banker today said this to me. | Page 2 | FerrariChat

banker today said this to me.

Discussion in 'Australia' started by Arvin Grajau, Feb 19, 2009.

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  1. Looney

    Looney F1 Rookie

    Jul 1, 2004
    2,767
    Gold Coast
    Full Name:
    BB
    #26 Looney, Feb 20, 2009
    Last edited: Feb 20, 2009
    nope got to keep my half of the portfolio. had it all put in my name and was all settled by then :D

    i started selling up, because i wanted to be cashed up for what was coming (i had an inkling) based on what happened in August/Sept 2007 :D and wanted to have as much cash as possible for when i moved across the country.

    only problem is that although i had a little foresight, i only cleared about 65% of my holdings, not the lot :( but you cant dive in feet first thats just my cautious nature.
     
  2. moretti

    moretti Five Time F1 World Champ
    Lifetime Rossa Owner

    Nov 1, 2003
    59,757
    Australia
    Full Name:
    John
    was talking to a banker friend of mine last night, good mate I've known for 27 years, reckons if you've still got a job by Sept you will be fine, same with a business .... reckons the banks are bastards, they caused this ruckus and are ruining many good businesses by behaving like scum (funny to hear a banker bagging his own crowd :) )
     
  3. Arvin Grajau

    Arvin Grajau Seven Time F1 World Champ

    Jun 7, 2006
    78,322
    Wurundjeri man.
    Full Name:
    Arvin Grajau
    A lot of people with serious debt out their and life styles to suit.
    fools trying to keep up with those whom have the money.
    Around my area it was once a normal area, now its full of would bes with serious debt.
     
  4. kerrari

    kerrari Two Time F1 World Champ

    Oct 22, 2004
    24,008
    Coolum Beach AUSTRALIA
    Full Name:
    Karen H.
    But +2% is still better than paying fees and STILL getting a negative result...
     
  5. Arvin Grajau

    Arvin Grajau Seven Time F1 World Champ

    Jun 7, 2006
    78,322
    Wurundjeri man.
    Full Name:
    Arvin Grajau
    lost me.
     
  6. 360C

    360C F1 World Champ
    Lifetime Rossa Owner

    If that's the case well done. So what are you doing now?
     
  7. "Megan"

    "Megan" Formula Junior

    Jul 1, 2006
    317
    Sydney
    That's the bastard about this whole situation. The banks are happy to do stupid things like lend money to those who are never going to be able to repay a loan, and yet if someone gets into a bit of difficulty for reasons out of their control, rather than being accommodating and helping out temporarily until someone/business gets over a rough patch, they are only too happy to pull the carpet out from underneath them.

    Just glad we have always been cautious too and never over-committed ourselves. We may only live in a 2br apartment (albeit in a great location) and drive MINIs, but never saw the point in being in so much debt that you couldn't sleep at night. I would imagine that many living in our area, that went for the big house/mansion, may not be sleeping too well at the moment. Thank goodness we are not beholden to any bank at the moment.
     
  8. Arvin Grajau

    Arvin Grajau Seven Time F1 World Champ

    Jun 7, 2006
    78,322
    Wurundjeri man.
    Full Name:
    Arvin Grajau
    [QUOTE="Megan";138436341]That's the bastard about this whole situation. The banks are happy to do stupid things like lend money to those who are never going to be able to repay a loan, and yet if someone gets into a bit of difficulty for reasons out of their control, rather than being accommodating and helping out temporarily until someone/business gets over a rough patch, they are only too happy to pull the carpet out from underneath them.

    Just glad we have always been cautious too and never over-committed ourselves. We may only live in a 2br apartment (albeit in a great location) and drive MINIs, but never saw the point in being in so much debt that you couldn't sleep at night. I would imagine that many living in our area, that went for the big house/mansion, may not be sleeping too well at the moment. Thank goodness we are not beholden to any bank at the moment.[/QUOTE]

    well put down,i've always been nice and easy.IMO the secret to investment property or shares is to hold long term.
    The current young high flyers, want it all in a decade or so its not that easy,go back years ago property/shares grew in small %s.Not 20/30% pa.
     
  9. Modeler

    Modeler F1 Veteran

    May 19, 2008
    7,330
    State of confusion
    Full Name:
    a.n.other
    [QUOTE="Megan";138436341]That's the bastard about this whole situation. The banks are happy to do stupid things like lend money to those who are never going to be able to repay a loan, and yet if someone gets into a bit of difficulty for reasons out of their control, rather than being accommodating and helping out temporarily until someone/business gets over a rough patch, they are only too happy to pull the carpet out from underneath them.

