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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Westpac gives investors an out following revelations

By Cameron Micallef · November 28 2019

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Invest

Westpac gives investors an out following revelations

By Cameron Micallef
November 28 2019

Reading:

Westpac gives investors an out following revelations

By Cameron Micallef · November 28 2019

Reading:

The big four bank is giving investors who applied for the latest round of capital raising an out, following the recent AUSTRAC revelations.

In a statement to the ASX, Westpac said applicants who applied for shares under the share purchase plan (SPP) prior to the AUSTRAC announcement on 20 November 2019 can opt out of the option by 5pm on Friday, 6 December.

“Refunds to eligible withdrawal applicants must be for the full application payment. Refunds will be made as soon as practicable after the issue date and in the same manner as for invalid applications and for any scale back of applications,” Westpac’s announcement stated.

Westpac announced a $2.5 billion capital raising at the start of the month alongside its full year results.

The raising consisted of a share placement with institutional investors and a share purchase plan for retail investors. Westpac was aiming to raise $500 million via it’s share purchase plan from retail investors.

The funds will be raised at the lower of the placement price and the volume weighted average price of Westpac shares traded on the ASX during the five trading day up to and including the SPP closing date (Dec 2) less 2 per cent discount.

However, following the AUSTRAC scandal and subsequent discussions with ASIC, applicants are not held to this obligation.

The announcement follows news that the Australian anti-terrorism regulator, AUSTRAC, is seeking civil penalty orders against one of the big four banks for more than 23 million alleged anti money-laundering law breaches.

AUSTRAC also alleged that the bank’s oversight of its own program intended to identify, mitigate and manage the money laundering and terrorism financing risks of its designated services was also deficient.

It’s been a tumultuous week for Westpac, with its woes now compounded by the exit of its CEO and a subsequent board restructure.

The share price of Westpac has fallen nearly 15 per cent over the past four weeks.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.