I haven't been blogging much lately -- DS1 was in and out of hospital three times in the past two months, and I've also had to take time off work due to illness (first for a bout of 'flu that lingered on for months and developed into bronchitis/sinusitis, and then for a leg infection that required a couple of weeks in bed/on the sofa and getting IV antibiotics twice a day).
All that put me way behind with my Master of Astronomy coursework, so I'm currently flat out catching up with assignments and lab reports before the end of semester. I somehow doubt that I'll be getting an HD for this subject either ;(
Nothing much to blog about - except maybe the cost of medicines and doctors visits...
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Thursday, 21 October 2010
Thursday, 7 October 2010
Stagging QR National float
I was wondering why QR National began a TV advertising blitz last month - lots of long, long goods trains shipping mountains of coal around the place. All became clear why the share float/privatisation was announced - the Queensland government is selling off this public asset.
The prospectus won't be issued until next weekend, but from the amount of interest and pre-registration for share allocations it appears that the float will be a "success". And, as it is the Queensland government selling the shares, with Queensland residents getting a higher guaranteed allotment of shares than other Australian residents, I expect the issue price will be set slightly low for political reasons (don't sell voters shares that immediately drop in price!). So, I've pre-registered for a prospectus and guaranteed allotment, although if there is too much interest there is likely to be a scale-back, which reduces the scope for significant stag profits. Once the prospectus is released I'll look into details such as the loyalty bonus and maximum issue price and make a final decision on whether or not to invest in QR National.
With the resources boom likely to continue for a decade or more, a freight rail investment may be worth holding long term - especially if the privatised company makes significant cost savings post-float.
Subscribe to Enough Wealth. Copyright 2006-2010
The prospectus won't be issued until next weekend, but from the amount of interest and pre-registration for share allocations it appears that the float will be a "success". And, as it is the Queensland government selling the shares, with Queensland residents getting a higher guaranteed allotment of shares than other Australian residents, I expect the issue price will be set slightly low for political reasons (don't sell voters shares that immediately drop in price!). So, I've pre-registered for a prospectus and guaranteed allotment, although if there is too much interest there is likely to be a scale-back, which reduces the scope for significant stag profits. Once the prospectus is released I'll look into details such as the loyalty bonus and maximum issue price and make a final decision on whether or not to invest in QR National.
With the resources boom likely to continue for a decade or more, a freight rail investment may be worth holding long term - especially if the privatised company makes significant cost savings post-float.
Subscribe to Enough Wealth. Copyright 2006-2010
Tuesday, 5 October 2010
Recipe for contentment
The SMH reported briefly on a study on happiness published by Professor Headey in the journal Proceedings of the National Academy of Sciences. After tracking the happiness of 60,000 Germans for 25 years he found that over the long-term, happiness was variable, and depended on the life goals and choices of the individual, rather than being largely decided by personality traits moulded early in life and genetic factors.
In summary, the keys to happiness are:
1. Have a happy partner
2. Don't be overworked or under worked
3. Prioritise family and community, and have a partner who does so as well
4. Don't be materialistic
5. Don't be obese
I think that #1 is a bit rough on unhappy people - if we all tried to find a "happy" partner, the unhappy would end up even sadder and more lonely. #2 makes sense, although I suspect that being "under worked" would only be a problem due to lack of income, unless you had no interests or hobbies outside of work! I think the importance of #3 will depend a lot on whether or not you are an extrovert or introvert, and how social and emotional you are. And the benefits of community service to ones happiness will depend on how much satisfaction you get from helping others - if it gives you a sense of worth and "goodness", then doing volunteer work will add to your happiness and can be increased as much as you want for little financial cost.
#4 will help most people increase their happiness simply because most people will find it hard to earn enough to satisfy a seriously materialistic lifestyle without affecting items 1-3 above.
#5 is easier said than done (from personal experience), but I've no doubt that maintaining a healthy weight improves your happiness (if for no other reason than the deleterious health effects that being obese will eventually produce).
What other items do you think should be in a "top 10" list of the keys to happiness?
