Storm

This article was originally published as 'Storm' in http://www.themorningbulletin.com.au/ on 10th August 2013. Image borrowed from www.couriermail.com.au

The dumbing down of education and the reliance on one's own feelings as a reasonable basis for decision making are topics previously addressed in the column.

It seems to me that we have moved from a situation where few were relatively tertiary educated, but educated to a high standard, to one where a shallower style of tertiary education is available to most everyone. And we have moved from a system of highly organised (definitely flawed and perhaps over-bearing) religion as a source of self-reflection to one where daring to question the crowd is deemed heretical. The popular default now is a reliance on feelings and bureaucracy.

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Feelings

This article was originally published as 'Feelings' in http://www.themorningbulletin.com.au/ on 15/6/2013.

CIPL's chairman is an expert regarding the Myers-Briggs Type Indicator, and my association with him has led to a heightened interest in aspects of psychological type. While Extroversion and Introversion are traits commonly discussed, it’s Thinking vs. Feeling that I want to explore here.

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Busy

This article was originally published as 'Busy' in http://www.themorningbulletin.com.au/ on 18/5/2013.

Being busy is good, and if you are a protestant being busier is (apparently) even better. But what is busy–good and what is just wheel-spin?

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Greetings from Sydney

This article was originally published as 'Greetings from Sydney' in http://www.themorningbulletin.com.au/ on 29 December 2012. Image taken from http://en.wikipedia.org/wiki/File:Luna_Park-Sydney-Australia.JPG

Greetings from Sydney, where I am staying with my three children on a dad-inspired visit, while Sandra takes a well earned break with her sister and mother in a much more relaxed and tropical location. This visit is reminiscent of trips my mother took me and my siblings on – to Brisbane.

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Livermore

This article was originally published as 'Livermore' in http://www.themorningbulletin.com.au/ on 1 December 2012.

Many will be elated at Kirsten Livermore’s decision to step down at the next election, but I’m not one of them.

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Ports

This article was originally published as 'Port' in http://www.themorningbulletin.com.au/ on 24 March 2012.Image borrowed from http://www.queensland-australia.com/gladstone-image-tour.html

If the benefits to the region from mining and LNG construction start to wane, what will drive growth? It won’t be tourism, education or exports, the high $A will see to that, and retail will be hit as the high income tradies and operators drift away. How will you feel when your house price drops by 30 per cent, and your kids can’t find jobs.

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Borghetti

This article was originally published as 'Borghetti' in http://www.themorningbulletin.com.au/ on 14 July 2012.

The frequency to Brisbane is excellent. The revamped cabins, and crew-wear are classy and the staff are on the look-out to make the time in the air memorable - for me it's about using that quiet time well. New planes, and routes are in the offing.

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Fast Train

This article was originally published as 'Fast Train' in http://www.themorningbulletin.com.au/ on 8 September 2012.

Many claim that the rail track between Rockhampton and Gladstone is at capacity. It is not - QR National’s own data shows that, and with most infrastructure already in place, the service could probably be run with a modest subsidy.

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Shoalwater Bay

This article was originally published as 'Shoalwater Bay' in http://www.themorningbulletin.com.au/ on 6 October 2012.

Last weekend, it all came back to me, with an impromptu trip to Shoalwater Bay. Stanage is a great place to relax, but this time we launched the boat, and motored south till we found a beautiful camping site. Passing countless turtles and whales, Sam kept track of our speed and distance on the handheld GPS, Lewis kept lookout and Alex looked after the dogs.

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Crazy

This article was originally published as 'Crazy' in http://www.themorningbulletin.com.au/ on 10 November 2012. Image taken from http://www.blackdoginstitute.org.au/aboutus/ourlogo.cfm

What is it about Mental Health that causes such a stigma? If we have a cold or the flu, we say that we feel crap and everyone sympathises. Same with cancer to which some people respond with a whole new amazingly positive persona. But when people are depressed or face some other mental illness, no-one says anything.

