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CJ says sell up!
Topic Started: 20 Sep 2014, 06:26 PM (6,856 Views)
Trojan
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Zembelin
21 Sep 2014, 04:30 PM
I'll be taking advice from the Reserve Bank Governor before I'd take it from an anonymous poster on AFP.

http://www.afr.com/p/national/rba_glenn_stevens_urges_action_to_zQDQkxTeiTKlXdg9qXSN8H
With all due respect to Stevens, he has an agenda and it isn't making me financially independent and retire early. I weigh up the available data and make my own decisions. Had I listened to the bears, I would have been sitting on the sidelines since 2006 waiting for a crash. Instead, I built up a property portfolio in Sydney and have financially benefited from it.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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ThePauk
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Trojan
21 Sep 2014, 07:08 PM
With all due respect to Stevens, he has an agenda and it isn't making me financially independent and retire early. I weigh up the available data and make my own decisions. Had I listened to the bears, I would have been sitting on the sidelines since 2006 waiting for a crash. Instead, I built up a property portfolio in Sydney and have financially benefited from it.
Mmmm, no, when you sell you can report on the benefits, until then, all vapour....
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herbie
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ThePauk
21 Sep 2014, 07:38 PM
Mmmm, no, when you sell you can report on the benefits, until then, all vapour....
So Yearly Statements of Financial Position are of no interest or value or relevance to you then Pauk?
Edited by herbie, 21 Sep 2014, 07:49 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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ThePauk
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herbie
21 Sep 2014, 07:45 PM
So your Yearly Statements of Financial Position are of no interest to you then Pauk?
Herbs
My Financials do not include any vapour. When I sell, I realise the gains, up until then, nothing is reported.
In company accounts, any goodwill is pure vapour and mine contain zero.
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herbie
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ThePauk
21 Sep 2014, 07:48 PM
Herbs
My Financials do not include any vapour. When I sell, I realise the gains, up until then, nothing is reported.
In company accounts, any goodwill is pure vapour and mine contain zero.
I've got squat goodwill in mine either.

But that wasn't what I asked you.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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ThePauk
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herbie
21 Sep 2014, 07:51 PM
I've got squat goodwill in mine either.

But that wasn't what I asked you.
A Statement of a Financial Position is a balanace sheet. If the assets are valued at 'market rates' and includes 'goodwill' they they are useless, until the business is sold.

It is like the maddness of a bot saying my house is worth $2 million, when in reality, it is worth what someone will pay for it. I doubt any investor would put a vapour amount into a balance sheet. Do you?

I can not go to a bank with a balnce sheet that 'values' my goodwill at $1m and expect them to count any of it. They will not.
Edited by ThePauk, 21 Sep 2014, 07:58 PM.
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Garden Variety
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b_b
21 Sep 2014, 10:10 AM
The bulls here have a pretty good track record in understanding the cycle compared to say, macrobusiness and other mainstream economists. Not saying they will always get it right, but they have runs on the board.
Yeh, and me puppy hasn't died for 2 years so hes gunna live forever.

All great wealth used to be stolen, then we started makin it, now some people want to go back to the old days of corruption and theft ... I guess thinkin work is just too hard for the modern drongo.
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herbie
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Garden Variety
21 Sep 2014, 07:57 PM
Yeh, and me puppy hasn't died for 2 years so hes gunna live forever.

All great wealth used to be stolen, then we started makin it, now some people want to go back to the old days of corruption and theft ... I guess thinkin work is just too hard for the modern drongo.
Thinking work (IMO) is too hard for 95% of people - Which probably includes maybe 90% of them what's paid pretty good loot to pretend that they can do thinking work even though they can't.
ThePauk
21 Sep 2014, 07:54 PM
A Statement of a Financial Position is a balanace sheet. If the assets are valued at 'market rates' and includes 'goodwill' they they are useless, until the business is sold.

It is like the maddness of a bot saying my house is worth $2 million, when in reality, it is worth what someone will pay for it. I doubt any investor would put a vapour amount into a balance sheet. Do you?

I can not go to a bank with a balnce sheet that 'values' my goodwill at $1m and expect them to count any of it. They will not.
Stop raving drivel and answer the question AS ASKED Pork. (With the question as asked including NO mention or even alluding to any goodwill component)
Edited by herbie, 21 Sep 2014, 08:11 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Dexter
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ThePauk
21 Sep 2014, 07:54 PM


It is like the maddness of a bot saying my house is worth $2 million, when in reality, it is worth what someone will pay for it.

Why then would you want to include a PPOR in the asset test for the pension if it's worth can't be determined unless it is sold.
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Trojan
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herbie
21 Sep 2014, 07:45 PM
So Yearly Statements of Financial Position are of no interest or value or relevance to you then Pauk?
The final bastion of someone who sticks their head in the sand and pretend house prices haven't been rising.
Pauk Is on ignore for good reason.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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