Forum Replies Created

Viewing 20 posts - 201 through 220 (of 561 total)
1 … 7 8 9 10 11 12 13 14 15 … 29
  • Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    September 13, 2004 - 8:00 pm
    Originally posted by wezwaz:

    We did get off topic there for a while.

    Brenda, you make some good points re expenses, prep and so on. However, I reiterate we need to drop this idea that information has to be expensive to be worth anything.

    Following are some quotes from Alexander Elder directed to share traders, but they could apply equally to property investors. He is highly respected in the field of share trading.

    “My second rule is to avoid very expensive services, be they books, advisory letters, or seminars. A $200 newsletter is likely to be a better value than a $2,000 one, and a $500 seminar a better value than a $5,000 one. Merchants of super-expensive products sell an implicit promise of “the keys to the kingdom.”
    “An obscene price is a marketing gimmick that conveys a subliminal message that the service is magic. There is no magic – no-one can deliver on that promise. A relatively inexpensive service is a bargain when it’s good, and a cheap loss when it isn’t.”
    “People want to believe in magic, and if that magic can also save them from working and thinking, they gladly pay good money for it.”

    This is well put. Having spent time in share trading circles I know this to be the case. I have seen it in action.

    Wez.

    The most valuable information I ever received about trading was for free…likewise, the stuff I have learned about property investing (though largely untested at this stage) was for free as well…from people like you all who give information so generously.

    I return the favour when and where I can. (someday I will finish my excuse for a website):)

    Cheers

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 11, 2004 - 2:55 pm

    >> “They still have a pissily small official interest rate. Why do the Americans make such a big deal of everything?”<<

    Bear in mind that this is not the rate the consumer pays:

    U.S. weekly mortgage index off 0.7% By Rex Nutting
    WASHINGTON (CBS.MW) — Applications for mortgages in the U.S. declined slightly last week, the Mortgage Bankers Association said Wednesday. The weekly application index fell 0.7 percent on a seasonally adjusted basis. It’s down 24.2 percent from a year ago. The index for purchase loans fell 2.7 percent while the refinance index rose 2.5 percent. The rate for a median 30-year fixed rate mortgage fell to 5.80 percent from 5.97 percent a week earlier.

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 9, 2004 - 12:49 pm

    Hi all,

    Yes, the authors views are obviously being used to flog a gold coins, so a bit of healthy cynisism is warranted.

    The interesting thing to me is this. When depressions or market crashes happen(there have actually been 3 great [to use the standard adjective] depressions since the industrial revolution), folks are usually at a loss as to what actually caused them. So despite the best efforts of governments and central banks, they may occur anyway.

    We currently have several possible triggers. War/terrorism, oil prices, demographics, etc.

    I think Soja has made a very good point. A depression is not Armageddon and though an altogether unpleasant eventuality, they provide a springboard for growth. A bit like a good pruning.

    I had one grandfather who was employed throughout the depression and the other was unemployed for some time (this was in NE England) But people survived and did what was necessary at the time.

    I think that it is smart to accept that a depression is *possible* at least, and to have contingency plans in place.

    Gold coins? Dunno about that one, but some plan nevertheless.

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 6, 2004 - 2:52 pm
    Originally posted by kay henry:

    Thanks wayne…

    Can I ask wayne… are you into the kinds of theories he’s discussing or the way he discusses them?

    kay henry

    Hmmmmm. As it says in the article, economic sytems are extremely complex. So complex that you can pretty much make a case for just about any eventuality.

    The bulk of evidence from non mainstream sources (i.e. not the Wall Street Cheerleeding Squad, or the Guv’ment) points to some trouble on the horizon.

    I believe in covering ones arse, and a perpetually bullish attitute can be a financially fatal in the event of a deep recession/depression.

    So just trying to get some balanced thinking and discussion going.

    Cheers

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 6, 2004 - 2:32 pm

    >>once I float it<<

    PS I do happen to have a few contacts, and just for you, I’ll get out of my jamys and go and do a few hours work in exchange for a measly few hundred thousand shares [:D]

    Cheers

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 6, 2004 - 2:24 pm

    LOL! I surrender!

    I can’t posibly compete with anyone who can write a post that long!!! Hahahaha!

    Sharetrading is crap, it’s gambling, causes grey hair, ulcers, divorce, diabetes and baldness!!!

    UNCLE!!!!

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 6, 2004 - 12:44 pm

    Hey Westan,

    I haven’t really followed Lowey et al. But I suspect that their billions weren’t strictly from property investing (in the context that we here practice property investing) either. It is also in the practise of running a business, publically listing, development and other corporate toings and froings.

    This is also a path littered with the rotting corpses of those who have failed. I believe the failure rate of property developers is somewhere above 90%. (Quoting from memory only)

    There are no share “traders” in the rich list because sooner or later you run into liquidity problems trading great size, most particularly in australia.

    Also trading isn’t really investing. It is a business. A trader removes profit from his account for living expenses etc, limiting the full compounding effect.

    I don’t think anyone aspiring to the “rich list” would choose trading in any case. Not my cup of tea. I could think of nothing worse than living that lifestyle (except perhaps abject poverty!!)

    A few hundred k a year would do me just fine!!

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 6, 2004 - 8:32 am
    Originally posted by Aceyducey:

    Honesty is the best policy.

    Being ‘nice’ primarily means to me saying what people want to hear.

    What people want to hear isn’t necessarily what they need to hear.

    Cheers,

    Aceyducey

    In theory, there is no difference between theory and practice. But, in practice, there is.

