Polson Higgs
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Recent Events & Possible Outcomes in Local & Global Financial Markets (15 May 2012)
The Global Economy- US recovery underway with improvement in jobs, consumer sentiment, housing and industrial activity
- US Federal Reserve signals low rates until 2014, to encourage growth
- UK enters double dip recession ahead of Olympics
- Greece reaches deal with creditors
- European Central Bank helps Europe refinance €529b in loans
- China GDP growth eased to 8.9% from 9.1%
- Australian Reserve Bank lowers interest rates by 0.50%, to combat high dollar and weaker than expected inflation
Since the beginning of 2012, the tentative global economic recovery has gathered pace. The U.S economy is improving, ahead of elections later this year. This is also being helped by assurances that interest rates will remain low – or effectively close to zero – until late 2014, which has given a boost to domestic U.S confidence.
Continue Reading >>What happened to one of the world's greatest market timers… (24th February 2012)
John Paulson is the multi-billionaire hedge fund manager and president of Paulson & Co.
He made one of the greatest calls of all time by short-selling subprime mortgages in 2007, earning him $3.5 billion.
As a result, he has developed guru, or cult-like, status.
With this fame has come new money, flowing in fast and furious into his funds and earning him a record $5 billion salary in 2010. Investors are only too willing to pour in their savings, expecting that his maverick predictions can earn them generous returns.
How could he get it wrong…he called the subprime meltdown?
Continue Reading >>What KiwiSaver Changes Mean To You (2nd May 2011)
The budget announcement in mid May contained four main changes to KiwiSaver. These are:
- From 1 April 2012: Employer contributions to KiwiSaver will no longer be exempt from Employer Superannuation Contributions Tax (ESCT). Instead, they will be taxed at an employee's marginal tax rate.
- For the year to 30 June 2012 and beyond: The Member Tax Credit rate will be halved from $1 to 50c for every $1 that members contribute. The maximum level of the Member Tax Credit will also be halved from $1,042.86 per annum to $521.43 per annum.
- From 1 April 2013: The minimum employee contribution rate will rise from 2% to 3%.
- From 1 April 2013: Compulsory employer contributions will also rise from 2% to 3%.
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Last updated: Friday, 24 February 2012 | 2:25:07 p.m.
