Monday, November 25, 2013

Share Picks for 2014

I will be doing a Share Investor stock picks for 2014.

They have proven to be the most popular thing on this site by far, and I don't want to disappoint.

Get your brain engaged and your wallets ready....

Thanks SB for putting the right link up, here it is 

Friday, November 22, 2013

Richard Hurley from Auckland City Brokers

Remember this name, Richard Hurley, Managing Director of Auckland City Brokers and on the recommended advisor's page on the Good Returns website Richard is described as having:

"18 years of experience in the Finance and Investment industry and has lived in Mt Eden for 25 years. Your satisfaction is guaranteed".

And his company Auckland City Brokers is there to:

"To protect our reputation and your peace of mind, we deal only in quality products.

We aim to implement strategies that will build your wealth and produce income streams in retirement".

All good inspiring, bodice ripping stuff but lets see how this stacks up.

Richard advised one of my elderly retired clients to invest a large sum of money into various ING funds that went belly up last year - he got an upfront fee for selling it to this person.

He advised on the basis that the investment was safe and low risk. This is not the case at all. That fact is that some of these funds were investing in derivatives in the United States, some of the riskiest investments (more like a roulette wheel) that one can make.

My client was assured by Richard that the investment was very safe.

Two days before ING announced a freeze of the funds this individual asked Richard to redeem the investment because of its dropping value but Richard laughed at this request and told his client not to worry because investments changed in value all the time - said said he was speaking to her like she was a fool.

Richard has refused to take responsibility for his selling of ING products to this person on the basis that it was low risk and turned out to be high risk and has left his former client in the lurch in terms of her getting all her money back.

We can imagine the rest.

There was much heartbreak, stress and tears over the following months and in the recounting of the facts today my client was close to tears a number of times.

Fast forward to the offer from ANZ/ING to investors in their failed funds of a 60% return of their capital into a cash call account at just over 8% but with a legal stipulation that those that accept the offer will not sue ANZ/ING or can you believe it anyone who advised people to invest in the fund.

You would have to ask yourself why is ANZ/ING protecting advisers, when they are not part of their corporation. The answer you might get, like me, is that advisers might know more than the public does about dodgy dealings in relation to what went on at ING/ANZ and a legal way of shutting the whole thing down is the best way to keep a lid on things.

I didn't sign anything so I aint obliged to shut my gob.

My client accepted the ING/ANZ offer because the individual is getting on in life and hasn't got the energy to waste precious time and money going through a long expensive legal process that might not be winnable. Life is too short and all that stuff.

Financial Advisers (and I use that term in its loosest sense) like Richard are going to get away with their misleading advice because people like my confidant are either afraid, ashamed or legally obligated not to talk about it and that is a crime, morally and legally.

Richard Hurley from Auckland City Brokers and his ilk have advised and made money off the elderly under false pretenses in cases like the one above. They have lost nothing, others have lost everything they have worked their lives for and now live with a high degree of uncertainty in retirement.

Mr Hurley you have fallen well short of being a good financial adviser.

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Monday, November 4, 2013

Len Doest Care

Len Brown. Photo / Brett Phibbs
By Matthew Theunissen Email Matthew

Mr Brown, that's what well call him here has no time for those in the media who wish to pursue him for his head.

But that is what we want, his head on a plate.
11:00 AM Wednesday Oct 30, 2013
Len Brown. Photo / Brett Phibbs
Len Brown says the career of a mayor ebbs and flows, and the wave of negative publicity that has swamped him since news of his two-year extra-marital affair broke will pass.

"I'm just wanting to get on with my job," he said.

"I choose to put those matters where they belong and that's between myself, my wife and our family. Aucklanders have basically said 'that's something you need to deal with'. They want me to lead and that's what I'm going to do."

In one of his few public appearances since it was revealed he had a two-year affair with aspiring politician Bevan Chuang, the Auckland mayor this morning drew the pools for the upcoming NRL Nines tournament taking place in the city in February.

