Storm Financial Group

[bunyip]

Bunyip loved your off topic subject I'm very interested in aboriginal mythology. I love Ion Idriess and reckon he should be on top of everyone's to read list. I have an old drover friend who lends me his considerable collection of Ion Idriess books and have been slowly making my way through them all. Recommended reading to anyone interested in the early years of Australia. Have you read the one based on his experiences during World War 1 and his time at Gallipoli in the trenches and his experiences in Egypt as he was a light horseman. Highly recommend it to anyone interested in how these men survived, can't remember the title of it, but you wonder 'how did these men bath, eat, sleep etc,..he explains it all so well you feel like you're in the trench with him, just amazing. I'm interested as my grandfather was one of the original ANZACS.

As for getting off topic sometimes that 's not such a bad thing as life is good and we should all enjoy every moment of it and stuff all the other stuff that gets in the way. When you think about what the men went through in the wars that this country has been involved in perhaps our little problems are just that little, at least we're still alive to fight on.

No HQ, I haven't read the one about his war experiences. Now that you've made me aware of it I must call into the local library and see if they've got it.

I'll bet your old drover friend could tell a few tales! When I was 18 I was fortunate enough to do two droving trips with one of the last of the drovers, a 65 year old bloke called Merv from Chinchilla in Queensland. I still have a Condamine bell he gave me as a memento of our droving trips together. We'd hobble out our horses each evening, tie a Condamine bell around their necks, and let them loose in the bush. They wouldn't stray far from camp and we'd easily find them next morning by the tinkling of their bells as they moved around.
Merv's wife used to complain that it was a waste of time taking him to any function at night because he'd just fall asleep.
If she took him to a dance he'd go to sleep sitting against the wall. If she took him to a restaurant he'd fall asleep at the table.
After a lifetime of droving when he'd go to sleep at dark and wake at dawn, his body clock was so deeply programmed that he just couldn't stay awake after darkness fell.

Apologies to the forum for getting off topic yet again – Harleyquin and I will do our best to stay on topic from now on!

 

[Knobby22]

Great story Bunyip.

 

[bunyip]

Re: Ignorance

Upon recently stumbling across this web site I was pleasently surprised, although reading some of the recent postings on your site regarding Storm Financial I have found that most of your members seem to be ill informed. I have been an investor with Storm for the last 4 years and have found this company to be nothing less than fantastic. Anyone that finds themselves invested in the stock market in these economic times will be finding it difficult, some more than others. Whilst reading some of the comments made by members of this site it sickens me to think that you can be so ignorant to the facts in this matter. Throughout this ordeal we have been in constant contact with Storm with updates on ours and their postion. I'm sure if you asked Coloniel lending some of the tougher questions being thrown Storms way you would have a greater understading of the mess in which Storm finds themselves. As for Storm taking it's clients on a fully paid for overseas holiday to Africa, this is nothing but utter rubbish. Anyone who choose to go on this trip was self funded. Remember not everthing that the media writes is gosspel. We should all be aware of the gossip mongering that has been created throughout this controversay. I, as a client of Storm Financial will be with them all the way.
Here's to a better economic year ahead!

Solly, in answer to the question "Does Manny ever trawl this site"?, I'd say it's a pretty safe bet that he sneaks in here for a look every so often.
I wonder if the post above was written by him?

 

[bunyip]

Ask yourself why ASIC is now litigating against these banks? Do you think ASIC is doing this for kicks? Do you think ASIC has nothing better to do with its time?

When people accept that the Banks have a case to answer, a sensible debate can then ensue. Bear in mind that ASIC started litigation proceedings against these Banks after conducting one of the most exacting investigations in its history which has cost millions. ASIC has gathered literally millions of documents on its central data-base to draw on. If there isn’t a case to answer, why does ASIC believe otherwise?? ASIC has spent millions to bring these Banks to account?

Frank

In the unlikely event of your class action resulting in the banks being ordered to pay 100% of your losses, will you accept the money?

