Peter Thornhill 2019

Peter T coming to Melbourne.
June 22nd.
For anyone that's interested and hasn't spotted it yet.
Public Speaking | Motivated Money


Thanks goes to @Gockie for letting us know about this one.

I'm excited

 

For those on the Gold Coast

Peter Thornhill speaking at an evening event 3rd June @ the Hilton Surfers Paradise. Dinner included.

Beyond the Noise: A no-nonsense assault on popular investment wisdom (GC)

 

Wow, it looks free as well!!! Would go if I could.

 

He just announced a Sydney all-day talk, too.

 

Just a quick email to let everyone know, that due to interest in Sydney for more sessions, I've added another date to the calendar at the Rydges in Camperdown on Sat 25th May.

If you are interested and want to grab a spot click on this link to get a ticket.
FULL DAY COURSE TICKETS

Look forward to catching up with you.

Regards......Peter Thornhill

 

Split personality @Terry_w ! We knew you were talented but this is a surprise!

 

Hi guys, does anyone have any information on PT courses planned for later this year?

 

There are events on 22nd and 23rd June in Melbourne.

Subscribe to this page and you'll get notified when new events are scheduled.

 

Some new research from the RBA suggests otherwise.





https://www.rba.gov.au/publications/rdp/2019/2019-04.html

 

Can I just confirm do you interpret that as similar return across sectors with different volatility between sectors?

( i appreciate the comparison is between financial, other, resources and not the industrials index per se)
Cheers,

 

Does anyone know when Peter will be speaking next in Melbourne? I just missed his June 22-23 dates ):

 

Yes. All pretty much have the same geometric (compound) total return. Resources are more volatile, so on a risk adjusted for volatility basis, (Sharpe ratio etc) you are not rewarded for the volatility. That in my view would mean that a concentrated portfolio of them wouldn’t be a good idea unless you have nuts of steel but in a broad portfolio, they should be a good diversifier.

Is excluding resources an investment outcome game changer? Possibly not but it’s not an insignificant risk either. A risk that in the future you may get rewarded for or you may not.

If somebody thinks excluding resources is a lay down misere for the future, they are ignoring a thorough read of history. However, if they are taking the tilt knowing it’s a doubled edged risk, that’s a perfectly fine prerogative.

I’m not to sure I have seen both sides of the risk spelt out in the Thornhill thread. Bit I haven’t read it all.

The RBA data set has split the industrials index which Thornhill refers too into financials and others. Considering all three categories have similar long-term total returns you can see from the first chart that the higher income from financials come with correspondingly lower long-term price appreciation. And lower income from resources comes with higher long-term price appreciation. Others (industrials minus financial) hold the middle ground (sweat spot maybe?). If there was a true industrials index/lic (without financials) it could be an interesting proposition.

 

Thornhill

Me

 

Sold my holdings of Index ETFs (NDQ, IOO, IVV, IJR) today. Decided that with the AUD way down and nice gains in these it's good to have some cash in my super.

Will go shopping to top up my cashflow holdings.

 

A mate of mine asked me about NDQ just the other day but I haven't got around to looking into it as yet. Were you happy with NDQ through your ownership? Any 'gremlins' to be aware of?

 

Yes. Was happy with it.

If ordering pre-market take into account overnight moves in Nasdaq and currency.

I successfully bought following the Feb 18 dip.

 

Chatting to a relative yesterday and it came up that she has been pushing her LIC dividends and savings into RARI. Apparently RARI is paying good dividends and part of it's investment philosophy is to include holdings that have good dividend growth history (aside from the "responsible" theme) which appeals to income focused investors. RARI holds 60+ holdings from the top ASX 200. She reckons it has a good PT feel about it and is not much more expensive than WHF in MER. She is 3 years away from early retirement. RARI will be part of her portfolio along with AFI, ARG, MLT, WHF and VAS. Thoughts?
(edit typo)

 

RARI has about 15% in Property Trusts which isn't PT's philosophy, but as has been discussed on here a few times, time to move with the modern times and include it.
Your relative already has all the old LIC's which is great plus VAS, so she already enough Australian diversification without adding RAFI.
Might be worth seeing what the annual holding turnover is. VHY has been quite bad in this way and which incurs CGT
Just my thoughts.

 

NDQ in a Thornhill thread.

Only had a brief look but it’s appears to be nothing remotely like having a “good PT feel” about it which includes the flow through of underlying company dividends and very low portfolio turnover. In the case of RARI high distributions likely means there’s a capital gains component. Make sure it’s in a low tax environment if feeling the urge to hold this one.

That said however if your friend is happy with RARI then that’s all that matters

 

Certainly does not tempt me personally, but thought it was interesting that a self--prclaimed PT-style investor deemed it a fit for her portfolio. Looking at just the holdings I can see why at first glance it looks like a reasonable fit, but certainly not 100% franked and no dividend smoothing.