Your stratergie to join the Millionaires Club.

I was enjoying your thread CRC. Disappointed that you deleted your posts.

 

I'm not going to share my views in a thread where I get attacked. Its not the first time I have been attacked by Mark.

If we can't share opposing/alternative views without been personally insulted, then I rather not say anything.

Mind you Mark wont share anything with you.. once asked if he would share his 'plan' and he simply stated he isn't going to share anything with anyone other than his "mentor"..

 

I won't provide details of my plan because I'm not willing to post details of my private financial status on an internet message board accessible to anyone with an internet connection. If you want to do that, then go ahead.

Mark

 

Mark, no one is asking for your private details.. but a general discussion is different to specific financial details..

IE my investment plan may involve buy renovate hold redraw buy shares.. you would not even discuss that.. pitty I can't find the old thread to dig it up..

no one is suggesting you post how much cash you have, specific investments details etc etc.

To me your attitude showed you were not willing to share 'your secrets' with others.. which is fine... but you were quick to criticize others plans/ideas when they didn't agree with you.

I have now deleted 'my plan' as I'm also not going to share it with you! and I'm not interested in arguments and personal attacks.

 

Why are people worried about posting specific financial details. If I said I had $x in cash and $y in navra, who would care, and how would having those details on the web put me at any kind of risk?

 

Crc_error,

Don't leave the forum due to one other person upsetting you. There will always be people on forums that pick on anything that they can.

Everyone's contributions are interesting and that's what makes this and other forums worthwhile.

Yes, people make mistakes and may have some incorrect information, but this is how we learn, through others providing up to date information and or different views and opinions. I do agree though, there is no need for personal attacks, it doesn't do anything but downgrade the forum and prevents people asking questions or putting their opinion forward through fear of being "sledged".

Forum are like most information sources these days, take from them what suits you personally, and forget the rest.

Cheers

Bundy

 

Disappointing. I was interested in your approach because you obviously have a better grasp of working through and understanding managed funds than I.

I'm sure other's here are happy to discuss strategies with you, that may be of benefit to the majority.

 

Voigtstr

In most cases it wouldn't make any difference because people today use OPM (other people's money) so our funds are borrowed from a bank anyway.

However, I understand where Mark is coming from.

Most people posting in a public forum would be withholding their true identity and perhaps Mark isn't doing this so I can understand why he would want to be cautious on disclosing personal financial information.
I believe he also doesn't want to be blamed for giving advice.

Cheers

 

CRC

I know that at times you've expressed a different point of view (as I do) and I often find your posts interesting and thought provoking and so are some of the replies you get from other members so overall I think your contribution to this forum is good and IMHO welcome.

Don't read too much into a post.

I have spent several years posting in forums and I also have at times unknowingly and unintentionally annoyed or offended people so I know how easy it is to get on someone's nerves and to suddenly feel that you are under attack.

Mark is also an interesting and thought provoking character, I have also argued with him on SS in the past on a couple of occasions and on something which I thought it was black and white and he thought it was black and blue

We all have different ideas and opinions and that's what makes the world an interesting place

Don't take things personally, Mark probably had a bad day and was not talking for all of us here anyway.

Remember, it's very easy to misinterpret someone else's post and therefore we should all (myself included) try our best not to be too critical of others and to avoid personal attacks.

IMHO

 

Young Gun,

3% to 5% per month. Is that realistic? I must confess to knowing very little about trading options (apart from what I picked up from a couple of spruikers’ information evenings).

Anyway, I had imagined that the volatility would be greater and the overall profits would be somewhat smaller (ranging from, say, -3% to +5% with an average profit of roughly 2%).

Can you shed any light on your trading skills and how you attained them? For me, I’m just a BS negatively geared property investor seeking new income streams.

Regards - Ben

 

D&K,

Your strategy closely resembles mine. I bought three cf- properties in Melbourne last year and have extended my servisability to the absolute limit (and beyond). So, for now, I’m just putting the rents up and drip feeding OPM from my line of credit into Navra so as to improve cashflow and wait for the rising property tide to increase my equity.

Like you, I have my sights set on $2m equity - not sure I’ll ever sell the real estate though.


Regards - Ben

 

I'd like you to point out where I 'attacked' you. Saying that I will no longer converse with you is not an attack. You want to talk about attacks? Okay, this is the second time I've made the decision to no longer acknowledge your presence on the forum. My reasons for doing this are much the same as the first time:

- you consistently make statements about investments that are incorrect
- you've made snide remarks against not only myself but other forum members when they disagree with you or say something you don't agree with

As Bill stated, I've gone toe to toe with him (and many other people) both on here and on Somersoft. I don't do it to stir, I do it because I enjoy a vigorous debate. I don't like 'yes men' I like to see lots of different points of view because it allows me to learn new things. Just ask WinstonWolfe on SS. We've gone at each other a number of times, but we are still on friendly terms and I have a lot of respect for the guy. Opinions of all kinds are perfectly valid and I encourage people to speak up. I wish more people would speak their mind.

What makes me not wish to converse with you is your attitude that you are always right and if someone doesn't agree with you, they don't know what they're doing. Then when I challenge you, you don't stand up for yourself, instead you go and spit the dummy and delete all your posts in two threads and blame me for your childish behaviour.

Mark

 

Mark, I deleted all my posts in 1 thread (this one), not two, and they were the posts you referred to over the 'last few days'. Since those posts reminded you how you should ignore me, then I deleted them. You had no arguement or view to express, alternative to mine, you simply hijacked this thread personally attacking me. I welcome debate and thoughts, that was the reason for this thread, but instead you had no useful contribution to make.

