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rmbbrave
14-03-2007, 12:57 AM
Kiwi sharemarket faces uphill struggle
VIEWPOINT - TERRY HALL
We can beat the Aussies. In the four years from March 2003 to the highs recorded last month, the New Zealand sharemarket performed marginally better than theirs.

The question is whether we can continue to do as well, once the current jitters are over. Logic – including the prospect of further interest rate rises and the latest lacklustre round of profit results – suggests we face an uphill struggle.

However, the Kiwi market has confounded observers in the past, and could do so again.

The March 2003 low for the NZX50 was 1869, and it hit a high of 4216 last month, a rise of 125 per cent. During the same period, the ASX200 rose 123 per cent, from 2693 to 6052. In subsequent trading the gap has narrowed to about 1 per cent.

http://www.stuff.co.nz/3990177a1865.html

rmbbrave
14-03-2007, 12:59 AM
Both about the same.

Crypto Crude
14-03-2007, 12:10 PM
ASX is much better choice when you take into account exchange rates...
And that medium term exchange rates are unsustainable at these current levels....

Also lets look at an example...
$1000 on NZX... 125% return = $2250 you get back

$1000nz *.9= 900aus
900*1.23= 1107+900= 2007
2007/.8= $2508

on falling exchange rate you are better off... which is pretty much a certainty over the next couple of years...
http://www.rbnz.govt.nz/keygraphs/fig8.html (mailto:)
Look at this graph and see that a new cycle is imminent...
click on the smaller graph and look at the green line....
its a cycles game....
[8D]
.^sc

ratkin
20-03-2007, 07:26 PM
ASX also better for diversification purposes. If NZ suffers something bad like foot and mouth or terrible earthquake then at least all your eggs wont be in the one basket

salsanova
21-03-2007, 01:56 PM
i've just started trading the asx and have found the biggest difference is the liquidity in the market place especially if you intend to be a short to mid term trader here you have the oppertunity to turn over your stocks for 10% gain in 1 week to 1 month periods fairly easily and if you are luck even 1 day this is over a larger variety of indexes as well as stocks etc

etrader
21-03-2007, 02:58 PM
quote:Originally posted by salsanova

i've just started trading the asx and have found the biggest difference is the liquidity in the market place especially if you intend to be a short to mid term trader here you have the oppertunity to turn over your stocks for 10% gain in 1 week to 1 month periods fairly easily and if you are luck even 1 day this is over a larger variety of indexes as well as stocks etc

agree i am mainly buying in oz and with the multi millions that go through it's easy to get in and out and clip a profit on the way.

SEC
03-04-2007, 11:16 PM
quote:Originally posted by rmbbrave


We can beat the Aussies. In the four years from March 2003 to the highs recorded last month, the New Zealand sharemarket performed marginally better than theirs.


I'm sure Terry Hall realises he's comparing apples with pears when he made these outlandish statements in his ill-researched article but a few uninformed investors were probably sucked in.

Let's get the facts right. You cannot compare a capital index with a gross index like Hall has.

So what has been the REAL comparison? Firstly, let's try comparing capital indices. The NZX does have a capital index, the NZX All Capital Index. But the NZX doesn't promote it, and judging by its performance since its inception (30 April 2003), one can see why. In the same period the NZX50 has gone up 104% (30/04/03 - 31/03/07) - 20% annualised, the Capital Index has only gone up 57% or 12.1% annualised. Nearly half the gains of the NZX50 are due to gross dividends, adding on average an extra 8% every year to the index.

Over the same period the ASX200 capital index has gained 99%, or 19.2% annualised. Thus on a capital basis the ASX has significantly outperformed the NZX.

