Managed funds

[winner (n)]

Basil - i've told you many times over the years that watching CNBC is bad for you - in more ways than one

Saw research the other day that trust in the media is a lot lower than it was years ago

also looking at the Consumer Sentiment survey charts for NZ is illuminating, Its been trending down since mid 2000's - even when it gets better these days still lower than years ago. Might be a measure a consumer sentiment but it's really measuring the mental state/ well being of the population over the years - the population is not as happy as it was. Part of the blame is the declining journalistic standards creating a 'biased' media along with the rise of social media and 24 hour television.

Doing what you suggest will be good for you

but for goodness sake don't tune into Mike Hosking

Cheers

[Basil]

Thanks Winner. Tony and I loved our long walk in the sun today.

I swear I heard him bark and growl at the black depression dog and tell him to bugger off 

[Shareguy]

I am starting to come to similar conclusions. The New Zealand share market simply isn't liquid enough and doesn't have enough interest to justify any large positioning. And any positioning you do take must be extremely discounted. Buying something for "fair value" on the NZX is likely to achieve far worse returns than simply buying an international index. There is no point. Of course, this will also create opportunities on the NZX as more people ignore it. However, just from my own position, I can understand the underlying businesses and trends, AI, tech, etc. etc., far more in international markets than I can locally. This was also underlined to me recently when I was talking to a broker about the extremely poor performance of SUM, notwithstanding that it's such a well-run business. They were saying that one of the set reasons is that Australian institutions have absolutely no faith in the New Zealand economy at the moment and have pulled bids. Again, this creates an opportunity potentially, but not much fun if you are already in the stock!

Not really sure what I'm trying to say, but my own NZX single stock picking is by far the worst returning asset class for me personally versus any and all others (forex, crypto, commodities, US stocks, anything).

More than happy to be corrected.

Yes unfortunately the NZ economy is struggling compared to Australia which is highlighted with our weak dollar. If you look at most funds and even ACC and the Superfund all have one thing in common, that is the majority of investments are offshore. Have just changed to Milford for my Kiwi saver and noticed that they claim to only have 7 percent in NZ equities.

I also brought some Sum to early. But for long term holders I think it will come right. I'm also of the viewpoint that when things change and history says it will that we have a number of good cheap companies that are going to attract attention from a takeover point of view. I have done very well in the past with Arvida and MetLife. When I buy shares I don't often get the low and when I sell it's not often I get the high. I'm convinced Sum will come right, however if you have a short term view you might be better selling and buying something else.

Unless you have good diversification in markets and just pick a few stocks then it could end very badly. Index Funds give you broad exposure for people that want some exposure but don't want to own lots of different stocks in my opinion.