Australian (ASX) Stock Market Forum

Storm Financial Group

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Specialed. It's exactly what happened. You (we) were financially raped by a rogue who tag-teamed you with a bank who provided them the fiscal condoms to do so.

Without lubricant.
 
. Specialed



those who appear to repeatedly have issues with the role of SICAG...That I just dont understand...It would appear to me that if the members of SICAG had an issue with how that support group was being run, then they would simply not continue to be members.
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1. They by definition are unsophisticated
2. They supported Manny with the same vigour.
3. Some have, at the top of SICAG, in the past very close relationships with Storm.
4. SICAG at no stage have made any adverse comment about Cassimatis.

I could write 50 reasons son, but you are a blind man in the land of the one eyed.

Gg
 
Ironhalo said:
Specialed. It's exactly what happened. You (we) were financially raped by a rogue who tag-teamed you with a bank who provided them the fiscal condoms to do so.

Without lubricant.
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What is disappointing for me to observe is that some Stormers made critical life decisions based on the advice they received.
Some shut down their businesses/ceased employment and transitioned to a life of retirement or semi-retirement.
It is this subset of Stormers that I wish do find a way forward to ensure a secure future after the implosion.
I'm sure that many are fearing that their plight is now falling into ancient history and public interest is waning.
 
Solly said:
What is disappointing for me to observe is that some Stormers made critical life decisions based on the advice they received.
Some shut down their businesses/ceased employment and transitioned to a life of retirement or semi-retirement.
It is this subset of Stormers that I wish do find a way forward to ensure a secure future after the implosion.
I'm sure that many are fearing that their plight is now falling into ancient history and public interest is waning.
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I'm cynically wondering if this factor has any bearing on the constant delays in ASIC updates, and the tardiness of any outcome from their ever-so-slow investigations....
 
"Storm loss claims rejected"

"The Commonwealth Bank has rejected claims from the founders of Storm Financial that it should pay them back $17 million in alleged losses"

More by Mitch Gaynor on page 9 in The Sunday Mail of Sept 12, 2010.
 
Garpal Gumnut said:
There is a lull in the affairs of Storm Investors.

Everyone has an opinion .

The world moves on.

Storm "investors" in my opinion have Buckley's chance of recovering their losses.

There is no groundswell to punish those whose alleged negligence caused their losses.

In no particular order

Financial Planners
Financial Planners Association
Storm Financial
Cassimatis
ASIC
Banks

Let us move on and finish this thread, it is a useless exercise.

gg
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This is an entry from the 20th February 2009.

True then.

True now.

gg
 
Garpal Gumnut said:
This is an entry from the 20th February 2009.

True then.

True now.

Qgg
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Gee mate looks like your words of wisdow are showing substance in reality. But I hope there is some light ahead for the Stormers.

I see you are residing at Lennons at the moment, it's a pity I'm off shore otherwise I'd drop up and shout you a lunch time refreshment in the newly spruced up Burnett Lane.

Although I am running into a little strife with Lady P anyway, been spending a bit too much time in the local nakamal :)
 
"It seems crass that the so-called action group and rival law firm Levitt Robinson are now
attacking Slater and Gordon for helping as many people as quickly as possible."

Read more of Tony Raggatt's comment in the Townsville Bulletin here;

http://tiny.cc/kgwik
 
Solly said:
Gee mate looks like your words of wisdow are showing substance in reality. But I hope there is some light ahead for the Stormers.

I see you are residing at Lennons at the moment, it's a pity I'm off shore otherwise I'd drop up and shout you a lunch time refreshment in the newly spruced up Burnett Lane.

Although I am running into a little strife with Lady P anyway, been spending a bit too much time in the local nakamal :)
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She won't get you in a nakamal mate. A bloody good place to hide imho.

I've been looking for a new Motley Crewe Vehicle and have been driving the present Arnage all about the place chasing a GFC bargain.

The present one has a funny rattle above 160kph and its driving me bonkers.

Any more news on Criminal proceedings with Storm?. The occupancy rate in most hotels in Brisvegas was woeful this month 30-35% one bloke told me, so hopefully there will be some bargains for the trials.

There should be some criminal proceedings against the perpetrators by Sept/Oct 2011, last I heard.

gg
 
Garpal Gumnut said:
She won't get you in a nakamal mate. A bloody good place to hide imho.

I've been looking for a new Motley Crewe Vehicle and have been driving the present Arnage all about the place chasing a GFC bargain.

The present one has a funny rattle above 160kph and its driving me bonkers.

Any more news on Criminal proceedings with Storm?. The occupancy rate in most hotels in Brisvegas was woeful this month 30-35% one bloke told me, so hopefully there will be some bargains for the trials.

