Regular periodic contributions in equities can generate spectacular wealth especially over the long-term. The following chart shows the power of regular contribution. The difference in returns is indeed astonishing due to the regular investing and the effects of compounding:
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Source: Vanguard Australia
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On Aug 12, 2022 Chinese state-owned oil major PetroChina Company Limited (PTR) announced plans to delist its ADS from the NYSE. The depository BNY Mellon has published the termination notice. According to this notice, the ADR will be terminated effective Monday, Oct 17, 2022. An excerpt from the notice:
Under the terms of the Deposit Agreement, you have until at least Friday, October 20, 2023, to surrender your PetroChina ADRs for delivery of the H shares. If you surrender ADRs for delivery of the H shares, you must pay a cable fee of $17.50, a cancellation fee of up to $5.00 per 100 ADSs surrendered, and any applicable U.S. or local taxes or governmental charges. Payment should be made payable to The Bank of New York Mellon.
Subsequent to Friday, October 20, 2023, under the terms of the Deposit Agreement, the Depositary may attempt to sell the H shares. If the Depositary has sold the H shares, you must surrender your ADRs to obtain payment of the sale proceeds, net of the expenses of sale, any applicable U.S. or local taxes or government charges and a cancellation fee of up to $0.05 per ADS.
To surrender your ADRs, the address of the Depositary is: The Bank of New York Mellon, 240 Greenwich Street, Depositary Receipts Division – 8th Floor, Attention: Cancellation Desk, New York, NY 10286. Registered or overnight mail is the suggested method of delivering DRs to the Depositary.
Source: BNY Mellon
PertoChina H shares trade on the Hong Kong Stock Exchange under the ticker 0857.HK.
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The average bull market in Australian equities lasted for 65 months and the average bear market lasted for 14 months based on Australian All Ordinaries Index returns from1970 to end of June, 2022. The average bull market return was 157% and average bear market decline was 29%.
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Source: Market Insights, Bull and Bear, July 2022, BT
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Healthcare spending in the US is the highest in the world. On a per capita basis the US spends more than any other OECD country as the below chart shows.
In 2021, the US spent $12,318 per per person in healthcare spending. The second highest among OECD countries was Germany at $7,383 followed by Switzerland. The OECD average excluding the USA was $5,829 per person. Hence the US spending was more than double that of the OECD average.
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Source: HOW DOES THE U.S. HEALTHCARE SYSTEM COMPARE TO OTHER COUNTRIES?, Peter G.Peterson Foundation
The chart below shows the total returns for major asset classes for the past 30 years from 1993 to June 2022 from an Australian market perspective. The chart again proves the importance of diversification. Only in rare occurrences, have the winning asset in one year is also the winner the following year.
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Note: Returns shown are in Australian currency and 2022 data is till June, 2022
Source: Vanguard Australia
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