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    #61
    Originally posted by V for Vendetta View Post
    Study, investment qualifications, financial advisor qulaification and most importantly doing the homework on what the options out there are. I guess if someone went away and did all that stuff themselves then they wouldn't need me BUT generally they don't. If someone had all the work done themselves then our products would sell themselves imo. I 100% believe we have the best offering around for long-term investors.




    People lose money from time to time. The vital question is whether or not it is money they can afford to lose and do they have to crystallise the loss at a certain point?

    Only greedy people lose money they can't afford to lose imo and that's not my fault. Sometimes people say they can take risks but they are lying to themselves and their advisors. That is their fault not the advisors fault.

    Also a lot of nonsense is talked about the recession where everything is marked to market on a daily basis. If you own an object that has a market value and the next day the market value is less you still own the object. If you are happy to own the object then the price shouldn't matter so much on a day to day basis.

    I can honestly say nobody I advised lost a lot of money (relative to them) that they couldn't afford to lose and I fortunately have nothing to feel guilty about to date.
    Thanks, cool answers.

    Comment


      #62
      Originally posted by FeetMagic View Post
      Where do you keep your money
      Most of my money is invested in a pension as I had a feeling AVCs wouldn't be around forever so I pumped any spare cash into the AVCs for the last 5 years as an alternative to buying property.

      The investments are quite widely spread but have a defensive slant which is inappropriate over the long run but I have had it running like that over the last 2-3 years as I wasn't confident in the very wide market rally.

      A lot of our remaining cash has been invested in mine and my wife's education and a few toys as we are our own best investments.

      The remaining cash is spread between two irish banks but it's small money just to keep us going for six months if anything happened. I am very well insured for both death in service and disability as that is our biggest risk at this stage in our lives.

      I also own some specific shares picked up over the years and have loaned some money to family.
      ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

      Comment


        #63
        Originally posted by V for Vendetta View Post
        Most of my money is invested in a pension as I had a feeling AVCs wouldn't be around forever so I pumped any spare cash into the AVCs for the last 5 years as an alternative to buying property.

        The investments are quite widely spread but have a defensive slant which is inappropriate over the long run but I have had it running like that over the last 2-3 years as I wasn't confident in the very wide market rally.

        A lot of our remaining cash has been invested in mine and my wife's education and a few toys as we are our own best investments.

        The remaining cash is spread between two irish banks but it's small money just to keep us going for six months if anything happened. I am very well insured for both death in service and disability as that is our biggest risk at this stage in our lives.

        I also own some specific shares picked up over the years and have loaned some money to family.
        Mmmmm maybe you're not as clever as I thought.

        I remember years and years ago reading an interveiw with the gambler Harry Findley called "Harry Findley on ......." where he gave his opinion on a whole load of stuff.
        In Harry Findley on Pensions he said.... Pensions are the worst value bet of all time. Its like taking 6/4 about a 3/1 shot and you're only Even Money to be alive to collect!!!

        Comment


          #64
          I'm usually a dick about threads like this, things have changed recently though and I have to say this is probably the second best thread I've read on here.

          You sound like a nice, interesting guy who's hopefully going places.

          Keep up the good work.

          Edit, forgot to ask a question, so here goes:

          1/1 live game...
          I have 75€ which is the effective stack.
          Limped pre, hero has 53o in the BB, Villain is SB (competent but not great)

          Flop is 523 rainbow, checked to hero who makes it 3 into 4,
          folded to villain who makes it 20, Hero tanks and ......?

          Comment


            #65
            Originally posted by Arazi View Post
            Mmmmm maybe you're not as clever as I thought.

            I remember years and years ago reading an interveiw with the gambler Harry Findley called "Harry Findley on ......." where he gave his opinion on a whole load of stuff.
            In Harry Findley on Pensions he said.... Pensions are the worst value bet of all time. Its like taking 6/4 about a 3/1 shot and you're only Even Money to be alive to collect!!!
            I'm definitely not as clever as you thought. Never underestimate the stupidity of other people and you won't go wrong.

            I have four investment/savings time horizons in my mind.

            1 Immediate
            2. Medium Term
            3. Longer term but actively managed by me
            4. Very long term reviewed by me regularly but not actively managed by me.

            I then choose various types of vehicles to best maximise those savings objectives. That's all my pension is, one of those vehicles.

