Latest news with #Wolfe
1News
3 days ago
- Business
- 1News
Is your dream suburb too expensive? 'Rentvesting' could be the solution
Rentvesting is where you live in one place and buy a house in another. But what are the pros and cons? Frances Cook weighs them up. There's a very Kiwi idea that owning the home you live in is the pinnacle of success. You get the keys, throw a housewarming, maybe dig a veggie patch, and settle in with the satisfaction that you've 'made it'. But what if that belief is getting in the way of smarter decisions? The Tuckers would like to return to New Zealand and buy a home one day. (Source: Let's be honest, trying to buy your first home in places like Auckland or Queenstown is brutal. ADVERTISEMENT Plenty of people need to live in those places for work reasons, yet prices are sky-high, and every extra year it takes to save that deposit is another year of compromise. Smaller house. A landlord. Longer commute. Another year where you're paying someone else's mortgage, instead of your own. But what if you didn't have to buy where you live? What if you could rent your dream lifestyle, and invest somewhere else? That's the idea behind rentvesting, and it might be worth a look. Rentvesting 101 At its core, rentvesting is exactly what it sounds like. You rent your home, and buy a house elsewhere, typically in a more affordable area with better financial returns. It's a strategy that Ilse Wolfe knows well. Wolfe is a seasoned property coach and investor who recently made the move herself. She sold her Grey Lynn home and shifted to a rental on Takapuna Beach. ADVERTISEMENT 'Rentvesting is basically upgrading your lifestyle, going to a location that you want that's usually more premium than where you could afford to have a mortgage,' she says. 'So it's a lifestyle upgrade, for less of a weekly outgoing.' Wolfe and her husband looked at the cost of owning their million-dollar home in Grey Lynn, and compared it to what that same amount could do if they were to buy in a cheaper area, rent out that house and have the mortgage paid by tenants, while gleaning a little extra income in the process. And all while renting a lovely home themselves in a beachside area where properties tend to be even more expensive than in Grey Lynn. But could you go back to renting? Here's where the emotional friction kicks in. For most of us, the idea of renting forever can feel… unsettling. Especially if you have kids. Especially if you've finally found a school zone you like. Especially if you want to redecorate without having to ask for permission. Or if you're just tired of moving house every time the landlord decides to renovate. School zones are often a major consideration for families choosing where they live. (Source: 1News) ADVERTISEMENT Wolfe understands that hesitation. She says one of the biggest mental hurdles in their decision was whether they were about to uproot their children's lives, including school and friendships. But after six weeks in their new rental, they were sure that it had been the right call, even if it was daunting at the time. Ttheir landlords live next door, have owned the property for decades, and treat it with pride. She credits that for creating a sense of mutual care and community. 'They come around and check on us,' she says. 'And the cool thing is… we have neighbourhood drinks. All of the neighbours on our street, three or four times a year, get together. So we're in a real community here and the kids are invited.' The numbers still matter Of course, warm fuzzies aren't enough. Rentvesting only works if it stacks up financially. If you're a first-home buyer, you may also need to change strategy, if you're mainly saving into your KiwiSaver. Your KiwiSaver can only be used for a first home deposit if you'll actually be living there. ADVERTISEMENT You may also need to bring in a pro to help you run the numbers. Get an accountant to help you run the numbers. (Source: Wolfe emphasises that anyone considering rentvesting should chat to an accountant early, as the move could have implications for things like ownership structure, interest deductibility, or capital gains exposure. She also stressed the importance of not pushing your weekly rent budget to the limit just because a property is exciting. There is the possibility of rent increasing, and you need to give yourself buffer to afford that possibility. 'You don't want that mental load on top to have that concern. There's enough to juggle these days.' Is this a good first-home buyer strategy? Wolfe said more of her clients, especially younger couples, are now rentvesting as their entry point into property. ADVERTISEMENT Some already have families and choose to rent a home they love, while using their deposit to purchase cashflow-positive rentals in more affordable parts of the country. She described one couple who had lived in their rental for years and didn't want to downgrade just to 'get on the ladder.' Instead, they used their savings to buy two investment properties in regional New Zealand. Wolfe helped them turn each one into a four-bedroom rental, earning more than enough to cover costs, even after the arrival of their first baby. 'They're making money from a rental property, they're living in a home that's better than what they know they could otherwise afford,' she says. "So they are moving forward and they now have two rental properties before they've even bought their own home.' Rentvesting isn't a silver bullet. It won't work for everyone. And it's definitely not the mainstream path — yet. But if you feel like you're stuck, priced out of buying where you want to live, and getting nowhere fast, then rentvesting could open up another path. One where you still make progress, even if it doesn't look like the traditional 'first home' story. The information in this article is general in nature and should not be read as personal financial advice. ADVERTISEMENT
Spectator
6 days ago
- Entertainment
- Spectator
Let straight white men write novels!
