HGH - Heartland Group Holdings

[Beagle]

I too have bought some Kiwi Bonds, only got the 0.5% rate as I bought them last week. (Bought them before during the GFC so have some experience with them.) The Kiwi Bond information website says that you can buy them from some registered banks, however, after visiting quite a few banks Kiwibank, ASB, Westpac, BNZ - not one teller even knew what I was asking for?? They thought I wanted Bonus Bonds? So ended up dropping off my application form in the drop box outside the ComputerShare office in Takapuna, as you are not able to go up to their office anymore.

Beagle can I ask, why did you open a TSB account and not a Kiwibank account - just wondering, do you think it is safer? As also looking to spread money between banks, currently just have Kiwibank and now Kiwi Bonds.

I had a look through TSB's financial statements and their history. I think they are the safest bank in N.Z. and I love the fact that they are owned by the TSB Community trust and all profits go profits go back into the community, (makes the dog feel really warm inside). My read on them is they are the most traditional bank of any in N.Z.

HGH have a better level of capital and should be fine. For what its worth I have term deposits with HGH, BNZ and TSB as well as the Kiwibonds. I have just over 50% of my portfolio in Kiwibonds.

[winner69]

Couple of economists out today predicting GDP to decline by 6% over the rest of 2020 ...

Bank economists are a bit x#3%+. (Don’t know the word)

Economic activity down at least 50% next 3 months ....even if it rebounds to normal for rest of year hard to get only 6%

And those same economists say unemployment only going to blow out to 7% ....surely has to well over 10%

[Beagle]

They're just guessing like the rest of us.

[BlackPeter]

Bank economists are a bit x#3%+. (Don’t know the word)

Economic activity down at least 50% next 3 months ....even if it rebounds to normal for rest of year hard to get only 6%

And those same economists say unemployment only going to blow out to 7% ....surely has to well over 10%

Don't forget - we are in uncharted territory. The bank economists know as much about the shape of the economy in a year, than the 15th century chartists knew about the shape of the American continent.

[Cyclical]

Bank economists are a bit x#3%+. (Don’t know the word)

Economic activity down at least 50% next 3 months ....even if it rebounds to normal for rest of year hard to get only 6%

And those same economists say unemployment only going to blow out to 7% ....surely has to well over 10%

Maybe they 6% GDP decline figure has had some communist party spin applied?

[stoploss]

Don't forget - we are in uncharted territory. The bank economists know as much about the shape of the economy in a year, than the 15th century chartists knew about the shape of the American continent.

Someones quote not sure who " They made economists to make weather forecasters look good "

[winner69]

Someones quote not sure who " They made economists to make weather forecasters look good "

and weather forecasts benchmark is 'tomorrows weather the same as todays'

If they beat that they are good

That's why economic forecasts are often just he long term average

But they sat accountonomists are becoming popular

[GTM 3442]

Getting way off topic now, but how would money say in a Jarden Trading Account in AUS $ be considered if there were a haircut? I suppose I should ask them!

The Australian government scheme only covers Australian dollar accounts. I doubt that the NZ government would take on the currency risk when setting up a guarantee or deposit scheme.

[percy]

Perhaps The NZ Govt should only guarantee deposits in NZ owned banks ?.............lol.

[SCOTTY]

Perhaps The NZ Govt should only guarantee deposits in NZ owned banks ?.............lol.

Brilliant Percy. I like it