            The unusual thing is I chose to maximise my long term untouchable savings very early in life and I'm now working on medium term stuff and reducing the pensions savings except for my employer contributions (10% of salary rising to 15% in 3 years). Before I was putting in 20% myself and my employer was putting in 10%. This was a product of forseeable legislative changes and frothy irish economic madness at the time. I made my decisions using the best knowledge I had at the time and I really don't regret them.
            ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

            Comment


              #66
              Originally posted by sickhabbit View Post
              I'm usually a dick about threads like this, things have changed recently though and I have to say this is probably the second best thread I've read on here.

              You sound like a nice, interesting guy who's hopefully going places.

              Keep up the good work.
              If the best thread belongs to the butcher Hayes then please don't say it as his head couldn't take anymore expansion!!

              Thanks for your nice comments.
              ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

              Comment


                #67
                Originally posted by sickhabbit View Post
                Edit, forgot to ask a question, so here goes:

                1/1 live game...
                I have 75€ which is the effective stack.
                Limped pre, hero has 53o in the BB, Villain is SB (competent but not great)

                Flop is 523 rainbow, checked to hero who makes it 3 into 4,
                folded to villain who makes it 20, Hero tanks and ......?
                You should have topped up.

                Pump to the maximum now.

                Poker is a life leak of mine.......
                ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

                Comment


                  #68
                  thanks for doing this, am definatly an investment fish, just leaving lumps in my bank savings a/c.

                  wheres the best place for poker winnings? no garentee of long term sustainability to these earnings, so looking to put them somewhere for future use. Probably be looking at getting a place of my own in next couple of years so want a good looking financial history with the bank as well

                  Comment


                    #69
                    Originally posted by Midnitekowby View Post
                    thanks for doing this, am definatly an investment fish, just leaving lumps in my bank savings a/c.

                    wheres the best place for poker winnings? no garentee of long term sustainability to these earnings, so looking to put them somewhere for future use. Probably be looking at getting a place of my own in next couple of years so want a good looking financial history with the bank as well
                    Hey Midnitekowby,

                    It's impossible to answer that question in a vacuum.

                    There are so many other questions which are relevant.

                    Do you have a day job to get a mortgage with? They aren't going to give you a mortgage based on +EV poker situations.

                    Are you a truly exceptional poker player or just a guy riding the crest of a wave at the minute?

                    If you are so good then why not keep access to the monies as that will provide the best return?

                    If you are like RDIII and enjoying a good year with the inevitable downslide awaiting then just cash out now.

                    All you need for a decent deposit is probably 30 or 40k so personally I wouldn't sweat too much about Irish banks for 40k in savings. If you are looking to buy outright for cash then I'd be looking at banks abroad to protect the loot.

                    Sitdown and do a proper honest financial analysis of yourself and then take action is the best advice I can give you.
                    ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

                    Comment


                      #70
                      I have some cash in euros floating around, I was all set to buy some shares via keytrade but that was a week before the Aug 2nd US default so I didn't buy any. I dont have the time/knowledge to keep a eye on the markets these days. Then I was going to leave it in a keytrade savings account but the whole greek bonds thing put me off.
                      I know cash doing nothing is -ev but I'm not looking to get rich from it (there isn't enough anyway), I only "need" it for a masters in two years.
                      Anyway should I buy sterling/dollars or are euros grand?
                      Ty

                      Comment


                        #71
                        Very good read, Olly. Time is a treasure and you've certainly made good use of your own.
                        I read a post of yours in the bbv some time ago where you wrote about your back ground and couldn't understand how people like ionapaul were taking time out after taking redundancy. You future could well lie as a motivational speaker.

                        Who was the most influential person in your life from an early age and what was the most important advice you received in your formative years ?

                        Were you always ambitious and confident enough to back yourself or did you need people to push you in order to fulfill your potential ?

                        Can you describe in one sentence why you have so much belief and confidence in yourself?

                        Do you believe in any higher power,supreme being etc?

                        Why do you place such a big emphasis on the development of your ability to speak in public? Do you see yourself delivering an important speech to a large gathering at some stage in the future? Motivational guru maybe?

                        Why the love of Leinster rugby or rugby in general? Did you play the game yourself?
                        Is the current Irish team the best ever?

