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  1. Papa G

    Industry super finds

    The popularity early access to super scheme of the government’s early access to super scheme has raised eyebrows at the ATO following reports that many of those accessing the scheme may not have been eligible and that large chunks of the cash have been spent on discretionary items. There have...
  2. Papa G

    Industry super finds

    Things should be valued for what they are valued at this moment in time, no what they might be in 5 years time, don't you think? The Retail funds are forced to reflect this in their returns, why should the Industry funds not be held to the same account? Outside the economic depression that...
  3. Papa G

    Industry super finds

    Of course they can, but I wouldn't be banking on something like Airports going up much any time soon. The problem is though, if you are misrepresenting your valuations, somebody who is withdrawing their money now gets those inflated values which aren't actually real. Then down the track, if...
  4. Papa G

    Industry super finds

    ......."Former ME Bank chief executive Anthony Wamsteker said a rotating roster of independent auditors kept the valuation process in check but added it was impossible to understand a company's true value until it is sold. "There is always that risk," he said. "Anytime you have an unlisted asset...
  5. Papa G

    Industry super finds

    Yes you can. Sydney Airport is a listed asset. It was over $9 in February. It's now $5.75. That's the difference. Daily pricing. Real time pricing. Correct pricing. Industry funds for assets like these do not give real time pricing. Melbourne airport is owned privately by mainly, you...
  6. Papa G

    Industry super finds

    Australian Listed Property trusts are down 34%. Infrastructure assets such as Airports are down nearly 50%. Industry Super funds have re valued their unlisted asset books (which includes direct property and infrastructure investments as well private equity) by between 7.5 and 10%. Its complete...
  7. Papa G

    Industry super finds

    Nah mate, I'm calling them out because their lies have finally come back to bite them. Their inflated returns and illiquity on the back of huge portfolio weightings to unlisted investments as well as their reliance on single industries has been laid bare. They escaped all scrutiny through the...
  8. Papa G

    Industry super finds

    So I was wrong about this. Funds that are industry specific have been massively exposed. No money coming in, people pulling out, 40% invested in illiquid funds, bullshit valuations, the chickens are coming home to roost.
  9. Papa G

    Cory Bernardi

  10. Papa G

    Industry super finds

    https://www.theage.com.au/business/companies/its-inevitable-super-giant-ramps-up-lending-to-property-developers-20190723-p529rt.html Mmmm. Interesting. Now funding their own buildings through their own debt arrangements. These guys are actually getting too big. Screams Ponzi.
  11. Papa G

    Industry super finds

    Cbus works s bit like a ponzi scheme. They have huge exposure to unlisted assets so they continually pad their valuations and returns. Its a Ponzi scheme that won't fall over though as they have 700,000 member putting in 9.5% of their wages each year so they'll never have a cash flow problem.
  12. Papa G

    Industry super finds

    Income Protection outside of super is tax deductible. It will generally have more ancillary benefits. Many super funds only offer a 2 year benefit. Cbus, the fund in question, doesn't offer income protection to the rank and file. It's life/TPD is almost always more expensive than retail...
  13. Papa G

    Predict the results of the 2019 Federal Election

    Can you do an analysis on how many low paid workers actually work for big industries/companies where these large profits are being made and the percentage that work for small business?
  14. Papa G

    The Banking Royal Commission

    Does this not show you the power of the big banks to buy/kill the opposition? Like what Hayne proposes to help them do further. Like the ALP gleefully wants to do? My impression from the Get Go of the Royal Commission was that the majority of people in this country wanted to give the Big...
  15. Papa G

    The Banking Royal Commission

    Exactly. FMD. The greed comes from the Tate's trying to build their own property empire whilst using negative gearing and cross collatoralization. When it goes belly up its suddenly all the banks fault. Glory be. You tried to get rich quick and it failed, quick find someone else to blame...
  16. Papa G

    The Banking Royal Commission

    Every time you go for a loan and get knocked back it effects your credit rating. Your credit rating effects your ability to get a loan. If a deal is a little dicey (I believe it can be more difficult for self employed over PAYG for example) or needs specialist attention, you go to the wrong...
  17. Papa G

    The Banking Royal Commission

    If you're a comfortably middle class established person with financial nouse and a sizable deposit, then a mortgage broker is probably unnecessary. For everybody else, it's entirely advisable.
  18. Papa G

    The Banking Royal Commission

    The 7:30 Report and 4 Corners really are no different to A Current Affair and 60 Minutes. I've come to realise that.
  19. Papa G

    The Banking Royal Commission

    There's nothing wrong with bagging a sh*t recommendation.
  20. Papa G

    The Banking Royal Commission

    Or we could sit back and consider the recommendations and their possible implications. Remember Kenneth Hayne is a retired Barrister/Judge, he isn't an economist or expert on financial markets. He certainly isn't God and he certainly isn't infallible. Remember these are his recommendations...