NZ Everyday Investor

11/06/2026

I’ve been asked about this a LOT lately, so here are my honest thoughts about SpaceX, post IPO (initial public offering).
The facts: IPO valuation: $1.77 trillion / Price per share: $135 USD (if you can get them!) / Revenue multiple: 94× revenue (wowsers!!)

The good:
Space removes the hard constraints that will eventually choke AI buildout on Earth: energy, cooling, regulation, physical geography.
SpaceX is satellite company wrapped a rocket company, all rolled up in AI for good measure. If AI plus robotics goes interplanetary, the amount of value it unlocks could be immense.

Investors with a decade plus timeframe? I’d be open to it.
The bad:
Key person risk is off the charts with SpaceX. All of the success of SpaceX appears to rest on just one man - Elon Musk.
If you already hold Tesla stock, this requires another level of thinking. Do you really want to double down on the success of just one person?
The valuation is ridiculous, the hype is insane, and AI could still be bubble. You’re literally and figuratively strapping a rocket to your money and sending it off into space.

Even if it doesn’t crash and burn, the history’s clear: IPOs in hot markets underperform by 2–3% annually.
So what would I do: Check out the latest on YouTube to find out.

Want to know when it’s possible to own SpaceX in your KiwiSaver? Message me!

07/06/2026

One of the worst investments over the last 6 months, could still be one of the best assets to own.

Hank Harris is a Limited Partner in Ego Death Capital, and co-owner...

03/05/2026

The U.S. is over $39 trillion in debt.

Think about this from a household perspective- what are the options?

Reduce costs? Increase earnings? Go further into debt? Sell some stuff?

What happens if you’ve tried all that and you’re still going backwards?

And what would happen if/when the world loses faith in your/their ability to repay it?

Here’s a conversation I had with ex-wealth manager of 47 years about this exact problem.

It’s an important conversation if you want to be prepared for a potential return to the 1970s.

on YouTube now.

27/04/2026

What if there are TWO types of inflation?

1- Inflation from ‘CONTROLLED systems’ is when prices rise fastest in sectors that are heavily regulated, protected, or run by government (healthcare, education, insurance, energy, banking, and housing. )They can’t adapt quickly to technology or competition.

2- Inflation from UNCONTROLLED systems is when prices fall (or rise much more slowly) in free-market, competitive sectors where technology and innovation are allowed to run (consumer electronics, software, AI, crypto, manufacturing) because competition and rapid productivity gains drive costs down for the consumer.

If inflation doesn’t occur in all prices, then how effective will monetary policy be from here? Should we care less about what central banks and their benchmark interest rates are?

I had a great chat with fellow adviser Hamish Patel last week about this.

20 likes, 5 comments. "Will Central Banks 'Look Through' Stagflation?"

20/03/2026

‘Hey, Dads on TV!’

Talking about how well NZ is positioned to weather this oil shock.

Spoiler alert: we’re stuffed.

18/03/2026

Contrarian take here on the oil shock and the Middle East conflict, and why it might actually be good for Kiwi mortgage rates, not bad.

I think oil and war might be used as convenient scapegoats to drop the OCR this year.

https://youtu.be/fk6s7ye8r-k?si=iN2KDiHtDwWY1788

17/02/2026

Hard to believe interest rates are heading higher towards the end of the year.

Even harder finding someone who can respond to my rather leading questions.

Finally got the band back together!

Happy OCR announcement tomorrow!

12/02/2026

Time to be honest.

And a little vulnerable.

The thought of investing in bonds? I'd rather stab my eyeballs with a rusty fork.

But I do it anyway. Just a little.

For the right people, at the right time, bonds can still make sense.

But most self-directed investors I speak with, don't allocate to bonds at all. Why?

Too boring?

Don't know how they work?

Concerned of systemic risk?

Not enough rusty forks?

No wrong answers - do YOU invest in bonds/bond funds?

Special thank you to Chris Wilson CFA, from Harbour Asset Management, for speaking with me recently about why the age of the bond is not over.

Chris Wilson, co-CEO of Harbor Asset Management, joins Darcy Ungaro as the spotlight goes on the narrative that bonds are dead going forward. Are institution...

06/02/2026

The best investments wobble.

The best investors don’t.

05/02/2026

“I’ve only thought of money in one way, and that is to do something with it, you see? I don’t think there is a thing that I own that I will ever get the benefit of.” - Walt Disney.

What’s the point of amassing wealth, if you never DO anything with it?

Disney’s philosophy was that money was a means to an end, rather than a source of comfort/ an end unto itself.

If you have money, but no idea what to do with it, have kids!

Better yet, take them to Disneyland! You won’t have any money left, but very happy kids.