Subscribe to Enough Wealth. Copyright 2006-2010
In summary, the keys to happiness are:
1. Have a happy partner
2. Don't be overworked or under worked
3. Prioritise family and community, and have a partner who does so as well
4. Don't be materialistic
5. Don't be obese
I think that #1 is a bit rough on unhappy people - if we all tried to find a "happy" partner, the unhappy would end up even sadder and more lonely. #2 makes sense, although I suspect that being "under worked" would only be a problem due to lack of income, unless you had no interests or hobbies outside of work! I think the importance of #3 will depend a lot on whether or not you are an extrovert or introvert, and how social and emotional you are. And the benefits of community service to ones happiness will depend on how much satisfaction you get from helping others - if it gives you a sense of worth and "goodness", then doing volunteer work will add to your happiness and can be increased as much as you want for little financial cost.
#4 will help most people increase their happiness simply because most people will find it hard to earn enough to satisfy a seriously materialistic lifestyle without affecting items 1-3 above.
#5 is easier said than done (from personal experience), but I've no doubt that maintaining a healthy weight improves your happiness (if for no other reason than the deleterious health effects that being obese will eventually produce).
What other items do you think should be in a "top 10" list of the keys to happiness?
Subscribe to Enough Wealth. Copyright 2006-2010
Sunday, 3 October 2010
Net Worth Update: September 2010
The stock market gains during August were largley offset by one of our property valuations declining considerably, but the latest average sales figures show more typical prices that will cause a rebound in our property valuation for next month's NW figure.
I've had a serious health problem recur twice in the past couple of months, which has led to brief discussions with DW about what we would do if I could no longer work. Fortunately selling off the rental property (at current prices) would allow us to clear our mortgage, and selling my liquid stock investments would clear most of the margin loan debt - a bit would probably have to wait until the "capital guaranteed" hedge fund investments reach maturity date in a few years time.
Accumulated leave entitlements and savings would see us through the two year waiting period of my loss of income insurance, which would then provide 75% of my current income until age 65 if I could no longer work. Without a mortgage that should be sufficient to live off and keep saving for "retirement age". Although if I can't clear up this health problem I probably don't need to plan for my retirement savings to last until age 90+!
* the Stocks figure is portfolio value - margin loans. As my portfolio value (and margin loan debt) is around $500,000 relatively small movements in the stock market produce huge percentage swings in the net value of my stock portfolio each month.
Net Worth is tracked in AUD terms, so the recent strength in the Aussie dollar would show our current NW in USD terms is close to our all time high, rather than still being some 30% off our previous AUD peak in 2007.
Subscribe to Enough Wealth. Copyright 2006-2010
I've had a serious health problem recur twice in the past couple of months, which has led to brief discussions with DW about what we would do if I could no longer work. Fortunately selling off the rental property (at current prices) would allow us to clear our mortgage, and selling my liquid stock investments would clear most of the margin loan debt - a bit would probably have to wait until the "capital guaranteed" hedge fund investments reach maturity date in a few years time.
Accumulated leave entitlements and savings would see us through the two year waiting period of my loss of income insurance, which would then provide 75% of my current income until age 65 if I could no longer work. Without a mortgage that should be sufficient to live off and keep saving for "retirement age". Although if I can't clear up this health problem I probably don't need to plan for my retirement savings to last until age 90+!
Assets___________$ Amount______$ Diff_____% Diff Stocks_*__________$20,283_____$11,953______n/a % Retirement_______$340,081______$9,587_____2.90 % Properties_______$904,387____-$15,484____-1.68 % Debts____________$ Amount_____$ Diff_____% Diff Home Mortgage(s)_$363,956________-$62____-0.02 % Net Worth________$900,795______$6,188_____0.69 %
* the Stocks figure is portfolio value - margin loans. As my portfolio value (and margin loan debt) is around $500,000 relatively small movements in the stock market produce huge percentage swings in the net value of my stock portfolio each month.
Net Worth is tracked in AUD terms, so the recent strength in the Aussie dollar would show our current NW in USD terms is close to our all time high, rather than still being some 30% off our previous AUD peak in 2007.
Subscribe to Enough Wealth. Copyright 2006-2010
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