It's good to be skeptical about investor stories - the stuff that goes unsaid...

Discussion in 'Investor Stories & Showcase' started by jaybean, 20th Oct, 2017.

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  1. Anthony Brew

    Anthony Brew Well-Known Member

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    In a way yes. They want to get the respect of others (aka Maslow's hierarchy of needs), and people often omit major details and straight out lie to get respect.

    The irony is that eventually anyone close to them will find out and no one whose respect will actually matter will ever believe anything they say, including things that may actually deserve respect.

    The problem, and the reason for this thread I believe, is to point out that many people on here do this and you need to beware because leaving out important parts of a story can lead you down a path that has consequences that you were not aware when you assumed the other person was actually being straight.
     
  2. Beano

    Beano Well-Known Member

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    Perhaps you should initiate a meeting on a day or time to suit you?
     
  3. larrylarry

    larrylarry Well-Known Member

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    It’s alright. Thursday suits majority here and taku is a better organiser.
     
  4. Gockie

    Gockie Life is good ☺️ Premium Member

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    There's the alternative of Wentys on Wednesdays...
     
  5. larrylarry

    larrylarry Well-Known Member

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    Sharks suits me better as I can get there straight from work.
     
  6. Sackie

    Sackie Well-Known Member

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    @larrylarry I'm skeptical of your story :p
     
  7. larrylarry

    larrylarry Well-Known Member

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    Come on. :)

    I love coaching my junior cricket team.
     
    Last edited: 27th Oct, 2017
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  8. Konn

    Konn Well-Known Member

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    This is the definition of "ASX Penny Stock Investors" Facebook group.
     
  9. TMNT

    TMNT Well-Known Member

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    what a loser, boasting about paying your house off when mummy and daddy covered it
     
  10. spoon

    spoon Well-Known Member

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    One thing I can agree on is property investment is hard yakka. Mentally and physically. Sometimes involve climbing into the roof and getting rid of white ants, among others. Dealing with troublesome tenants, or even property managers, or worse bank managers who no longer your friends due to policy changes.
     
  11. DaveM

    DaveM Well-Known Member

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    I generally find the media stories about XYZ amazing investor are just advertorials for whatever business/service/seminar/spruikfest the subject of the article is there to promote. With the story embellished or aspects glossed over to sucker in the newbies with dollar signs in their eyes to harvest clickbait.

    I saw an article a while ago featuring some buyers agent in Sydney, where the article said she had never bought a property of her own (PPOR or investment). My head nearly exploded.
     
  12. jaybean

    jaybean Well-Known Member

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    Wow.
     
  13. Gypsyblood

    Gypsyblood Well-Known Member

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    We played this game at work. More than a 100 odd people each given a post card telling them they are the person on that postcard. One said you are in a wheel chair, another said you are a single mum, another said you are single and young, another said you have a great Uni education, another that you are a guy/girl married with two kids, another your parents are rich, you don't need to earn and so on. Everyone only knew their own cards and no one else's.

    A presenter then asked questions like,
    "there is a huge project about to commence, it will be great for your career but requires you to spend an extra 2 hrs a day working on it" or "you need to travel for a conference away from home city" or "you are asked to work Flexible timings with an offshore team" etc. There were a good 20 such questions.

    The presenter made everyone form a line one side of the room with plenty of space in front and asked people to keep stepping forward if they think their situation on the card allows them to. The person who was the farthest at the end of the game was the "winner" in that game having achieved the most on those potentially career building questions.

    Once we had a winner, a guy at work who was a good few steps further out than all others (who stepped forward less than him on some questions) they asked him and all of us to read out who we were on the cards. Guess what the winners card said? It said "you are a person in a wheelchair dependent on help"

    That game has been the single most powerful lesson to me personally. To me its absolutely not what you have or don't or others have or don't that determines success in anything in life. It's your mind frame and thinking you can or thinking you "should be able to" and wanting to do it too.

    So I really don't think it matters if someone got an inheritance, or got helped on the deposit by parents, or had a high paying job. They could still have blown it all off. But instead they invested it and made it. Also in a country like Pakistan where I am from I understand people with less resources spend a while in an unfortunate cycle of struggle, but in a country with as much support as you can ask for like Australia, there's no excuse not to get ahead and get further.

    My two cents.
     
    Last edited: 28th Oct, 2017
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  14. TreeChange@50

    TreeChange@50 Well-Known Member

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    I think you could replace 'investment' in that last para with life, love, business, career etc.
     
  15. S1mon

    S1mon Well-Known Member

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    When are you going to share your story (promote your business) @DaveM ?
     
  16. DaveM

    DaveM Well-Known Member

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    Never, have been asked a few times for interviews/my story but not interested in being in magazines/media. Prefer to run my own race (and business) rather than bignote myself.
     
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  17. MTR

    MTR Well-Known Member

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    I don't get this, why would it matter either way. Its a forum after all what people inherit etc is irrelevant in the scheme of things.

    The investing rules never change, you still need to be able to service debt and manage your own risk and no one on the forum is responsible for your money and your strategy regardless.
     
  18. The Y-man

    The Y-man Moderator Staff Member

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    I can see a point @jaybean brings up - maybe not so much inheritance - but income. It's makes a huge difference - more so now than ever. I always try to make it known when I tell "our story" that we are DINKS, 2 well paid jobs, and 2 part time jobs on top of that at various stages. So getting the portfolio we did is very different to say @skater

    The Y-man
     
  19. Sackie

    Sackie Well-Known Member

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    Personally I don't think it makes much of a difference. I see people who have very well paid jobs, inherit money etc and still rent and have very little to show for it. Just because someone has a high income and gets a chunk of cash from papa and then invests and does well, doesn't get them less 'kudos' in my books because they could have done what so many other people do which is blow the money and not invest at all. But instead they take on risk with debt, push through the challenges of finding properties to invest in, deal with banks, tenants, PMs, agents, lawyers, councils etc etc. Just my opinion.
     
    Last edited: 30th Oct, 2017
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  20. Sackie

    Sackie Well-Known Member

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    +1.
     
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