A leveraged cash cow
ANALYSIS: The owners of Fisher Funds borrowed to the hilt to buy Kiwi Wealth. With KiwiSaver money rolling in, the lenders are making mint.
A few years ago, billionaire Graeme Hart gave a speech to Otago University students in which he offered some business advice.
“Be bold,” he said. “That means buy as big as you can, borrow as much as you can, and then work the asset as hard as you can.”
It worked for him. If you get it
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