Derivex

quiggles said:
If that's the case, nat_r, then I'm risking $275 for a potentially massive gain (don't forget, the conduit fee can come out of the loan). If they don't front with the money the loan doesn't settle (obviously) and the word will quickly get out. At that stage they're cactus.
Quiggles
I was a victim of a street scam many years ago. What was even more amazing I knew at that time about this particular type of scam, but the performance was so convincing that I had all my brakes off (I was 18 at the time). Greed completely overtook all my other feelings. I was convinced 200% that I got all angles covered. I lost a lot by my standard at that time.

I let you to figure out the moral of the story...
 
I noticed that Derivex is having a industry briefing on Mon jan the 24th at the medina grand in Syd at 6pm . Is anyone from the fourm going ?

cheers
 
I haven't yet had a legal look at it. The website documents indicate that the main ways that the loan can be called are (1) payment default and (2) loss of value in the security. The second presents a risk, but I'm looking at ways of managing that. Haven't lodged an application therefore haven't received/reviewed the final contract yet.
 
Good news! If they are legit then they will reopen for applications soon enough!

I would love to know what happend behind closed doors for that statement to happen? ASIC? I also wonder what will be happening with the settlements planned for this week ?
 
Wazza,

That type of independent analysis costs plenty of time and money. Their operation so far has been run pretty tightly with a small number of people on the ground and relying on email database technology to handle enquiries and applications.

It seems they have been trying to slip under the radar by entering the Aussie market in a low key fashion. Funny how so much activity has been focussed in property forums - no advertising or marketing spend, no PR firm. Just viral marketing through the likes of us.

They are going to have their hands busy now dealing with ASIC and overcoming scrutiny and objections from the wider finance industry.

Cheers,
FL
 
Free Loader said:
Funny how so much activity has been focussed in property forums - no advertising or marketing spend, no PR firm. Just viral marketing through the likes of us.

If I was offering interest free home loans, I wouldnt waste money on advertising, word of mouth is good enough.

Me: I just got a 20 year interest free home loan
Friend: From who? where ? when? I want one too!
Me: I could tell you if I you give me $50

Hey Derivex can only raise $500M a month, that in itself means that they could exclusively become Somersoft's forums members official supplier of free capital :) I will be the supplier of tooth fairies and flying pigs. (sorry I am in a cynical mood today).
 
always_learning said:
I would love to know what happend behind closed doors for that statement to happen? ASIC? I also wonder what will be happening with the settlements planned for this week ?

Check their website: http://www.derivex.com.au/ it explains that there have been banking industry complaints.

It seems their Industry Debriefing meeting scheduled for Monday 24/1/05 has also been cancelled / postponed.

I believe the first lot of settlements were not due till early February anyway.

Maybe someone can start up another "what if....." thread and we can continue the discussion there. ;)

Cheers, :cool:

Jo
 
Free Loader said:
That type of independent analysis costs plenty of time and money.
FL,

Are you able to elaborate on what sort of entity would be performing this "independent analysis" ? i.e I assume they would they have their own panel of experts that would be able to dissect the Derivex model, including the comprehension of tools and techniques to be implemented within the model, and determine if it is all feasible and above board ?
If so, would the opinions of such experts have any weight (particularly with the relevant authorities) ?

Thanks.
 
Give them a chance...the expert is yet to make his apprasial...but as I said (many times) anybody who actually knows how to the wholesale money market works (rather than has an opinon on how it works) and can use a financial claculator could see thru this offering in an instant.
 
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