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Wacademia

This article was originally published as 'Wacademia' in The Morning Bulletin in July 2012

Flinders prided itself on was an interdisciplinary approach to learning streams. As part of my economics degree I studied statistics, demographics, politics, history and even had the opportunity to enrol in “death dying and bereavement” and other subjects in the medical school. More experienced, it’s almost uncomfortable to realise that I only now understand what they gave me back then.

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Assessing the value

This article was originally published as 'Assessment of Value' in The Morning Bulletinon 21 April 2012.

It strikes me as odd that people will happily fork out $38 for a carton of beer every week, but will balk at spending the same amount on upgrading their car. Or they will happily buy a can of coke each week, but persevere with a clapped out washing machine.

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The 'toilet tip'

This article was first published inThe Northern Daily Leader under the heading, 'The Toilet Tip' on the 18th of February 2012.

People often lump gambling and the stock market together, believing that the risks or chances of success in both are of equal magnitude. In fact researchers have found that there is a difference: gambling in casinos or on pokies means you will only ever lose in the long run, due to the nature of the odds against you. The stock market however, is more like the racetrack, where the more informed investor (or punter) can succeed at the expense of less well informed players. The message is that successful investing, like picking winners at the track, means talking to somebody who knows what they’re doing. It’s just that good investment advisers are hopefully easier to find than hanging around the toilets at the racetrack.

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A perfect 10

This article was first published inThe Northern Daily Leader under the heading, 'A perfect 10' published on 24 December 2011.

It’s a shame there isn’t a World Championship of Fainting, as I’m confident I could win gold for Australia. My most recent example, prompted by a stomach complaint, would certainly have come as close to perfection as Nadia Comaneci’s 10 out of 10 on the uneven bars at the 1976 Summer Olympics. It was a fairly spectacular effort, with all the hallmarks of a great faint – sweating, shivering, mumbling and kryptonite-like weakness.

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In a 'roundabout' way

This article was first published inThe Northern Daily Leader under the heading, 'The Robot Says Stop' published on 10 December 2011.

I was thinking about the different names for traffic lights as I was stuck on red at Tamworth’s newest set of traffic lights (at the intersection of Bridge Street and Belmore Street). As I waited for green, I wondered why we had swapped a perfectly good roundabout for a set of traffic lights.

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A boy and his toys

This article was first published inThe Northern Daily Leader under the heading, 'Ken and Barbie won't make you rich'?

It wasn’t until many years later that I finally figured out what I really should have been buying with my fifty pounds – shares in BHP Billiton. If I had the foresight to spend my fifty pounds on BHP shares each year, I would now be sitting on a tidy investment worth just over $23,000. A little deposit perhaps towards the fast red sports car that somebody wants for their fortieth birthday. I guess the toys never change, they just get bigger and more expensive.

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QANTAS An Airline Grounded

This article was first publihed in The Morning Bulletin dated 05th November 2011. Titled 'QANTAS'

Regardless of variants, Qantas’ domestic operations have always been the driver of Qantas’ profit and that history provides a sound basis against which to test the views of Alan Joyce. Consider now the very strong $A, high fuel prices and vastly increased international competition. Then add a rebranded Virgin, which is showing signs of having all of the quality of the old Ansett, without the inflexible work practices and cost base. Sound like an environment for unrestrained pay increases?

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Jackpot

This article was first published inThe Northern Daily Leader under the heading, 'Hi Mum I've won the lottery' on the 15th of October 2011.

Unfortunately, your real chances of winning the lottery are slim – winning Powerball is a 1 in 55 million long shot. However your odds of having to deal with a windfall of a different sort are quite high – every one of us has money in superannuation and many of us will need to decide what to do with our lifetime savings when we retire. While not quite on the same scale as a lottery win, you may still be required to decide what to do with hundreds of thousands of dollars.

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Music 'Embrace the change'

This article was originally published as 'Music Industry is embracing the change like never before' in The Morning Bulletin on 08th October, 2011.