Oh dear, I hear howls of derision from the Weldon groupies 'what about all those dividends NZX companies pay - far more than what the Aussies pay'. Well, let's take a look at the performance of the ASX200 Accumulation index (capital + NET dividends). It's gone up 136% over the same period, or 24.5% annualised. But the ASX200 AI and the NZX50 still cannot be compared properly get since we have to convert the NET dividends to GROSS dividends. The affect of net dividends has added an extra 5.3% annually @ 30% tax rate. The gross dividend works out to be 7.6%. Adding this to the 19.2% capital gain the ASX 200 Accumulation Gross Index has returned 26.8% pa or 153% since April 2003. The ASX is still far better than the NZX50 on an FAIR COMPARISON.

How on earth the Herald allowed that tripe to be published I'll never know – business journalism quality plunging to new depths for a feelgood story.

SEC

hods
22-04-2007, 02:46 PM
Hi All .... After a bit of advice. I am currently trading in the ASX but using a NZ bank account and broker.
I am thinking that it would be better to open a Aussie bank account and use a Aussie broker so I don't keep getting pinged on exchange between buying and selling.
Also if I do open the account in Aussie, do I get pinged for the Aussie Capital Gains Tax or am I taxed on the gains made by the NZ IRD?
Cheers
Hods

OldRider
23-04-2007, 04:45 AM
Hi Hods:

I am not a tax expert, and just quote from my experience.

Your country of residence determines where you will pay tax. There is no liability for Aust capital gains tax over there just because you have a bank account there into which dividends are paid, even though they might never be brought back to NZ.

You have labelled yourself a trader,(which may or may not be a correct label), if so the capital gains will be taxable in NZ, dividends will be taxed here similarly and you are unable to use the franking credits, any withholding tax paid in Aust on dividends may be claimed on your NZ return.

I have kept an Australian bank for many years and find it convenient and inexpensive, though still find using my bokers Aust dollars account necessary, as a first step, just an Aust dollar account with your broker may be all you require.

hods
23-04-2007, 06:37 AM
Thanks OldRider ... you have confirmed what I thought.
Yes I have classed myself as a trader as Macdunk in one of his posts said "It is best to be honest and up front" with regard to the IRD and paying tax.
I have Aussie shares in a Trust account which are more long term investments, but am wanting to trade share personally on a more short term basis to earn a bit of "pocket money" so to speak. The problem with using someone like Direct Broking for trading Aussie shares is that they don't have any conditional order functions (only for the NZX).

So I thought using an Aussie online broker such as ANZ E-Trade would provide better functionality, only down side is I need to open a Aussie bank account and since I am going to visit my daughter in Melbourne this week, it would be a good time to open an account up as you need to front personally!!!.

Anyway enough of my ramblings ... thanks for the reply, it is much appreciated
Hods

OldRider
23-04-2007, 07:38 AM
Hods:

Another thought occurred to me, if you do open an Australian bank account, most companies (though not all), allow you to deposit dividends to a third party account, so dividends from your trust holdings could be paid directly to your new account, removing the cost of currency conversion.

lakedaemonian
23-04-2007, 01:18 PM
Is it just me or is the NZX being gutted via private equity/mergers?

How much impact will KiwiSaver have on the NZX in the short/medium/long term?

Personally, I think the NZX possesses few decent investment opportunities at the moment(although I've been acquiring NZR recently), but will a flood of cash looking for a home in the market, lift all leaky boats?

SEC
23-04-2007, 10:22 PM
quote:Originally posted by lakedaemonian

Is it just me or is the NZX being gutted via private equity/mergers?

How much impact will KiwiSaver have on the NZX in the short/medium/long term?

Personally, I think the NZX possesses few decent investment opportunities at the moment(although I've been acquiring NZR recently), but will a flood of cash looking for a home in the market, lift all leaky boats?


Kiwisaver will most likely have minimal impact since almost all the money will be invested overseas and in bonds/fixed interest. The trustees know better than to invest in the NZX since the sheer weight of money will 'move the market' too much. From memory, I think the trustees are actually mandated to invest the money overseas.

The 'flood of cash' you talk about will also move overseas - into equivalent companies, and to take advantage of the high NZD.

