In USD Terms We Lost 7.7%

In Australian Dollar terms we gained 2.3% for the year as the MSCI gained 0.9% and the ASX200 lost 1.1% (all pre-tax including dividends). In USD conditions we lost 7.7%, as the MSCI lost 8.9% and the S&P500 lost 4.4%. So we defeat Australian and international markets however, not the US market.

We did well compared to the ASX 200 during the last 5 years. Much less great over 10 years. In USD terms we’ve done well compared to the MSCI during the last three years and underperformed over longer time periods. I also reduced my allocation to Australian, large-cap stocks around the same time, October in early.

Earlier in the entire year, the allocation to cash falls as we increased trading and spent more in the Winton Global Alpha Fund (goods) and subscribed for some IPOs. Private equity also increased with investment in Aura and IPE and then decreased with the takeover of IPE. I stopped reporting monthly accounts this season, but I’ve still been computing them. There are several quirks in the true way I compute the accounts, which have evolved over time gradually.

Current account is all non-retirement accounts and housing account income and spending. The other two are pretty self-explanatory Then. But housing spending only includes mortgage interest. Property fees etc. are included in the current account. There isn’t a lot of logic to this except the “transfer to housing” is measured using the transfer from our bank checking account to our mortgage account.

Current other income is reported after taxes, while investment income is reported pre-tax. Net tax on investment income then gets subtracted from current income as our annual tax refund or extra payment gets included there. Retirement investment income gets reported pre-tax too while retirement contributions are after taxes. For retirement accounts, “tax credits” is the imputed tax on investment earnings which is used to compute pre-tax earnings from the actual received amounts.

For non-retirement accounts, “tax credits” are actual franking credits received on Australian dividends and the taxes withheld on international investment income. Finally, “core expenses” for housing is the actual home loan interest we paid. We include that kept interest in today’s account as the wages of that pile of cash. It is also contained in the “transfer to housing”.

6k in saved interest. For current accounts “core expenditure” removes business expenses that’ll be refunded by our employers and some one-off expenditures. This year, I believe there is nothing of these one-off expenses. 35k on non-retirement account investments. Year Both of those figures were down strongly from last.

31k in “forex” gain). 9k of the existing pre-tax investment income was tax credits – we don’t actually get that money so we need to deduct it. 45k in mortgage payments (and virtual saved interest) to the housing account. 8k. Calendar year Both these quantities are down steeply from last. The retirement account is a little simpler. 23k in the taxation statements.

  1. 7 years back from Portland, OR
  2. Cost of scrap and quality failure
  3. Push Your Passion
  4. Legislation hurdles (procurement & maze of procedures dictated by various Acts and plans)
  5. Inventory items on an assembly line in various stages of creation are categorized as
  6. Common size balance linens represent all statistics on the total amount sheet

4k in “tax credits” is an adjustment had a need to get from the quantity I calculate as a pre-tax return to the after tax number. Taxes on earnings are just approximated because all we reach see is the after tax returns. I do this exercise to make retirement and non-retirement profits similar. Finally, the housing account.

16k on mortgage interest. 24k in mortgage interest if we didn’t come with an offset account. Year predicated on recent sales in our neighborhood 24k more than I did so last. 23k was due to paying off the principal on our mortgage. 69k which was saving from non-investment sources. Comparing 2018’s accounts with 2017’s, we kept 49% less and online worthy of increased by 79% less.