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  1. #511
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    Quote Originally Posted by TeslaGod View Post
    I purchased my first home in 2001.

    Then many,many,many more over the next 2 decades.

    Apart from dealing with annoying vendors and real estate agents it was (relatively) easy.I miss those days.

    I even purchased more after I retired, I have never been one for excuses.

    I guess everyone to there own.
    Then I guess you will be glad to read articles like this.

    https://www.stuff.co.nz/business/126...-survive-covid

    Apparently 7-8% annual house price growth is not enough expect the inflation target of 1-3% to be ignored or changed according to this article. The options are to let asset prices fall, or inflate them further or possibly grow our way out with productivity increases.

    Some of us did not realise we had a government guarantee when buying a house, your gloating makes it worse.

    Still the article did mention why the central banks have been given an inflation target. Because politicians could not be trusted to do the right thing with control of the money printing. Sadly it seems central bank independence is not a real thing and all the spineless central bankers will not do their job when it gets tough.

  2. #512
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    Quote Originally Posted by Aaron View Post

    Some of us did not realise we had a government guarantee when buying a house, your gloating makes it worse.

    .
    You have me all wrong perhaps this clip help$
    https://youtu.be/sH0Qda32IKM

  3. #513
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    Quote Originally Posted by TeslaGod View Post
    You have me all wrong perhaps this clip help$
    https://youtu.be/sH0Qda32IKM
    I had NO guarantee when I made big bets on buying US stocks over the past 20+ years. I suppose compared to TeslaGod, we are all friends. But if you really want to see who is the better friend, I would say it would be those that chose similar paths as what I have done, and not use houses to achieve similar wealth. I mean it's been all too easy to get rich owning houses in NZ. The real challenge is managing your gamble without knowing the gov't will have your back. In NZ, the gov't always has the home owner's back, but not the shareholders, nor those losers in Hanover Finance.

  4. #514
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    Quote Originally Posted by SBQ View Post
    I had NO guarantee when I made big bets on buying US stocks over the past 20+ years. I suppose compared to TeslaGod, we are all friends. But if you really want to see who is the better friend, I would say it would be those that chose similar paths as what I have done, and not use houses to achieve similar wealth. I mean it's been all too easy to get rich owning houses in NZ. The real challenge is managing your gamble without knowing the gov't will have your back. In NZ, the gov't always has the home owner's back, but not the shareholders, nor those losers in Hanover Finance.
    The Greenspan put, Bernanke put and the Powell put, played NO part in your success buying US stocks over the last 20 years? Hard to believe.

  5. #515
    Senior Member TeslaGod's Avatar
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    Quote Originally Posted by Aaron View Post
    The Greenspan put, Bernanke put and the Powell put, played NO part in your success buying US stocks over the last 20 years? Hard to believe.
    Haha!, Very good, this is funny because it's so true.

    The Feds got my back for my NYSE/NASDAQ portfolio.

    Money printer go brrrrrrr!!
    Last edited by TeslaGod; 14-10-2021 at 09:59 AM.

  6. #516
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    Quote Originally Posted by Aaron View Post
    The Greenspan put, Bernanke put and the Powell put, played NO part in your success buying US stocks over the last 20 years? Hard to believe.
    That all depends on which stocks you own. I still remember clearly the GFC leaving some of my friends scarred for life. They were invested in a savings scheme like Kiwi Saver over 10 or 20 years, only to see over 50% of it disappear in 2008. One friend being so shocked, he made his financial advisor to sell everything up. The mentality was this, "I'm down 50%, and the market is looking to drop another 20%... I WANT OUT" You don't get this kind of market volatility when you own houses and the banks are far less concerned about risk when it comes to mortgages vs personal loans. This is the reality and it is of no real feat for TeslaGod's achievement.

  7. #517
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    Quote Originally Posted by SBQ View Post
    That all depends on which stocks you own. I still remember clearly the GFC leaving some of my friends scarred for life. They were invested in a savings scheme like Kiwi Saver over 10 or 20 years, only to see over 50% of it disappear in 2008. One friend being so shocked, he made his financial advisor to sell everything up. The mentality was this, "I'm down 50%, and the market is looking to drop another 20%... I WANT OUT" You don't get this kind of market volatility when you own houses and the banks are far less concerned about risk when it comes to mortgages vs personal loans. This is the reality and it is of no real feat for TeslaGod's achievement.
    I'm not sure why you referenced Kiwisaver as KiwiSaver only started mid 2007 . So most peoples balances were minimal and it was a great time to be accumulating growth assets in a Long Term savings scheme.
    I know you said "Like Kiwisaver ", but in any long term savings horizon you are going to get ups and downs. The beauty of Kiwisaver is your friends wouldn't be able to bail .

  8. #518
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    Quote Originally Posted by stoploss View Post
    I'm not sure why you referenced Kiwisaver as KiwiSaver only started mid 2007 . So most peoples balances were minimal and it was a great time to be accumulating growth assets in a Long Term savings scheme.
    I know you said "Like Kiwisaver ", but in any long term savings horizon you are going to get ups and downs. The beauty of Kiwisaver is your friends wouldn't be able to bail .
    Because SBQ literally has no idea what he's talking about, similar to his 2 man >$10million tourism company.

  9. #519
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    Quote Originally Posted by TeslaGod View Post
    Because SBQ literally has no idea what he's talking about, similar to his 2 man >$10million tourism company.
    Are you saying i'm telling a lie? Most small businesses die within 5 years, how many have survived over 20 or 30 years? I certainly don't gloat about it's success nor would care to give specifics. Though I will say, it's well earned wealth when compared to owning houses (for which the banks did lend you all the $ to buy). We never had this option and what happens back then still applies today - banks are not really interested in lending on business ventures.

    If you all have not understood my point. Not all asset classes have the same risk level. It's clear investments in houses is different to investments in equities (volatility). The vast majority of people that opted out of Kiwi Saver did so on the reason of having their funds locked up. Knowing friends in Auckland, instead they were able to save a portion of their income (which would have gone to KS), and instead, used it as deposits for mortgages. They did far better than the KS.

    A for this "long term investment horizon", I find it's nothing more than an excuse used in industry by financial advisors. It's a reassurance scheme they default to so they can evade blame for sub par performance. Whereas investment in houses - it's normally you and the bank that makes that decision and you have no 'advisor' to point to.

  10. #520
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    SBQ I'm not saying you're lying

    I'm just saying it's more believable having a net worth of 8 figures in real estate, someone can own a home in Epsom and a rental down the road and be worth 10million.

    I'm just saying it's a little hard to believe a 2 man tourism company with no tourist is worth >10 mil.

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