SEC

duncan macgregor
26-04-2007, 09:48 AM
I agree with you SEC the NZX is due to take a hammering due to the NZ dollar which will crash when the music stops. Having said that short term I see the dollar rising. I moved to the ASX I really dont see anything on the NZX to compare to the returns I am having on the ASX. Macdunk

Crypto Crude
03-05-2007, 03:08 PM
australia reserve bank At its meeting on 1 May, the Reserve Bank Board decided to leave the cash rate target unchanged at 6.25 per cent...
NZ interest rates rising...
yet another argument for ASX stocks...
shorter term should see the cross rate rise...
[8D]
.^sc

JBmurc
08-05-2007, 08:51 PM
NZX does have some decent companys( which 90% of are also on the ASX)But overall as a trader the NZX doesn't even compare - shifted 100% of my funds into the ASX some 4yrs ago
-best of all for us NZ,er is the soon to rise even higher NZD Vs AUD should really be 20%+ diff

OldRider
21-05-2007, 06:36 AM
I thought this was an interesting article, about the growth of Australian business outside Australia, I wonder how NZ compares?
http://www.theaustralian.news.com.au:80/story/0,20867,21764853-643,00.html

rmbbrave
31-07-2007, 09:11 AM
NZ shareholder returns the best in developed world
Shareholders in New Zealand's listed companies received better returns on their investments than counterparts in any of the world's major developed markets over the past five years.

A report out today from the Boston Consulting Group also shows Fletcher Building, whose businesses include PlaceMakers, Fletcher Construction, Golden Bay Cement and Gerard Roofs, created more than $4 billion of shareholder value in the five years to 2007.

That was more than any other major New Zealand company.

Helped by a healthy domestic economy, the New Zealand sharemarket delivered total shareholder returns of 16.9 per cent annually.

That tops the 15.5 per cent achieved in Australia, the best of the other major developed markets. Boston measured shareholder returns as a combination of share price rises and dividends.

However, New Zealand's performance was well below the big, emerging markets of India and China.

They recorded shareholder returns of 34.4 per cent and 29.1 per cent annually over five years, respectively.

Of the stock exchange's top 10 companies by tradable market capitalisation, Fletcher came out on top with a five-year total shareholder return of 38 per cent per annum.

Infrastructure investor Infratil came in second at 30 per cent.

Contact Energy was third at 22 per cent with takeover target Auckland International Airport fourth with 21 per cent.

http://www.stuff.co.nz/4146508a13.html

Phaedrus
31-07-2007, 10:27 AM
FBU best of the NZSX top 10, returning 38% pa for the last 5 years. $1000 invested 5 years ago now over $5,000. Not too shabby!

Did your stock selection system get you into FBU?
Did it keep you in FBU?

If you are not investing in out-performing stocks like this, perhaps your investment strategy could be improved.

SEC
24-09-2007, 09:16 PM
I'm sure Terry Hall realises he's comparing apples with pears when he made these outlandish statements in his ill-researched article but a few uninformed investors were probably sucked in.

Let's get the facts right. You cannot compare a capital index with a gross index like Hall has.

So what has been the REAL comparison? Firstly, let's try comparing capital indices. The NZX does have a capital index, the NZX All Capital Index. But the NZX doesn't promote it, and judging by its performance since its inception (30 April 2003), one can see why. In the same period the NZX50 has gone up 104% (30/04/03 - 31/03/07) - 20% annualised, the Capital Index has only gone up 57% or 12.1% annualised. Nearly half the gains of the NZX50 are due to gross dividends, adding on average an extra 8% every year to the index.

Over the same period the ASX200 capital index has gained 99%, or 19.2% annualised. Thus on a capital basis the ASX has significantly outperformed the NZX.

Oh dear, I hear howls of derision from the Weldon groupies 'what about all those dividends NZX companies pay - far more than what the Aussies pay'. Well, let's take a look at the performance of the ASX200 Accumulation index (capital + NET dividends). It's gone up 136% over the same period, or 24.5% annualised. But the ASX200 AI and the NZX50 still cannot be compared properly get since we have to convert the NET dividends to GROSS dividends. The affect of net dividends has added an extra 5.3% annually @ 30% tax rate. The gross dividend works out to be 7.6%. Adding this to the 19.2% capital gain the ASX 200 Accumulation Gross Index has returned 26.8% pa or 153% since April 2003. The ASX is still far better than the NZX50 on an FAIR COMPARISON.