    Just glad we have always been cautious too and never over-committed ourselves. We may only live in a 2br apartment (albeit in a great location) and drive MINIs, but never saw the point in being in so much debt that you couldn't sleep at night. I would imagine that many living in our area, that went for the big house/mansion, may not be sleeping too well at the moment. Thank goodness we are not beholden to any bank at the moment.[/QUOTE]

    Bought one car with hire purchase at 18. Bought one house with a bank loan that I paid off in 7 years. That's all the debt trap I've ever been in.
    Yes it's limiting in how far and fast you progress but -
    1, you don't age young through worry,
    2, you're safe from them ever getting a chance to take all you've worked for.
    I've known criminals with more morals than australian bank managers I've encountered.
     
  10. Arvin Grajau

    Arvin Grajau Seven Time F1 World Champ

    Jun 7, 2006
    78,322
    Wurundjeri man.
    Full Name:
    Arvin Grajau
    don't worry their is a way of getting in the last punch with a bank.
    When I go it will be a KO not a TKO
    gee i love have credit cards with zero outstanding.
     
  11. Aircon

    Aircon Ten Time F1 World Champ
    BANNED

    Jun 23, 2003
    100,524
    Melbourne, Australia
    Full Name:
    Peter
    don't spose you know a cure to stop aging through aging, do you?
     
  12. Modeler

    Modeler F1 Veteran

    May 19, 2008
    7,330
    State of confusion
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    a.n.other
    No cures here m8.

    Live right now is all I got.
     
  13. PAP 348

    PAP 348 Ten Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2005
    100,207
    Mount Isa, Australia
    Full Name:
    Pap
    Secret is long term alright. Always has been and always be! :D:D

    Yep, SURE do!! :(:(
     
  14. Looney

    Looney F1 Rookie

    Jul 1, 2004
    2,767
    Gold Coast
    Full Name:
    BB
    well the plan was to actually move over here to semi-retire,

    however as that 35% that wasnt liquidated yet was going to be my retirement fund, but now that's all locked in or depleted as a result of the GFC, so i now have to work again.

    so got a safe & secure mid-high level Government job in December, so it pays quite well, is work i enjoy and will sate my requirements through the GFC, and once things improve again, i intend to get back into property, however probably more toward straight development this time, but i think this will take a good 2-3 years before it becomes truly viable again (if not a little longer).

    im really struggling to find a way to make money in this current market, especially considering i am actually a very conservative person.
     
  15. greg246

    greg246 Two Time F1 World Champ
    Owner Silver Subscribed

    Jun 2, 2004
    26,603
    you're only as old as the woman you feel
     
  16. Modeler

    Modeler F1 Veteran

    May 19, 2008
    7,330
    State of confusion
    Full Name:
    a.n.other
    Can be an expensive treatment.
     
  17. greg246

    greg246 Two Time F1 World Champ
    Owner Silver Subscribed

    Jun 2, 2004
    26,603
    ask me how I know ;)
     
  18. Aircon

    Aircon Ten Time F1 World Champ
    BANNED

    Jun 23, 2003
    100,524
    Melbourne, Australia
    Full Name:
    Peter
    oh god i'm old! :(
     
  19. Modeler

    Modeler F1 Veteran

    May 19, 2008
    7,330
    State of confusion
    Full Name:
    a.n.other
    Better start getting graceful then.
     
  20. Aircon

    Aircon Ten Time F1 World Champ
    BANNED

    Jun 23, 2003
    100,524
    Melbourne, Australia
    Full Name:
    Peter
    i am! you should see me dance.
     
  21. Modeler

    Modeler F1 Veteran

    May 19, 2008
    7,330
    State of confusion
    Full Name:
    a.n.other
    Will look forward to it.
    Whens the next full moon?
     
  22. ACP

    ACP Formula Junior

    Apr 7, 2004
    267
    Sydney
    Full Name:
    Anton
    It's negative if you factor in tax and inflation which is the way to measure it correctly.
     
  23. Arvin Grajau

    Arvin Grajau Seven Time F1 World Champ

    Jun 7, 2006
    78,322
    Wurundjeri man.
    Full Name:
    Arvin Grajau
    I would prefer to be buying the top shelf shares at the moment.
     
  24. ACP

    ACP Formula Junior

    Apr 7, 2004
    267
    Sydney
    Full Name:
    Anton
    What are the top shelf ones?
     
  25. Arvin Grajau

    Arvin Grajau Seven Time F1 World Champ

    Jun 7, 2006
    78,322
    Wurundjeri man.
    Full Name:
    Arvin Grajau
    IMO anything in the top 25 listed companies.
     

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