Queensland is known for its resource and tourism industries, but if you were invited to attend conferences on financial planning and music, would you think of Brisbane as a natural location? And would you expect the financial or the musical people to have a better grip on their industry? Which would you think of as the most professional?

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What sort of car are you?

This article was first published inThe Northern Daily Leader under the heading, 'What sort of car are you'?

Early last year my wife and I experienced two momentous occasions: we found out we were having a baby and we had to buy a new car. Clearly the latter was brought about by the former, for as much as I argued otherwise, it was apparent that fitting a baby capsule to the ute’s passenger seat was not an option.

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Theories

This article was originally published as ‘Theories’ in The Morning Bulletin in September 2011.

The Chinese do know what they are doing. Once fragmented, four or five companies now control much of the commodity market, making prices much less volatile. High prices are not evoking the supply response of times past, and therefore prices are remaining “stronger for longer”. Such an outcome is consistent with microeconomic theory - big consumers will want to bypass the problem by owning the resources directly. Not keen on economics? Watch the movie “Dune”.

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National Disability Insurance Scheme

This article was first published in The Morning Bulletin under the heading Disability on 20 August 2011.

In the late 1960’s and early 1970’s Balmain basket weavers argued for the dismantling of institutionalised care for the disabled. If you don’t remember, rent out “One Flew over the Cuckoo’s Nest”. Once you have seen it, tell me what happens after McMurphy escapes the institution?

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Don't just do something, sit there

This article was first published inThe Northern Daily Leaderunder the heading, don't just do something, sit there.

Unsurprisingly, these are the sort of questions that scientists love to answer, and a 2007 study by a group of Israeli researchers found that when facing a penalty kick, goalkeepers have an ‘action bias’ – which means that they tend to dive left or right more frequently than was useful. The study showed that goalkeepers went left or the right 94% of the time – meaning they stay in the middle for only 6% of the kicks they faced. However, the penalty shot went straight at the middle of the goal 29% of the time, so it turns out that goalkeepers could increase their chances of saving the penalty kick simply by doing nothing.

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Shock Loss or Shocking Winners

This article was first published in The Northern Daily Leader under the title 'Take That' on 06 August 2011.

Psychologists found that most of us suffer from ‘confirmation bias’, which means that we tend to favour information that confirms our views, regardless of whether the information is true or not. Another discovery is the ‘house-money’ effect, which found that people tend to gamble more recklessly with money from a windfall (such as a profitable investment or a winning scratchie). It’s no surprise why casinos are happy to give you free chips when you join their loyalty club.

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Bubbles in Paris

This article was first published in The Northern Daily Leader under the title 'Bubbles in Paris' on 09 July 2011.

Too often we see ordinary Australians being duped by the modern-day equivalent of John Law and his exciting yet ultimately worthless investment opportunity. So whenever a ‘John Law’ comes your way, be a sceptic first and a believer second. The Mississippi Company wasn’t the first speculative bubble to collapse, and it certainly won’t be the last.

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Don't feel compelled to do things that make you uncomfortable

This article was first published in The Northern Daily Leader under the title 'Hello Brian' on 23 July 2011.

The ‘Do Not Call Register’ is a great idea – apparently signing up to the register means you won’t be troubled by pesky telemarketers, who have a knack for knowing when you have just sat down for dinner. Last week, while my wife and I were preoccupied with convincing our six month old son Jack, that liquidised pumpkin is a tasty food source, we were interrupted by a telephone call from ‘Brian’. In hindsight we should have just ignored the call, but we had been expecting a call from a family member.

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Flicking the switch

This article was first published in The Morning Bulletin under the heading Electricity dated 16 July 2011.

Electricity is the ultimate perishable good - It has to be used as it is produced. Coal fired power stations are at their most efficient when producing constant amounts for long periods of time. This is at odds with demand patterns, which fluctuate throughout the day, and in particular, with the weather. Industry says that power stations have to be built to meet peak demand, but coal fired power stations frequently lose money selling electricity in the off-peak, when demand is low. When demand is very high, wafer thin links between the states mean generators can’t even buy in from elsewhere, and in any event the wastage from transmission is high. Further, much distribution infrastructure is not set up to handle the two-way electricity flows necessary for a smart grid.