How on earth the Herald allowed that tripe to be published I'll never know – business journalism quality plunging to new depths for a feelgood story.

SEC

The ASX continues to outperform the NZX.

So far in 2007 the ASX200 capital index has increased 13.8% while the NZX All Capital Index has actually fallen, by 0.3%.

Those who claim NZX returns have been superior to the ASX (or even similar to the ASX) over the past few years are drawing a very long bow.

SEC

stevo1
25-09-2007, 12:08 PM
no contest here.asx. if it gets knocked down it will get up again.better range of assets more depth .billions of superannuation funds going in.commodity based currency.minerals galore nzx maybe half a dozen companies worth investing in.no real depth.weak currency .general public reluctant to invest.small narrow based economy.

SEC
29-10-2007, 11:40 PM
Update - so far this year S&P ASX200 Capital Index +19.8%, NZX All Capital Index -0.9%.

Anyone still think the NZX is performing better than the ASX?

SEC

bear
31-10-2007, 09:35 AM
NZX does have some decent companys( which 90% of are also on the ASX)But overall as a trader the NZX doesn't even compare - shifted 100% of my funds into the ASX some 4yrs ago
-best of all for us NZ,er is the soon to rise even higher NZD Vs AUD should really be 20%+ diff

you are right JBmurc but individual performances like TEL have weighed heavily (and negatively) on the NZ performance. Some Companies mentioned above have performed well.

I too moved the majority of funds into Aust a few years back as i found at the time many NZ stocks to be fully priced.... and with fewer options and a high NZ$ at the time it was really a no brainer. Plus i wanted a little more choice in the resource and oil area.

Am always looking to bring coin back to NZ but choices still remain limited imho

bear

OldRider
31-10-2007, 06:38 PM
The database threw out some trivial information that was interesting to me,
our year starts from 1 April so has run for 7 months:
Of the markets I collect data from - about 8
Dow Jones shows largest rise for first two months, then Hang Seng took over for the next five in a row, up 45% over period, I have never seen a run like this before.
It is way ahead of the others

NZX was the worst for 2 of the months - up 3.37%
Nikkei was the worst for 3 months and overall , and the only market in the red.

ASX ahead of NZX by nearly 11% change in crossrate will improve this.

Toulouse - Luzern
31-10-2007, 10:06 PM
Hi, Sec, Bear, and Oldrider

SEC I was going to post on the same day on similar lines to your post as quoted below. Hold ASX and NZX and a big difference in performance over 3 months or so, likewise with the indexes. I was able to display the data OK using superchart comparisons on Directbroking site but my skills were not OK to post the reply on ST.

I think ASX.ASX is better than NZX.NZX.

My equity holdings tell the tale - I am investing more in OZ - trend is to OZ and the OZ trends are up. NZ lacks visionary leadership, - whereas the Ozzies just keep doing it. No tax cuts here but in OZ people get to spend more of their own money and businesses have a chance to thrive and so will investors who identify the trends ...for me OZ looks a better investor friendly environment

Re Hang Seng - it certainly looks good just now to follow the trend - how do you invest in HK from NZ? ASB Emerging Markets is the best of their ASB funds I may catch the ASB EM bus and get off if it slows down ...

Oldrider have you had a look at the China stock exchange indexes eg SSEC or ASX.AGF - the AMP China Growth Fund on the ASX - it looks really good on the graphs compared with NZX.NZX.


SEC Post
No contest - ASX is better

Update - so far this year S&P ASX200 Capital Index +19.8%, NZX All Capital Index -0.9%.

Anyone still think the NZX is performing better than the ASX?

