Black Monday

[ValueNZ]

Reddell reported this morning one of the most stunning statistics I have ever seen

NZ real GDP per capita is up a total of 3% since 2017.

Nominal PC up 29%.

Almost hard to believe.

0.42% PA real per capita GDP growth over 7 years.

Basically explains everything.

3% since 2017... That is dogsh1t growth.

We should be aiming for 3% real growth p.a.

[Ggcc]

Reddell reported this morning one of the most stunning statistics I have ever seen

NZ real GDP per capita is up a total of 3% since 2017.

Nominal PC up 29%.

Almost hard to believe.

0.42% PA real per capita GDP growth over 7 years.

Basically explains everything.

Wow. That is disgusting and I don’t truly know what to think.

[dabsman]

Socialism in all its glory. Pity they ran out of other peoples money to spend

[Toddy]

Socialism in all its glory. Pity they ran out of other peoples money to spend

I would argue that Socialism was only partly to blame.

I think the real drain on capital was more likely caused by the Greenies and little old NZ trying to save the world. The rules and regulations forced upon our major economic driver farming, mining, oil and gas, wastage of money on cycle lanes, slowing down traffic with speed limits etc. I could go on.

We can bend to the left easily enough a small bit, but to enforce regulation preventing progress and scaring away capital is the best way to make NZ poor.

[ValueNZ]

I've been thinking about Kiwisaver providers since I turned 18 not too long ago and started contributing for govt + employer contribution. Every provider I've looked at has high fees, and mostly only offer funds with far too high % invested in NZ equities/fixed income etc.

My ideal Kiwisaver portfolio would likely consist of a high % in VOO, BRK with a small percent in an assortment of my own individual company picks, with minimal fees. It's looking like that's not possible, but please, if anyone knows how I can do this PM me.

I understand you have 100% of your Kiwisaver in BRK using Craigs, SailorRob? Craigs is charging 1.25% p.a in management fees below 250k, for doing practically nothing! Surely there must be another way?

[causecelebre]

. Deleted ....

[Toddy]

I've been thinking about Kiwisaver providers since I turned 18 not too long ago and started contributing for govt + employer contribution. Every provider I've looked at has high fees, and mostly only offer funds with far too high % invested in NZ equities/fixed income etc.

My ideal Kiwisaver portfolio would likely consist of a high % in VOO, BRK with a small percent in an assortment of my own individual company picks, with minimal fees. It's looking like that's not possible, but please, if anyone knows how I can do this PM me.

I understand you have 100% of your Kiwisaver in BRK using Craigs, SailorRob? Craigs is charging 1.25% p.a in management fees below 250k, for doing practically nothing! Surely there must be another way?

I've always been too scared to have a Kiwisaver as there is a risk that the Government may change the rules one day to annuity payouts only.

[Bikeguy]

No profit warnings / downgrades today

NZX should have a rare up day

In fairness you were only out by a day👍

[ronaldson]

Up 1.75%. What happened?

[SailorRob]

I've been thinking about Kiwisaver providers since I turned 18 not too long ago and started contributing for govt + employer contribution. Every provider I've looked at has high fees, and mostly only offer funds with far too high % invested in NZ equities/fixed income etc.

My ideal Kiwisaver portfolio would likely consist of a high % in VOO, BRK with a small percent in an assortment of my own individual company picks, with minimal fees. It's looking like that's not possible, but please, if anyone knows how I can do this PM me.

I understand you have 100% of your Kiwisaver in BRK using Craigs, SailorRob? Craigs is charging 1.25% p.a in management fees below 250k, for doing practically nothing! Surely there must be another way?

Correct,

No other way that I know of.

I have complained to Lister more than once, his defence is compliance costs. I also complained when he misspelled Buffett on the front page of the Business Herald. He was embarrassed but tried to bale the editors for not picking it up! Like that Moneyhub dude, he went to the meeting and has been going around saying that he's compiling a 'guide to the meeting' that will be the best guide ever and saying he knows that sounds cocky but it's true. Well dude it would be a good pace to start the 'Best Berkshire guide ever' by spelling the mans name correctly.

Also as you can imagine, it was a fun conversation when they tried to warn me of the risks of 'doing it myself' and having 100% in one company. I invited them to manage my money for me and if they guaranteed they could beat BRK and if not they made up the difference. Didn't take me up. Also bet Lister that none of Craigs products could touch BRK over the next 10 years.

I got around 17 people into Craigs with 100% BRK, by the end of it they thought it was pretty funny. My understanding is that these 17 accounts have the highest performing KiwiSaver return within Craigs to date or thereabouts.

The they decided to send me their in house research on BRK. My ribs still hurt slightly.