About 15 years ago, I tried to interest my literary agent in a state-of-the-nation novel set in 21st-century London. My model was Bonfire of the Vanities, Tom Wolfe's masterpiece about New York in the 1980s. I'd read Wolfe's essay in Harper's magazine called 'Stalking the Billion-Footed Beast' in which he urges ambitious young authors to dispense with namby-pamby, post-modernist experimental nonsense and follow in the footsteps of Balzac, Zola and Dickens – write realistic novels documenting every aspect of contemporary society in granular detail. I wrote a 10,000-word proposal summarising the story, which began with a black teenage drug dealer coming to the rescue of a posh teenage girl in Shepherd's Bush by fighting off a group of roadmen trying to steal her puppy. They gradually get enmeshed in each other's lives, with predictable tragi-comic results. It was basically Romeo and Juliet but with race and class dividing the lovers. I was quite pleased with it and so was my agent. That is, until she ran it past a recent Cambridge graduate she'd just hired as an in-house sensitivity reader, who declared it an absolute 'no-no'. How dare I, as a straight white man, presume to create a young female character and – worse – a young black man? Talk about cultural appropriation! If the agency sent this proposal out to publishers and they commissioned it, it would be denying a voice to the very people I was proposing to speak on behalf of. Didn't I realise the literary phallocracy was in its death throes? The 'litbros' must make way for girlboss authors such as Zadie Smith and Rachel Cusk. I talked it over with my agent and she said this probably reflected the prevailing attitude in the publishing trade, which is largely made up of young female graduates. And so it proved to be. These days, novels written by straight white men – particularly young men – are as rare as hen's teeth. No white British man under 40 has been shortlisted for the Booker Prize since 2011. The closest is Douglas Stuart, a 49-year-old Scot, who won it in 2020. This isn't just true of the UK obviously. A recent article in Compact revealed that not a single white American man born after 1984 has published a work of literary fiction in the New Yorker. The dearth of young male novelists has reached such a pass that various literary lions are taking steps to address the problem. Unfortunately, their pleas for young men to submit manuscripts are nearly always prefaced by the usual throat-clearing about the insufferable privilege enjoyed by straight white males. For instance, a novelist and critic called Jude Cook announced in April that he was launching an independent literary press called Conduit Books that would focus on overlooked male writers. 'We believe there is ambitious, funny, political and cerebral fiction by men that is being passed by,' he said. He then spoilt it by denouncing the male-dominated literary scene of the 1980s and 1990s as 'toxic' and described the 'excitement and energy around new and adventurous fiction' by female authors like Sally Rooney as a 'timely corrective'. Not sure I'll be sending my proposal to him. Another bat signal appeared in the New York Times at the end of last year, entitled 'The Disappearance of Literary Men Should Worry Everyone'. The author, who teaches creative writing at the University of Nevada, urged men to start writing novels again, not because he thought they might have something to say but because it might get other men reading again and that would be therapeutic. 'Reading fiction is an excellent way to improve one's emotional IQ,' he said. That, in turn, would be good for women. Literature helped men 'transgress patriarchal boundaries', he added, and that meant the lives of women 'fundamentally changed for the better'. When will these self-appointed champions of male novelists stop apologising for being men? The literary agent Matthew Hamilton told me an anecdote that illustrated the point: 'Last week I heard a story of a prominent agent submitting a novel by a straight white male and apologising it was by a straight white male in the accompanying letter. Needless to say, he's a straight white male.' Happily, there's light at the end of the tunnel. Hachette has folded its Dialogue division, which was set up to publish more 'diverse' authors, into another subsidiary, and a literary agency set up to find 'new voices' (i.e. anyone apart from straight white men) has just closed its doors. Perhaps I should set up an imprint myself: Toxic Books. It would just publish novels by people like me for people like me. I might make a mint.
