Experts: Stocks will keep rising

INVESTORS watching the Australian sharemarket march towards a record high have been told not to worry about the bubble bursting.

In stark contradiction to our struggling economy, the ASX200 is trading at close to unprecedented levels and recently hit 11½-year highs.

Since the beginning of the year many investors’ portfolios have fattened including those with super funds.

And Automated investment advice platform Six Park’s director of business development Ted Richards said the climbs aren’t over just yet.

“Just because something is high doesn’t mean it can’t go higher,” he said.

“Market highs can go higher, it doesn’t always work that highs lead to corrections.”

Stockspot’s founder Chris Brycki said talk of an upcoming slide should not change an investors’ strategy.

“Like broken clocks they (commentators) are usually wrong and more likely to harm your investing than help it,” he said.

“Our advice to clients is to pay no attention to their predictions (of the bubble bursting).

“Instead make sure you’re well diversified across different assets, keep your costs low and accept that the share market can go up or down over the short term.”

Some older Australians who suffered dramatic losses after the global financial crisis over a decade ago are still licking their wounds.

It’s taken a long time for the sharemarket to rebound to within a striking distance of previous highs.

Mr Richards said picking the right stock at the right time is almost impossible to do, even for the experts.

CommSec’s general manager of digital and customer experience Soraya Alali said more than half of their investors opening new accounts are Millennials aged under 35.

“They want to start early and this has driven the growth we have seen,” she said.

“You need a minimum of $500 to invest in the market and what we find with Millennials they tend to invest on average about $1000.”