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In the news

Every week our Chairman and CEO Warren Couillault shares his personal opinion on BusinessDesk, see the latest articles below.

Nov 06 2023
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Investors need ‘a healthy dose of stoicism’ in times like these

By | In the news
It’s that time of the year again where we are all getting ready for Christmas, and for us here up north hoping summer eventually comes, putting the RWC behind us,...
It’s that time of the year again where we are all getting ready for Christmas, and for us here up north hoping summer eventually comes, putting the RWC behind us, crossing our collective fingers on the CWC, sending tax details to accountants, and wondering how our investments have fared so far for the year.  The year of 2023 has been a year of oddities and risks (weren’t 2020, 2021 and 2022 as well?) The New Zealand General Elections are now thankfully behind us (albeit at the time of writing, we’re awaiting the shape of our new Government), we have seen... Read more
Oct 30 2023
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It’s time to make KiwiSavers fly and other dreams

By | In the news
I was as excited as anyone to see the initial results from last week’s general Election – and I don’t think the specials will see much change – the strong...
I was as excited as anyone to see the initial results from last week’s general Election – and I don’t think the specials will see much change - the strong showing for National and Act shows the desire for a new path and an electorate that does not like the direction which New Zealand was heading. Now it’s down to the hard work of delivering change that was talked about so readily on the campaign trail. We want change in the financial services industry (or at least the areas in which I am involved) or put another way we want... Read more
Oct 24 2023
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Heavy-hitters share their predictions for the world economy

By | In the news
Time flies when one is having fun and even more so when share markets are moving! Nearly a week has flown by since the New Zealand voting public turned so...
Time flies when one is having fun and even more so when share markets are moving! Nearly a week has flown by since the New Zealand voting public turned so abruptly to the right (some might say turning away from the left…).  We’ll see the final extent of the turn over the next couple of weeks, but a turn it was. In fact to me, it feels as if the whole year has flown by and I was reminded of this as my calendar flashed-up for a big, annual financial conference in Sydney.  Once again, global investment bank and financial... Read more
Oct 16 2023
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Have we learnt nothing from Black Monday?

By | In the news
As tempting as it is, we are not allowed to write about anything to do with the weekends General Election as it risks breaching the Electoral Act – so best...
As tempting as it is, we are not allowed to write about anything to do with the weekends General Election as it risks breaching the Electoral Act – so best not to.  And as historic as this election may be – and I believe it is pivotal for New Zealand – there’s another historic moment in time coming up next week:  Black Monday being the global stock market crash of October 1987. Stock markets around the world were giddy in the years headed in to late 1987 primarily fuelled by speculation and huge FOMO.  BBQ conversation centred on the next... Read more
Oct 09 2023
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How the election result will affect your pocket

By | In the news
I’ve just had a reminder from Pattrick Smellie that it’s a breach of the Electoral Act to run political coverage/commentary on polling day, Saturday Oct 14, so I have brought...
I’ve just had a reminder from Pattrick Smellie that it’s a breach of the Electoral Act to run political coverage/commentary on polling day, Saturday Oct 14, so I have brought forward next week’s column so as not to run foul of the law.  Always a good strategy… Well it’s been one heck of a year so far:  Inflation came back in 2022 and doesn’t really look like easing in any material way, in spite of some slowing in the rate of price increases (i.e. not going back to previous levels but increasing further) it’s still at 30 or 40 year... Read more
Oct 02 2023
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Costco and the power of cheap thrills

By | In the news
Last week I saw that Costco celebrated its one-year anniversary in New Zealand, with its first huge store out in West Auckland.  And what a year it has had.  Apparently...
Last week I saw that Costco celebrated its one-year anniversary in New Zealand, with its first huge store out in West Auckland.  And what a year it has had.  Apparently 150,000 members have signed-up, shopping up a storm and experiencing the benefit of bulk-buying on a scale not previously seen in this country. For those readers who don’t know, Costco is a bulk retailer that makes its money from a membership model allowing it to sell items at prices that we are led to believe are not too far above cost.  Not only has this model been successfully employed by... Read more
Sep 26 2023
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Peter Beck and why it’s hard to get a startup off the ground

By | In the news
A couple of days ago, Rocket Lab suffered the failure of its 41st mission and the loss of the Earth-observation satellite its Electron rocket was carrying to orbit for its...
A couple of days ago, Rocket Lab suffered the failure of its 41st mission and the loss of the Earth-observation satellite its Electron rocket was carrying to orbit for its client, Capella Space.  Its share price immediately fell around 7% in late trading on the US’s NASDAQ market.  NZ Herald reporter, Chris Keall, posted on X (formerly Twitter) that “the stakes are about to get a lot higher. Rocket Lab charges around US$7.5 million for an Electron launch.  Its much larger Neutron, on track for its first launch next year, will cost US$50 million to US$55 million per launch -... Read more
Sep 20 2023
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Someone needs to turbocharge the KiwiSaver scheme

By | In the news
Over the past few months, I have been quietly hoping for the politicians – certainly as they get into election campaign mode – to start talking about how we can...
Over the past few months, I have been quietly hoping for the politicians – certainly as they get into election campaign mode - to start talking about how we can improve and help KiwiSaver reach its full potential.  The strongest version of KiwiSaver was introduced in 2006 by Sir Michael Cullen.  Not a single politician has talked about strengthening KiwiSaver since, instead the various proposals from politicians seem adamant on removing it from its purpose of helping fund New Zealand’s retiring population. The Key / English National government made the most significant changes to the scheme early in its tenure. ... Read more
Sep 12 2023
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Australian sharemarket bounces back, despite challenges

By | In the news
Hopefully you will recall my column last week in which I wrote about New Zealand’s rather underwhelming local earnings season: so much so that, as of yesterday, the gains for...
Hopefully you will recall my column last week in which I wrote about New Zealand’s rather underwhelming local earnings season: so much so that, as of yesterday, the gains for this year on the New Zealand bourse, as represented by the NZ50 Gross Index, have been completely wiped out. This week I’m going to go across the ditch and see whether they’ve done any better in the Lucky country. Sadly, it doesn’t justify a shopping trip to Toorak Road or even better a dinner at Mimi’s out at Coogee Beach, rather it will be the view from 20,000 feet. Reporting... Read more
Sep 04 2023
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Stand by: earnings season good news might not last

By | In the news
And they are off! The half-yearly earnings reporting season for New Zealand’s listed companies kicked-off on Thursday 10 August with the first horse out the gate being Vital Healthcare Property...
And they are off! The half-yearly earnings reporting season for New Zealand’s listed companies kicked-off on Thursday 10 August with the first horse out the gate being Vital Healthcare Property Trust.  Vital, a specialist owner of healthcare property, announced a seemingly healthy 18% lift in net property income for F23, 99% occupancy in its properties, a weighted average lease term of 17 years, $255mn of divestments and one and half tonnes of CO2e of greenhouse gas reductions.  Looks OK to me…  One would have thought that such a good result would be a sign of a positive earnings season and... Read more