SEC

duncan macgregor
01-11-2007, 09:44 AM
I cashed up all my NZX holdings last dec to invest in the Australian Market. So far in front of anything i could have expected in NZ, plus an 8% exchange rate gain. If i cashed up and brought it all back to invest here, i would simply give up the share market. I still see the NZ dollar downtrending against the AUD, which will go from strength to strength on the back of a commodoty boom. I like playing the miners where they have huge volumes and extreme sp fluctuations. NZ has so many restrictions against mining that nobody would invest in that sector in this country with half a brain. The factories are all relocating to china theres nothing much to get excited about on the NZX with a greenie govt determined to give all our money away over global warming. Macdunk

glennj
01-11-2007, 03:06 PM
Based on my own holdings and my company holdings from 01/04/07 to the 31/10/07 the ASX portfolio returns have been roughly double that of the NZX portfolios.
ASX has a lot going for it. Not being able to use the Aus franking credits is an annoyance though.

OldRider
01-11-2007, 03:16 PM
T-L : I haven't really had much of a look at China. Will take a look at that AMP China Fund though, a quick look at its graph showed it heading the right way.

I have held Temple Emerging Markets (TEM) on NZX for 2 or 3 years and so far it has performed better than most of our other foreign holdings.

Toulouse - Luzern
01-11-2007, 08:26 PM
Thanks OR - I will take a look at TEM EM.

I have quite a few ASX-AGF.

Today NZX.NZX goes sideways ASX.ASX goes up $1.87.

Duncan I think I am getting onto the same wave.

Glennj twice is pretty compelling...

rgds

whiteheron
01-11-2007, 09:00 PM
Hi folks

For the shares that I play with (serious stuff though) I am 100% invested in ASX shares, having sold my last minor NZX holding earlier this year

I must say that I am very pleased with the results that I have achieved from Aussie shares for the last 2 to 3 years,which are all in the mining and oil/gas sectors

I am sure that I could not have achieved a similar result with NZX shares

Opportunities seem far greater in Aussie --- just my opinion though

Footsie
02-11-2007, 04:54 PM
ASX >2000 companies
NZX <200

Whilst asx doesnt = better returns it does = more opportunities

steve fleming
03-11-2007, 08:11 AM
ASX >2000 companies
NZX <200

Whilst asx doesnt = better returns it does = more opportunities

and more liquidity.

Number of trades on the ASX yesterday: 378,163

Number of trades on the NZX yesterday: 2,623

In fact there are more daily trades on most individual ASX200 stocks than there are on the entire NZX.

I wouldn't like to be a stockbroker in NZ - you'd sit around twiddling your thumbs all day.

SEC
03-11-2007, 02:01 PM
and more liquidity.

Number of trades on the ASX yesterday: 378,163

Number of trades on the NZX yesterday: 2,623

In fact there are more daily trades on most individual ASX200 stocks than there are on the entire NZX.

I wouldn't like to be a stockbroker in NZ - you'd sit around twiddling your thumbs all day.




Not to mention IPOs.

Number of ASX IPOs in 2007: 230

Number of NZX IPOs in 2007: 3

Reference:http://www.sharechat.co.nz/news/scnews/article.php/869c1ed4


Whilst asx doesnt = better returns

The facts prove otherwise over any timeframe you care to suggest - 1 year, 5 years or 20 years, ASX = better returns.

In fact based on the NZX All Index, the NZSE40 would only be about 2960 at the moment, still 25% below the 1987 peak. The All Ords has increased 192% over the same period. No wonder the typical NZ M&P investor prefers property over shares.

SEC

tricha
03-11-2007, 11:57 PM
Not to mention IPOs.

Number of ASX IPOs in 2007: 230

Number of NZX IPOs in 2007: 3

Reference:http://www.sharechat.co.nz/news/scnews/article.php/869c1ed4



The facts prove otherwise over any timeframe you care to suggest - 1 year, 5 years or 20 years, ASX = better returns.

