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Yesterday, 02:35 PM
#19861
![Quote](images/misc/quote_icon.png) Originally Posted by bull....
savage reaction to microsoft results. ![Scared](images/smilies/scared.gif) big week still to go for mag7
anyway
Who are NZ's 1 percent, and how do you get there?
Stats NZ said in 2021 the top 1 percent of New Zealand households had net wealth - assets minus debts - of at least $7.59 million. That compares to median net worth for all households of $397,000
If you want to get rich, you'd better start early - and potentially have a bit of luck on your side
Here's the rundown on what it takes to be among the wealthiest people in New Zealand now, and how you might hope to get there.
https://www.rnz.co.nz/news/business/...-you-get-there
The economist in the article did a podcast this morning. I'm sure the content of that podcast was the basis for article. I pulled him up on his numbers. Of course, he has a vested interest in having people invest in property as he is a partner in a property investment co (and i'm not saying investing in property is bad - I do it). I'm saying his numbers are disingenuous as they were not risk or inflation adjusted, they did not contain dividends and his property numbers did not take into account expenses, namely interest, and other opex (maintenance, property management, insurance), etc. Also given property is highly leveraged then his numbers could have also taken margined sharemarket investments into account as well.
And we then get berated by the property lobbyists when we argue that investing in productive businesses should gets its due!
Last edited by causecelebre; Yesterday at 02:36 PM.
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Yesterday, 02:49 PM
#19862
![Quote](images/misc/quote_icon.png) Originally Posted by blackcap
Hi Percy,
Is it really a book business these days? I visit my local paper plus about 3 times a week, and to me they sell more items outside of books than books. IN fact, I hardly see them selling books at all. More like trinkets, gifts and they provide a NZ post service where my local is.
I know the ladies there quite well, I might just ask them about the capital raise and how much they are needed to stump up with. I don't think they will be very happy.
Yes very much different from just a book, cards ,stationery, and magazine seller.
NZ Post is a lot of work for very little reward.[if any]
Most of their supplies now come from Australia,so logistics mean they have to a higher stock holding.
Emails and skype mean card sales and writing pad sales are under pressure,while You tube etc has seen magazine sales come under pressure.
It is interesting to note book sales have recovered.People seem to enjoy holding a book rather than reading them on line .
Paper Plus's head office revenue comes from collecting a % off wholesalers invoices,ie shops are charged through head office,which adds on a margin.
So if stores are not selling a lot they are buying less, which means head office's revenue is down.
Off the top of my head I think they will need to raise between $900,000 and $2,500,000..With 90 stores that would be $10,000 to $27,750 per store.
However it is all a catch 22.Store sales down,means head office revenue is down.Store sales down, their profit will be well down,and they too may be under pressure from their own bank.
,
Last edited by percy; Yesterday at 02:52 PM.
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Markets look very UP overnight as rate cuts get closer.
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fed pretty much saying sept cut on the table , barring anything bad happening. Should see RBNZ in play now. though got to remember 25 cut really doesnt make much difference to conditions
one step ahead of the herd
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Going to be a search for yield across the board. Position accordingly...
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![Quote](images/misc/quote_icon.png) Originally Posted by bull....
fed pretty much saying sept cut on the table , barring anything bad happening. Should see RBNZ in play now. though got to remember 25 cut really doesnt make much difference to conditions
Change of mood leads to change of sentiment ...Evident from just few words of RNBZ made NZX do + 5.22 % last month ...real cut of any magnitude will do that once again ....NZX50 can end up + 10-15% by Dec end ...if all proceed smoothly on rates front ...80/100 chance ...imho
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Fun fact: Google is making over $1b USD in interest income per quarter on its cash. Thats more than Kroger, Target, Paypal, Kraft Heinz, Starbucks, Chipotle, Blackstone, Air BnB, and Advanced Micro devices combined.
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![Quote](images/misc/quote_icon.png) Originally Posted by causecelebre
Fun fact: Google is making over $1b USD in interest income per quarter on its cash. Thats more than Kroger, Target, Paypal, Kraft Heinz, Starbucks, Chipotle, Blackstone, Air BnB, and Advanced Micro devices combined.
thats crazy
Instant success is a curse and a gift. The curse is you think luck is skill. The gift is you know it can be done. Then it’s a race to turn luck into skill before you lose it all.
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![Quote](images/misc/quote_icon.png) Originally Posted by Rawz
thats crazy
I know right? High rates are inflationary lol
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