Farewell from WW

[greedy2000]

I guess you must have bought several properties 10yrs ago when it was a great investment back then?

Mate I'm only a young bloke, I wish I'd bought several properties 10 years ago, but as a Year 12 student then, I doubt they would've lent me any cash.

I'd say I'm one of these Gen Y guys who says buying a house is too expensive, but instead of whinging about it like most do, I've devoted a lot of time and energy into educating myself and then renting and "actively" Investing the difference.

FYI did such a good job on the self educating and trading, that I landed a job as a stock broker.

 

[oracle]

Mate I'm only a young bloke, I wish I'd bought several properties 10 years ago, but as a Year 12 student then, I doubt they would've lent me any cash.

I'd say I'm one of these Gen Y guys who says buying a house is too expensive, but instead of whinging about it like most do, I've devoted a lot of time and energy into educating myself and then renting and "actively" Investing the difference.

Mate, you are not the only one regretting not being able to buy properties 10yrs ago. Unfortunately, the reason many didn't buy up then was because they felt property was expensive and unaffordable in those days. The same reason many are giving now for not buying.

There is a lesson to be learnt if you followed the history of property values.

FYI did such a good job on the self educating and trading, that I landed a job as a stock broker.

Good work!

Cheers,
Oracle.

 

[Bill.L]

Oracle,

Unfortunately, the reason many didn't buy up then was because they felt property was expensive and unaffordable in those days.

Also, when you go back 10 years, the high interest rates from the 89-90 period were still fairly 'fresh' in peoples minds. A return to those 15-18% interest rates were considered very possible and kept people away from property. Even in '95 rates had gone back up quickly to ~12% which was really fresh in minds.

It has really only been in those last 10 years that the fear of 15-18% interest rates in the near future has waned. The longer we have gone through this decade, the less possible those types of rates seem in the future.

Of course this is all wayyyy off topic.
bye

 

[oracle]

Oracle,



Also, when you go back 10 years, the high interest rates from the 89-90 period were still fairly 'fresh' in peoples minds. A return to those 15-18% interest rates were considered very possible and kept people away from property. Even in '95 rates had gone back up quickly to ~12% which was really fresh in minds.

It has really only been in those last 10 years that the fear of 15-18% interest rates in the near future has waned. The longer we have gone through this decade, the less possible those types of rates seem in the future.

Of course this is all wayyyy off topic.
bye

But Bill that still did not stop many investors from investing in property? They are all laughing all the way to the bank. There will always be an excuse not to invest.

But you are right. This is all wayyyy off topic.

Cheers
Oracle.

 

[tcocaro]

I agree that some people do aim for self promotion by placing a signature link to their website however the problem is one of disclosure. For example me as a developer is it better I don’t disclose my company details or not?

If I post something along the lines of "I think suburb X is great" with no signature and then someone points out I am developing in that area is that any better? I think this is worse. The problem is many people on a "property investors forum" has some skin in the game and hence run a business etc. It’s important this is disclosed and it’s not enough to have it simply listed on the details page forcing everyone to, look you up, every time you post.

I subscribe to the "smell factor" approach for such matters. If say an agent/poster has his company site in a signature and posts day and night on the where to buy thread and simply suggests those places he has listings then this "smells wrong".

As a developer I simply avoid the "where to buy" thread altogether for this same reason namely because I get attacked enough as it is with claims of bias on the economic threads!! so I can just imagine the where to buy thread. However generally speaking I think we also have to remember that if we become too narky then those with true experience in property and have (in my view) value to add in discussion will simply stop – and without the fanfare of a silly farewell post.

This brings me to WW and Dazz. WW has attacked me more times I would like to remember on a personal and professional level. I think he is just very passionate in his views and lets his fingers typing get the better of him which leads to insults but this is no excuse. I get “heated” sometimes too but I don’t attack in a way that can be seen as overly personal or against his livelihood (I try not to). I think his posts are better researched than most but he cannot tolerate an opposing view. In his mind I am a biased developer out to get newbie investors (I am paraphrasing from his own words) and once the discussion reaches that point then there is no point. If he does come back I welcome it so long as he takes a chill pill.

Why not just moderate all forms of self promotion.

That is all links in signatures that point towards their website or business, posts that suggest they PM them for more information or other posts that could be deemed as plugs. If the users is a constant repeat offender just ban them.

Plus it removes the conflict of interest in posts and gives people more helpful, less loaded information.

