Steven Hawking's Tutor
Posts: 4,995 
Location: Florida, Hurricane Central
Location: Florida, Hurricane Central
March 29th, 2008, 04:19 PM
Quoting Avro
I agree. And it helps the economy because it establishes a clearing price in which to work down the excess inventory.
I have built over half my assets in a similar way, buying homes that people can no longer afford.
It's smart buisness if you ask me.
It's smart buisness if you ask me.
March 29th, 2008, 04:55 PM
Quoting Toro
Good marketing helps drive people to do nutty things too. On Team1040 sports radio in BC these days is an ad that says "Kelowna is the hottest real estate market in Canada. Get in on this secure investment with a guaranteed rate of return of 15%." Where have we heard that before? Reminds me of the hype that Eron made in the 90's before it imploded.
In minor ways, but this would have happened no matter who was the President.
The fault lies at the feet of the Federal Reserve. Plus, there were other factors having nothing to do with government.
The fault lies at the feet of the Federal Reserve. Plus, there were other factors having nothing to do with government.
Member
Posts: 88
March 29th, 2008, 06:46 PM
It's a great way to make a living.
Quoting Avro
Yes it is. It's all about watching the market and going for it when it's time...and never rushing into things.
I have built over half my assets in a similar way, buying homes that people can no longer afford.
It's smart buisness if you ask me.
It's smart buisness if you ask me.
It's a great way to make a living.
Steven Hawking's Tutor
Posts: 4,995
Location: Florida, Hurricane Central
Location: Florida, Hurricane Central
March 29th, 2008, 08:15 PM
People just can't help themselves.
Quoting Kreskin
Oh, yeah. For sure.
Good marketing helps drive people to do nutty things too. On Team1040 sports radio in BC these days is an ad that says "Kelowna is the hottest real estate market in Canada. Get in on this secure investment with a guaranteed rate of return of 15%." Where have we heard that before? Reminds me of the hype that Eron made in the 90's before it imploded.
People just can't help themselves.
March 29th, 2008, 08:43 PM
There is a reason why the S&P500 returned approximately an annual average of 11 or 12 % in the 90's through to '05-ish and yet the average investor recieved about 4%. Chasing yesterday's winners and getting caught in hype is the mistake the average person makes. That's how the big guys make their money. As Warren Buffett said, it's fear and greed. "When people are greedy I get fearful. When people are fearful I get greedy". Right now in Canada there is a lot of hype in real estate and fear of most other assets. We'll see how it plays out over the next few years.
Quoting Avro
I don't think anyone was referring to you Avro. It's great you've done well.
Not sure I should feel ashamed for being smart.
For a Janitor by trade my net worth is sort of sick.
For a Janitor by trade my net worth is sort of sick.
There is a reason why the S&P500 returned approximately an annual average of 11 or 12 % in the 90's through to '05-ish and yet the average investor recieved about 4%. Chasing yesterday's winners and getting caught in hype is the mistake the average person makes. That's how the big guys make their money. As Warren Buffett said, it's fear and greed. "When people are greedy I get fearful. When people are fearful I get greedy". Right now in Canada there is a lot of hype in real estate and fear of most other assets. We'll see how it plays out over the next few years.
No party affiliation
Posts: 1,952
Location: Oshawa
Location: Oshawa
March 29th, 2008, 09:14 PM
On a personal level I look forward to the next year or two.
I'll be poaching some cottages soon.
Pisses me off because I just bought mine in a sellers market.
Quoting Kreskin
I don't think anyone was referring to you Avro. It's great you've done well.
There is a reason why the S&P500 returned approximately an annual average of 11 or 12 % in the 90's through to '05-ish and yet the average investor recieved about 4%. Chasing yesterday's winners and getting caught in hype is the mistake the average person makes. That's how the big guys make their money. As Warren Buffett said, it's fear and greed. "When people are greedy I get fearful. When people are fearful I get greedy". Right now in Canada there is a lot of hype in real estate and fear of most other assets. We'll see how it plays out over the next few years.
There is a reason why the S&P500 returned approximately an annual average of 11 or 12 % in the 90's through to '05-ish and yet the average investor recieved about 4%. Chasing yesterday's winners and getting caught in hype is the mistake the average person makes. That's how the big guys make their money. As Warren Buffett said, it's fear and greed. "When people are greedy I get fearful. When people are fearful I get greedy". Right now in Canada there is a lot of hype in real estate and fear of most other assets. We'll see how it plays out over the next few years.
On a personal level I look forward to the next year or two.
I'll be poaching some cottages soon.
Pisses me off because I just bought mine in a sellers market.
Steven Hawking's Tutor
Posts: 4,995
Location: Florida, Hurricane Central
Location: Florida, Hurricane Central
March 29th, 2008, 10:42 PM
I like to hear when people make shrewd investments.
Quoting Avro
Good for you for seeing a bargain.
Not sure I should feel ashamed for being smart.
For a Janitor by trade my net worth is sort of sick.
For a Janitor by trade my net worth is sort of sick.
I like to hear when people make shrewd investments.
