Words of Wisdom

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.
 
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That made me laugh so much - and I didn't need to wade through 19 pages of the raw material, what a gem!! Still can't work out what the sheep is doing in there though :D!

Thanks for your time putting it together Shadow

We'll finish our first part of IP reno this weekend, better go and stroke my equity one last time before it all goes up in smoke any minute now...

kaf
 
I haven't read any of mbl's posts other than what you've put here, but from this selection it sounds like he/she might not be aussie? Talk of 'preparatory school' and 'taking a physical'... maybe he/she is american? Maybe that would explain why he/she has such a skewed view of Aust. property market?
 
I haven't read any of mbl's posts other than what you've put here, but from this selection it sounds like he/she might not be aussie? Talk of 'preparatory school' and 'taking a physical'... maybe he/she is american? Maybe that would explain why he/she has such a skewed view of Aust. property market?
mbl's IP addresses are not Oz based. Not US either.

Which may also explain why so many posts have been made early in the morning.

And the IP addresses do not coincide with any other user.
 
Geoff,
If you can't trace his IP to a specific country it could be a military one.
You could tell he got his education elsewhere (or in the 19th century..:D)
In one of his posts he mentioned Denmark so he is probably an American who lives or works in Europe?
That would explain his early morning posts.
He loves Aussies though.
He doesn't want to leave.;)
Cheers
 
Oh... I see he's been banned!
Without a "shadow" of a doubt.

He (or she) may register under a different name- but I suspect it may not be difficult to work it out when it happens.

To make it clear. MBL was not banned because of opinions expressed. It was because of the way in which the opinions were expressed- and that is why it took so long to get to that point. The continued haranguing, the opinions expressed again and again with little backing, the rudeness to many forumites... you know what I mean.

I do not disagree with the opinion that prices may fall. That would be a normal part of a cycle. Prices in many parts of Sydney have dropped in recent years. In the last cycle, I understand that apartments in my local area dropped 30-40%.

Some people suggest that the "cash cycle" (aka "Depression") may come in the next few years. That may happen. It's happened before.

But the big difference between what mbl was saying and what others have said is that IT IS A CYCLE.

I wish, I wish, I wish, that I had bought in my local area when the prices had dropped. There was panic, and there were firesales.

I could have increased my net worth by four times if I had bought then. Yields were 13% plus as well. The advantages of hindsight.

My suspection is that there could well be a drop, further to what has happened (although this will probably vary within local markets)... but if it does happen, there will be some very good rises to follow.

I think this is what has happened for many cycles over very many years.

MBL may well be right. There may well be a big drop. It could cause a lot of problems.

But I believe that people who can hang in, if that scenario does eventuate,
will be be able to clean up SOOO much.

So my opinion of what mbl is saying is not totally negative. It is just the way it was all expressed.

And yes, we will be keepin a close eye on new posters :D
 
argh geoff.....youre always so wise and tolerant and perfectly logical, the john farnam voice of reason.........i just think he was a d'head!! :) cant you publicly agree...come on!!!!
 
Maybe set up an auto-ban for anyone who says bwahahahahahah from now on? ;)

Ahh the wisdom lost by this banning, who are we supposed to turn to now? Robert Kimosabi?
 
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Maybe set up an auto-ban for anyone who says bwahahahahahah from now on? ;)

Ahh the wisdom lost by this banning, who are we supposed to turn to now? Robert Kimosabi?

That bwahahahahah term he liked to use, is often found on American gossip forums. I have seen it used on a 'vindictive' Dr Phil site, used by people who have nothing better to do than slander celebrities.

He will be back no doubt because he has a big chip on his shoulder about something.

Mrs Bird:)
 
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Dear moderators,

Thank you so much for banning him. I've noticed that there has been no negativity or degenerating threads in the last few days, then came across this which explained why.

I wonder who's forum he'll pop up onto next...
 
In the last cycle, I understand that apartments in my local area dropped 30-40%.
Really?

Perhaps I should be looking at little closer to home for my first investment property.

What are yields like in those areas now?

Some people suggest that the "cash cycle" (aka "Depression") may come in the next few years. That may happen. It's happened before.
Don't tease me Geoff, I stay up each and every night praying for a property crash so I can buy up big all at positive cashflow :D
 
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