For those who asked for the details of the Investor Update... There were four products offered: 1. Colonial First State Geared Fund 2. Macquarie Property Income Trust 3. HFA Octane Asia Fund 4. Timbercorp Tax Advantage Investment My thoughts: 1. CFS Geared: already knew this was a great fund, 28% since inception which was more than 10 years ago, internal gearing up to 50%, some margin lenders will go to 70% for it. Personally, if I was going to get into it, it would be through a 100% rebate facility and at the best rates I could find. Nonetheless, you can't complain with that performance which seems to be relatively stable; only volatility resulted in one -'ve return in early 2000s. 2. Macq Property: it has been around for 3 years, apparently the top performing LPT over the past two years (I won't believe this until I research it), has internal gearing, up to 60% LVR on margin. About 15% since inception, about 60% tax deferred, distributions paid quarterly but 50% of income in June quarter. Personally, for income (which I'll need for funding growth investments) I am not quite sure what I'm going to do yet. I'll either go for an LPT with good tax benefits (and returns) or start trading. I'd only trade if the results would be much better. 3. Octane Asia: 100% finance, 8.?% rate, loan available for interest loan, internal gearing, it's an absolute return (hedge) fund that buys into other hedge funds, capital protected at 0.25%, finance and protection supplied by UBS, access to most Asian markets (incl. Japan I believe). The managers, HFA, apparently short-listed 700 Asian fund managers and personally interviewed 200 in Asia. Oscar Martinez is the manager, seemed like a pretty serious guy. Personally, I like the idea of this fund considering the volatility in the Asian markets (this is known but was also discussed by Peter). Apparently the fund is look for volatility (std dev) of 6-10%. 4. Timbercorp: this is another tax advantage tree investment. I didn't take many notes on this because my assessable income is going to be very low this year considering new investments, depreciation and existing -'ve gearing. Peter did talk about his outlook for the next 10 years. I'll just regurgitate it in straight prose for brevity. He says the next three years will be good for equities and that we are 50-60% the way through the equities peak (saying there may be 40% more of it to go). He doesn't see much growth in residential real estate for a long time (I'm sure they make more $ from clients investing in equities and it's much easier). He says the US will get very strong over next 12-18 months but is in for a big fall (NB: PS seems anti-US whichever way you look at it, anti-Liberal too - is this part of his campaign to capture the moms and dads?). 2009-20010 are the danger times for him, a cash cycle will follow US market correction. He says at the end of the decade he expects at least 11-12% rates (but really he says we'll see higher rates than ever 20%+, I think this was more an alarmist outburst though), high inflation, high unemployment, etc. He keeps saying a geopolitical event will cause instability, driving gold further up, driving economies far down. 2010-2013 will be recession times; he thinks it will be a depression though. 2013-2015 will be a new economic cycle and everything will start to recover and grow. Overall, the event was worth it. Oscar from HFA provided a very simple example to the moms and dads regarding volatility and why it can be bad for buy and hold. It was the good old, make 50% lose 50% vs lose 50% make 50% scenarios. As you know, both lose out below the initial amount. He gave me a great way to explain it to my parents though. Peter was his usual self (whether that's good or bad is up to you ).