Hard News by Russell Brown

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Hard News: Only what we would expect a child to do

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  • Kumara Republic, in reply to Sacha,

    Nailed him on the whole 'mums and dads' being taxpayers thing, though. This is just another transfer of wealth from all of the public who already own those assets to those who can afford to buy shares. That's 'mums and dads' who look more like the Hotchins and the Fays - or foreign investment funds, more like.

    Or even Bernard & Ruth.

    The southernmost capital … • Since Nov 2006 • 5446 posts Report Reply

  • Sacha, in reply to Kumara Republic,

    who 'made off' with the dosh

    Ak • Since May 2008 • 19745 posts Report Reply

  • Rich Lock,

    don’t most super plans include a balance of investments including in stocks?

    Most super schemes do allow you to nominate where your savings get invested - usually some mix of options along the lines of: 'conservative', 'slightly less conservative', 'fairly risky', and 'crazy'. Joe Punter chooses what percentage of his or her hard-earned dosh goes where.

    Thanks to the GFC, 'cash' has been the best performing scheme over the last couple of years.

    back in the mother countr… • Since Feb 2007 • 2728 posts Report Reply

  • Rich Lock,

    came in to find my (better paid) American colleagues had royally stuffed up something I’d been working on. Being a humble diplomatic soul, I didn’t just say “Fuck man, put it back how it was, can’t you see that won’t work”. Instead I praised him for his alternative approach, then got him to explain to me how it could do the very thing that had led me down the more correct path. He hit the wall eventually, realized there was no way his design could be finished without some really, really hard, sophisticated coding. He concluded “I guess I should put it back how you made it?”. Still no triumphalism from me, instead “Yes, I’m sorry about that, it’s my fault for not explaining why I’d done it that way”. But curiously, this morning, I found both him and another guy requesting a code review from me, something they’ve only ever requested from my biz partner, the system guru. I was chuffed. We all won.

    Your Zen wisdom is strong like water, Wilson-San.

    back in the mother countr… • Since Feb 2007 • 2728 posts Report Reply

  • nzlemming, in reply to Rich Lock,

    Your Zen wisdom is strong like water, Wilson-San.

    Are you saying Ben's all wet?

    Waikanae • Since Nov 2006 • 2937 posts Report Reply

  • Rich Lock,

    Nah - pretty sure Ben'll get what I mean, especially being an Akidoka. It's intended as a compliment.

    Very crude version - water is weak because it offers no resistance and anyone can overcome it. But it is also strong: it eventually overcomes everything - the river carves out the valley, the sea destroys the cliffs.

    "For to win one hundred victories in one hundred battles is not the pinnacle of skill. To subdue the enemy without fighting is the pinnacle of skill." Sun-Tzu

    back in the mother countr… • Since Feb 2007 • 2728 posts Report Reply

  • Rob S, in reply to Rich Lock,

    Sorry to say but shares have done very well over the last 1.5-2 years. Better than cash. Not long after our financial geniuses on the treasury benches slowed down payments to the 'Cullen fund' ensuring that any pick up from the bottom of the market would be missed.

    Since Apr 2010 • 136 posts Report Reply

  • BenWilson, in reply to Rich Lock,

    You might have a point. I think I didn't really make the point I was trying to, though, that it's easy to be intimidated by people who should be better than you at something just because they're highly rated in a country like the US. I blame my kiwi-ness rather than my Zen, for opting for a line that got the job done without needing to humiliate someone.

    Auckland • Since Nov 2006 • 10657 posts Report Reply

  • nzlemming, in reply to Rich Lock,

    Nah – pretty sure Ben’ll get what I mean, especially being an Akidoka. It’s intended as a compliment.

    Jeez, did I have to put a smiley on that?

    Waikanae • Since Nov 2006 • 2937 posts Report Reply

  • Rich Lock,

    Ah, apologies for the mansplain, then. I was somewhat judgement-impaired by 8.30 last night, thanks to several stiff gins.

    back in the mother countr… • Since Feb 2007 • 2728 posts Report Reply

  • Rich Lock,

    Sorry to say but shares have done very well over the last 1.5-2 years. Better than cash.

    Yes, but my understanding is that that isn't necessarily reflected in the various super-schemes, where cash has been providing a better rate of return than the managed portfolios.

    back in the mother countr… • Since Feb 2007 • 2728 posts Report Reply

  • Rob S, in reply to Rich Lock,

    I spit on managed funds, they're for the benefit of the managers not the investors. My preference would be for tracker funds for less hands on types and let the more savvy types invest directly in specific shares as they desire. One wonders if share traders had to nominate their purchases a few days in advance whether this would dampen down some of the market volatility as they'd be taking a [comparatively] longer term view of the market. Probably good reasons out there showing why this isn't desirable or practical.

    Since Apr 2010 • 136 posts Report Reply

  • Sacha,

    Anyone exmained why not offer bonds rather than shares in these SOEs?

    Ak • Since May 2008 • 19745 posts Report Reply

  • Matthew Poole, in reply to Sacha,

    Anyone exmained why not offer bonds rather than shares in these SOEs?

