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  1. #551
    Membaa
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    Quote Originally Posted by Balance View Post
    All the more reason why the NZX needs to be restructured transformatively - it's too important a part of NZ's economic infrastructure to be left to the current clowns in charge to continue to stuff up.

    NZX and its shareholders at that time (especially Milford) were warned about Mark Weldon plucking the feathers off the NZX goose - alas, they not only did not listen, they actually encouraged him to pursue his 'my way or the highway' management style.
    Will this make a difference?

    https://www.nzx.com/regulation/nzx-r...g-rules-review NZX finalises market structure and listing rules

    Bryan Gaynor https://www.nzherald.co.nz/business/...ectid=12153612

  2. #552
    Legend Balance's Avatar
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    Quote Originally Posted by Baa_Baa View Post
    Will this make a difference?

    https://www.nzx.com/regulation/nzx-r...g-rules-review NZX finalises market structure and listing rules

    Bryan Gaynor https://www.nzherald.co.nz/business/...ectid=12153612
    Brian Gaynor writing about the NZX is like the late Rob Muldoon writing about the NZ economy - both could not have got their subjects more wrong!

    Brain praised Weldon to high heavens and supported his NZX strategy of milking the participants with excessive charges while gutting the NZX out of management depth and experience (my way or highway) and a future!

    All okay while Brian and Milford were shareholders and the sp kept going higher, see?

    "Some are still hesitant to publicly applaud Weldon for enlivening the stock exchange. One leading broker, who wouldn't put his name to his comments, said Weldon had done "a brilliant job" and was "pretty visionary". He gave the exchange seven-and-a-half out of ten for performance. Gaynor is more generous about Weldon. "He's really transformed it into a far more exciting place. He's gone out to encourage new listings, and that's the key. Most industries depend on new products. We went through more than ten years when we had virtually no new products, mainly because the stock exchange said that was the obligation of brokers."

    Now Brian wants to critique NZX?

    Simple solution for NZX before it disappears into irrelevancy - merge with ASX and offer ASX stocks in NZ. End of story.

  3. #553
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    Quote Originally Posted by Balance View Post
    ...
    Simple solution for NZX before it disappears into irrelevancy - merge with ASX and offer ASX stocks in NZ. End of story.
    My thoughts as well

  4. #554
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    Wait till there's negative2 equity in property and then see the Ozzy banks true colors as they start to foreclose.

  5. #555
    ShareTrader Legend bull....'s Avatar
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    NZX trading getting busier on lower value transactions

    http://www.scoop.co.nz/stories/BU1812/S00157/nzx-trading-getting-busier-on-lower-value-transactions.htm

    all just a fudge really to make improved volume look like its happening.
    one step ahead of the herd

  6. #556
    ShareTrader Legend bull....'s Avatar
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    wow starting a 10 yr working group lol dont know how many companies be left by then and of course the cgt depending on outcomes could kill off the exchange quicker still

    https://www.nzx.com/announcements/329758
    Last edited by bull....; 24-01-2019 at 08:22 AM.
    one step ahead of the herd

  7. #557
    Legend Balance's Avatar
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    Quote Originally Posted by bull.... View Post
    wow starting a 10 yr working group lol dont know how many companies be left by then

    https://www.nzx.com/announcements/329758
    Yet another study and report to give illusion of something happening while NZX goes backwards.

  8. #558
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    Mark Lister from Craig’s thinks great ...

    @marklisternz
    Great that @NZXGroup and @FMAmedia are doing something proactive for the benefit of our capital markets, which are crucial to the economy, for businesses to grow & create jobs, & our retirement savings. Let’s hope this attracts govt support …-website-ap-southeast-2.amazonaws.com/attachments/NZ…
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  9. #559
    Legend Balance's Avatar
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    Quote Originally Posted by greater fool View Post
    Yup. Study conducted by an insider to insure vested interests are well looked after.

    http://www.sharechat.co.nz/article/f...ts-review.html

    "The two organisations have appointed Martin Stearne, supported by accounting firm EY, to head the review. The results are expected to be published in the September quarter.
    Stearne is a corporate consultant and a member of NZX’s listing sub-committee and was recently appointed to the Takeovers Panel. He was an investment banker with FNZC and its predecessors for 20 years, ending his tenure there as managing director."
    NZX has been screwed up real good by Weldon and his bunch of self-interested misfits directors, eagerly supported by shareholders at that time like Milford (Brian Gaynor) and Forsyth Barr (Neil Paviour-Smith).

    The only way to change NZX's fortunes is to acknowledge how badly screwed up it is, reverse many of the dumb decisions made by Weldon & his misfits and start afresh.

    Otherwise, it's down down down .

  10. #560
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    While NZR has paid a good dividend for many years, I have to question the longer term sustainability in the face of four current and potential headwinds:

    1. the ever present threat of a competing platform for trading shares (like Chi-X in Australia) taking a chunk of their market. Possibly the small size of the NZ market is the only reason this hasn't happened yet
    2. declining pool of listed companies - defections to ASX and delistings seem to be exceeding new listings
    3. rise of the low cost passive fund - if/when these take up a bigger slice of the investment market, I would expect it to adversely affect trading volumes
    4. capital gains tax - investors will be less inclined to sell and get hit with additional tax (even more so when National has pledged to repeal any capital gains tax which comes in)

    I just don't see how NZX can grow meaningfully.

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