Australia from an Australian Investor

From Harry Newton, TechnologyInvestor.com
There are eight reasons Australian stocks have done so well:
1. The mining boom. China gets 40% of its iron and coal from Australia. Then, there's zinc, copper, uranium, bauxite (aluminum), natural gas, gold, molybdenum, and every other mineral you can imagine, let alone pronounce.
2. They manage their country really well. The present conservative government (and the same prime minister) has been around for 10 years and has brought in business-friendly changes on every front, including tax reductions, less restrictive labor laws and removal of anti-competitive domestic trade practices.
3. The mandatory 9% super money. By law (since 1992) Australians have to put 9% of their salaries into a 401(k) type fund and invest the money into (basically) the stockmarket. The 9% is brilliant. It assures Australians of a prosperous retirement and relieves the government of having to fund it.
4. The intellectual export boom. Australians have always been creative. But they live at the bottom of the world. That has made them feel inferior. No more. There are now Westfield shopping centers, Macquarie infrastructure deals, Rinker's concrete trucks, and a zillion other world-class Australian business accomplishments, including designing many of the stadiums for the China Olympics 2008.
5. Huge entrepreneurial opportunities. All my friends' kids are starting their own businesses -- from managing money to signage for shopping centers. Optimism pervades Australia. There's nothing the Australians feel they can't do -- from building tunnels under cities, to railways to new areas, to killing Starbucks. Yes, you got it. Starbucks is falling on its tushy because Australians make better coffee and sell it better. Australia also has more than its fair share of self-made billionaires. What's new: It's proud of them.
6. Australia's population is now very diverse, courtesy recent immigration from Asia. Immigrants work harder, too.
7. Australia is world-class in every way. It's seriously gorgeous. Its climate is to die for. I played tennis outdoors in the middle of the Australian winter. Australia sensibly keeps its snow on its mountains. Mae West said it best, "Living well is the best revenge." She could have been referring to Australia. All this is why Australia is attracting rich retirees from Asia and the U.S. It's a really nice place to live, mate.
8. Overseas hedge funds discovered Australia. And pumped billions in. In the last month, they've pulled $30 to $40 billion out of Australia, causing the slump you see above. That creates a huge buying opportunity for the likes of you and me.
Australia is booming. There's no stopping it.