Comments on: The Australian Resources Tax http://www.stubbornmule.net/2010/05/the-australian-resources-tax/ Obstinately objective Wed, 08 Feb 2012 01:46:02 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Marco http://www.stubbornmule.net/2010/05/the-australian-resources-tax/comment-page-1/#comment-7636 Marco Mon, 17 May 2010 00:52:35 +0000 http://www.stubbornmule.net/?p=2903#comment-7636 Like Peter Martin said: "Coalition frontbencher Peter Dutton bought BHP on Tuesday May 4 when it closed $38.59 "Friday it closed $38.64 "He was better share trader than he was a politician." http://petermartin.blogspot.com/2010/05/peter-dutton-is-ahead-on-his-bhp-shares.html Too bad he couldn't scape the curse of all politicians: he didn't put more money there. You know, to make it worthwhile. Like Peter Martin said:

“Coalition frontbencher Peter Dutton bought BHP on Tuesday May 4 when it closed $38.59

“Friday it closed $38.64

“He was better share trader than he was a politician.”

http://petermartin.blogspot.com/2010/05/peter-dutton-is-ahead-on-his-bhp-shares.html

Too bad he couldn’t scape the curse of all politicians: he didn’t put more money there. You know, to make it worthwhile.

]]> By: Stubborn Mule http://www.stubbornmule.net/2010/05/the-australian-resources-tax/comment-page-1/#comment-7634 Stubborn Mule Sun, 16 May 2010 23:43:34 +0000 http://www.stubbornmule.net/?p=2903#comment-7634 <strong>Marco:</strong> as I understand it, he bought 50 shares, so less than $2,000 worth. Regardless of the prospects for the stock, it seems like a remarkably foolish thing to do politically for that amount of money. Marco: as I understand it, he bought 50 shares, so less than $2,000 worth. Regardless of the prospects for the stock, it seems like a remarkably foolish thing to do politically for that amount of money.

]]> By: Marco http://www.stubbornmule.net/2010/05/the-australian-resources-tax/comment-page-1/#comment-7633 Marco Sun, 16 May 2010 19:36:25 +0000 http://www.stubbornmule.net/?p=2903#comment-7633 Hey Stubborn, Check this out: Peter Dutton bought BHP shares AFTER Tony Abbott all but administered the last rites to the mining industry: Liberal MP buys BHP shares 'despite tax' http://currentaffairs.ninemsn.com.au/national/1053004/senior-liberal-mp-buys-bhp-shares Hey Stubborn,

Check this out: Peter Dutton bought BHP shares AFTER Tony Abbott all but administered the last rites to the mining industry:

Liberal MP buys BHP shares ‘despite tax’
http://currentaffairs.ninemsn.com.au/national/1053004/senior-liberal-mp-buys-bhp-shares

]]> By: Stubborn Mule http://www.stubbornmule.net/2010/05/the-australian-resources-tax/comment-page-1/#comment-7632 Stubborn Mule Sun, 16 May 2010 10:13:46 +0000 http://www.stubbornmule.net/?p=2903#comment-7632 <strong>James:</strong> We're after Oz All Ords ex Mining, Oz Mining and Global Mining. The All Ords ex Mining is to get a better sense of the spread between Mining & everything else (it won't change the results in the post, it will change the quantum). The Global Mining is to see whether there was a global effect on Mining (e.g. uptick in commodity prices) that affected the sector here independent of the tax news. James: We’re after Oz All Ords ex Mining, Oz Mining and Global Mining. The All Ords ex Mining is to get a better sense of the spread between Mining & everything else (it won’t change the results in the post, it will change the quantum). The Global Mining is to see whether there was a global effect on Mining (e.g. uptick in commodity prices) that affected the sector here independent of the tax news.

]]> By: JamesGlover http://www.stubbornmule.net/2010/05/the-australian-resources-tax/comment-page-1/#comment-7631 JamesGlover Sun, 16 May 2010 09:18:01 +0000 http://www.stubbornmule.net/?p=2903#comment-7631 Guys, what more are you looking for: Oz mining shares|All Ords, All Ords| Oz mining, Oz mining| Global Mining? It's all getting a bit Bayesian. The answer to the original question is clear from @sean's analysis. There is no evidence that the govt mining super tax announcement impacted negatively (a week later) on Oz mining company market value. Guys, what more are you looking for: Oz mining shares|All Ords, All Ords| Oz mining, Oz mining| Global Mining? It’s all getting a bit Bayesian. The answer to the original question is clear from @sean’s analysis. There is no evidence that the govt mining super tax announcement impacted negatively (a week later) on Oz mining company market value.

]]> By: Stubborn Mule http://www.stubbornmule.net/2010/05/the-australian-resources-tax/comment-page-1/#comment-7630 Stubborn Mule Sun, 16 May 2010 06:03:56 +0000 http://www.stubbornmule.net/?p=2903#comment-7630 <strong>Danny and Paddy:</strong> both suggestions are good ones. I suspect the best global mining index would be a currency-hedged one rather than just converting the HSBC US$ index to A$ (currency movements would add a lot of extraneous noise I suspect). Given that my access to financial data is not as great as it once was, I would welcome a guest post on the subject....any takers? Danny and Paddy: both suggestions are good ones. I suspect the best global mining index would be a currency-hedged one rather than just converting the HSBC US$ index to A$ (currency movements would add a lot of extraneous noise I suspect). Given that my access to financial data is not as great as it once was, I would welcome a guest post on the subject….any takers?

]]> By: Paddy http://www.stubbornmule.net/2010/05/the-australian-resources-tax/comment-page-1/#comment-7629 Paddy Sun, 16 May 2010 05:50:33 +0000 http://www.stubbornmule.net/?p=2903#comment-7629 Given the size of the metals and mining sector (BHP > 12% ASX) it might be worth comparing to the ASX300 ex-metals and mining, and as Danny has said, control for the globalmetals and mining beta by considering a global index (ex Aussie Stocks). Note also that some portion of the devaltuation of metals and mining may have occured prior to the announcement - a resource tax had certainly been discussed for Henry. Finally, The resourse stocks have not fallen to the full extent exected by the analysts - this is probably due to the risk that the tax will not get up in its current form. Given the size of the metals and mining sector (BHP > 12% ASX) it might be worth comparing to the ASX300 ex-metals and mining, and as Danny has said, control for the globalmetals and mining beta by considering a global index (ex Aussie Stocks).

Note also that some portion of the devaltuation of metals and mining may have occured prior to the announcement – a resource tax had certainly been discussed for Henry. Finally, The resourse stocks have not fallen to the full extent exected by the analysts – this is probably due to the risk that the tax will not get up in its current form.

]]> By: Danny Yee http://www.stubbornmule.net/2010/05/the-australian-resources-tax/comment-page-1/#comment-7621 Danny Yee Fri, 14 May 2010 13:11:54 +0000 http://www.stubbornmule.net/?p=2903#comment-7621 You could test whether the sector would have out-performed even more without the RSPT by comparing its performance against something like the HSBC Global Mining Index (in AU$). You could test whether the sector would have out-performed even more without the RSPT by comparing its performance against something like the HSBC Global Mining Index (in AU$).

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