Big Financial News coming out tomorrow

[Kurt Angle]

Sounds like the Greenwood hasn't changed, it's a bit of a "Portmans" bag (where the girls go to pick up a suit). The Establishment is on George St in the city and is another place frequented by people who work in the financial district who think that they have class (as opposed to those who actually do, who wouldn't be seen dead there)

Where abouts in George St.

Up the noerthern end, say snear jacksons ?

The middle, says around Wynyard station?

Southern end near Ace Bar ?

 

[SpaceMonkey]

Where abouts in George St.

Up the noerthern end, say snear jacksons ?

The middle, says around Wynyard station?

Southern end near Ace Bar ?

Near the middle, just a little north of Wynyard.

 

[SpaceMonkey]

nothing worse than a drunken smartarse in a suit on Friday night.

The ones who crack me up are the 22 year old graduates in cheap suits who assume they're better than me because they're dressed up like penguins when in reality I'm the lucky one who gets to work for a company with a casual dress code (even our GM usually comes to work in jeans and a polo).

 

[legend]

The Establishment is directly across the road from NAB House, where I work. Still haven't been there since I started with NAB though. ;-)

I prefer Customs House down at the Quay.

 

[SpaceMonkey]

The Establishment is directly across the road from NAB House, where I work. Still haven't been there since I started with NAB though. ;-)

I prefer Customs House down at the Quay.

Probably a better choice... wrong end of town for me though, my office is near Town Hall so we usually end up at the Arthouse on Pitt St. A bit wanky but the scenery is great ;-)

 

[JoeD]

If there is one lesson Moffo can teach all of us from this thread is: When you're in a hole stop digging.

 

[Kurt Angle]

Sounds like the Greenwood hasn't changed, it's a bit of a "Portmans" bag (where the girls go to pick up a suit).

The Greenwood was one of those pubs that could actually have a scene return.

Most pubs went like this, especially around 97-99 in the IT boom.

The loaded suits celebrate, cuz they got cash to flash.

The glamours come in seeking the suits with lots of cash.

The next tier of suits come in ,hoping for reflected glory ( I was one of them )

A wave of 7/10 chicks come in, cuz it's all happening

The Mediterranean Descendants come in, 30 guys at a time.

Everyone else leaves.

Mediterranean Descendants leave cuz the place is dead.

Greenwood was different because after the Mediterranean Descendants left, the rich suits came back. Usually once Mediterranean Descendants arrived, it was a kiss of death for any bar.

 

[Moffo]

In Kurt's absence, yes

Risk has a specific context in finance. It is not just the chance of losing money. It refers to the probability that your return will differ from your projection

In your example, if the return was 6% the overall risk would have been less because you were only out by 1%, not 2%

Fund managers go all the way into attribution analysis, but trust me, you really don't want to know about that sh*t...

so risk is correlated to return? hmm ok then thanks jimbo maybe i'll learn something off you

 

[SpaceMonkey]

The Greenwood was one of those pubs that could actually have a scene return.

Most pubs went like this, especially around 97-99 in the IT boom.

The loaded suits celebrate, cuz they got cash to flash.

The glamours come in seeking the suits with lots of cash.

The next tier of suits come in ,hoping for reflected glory ( I was one of them )

A wave of 7/10 chicks come in, cuz it's all happening

The Mediterranean Descendants come in, 30 guys at a time.

Everyone else leaves.

Mediterranean Descendants leave cuz the place is dead.

Greenwood was different because after the Mediterranean Descendants left, the rich suits came back. Usually once Mediterranean Descendants arrived, it was a kiss of death for any bar.

It's not just a Mediterranean Descendant thing, the same thing happens to any pub once big groups of guys come in chasing the poontang and throwing the gender balance out. I believe the standard term for the result is a "sausage fest". It does tend to be initiated by the Mediterranean Descendant crews more than most though as they often travel in packs without female company.

 

[Jimbo]

thanks jimbo maybe i'll learn something off you

You could learn quite a lot from me actually

Good to see you're finally starting to pull your head in

 

[Kurt Angle]

Kurt, after reading the entire post I do have one question for someone who obviously fancies themself as a finance "guru"

If you expect a 7% return and receive a 9% return, does that make this particular investment a risk ?

Yes it does because the investment has a variance (which is most likely unexpected, and possibly unexplained, otherwise it would of been priced in)

For example two investments have the following anuual cash flows/returns.

Investment A

$500, $1200, $1500, $1000, $800.

Total return = $5000
Average return = $1000 / period.

Investment B

$1000, $1000, $1000, $1000, $1000.

Total return = $5000
Average return = $1000 / period.

Then you could argue they have the same returns, they must be worth the same.

However investment A has the greater variance of returns. This variance indicates there is greater risk (with the assumption past performance has some indication of future performance)

Now if you had $10,000, you could invest in either invesment, and get $1,000 per year.. or 10%...

But people will be more inclined to buy asset B, because of the lack of variance, then you have something akin to Arbitrage Pricing Theory, which means people will bid higher and higher for investment B, believing the lack of variance is worth the sacrifice in ROI.

All of a sudden someone pays $20,000, the return becomes 5%.

 

[Mr Angry]

If there is one lesson Moffo can teach all of us from this thread is: When you're in a hole stop digging.

Did we ever actually get an announcement about something - anything?

Go hard Moffo

 

[Jimbo]

Did we ever actually get an announcement about something - anything?

Go hard Moffo

:lol: :crazy:

 

[JoeD]

Did we ever actually get an announcement about something - anything?

Go hard Moffo

Classic :lol:

 

[Moffo]

there's gold under where im digging so the joke is on you mr angry :lol:

 

[Jimbo]

there's gold under where im digging so the joke is on you mr angry :lol:

Let me know when you find some Moffo

I'll give you a whole twenty dollars per ounce...

 

[Moffo]

Let me know when you find some Moffo

I'll give you a whole twenty dollars per ounce...

only if there are hedging options available to diversify away my unsystematic risk from funds raised from this to pump into residential properties (through super money once i retire of course)

 

[Simo]

So to conclude there was no big news??

 

[Kurt Angle]

Commonwealth bank raised interest rates to match Westpac and NAB.

So now we know which bank Moffo works for.

 

[El Diablo]

or he works for Telstra