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The culture of fear

This article was first published in The Morning Bulletin Titled (The culture of fear) dated 04 March 2011.

Being gloomy has become fashionable. Once the fun police were the precious domain of the movie theatre (a special hello to Rockhampton Twin Cinema’s, Mr. Styles), but now they are everywhere. Driven by painful political correct ideology, they seek to impose their totalitarian views on the rest of us. Most of us already understand the need to respect each other, but the PC crowd employ their tools to subvert intelligent debate and stifle development.

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The Splendour of isolation

This article was first publihed in The Morning Bulletin dated 07th January 2011. Titled 'Splendid Isolation'

The plight of people badly affected, and the efforts of those involved in helping maintain the community deserves respect, but it’s pretty important that our community leaders speak frankly about the resilience and importance of the town. That includes not making misleading statements that 40 per cent of the city is underwater, or that we are isolated, when we never were - you only had to call the Royal Oak Hotel at Yaamba and look on the RACQ website to discover that (that’s what I did anyhow). Perhaps one sensible suggestion is a river height gauge at Pink Lily Highbanks. The grief really only starts when the river breaches those banks.

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Will She Be Right Mate?

This article was first published in The Morning Bulletin under the heading Will she be right mate? dated 30 October 2010.

Underinsurance can have a huge impact on the lifestyle your family chooses to follow. The family income can often halve if families lose the main breadwinner and an unexpected event can affect your family’s way of living including making mortgage repayments, the cost of running a car, holidays and other expenses. While your superannuation fund may provide a basic level of cover – quite often it is not enough.

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Cold Comfort

This article was first published in The Morning Bulletin under the heading Cold Comfort on 17 July 2010.

CQ’s future lies in dispensing with wrongheaded ideas and embracing a positive social attitude. Let’s recognise that we are a service town, and regain excellence in that. I say those holding us back have had their turn. Once on our way and not before, we can launch a new slogan – “CQ. It’s Hot!”

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2050 The New Town Dream

This article was first publihed in The Morning Bulletin dated 15th May 2010. The New Town.

The suggestion of a “new town” to accommodate the influx of people that some expect from the mining and gas boom smacks of being dreamt up by people who don’t know the history of urban development in contemporary Australia. Once home to Queensland’s second largest city, our region’s struggle to keep up, is perhaps more a matter of culture than ability. Some civic leaders expound the region’s natural position with respect to the resources boom, but most development of new mines is much nearer Mackay.

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Church Change and Climate Change

This article was first published in The Morning Bulletin under the heading electricity generation on 19 December 2009.

As an intermittent churchgoer and a constant thinker, considering the motives of other attendees is interesting. Do they fall into one of two categories? Those who believe and try to practise the principles of Christianity (or its alternatives), or those seeking gain (insurance against damnation for example). Or are there more? Could the debate regarding climate change be considered against similar parameters?

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There is nothing fishy here

This Article was first published in The Morning Bulletin as 'Fees and Fish' dated 29 August 2009.

Paying people to help me sucks. I say every service business should install a fish tank with barra in it – like the one at the show. Paint prices on the fish, and clients can cast a lure. They pay whatever is on their catch. It’s unbiased and fair. Gives those damn professionals something to do with their time too.

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A Brave New World

This Article was first published in The Morning Bulletin as 'Relevance of Novels' dated 02 August 2009.

Conveying a deep respect for work, nature, dreams, wounds, and the reciprocated love a boy can have for his mentor, it is a brilliantly spare description of man’s purpose. Amongst the sea of tabloid sex-cases, it’s a reminder that such relationships are normal - in fact required - if boys are to reach maturity.

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Are 'Queenslanders' being sold out?

