Barramundi ( BRM )

[SPC]

Yep share market investment is not set and forget. A share position requires regular review to determine its performance and suitability to the holder. Over many years of ownership there will be ups and downs, times to unload and stock up.
Looking over at the kpg thread would a smart investor really hold the stock for say 27 years as an example and take no action at points in the cycle where intervention is sensible?..if so then you're in the wrong game. Performance is in the eye of the observer and how long his choice of measuring stick is ie. 1..2..5..10..20 yrs and where it is placed on the time line.
You can't usually sit there and do nothing..think A2..think RAK ..any share.
KPG no different. Applies to every stock.

[Beagle]

Yes agreed but its harder to make money when the tide is going out. Investing in housing, (even without leverage) would have made you 6 times the money of KPG over that timeframe. Investment in another property stock RYM would have made you 55 times your money. It's one thing to try and time stocks but its much easier on a rising tide than an outgoing one.

Anyway back to BRM. I will watch from the sidelines for a while.

[SPC]

Ok just reminding you of this post from not too long ago.(Sorry not the first time).
Nothing had changed apart from your mind..?

"The bottom line for me is they're not just beating the ASX indices they're absolutely thrashing them year after year after year so I am happy to let them do all the thinking for me in Australia. In terms of me second guessing their strategy over there, I'm not going there in my head because their results speak for themselves. I like the lower workload that goes with this approach for me.
Try and outthink the Barramundi team or do more of this, its not a difficult choice lol"

Honestly Beagle you're a little hard to keep track of ..

[alokdhir]

Seems like Mr B converted his BRM warrants to Headshares and cashed out soon after . Now suddenly the premium which was so strongly supported earlier in many posts has started looking shaky ...

Point well noted again and again . lol

[Beagle]

Ok just reminding you of this post from not too long ago.(Sorry not the first time).
Nothing had changed apart from your mind..?

"The bottom line for me is they're not just beating the ASX indices they're absolutely thrashing them year after year after year so I am happy to let them do all the thinking for me in Australia. In terms of me second guessing their strategy over there, I'm not going there in my head because their results speak for themselves. I like the lower workload that goes with this approach for me.
Try and outthink the Barramundi team or do more of this, its not a difficult choice lol"

Honestly Beagle you're a little hard to keep track of ..

I forgot they also run the same portfolio in their managed fund. Sorry I am not "purrfect"

[SPC]

And my nose wouldn't be a patch on yours.
But keep me posted when the listed fund does its next round of warrants 😸

..or the next opportunity to buy in to the listed fund at less than nta value..😉

[alokdhir]

I forgot they also run the same portfolio in their managed fund. Sorry I am not "purrfect"

I had pointed that out here both their Units portfolios and tailored HNI portfolio service . But at that time all were not very accepting . Also was said that special treatment is for LISTED Pies only not Units pies as they have variable rate tax structure as per individual slabs . They dont have quarterly tax free dividend but u can do withdrawals but that is not tax proof ...like listed PIEs dividend is FINAL tax paid already and no need even show or keep any records or file IR3 if u have only income from listed PIEs . Main reason why they so loved . Additional benefit is to 39% slab HNIs

[SPC]

I had assumed the hound slumbered in a basket with 2 sides and each morning was different. Now I think the basket is round.. crikey..😄

[Beagle]

I had pointed that out here both their Units portfolios and tailored HNI portfolio service . But at that time all were not very accepting . Also was said that special treatment is for LISTED Pies only not Units pies as they have variable rate tax structure as per individual slabs . They dont have quarterly tax free dividend but u can do withdrawals but that is not tax proof ...like listed PIEs dividend is FINAL tax paid already and no need even show or keep any records or file IR3 if u have only income from listed PIEs . Main reason why they so loved . Additional benefit is to 39% slab HNIs

Could it be that at the time it wasn't in some people's financial interest to be accepting
I would think it difficult for the IRD to make a case that replicating the same dividend distribution from a listed PIE with an unlisted PIE fund should attract a different tax treatment but confess I haven't looked into this and furthermore don't intend to as I'll probably not take any dividends from the unlisted PIE but sell the lot and reinvest in the listed company when the shares trade at a discount to NTA. BRM have a very long history of predominantly trading at a material discount to NTA and only a very brief one of trading at a premium.
Beagle's can be patient when all their capital is working for them, not 85% of it

In the meantime I wouldn't rule out dabbling with buying future warrants on issue while holding the managed funds units...a VERY happy hunting ground for this old mutt.

[SPC]

The answer to the tax treatment of pies vs units lies in the introduction of the KiwiSaver scheme by the late Sir M Cullen.
It was designed this way to give investors choices.