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In today’s report, Super Stock Selectors – Origin, Magellan Financial and Telstra, I note that Paul is quoted that he does not like Dexus (and Property Trusts), however, it is in the model Income Portfolio. I was of the belief that there should be some diversification in this field.
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Could you suggest whether it’s worth taking up the NAB retail entitlement, considering my portfolio consists of 40% banks and Telstra shares?
Also, where do the fund managers invest their cash when they state they’re sitting on the sidelines waiting for better value in the market?
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I have a self managed super fund and I am not happy with the fees I am charged by my accountant when he submits my tax returns to the ATO. Please give me an indicator of what the average cost is, including the audit fee.
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I have been reading your articles on ETF’s and my question is, do they pay dividends? I can see that the STW one pays a 4.23% return, and assume the dividend is paid every 6 months. I cannot find any information for VEU or IEU, so do these two pay dividends? How do I find out whether an ETF pays a dividend, or not?
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Paul,
I think there at least should be a note on the real estate area. I have watched John McGrath talking positively about the Sydney market, but as I watch people desperately trying to buy the next property even with a simple 20% deposit, I wonder what happens when the merry go round slows down. I am not talking a market collapse here by the way.
As an example, I use a $1 million property with a deposit of $200,000, leaving a loan of $800,000. If the market simply pulls back 10% (which is quite possible) the bank may look at the properties and say you need to top up. Following the example, the $1 million property now moves to $900,000, the loan is $800,000 the ratio is still 80% by the bank and so they now need a top up of $80,000 to bring it back into kilter.
If the loan ratio is further up towards 90% it gets worse.
This needs to be broached, as if this starts to occur, then there will be a serious amount of tears around the place.
Australian banks have shown themselves to be very quick to ensure shareholders funds and bonuses are not impacted by market fluctuations.
Your thoughts?
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Is it possible to have a stab at quantifying how much damage may be done to the big four banks if APRA/Joe Hockey were to accept David Murray’s recommendation that the banks hold more capital?
I understand there are many variables involved, but as one who is heavily overweight in the big four (and who has been well-served by them), what should a ‘reasonable person’ do?
I note Charlie says buy most of them, including the regionals, ‘on the dips’.
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