 

[redwing]

I'll miss Dazz's posts, I learnt a lot from him.
However I won't miss WW, he is just a bully with no time for other peoples opinions, who has become more aggressive in the last few weeks. I'm glad he's gone.

Really!?

I must be Obtuse as I missed that

Mate I'm only a young bloke, I wish I'd bought several properties 10 years ago, but as a Year 12 student then, I doubt they would've lent me any cash.

I'd say I'm one of these Gen Y guys who says buying a house is too expensive, but instead of whinging about it like most do, I've devoted a lot of time and energy into educating myself and then renting and "actively" Investing the difference.

FYI did such a good job on the self educating and trading, that I landed a job as a stock broker.

What's life like as a Stockbroker?

More interested in how you've "actively" Invested the difference as it's a great strategy if all goes well (like any investing strategy) but am still interested in the first query also as partb of the continual improvement quest i'm on

 

[greedy2000]

What's life like as a Stockbroker?

More interested in how you've "actively" Invested the difference as it's a great strategy if all goes well (like any investing strategy) but am still interested in the first query also as partb of the continual improvement quest i'm on

Essentially I was given this criteria by my wife:

“You can do whatever you want, as long as it doesn’t cost us anything and you don’t lose us any money”, yeah okay…

This ruled out an investment property or a traditional geared share portfolio. So after a long time searching for, essentially a positively geared investment from day one. I settled on Options trading as my way out of my day job. I spent a lot of time educating myself on all the options strategies out there, paper traded my strategy and made sure I knew my investment vehicle inside out before I placed a trade.

Started off small and ramped it up over time (borrowed $100K initially). Made a lot of mistakes but I’ve learnt heaps as a result.

Eventually ended up spending more time trading and watching the market than actually doing my job, so when I saw the opportunity to become a stockbroker I grabbed it with both hands as I really enjoy trading full time. It’s taken a while to build up a client base but it’s been worth it. A lot of anxiety managing other peoples money but you get used to it, makes you a better more conservative trader as a result (I now know why a lot of brokers did a lot of cocaine back in the 80s).

My biggest tip for traders is “the best way to prevent a loss on the share market, is to not actually own any shares”. Options trading, fits this thinking well and at this stage I personally don't own any stocks at all.

In terms of how well I done over time, when I started trading in Sept 2008 the XJO was 4700, as at today, 26 months later the XJO is ~4666 so if I had just invested in an index fund or managed fund I’d have grown my funds by essentially 0% (not including the lost interest expense and management fees). But with Options trading I’m up almost 80% over the same period. Essentially I’m at a point where I can consistently make $3 – $5K a month after costs. And it’s met my wife’s criteria as I haven’t spent a single dollar from my pay check funding the interest.

 

[evand]

I love Warren Buffets take on stockbrokers:

"Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway"

Dead set classic!

 

[dan c]

Essentially I was given this criteria by my wife:

“You can do whatever you want, as long as it doesn’t cost us anything and you don’t lose us any money”, yeah okay…

This ruled out an investment property or a traditional geared share portfolio. So after a long time searching for, essentially a positively geared investment from day one. I settled on Options trading as my way out of my day job. I spent a lot of time educating myself on all the options strategies out there, paper traded my strategy and made sure I knew my investment vehicle inside out before I placed a trade.

Really? So an investment property loses money but option trading doesn't?

I assume you mean cost money (by negative gearing), instead of lose money. Plenty of people have lost money trading options.

 

[Sim]

Guys, this trhead is getting very off topic (not that it really had a topic in the first place). I suggest you look at starting a new thread if you want to continue talking about other stuff ... before this one gets locked.

 

[Indifference]

Based on what I believe are unreasonable moderator decisions today, and the moderator's unpreparedness to explain himself, I am exiting the forum permanently. I think this is an outcome that will be to the approval of at least one moderator.

If I could leave you with one piece of advice. IMHO, tHere will be more gain in timing the market than buy and hold over the next 10-15 years.....which I suppose puts me at odds with Jan Somers' philosophy.

Onwards and Upwards everyone.

Guys, this trhead is getting very off topic (not that it really had a topic in the first place). I suggest you look at starting a new thread if you want to continue talking about other stuff ... before this one gets locked.

Perhaps all involved could use a little perspective:


Talking is a hydrant in the yard and writing is a faucet upstairs in the house. Opening the first takes the pressure off the second.
Robert Frost


Disclaimer: I apologize for this outburst of rationality...*sigh*... I just felt compelled.