                        Finally having played against you a few times over the years in the SE and Fitz, how are you such a bad player, especially bearing in mind that you are successfull and work hard to be in every other aspect of your life?
                        "Let your boat of life be light, packed with only what you need - a homely home and simple pleasures, one or two friends, worth the name, someone to love and someone to love you, a cat, a dog, and a pipe or two, enough to eat and enough to wear, and a little more than enough to drink; for thirst is a dangerous thing." Jerome K. Jerome Three men in a Boat

                        Comment


                          #72
                          Originally posted by Zosma View Post
                          I have some cash in euros floating around, I was all set to buy some shares via keytrade but that was a week before the Aug 2nd US default so I didn't buy any. I dont have the time/knowledge to keep a eye on the markets these days. Then I was going to leave it in a keytrade savings account but the whole greek bonds thing put me off.
                          I know cash doing nothing is -ev but I'm not looking to get rich from it (there isn't enough anyway), I only "need" it for a masters in two years.
                          Anyway should I buy sterling/dollars or are euros grand?
                          Ty
                          So you need the money in two years time. Markets are very volatile and even if they weren't I wouldn't be recommending shares over that timeframe.
                          Why take on currency risk?? Are you going to continue living in Ireland? Will your liabilities/expenses continue to be here?

                          If it's a chunky amount of cash then look for a core euro bank. Germany or the Netherlands. If not then a few bob in an Irish bank to survive on will probably be okay and if Ireland gets fucked out of the euro and devalues at least you'll have your education and you can just leave the country and work abroad or something. A few k of a euro loss isn't going to be the biggest problem in your life.

                          Over the timeframe you've indicated I'd sit on my hands imo. Doing nothing is a decision too.

                          Also for 10 or 20k I wouldn't buy shares directly myself unless I was getting a discount. I'd just put it in a cheap pooled vehicle that invested in the sort of shares I like.
                          ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

                          Comment


                            #73
                            Originally posted by Zosma View Post
                            I have some cash in euros floating around, I was all set to buy some shares via keytrade but that was a week before the Aug 2nd US default so I didn't buy any. I dont have the time/knowledge to keep a eye on the markets these days. Then I was going to leave it in a keytrade savings account but the whole greek bonds thing put me off.
                            I know cash doing nothing is -ev but I'm not looking to get rich from it (there isn't enough anyway), I only "need" it for a masters in two years.
                            Anyway should I buy sterling/dollars or are euros grand?
                            Ty
                            If you are keeping a lot of Euro I would be inclined to get them out of Irish Banks and try to get them into a European bank, preferably German. If Ireland drop out of the Euro our money will devalue by approx 20% overnight.
                            I would ideally like to have a lot of my savings split between German Euro and Norwegian Krone.

                            Comment


                              #74
                              Originally posted by GingerMilla View Post
                              Very good read, Olly. Time is a treasure and you've certainly made good use of your own.
                              I read a post of yours in the bbv some time ago where you wrote about your back ground and couldn't understand how people like ionapaul were taking time out after taking redundancy. You future could well lie as a motivational speaker.
                              Thanks.

                              Somebody said that to me before, but until I achieve a number of things I'd feel like a fraud. I hate those speakers who tell you about what they are doing or going to do. If you were that great you'd be bloody well doing it and not just talking about it. If someone wants my perspective on something they can just ask me and I'm happy to tell them. Then they can ignore me all they like.

                              I'm aware of the irony of saying that in this thread but I'm only doing this because I've enjoyed other peoples threads so much over the years and I feel like a leech if I don't repay in kind in some small way. Plus I'm definitely not saying I'm the finished article yet.

                              Originally posted by GingerMilla View Post

                              Who was the most influential person in your life from an early age and what was the most important advice you received in your formative years ?
                              My parents by a long long way.

                              Two great bits of advice I got were as follows;

                              On going into a new school.

                              "Nobody knows you there so you can be whatever you want to be"

                              and

                              "It doesn't matter what anybody else does"

                              Not exactly earth shattering but if I had kids of my own and they learned those two things I'd be pleased.

                              Originally posted by GingerMilla View Post
                              Were you always ambitious and confident enough to back yourself or did you need people to push you in order to fulfill your potential ?
                              When I was very young I never gave a fuck about anybody else except my family. I literally didn't care if someone else lived or died. I don't know if this gave me confidence but it made me indifferent to the opinions of others. My parents had massive ambitions for me and thankfully I had the intelligence to deliver so it was never a burden. That probably helped.

                              My ambitions came from within and from my family. I hated to see people who weren't as smart as me do better then me. Also I was poor so I had nothing else.

                              Originally posted by GingerMilla View Post

                              Can you describe in one sentence why you have so much belief and confidence in yourself?
                              When you see the quality of most of the sucessful people in this town you realise that you should be running the fucking show.

                              Originally posted by GingerMilla View Post

                              Do you believe in any higher power,supreme being etc?
                              I do.

                              Originally posted by GingerMilla View Post
                              Why do you place such a big emphasis on the development of your ability to speak in public? Do you see yourself delivering an important speech to a large gathering at some stage in the future? Motivational guru maybe?
                              I used to believe in academia and the ability to learn, understand and come up with creative ideas but I realise now that will only get you so far in life. To be really obscenely successful in this life you must be able to convince and persuade others and to lead.