This article was originally published in The Morning Bulletin as "Bligh's state asset sell-off the right move for everyone" dated 04 July 2009

Now some unions are making trouble for the Bligh Government's proposed sale of some ports, toll raod concessions and parts of Queensland Rail. It is normal to draw down on savings in tough times, and many Government assets earn way less than their potential, due to bloated cost structures, abysmal customer service and politically compromised business plans.

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Queensland Government Elections - The Upper House

This article was originally published in The Morning Bulletin on 1 April 2009.

Before every election my phone rings. Clients and business associates hang on the end of the phone muttering about the need for change. It’s always difficult to say something sensible. Of course we need change, but will a 1950’s time warp fit the bill?

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Issues with the website

Last night's upgrade appears to have caused some intermittent issues with the client portal. The upgrade has been rolled back. Please be advised that more work will be performed this weekend, and there may be periods where parts of this site are inaccessible. This should be completed by Monday morning.

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Website maintenance

Some maintenance work is scheduled on this website this afternoon. This work should be completed by 7.00 PM. Please let me know by email at ben_scott@capinvest.com.au or by telephone on 07 4920 4622 if you have any issues after that time.

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Griffin Financial Services

The purchase of Griffin Financial Services in Tamworth became a reality at the end of April and integration of our two businesses is now underway. With the workload being shared between Rockhampton and Tamworth, you may from time to time be contacted by Tamworth staff - Ray, Jane, Annette or Kayla.

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Spending to stimulate the economy - Lesson from the Great Depression

This article was originally published in The Morning Bulletin as "Government acted to replace people's regular spending" on 15th March 2009.

The Australian Government has recently handed $1,000 to pensioners. Soon many taxpayers will be receiving $900. In all, around $42 billion is being spent to help shield the Australian economy from the effects of the global downturn. The package includes funding for school buildings, home insulation and first home owners grants. It has been widely criticised by those who believe that the money is all being spent on plasma TV’s, pokies, and prostitutes.

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Getting your head around the CDOs

This article was originally published as 'Getting your head around the CDOs' on p 15 in The Morning Bulletin on 26th Nov 2004.

Collateralised debt obligations (CDO’s) typically offer a relatively high yield, with some type of capital guarantee or superior credit rating. Many investors are attracted by this combination, and recently brokers have been having a field day selling CDO’s.

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Interest rates cuts more certain as Australian growth slows. Brighter times ahead

This article was originally published as 'Interest rates cuts more certain as Australian growth slows. Brighter times ahead' in The Capricorn Coast Mirroron 7th May, 2008. Image sourced from http://www.flickr.com/search/?l=4&w=all&q=Sunshine+australia&m=text.

Slowing growth suggests an easing in the interest rate cycle and we expect that the RBA is likely to start lowering interest rates early in 2009.

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Position your portfolio

This article was originally published as 'Position your portfolio' in The Capricorn Coast Mirror on 21st May, 2008. Image sourced from http://www.flickr.com/search/?q=Australia+money&l=4&page=2

Identifying the current state of the economic cycle can help investors position their portfolios to benefit from macro-economic changes. Based on our assessment of our position in the investment cycle, how should an investor structure their portfolio?

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Bull markets make people lazy

This article was originally published as 'Money just a tool, but don't let lazy have its evil way' in The Morning Bulletin on 20th December, 2008. Image sourced from http://www.flickr.com/search/?l=4&w=all&q=fingers+burnt&m=text

Investors being burnt through dodgy corporate practices is nothing new – you can look at every boom and bust over the past 400 years to see that. There is no certain “recipe” for investment, only the business cycle. Uncertainty is actually the reason investors are rewarded, yet month after month, companies and individuals market “certain” outcomes, and consumers fall for it.

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Current market forces taking away all the fun

This article was originally published as 'Current market forces taking away all the fun' in The Morning Bulletin on 22nd November, 2008.

In the current dreadful financial markets, the distinction between price and value is the reason why most financial professionals do not recommend selling into bad markets. It is also at the core of one of the biggest and most damaging fads espoused by regulators and the setters of accounting standards in recent history – marking the carrying value of assets to the current traded price.

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