margin lending - 借过的进来说说看法和感觉

黑山老妖

在考虑margin lending买基金。因为有税务上的好处和最近利息比较低而且看来是还要更低。

谁有过经验的能不能说一说你们的看法和抄作上感悟？
谢谢。

cn_yy

买那个类型的基金？

philgu

原帖由 黑山老妖 于 2006-12-7 13:18 发表
在考虑margin lending买基金。因为有税务上的好处和最近利息比较低而且看来是还要更低。

谁有过经验的能不能说一说你们的看法和抄作上感悟？
谢谢。

1. Interest is mostly around 9% now (therefore only worthwhile for reasonably high marginal tax rate)
2. 20-25bps interest difference is normal but be very careful choosing the margin lender. Service quality is of great importance. Interest rate is only a secondary consideration. The reason lies with time delay when you lodge your application and when margin lender deliver it to fund manager. Service quality forms an important part of successful execution of your investment strategy. I had terrible experience with HSBC previously.
3. Number of funds and stocks on the approved security list is very important.

黑山老妖

原帖由 philgu 于 2006-12-7 16:09 发表
1. Interest is mostly around 9% now (therefore only worthwhile for reasonably high marginal tax rate)
2. 20-25bps interest difference is normal but be very careful choosing the margin lender.  ...

Thank you for the head up phil. I will keep that in mind and ask them when I call for more information.

Currently looking at commsec (8.45% fixed 5 years) and NAB(8.6% fixed 5yrs) both have extensive list of approved shares/funds. While going through the docos I also discovered this thing called regular gearing margin loan which works like regular investment, I think I might go for that instead. Need to call them up first to find out how it works first. Had a look at the index today and got the impression that it's in for a correction very soon according to my limited skill of technical analysis.

The tax benefit is only 30% but that means I am really paying ~6% interest in real terms, if I go for an imputation fund the distribution with tax credit will almost cover that. So looks pretty good on paper.

PeterWay

这是不是就是空手套白狼的一种?

philgu

原帖由 黑山老妖 于 2006-12-7 16:28 发表


Thank you for the head up phil. I will keep that in mind and ask them when I call for more information.

Currently looking at commsec (8.45% fixed 5 years) and NAB(8.6% fixed 5yrs) both have  ...

No worries.

I am not sure how five year fix rate work. But to me around 50 bps of discount is not quite enough given now the long term yield curve is flat/inverted. A side question, I am considering buying home next year (hopefully house). Do you have suburb to recommend (not above 700k for house)?

黑山老妖

原帖由 peterwei 于 2006-12-7 16:59 发表
这是不是就是空手套白狼的一种?

那倒不是。。。
margin lending一般只能借40-70%视投资的股票/基金风险而定所以自己也要一点本钱才行。而且不能借满了，不然margin call来了就哭不出来了。股票太危险了，基金比较保险margin call的机会小很多。

[ 本帖最后由 黑山老妖 于 2006-12-7 17:08 编辑 ]

黑山老妖

原帖由 philgu 于 2006-12-7 17:04 发表
No worries.
I am not sure how five year fix rate work. But to me around 50 bps of discount is not quite enough given now the long term yield curve is flat/inverted. A side question, I am con ...

what's your selection criteria? for living for investment?

cn_yy

原帖由 黑山老妖 于 2006-12-7 16:28 发表


Thank you for the head up phil. I will keep that in mind and ask them when I call for more information.

Currently looking at commsec (8.45% fixed 5 years) and NAB(8.6% fixed 5yrs) both have  ...

The tax benefit is only 30% 是个什么意思，inteset不能全部offset?
我最近也在看基金，准备买点listed property fund
黑山看上了 什么基金

philgu

原帖由 黑山老妖 于 2006-12-7 17:05 发表


what's your selection criteria? for living for investment?

Mainly for living - but of course with reasonable growth. You don't want to have the property diminish in real term when you try to buy next one. Personally don't feel I can afford anything with substantial growth now (far too expensive in Sydney).

Also good transportation to city is essential as both of us work in city. We have been going through suburb first before we look at individual properties. I view comments from people wth real living experience in that area very highly.

黑山老妖

原帖由 cn_yy 于 2006-12-7 17:12 发表
The tax benefit is only 30% 是个什么意思，inteset不能全部offset?
我最近也在看基金，准备买点listed property fund
黑山看上了 什么基金

30%是我的税率。。。穷人哪。。。
listed property fund自己去网上查一下吧，我好久没看了。
这次看的是BT imputation，不过还不确定要不要买。再看看。

黑山老妖

原帖由 philgu 于 2006-12-7 17:15 发表
Mainly for living - but of course with reasonable growth. You don't want to have the property diminish in real term when you try to buy next one. Personally don't feel I can afford anything wit ...

Okay, lets look at where the rail line goes...
I think the price really rules out lower/mid north shore and eastern suburbs.
Outer west is a disaster zone in terms of growth. Don't want to touch that.

I am not familiar with the southern part of Sydney so I have no comment. I think 休 is the one who can comment more on that area.

