Hall Chadwick's Letter 23 March 2012
http://www.equititrust.com.au/Pdfs/Administrators/Administrators%20Reports%20-%2020120323%20-%20Letter%20to%20Investors.pdf
Hall Chadwick's letter to investors dated 23 March 2012 indeed caries comment in relation to this thread, but does not give investors directions to it.
It is true that the posts do not carry credibility in themselves since there is no suggestion that any of us hold any professional qualification for the giving of advice - in fact, all postings on the forum are very much disclaimed.
It is also true that members should do their own research and each member should come to his or her own conclusion.
This is why I try to make factual postings in order to give individual members a reasonable basis for making an informed decision.
As a fact, Trilogy has a failed Dee Why fund. It was a mezzanine (second mortgage) fund associated with Laton Corporate Finance - a company about which much of great interest has been written. Investors received $0.00 (see
http://moneymagik.com/dee_why_new.php )
Phil Ryan of Trilogy (with others) was found to have breached a client's trust.
(see
http://moneymagik.com/trilogy1.php)
It's Healthcare REIT fund at Crow's Nest was down to $0.18 (from $1.00) as at 30 June 2011. The asset has a hefty mortgage and is up for sale without a tenant.
(see
http://moneymagik.com/analysis_REIT.php)
In its first two years of operating the (ex-City Pacific) Pacific First Mortgage Fund, the fund has incurred 25% further losses with a return of only $0.05 in those two years. Further losses has been disclosed with further losses foreshadowed.
(see
http://moneymagik.com/index.php)
Ventueaxess has accumulated losses of over $7m and its main asset of about $3m has been commented on by the auditor as being valued in a speculative manner.
(see
http://www.nsxa.com.au/ftp/news/021724952.PDF)
It's not brain draining to do a seach of Lion Advantage Limited to see that a strike action is in progress.
(see
http://www.search.asic.gov.au/cgi-bin/gns030c?acn=088_638_911&juris=9&hdtext=ACN&srchsrc=1)
It's not a strain to see that Lion's previous life was as MERCATOR FUNDS MANAGEMENT LIMITED, a company about which ASIC disclosed (emphasis has been added):
"
ASIC also placed a final stop order on the Mercator Pacific International Securities Fund prospectus that was lodged by Mercator Funds Management Limited. The prospectus was seeking to raise funds for a cash box, which would be used to purchase or develop unidentified hotels, resorts and/or commercial property.
ASIC was concerned that the prospectus did not meet the guidelines of adequate disclosure. These concerns included that:
information regarding the minimum amount required to be raised for a successful scheme commencement, and the directors' experience, was not disclosed;
the description of the fund did not reflect the purpose or the nature of the proposed investments;
the projections lacked a reasonable basis; and
the structure of the fund was impractical. It required investors to make their investments conditional on information that would be disclosed in a series of subsequent supplementary prospectuses."
(see
http://www.asic.gov.au/asic/asic.nsf/byheadline/01%2F148+ASIC+unplugs+Telco+prospectus+and+locks+cash+box+in+moves+to+protect+investors?opendocument)
www.moneymagik.com (my site) is also disclaimed.
I believe members should do their own research. I (and others), at best, are only able to provide 'sign posts' to direct members to information - we cannot make members read the information.
Uninformed investors are vulnerable investors.
None of these companies will disclose the negative aspects of their businesses and ASIC will not compel them to do so. For example, as soon as Trilogy's Healthcare REIT fund got attention for its continuing and massive losses, all the returns and disclosures were removed from public view (accessable only by investors with password protection).
However, those disclosures are available (for a fee) from ASIC.
You're all kidding yourselves if you think you'll get a balanced view from anyone on the 'other side' of the fence.
'No Trust' and 'Kostag' are right about the value of forums - but that value is only as good as the information the forum discloses.
I don't think there is any value to any posting unless the posting is factual and able to backed up by a credible source - something I think posters herein should think long and hard about.