Beware those bearing property investment advice

Anyone, regardless of their experience and qualifications, can give you advice on how to spend a considerable amount of money to buy an investment property - and you could be left totally unprotected.
That’s the warning from Margaret Lomas, who heads up the Property Investment Professionals of Australia.
These people can also make a commission from the sale and charge you for their advice, but there is currently no legislation that offers any protection against shonky advisors.
By contrast, the finance investment industry is arguably over regulated.

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“If you have $20,000 cash to invest, your financial planner will be regulated to the wall in regards to how they can advise you on its investment, but mention you are looking to buy $500,000 worth of property and every shonky man and his dog will come out of the woodwork to help you part with it – and you will be left stranded when it falls in a heap,’’ Ms Lomas said

Asian stocks inch up after China CPI

Asian stocks edged up as Chinese consumer price data soothed fears over inflationary pressures building in the world's No.2 economy, but the mood was cautious after Western central banks failed to offer any fresh stimulus plans to revive their sputtering economies.
The US dollar eased against a basket of currencies and US Treasuries slipped as markets reacted coolly to a $US447 billion jobs package plan from US President Barack Obama, who faces a fierce battle to win over Republicans which could revive fears of political paralysis in Washington.
Global markets have been dominated in recent weeks by fears of a US relapse into recession and Europe's snowballing debt crisis. Citigroup analyst Jonathan Stubbs said in a note on Friday that "recession appears to be a more likely outcome now in Europe and/or the US than 3-6 months ago".

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Worries about the darkening outlook for the developed world prompted Asian central banks including South Korea and Indonesia to hold interest rates steady on Thursday, following similar moves by Australia, Canada, Japan and Sweden this week.
China's annual inflation moderated slightly to 6.2 per cent in August from July's three-year high, in line with market expectations and raising expectations that Beijing too will hold off from further policy tightening which could dampen its demand for commodities and other imported materials.
The MSCI's broadest index of Asia Pacific shares outside Japan rose 0.3 per cent, with the biggest regional gains in Australia and Taiwan , both heavily influenced by demand from China.

Global investors lukewarm on Obama plan

European stock index futures fell on Friday, following Asian markets lower, as a $USUS447 billion jobs package from US President Barack Obama failed to entice investors back into equities amid concerns that it could be hamstrung by political wrangling.
The euro languished near a two-month low against the US dollar reached on Thursday after the region's deepening debt crisis forced the European Central Bank to drop its tightening policy bias, a key driver in the single currency's rally this year.
Euro STOXX 50 index futures fell 1.1 per cent, with DAX and CAC-40 futures also in the red, and spreadbetters called the FTSE 100 to open down 0.3 per cent.

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Asian markets were down around half a per cent, after see-sawing between gains and losses, while S&P 500 futures surrendered early gains and slipped 0.2 per cent.
"Obama's plan was in line with expectations, and US stocks are unlikely to rally on it," said Takashi Ushio, head of investment strategy at Marusan Securities Co. in Tokyo. "Uncertainty about the direction of the US economy remains."
Market confidence had been fragile after Western central banks failed to offer any clues on fresh stimulus plans this week, with a looming deadline for bond holders to decide on Greece's swap offer also adding to the nervousness.