In fact based on the NZX All Index, the NZSE40 would only be about 2960 at the moment, still 25% below the 1987 peak. The All Ords has increased 192% over the same period. No wonder the typical NZ M&P investor prefers property over shares.

SEC

Any Kiwi with at least half a brain is in OZ:rolleyes: If u have less than half a brain u r up the creek without a paddle.

duncan macgregor
04-11-2007, 08:01 AM
Any Kiwi with at least half a brain is in OZ:rolleyes: If u have less than half a brain u r up the creek without a paddle. Thats it then i have at least half a brain. With my at least half a brain i worked out that the NZ dollar was way to high thats why i moved to the ASX. About 8% gain on that alone which means i am not brain dead after all. There are more and better opportunities on the ASX than there is on the NZX but a good investor will succeed in any market. A really good yardstick is the share competition from the same investor who takes part in both ASX and the NZX. I know my ASX picks are streets ahead of my NZX selections. Macdunk

Toulouse - Luzern
12-11-2007, 09:40 PM
A tale of two cities part 2:

In a down day market

NZX compared with ASX
ANZ -3.8&#37; -2.0%
AMP -1.5% -2.1%
FBU -1.4% -1.2%
GFF -6.0% -2.0%
WBC -3.4% -2.2%

The kiwis are more afraid than the kookaburras

SEC
11-12-2007, 11:51 PM
Update - so far this year S&P ASX200 Capital Index +19.8&#37;, NZX All Capital Index -0.9%.

Update - with the year nearly gone the S&P ASX200 Capital Index is +17.8%, NZX All Capital Index -5.2%.

Let's see Weldon and his journo groupies try and put a positive spin on what has been a horrible year for the NZX indices.

SEC

OldRider
12-12-2007, 06:57 AM
One or two other statistics, my year runs from April to March, so from April to now:

NZX/ASX Number of trades - 0.85&#37; lowest it has ever been

NZX/ASX Value of trades - 2.51% lowest a few weeks ago 2.46%

NZX/ASX Volume - 2.41% lowest it has ever been

Sad numbers, seems to me leadership with some inspiration is needed.

POSSUM THE CAT
12-12-2007, 08:17 AM
In my opinion will not get any better untill Weldon goes

Ttops
03-01-2008, 09:23 PM
In my opinion will not get any better untill Weldon goes
Nah PTC

When MacDunk "comes back" we'll all hear about it and NZX will prosper once more and the ASX will die ;)

Actually I agree with the half a brain theory
That anyone not in OZ has less than half a brain

I noticed a cunning Aussie trick this am . On two separate shares someone loaded the sells with heaps of small identical bids obliterating the sell depth with 10 little bids. Happened on Pem and LYC How is this done and why is it allowed. Is it brokers doing it?

Steve
03-01-2008, 09:39 PM
I noticed a cunning Aussie trick this am . On two separate shares someone loaded the sells with heaps of small identical bids obliterating the sell depth with 10 little bids. Happened on Pem and LYC How is this done and why is it allowed. Is it brokers doing it?

What do you mean, TT?

duncan macgregor
04-01-2008, 09:53 AM
Thats it then i have at least half a brain. With my at least half a brain i worked out that the NZ dollar was way to high thats why i moved to the ASX. About 8% gain on that alone which means i am not brain dead after all. There are more and better opportunities on the ASX than there is on the NZX but a good investor will succeed in any market. A really good yardstick is the share competition from the same investor who takes part in both ASX and the NZX . I know my ASX picks are streets ahead of my NZX selections. Macdunk I am ot brain dead after all guys. my ASX competition results were ASX 59% up with the average selecton for the competition at 17% up. My result for the NZX competion was a miserable 11% up with the average selection being minus 4%.. Since i only invest in the ASX i had an exchange rate gain on top of that. I wonder if there is anyone in both competitions last year with the opposite result which would be surprizing. I would think that my competition results for 2008 will follow a similar track with the ASX entries ending at a much higher percentage gain than my NZX entries. Macdunk

whiteheron
04-01-2008, 10:18 AM
From my experience I have received hugely better results on the ASX and have some time ago sold the last of my NZX shares
Hate to say this because I am a kiwi --- but I must put my money where I get the best returns and the ASX beats the NZX hands down

