2 big themes I think are changing

One of the best ways to pick stocks is top-down. If you can identify the themes running through the stock market and the economy the stocks basically pick themselves. The themes don’t change very often though and you can go a year without any themes really changing. But there are two themes that I think are changing - two themes that have served us extremely well for years. 1) The assumption that the Australian dollar is going to continue to fall. 2) The assumption that resources are to be avoided at all costs. We are beginning to think that the oil price and iron ore price may have seen the bulk of their depreciation and should now bottom having returned to their pre-resources boom trading ranges. We are also beginning to think that the Australian dollar has seen the bulk of its depreciation from 110c down to 68.25c at its low. (VIEW LINK)