 

[Solly]

Re: Ignorance

Solly, in answer to the question "Does Manny ever trawl this site"?, I'd say it's a pretty safe bet that he sneaks in here for a look every so often.
I wonder if the post above was written by him?

bunyip, I'm getting the guys in the lab to compare the grammar and syntax of the above post to the responses in the transcripts from the Inquiry in an attempt to get a definitive answer. Early results indicate, probably "Pennywise... but pound Foolish" :

 

[Garpal Gumnut]

Re: Ignorance

bunyip, I'm getting the guys in the lab to compare the grammar and syntax of the above post to the responses in the transcripts from the Inquiry in an attempt to get a definitive answer. Early results indicate, probably "Pennywise... but pound Foolish" :

I had a comparo earlier. There is a certain similarity. Spelling mistakes fit as well.

gg

 

[Solly]

Re: Ignorance

I had a comparo earlier. There is a certain similarity. Spelling mistakes fit as well.

gg

GG,

I always suspected you had a Cray crunching away in your digs.

I'm sure it would have been a simple task to run the spell checker over those "cookie cutter" templates. It appears this was also a task that was a bridge too far as well.

S

 

[Garpal Gumnut]

Re: Ignorance

GG,

I always suspected you had a Cray crunching away in your digs.

I'm sure it would have been a simple task to run the spell checker over those "cookie cutter" templates. It appears this was also a task that was a bridge too far as well.

S

I haven't updated, very fond of my XE6, thus the delay.

gg

 

[bunyip]

Solly and GG

You fellers are in the wrong game....you should have been detectives.

 

[Solly]

Solly and GG

You fellers are in the wrong game....you should have been detectives.

bunyip...maybe we are, just a couple of concerned ol' gumshoes

 

[Harleyquin]

Solly I haven't looked at this thread for a couple of days but want to say that Doks comments pretty much sum up what our advisor told us. They told us that our investments were being closely monitored by their experts. We fell for it hook line and sinker. There was definite deception unless there's something that I don't know.

Sorry to get off topic for another wee while but just love my stories of the early days and read anything I can get my hands on. Bunyip I've just finished reading 'Pieces of Blue' by Kerry McGinnis, a true story, recommended and given to me by a friend on a local station as he's mentioned in it. Loved it, what lessons the young city folk could learn from reading these stories. Don't get me started again Bunyip as it's my sort of topic.

Back on topic again. All of these posts that tell us we should have done this and that rahh rahh rahh...all miss the one point and that is 'these are financial planners who we pay for their brand of expertise' I've also seen amongst my official paperwork information that distinctly disproves what you've said in two of your recent posts Doobsy. You guys can make all the excuses in the world why we should have done things differently.

Many of you on this thread ,don't believe in financial planners, you only believe in manageing your own investments, and you've repeated this many times. You also say 'do your research' but I don't see any specific advice for doing your own research other than reading books on the subject.

Now we've got the FPA and banks all offering their financial planning services again via recent television advertisements. If you are a forum member who believes so strongly in not believing and taking financial advice from those who are supposedly licensed. These people are still out there peddling their wares, in fact, so many of the storm advisors are still advising with other companies.

What do you believe needs to be done to prevent these people doing something that most of you don't believe in.

How do you warn potential victims in the future against enlisting the services of people who most of you believe we should never trust.

If Manny and co are peeking on the forum well let them who cares, at least they'll know exactly what we're thinking.

Come on let's be proactive and come up with some positive strategies to prevent the storm financial tragedy reoccurring.

 

[Solly]

Harleyquin

In the 2007 Prospectus this graphic is embedded in section 4. I've always wondered what the Dashboard represents. Does anybody know the meaning of this ?

The position of the indicators on the dials has been of interest to me for a while.

 

[bunyip]

bunyip...maybe we are, just a couple of concerned ol' gumshoes

Solly - Who are those two cats in the photo - surely not you and GG - didn't realise you two were such good looking hombres!!

 

[Garpal Gumnut]

Solly - Who are those two cats in the photo - surely not you and GG - didn't realise you two were such good looking hombres!!

Taken some years ago.

gg

 

[Harleyquin]

Solly I have no idea what that Phormula image means.

Careful gg and Solly may be detectives!!!

Doesn't hurt any of us to have a few detective skills under our belt.

I'd bet one of my last dollars on the recent post being from ec or someone closeby.

 

[Garpal Gumnut]

Solly I have no idea what that Phormula image means.

Careful gg and Solly may be detectives!!!

Doesn't hurt any of us to have a few detective skills under our belt.

I'd bet one of my last dollars on the recent post being from ec or someone closeby.

