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Australian Members - Page 2614

post #39196 of 54935
Quote:
Originally Posted by Petepan View Post
 

To Foxhound: "If you all must know. I bust my ass in a pizza joint to purchase my things."

 

That's heartening to hear.  I know of a particular forumite who regularly post his purchases for all to see as an ego-stroke. We are talking bespoke shoes from Bestetti, on top of Lobbs and Cleverleys, bespoke suits from Saville Row, Chan etc on a close to monthly basis, customised cufflinks with Burmese jade, Audemar Piguet watch, ties from Marinella etc.  The total costs of his purchases exceeded by far any possible range of employment incomes for someone in his position (a recent graduate with degrees in some communication/political shit). 

 

The main message is that for you (and other younger members just out of uni), your main asset= a long time horizon in which you can compound your savings. Just simple mathematics, $10 invested wisely at a compounded rate of 10% per annum will double roughly every 7 years, so your $10 becomes $320 after 35 years.  Up the return rate to 18% per annum, and your $10 saved today becomes over $10,000 in 36 years. I can assure you that none of your normal SF items will appreciate in price at that rate.

 

Save some of it, dont blow it all.  Even the best shoes will look shabby after 35 years. 

 

Forgive my ignorance, but short of extending a line of unsecured credit and reaping the interest from suckers, or some lucky speculative stock market work, how is 18% p.a. consistently achievable?

post #39197 of 54935
Quote:
Originally Posted by Petepan View Post

To Foxhound: "If you all must know. I bust my ass in a pizza joint to purchase my things."

That's heartening to hear.  I know of a particular forumite who regularly post his purchases for all to see as an ego-stroke. We are talking bespoke shoes from Bestetti, on top of Lobbs and Cleverleys, bespoke suits from Saville Row, Chan etc on a close to monthly basis, customised cufflinks with Burmese jade, Audemar Piguet watch, ties from Marinella etc.  The total costs of his purchases exceeded by far any possible range of employment incomes for someone in his position (a recent graduate with degrees in some communication/political shit). 

The main message is that for you (and other younger members just out of uni), your main asset= a long time horizon in which you can compound your savings. Just simple mathematics, $10 invested wisely at a compounded rate of 10% per annum will double roughly every 7 years, so your $10 becomes $320 after 35 years.  Up the return rate to 18% per annum, and your $10 saved today becomes over $10,000 in 36 years. I can assure you that none of your normal SF items will appreciate in price at that rate.

Save some of it, dont blow it all.  Even the best shoes will look shabby after 35 years. 

Yeah, and try and get laid.
post #39198 of 54935
Petepan is posting from Nigeria evidently.
post #39199 of 54935
Quote:
Originally Posted by Marbles View Post
 

 

Forgive my ignorance, but short of extending a line of unsecured credit and reaping the interest from suckers, or some lucky speculative stock market work, how is 18% p.a. consistently achievable?

BRK returned close to 20% pa for over 40 years.

 

Walter Schloss returned 21% (before fees) for nearly 46 years.

 

Joel Greenblatt's hedge fund returned 50% pa for over 10 years before it was closed to outsiders. 

 

Closer to home: PIE Funds in NZ 35% pa since inception over 5 years ago, WAM Capital close to 19% pa for over a decade, Bronte Capital have more than doubled investor funds since inception 3 years ago.

 

Local shares- CSL, COH, Westfield, MND- just a small sprinkling of examples.  Even Telstra first tranch and CBA investors have done very well.

 

We are not talking lucky speculative stock market work as you glibly put it. We are talking consistent investments over long periods of time to generate above average returns.

 

Going even further, how about saving up capital and starting a small business?  If successful, returns will be many multiples of initial investment. If it goes bust, then save up again, have another go.  The returns are asymmetric.  Just ask John Simonds, "we'll save ye!"

 

I never said it would be easy. As if it is possible to build wealth without any effort, intelligence and discipline!!

post #39200 of 54935
Quote:
Originally Posted by ryanohare View Post

Petepan is posting from Nigeria evidently.

And you obviously hail from Lake Wobegon, where all the children are above average.

post #39201 of 54935
Quote:
Originally Posted by The Ernesto View Post

lol. Don't take this the wrong way, but some of your posts are very funny. Like some random diary entries of well to do eccentric.

Friday the 10th: Chilly out. Wore the Barbour. Barbequed and then some new Churches. Dotty due at five for cocktails.
FH is bringing style back to adolescence. He spends his money on Church's not Nikes... Seriously what is there not to like about that?
post #39202 of 54935
Quote:
Originally Posted by Petepan View Post

BRK returned close to 20% pa for over 40 years.

Walter Schloss returned 21% (before fees) for nearly 46 years.

Joel Greenblatt's hedge fund returned 50% pa for over 10 years before it was closed to outsiders. 