CNBC
7 days ago
- Business
- CNBC
Analysts are getting more bullish on these names with strong earnings growth
Stocks with durable growth and rising forecasts could outperform this earnings season, according to Wolfe Research. Financial results will be pouring in this week, with 35 stocks in the S & P 500 — or about 7% of the benchmark — on the schedule to report their latest earnings. Big banks including JPMorgan Chase , Wells Fargo , Citigroup , BlackRock , Bank of New York Mellon and State Street commenced the season on Tuesday morning. Other headliners reporting this week include PepsiCo , Netflix , United Airlines , 3M and Johnson & Johnson . In a Monday note, Wolfe Research shared a list of S & P 500 stocks with strong potential earnings growth. More specifically, the stocks had durable growth on both the top and bottom lines, as well as positive 2025 year-to-date earnings revisions. One name on the list was natural gas producer EQT , up 26% this year. Barclays echoed Wolfe's bullish sentiment on the stock. Last week, Barclays analyst Betty Jiang initiated coverage of EQT at an overweight rating. " Reintegration with [Equitrans Midstream] helps drive all-in free [cash flow] breakeven to sub-$2.00/Mcf by 2028, enabling durable FCF generation and participation in upside gas volatility. EQT is also among the best positioned to capture structural demand growth opportunities in Appalachia," she wrote. Equitrans is EQT's former pipeline unit. The company announced plans to buy it in order to improve its cost structure as natural gas prices remain at low levels. Jiang's $65 price target is approximately 12% above where shares of EQT closed on Tuesday. Lam Research , up 40% in 2025, also made the list. Goldman Sachs was similarly bullish the name, initiating the semiconductor stock at a buy rating last week. "We believe the company is on track to capture over 50% of its incremental SAM [serviceable available market] in the coming years," the bank wrote. "Despite Lam reporting revenue ~11% below prior peak levels in 3Q22, the company generated the highest gross margins realized post the Novellus merger, which we believe reflects Lam's strong operational execution." Goldman Sachs set a price target of $115, offering approximately 14% upside from the stock's current value. Goldman similarly initiated peer semiconductor stock Broadcom also at a buy rating last week. Shares have surged 21% this year. "Broadcom has a dominant franchise position across several segments of infrastructure software as a result of a long-term M & A strategy. We believe the company is likely to sustain its dominant position in enterprise networking silicon, and will continue to leverage this leadership to drive majority share in custom silicon processors for major U.S. hyperscalers — which should drive AI to comprise over 40% of the company by 2026," the bank wrote. "At the same time, Broadcom continues to generate steady, growing profitability in its core infrastructure software business." The bank's $315 price target implies upside of 12% from Broadcom's Tuesday closing price.
