gold, page-1158

Hi Biggle’s and all,

I notice you have picked up another follower there, seems to be having a few jealousy issues though I don’t recall claiming to own the largest private company in Australia. Truth is we are down to one third of our pre GFC work force these days and business is a great deal more difficult in the current climate. Most of the business people I talk to these days say much the same thing.

I had dinner with a solicitor mate last night and even he says things are slowing down in his business; however, I like his approach. He owns his home and business premises so has no big bills to meet he arranges his clients to suit his timing and takes two afternoons a week off to play golf as he says there’s no point in stressing about the situation.

You are right I do enjoy a laugh and I had one at you complaining about me going on about RSG you of all people complaining of someone banging on endlessly on the same subject! Still it’s great not to have to take things too seriously.

Talking of such Peter told me of a member of his gold club that turned up for a club dinner function with his beautiful 20 years his junior new Thai bride on his arm apparently she was the envy of many of the club members. Peter bumped into the guy recently after a couple of years gap and enquired after his lovely wife and was told she had passed away; always an awkward moment. Once he recovered he ventured how she had died and was told cancer, what type he asked, prostate cancer came the reply!

I am pleased you have done well with your real estate investments over the years many baby boomers have also done likewise. It was really just a matter of being in the right place at the right time for many. My first home purchase was in the UK around 1974-5 and at that time it cost around 2.5 times my annual salary. Two years working in the UAE and I owned it outright not bad going as I was yet to have my 26^th birthday. However; the trouble and strife wanted a bigger home so it was back on the mortgage merry go round and 21% interest rates in 1981.

The area I am torn a little on real estate is yes people our age have done very well; however, it’s the current new generations of young families that are being pushed out of the market. We hear cries here mainly from the older group that ending negative gearing will cause a house price collapse much like GST will put an end to the restaurant business. If negative gearing ends and housing becomes more affordable is that going to become such a bad thing.

You like real estate and I happen to like physical Gold and Gold producers and explorers and there is no reason we can’t just agree to disagree. The big difference I see is I just don’t feel the need to denigrate others for what they invest their money into. Good quality arable land and desirable residential properties are great investments some may even say as good as Gold.

One thing I will say about you is at least you are consistent and when proven wrong you have the decency to man up and apologise so I tip my hat to you because there are not so many honourable gentlemen around these days.

The last thing I want to see is people losing their homes and jobs in any type of finical shake up; I just keep getting this feeling that things are looking very similar to how they looked back in 2007-8.

Until and hopefully beyond then I will continue enjoying my time as best I can and suggest others try and do likewise as life is far too short and precious. I can’t wait to get back on the river with the smell of heather in my nostrils and decent single malt in the hip flask.

Cheers and very best regards: Andy