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Can’t Buy Me Health
Read more: Can’t Buy Me Health“Wow, they’re still going!” We’ve probably all thought it or said it. A story appears in the media reminding us that there’s a small group of people who never seem to retire: Musicians. To name the most obvious, Bruce Springsteen in his mid-70’s, Paul McCartney into his 80’s, and two of the remaining Rolling Stones, Mick Jagger and Keith Richards into their early 80’s. We all might marvel at how they’re still going, but the question would be why are they still going? Money? Unlikely, as estimates suggest they’d all be billionaires, or close to it. There’s little they couldn’t…
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Fiddling with The Future Fund
Read more: Fiddling with The Future FundThe Future Fund has a new statement of expectations and new investment mandate. From the government press release: The new Investment Mandate will require the fund to consider Australia’s national priorities in its investment decisions, where possible, appropriate and consistent with strong returns. These national priorities are: Some are saying it’s just wording and won’t mean much. Others have suggested there wouldn’t be a change in wording unless the government was intending to lean on the Future Fund and direct them into the areas specified, specifically whatever their pet projects were. Plenty have opined if such investments were worthy, then…
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How to Price Risk
Read more: How to Price RiskOne of the big allures of investing is finding a company at a low price, buying it, and then riding it to a high price. Very sweet. It’s said that losses are felt more acutely than wins, but hitting a big winner would be an amazing feeling. Unfortunately, it’s very hard to do. Being right once, discovering that unpolished gem of a company before it soars is hard. Being right twice, having the unemotional demeanor to sell it and make a clean break with your loot, is even harder. It doesn’t stop people from trying because for every dud an…
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Investing Has Been Solved
Read more: Investing Has Been SolvedA few years back, entrepreneurial guru Tim Ferriss, had the author and documentary maker Sebastian Junger on his podcast. Junger, who has taken plenty of risks in his career, including spending substantial amounts of time embedded with US soldiers in Afghanistan, was asked by Ferris what advice a 70-year-old Junger would offer to his current self. Junger offered the following: I think I would say to myself that the world is this continually unfolding set of possibilities and opportunities. And the tricky thing about life is, on the one hand, having the courage to enter into things that are unfamiliar. But…
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Working Class Returns
Read more: Working Class ReturnsSeven News recently featured a story on rocker Jimmy Barnes. Jimmy was selling up his family home in Sydney to move to his new base in the Southern Highlands of NSW. What was the price to take over the working-class man’s converted Botany warehouse? Jimmy was hoping to get $4 million, after paying $1.61 million 17 years ago and spending another $1.6 million on renovations. The Seven reporter described it as a “clever investment”. If Jimmy and his family hit the $4 million sale mark (being Sydney, they’ll likely blow past it) we still wouldn’t describe it as a “clever investment”. Putting…
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