    Maybe because there's no point? Key has as good as said that the plan will happen if he gets elected, no matter what the prolles may think of it, and without modification.
    His language is very much "Don't like it? Don't vote for me, because I don't care what you think."

    Auckland • Since Mar 2007 • 4097 posts Report Reply

  • Stephen Judd,

    To return to the topic of the Herald's celebrity obsession -- apparently the most newsworthy thing about Egypt right now is that Frank Bunce is there.

    Wellington • Since Nov 2006 • 3122 posts Report Reply

  • giovanni tiso, in reply to Stephen Judd,

    apparently the most newsworthy thing about Egypt right now is that Frank Bunce is there.

    Yes, It thought that that was worth immortalising. They're now running an AP story on the actual insurrection that is refreshingly Bunce-free.

    Wellington • Since Jun 2007 • 7473 posts Report Reply

  • Simon Grigg, in reply to Stephen Judd,

    apparently the most newsworthy thing about Egypt

    The Herald and international news mostly maintain a distance determined by the space more important stuff requires.

    Just another klong... • Since Nov 2006 • 3284 posts Report Reply

  • Russell Brown, in reply to Stephen Judd,

    To return to the topic of the Herald’s celebrity obsession – apparently the most newsworthy thing about Egypt right now is that Frank Bunce is there.

    It's not that this shouldn't be a story for New Zealand media. It actually is a story, as is the New Zealand journalist being beaten by police. Apart from anything else, I know at least one of the people there with Bunce. I hope they're getting pictures.

    But yes, when it's the only thing in the front of the paper it's a bit sad,

    Auckland • Since Nov 2006 • 22850 posts Report Reply

  • Craig Ranapia, in reply to Matthew Poole,

    His language is very much “Don’t like it? Don’t vote for me, because I don’t care what you think.”

    Well, yes Matthew - considering Labour's master narrative has been "National's secret privatization agenda" it seems a wee bit graceless to piss your pants because Key's actually going to do something he's campaigning on. Or for that matter, while I think Labour's tax policy is based on outright deceptive costings if they win the election I can't really fault them for putting it on the statute books.

    North Shore, Auckland • Since Nov 2006 • 12370 posts Report Reply

  • nzlemming, in reply to Craig Ranapia,

    I hope you've instituted a good training regime for your knee, Craig. In an election year, rapid, repeated jerking could be dangerous.

    Waikanae • Since Nov 2006 • 2937 posts Report Reply

  • Craig Ranapia, in reply to nzlemming,

    I hope you’ve instituted a good training regime for your knee, Craig. In an election year, rapid, repeated jerking could be dangerous.

    @nzlemming: Um, yeah. OK. No.

    Obviously I hit a nerve, but let's cut the crap for a moment. During the term of the Fifith Labour Government, how many times were they accused of having some "secret agenda" -- everything from raising the top tax rate in 1999 to the Civil Unions Bill -- for having the sheer cheek to legislate on their manifesto commitments? Many of which I didn't agree with, FWIW.

    Also, I don't live in a country where the Prime Minister can pass legislation by fiat. While it grieves me to say this, I'm not betting the house on National securing an absolute majority this year, let alone declaring Key Queen of the 'Verse.

    North Shore, Auckland • Since Nov 2006 • 12370 posts Report Reply

  • Rich Lock,

    To be fair on the Herald (oh how it pains me), today's paper has around five full pages worth of coverage of Egypt. Mostly buy-ins, but still an impressive amount.

    back in the mother countr… • Since Feb 2007 • 2728 posts Report Reply

  • Jacqui Dunn, in reply to Craig Ranapia,

    I don’t live in a country where the Prime Minister can pass legislation by fiat.

    Ah, but he could get Gerry to do it, couldn't he? :)

    Deepest, darkest Avondale… • Since Jul 2010 • 585 posts Report Reply

  • Matthew Poole, in reply to Craig Ranapia,

    it seems a wee bit graceless to piss your pants because Key’s actually going to do something he’s campaigning on

    It's not that that gets me, it's the absolute, hide-bound insistence that the policy as it stands is right and that no amount of resistance from the public could have any possible relevance or importance in the development of that policy.
    If he wins, he can implement any policy he can get the numbers for. However, given National's abuse of urgency to push through legislation without public consultation I have no faith that any legislation presented to the House will contain the slightest reflection of public interest or sentiment. This policy is absolutely about John Key, and nothing to do with what the public think is good for them.

    Key has as good as said that the only input to which he will pay the slightest heed is what he gets from Treasury. Given Treasury's well-known position on asset sales, it's a no-brainer that the sales will be recommended, and as quickly as possible. He's not going to get a contrarian syllable from that quarter, and he knows it.

    Auckland • Since Mar 2007 • 4097 posts Report Reply

  • Sacha, in reply to Craig Ranapia,

    it seems a wee bit graceless to piss your pants because Key's actually going to do something he's campaigning on

    So long as the consent of voters is not based on outright lies about the policy, I agree. Part of that is the responsilbity of our media who enjoy legal privileges in exchange for their supposed role in civil society. Oh, and of the parliamentary 'opposition' when they get their shit together.

    Ak • Since May 2008 • 19745 posts Report Reply

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