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Rich People's Thread

Discussion in 'General Chat' started by Garpal Gumnut, Mar 12, 2009.

  1. Garpal Gumnut

    Garpal Gumnut

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    I am totally pissed off reading on ASF about punters on Centrelink and Sickness Benefits discussing Richie Rich Rudd's handouts and other minor matters.

    May I start a thread for those of us of means.

    I have sold down over the last 2 years my stocks and am stuck with some property.

    Let us have a thread for those of us a net worth more than 5 million.

    Where to from here?

    Stock accumulation. REITs or stay in cash?

    gg
     
  2. Ageo

    Ageo

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    Boasting are we GG :cool:
     
  3. beamstas

    beamstas

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    All on red :D

    Thanks
    Brad
     
  4. Garpal Gumnut

    Garpal Gumnut

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    No mate, not boasting , had a vf huge fortune, now just have a f huge one.

    Lost a fair bit.

    Just honest

    gg
     
  5. cuttlefish

    cuttlefish

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    Thats very irresponsible advice beamsta's ....

    ... everyone know's blacks got much better odds. :D
     
  6. beamstas

    beamstas

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    I can see it on the papers tomorrow..
    Disgruntled forum poster loses fortune on red -- sues fellow forum go-er for giving misleading financial advise as black clearly has better odds -- :D
     
  7. beerwm

    beerwm

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    true,

    all poor people do is whinge and whine,

    we live in a country where hardwork/purpose/ambition can make you rich quick.

    If you're in a position where you need $900 you have failed the 'money' game.
    [bar those with immense hardships]
     
  8. Gordon Gekko

    Gordon Gekko

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    Wow GG 5m!!
    You should be sleeping on a large pile of money with many naked beautiful women.
    Or better yet take one of them to Orpheus Island Resort so you can show them how much of a high roller you are!!:)

    All I got to say is nice work mate. How ever you got it, whether it was given or you made it. You still got it and that is a hard thing to achieve over years.

    I'm 33 and there is no doubt in my mind that I will do the same.

    Best of luck

    G
     
  9. tech/a

    tech/a No Ordinary Duck

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    Its going to be tough.
    Already noticing those here in Civil Works as I am buying work.(Pricing just to keep people employed and "Hoping" for variations to churn a profit).
    A few Construction Companies have gone Belly up and hear a few more dont look real good---would suprise many who--but they are rumors.

    Worse
    Had a large contract pulled from under us only this week.
    Letter of intent,our production met with their production and mapped out start dates.Friday placed many large orders.
    Tuesday (Holiday here Monday)
    Email---Due to Economic Downturn we have decided to produce these works from within---thank you for---blah blah.
    This is going to happen more as we get used as a pricing service---

    To a personal level.
    Doing some re adjusting with trusts and property coupled with SMSF and a veiw of minimising personal gearing.(Not prepared to go into the mitty gritty).

    Trading is really minor relative to the other 2 but generates enough to be "Handy". Not prepared to trade with real size---best utilised elsewhere.

    I'm personally not doing a great deal in the next 12 mths.
    A lot will be gleened in that time.
    I'm looking at interest rates in that time and lock down what exposure I have when I see Unemployment either stop falling or turn Up from down,coupled with an eye on oil--you got it --inflation.

    You wont see these interest rates again-- not in my lifetime.
    Looking to update the fleet as no one wants plant--but not wise unless I can maintain growth--so far thats still happening.

    Property
    Looking to get back into developement later in the year again if----
    And if--if-- is OK the opportunities will be plentiful.
    Must time it right before inflation goes balistic which at sometime it will---hence the gearing.

    Actually I love these times a REAL challenge.
     
  10. nizar

    nizar

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    Good work brother.
    I agree wholly, and though I don't qualify, I'll follow this thread with interest.
     
  11. Dowdy

    Dowdy

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    5 million is nothing.

    I've got 5 trillion - in Zimbabwe dollars
     
  12. Trevor_S

    Trevor_S

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    Then sues the Bank for letting him take the money out in the first place ... They should have know better !:banghead:
     
  13. beamstas

    beamstas

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    I have 20 trillion in nigerian dollars
    And an email from the princes son-in-law to prove it.

    It is currently sitting in my nigerian bank account waiting for me to withdraw it.
     
  14. Gundini

    Gundini

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    Thank God for some positive news! It's been gloomy on here...

    While I don't qualify, will be keeping some tabs on you rich folk since you have gone public! :D

    Good work GG...
     
  15. Dukey

    Dukey

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    I've got a better idea than this elitist bullcarp GG.

    why don't you with all your nouse and savvy dollar-smarts, do something useful and start an 'investment for poor people' thread where you can impart a small measure of your valuable knowledge and gloriousness onto the whining plebs?? tell them how to become a millionaire like you.

    - or you could rebalance the equation and donate your much needed property to the salvos.

    $900 is a mint to some poor buggers who have probably deserved better since birth.

    ... actually - dunno why I'm even bothering myself with this minor rant. It'll just tickle your fancy i expect.

    - please do continue..
    - live and let die...
    - move along folks - nothing to see here.

    over and out from me...
     
  16. Garpal Gumnut

    Garpal Gumnut

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    Your experience mirrors mine, though I'm not as close to the action on the ground as you are. Many mates of mine concur and have similar stories.

    The beaming comments from your reply on a macro level are


    I'm looking at interest rates in that time and lock down what exposure I have when I see Unemployment either stop falling or turn Up from down,coupled with an eye on oil--you got it --inflation.

    You wont see these interest rates again-- not in my lifetime.



    thanks tech

    gg
     
  17. Gundini

    Gundini

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    No doubt this thread was started to create controversy!

    Seems we didn't have to wait long :eek:
     
  18. Garpal Gumnut

    Garpal Gumnut

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    No mate, its aussiestocksforum.

    This thread is for
    those with equity, not those unfortunate not to be of means.

    Harden up mate.

    gg
     
  19. Gundini

    Gundini

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    I was actually talking about Dukeys post.

    And don't worry GG, I may be without your means, but my skills are such that I would be one of the people you source. :cool:
     
  20. Garpal Gumnut

    Garpal Gumnut

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    sorry mate.

    gg
     
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