Loading... Please wait...Surviving bad investments and bad advice
By Gareth Morgan
In After the Panic Gareth outlines the problems with the products that have collapsed; talks about why the savings and investment sector is still structurally sick; and discussed how best to navigate investing now.
This is a must-have book for anyone with super, Kiwisaver or investments of any kind.
Tragically, many of Gareth Morgan's predictions in his bestselling 2007 book Pension Panic, have come to bear.
Thousands of Kiwis who'll be attending his national Financial Roadshow charity fundraiser touring to 15 main centres through June and July, will be some of the first to get their hands on a copy of his new follow-up book, After the panic: Surviving bad investments and bad advice.
A champion of ordinary Kiwis, Morgan says his new book is for all of those decent and hard-working people who have been so badly let down by regulators, policy makers and individual company directors. He's determined to do whatever he can to make sure that this never ever happens again.
It's a disgrace what's happened. Look at all of the finance companies and money that's gone down the tubes in the last couple of years,? says Morgan.
The property market is in tatters and lots of super schemes are in trouble.
But, we've finally brought to an end this international 20 years of excess credit. It was just nuts. There were even government agencies who were lending people the money for their deposits if they didn't have it for Pete's sake.
Now we're facing a world without fast and loose credit and banks have to go back to core business. If you don't have the 20% deposit you can't get the money for the house. It's that simple. End of story. This is the way it was for our parents and their parents. But, for a whole new generation this is a new thing.
We need this book so we can figure out how to move forward. Although there's been a lot of stuff swirling about in the media with names being mentioned here and there I suspect people were so overwhelmed with the unrelenting bad news that they ended up switching off almost desensitised or so worn down by it all that they've disengaged. And this is dangerous.