Australian sub prime mortgage market.

thanks waz

 

His bro, weren't you listening?

 

Couldn't understand half the mindless dribble coming out of his mouth.

 

my pecs are sore.

 

Kelsa, we'll have to agree to disagree on this one - you're absolutely correct about many people livingin worse conditions, but I simply hate seeing dogs permanently chained up in confined, often concrete spaces. I'm not too fond of zoos either, although I'll admit to standing for hours to watch the Pandas in Beijing and lately HK.

 

Pulled everything accessible around mid last year into a good ol' bank account earning around 7%... extremeley pissed off about what I can't control in super (and am I the only one who wonders why super 'cash' rates are alway 2-3% below what you can get from the corner bank, plus they slug you fees on top).

I have a very simple philosophy - whichever way the mob's going, I'm heading opposite. Not rich and never will be as I'm way too conservative and have developed a strong allergy to work but on the plus side I'm never going to lose much either!

As for the 'wait awhile' scenario - tell that to the MFS folk: 3.22 in Mar 06, 6.54 in May 07, 95c today.

Also, did you note today's story on Macq closing its domestic mortgage books to new customers - read between the lines and what I see is they have a BIG credit squeeze coming. Oh, and the reference in the story to 'no sub-prime exposure'? I think you'll find that means they have no DOMESTIC sub-prime exposure; won't help their ability to reschedule their loans.

 

I see where you're coming from. I had a few dogs in the past and I hated chaining them up. And I've been looking for a good Tibetan Mastiff Puppy for a little while now, I just don't think I'd have the heart to chain them and have them in a confined spaced. And believe the "dog homes" I've been to in China, their owners treat them like their kids.

But when you're having dogs like that in possession, its other people that owners need to be responsible for. They are no Chuhuahuas and they are extremely protective to their family. When you have visitors, it is adviced that owners chain them up for the safety of visitors.

 

yes...we know

 

400 Posts

 

You're just jealous!!

CLICK x 5000000!!!!!!

 

fairynuff , but most get in , and get out , and if you do that at around the right times in most cases , you will do ok , as you know . virtually impossible to pick the bottom , and the top . if that was possible , then all of us would be doing it , and nothing else .

 

Bought some Mac Bank today because I thought they couldn't get any cheaper - and they promptly did get cheaper.

It's in the super fund - along with my other spec buys that suddenly become a long term strategic investment.

Edit ; OTOH, I bought some Allco which went up.

 

what was your real strategy?

wouldn't you rather have paid $70 each a month or so ago?

 

I see the door opened.

 

So, the hand on the knob worked?

 

usually does, eventually.

 

Thats why its now called Macquarie Group, Hence Scud has an out clause.

MBL no longer exisits (as PAPS found out) so it doesn't really matter what price it is in August.

 

Looking for a tax loss? Not sure if I have one.

 

lol

fair enough. anyway...it's not a loss or a profit until you sell, of course, but buying at a peak or while still dropping isn't optimising.

it's all a gamble, i reckon. if kerrari's right, you're going to lose your nuts on it. if she's wrong, you'll make a killing. either way...it's a gamble.

you may as well have gone to the casino, but i think that's against super laws

 

I'll occasionally punt a few bob - just for fun. I'm not brave enough to put serious money into this market.

 

I am learning that very quickly PP.

I thought gees now my head is above water (after years of hard work in manufacturing probably one of the hardest sectors) I better diversify my investments.

I chose to buy some shares. Did some research but obviously not enough. Like you say you only loose if you sell, but there is a cost of keeping them. I'll decide in June whether to sell. Can offset the loss and I will take it as a lesson. Do MORE research before investing.

 

brett....do all the research you like...when something happens like what's been happening, you're almost 100% going to drop money.

it's what's been happening since i can remember...cycles!

if we could pick them as well as scud, we'd all be as mammothly rich as he is.

meanwhile, the twenty bucks i've got sitting in my bank account is earning 7%

anyway...it's all good in the long run.

 

Lifes a journey. Like MHH I haven't put much in. Was just having a go to try and further get ahead.

As they say stick to your knitting. That I will do.

 

like it's something everyone doesn't try at least once!

i like that!

 

Glad you approve.