Shhh people still believe it is a bad investment. Of course those that have not invested.
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LOL - How thankful we should be to have experts like you, who clearly think they are able to predict the future.
Well, I don't ...
But I recon the old adage of paying top dollars for high PE shares only if you trust that growth and income will never drop still applies.
Sure - IFT is a solid investment fund, but they didn't get their investments always right in the past ... and I am not sure why this should change in future :):
Get used to it, not everybody is perfect - not even IFT manager ;) ... and hype always runs out ... sometimes earlier, sometimes later ...
I’m not surprised you responded. I’m definitely no expert and like IFT have made mistakes. I’m guessing you have never made investment mistakes. It sounds more like sour grapes to me.
Buy some shares and go along to their road show meetings. You will find they are some of the most onto it people you will ever find. They know their businesses inside out. I also feel they have made great business decisions of late. I’m also happy how they have made me loads of money since 2013.
Are they not one of if not the best performing good share of 2022???
Why else would an Australian fund be interested in them?
Hmm - nor sure how long you are already in the investment game, but it appears that you missed so far many lessons.
As well - you clearly didn't read (or understood?) the post you responded to. Where did I say that I never made mistakes? ... quite the opposite and if you would follow this forum, than you would know as well that I am quite openly talking about my mistakes.
Not quite sure what to do with the reminder of your post. IFT well might be the best performing share in 2022 - but what exactly does this prove? I can give you plenty of shares which used to be best performing shares at some point in time ... and dropped from there into the abyss. Actually, I'd say that this is the standard behaviour for "best performing" securities when the hype deflates. No matter whether we talk Bitcoin, Twitter, XRO or Tesla.
Yes, I have been on various IFT road shows (sometimes as well as NZSA rep). Interesting stuff, but if this is your information staple to make investment decisions, than I am not sure ...
Plenty of shares made their holders lots of money since 2013. I am glad you made money with IFT ... but there are so many other shares (nearly all) which did well since that point in time. So - what exactly does this prove? Remember - past performance does not guarantee future results.
Plenty of shares are attracted by funds ... and as with any other investors, sometimes the fund managers get it right and sometimes they get it wrong. Did you notice how many funds paid top dollars for e.g. XRO, SAP, ATM, FPH to name just some - and while most of them are still solid companies (same as I think IFT is a solid fund), they lost lots of value since the funds bought in.
Remember both ACC and Jarden buying into CBL (now bankrupt). What an amazing investment by fund managers.
Fund interest says only that somebody might think it a good idea to put other peoples money into an entity. Not more and not less. Fund managers are driven by Group Think and hype as well.
Anyway - enjoy your hype rush while it lasts ... and don't complain later on when things look less rosy. Have already a sneak preview into threads of the companies I mentioned above. ATM or e.g. XRO are great examples.
But sure - nobody can predict the future ... maybe your IFT shares are in a decade at $20 and you will tell me how wrong I was. Who knows?
$9.40 !
IFT hitting new All Time High today - well deserved also.
Many still just realising what the just passed US IRA bill means for renewable energy cos, IFT poised to reap handsome rewards with their US based business in this regard.
As the world burns in horrific heatwaves and Europe quickly weens itself off of Russian fossil fuels, Renewable energy companies are going to have a decade long bull run of growth.
Thanks BlackPeter, it’s alway good to keep in mind that past investment performance does not guarantee future performance.
IFT has certainly held some questionable investments, not always managements fault, but its worth remembering they will take their performance and management fees, but the downside risk of any of their investments will always be passed through to the IFT shareholder.
Of their investments which didn’t live up to the hype, NZ Bus was a pretty poor investment and would’ve underperformed a broad basket of shares. As for the European airports, I seem to recall they gave one back to the city of Glasgow for 1 GBP! At the time though, you could’ve gone along to a roadshow and walked away thinking they were all one way bets.
In some respects infrastructure investment has benefited from long term tailwinds resulting from the process of deregulation, state asset sales and generally falling interest rates since the late 1980s.
That said, IFT has delivered excellent returns for long term investors since 1994. I really like the management transparency and personally think the current investments will likely outperform.
I’m happy to keep holding and will reinvest the dividend.
Jeepers - $9.60 !
I started my investing in 2006 and now at 46 have amassed some serious coin for someone my age. In short I have done very very well for myself. I would say in the top 5% richest and maybe in the top 1% for my age group.
As for maybe not understanding your post. Oh Peter maybe you are too intellectual for me. The mistakes were in reference to your thoughts of the management of IFT and their mistakes. They make mistakes and you make mistakes. They have also understood where they have made mistakes and spoken about it at those meetings.
In 2022 you have been the person who has not been overly positive about IFT in fact negative and that is why I made reference to that. Sure it is good to have a balanced point of view both positive and negative. Know when you are wrong and you don't wait till $20 per share, get on board and ride along with me on this bus. It also depends on your age, as they are a long, long-term investment. Currently, they aim to grow by 15% per annum including dividend.
It is important to have a well-balanced portfolio and IFT is only part of my portfolio.
As for investment advice regarding CBL, I was always told only invest in companies you understand and stay away from insurance companies. Brokers can advise their customers about the investments they choose, but customers always make the final decision, unless they fully leave it to the broker. I read about companies before investing in them and after that, I can still get things wrong. I have lost some serious coin to the likes of WYN and I may have bought a second house near the top of the market. Mistakes happen, but try to keep a balanced view on the likes of IFT instead of sounding like sour grapes. If I learned anything in life so far It is ok to be wrong, just don't be constantly wrong.
I do like your posts on most other threads and you have lots of wisdom to give. I wish I had your tongue at explaining things from my perspective, but I don't. Hopefully you might decide to buy a few and join on the bus ( I am assuming you have no shares in IFT of course)
Anyway happy investing.
Well, here are some differences in our investment stories ...
I used to make good money at the time with WYN :), but yes, I know many didn't - and commiserations!
Re IFT ... nothing wrong with them, and I used to hold them at times. Made money with them as well (though not that much as with WYN) ... however - at this stage I do see their chances to do a RYM on their investors (another of these amazing 15% pa growth companies) and either flatline or drop, larger than their chances to keep growing with the current pace. But hey - nobody knows, maybe they are the specialists for renewable energies and nobody will catch up.
Just one thought in that. Siemens is a pretty good company ... and their daughter Siemens Energy (ENR) is currently losing serious coin with selling wind generators (google Gamesa, if you want to research), and this despite being one of the market leaders in this field.
Market is pretty tough and they are not the only company in that industry currently loosing money with every new order. But hey - these things obviously never ever will happen to IFT's companies, given that they all have the magic Kiwi vaccination, will it?
Anyway, the market lives from people disagreeing on the value of stocks - and nobody can predict the future. Sometimes I am right and sometimes I am wrong.
I never predicted Bitcoin or XRO to move to their respective peaks (but always expected them to come down again) - i.e. I have no idea where IFT will peak either (and so has nobody else). I suppose its the same with you.
Actually - RYM is another good example. Do you remember the time when every Tom, Dick and Harry jumped up and down and told everybody else how magic these retirement villages are and that they never will stop growing? Well, just replace retirement village with IFT and look at your posts. Just saying.
But anyway - good luck with your investments, and as long as you are sufficiently diversified, things should be alright.