Closer to home: PIE Funds in NZ 35% pa since inception over 5 years ago, WAM Capital close to 19% pa for over a decade, Bronte Capital have more than doubled investor funds since inception 3 years ago.

Local shares- CSL, COH, Westfield, MND- just a small sprinkling of examples.  Even Telstra first tranch and CBA investors have done very well.

We are not talking lucky speculative stock market work as you glibly put it. We are talking consistent investments over long periods of time to generate above average returns.

Going even further, how about saving up capital and starting a small business?  If successful, returns will be many multiples of initial investment. If it goes bust, then save up again, have another go.  The returns are asymmetric.  Just ask John Simonds, "we'll save ye!"

I never said it would be easy. As if it is possible to build wealth without any effort, intelligence and discipline!!


polls_bigstockphoto_Young_Man_Giving_Thumbs_Up_Sig_2435620_4011_578478_answer_3_xlarge.jpeg
Cool story bro.
post #39203 of 54935
Quote:
Originally Posted by The Ernesto View Post

lol. Don't take this the wrong way, but some of your posts are very funny. Like some random diary entries of well to do eccentric.

Friday the 10th: Chilly out. Wore the Barbour. Barbequed and then some new Churches. Dotty due at five for cocktails.

rotflmao.gif
post #39204 of 54935
Quote:
Originally Posted by Prince of Paisley View Post

FH is bringing style back to adolescence. He spends his money on Church's not Nikes... Seriously what is there not to like about that?

I agree and at the end of the day, it's his money to spend.
post #39205 of 54935
Quote:
Originally Posted by Prince of Paisley View Post

FH is bringing style back to adolescence. He spends his money on Church's not Nikes... Seriously what is there not to like about that?

His post made me chuckle. Nothing more to it than that.
post #39206 of 54935
Quote:
Originally Posted by Petepan View Post
 

BRK returned close to 20% pa for over 40 years.

 

Walter Schloss returned 21% (before fees) for nearly 46 years.

 

Joel Greenblatt's hedge fund returned 50% pa for over 10 years before it was closed to outsiders. 

 

Closer to home: PIE Funds in NZ 35% pa since inception over 5 years ago, WAM Capital close to 19% pa for over a decade, Bronte Capital have more than doubled investor funds since inception 3 years ago.

 

Local shares- CSL, COH, Westfield, MND- just a small sprinkling of examples.  Even Telstra first tranch and CBA investors have done very well.

 

We are not talking lucky speculative stock market work as you glibly put it. We are talking consistent investments over long periods of time to generate above average returns.

 

Going even further, how about saving up capital and starting a small business?  If successful, returns will be many multiples of initial investment. If it goes bust, then save up again, have another go.  The returns are asymmetric.  Just ask John Simonds, "we'll save ye!"

 

I never said it would be easy. As if it is possible to build wealth without any effort, intelligence and discipline!!


So what is the minimum 'buy-in' for these funds, assuming they would have you? I note that Walter Schloss only managed funds for 92. Good work if you can get it...

 

I asked out of genuine interest, as I've just bought my first property - as an investment in both senses- and find myself wondering if that will return 18%, or maybe I should have invested with PetePan Inc.

post #39207 of 54935
Quote:
Originally Posted by Marbles View Post
 


So what is the minimum 'buy-in' for these funds, assuming they would have you? I note that Walter Schloss only managed funds for 92. Good work if you can get it...

 

I asked out of genuine interest, as I've just bought my first property - as an investment in both senses- and find myself wondering if that will return 18%, or maybe I should have invested with PetePan Inc.

The info you require is easily available just a few clicks away.  Bronte may be too high to buy in now.  You know the price of BRK, PIE and WAM.

 

My point about Schloss is more to do with the 46 years.  You could have bought in at year 10, year 15 or even year 20, and did mightily well out of it.

 

I probably would not view a home that you live in as an "investment".   It is for shelter, peace of mind and to build happy memories. And even if it is an investment, it is quite unlikely to return 18% pa.  The medium term aim is basically just to quickly pay down the mortgage, until you get to about 10 years of repayment left (based on conservative assumptions). Then redirect excess savings to investments. 

 

As I said initially, it takes time to build wealth.  So try not to piss away the time like I did in my younger days.

 

As to PetePan Inc, you will have to PM me.

post #39208 of 54935
Quote:
Originally Posted by Petepan View Post

I was just kidding around.

I know. No worries smile.gif
post #39209 of 54935
Quote:
Originally Posted by Gerry Nelson View Post
 

 

Why?

 

Plain and simplistic, totally easy, completely effortless, never a bad choice.

 

Without a jacket, sweater, etc plain blue/patterns just look odd.


Edited by LonerMatt - 10/10/13 at 11:21pm
post #39210 of 54935

So much hate for younger guys wearing streetwear.

 

People probably would hate me ;).

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