There should be some criminal proceedings against the perpetrators by Sept/Oct 2011, last I heard.

Yes wish we had nakamals back round the Cove, it's a good retreat, almost as good as Les Hiddens camps up north round the Normanby.

gg
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Mate last I heard is that Uncle Tony's mob were due to make another announcement very soon. Maybe it's been been delayed because of Oak'shouts' speech and the current political instability. BTW has he finished talking yet?

I'll be interested in the upcoming delayed announcements from the bureaucracy about recommendations of proceedings, if any.

Not sure what would be another good Motley Crewe Vehicle.
A sloppy front end on an Arnage is unusual. Have you checked to see you haven't got a former Townsville Financial Adviser caught in the grill, that could be throwing the balance and aerodynamics out at that speed.

Got issues with Lady P at the moment, the novated lease on the Crown is almost up and she's pressuring me to get a Hybrid. Now I know she voted Green :0

Got to get the tinnie taxi back over lagoon now and the 2G on the Crackberry is real patchy here, hope I don't miss any action while I'm away.

Yes, wish they have nakamals around the Cove, they are a great escape and almost as good as Les Hidden's camps around the Normanby.
 
We can only hope that it provides some closure to storm clients.

The thing I still cannot get my head around is that why it took so long for the CBA to close the unlisted funds. I assume they were unlisted white badged funds. From what I recall from the disposition of CBA (and I take its comments at face value OK?) to the Parliamentary Inquiry, the four funds went from $700M to about $44M after around $560M of redemptions (presumably the smarties or those in the know were getting out) associated with the decline in the market at that time.

I just wonder what, if any, trigger is in place to determine when a fund is no longer viable. Heck, if the underlying assets were some $44M and there was, say, $200M outstanding in loans, there is no way to save a sinking ship.

As for the Furphy going around that some insider trader got cheap shares, just have a look at the number of weighted BHP shares in STW (which covers the ASX 200.) Not even a single trade in a blink of any eye.

Oh well, that's the way of it I suppose. Some win, some lose. Ain't no contract with life to say it must be fair.
 
Judd said:
We can only hope that it provides some closure to storm clients.

The thing I still cannot get my head around is that why it took so long for the CBA to close the unlisted funds. I assume they were unlisted white badged funds. From what I recall from the disposition of CBA (and I take its comments at face value OK?) to the Parliamentary Inquiry, the four funds went from $700M to about $44M after around $560M of redemptions (presumably the smarties or those in the know were getting out) associated with the decline in the market at that time.

I just wonder what, if any, trigger is in place to determine when a fund is no longer viable. Heck, if the underlying assets were some $44M and there was, say, $200M outstanding in loans, there is no way to save a sinking ship.

As for the Furphy going around that some insider trader got cheap shares, just have a look at the number of weighted BHP shares in STW (which covers the ASX 200.) Not even a single trade in a blink of any eye.

Oh well, that's the way of it I suppose. Some win, some lose. Ain't no contract with life to say it must be fair.
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I know some of the jokers who run these funds. They are not, believe me all that bright.

Often they are the idiot sons, daughters or bastards of some long dead politician, doctor or grazier.

I can just see them panicking and swallowing Zanicks as the **** hit the fan.

The only safe investment is a piece of fruit in a supermarket, at least if Woolies goes broke before you get to the checkout chick, you can eat it, and be ahead.

These poor Storm bastards believed the bigger bastards.

That's the nuts of it all.

gg
 
My contacts within certain entities indicate that the present euro problems against which some "important" folk have gone long ( as one would ) are now unwinding with extreme capital loss. !!! :)

Please watch for further imminent developments and act appropriately.

Could be a game changer within the week.

gg
 
"Let the fights fizzle out
Last week another Australian bank stepped forward to do the right thing."

"...outside of the banks and those who held the puppet strings within Storm, another fight is brewing.

There have been murmurs within Storm investor camps that litigators involved in putting forward client claims have begun fighting internally."

More by Kate Kachor in Investor Daily here;

http://www.investordaily.com.au/cps/rde/xchg/id/style/10190.htm
 
Anyone know what Manny and Julie are up to these days? Are they trying to get back into the financial planning game and help people plan for their futures?

When is their website going to be up and running again? I was keen to see an update on how his crusade for justice was tracking along?

I guess, given he felt the effects of the Storm collapse more than anyone else, and what those nasty banks did, that he is locked away in his multi million dollar mansion trying to work out how he will survive?
 
More importantly does anyone know what ASIC is doing - they were supposed to have come up with some resolution scheme by the end of August - but which year?
 

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