Council Member
Posts: 2,289
March 30th, 2008, 08:21 AM
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Instead of denying help clear across the board, they could examine case by case and help the hard-working and hard-hit immigrants to retain their home. It's traumatic for them and their children! Where would they go? Into public housing? If they can't pay the mortgage, they can't pay the high rent either.
The government wouldn't bail them out for nothing - they have to pay the government back eventually, or how does this bail-out work?
Quoting Toro
As long as you don't over-extend yourself. Read this article in The New York Times:
Good for you for seeing a bargain.
I like to hear when people make shrewd investments.
I like to hear when people make shrewd investments.
Quote:
http://www.nytimes.com/2008/03/30/wa...hp&oref=slogin Homeowners’ Pleas Put G.O.P. Lawmakers in Bind on Defaults
Published: March 30, 2008
HIALEAH, Fla. — In Los Portales, a pink and terra cotta condominium complex in this city of hard-striving Hispanic immigrants and often harder luck, many of Juan Carpio’s neighbors are losing their homes.
But as Congress returns from a two-week recess on Monday for a furious debate over whether to help homeowners on the brink of default, Mr. Diaz-Balart is caught in a crunch of his own.
On one side, Democrats emboldened by the Federal Reserve’s intervention in the collapse of Bear Stearns are demanding help for “everyday Americans.” On the other, Republicans including Senator John McCain, the party’s presumptive nominee, are urging restraint, reluctant to commit taxpayer funds to what they say is simply a bailout for greedy lenders and reckless buyers.
Published: March 30, 2008
HIALEAH, Fla. — In Los Portales, a pink and terra cotta condominium complex in this city of hard-striving Hispanic immigrants and often harder luck, many of Juan Carpio’s neighbors are losing their homes.
But as Congress returns from a two-week recess on Monday for a furious debate over whether to help homeowners on the brink of default, Mr. Diaz-Balart is caught in a crunch of his own.
On one side, Democrats emboldened by the Federal Reserve’s intervention in the collapse of Bear Stearns are demanding help for “everyday Americans.” On the other, Republicans including Senator John McCain, the party’s presumptive nominee, are urging restraint, reluctant to commit taxpayer funds to what they say is simply a bailout for greedy lenders and reckless buyers.
-------------------------------------------------------------------------
Instead of denying help clear across the board, they could examine case by case and help the hard-working and hard-hit immigrants to retain their home. It's traumatic for them and their children! Where would they go? Into public housing? If they can't pay the mortgage, they can't pay the high rent either.
The government wouldn't bail them out for nothing - they have to pay the government back eventually, or how does this bail-out work?
Steven Hawking's Tutor
Posts: 4,612
March 30th, 2008, 08:26 AM
Do those who've been successful in making investment choices owe nothing more than their taxes and fees to the society in which their opportunities have been realized?
Because the wealthy pay more taxes and facilitate money-flow by distributing their money through purchasing more than those who don't enjoy greater wealth would, isn't it far more important in terms of maintaining the climate or "supporting the system" for the wealthy to be as equally shrewd when it comes to influencing social institutions and government?
Or perhaps it's little-fish-big-fish....
The wealtlhy get eaten by the extravagantly wealthy and the whole social strata simply keeps slipping downward.....
When Enron and Prudential and Bear Stearns and and and are revealed as being mismanaged with CEOs earning multi-million dollar salaries while their businesses go broke...isn't the real message that "Hey we don't care about anyone but ourselves and if you lose your home and lose your pension and lose your future...well them's just tough nuugies...."
On the other hand of course the vanishing middle class are trying their damndest to emulate the wealthy because after all perception is everything...and the poor are of course always being the way the poor have been...stooping to theft and chicanery while using drugs to avoid reality....
Oh wait now....I've stumbled on a loop...
Multi-millionaire rock stars and fashion models appear to have little qualms about dumping on everyone and anyone and heaven only knows...drugs are popular....
So maybe the drug abusing cheating poor are in many respects the higher target the wealthy are shooting for...
Strange world.....
Do those who've been successful in making investment choices owe nothing more than their taxes and fees to the society in which their opportunities have been realized?
Because the wealthy pay more taxes and facilitate money-flow by distributing their money through purchasing more than those who don't enjoy greater wealth would, isn't it far more important in terms of maintaining the climate or "supporting the system" for the wealthy to be as equally shrewd when it comes to influencing social institutions and government?
Or perhaps it's little-fish-big-fish....
The wealtlhy get eaten by the extravagantly wealthy and the whole social strata simply keeps slipping downward.....
When Enron and Prudential and Bear Stearns and and and are revealed as being mismanaged with CEOs earning multi-million dollar salaries while their businesses go broke...isn't the real message that "Hey we don't care about anyone but ourselves and if you lose your home and lose your pension and lose your future...well them's just tough nuugies...."
On the other hand of course the vanishing middle class are trying their damndest to emulate the wealthy because after all perception is everything...and the poor are of course always being the way the poor have been...stooping to theft and chicanery while using drugs to avoid reality....
Oh wait now....I've stumbled on a loop...
