Announcement
Collapse
No announcement yet.
Sir Bob Jones - 'Saving is for fools'
Collapse
X
-
I just saw this
One can not fault Bob Jones on his money making ability. His article cetainly made me think. However I think as this ratings warning indicates its all a matter of balance. I am sure Biob Jones uses borrowing to fund his business's from time to time that money has to come from somewhere....Shares, retirement funds, Insurance company investments and the such like. Saving isn't just a matter of sticking money in the bank it can involve: buying a home, investing ( as opposed to speculating) in the share market, Buying bonds and so on. I am sure BOb jones would have no problems with people saving by means other than bank accounts, otherwise he would not be where he is today!!!!The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.
Comment
-
Wheeler is new to the role and Bob was letting him know he needed to focus on doing his job rather than tell people what to do with their money. And Bob's right - for the majority of NZrs struggling from day today they would be better off investing it in housing and making their money work harder for them.
Cheers,
DonnaEmail Sign Up - New Discussions, Monthly Newsletter, About PropertyTalk
BusinessBlogs - the best business articles are found here
Comment
-
Apart from the all-important pleasure they will deprive, history shows that on
the financial front they'll come out way ahead of Wheeler's savers. It's been
a winning formula for decades because it's logical and proven. Attacking it
defies comprehension.
Give me a competent proof reader, any day)
Comment
-
All this pseudo pious hand-wringing over property is all-the-more farcical because
the cranially challenged who keep chanting the mantra never seem to consider
(either via epiphany, or after being told) that it is the very policies of the mantra-
chanters which cause the 'love of property.'
Comment
-
Originally posted by http://www.rbnz.govt.nzMr Wheeler was employed at the World Bank from 1997 until 2010. During this time, his roles included managing director operations (2006-2010), and vice-president and treasurer (2001-2006).
In his role as Managing Director, Mr Wheeler led the World Bank’s interactions with the IMF on the Global Financial Crisis, and represented the World Bank at the G8, G20, Development Committee, International Monetary and Financial Committee, and Financial Stability Forum.
During his time with the World Bank, he was also awarded the World Bank Staff Association Good Manager Award for his leadership.
Previously, Mr Wheeler worked at the New Zealand Treasury as deputy secretary and treasurer of the Debt Management Office (1993-1997).
He also ran his own advisory business in the United States from 2010.DFTBA
Comment
-
Originally posted by McDuck View PostI think I’ll take Mr Wheelers international banking experience over
Sir Bob’s on this one.
Sir Bob would do well in taking his own advice as far as “minding
his own” on matters that don’t concern him.
Originally posted by Perry View PostLike just what, specifically? Without some detail,
that comment is just so much hollow rhetoric.
their advice was worth following, then said advisors would also be fol-
lowing it and be sufficiently wealthy as a consequence, so as to not
need the day job they're in, from which they dispense the advice that
Sir Bob makes plain he considers not worth believing.
And Mr Wheeler's tenure at the World Bank, Treasury and in his advisory
business equipped him well to foresee the GFC that his experience told
him was coming and to therefore immediately implement measures to
forestall it occurring.
Yeah, right.
Here's a few ideas worth reflecting upon.
1) Do you suppose Sir Bob's personal fortune was amassed by saving?
2) Does Mr Wheeler have a wealth profile comparable with Sir Bob?
3) If so, did Mr Wheeler amass that by savings, as he advocates
....others should do? Or is it a matter of do as I say, not as I do?
After all, Mr Wheeler is probably 'expected' to say certain things.
Meanwhile, down at the Wheeler McDuck savings-filled money bin . . .
Comment
Comment