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From: Colin Mills
Guy at work told me he had been to a seminar where the usual spiel was given about how he could get rich using property, stock market, blah, blah blah.... Guy giving the spiel was a Yank (surprise surprise) who was running another seminar for which he wanted some serious money.
OK what I'd like to know is just who are these guys? They hop on a plane from LA (probably never set foot before in this country in their life) and the next day they are billed as being hot shot property know-it-alls who want a small fortune to reveal the "secrets"! What are their credentials? What AUSTRALIAN qualifications do they have? What experience do they have investing in AUSTRALIAN property or the AUSTRALIAN stock market.
I lived and worked in the States and can assure you that just because something works in southern California it does NOT mean it will work here. Fact is, America and Australia are in certain respects like chalk and cheese yet these characters are promoted as being full of insider knowledge and possessing sure fire ways to make a fortune applicable to the local market. These jokers would not know the difference between a kangaroo and a wombat!!!
Yet look at the info they actually peddle. Selling call options and wrapping property have been around for at least 20 years that I'm aware of! (My ex brother-in-law was wrapping in the early 80s in Washington DC - for those who think wrapping is the best thing since sliced bread I might add he was wiped out when interest rates jacked up and the market dived and all his tenants/purchasers walked)
Why would anybody pay thousands of dollars to hear info over 20 years old??? So wheres the Office of Fair Trading or consumer affairs watchdog.
My solicitor calls these characters snake oil salesmen. Its hard to disagree.
Guy at work told me he had been to a seminar where the usual spiel was given about how he could get rich using property, stock market, blah, blah blah.... Guy giving the spiel was a Yank (surprise surprise) who was running another seminar for which he wanted some serious money.
OK what I'd like to know is just who are these guys? They hop on a plane from LA (probably never set foot before in this country in their life) and the next day they are billed as being hot shot property know-it-alls who want a small fortune to reveal the "secrets"! What are their credentials? What AUSTRALIAN qualifications do they have? What experience do they have investing in AUSTRALIAN property or the AUSTRALIAN stock market.
I lived and worked in the States and can assure you that just because something works in southern California it does NOT mean it will work here. Fact is, America and Australia are in certain respects like chalk and cheese yet these characters are promoted as being full of insider knowledge and possessing sure fire ways to make a fortune applicable to the local market. These jokers would not know the difference between a kangaroo and a wombat!!!
Yet look at the info they actually peddle. Selling call options and wrapping property have been around for at least 20 years that I'm aware of! (My ex brother-in-law was wrapping in the early 80s in Washington DC - for those who think wrapping is the best thing since sliced bread I might add he was wiped out when interest rates jacked up and the market dived and all his tenants/purchasers walked)
Why would anybody pay thousands of dollars to hear info over 20 years old??? So wheres the Office of Fair Trading or consumer affairs watchdog.
My solicitor calls these characters snake oil salesmen. Its hard to disagree.
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