ITV News
15-07-2025
- Politics
- ITV News
Dartmoor body failing to protect degrading environment from overgrazing, court told
The body tasked with protecting Dartmoor's natural environment is failing to stop it being 'ecologically degraded' through overgrazing, the High Court has been told. Campaign group Wild Justice is taking legal action against Dartmoor Commoners' Council (DCC), saying it has breached its statutory duties by allowing overgrazing on the commons. Of the 95,000 hectares in Dartmoor National Park, 36,000 are registered as common land, which are privately owned but open to public access. There are around 850 commoners, or owners of properties on the commons, who have rights permitting them to keep sheep, cattle and ponies. But lawyers for DCC, which opposes the challenge and denies it has breached its duties, told the court less than 20% of the commoners are active graziers. David Wolfe KC, for Wild Justice, said in written submissions that DCC has failed 'to ensure that the commons are not overstocked' and has not issued any limitation notices 'in the last 10 years'. He pointed to a 2023 Government-commissioned report, the Fursdon Review, which he said concluded 'Dartmoor is not in a good state'. He also said DCC has not properly assessed how many animals can be stocked on the commons in the last decade and has breached regulations obliging it to protect the 'conservation and enhancement of the natural beauty of the commons'. The barrister said: 'Dartmoor's unique and precious habitats are being ecologically degraded by overgrazing, yet DCC, which is tasked by Parliament to prevent this, is not acting.' In addition, Mr Wolfe said DCC has adopted an advocacy role on behalf of commoners beyond its regulatory duties. He asked the court to order DCC to comply with its statutory duties and carry out an assessment of the number of animals that can graze, as well as order it to issue limitation notices. Matthew Fraser, for DCC, said in written submissions that limitation notices are a 'crude approach' and a 'blunt instrument' which do not address practical difficulties in managing a balance between the environment and the rights of commoners. He said any necessary reductions to the amount of livestock are best achieved through schemes that reward farmers for taking positive environmental action. The barrister also denied any failure to issue limitation notices is unlawful and that DCC has made assessments of overgrazing, pointing to its participation in the Fursdon Review. Mr Fraser described Wild Justice's complaint about the lack of assessments as 'academic'. The natural beauty 'is a core consideration' for DCC members, he added, while representing commoners is 'entirely permissible'. The hearing, before Mr Justice Mould, is due to conclude on Wednesday, with a written judgment expected at a later date. Speaking before the hearing in London, Chris Packham, co-director of Wild Justice, said: 'Sheep, subsidised by the public, are doing significant damage to lands which should be maintained in the public interest as rich repositories of biodiversity. 'We are paying many farmers and commoners to damage our own interests. And the sums run into millions of pounds each year. 'Greed is driving this abuse, pure and simple, and it needs to stop. The Department for Environment, Food and Rural Affairs and Natural England have proved incapable of regulating this, so Wild Justice has stepped up. 'We are in a crisis – change is essential, and this reckless destruction needs to stop.' A spokesperson for DCC said: 'The council recognises that Dartmoor is a complex and sensitive landscape – a living, working environment shaped over many hundreds of years by pastoral management. 'Dartmoor consists of a mosaic of critically important and interdependent habitats, and these areas continue to require ongoing, informed and specialist management in partnership with those people – including commoners and other farmers – who live and work on the moor. 'The council also recognises that maintaining a positive natural environment on Dartmoor is of vital importance both for its own sake and in order to ensure the sustainability of farming on Dartmoor's common land for future generations.'
Yahoo
09-07-2025
- Automotive
- Yahoo
Nissan raises $1.4 billion through convertible bond sale
-- Nissan (OTC:NSANY) Motor Co. has raised ¥200 billion ($1.4 billion) through the sale of convertible bonds as the Japanese automaker seeks funds to maintain its operations, Bloomberg reported on Wednesday. The convertible bonds will mature in 2031 and carry a 1% annual coupon, payable twice a year, according to a company filing. The bonds have an initial conversion price of ¥397.2, which represents a 30% premium above Nissan's closing share price on Wednesday. This bond sale, one of Japan's largest in recent years, is part of Nissan's broader strategy to raise more than ¥1 trillion and revitalize the company. CEO Ivan Espinosa, who took the position earlier this year, is working to refresh the automaker's aging product lineup while addressing a significant loan repayment deadline coming next year. Nissan stated on Monday that it plans to use the proceeds from the bond sale to invest in new products and technologies. The company is also planning to issue $4 billion in unsecured dollar- and euro-denominated junk bonds for general corporate purposes, including debt refinancing, according to the Bloomberg report. The deal is being arranged by Bank of America Corp (NYSE:BAC)., Citigroup Inc (NYSE:C)., Mizuho Financial Group (NYSE:MFG) Inc., Morgan Stanley and SMBC Nikko Securities Inc. Related articles Nissan raises $1.4 billion through convertible bond sale Wolfe says MongoDB opportunity 'too difficult to ignore' How are investors positioned for the summer? Sign in to access your portfolio
