[BITList] Aussie Investing

[David Harvey]

Heartily agree with those figures Frank. One thing though the retirement
village I live in invested $1m. with Lehman Bros. (Money on hand that had to
be used for rebuilding a bit down the track). At the Board Meeting where
it was decided to make this investment I spoke against it but
was overruled by the remainder of the Board, including the the Chairman who
was the Western Australian State Treasury Under Secretary and is now the
State Auditor). I thought the interest offered was too high and that it was
an unsafe investment. I succumbed to the better knowledge of things
financial by those "business" people who sat on the Board so eventually shut
up. I was the representative of 1100 residents in the Village.

Having said that though the interest on the investment is still being paid
although we are told the capital is gone. About 18 months ago the ANZ Bank
offered to purchase our investment at .95cents in the dollar. Again I was
the lone voice that wanted to accept, the logic being that with interest
already received we would not actually loose any cash. One other voice
wanted more detail, but I lost the argument.

I have since resigned from the Board.

Dave

On 22 August 2011 16:28, franka <franka at iinet.net.au> wrote:

>
>        *Aussie  Investing** *
>
> If you had purchased $1,000 of shares in Delta Airlines one year ago, you
> will have $49.00 today.
> If you had purchased $1,000 of shares in AIG one year ago, you will have
> $33.00 today.
> If you had purchased $1,000 of shares in Lehman Brothers one year ago, you
> will have $0.00 today.
> But, if you had purchased $1,000 worth of beer one year ago, drank all the
> beer, then turned in the aluminum cans for recycling refund, you will have
> received $214.00.
> Based on the above, the best current investment plan is to drink heavily &
> recycle. It is called the 401-Keg.
> A recent study found that the average Australian walks about 900 miles a
> year.
> Another study found that Australians drink, on average, 22 gallons of
> alcohol a year.
> That means that, on average, Australians get about 41 miles to the gallon!
>
> *Makes you proud to be an Australian!** *
>
>
>
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