The rules of Mr Buffet can easily be applied to most areas of peoples professions, not just investing, and if you do spend the time to study the Australian sharemarket, you will find quite a few nuggets, so far my super fund has returned just over 35% for the past 2 yrs, and that with just 2 purchases, AMP and SGB, amp bought as they sold off the loss making UK divisions, the core business in Oz was unchanged and finacially sound, and SGB during the NAB selloff, again same rules, SGB's business is cnsistantly growing and totally unnaffected by the NAB selloff- except share price.. as they say, you make money when you buy, not sell.
as for Buffets rules in other areas, my business is in Transport, a vital industry for any country in any political or economic climate, and again within that, specialising in the Music industry, which has its ups and downs, but over a small range depending on economic climate, people will always be listening to the radio, and buying music weather in boom times or recession..
Sadly i feel the the govt of the time is a reflection of the communities fears and ideas, Yes, the Liberal government Used to be for less govt control, but with society forever giving up its responibilty, thereby forcing in a sence, the govt to take over that responibility, the explosion of litigation is direct proof of that, and hence, rules are changed and laws written to prevent thurther acts of stupidity and people refusing to take responibility for their own actions within the society! as far as im concerned, no matter what govt is in power, this will not change, untill the community does.
as for the communist State Govt, this is directly related to me being forced to pay ever increasing Land taxes, at a rate of land value that is grossly overestimated, by the govt, to pay for the tax breaks of the first home buyer!
and bob carr directly interviening in what should essentially be a free market, with land tax and vendor duty, so that the low income/first home buyer can afford to enter the artificially deflated property market!
...... and screw the people that have worked their arse off to invest in their future, their retirement, and their families future... Bob Carr better prey i never meet him in public!
as for low taxes, a good accountant is worth his weight in gold! pay yourself the minimum required to stay just below the tax free threshold, approx $12k Pa. A company has the advantages of buying with pre tax dollars, and only pays the tax at 1 time of the fin year, except GST credit. at approaching end of fin year, the company goes shopping to lower its taxable profit, bigger newer truck/s, newer more prestige company car/s, in some case, an increase in staff wages, bigger super contributions, bigger property investment, etc etc
never skimp on paying a good accountant!
Last edited by Ultralights; 5th Jul 2005 at 10:04.