Join Australia's most dynamic and respected property investment community

Lyn Shaddock's advice

Discussion in 'Investor Psychology' started by Omnidragon, 1st Mar, 2016.

  1. Omnidragon

    Omnidragon Well-Known Member

    Joined:
    17th Oct, 2015
    Posts:
    414
    Location:
    Victoria
    Lyn Shaddock, the 'master of the property cycle', shares his secrets

    What a great but simple advice that I always follow. When everyone's selling you should be buying. And vice versa. Or at least not buying when everyone's buying.

    This is so true re property as compared to an individual stock on the sharemarket because it's not affected by the individual performance of the asset as much. Which I suppose re shares Buffett always says, he only buys companies even an idiot can run. That's like a property. Even an idiot can run it.

    In one sense property at a high level is pretty simple/easy (and often boring because these 'selling' cycles happen once every few years only).
     
    WattleIdo and Hanison like this.
  2. The Falcon

    The Falcon Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    957
    Location:
    Sydney
    Saw that, keen to pick up Shaddock's book once its available.
     
  3. Big Daddy

    Big Daddy Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    473
    Location:
    Perth
    Theres a kindle version on Amazon
     
  4. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,509
    Location:
    Sydney
    Going to download today.
     
  5. Leo2413

    Leo2413 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    5,844
    Location:
    Sydney
    My hardcover copy should be arriving any day now :D
     
  6. The Falcon

    The Falcon Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    957
    Location:
    Sydney
    Where from Leo?
     
  7. Leo2413

    Leo2413 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    5,844
    Location:
    Sydney
    Hanison, Humphrey and The Falcon like this.
  8. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,509
    Location:
    Sydney
    I just read it on kindle. A very short book.
     
  9. Leo2413

    Leo2413 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    5,844
    Location:
    Sydney
    Read it. Short, thin book as @larrylarry said but I enjoyed it very much. Also some interesting books to read recommended at the end. Trying to get them all on order.

    20160304_151035.jpg

    20160304_151108.jpg
     
    Hanison likes this.
  10. Hanison

    Hanison Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    242
    Location:
    Brisbane
    I've purchased hard copy.

    Eagerly awaiting arrival.
     
    Leo2413 likes this.
  11. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,509
    Location:
    Sydney
    @Leo2413 I'm going to get the wild men of Sydney and others Lyn recommended. I do wish he elaborated a bit more on some of his detailed reasoning of his deals. Overall very easy read.
     
  12. Leo2413

    Leo2413 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    5,844
    Location:
    Sydney
    @larrylarry yeah I agree with you mate. Overall like you said an easy read. I especially liked reading all the challenges with council and legal issues. Made me feel a little better :)


    Also, take a look ;) Wild Men of Sydney | Brotherhood Books
     
    larrylarry likes this.
  13. The Falcon

    The Falcon Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    957
    Location:
    Sydney
    Ok a very basic book with no real detail. The lack of detail just leaves common sense wisdom. Overall dissapointing. No new concepts (to me at least, besides from researching "stratum"). Might be useful for new investors that will be introduced to some important concepts.

    Will check out some of the books on the further reading list.

    Has inspired me to self publish something one day! :)
     
    Eric Wu and Leo2413 like this.
  14. The Falcon

    The Falcon Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    957
    Location:
    Sydney
    Just jumped on abebooks and ordered 3 of the recommended books :)

    The Property Boom - is readily available used ex UK sellers
    House of outrageous fortune - readily available cheap ex a lot of US sellers
    Wild men of Sydney - can be found AU/UK used only. I've got one coming from Cooma :)
     
    Leo2413 likes this.
  15. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    It's not a Cooma.
    How much was shipping the OS books?
     
  16. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    9,043
    Location:
    Sydney
    Most are free shipping these days. Book depository is great. No gst and free shipping.
     
    Leo2413 likes this.
  17. The Falcon

    The Falcon Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    957
    Location:
    Sydney
    Bugger all, they are all sent mail. Maybe 5 bucks?
     
  18. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,509
    Location:
    Sydney
    Wish they are on kindle.
     
  19. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    That's not too bad. No point getting a cheap book from OS and then paying heaps in shipping anyway.