Multi-millionaire rock stars and fashion models appear to have little qualms about dumping on everyone and anyone and heaven only knows...drugs are popular....
So maybe the drug abusing cheating poor are in many respects the higher target the wealthy are shooting for...
Strange world.....
Steven Hawking's Tutor
Posts: 4,612
March 30th, 2008, 08:31 AM
Dancing_Loon
Vultures and hyenas have been a part of human commerce forever. One man's shrewdness is another mans con game.....
What's happened and what's happening as we speak is that we are witnessing the outcomes of "shrewdness" as exercised by the wealthy for generations. A poor man nudging someone out of place in the line-up at the food bank doesn't make international headlines, but the corruption of the "backbone of America" as practiced by the wealthy does repeatedly.
We owe a great deal to the wealthy.......
Dancing_Loon
Vultures and hyenas have been a part of human commerce forever. One man's shrewdness is another mans con game.....
What's happened and what's happening as we speak is that we are witnessing the outcomes of "shrewdness" as exercised by the wealthy for generations. A poor man nudging someone out of place in the line-up at the food bank doesn't make international headlines, but the corruption of the "backbone of America" as practiced by the wealthy does repeatedly.
We owe a great deal to the wealthy.......
Council Member
Posts: 2,289
March 30th, 2008, 10:36 AM
I once heard of an old man who had invested his savings by buying a tract of undesired land and kept adding to it over the years. He did it for nature, for wildlife and flora. It impressed me very much!
My grandparents of both sides had many children they could hardly feed. The landowners they worked for had once been plunderers and crooks, now they were rich and lived in castles or big mansions. My father told me he never got enough to eat, was always still hungry leaving the table. They lived in little wee houses, with one bedroom, kids slept 3 or four in one bed! On Sundays the landowner would be driven to church in a fancy wagon with four horses. He and his company would sit in the front row on upholstered benches, while the poor workers stayed in the back, standing. The in-between benches were occupied by the families of the teacher, the merchants, the trades people... all the little ranks above the common laborer. My Dad decided then there was no God. Or if there was, he sure didn't care about the poor!
That, Mikey, was changed later by Hitler. And they hated him for it! But the workers rallied behind him, because he gave them some dignity, and most of all hope for a better future. Saving for a car or a house was within their reach finally, after hundreds of years of slavery!
Here is an amusing tidbit my Dad told us at the dinner table:
One day the big landowner came to his workshop (Dad was a wagon builder), and complained that he had received orders to provide proper outhouses for his workers! "For hundreds of years they **** behind the fences, but now they have to have an outhouse!!" he said, and shook his head. Of course, he himself in the castle had proper water toilets, that drained right into the lake!! And so my Dad built outhouses for quite a few dwellings that didn't have one.
There are other examples as well, but I mentioned this one, because I remember it myself.
I wish you a lovely and sunny Sunday, dear Mikey.
Quoting MikeyDB
That's what one gets when living in a free society! The vultures and hyenas are only stopped, if they hang themselves! People seldom regulate themselves and share their good fortune or invest it for the common good.
Dancing_Loon
Vultures and hyenas have been a part of human commerce forever. One man's shrewdness is another mans con game.....
Vultures and hyenas have been a part of human commerce forever. One man's shrewdness is another mans con game.....
I once heard of an old man who had invested his savings by buying a tract of undesired land and kept adding to it over the years. He did it for nature, for wildlife and flora. It impressed me very much!
Quote:
I come from poor peasant stock!
What's happened and what's happening as we speak is that we are witnessing the outcomes of "shrewdness" as exercised by the wealthy for generations.
My grandparents of both sides had many children they could hardly feed. The landowners they worked for had once been plunderers and crooks, now they were rich and lived in castles or big mansions. My father told me he never got enough to eat, was always still hungry leaving the table. They lived in little wee houses, with one bedroom, kids slept 3 or four in one bed! On Sundays the landowner would be driven to church in a fancy wagon with four horses. He and his company would sit in the front row on upholstered benches, while the poor workers stayed in the back, standing. The in-between benches were occupied by the families of the teacher, the merchants, the trades people... all the little ranks above the common laborer. My Dad decided then there was no God. Or if there was, he sure didn't care about the poor!That, Mikey, was changed later by Hitler. And they hated him for it! But the workers rallied behind him, because he gave them some dignity, and most of all hope for a better future. Saving for a car or a house was within their reach finally, after hundreds of years of slavery!
Here is an amusing tidbit my Dad told us at the dinner table:
One day the big landowner came to his workshop (Dad was a wagon builder), and complained that he had received orders to provide proper outhouses for his workers! "For hundreds of years they **** behind the fences, but now they have to have an outhouse!!" he said, and shook his head. Of course, he himself in the castle had proper water toilets, that drained right into the lake!! And so my Dad built outhouses for quite a few dwellings that didn't have one.
There are other examples as well, but I mentioned this one, because I remember it myself.
Quote:
Yes, we do!! Their excesses are shining examples for us to follow!!
....We owe a great deal to the wealthy.......
I wish you a lovely and sunny Sunday, dear Mikey.