                              I have delivered some important speeches and I intend to deliver some more.

                              If you want to be running a multimillion dollar business or own one then you will have to deliver some great speeches to large and small crowds. Ignoring that reality isn't going to make it anymore likely to happen.

                              Originally posted by GingerMilla View Post

                              Why the love of Leinster rugby or rugby in general? Did you play the game yourself?
                              Is the current Irish team the best ever?
                              My Dad.

                              I didn't get to play due to my Dad falling out with the local club during my formative years. I wouldn't have been great as I was a poor athlete even though I played lots of sports. I enjoy lots of sports regardless of that and I always gave an honest effort and took pride in little small personal sporting victories.

                              The current Irish team is the best ever due to professionalism allied with talent but I had a soft spot for a number of teams over the years and it wasn't all about ability but giving of their best with the restrictions that they faced.

                              Originally posted by GingerMilla View Post
                              Finally having played against you a few times over the years in the SE and Fitz, how are you such a bad player, especially bearing in mind that you are successfull and work hard to be in every other aspect of your life?
                              I think in my mind I know exactly what I need to do to be sucessful at poker but actually that would ruin the reasons why I play it. I play very little now and purely for fun as I was sick of not playing "properly" and leaking money to people I had very little time for. When I play focused for a while I generally do okay but then I get distracted/bored and just blow it. These days I prefer to play for €100 and have some banter with the guys taking it very seriously as it gives me a great laugh to see the furrow of concentration on their brows.

                              It's a bit like why I never got any good at chess. I just wasn't motivated by the challenge of beating someone at chess or poker. It's just not the sort of success I crave....if that makes sense.
                              Last edited by V for Vendetta; 30-09-11, 17:32.
                              ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

                              Comment


                                #75
                                I have 125euro to spare right now, what should I do with it?

                                Comment


                                  #76
                                  Originally posted by davepoke/her View Post
                                  I have 125euro to spare right now, what should I do with it?
                                  Bet on black.

                                  It's been fun folks. Goodnight.
                                  ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

                                  Comment


                                    #77
                                    Which industry in China will experience the most growth over the next 10 years and do you have any Chinese companies in mind as potential investments?

                                    If you were to pick one company to hold stock for 10 years which would it be?

                                    Will Ireland exit the euro in the next 5 years? Will Ireland default?

                                    Best way to protect net worth while the markets decide who to fuck over next?
                                    Last edited by CheckRaise; 30-09-11, 20:19.

                                    Comment


                                      #78
                                      Do you think brown-nosing and weaselling are good attributes for success? Imo you need these "social" skills to move up. I've worked with people of whom it was said you could only see the soles of their shoes they were so far up their boss. You say the intelligence of those at the top isn't great, but they got there somehow.

                                      I have a few B shares in Berkshire Hathaway. What happens when 81 year old Warren Buffett expires?

                                      Comment


                                        #79
                                        Originally posted by kincsem View Post
                                        I have a few B shares in Berkshire Hathaway. What happens when 81 year old Warren Buffett expires?


                                        Nice thread OP.

                                        Would you rather own Nokia or Apple shares for a 5 year investment?

                                        What do you say when you're told that managed funds have underperformed index trackers over all time horizons?

                                        Recommendation of country to visit and best and favourite Dublin restaurant

                                        Comment


                                          #80
                                          Originally posted by CheckRaise View Post
                                          Which industry in China will experience the most growth over the next 10 years and do you have any Chinese companies in mind as potential investments?
                                          Robotics.

                                          Actually I prefer a Japanese robotics company called Fanuc which is selling into China.

                                          Also I reckon China is about to stall.


                                          Originally posted by CheckRaise View Post
                                          If you were to pick one company to hold stock for 10 years which would it be?
                                          Fresenius Medical Care or some stock like that which is well run and should continue to grow irrespective of the short term macro story.


                                          Originally posted by CheckRaise View Post

                                          Will Ireland exit the euro in the next 5 years? Will Ireland default?

                                          Now that's a toughie.

                                          We'll probably stay in the euro and if we do default it will be an agreed write down of some debt rather than across the board. We have been annointed for success I feel.