The usually vivacious mayor appeared subdued as he mingled with the crowd, and spoke with special guests including rugby league star Willie Mason and Sir Peter Leitch.

Speaking to APNZ afterwards, Mr Brown would reveal little about the effect the scandal has had on his political career, but implied such things were par for the course in his line of work.

However, he said this had not been directed at him as a result of the sex scandal but because of Housing New Zealand tenant evictions in Glen Innes and Panmure.

"Otherwise it was a great night." 

Mr Brown would not comment on who may have been responsible for revealing the sex scandal, or revelations Rodney National MP Mark Mitchell had made comments about politicians "with skeletons in their closets" that could have led the mayor's camp to believe the affair would be made public.

"I don't want to go into that either. I want to leave that where it should lie. And clearly, after two weeks of intense media coverage Aucklanders are saying it's time for us to move on."

Mr Brown said he was "not interested" in whether support for him as mayor had been impacted by the scandal.

"I'm not interested in that either. What Aucklanders said in the election was 'look, we like the general direction, you're doing a good job, keep it up'. That's what I'm going to continue to do."

Mr Brown said he had not been in contact with Ms Chuang since their affair was revealed.

Not interested in the publics view of him, that's a far cry just two weeks ago during election time, that's all he was interested.

Sunday, November 3, 2013

Wrecking a Perfect Body

Bevan Chuang Reveals all on 2 Year Len Brown Affair

Len Brown and Bevan Chuang.

Rodney Hide NZ Herald 3 Nov

Bevan Chuang reveals all tonight at & 7.00pm on TV One.

Len Brown is a busted flush. It may not be right. It may not be fair. But it's the truth.

Three weeks ago, I wrote Len Brown was good for Auckland. That's no longer true.

Len Brown can no longer provide the leadership that Auckland needs. His leadership has been busted by scandal. Sure, he can wear the mayoral chains, sit in the chair, and be called Your Worship, but he can't lead. Not any more.

Len is neither a king nor a sultan. He's an elected representative. He has only the authority that we grant him. And these days we don't grant that authority once every three years. The necessary trust and respect must be earned every day.

Len Brown has lost that. Mention his name anywhere in the country and it's greeted with a snort and a snigger. And a quip.

It isn't the affair that's busted him. He did a great job as mayor, all the while conducting his clandestine relationship. He got things done, was respected and was re-elected.

What busted him was his affair being made public. And in such detail.

A dignitary in his office now feels awkward sitting on his couch. Officials can't help but think about what he's been up to. Visitors want to see the Ngati Whatua room. Foreign guests Google his name and get the eye-watering detail.

I have been the centre of a media storm. The rights and wrongs don't matter. The storm is the problem. You spend days dealing with the storm. That prevents you getting on with the job. That's the place Len Brown has been since his re-election. He is missing in action.

And then it dies down but you notice you don't carry the same political oomph and kapow. The storm has diminished but so, too, has your political influence. Your judgment is left suspect and your suggestions and recommendations lack authority.

Len Brown is not the first politician to have an affair. He won't be the last. But he's the first to have it splattered through the news in such gory detail.

When Len Brown is telling Prime Minister John Key what Auckland needs, the Prime Minister and his colleagues can't help but put a big question mark over Len Brown's advice.

His political judgment is now suspect. He won't have any push or pull. And there you have it in a nutshell. A busted flush.

We need a mayor who can move through the city and country beating the drum for Auckland. That requires a demonstrated judgment that we can respect.

That with Len, sadly for him and for Auckland, went down oh so publicly with his trousers.

It is all revealed in splendid Technicolor and perfect stereo...disgusting.

Post like yourve never posted before

Ive decided to start this blog up again, it was almost a hit, so stick with me and well get along very nicely while shaking up the big boys a bit, nothing like certain death to gets ones inner self out...