Equititrust?

[Tysonboss1]

Re: The Investors are Innocent

At some point the heard about diversification.

At some point they knew that it was not wise to "Put all your eggs (nest egg) in one basket"

At some point they chose to ignore common sense.

.

 

[kostag]

Re: The Investors are Innocent

I agree with it all EXCEPT I still say that the investor has an entitlement to believe in the honesty of the system......now, if representations were beign made by various parties, knowing them to be false etc - even down to soliciting as reecently as 5 montsh ago for new funds from existing investors and friends, well who is at fault? Do you not get on the bus in the morning, because you presume that the bus is well maintained and the driver is properly licensed? where do you stop!

At some point the heard about diversification.

At some point they knew that it was not wise to "Put all your eggs (nest egg) in one basket"

At some point they chose to ignore common sense.

.

 

[No Trust]

Sophisticated Investors

One has to acknowledge that not all investors are sophisticated; the fund manager on the other hand would be presumed to be reasonably sophisticated and have the common sense not to lend innocent retiree investors life savings on "King Con". In addition to this the proposed 50M Capital Raising was a scam of monumental proportions considering the 80% of loans in default and demands from banks etc etc, hence ASIC's intervention.

I note still no word on the revised valuations as well as the annual review which was promised some time ago. Maybe the Annual Review should be titled "Hurting them more than they can hurt us" It seems that McIvor's philosophic statement applies more to investors now than anyone else...

 

[Tysonboss1]

Re: The Investors are Innocent

I agree with it all EXCEPT I still say that the investor has an entitlement to believe in the honesty of the system......now, if representations were beign made by various parties, knowing them to be false etc - even down to soliciting as reecently as 5 montsh ago for new funds from existing investors and friends, well who is at fault? Do you not get on the bus in the morning, because you presume that the bus is well maintained and the driver is properly licensed? where do you stop!

Yes they have every right to believe that the operator is honest. And should something not be above board then the manager should be sued for compensation and convicted and jailed if need be.

All I am saying is that you should not have your investments setup in such a way that it wipes you out should somthing terribly dishonest happens through no fault of your own.

 

[banco]

The Gold Coast seems to have by far the largest per capita population of shonky businessmen in Australia.

 

[kostag]

The Investors are Innocent

look at the funds - MFS, CitiPacific, Donovan Oates, LKM, Equititrust...... all leaders in the sector...... meant to be overseen by ASIC - but look at the lending practices that were subsequently revealed ...... you could have spread your money over them all and lost out big time!

Yes they have every right to believe that the operator is honest. And should something not be above board then the manager should be sued for compensation and convicted and jailed if need be.

All I am saying is that you should not have your investments setup in such a way that it wipes you out should somthing terribly dishonest happens through no fault of your own.

 

[Olman]

Re: The Investors are Innocent

look at the funds - MFS, CitiPacific, Donovan Oates, LKM, Equititrust...... all leaders in the sector...... meant to be overseen by ASIC - but look at the lending practices that were subsequently revealed ...... you could have spread your money over them all and lost out big time!

What Tysonboss1 is reiterating is the established financial precept that investments should be spread across all assett classes. The examples you have given are all one class - managed funds.

The spreading of risk across assett classes is a sensible approach to wealth preservation. Regardless of the integrity or otherwise of the management of such classes, it is foolish to have all your eggs in one basket.

That said, there is no excuse for the mismanagement of funds that we are witnessing, and the full force of the law is justified in dealing with such mismanagement.

 

[kostag]

Re: The Investors are Innocent

I am a bit slow..... what you are suggesting is some money in mortgage trusts; some in bank; some in shares; some in real estate..... problem is what we need is income not asset growth at our stage of life and I guess this is what people prey on.....

What Tysonboss1 is reiterating is the established financial precept that investments should be spread across all assett classes. The examples you have given are all one class - managed funds.

The spreading of risk across assett classes is a sensible approach to wealth preservation. Regardless of the integrity or otherwise of the management of such classes, it is foolish to have all your eggs in one basket.

That said, there is no excuse for the mismanagement of funds that we are witnessing, and the full force of the law is justified in dealing with such mismanagement.

 

[kostag]

More proof that the Equititrust crew were well in control

this is a quote from the St Vincents web site in South Australia, being thesecond largest disaster loan that Equititrust seems to have made. So McIvor himself wa sin control here for quite some time but the surprise drop in value only popped up this year - I think that Piper Aldermann will find that the Corymbia Woods (King Con) and St Vincents South Australia loans (which seem to equate to almost 50% of the loan assets )were well known to be bad for atleast an year, yet during that period Equititrust 'hid' the position and continued to draw down large interest and fees......

Mark McIvor, CEO of Landsolve (a division of Equititrust) said that “The engagement of GMM as marina managers has brought credibility and a high level of professionalism to the marina operation. The involvement of the Chapman Group working in conjunction with Landsolve would bring about significant positive change at Marina St Vincent”.
Mr McIvor further stated that “This is only one of several initiatives that Landsolve are presently working on at Wirrina Cove toward improvement of the whole development and the achievement of its full potential.”

“We have committed time, resources and money toward the project in order to work through several outstanding issues. In our efforts to date, we have consulted extensively with local consultants, government and the public at Wirrina Cove to ascertain and define the issues affecting the project. The project has long suffered from poor public perception & criticism. We stand ready to embark upon a new campaign to outline & promote the facts and debunk the myths associated with Wirrina Cove.”

“It is truly a fantastic development opportunity”….