    – Jan L.A. van de Snepscheut

    To me “niceness” and “honesty” are two separate virtues.

    You can be nice as you tell people what they need to hear.

    My wife does this all the time when she tells me (nicely) that my taste in in my arse and that I should reconsider my choice of clothing! Something I *need to hear as I am getting dressed to go out! Hah!

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 5, 2004 - 7:01 pm

    Posted tonight on reefcap by N40K

    “Gambling is a tax for people who don’t understand Maths”

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 5, 2004 - 3:10 pm

    Yeah good post Kay!

    “never be bitter- it’s one of the worst things in life.” wise words!

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 5, 2004 - 2:52 pm

    >>Sorry I can’t write that long, but comparing share trading to gambling is cowpoo.<<

    LOL I love it!!

    Mini, here is some of my scribblings on trading and gambling.

    http://tradingforaliving.netfirms.com/article_2.htm

    It sounds like your “friends” are merely gamblers who are using the market as a casino.

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 5, 2004 - 2:24 pm

    Hey I’ll help out here LifeX!

    A bit of a Pollyanna myself…always wanting to believe in the goodness of people.

    Still you can’t help but aquire some hard won cynisism as you go along hey.

    Cheers

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 5, 2004 - 2:05 pm

    Sorry, I feel compelled to comment on this doosie:

    >>Shares are stressful (because of the risk.) burnout, grey hair, suicides, bankrupt – don’t know too many property investors with those conditions, but there sure are a lot of shares casualties.<<

    What ‘BS’ hollywood movies have you been watching?

    Come and spend a week with me Mini! You may get bored but you’ll see how low risk it is!

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 5, 2004 - 1:46 pm
    Originally posted by MiniMogul:
    feel free to argue away

    Nah! It would take too long to firstly correct the misconceptions.

    It’s funny to note the proselytising fervour on both sides of the fence.

    Who really cares anyway, as long as what we do puts groceries on the table plus a few frivolities.

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 4, 2004 - 1:50 pm

    Just going to pains here to say that I am a believer in property investment. That’s why I hang around here.

    Not bagging it folks OK!

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 4, 2004 - 12:28 pm

    Yack,some questions for you.

    1/ you say you turned 10k into 500k since 1997, a return of 5000%. Do you think you can now turn this 500k into 25 million in the next seven years? If not why not?

    2/ Do you think you could turn 10k today into 500k in 2011 using the same strategies? If not why not?

    3/ What is the nett bottom line return of this 500k equity and could you maintain your present lifestyle without selling any assets? If not how much equity would you need to fund your retirement?

    4/ Some economists are signalling a major deppression starting at some point in the next decade (let’s leave aside whether they are right or not for now) If this eventuates, how would your strategy stack up? What effect would this have on you retirement income?

    Cheers

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 4, 2004 - 7:01 am
    Originally posted by yack:

    <<<Lets have a good example if you had put your $10000 in caltex in may last year it would be worth 4.5 times more or $45000>>>

    Did you buy caltex in may last yr? Probably Not. So Caltex is one stock out of 10,000 stocks or whatever it is. But a trader would have bought and sold before they received the 4.5 times return.

    Not necessarily Yack. Some of the folk over at reefcap.com did buy it last year and are still holding.

    I don’t see why you feel the need to justify your investing desicions by critisizing other folks methods. Just let them be. I’m more than happy being a trader, and I’m more than happy that you have done well with property.

    Each has their day in the sun!

    Cheers

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 3, 2004 - 7:22 am
    Originally posted by Erika:

    Hi All
    with shares you can have guranteed stop loss points.
    Erika

    Where do I find one of those? Are you talking CFD’s or ordinary shares?

    With ordinary shares, there is no stop loss which will save you from a big gap or delisting.

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 3, 2004 - 7:05 am
    Originally posted by Monopoly:

    Well I may get shot down for this; but “frankly Scarlet I don’t give a damn”!!!!

    I have to agree Somersoft is much friendlier, the posters there are “open minded” and people don’t pluck theories out of the sky!!!! Like Acey said, people back up their information.

    This place conveys a “fear of damnation” feel about it. You have to watch EVERY “p” and “q” with rigour, and (for me) being a moderator was even worse!!! (Any moderators reading this, back off; I said “for me” so don’t even go there)

    The chatroom facility is great, you can communicate directly with those in the room, share ideas, clarify any misunderstanding then and there before they get blown out of perspective, and you can have fun at the same time.

    The only reason I tend to come back here, is unfortunately, as great as Somersoft is, navigation around the site is not as simplistic as PI.

    Although I do agree with most, that both Somersoft and PI work well together in providing “different” opportunities and ways of discussing property investing.

    There!!!….Okay go on…..Hit me!!!![blush2]

    Jo

    But Monopoly! You’re a property Bull! Ahahahaha!!!

    Acey,

    We have differing perspectives, and never the twain shall meet. No need to get uptight if someone sees it differently.

    Cheers

    http://www.tradingforaliving.info

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585
    August 2, 2004 - 4:06 pm

    Kay,

    But you don’t see that property investment having forced housing out of the reach of low income earners, the disadvantaged, etc, as contrary to this socialist ideology?

    The whole premise of property investing is rising values, rising rents…..hopefully in excess of CPI. Who are we leaving behind here?

    http://www.tradingforaliving.info

Viewing 20 posts - 201 through 220 (of 561 total)
1 … 7 8 9 10 11 12 13 14 15 … 29