If you don't mind the tight space and maybe less leafy surrounding then inner west might be a good choice. Like summer hill. It's got train and shops close to ashfield for cheap groceries etc. Still good growth potential because of the scarcity of land and proximity to city.

If you want to have a bit of space then I say you move to somewhere like eastwood with good transport to city and easy access to shops etc. under 700K will also get you something small and out of the way in Epping but I would say you are probably better off with eastwood.

You might also be able to pick something up around concord... I don't particularly like that area, admittedly for no real reason, unless its close to water which will then make it too expensive.

hornsby also works a bit far but its got country link. Growth potential is not as good as somewhere closer to city.

cn_yy

原帖由 黑山老妖 于 2006-12-7 17:17 发表


30%是我的税率。。。穷人哪。。。
listed property fund自己去网上查一下吧，我好久没看了。
这次看的是BT imputation，不过还不确定要不要买。再看看。

30％已经收入比我高了，我在这里还没有收入呢
我已经看过，今天已经收到了2个PDS了，
老妖你对澳洲澳洲的金融产品比较熟悉，如果我的钱来自于房贷，以你的看法你会怎么操作？

黑山老妖

原帖由 cn_yy 于 2006-12-7 17:35 发表
如果我的钱来自于房贷，以你的看法你会怎么操作？

不懂。能不能解释一下？

cn_yy

原帖由 黑山老妖 于 2006-12-7 17:37 发表


不懂。能不能解释一下？

就是那部分的钱其实是多还的，我想把它redraw出来

黑山老妖

原帖由 cn_yy 于 2006-12-7 17:40 发表
就是那部分的钱其实是多还的，我想把它redraw出来

我觉得买股票太危险了，所以我买基金。你做外汇风险就比股票更高了，说明你对风险承受能力很高。比我的要高出好几个档次。我不觉得我的投资方案会适合你的。

没/低收入的好处就是不缴税。你的投资只要回报超过你的home loan的利息就可以说是赚了。缴税就无形把这个指标提高了不少也增加了不少难度和风险。所以你只要找那些回报高过利息的就可以了。

早上我用我那半桶水的水平看了看股市，个人觉得快要调整一下了。所以我也不太急着买基金，等它跌了再说。大多数的金融师说现下的股市是fair valued，也就是说可能上可能下。看看先。

philgu

原帖由 黑山老妖 于 2006-12-7 17:31 发表


Okay, lets look at where the rail line goes...
I think the price really rules out lower/mid north shore and eastern suburbs.
Outer west is a disaster zone in terms of growth. Don't want to to ...

Very nicely outlined. Thanks.

Actually I lived around Summerhill and pretty much priced out of market now. A reasonable block (older style house with 600 sqm) probably set you back 850k - 900k. At North/North West, we have been to Hornsby, Normanhurst, Thornleigh, Westleigh, Pymble, Waitara, Asquith, Mt Colan, Epping, Eastwood, Castle Hill (just to get a idea how the suburb look). Now we are more foucing on Southern surburbs. I gathered you live around Eastwood area and we might ask more of your opinion if we look around that area.
I guess I probably should stop interrupting your managed fund thread here. Many thanks,

cn_yy

原帖由 黑山老妖 于 2006-12-7 17:52 发表


我觉得买股票太危险了，所以我买基金。你做外汇风险就比股票更高了，说明你对风险承受能力很高。比我的要高出好几个档次。我不觉得我的投资方案会适合你的。

没/低收入的好处就是不缴税。你的投资只要回报 ...

谢谢你给的建议

我觉得你说的对，外汇的风险是最大的，外汇我只是很少的投资，而且我操作的日子很短，是因为移民才注意外汇的

我现在这个资金是倾向低风险投资的，也不能提离澳洲的（因为家里的原因），所以只能在澳洲寻找基金投资了

[ 本帖最后由 cn_yy 于 2006-12-7 18:28 编辑 ]

黑山老妖

原帖由 philgu 于 2006-12-7 17:56 发表
Actually I lived around Summerhill and pretty much priced out of market now. A reasonable block (older style house with 600 sqm) probably set you back 850k - 900k. At North/North West, we have been to Hornsby, Normanhurst, Thornleigh, Westleigh, Pymble, Waitara, Asquith, Mt Colan, Epping, Eastwood, Castle Hill (just to get a idea how the suburb look). Now we are more foucing on Southern surburbs. I gathered you live around Eastwood area and we might ask more of your opinion if we look around that area. I guess I probably should stop interrupting your managed fund thread here. Many thanks,

Well, this thread was for margin lending, looks like no one apart from you has any experience with it.

Summer hill, if you don't mind buying smaller (600sqm is big for that area) you can probably find decent semi or terrace for under 700K. For newtown/camperdown area, you can also get terrace for under 700K.

I know ppl who brought house around normanhurst area, growth is low. Nice blocks though.

bffbffbff

原帖由 黑山老妖 于 2006-12-7 17:17 发表


30%是我的税率。。。穷人哪。。。
listed property fund自己去网上查一下吧，我好久没看了。
这次看的是BT imputation，不过还不确定要不要买。再看看。

25001是穷人,74999就不是很穷啦:si32