So, Mum and Dad Kiwi, you listened to the multi-million dollar ad campaigns and the years of propaganda from National, and you bought shares in one of their asset sales. How are you doing so far?
Don’t listen to English, who claims you haven’t lost anything unless you’ve cashed up – that’s the same as saying your house or your Kiwisaver isn’t worth anything until you sell or draw down, and it’s not how English accounts for the value of shares on the government’s books.
Let’s look at your losses.
Mighty River:
You bought at: $2.50 per share
Average retail purchase: $8,220 (3,288 shares)
Dividends received: 7.2 cents per share, $236 for average retail shareholder
Change in share value: -40 cents per share, $1,315 for average retail shareholder
Net loss: $1,084 for average retail shareholder, $5 each day since listing
Meridian:
You bought at: $1 per installment receipt
Average retail purchase: $16,000 (can’t find exact)
Dividends received: $0
Change in share value: 0 cents
Net loss: $0, $0 each day since listing
Air New Zealand:
You bought at: $1.65
Average retail purchase: Nobody knows
Dividends received: $0
Change in share value: -8.5 cents per share, $510 per $10,000 of shares
Net loss: -$510 per $10,000 of shares, -$510 each day since listing
So, who wants to buy some shares in Genesis?
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