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Greetings fellow fools

I'm new here, have never invested before and am just considering the best way to approach it. I'm attracted to the long-term buy and hold idea, which seems eminently sensible, and also to the idea of an Index Fund.

Here are a few real newbie questions I can't find help with on the FAQ. I live in Orstrayleea (that's "Down Under" for those of you who don't spell phonetically).

1. Can non-US citizens invest in the US stock market? (This is just to satisfy my idle curiousity.)

2. Is it true that the same basic rules apply to all markets? That is, assuming I invest in the Australian stock market, do markets behave in the same cyclic fashion regardless of where they live?

3. Does anyone know of Australian Index funds they can point me at?

Thanks for your help.

Adelaide, Australia
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