Please re-read my pots..you will note that I did not mention the product.
BTW I don’t feel threatend by it, why would I?? I’m not a lender and I don’t work for a bank.
To be honest: I actually think it is on of the most hilarious things I have ever seen….I can’t believe the number of punters that jump to the defence of this thing when it doesn’t have legs and has gone no where for 6mths.
How can you possibly talk about “Duty of Care” and then reccomend a product that is under investigation by ASIC….do you value your Finacial Advisor status in any way??…or does it more reflect the fact that being a “registered”Finacial Advsior really does not mean much??
Rob..good points raised…and yes it “possible” to use the structure they have except that no real investor will ever put money into to fund the machine (ie into the area you did not see)….hence the problem and the product starts and stops there.
I agree …lets leave it there until there is a definative outcome.
Rob didn’t I try to warn you a few months back about throwing your credability down the drain by attaching yourself so firmly to the group in question…even you must realise that a little bit of caution at that point would have been prudent !!
I’m the first to admit that I would love to take out an interest free loan but I know it just ain’t gunna happen
You are both right….low docs loans are an asset lend…if the lender gets it wrong then they just sell up the property and with the equity availiable they will be cool.
Journos typically get a press release from somebody and then add a couple of line at the the top and the tail of the story to make it thier own work…..unfortunaltey the lines they add are incorrect 99% of the time and detract from the original story.
A certain Australian Financial Paper is probably the worst on this front.
I have re-read my post and from what I can see I’m not saying that University professors need ASIC accrediation.
What I did say (which you seem to be avoiding or you just plain can’t understand) is that if these supposedly “worthless” (your view, not mine) licences are so easy to get, then why don’t these gurus get one, and then get back to work without this continual cloud over their head.
Can I ask your view on unlicenced doctors, unlicenced commercial pilots and unlicenced builders???
Surely “jumping through a few hoops” is pretty inconvient for them also…lets cut them some slack why don’t we.
Learnigtoinvest…can I suggest that you read all the threads on this topic…you will find that certain posters seem to be way too pro these courses for my liking and far too quick to dismiss the rulings and advice from ASIC in relation to these courses.
I have made my feelings known about this topic and I don’t want to go over old ground…..but I suggest you do your homework before commiting to anything in this area.
Ok Perry …given you seem so depserate to get my opinion (but in the next breath, you deride my views) here is my take on what, when and where for ASIC stepping in on forums like this.
If a forum or a person’s website oversteps the mark then ASIC has the right to step in.
If you don’t like that fact then either vote out our current govt and start a new politcal party who’s mandate is to allow unfetted investment advice from every Tom, Dick and Harry
or
Move to some 3rd world country where banking and investment laws are more friendly towards shonks….Nigeria would be my 1st recommendation.
Hopefully that makes my position (and ASIC’s) on this point clear for you.
In case you are wondering….I really don’t need your feedback on this point if you disagree.
As Wayne L said…if you can’t get your head around delt, gamma etc …the stay the hell away from options…if you can’t understand these very basic principals, then you are a chicken about to walk into Kentucky Fried !!!