                                          Originally posted by CheckRaise View Post

                                          Best way to protect net worth while the markets decide who to fuck over next?
                                          lol. Spread it around and invest in quality. If you lose 20% and ride out the storm it might be a result. I just don't buy the commodity story and currency risk scares me.
                                          ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

                                          Comment


                                            #81
                                            Originally posted by kincsem View Post
                                            Do you think brown-nosing and weaselling are good attributes for success? Imo you need these "social" skills to move up. I've worked with people of whom it was said you could only see the soles of their shoes they were so far up their boss. You say the intelligence of those at the top isn't great, but they got there somehow.
                                            You seemed to be obsessed by this topic Sean. I don't believe in brown nosing myself as it lacks a certain independence of thought and attitude. Lots of people do climb to a certain level that way though. I don't think it's necessary but it may be in certain organisations that's for sure. I'd personally hate to work that way and just leave those places.

                                            I would never treat someone discourteously in business though. It costs nothing to act with a bit of class and people remember it.

                                            Lots of attributes combine to make someone successful including luck and randomness. My ego isn't so big that I don't acknowledge that every day of my life.


                                            Originally posted by kincsem View Post
                                            I have a few B shares in Berkshire Hathaway. What happens when 81 year old Warren Buffett expires?
                                            I'd imagine it's priced into the stock!! I was disappointed to see them announce that they are buying back their own stock but you could take it as a lead indicator that the financial markets won't go into meltdown I guess.
                                            ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

                                            Comment


                                              #82
                                              Originally posted by HiCloy View Post
                                              Thank you sir.

                                              Originally posted by HiCloy View Post
                                              Would you rather own Nokia or Apple shares for a 5 year investment?
                                              Apple. I reckon Nokia has way too many legacy problems and will go the way of RIM.

                                              Originally posted by HiCloy View Post

                                              What do you say when you're told that the average managed funds have underperformed index trackers over all time horizons?
                                              FYP It's a fair comment otherwise.

                                              Originally posted by HiCloy View Post
                                              Recommendation of country to visit and best and favourite Dublin restaurant
                                              ooh a nice question to finish with.....

                                              I loved California except for LA and SF. San Diego, Santa Barbara, Monteray and Yosemite are great spots and I will be going there again. For a weekend trip Lisbon is a lovely, cheap and easy spot to visit. Great pastry cooking too.

                                              Best Overall Restaurant in Dublin for me is probably Chapter One.

                                              For something a little bit down the food chain I'm enjoying Il Segreto at the moment (some people wouldn't go there because of the owners but I believe in giving a third chance if the food is that good!).

                                              I'm also a big fan of the Thyme Garden in Athlone if you are ever down that way. A small country place with a chef/owner who takes great pride in his work and is very reasonably priced. It's a nice way to break up a journey on a weekend break to Galway!

                                              Oh and if you are ever in Edinburgh I can't recommend the Number One restaurant enough. The best Michelin starred restaurant I've eaten in to date.

                                              Okay guys I'm really done now. Thanks for all the nice comments on the thread. I can actually say I enjoyed doing it!!
                                              ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

                                              Comment


                                                #83
                                                Originally posted by V for Vendetta View Post
                                                You seemed to be obsessed by this topic Sean. I don't believe in brown nosing myself as it lacks a certain independence of thought and attitude.
                                                The top guy in Bank Of Ireland was in the B class in Oatlands CBS (classes A,B,C,D) in my brother's year (one year behind me.) imo these people are just yes people to the top guys, until they get their chance. Sadly much of the top layer is non-performing, and decision making is non-existent. Group think / consensus opinion rules.

                                                I agree with your idea of putting a few Euro into pension and AVCs. I tried to convince a work colleague to put a small amount into savings (he was paying too much tax). No chance. I was putting 20% into pension and also saving by AVCs, and took early retirement at 56. The company went bust two year later.

                                                My big regret was failing to convince a guy I worked with in 2006 to stop his son taking out a €500k 100% mortgage. I asked the father could the son pay 10% interest if he had to. I said it was a property bubble. He told me EC was sound, and economic instability was the "old days".
                                                Last edited by kincsem; 03-10-11, 18:29.

                                                Comment


                                                  #84
                                                  Originally posted by V for Vendetta View Post
                                                  You seemed to be obsessed by this topic Sean. I don't believe in brown nosing myself as it lacks a certain independence of thought and attitude.
                                                  One of the top government ministers in the last administration was in my Leaving Cert class.
                                                  His claim to fame was he was from a political family. He was ok, but mid-division. We need better leaders.

                                                  Comment


                                                    #85
                                                    really enjoyed reading this Olly. Thanks very much!

                                                    Would love to chat over a coffee some time. Admire the direction and focus you have shown, fair play!
                                                    GAA News Website

                                                    Comment


                                                      #86
                                                      Only seen this thread now what a great read, thanks for doing it.

                                                      Comment

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