Hq,

May I ask you again, does Manny have any fans/believers left amongst the Storm investors, any who totally blame the GFC and Banks, and not the Cassimatis.

gg

 

[Julia]

Solly I haven't looked at this thread for a couple of days but want to say that Doks comments pretty much sum up what our advisor told us. They told us that our investments were being closely monitored by their experts. We fell for it hook line and sinker. There was definite deception unless there's something that I don't know.

I don't doubt that they made such promises to you. And you've explained that you just trusted whatever was said by Storm. I guess we all approach our decisions in different ways but if someone had suggested to me that I borrow and then borrow on those borrowed funds, assuring me that they "had strategies in place to ensure the family home would never be affected", I'd be asking them to explain in detail just what those strategies were.

Why? Because it just doesn't sound credible that you could borrow to such a level and not place the primary collateral at risk.

Many of you on this thread ,don't believe in financial planners, you only believe in manageing your own investments, and you've repeated this many times. You also say 'do your research' but I don't see any specific advice for doing your own research other than reading books on the subject.

That's rather disingenuous of you, Harleyquin. I clearly remember via a series of PM's exchanged with you making many suggestions, including the ultra simple first steps of working through the education modules available on the ASX website and those of many of the brokers.

My memory of your response was that you found it difficult to feel able to work through even such basic information.

Now we've got the FPA and banks all offering their financial planning services again via recent television advertisements. If you are a forum member who believes so strongly in not believing and taking financial advice from those who are supposedly licensed. These people are still out there peddling their wares, in fact, so many of the storm advisors are still advising with other companies.

Fair enough for you to feel bitter toward Storm, but it's less fair to denigrate all financial planners, many of whom do a perfectly OK job for many people.
Going to any financial planner, however, does not remove from the client the basic common sense test or the obligation to keep asking questions until totally sure the suggested strategy is understood.

My understanding of the role of a financial planner is that of collecting information about your entire life and financial situation, and devising strategies, especially with regard to tax, which will work for your unique circumstances, rather than necessarily pushing everyone into an aggressive, risky strategy.

Doobsy earlier outlined a conservative strategy for retirees or those approaching retirement. I'd guess that his approach would likely be that of many financial planners.

I don't see that you should stigmatise the whole industry because you chose to go with a bunch of cowboys.

And no, I don't use a financial planner, because I'm quite clear about my own situation, but if this were to change and I were unsure about e.g. tax implications, I would certainly consult someone.

What do you believe needs to be done to prevent these people doing something that most of you don't believe in.

As above. This comment is rather a twisting of what some of us have said.

How do you warn potential victims in the future against enlisting the services of people who most of you believe we should never trust.

In the same way you would make a judgment about any other individual whom you consult about anything to do with your life, i.e. use some common sense and ask questions.

If you had an ulcerated foot, would you accept the opinion of an orthopaedic specialist who told you the only solution would be to amputate the foot, before more conservative measures like antibiotics had been tried? No, of course you wouldn't, because it doesn't make sense.

If your house is too dark and cold because a large tree is shading it, would you believe the person who told you to put in a sky light at great expense, or the one who suggested you chop down the tree?

 

[Solly]

"Storm Financial documentary brewing

When it comes to influencing the outcome of a case, the lawyer acting for investors in the Storm Financial class action isn't afraid to push the limits."

More from Stephanie Quine @ www.lawyersweekly.com.au

 

[McLovin]

I don't doubt that they made such promises to you. And you've explained that you just trusted whatever was said by Storm. I guess we all approach our decisions in different ways but if someone had suggested to me that I borrow and then borrow on those borrowed funds, assuring me that they "had strategies in place to ensure the family home would never be affected", I'd be asking them to explain in detail just what those strategies were.

Exactly.

If you don't understand what is being sold to you, would you really risk your biggest asset on the say so of someone who is compensated based on getting you to sign. Would you ask a used car dealer if you're getting a good deal on the used car you're about to buy off him?

 

[bunyip]

Frank

In the unlikely event of your class action resulting in the banks being ordered to pay 100% of your losses, will you accept the money?

Frank

Did you miss my question above?
Or have you decided it might be safer not to answer it?

Not that I think you're answerable to me - you definitly are not - but it's a reasonable question and I'd be most interested in your answer if you have time to give me one.