Also, one market is much easier to keep informed on than two

Ttops
04-01-2008, 10:55 AM
I noticed a cunning Aussie trick this am . On two separate shares someone loaded the sells with heaps of small identical bids obliterating the sell depth with 10 little bids. Happened on Pem and LYC How is this done and why is it allowed. Is it brokers doing it?
quote=Steve;179126]What do you mean, TT?[/quote]

Steve
Just at 12 yesterday on the ASX open NZ time someone put in a series of low sell bids increasing by 5 so that they were at the head of the sell depth on ASB SEC site for two shares (possibly more)Thus obliterating what was really happening at the open on the sell side. If I was to do it it would take me ages to enter the data. How is it done and why is it allowed. perhaps it can't easily be stopped without some penalty being imposed. I know why.. to hide what they are doing.

Robomo
05-01-2008, 05:44 AM
Nah PTC

I noticed a cunning Aussie trick this am . On two separate shares someone loaded the sells with heaps of small identical bids obliterating the sell depth with 10 little bids. Happened on Pem and LYC How is this done and why is it allowed. Is it brokers doing it?
Briefly in the buy of BBW-ASX yesterday there were 25 traders seeking about 45,000 shares. By the look of it they were all bought shortly thereafter. Is this some broker's recommendation to his clients?

SEC
09-05-2008, 12:11 AM
So far for 2008, ASX200 Capital Index -9.8%, NZX All Capital Index -13.2%. Excluding the forex gains by investing in the ASX.

And I thought the NZX was supposed to be more defensive and resilient in a bear market.

This could well end up being the 6th year in a row that the ASX has outperformed the NZX. The NZX Capital Index has only returned a measly 29.8% since April 2003.

Real funny reading that Terry Hall tripe now...

SEC

POSSUM THE CAT
09-05-2008, 07:25 AM
SEC you want to compare apples with apples as there are no direct comparisions
3/05/2008 NZX 50 Down 9.40&#37;
ASX All ORDS Down 10.29%
ASX 200 Down 10.09% Compared to closing figures on 31/12/2007

SEC
09-05-2008, 09:01 AM
SEC you want to compare apples with apples as there are no direct comparisions
3/05/2008 NZX 50 Down 9.40%
ASX All ORDS Down 10.29%
ASX 200 Down 10.09% Compared to closing figures on 31/12/2007

I am comparing apples with apples.

Read my other posts on this thread. You cannot compare compare a gross index with a capital index. The NZX 50 is a gross index.

The ASX200 and NZX All Capital Index is probably the best comparison available.

SEC

POSSUM THE CAT
09-05-2008, 10:06 AM
Sec it is still not apples with apples as you have not got all of the dogs in the Asx only the top 200 where you have all the NZ dogs included in the NZ all index.

SEC
09-05-2008, 01:11 PM
Sec it is still not apples with apples as you have not got all of the dogs in the Asx only the top 200 where you have all the NZ dogs included in the NZ all index.

I'm afraid it is apples with apples.

The 'dogs' you refer to in the NZ All index have virtually no impact on the index since:
a. Their market cap is miniscule, and
b. There are also 'stars' outside the NZX50 but included in the All Index that compensate for the underperformance of the dogs.

As a result, the NZX50 Gross Index and NZX All Gross Index have had virtually identical returns over the past 5 years.

A similar case can be argued for ASX200 vs All Ords.

SEC

brettdale
15-05-2008, 07:41 PM
After what the government did with AIA, Im sticking with the Aussie market out of principal.

Dr_Who
16-05-2008, 07:09 AM
I am having so much fun in the Aussie market that I dont even know NZ market anymore. Thank God for the Aussie market.

AMR
16-05-2008, 09:20 AM
Ditto. I also notice that NZX's order execution is slow and prone to getting whacked with slippage.