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| Thread ID: 81767 | 2007-08-06 10:50:00 | NZ Mum & Dad investors having a bad time. | rogerp (6864) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 577144 | 2007-08-06 10:50:00 | Anyone here know of people who have recently lost money in these so called Managed Funds, such as Bridgecorp? Personally none of my family has, however we have a few family friends who have. One has lost almost $200,000, after being recommended to them by a financial advisor. It was their retirement fund. One of these friends has since had a nervous breakdown. Because it is such a embarrassing thing losing money, the majority of these Mum and Dad investors have kept very quiet, and are dealing with it privately. However it isn't just managed funds that Mum and Day investors are getting screwed on. It is also the sharemarket, and the property market. Lots of Mum and Dad investors are put their money into conservative shares such as Telecom, Feltex, Auckland Airport etc. We all know what happened to Feltex, but both Telecom & Auckland Airport have very large percentage of shareholdings owned by New Zealanders, and both of these two have been affected by government interventions or comments that have adversely affected the price. Then there is the Auckland apartment market that a lot of Mum and Dads have invested in, which they will probably make a huge loss if they were selling them now. Is it just me, or has there been so much negative news regarding investing in NZ. Are we heading towards an economic disaster in NZ? I can't remember this many investment problems since the 87 sharemarket crash. |
rogerp (6864) | ||
| 577145 | 2007-08-06 10:53:00 | Not me personally but I imagine there must be a number of people hit by the Bridgecorp collapse. I know of a few Telecom investors whose investments must be looking a bit lean. | winmacguy (3367) | ||
| 577146 | 2007-08-06 11:01:00 | Not me personally but I imagine there must be a number of people hit by the Bridgecorp collapse. I know of a few Telecom investors whose investments must be looking a bit lean. About 0.5% of the population has apparently lost money, which is quite a lot, amounting to half a billion dollars lost from our economy. |
rogerp (6864) | ||
| 577147 | 2007-08-06 11:08:00 | Ad the current exchange rate to that mix and a lot of exporters will be continuing to feel the pinch as well. Fortunately my savings are pretty safe. | winmacguy (3367) | ||
| 577148 | 2007-08-06 11:10:00 | I'd like to play the world's smallest violin for them, but decided that a far more appropriate response would be hysterical laughter. | zqwerty (97) | ||
| 577149 | 2007-08-06 11:12:00 | I guess that is why you have a diversified portfolio of both national and international investments and plan to have it for 10-20 years to avoid being affected by glitches like this. I feel sorry for the guy on Campbell live who got financial advice before investing as well as doing research but still hurt financially. |
winmacguy (3367) | ||
| 577150 | 2007-08-06 11:14:00 | Never gamble more money then you can afford to lose. | Metla (12) | ||
| 577151 | 2007-08-06 11:19:00 | Never gamble more money then you can afford to lose. Wise words. My dad told me the same thing 20 years ago and I have followed the advice ever since. |
winmacguy (3367) | ||
| 577152 | 2007-08-06 11:21:00 | Metla's got it in a nutshell. All investment involves risk - that's why it pays. Personally, I have a lot more sympathy for the people who pour money into pokie machines and lose it all. |
Deane F (8204) | ||
| 577153 | 2007-08-06 11:47:00 | Dumb ass people breaking the rules Dont put all your eggs in one basket. Dont believe everything anyone tells you. If you cant afford to lose it dont invest it for high returns, put the money in a bank which is at least a 100 years old. The chances of losing your money would be about the same as getting hit by space junk. Also a lot of high return investments have fees and the real return may be only slightly higher than a blue chip bank. And my rule dont bleat on TV when you lose your money. People will hate you because you had so much money in the first place. I drive a Morris so you can tell how much I know about money. tedheath |
tedheath (537) | ||
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