10 things you need to know this morning in Australia

Still nope. Picture: Universal Pictures

Good morning. It’s Friday, Friday.

1. Housing update. Deutsche Bank has sent out a note arguing that a combination of rising interest rates, reserve bank tinkering with the market and increasing “politicisation of the housing issue” means insane price rises can’t continue. No, it’s not Sydney, although it sounds very familiar. It’s London and here’s why Deutsche is expecting prices to start falling.

2. To the markets, where overnight, ECB president Mario Draghi boldly, er, released the doves by hinting that the ECB will be back with more QE and maybe lower rates at its next meeting in December. Genius. It started a solid night around the globe and should fuel a sharp recovery on the ASX in trade today with the December SPI200 futures contract up 77 points or around 1.5%.

3. No doubt the CBA joining Westpac in jacking up its home loan rate could help as well. Greg McKenna reckons there’s a real chance the ASX can break up and through the recent range highs, further turbocharging the move.

4. Fact: Most vitamins are useless. Decades of research has failed to find any substantial evidence that they do any significant good. Fact: Vitamins are expensive. So here’s the only ones worth paying for.

5. Hoverboards are all the rage this week. Or lack of them. Last year, California couple Jill and Greg Henderson actually got one working, but it was noisy and even Tony Hawk struggled to ride it. But he gave them some tips and they got an update out just in time for Back to the Future Day:

Now all we need is to find a planet made entirely of steel on which to ride it.

6. Want to retire with a million dollars? Start saving today – here’s how much you’ll need to put away each day to make the magic mark by the time you’re 65. And if you follow these tips on how to get richer in a year, you might be packing up your desk for the last time a lot sooner.

7. Jeff Bezos knows how to get rich. Back in July, his bank account jumped by $US7 billion in a day when stocks soared after his company Amazon reported a surprise profit. This morning, Amazon reported another beat, with revenue up $US25.4 billion against $US24.9 billion expected. Shares are up 8% after hours, which added another $US5 billion to the Bank of Bezos and made him America’s third richest person.

8. And Google – or “Alphabet” – is going just fine too, thank you very much. It’s reported a beat on both the top and bottom line which just sent the stock soaring more than 10% after hours. And investors are happy – it followed up by announcing a monster $5 billion stock buyback.

9. The Age of Entitlement. Once there was a time when “startups” were known as “small businesses”. If you wanted to buy a milk round, you’d take the figures to the bank manager and if he thought you could pay the loan back, you’d get the cash you need to buy the round, and a not a cent more. Now, you have an idea that you think will succeed purely because no one else has had the same idea, so you pay someone to pitch a slide deck to investors, and when they don’t immediately hand over $50 million, you send them this:

And if they do hand over $50 million, you burn through it in six months, lay 18 people off, and say “whoops, sorry and here’s another great idea I had”. Ah, disruption. And what’s with that handwriting?

10. The Most Important Charts in the World are so important, we’ve used capital letters to introduce them. They’re from Wall Street’s brightest minds and because the economic world changes so much, they get updated every six months or so. Since we last ran them, the S&P 500 hadn’t yet seen a 10% correction, the Fed has held out another six months on a rate rise and we’ve been through another Greek crisis. So get cracking – there’s 70 slides to ponder, and they’re all worth it.

BONUS ITEM: The most cute ever squeezed into one video:

Have a great weekend.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.