SS very first posts

Just had a look back at some of the first posts on ss ,takes a bit of advance searching but some very interesting threads.
 
This isn't that old, but it's a goody!

http://somersoft.com/forums/showthread.php?t=33720



Since MBL appears to have left us, I decided to compile his words of wisdom. I even spellchecked them!

There is one thought-provoking observation for each week of the year... so just print them out, stick them on the fridge door, and try to memorize one each week.

If you do this, your investing skills will improve beyond your wildest dreams :p


MBL's 52 Property Investing Insights.

1. Bwahahahahaha! There is absolutely no way you are going to see a doubling in prices. More like a halving in prices.

2. You are kidding me right? No offence intended... but which investment guru taught you this tripe? He is an amateur.

3. The doubling every 7 years is a myth that a lot of real estate agents tell you, but it is certainly not true!!!

4. Are you kidding me? You actually call this advice? I am no doom and gloomer......I am just a realist.

5. My accountant tried to pass me that myth once, but he also told me that Amway is a wise and safe business.

6. You know what they say... when America sneezes... this is only the beginning!

7. Good God... what is this preparatory school? Is the purpose of this forum just to show how 'good' and smart you all are?

8. This boom was caused by very easy lending by the banks, and they are getting ready to close the credit tap!!!

9. Repeat after me... cash. This cycle happened before... think back to the early 90s.

10. A lot of people got burnt then... but nothing like how many and at what level they are going to get burnt now!!!

11. You're all living in la la land... do the math... read up on some some basic economics!

12. Bwahahahahaha!!! You are kidding me right ? I mean this is your financial advice?

13. When you start hearing about real-estate investment on late night infomercials, then you know the jig is up.

14. I have struck a nerve. I would suggest you read Mike Sherlock. Which fool will be the one holding the bag?

15. These double digit increases ARE NOT NATURAL, and are NOT sustainable!!!

16. Relying on a bank to value your house is like a drug addict relying on their dealer to take their physical.

17. This 7 year statistic is starting to sound like the 10% of your brain myth that Scientologists and pop-psychologists say.

18. I take it you are highly leveraged? All signs that you should NOT be buying right now... but rather be selling!!!

19. I realised something was wrong in Denmark when I saw people driving around in cars that they shouldn't be in.

20. You guys don't see this? You guys have not seen people with 50,000 dollar salaries driving around in European cars?

21. Hasn't this rung any bells in your heads? Your 'strategy' is not investing but 'speculating'.

22. What you see in the inner city at the present moment is what they call a 'dead cat bounce'.

23. Bwahahahahahaha! Property in Australia is in for a 60% haircut!!!

24. I am no Warren Buffet but don't repeat what you just said to a lot of people... they will laugh at you behind your back.

25. Cash up people... and if you are highly leveraged, get out quickly. That piece of advice I will give you for free.

26. How can this NOT BE a bubble? Get ready people... hate to bust your little fantasy.

27. That is my claim to fame... investing in real estate when Duran Duran were still chart toppers... what's your's exactly?

28. You may laugh in the face of adversity... but it won't do a lot of good when TSHTF. Hope you're not over-leveraged.

29. Jesus Christ 7 IP's from the supposed 'profits/equity' of one IP? Can't you see the signs!

30. I mean what financial gods would ever give that sort of advice? Bwahahahaha!!!

31. This is called speculation!!! IT IS NOT CALLED INVESTING!!! If you cannot see it I can't make you see it!

32. Utter nonsense like 'becoming a multimillionaire in 5 years' myths! Bwahahahaha!!!

33. You've got to be joking right? I mean really... 7 IP's from one property... come on!!! What on earth were you thinking?

34. I've told you all already. With all due respect, this is amateur stuff. I cannot take you seriously.

35. What makes you credible? Somersoft... what a pillar of education this place must be.

36. Do you guys notice the large increase that begins at the end of the 90's and continue to 2006?

37. Can you guys see that it is escaping the mean ? Well wait for a roller coaster ride toward the mean line again!!!

38. I'm pretty sure you can figure out where the mean line is. Good luck!!! Bwahahahaha!!!

39. We are gonna wait for all those IO loans and fixed rate loans for 3 years to 'reset'....that's when the SHTF big time.

40. Saw it at the start of the 1990s... will no doubt see it again. Quite simply now is not the time to invest!

41. You can't see that in the graph you posted, the prices from 2001 onward have escaped the mean?

42. There will be NO GROWTH in any area in Sydney or Melbourne in the coming years.

43. The main way you get burnt is that YOU LOSE YOUR EQUITY... and don't for a second think that cannot happen.

44. A couple more interest rate rises, and you will see billions of 'paper wealth' go up in smoke!!!

45. Do you get it now? Do you understand that for housing to return to mean, we are to expect about a 40% haircut?

46. I will repeat myself again... I'm sorry but I cannot make it any simpler. That is all. Just a reality check.

47. You could not be that naive right... with all due respect... you SHOULD NOT BE IN THIS GAME!!!

48. SELL SELL SELL!!! What is going to happen to you if interest rates rise by 2%? I'll say it again... CASH!!!

49. If you have anything on credit then sell it now!. YOU HAVE BEEN WARNED!!!

50. If you didn't buy with a 50% deposit on a 10 year loan then watch out. Bwahahahaha!!!

51. I am not venomous... negative but not venomous... not an ounce of schadenfreude in my body.

52. Good luck people... and just remember, it ain't yours till the last payment has been made!!!



Cheers, Shadow.
 
Omg.... Some people reckon I shouldn't say bad things about my mum and dad but... MLB sounds like my mum and dad...
 
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