Investment Income

[JIT]

What I found interesting was when Steve popped into the Invested forum recently after a long absence, and decided to post about an investment structure/strategy involving 100% leverage, wine schemes, tax deductions, capitalising interest, superannuation, high income, 'low risk' etc...

It was a very interesting and educational discussion, but there was almost immediately a fair amount of criticism of the overall approach and highlighting of its flaws, as well as so called 'negativity'. This thread was not locked up, but deleted all together - and very quickly at that (it only got to page 2, and there were apparently some ripper posts at the end which I missed)! He has now said he will no longer post on Invested either. Perhaps a lesson learnt from the grilling he got here on Somersoft!

I can't blame him though, this sort of discussion on a public forum (even one that you created!) leaves you pretty open to attack and potential embarrassment. Hardly good for business. But, my view is that if you're going to put it out there on a public forum (which could generate business and influence less informed newbies), get ready to take the heat! - you can't seriously expect 'high fives' and thank you's from everyone!

GSJ

 

[NigelW]

Hi all,

In it the discussion of living off equity in retirement is discussed, it is a long read and the 'chapters' of Steve Navra's 'book' have been deleted.

Personally I prefer to take the recommendations and experiences of a Kiethj or a Seechange over anyone who has an investment to sell me.

bye

There's four lengthy articles which discuss Steve's living on equity concept available here http://www.invested.com.au/76/

Mods, feel free to delete if you think this post is inappropriate.

You need to be a member of InvestEd to read them...but joining is free. That's a price even Bill might have difficulty arguing with .

Throughout the series of articles and in particular in part 4, there's considerable discussion of risk factors and risk profiles.

Seech has done very well with his investing. I have great respect for his insight (and his personal mission to save the world from perceived spruikers which whilst probably a bit misguided is very admirable).

I don't know Keith, but reading his threads shows some great results and some independent thinking. Definitely worth reading. Along with Dazzling and a few others one of the few reasons to keep reading this forum.

Steve is the wealthiest financial adviser I know. And he got that way by doing exactly what he tells his clients to do. He's also a great communicator and educator. He didn't make his money from running courses. His one and two day workshops have never cost more than $200-$300 in my recollection.

Cheers
N

 

[Bill.L]

Hi all,

Geoff, you like so many others only want to believe all the negatives thrown my way by the Gurus. You do not seem to be interested in answers to the hard questions.

Whenever we get into these types of debates the conversation seems to get away from the original question and into verbal bashing of the questioners.

To answer your question, or statement...

"

I cannot see that he offers any good alternatives or answers

."

can I please ask you to actually read the following..

http://www.somersoft.com/forums/showthread.php?t=19809&highlight=Somers

or perhaps from my posts in this thread

http://www.somersoft.com/forums/showthread.php?t=11668&highlight=Somers

or maybe my post (9) here?

http://www.somersoft.com/forums/showthread.php?t=30579&highlight=Somers

or maybe my post 51 in this thread..

http://www.somersoft.com/forums/showthread.php?t=25955&page=4&highlight=Somers

or maybe from this thread...

http://www.somersoft.com/forums/showthread.php?t=17694&highlight=shares

And in other threads- I can see that Bill is also very negative against other people who are very positive, go getters, and achievers.

Let's see, people like Brenda Irwin, Seechange, Dazzling who are people that I would call "very positive, go getters, and achievers", I don't think you will find me being very negative to them at all. They have shared what they have achieved and shown how they did it, all very commendable.

If you mean people who have investments/ investment advice to sell, then yes I am prepared to ask all the hard questions. Apparently you Geoff are amongst those who confuse hard questioning with negativity. In the thread you claim I killed off, I would like to counter that it was Steve who killed the thread because he did not want to answer the questions I had asked.


Really Geoff, I had thought better of you.


In reading some of the earlier threads the following always comes up, and I quote from Steve Navra himself...

No Growth = No Spend:

As Maryanne is a pensioner, and has taken out loans to undertake some type of LOE strategy, where does she get the money from to pay the interest in a bad year, especially if it is the first year after the strategy is implemented??

bye

 

[WillG]

Constructive criticism is what makes this forum balanced. I for one value Bill's 'hard questions'. I also enjoy reading the creative techniques from the more flamboyant investors.

A bit of heat in the discussion does make the read more interesting and shows the strength's and weakness's in strategies and highlights the need to examine every investment technique carefully.

 

[Glebe]

Meanwhile, we wait for Maryanne to return...

 

[Bill.L]

Hi all,

I agree we are waiting for Maryanne to return.

I am also eagerly awaiting for GeoffW to return and back up some of his earlier statements, especially...

But I can't see what he offers as an alternative. And, looking at history in the last two years (a limited time frame, I admit), I can't see that he was correct.

How is this incorrect from my post in 2004 ?? Is this an alternative that you think would not have worked??

For shares.....
1/ Get yourself educated as to what works, this will involve lots of reading and studying.
2/ Look for value.
3/ Buy what is going up in price, not down.
4/ Have an "uncle point" where you will get out of a losing situation.

bye

 

[willair]

Hi all,

I agree we are waiting for Maryanne to return.

I am also eagerly awaiting for GeoffW to return and back up some of his earlier statements, especially...

But I can't see what he offers as an alternative. And, looking at history in the last two years (a limited time frame, I admit), I can't see that he was correct.

How is this incorrect from my posts in 2004 ?? Is this an alternative that you think would not have worked??



bye

Bill l, keep up the good work, it's funny when you look back at some of these old posts, that is the only way i know if i'm still on the right track
I too are waiting for Geoff W to spill the beans never give up and keep
posting, your post always have helped me in several ways..
good luck willair..
GURUS comes and go as we both know,i only know of one that stands the test of time,and all the books that have come after his all carry the same lines,he writes under the name Sturat Moore,and he is still out there and on track.