You now continue your attack by accusing me of beeing childish.. the attacks continue. No one here cares if you choose to ignore me, and its certainly not contributing to the topic of the thread. Really the post should have been deleted as off topic.

- you consistently make statements about investments that are incorrect

I don't claim to know everything, and if I do make a incorrect comment, I'm happy to be corrected. Which comments did I make in this thread that were incorrect? Just because you don't agree with me, doesn't make my views incorrect.

- you've made snide remarks against not only myself but other forum members when they disagree with you or say something you don't agree with

Would you like to point those snide remarks out to me? Or are you now making up more rubbish to justify your attacks?

Debate is part of this forum, and if you view debate as been snide just because I don't agree with some posts, then I suggest you stop coming here. No, you don't encourage debate, you discourage it with your personal attacks.

 

I have tried this Strategy, and have found that in the end, you loose out. I was doing well with writing covered calls against LGL, and then one day the stock falls from $4.20 down to $2.20 (today). Then you have just lost all the last 12 months call premium you have received and more.

Problem with covered calls is you limit the upside, yet you have exposure to all the downside buy holding the stock. You may as well just write naked puts, same risk. At least your holding cost is lower as you don't need to pay interest on holding stock (if its on margin or equity).

I have found with options, all is calculated at a 50/50 chance of winning, so in the end you loose in brokerage and buy/sell spreads.

 

Thanks mate. I was just sharing what I have read and conclusions I have made. I'm no expert in managed funds, but I think I have fine tuned something which suits me for the moment. I'm happy to learn from others, and if something comes up which I like, I can implement it as well, or something I say may get someone else to try something new.

My approach is more of a set and forget system. Sure if you want to devote more time, and trade shares, or develop property you will make more money quicker, but I have found that these active strategies don't necessary mean greater profits. I'm not saying you can't make more, I'm just saying that a passive approach can also be profitable..

I have experience in renovating property, I renovated a house, was part of a $200,000 renovation on a old art deco apartment block of 12, and have tried various things in the stock market.. options, shares, margin lending etc etc..

After all that I have learned that the passive approach is usually the best. For example, I did make money doing renovations, but I made allot more money holding the property long term. I made a mistake by listening to doom and gloom merchants saying property is over valued, interest rates going up, etc etc and the sky will fall.. then I sold my 3 properties in 2005, and since then the capital growth has continued adding $400k to their value since I got out. I lost money in transaction costs, taxes etc and future capital growth. I should have have just held!!!

Same with shares, personally I have not been able to pick tops and bottoms, usually selling out at bottoms, giving away future growth. I would have been better just buy, build and hold managed funds! with regular contributions to take advantage of discounts in the market!

From this I have come up with a passive investment plan, which I posted here.. and its one I think will work over the long term..

When people like mark insult people, it only discourages the positive vibe, hence leading to me not wanting to share my experiences. Mark claims I'm childish, but he is the one saying "I'm not talking to you and will ignore you" so go figure.

I'm happy to debate mark, and a while back I did debate him. Mark likes property, and cant see past it. I believe you can get a similar result as property via gearing managed funds. I can see the benefit of property, hence why I bought a house earlier this year (as a result of some of these debates), but I don't believe I should continue to buy more property, as serviceability erodes the benefit of deprecation and the potential high LVR of property.. once you loose these two benefits, you may as well continue to build a managed fund portfolio.

I'm doing very well with my new IP purchase, its already gorn up 8% in the last six months, despite all the doom and gloom out there.. I plan to redraw 80% of this new equity once 12 months comes, and will use this equity to build further my managed funds position.. the increased loan will be supported by increased rent, and managed funds dividends.

 

Sim, did you end up back where you started there?

If I can offer another way of looking at. You are attempting to get a loan, so your options might be to say to the lender:

A. I sell down my growth funds every quarter to help with my cashflow; or
B. My income fund pays a dividend quarterly that helps with my cashflow.

Even if the growth fund grows more than you draw out (hopefully true), it sounds like you're selling down assets to cover interest payments. Whereas the income fund sort of gets accepted, once you've got a few year's history. Interesting when you think the only real difference is whether you or the fund manager is doing the selling down.

... and for me it's simpler not needing to be concerned about which fund is paying commissions to which other fund and wondering what will be left .

Dave

 

CRC, welcome back.

I like property too, probably why I like to simplify the shares / MF side. Getting frustrated with the slow pace of passive investment, I've been contemplating a more active renovation approach. It seems everyone made money from renos in a rising market (and they would have regardless of what they did), but your experience seems more what I suspected would happen with this strategy now.

Cheers, Dave

 

Ben,

I think the real reason for considering selling the IPs is that after my wife and I have 'enough' growth through the maximum leverage with property, we can proabably do without managing our property managers and every other little hassle like smoke detector checks, etc. Shares / MFs definately looks better from a hassle free perspective, and it more flexible for living expenses when you just need to sell down a few 1000s.

Maybe we're personally having a low point with management hassles this month!

Of course, to reduce CGT, the selling down will need to take several years.

Dave

 

I don't know if crc's removal of all posts is 'childish' but it's a negative use of energy which could be much more profitably employed. Mark's 1-liner asking crc when he would spell 'strategy' properly was probably childish, and fortunately didn't end up in crc retaliating by pointing out all Mark's spelling mistakes. ("you're" needs an apostrophe in it when used in the context of 'you are' by the way!)

At the end of the day who has enough time to carry on an online vendetta or pick on spelling or take things too personally - stay on opposite sides of the playground guys, and let everyone else play at lunchtime without watching that sort of carry-on. There's plenty of other forums if you want to have a scratching and biting contest.

May the positive force be with you and your investment journey. Cheer up !