 

[No Trust]

Smoke and Mirrors

If the true facts were revealed, the 50M Capital Raising would have had absolutely no chance... In any event EquitiRust had to reveal all to ASIC who were compelled to put an immediate stop to the 50M Capital Scam... Full credit to Colin Kruger at the Sydney Morning Herald for his efforts in exposing the massive conflict of interest earlier this year. This was a last ditch attempt to save the fund from going under... The only thing keeping the life support system going is the investors’ money held hostage for 3 years and the NAB and Bank of Scotland wanting their money bank under secured mortgages. Once this money is repaid EquitiRust will be set adrift in a similar manner to City Pacific...The banks can pull the cord, the investors however are trapped whilst the management have delusional visions of refloating the Titanic which hit the Iceberg ” King Con ”... Sorry guys when you do this kind of unforgivable crap to Innocent Retiree investors you don’t get another chance to destroy their lives even further...

EQUITITRUST OUT – INDEPENDENT RECEIVERS IN.............​

 

[Tysonboss1]

Re: The Investors are Innocent

I am a bit slow..... what you are suggesting is some money in mortgage trusts; some in bank; some in shares; some in real estate..... problem is what we need is income not asset growth at our stage of life and I guess this is what people prey on.....

you could have your networth spread somthing like this,


1, Own you home debt free. ( Provides income in the form of free rent and eventually can be used as a reverse mortgage)

2, 12 - 18 months living expenses held in high interest bank account.

------------------------------------------------------------------------------
Remainder of assets under line produce income to top up living expenses account

3, A rental property (debt free)

4, Shares in 20 strong Australian companies with a strong history of stable and growing dividends.

5, An Australian income Fund.

6, An Australian Balanced fund.

7, A global fund (Global Index's/Bonds/Property)

 

[Tysonboss1]

Re: The Investors are Innocent

I am a bit slow..... what you are suggesting is some money in mortgage trusts; some in bank; some in shares; some in real estate..... problem is what we need is income not asset growth at our stage of life and I guess this is what people prey on.....

It's not a bad Idea to have some of your funds held in growth assets because no doubt you will eventually be drawing down on your capital and some growth assets will help grow this capital.

 

[ASICK]

Re: Sophisticated Investors

One has to acknowledge that not all investors are sophisticated; the fund manager on the other hand would be presumed to be reasonably sophisticated and have the common sense not to lend innocent retiree investors life savings on "King Con". In addition to this the proposed 50M Capital Raising was a scam of monumental proportions considering the 80% of loans in default and demands from banks etc etc, hence ASIC's intervention.

I note still no word on the revised valuations as well as the annual review which was promised some time ago. Maybe the Annual Review should be titled "Hurting them more than they can hurt us" It seems that McIvor's philosophic statement applies more to investors now than anyone else...

Don't worry "No Trust", 'moms and pops'/'mums and dads' aren't expected to be 'sophisticated' as our new friend suggested, in fact you're supposed to be afforded 'some protection' - the real problem was that 'some protection' simply wasn't afforded:

http://tinyurl.com/3swhmau
"... About the Sophisticated Investor Certificate

There is a special investment opportunity. But it is only open to the "big boys" – not mere members of the public.

If you are only a member of the public then you don't get exposure to these special (unregulated) investment opportunities. The Australian government feels that you need protection. Members of the public can generally only invest in investments which are highly regulated. Examples of regulated investments are often contained in a Prospectus or a Product Disclosure Statement. These investments have to go through many hoops before they can be offered to the general public.

There is at least some protection and regulation for mums and dads.

However, many promoters don't want to nickel and dime the small stuff with the mums and dads. They don't want to go to all the trouble of dealing with a large out of date government regulator called ASIC (Australia Securities Investment Commission). They want to go to a smaller number of the "big boys". The "big boys" are the Sophisticated Investors. They have a lot of money to invest or they earn a lot of money each year.

The Australian Government thinks that if you are that so wealthy then you don't need the protection of things such as the Prospectus and Product Disclosure Statement.

However, before you can get the lofty status of Sophisticated Investor your accountant has to sign off on a complying Sophisticated Investor Certificate. You then show the Certificate to someone that wants to take your money. ..."

However, it seems to me that this forum is directed to solving your problems, not giving mum/dad (unsophisticated) investors a rap over the knuckles for investing in a 'regulated' managed fund which has gone pear-shaped through no fault of their own.

 

[No Trust]

Sphisticated Concealment

Investors at no point were made aware of loans to King Con until pressure from this forum as well as the National Press.. At no point was King Con featured in any annual Reviews like other borrowers.. King Con was someone Equititrust were not proud to publicise for good reason. This was Sophisticated Concealment on both the current investors as well as the prospective investors in the 50M capital raising stopped by ASIC.. When you have an outfit who operates like this, rubbing salt into the wounds of innocent retire investors by chastising their investment diversification is a bit tasteless..

 

[No Trust]

They are at it again...

This posted on YouTube...

http://www.youtube.com/watch?v=HEwwrsr23c0

If you want the definition of a "gravely worried or constipated man" just look at this stunted attempt at a rehearsed conversation with a washed up sports presenter with a bad hair transplant... The pauses and facial expressions are classic. Could easliy be mistaken for a commercial for severe and protracted constipation.. Maybe some laxatives may help guys. Hey Mark before you go off on one of your delusional attempts to raise more money under a different guise be upfront and take responsibility for the Equititrust Disaster. SORRY BUT PEOPLE ARE NOT FOOLED.

The second video is just as bad, seriously who on earth will believe this crap... These guys have lost tens of millions of dollars of investors’ money and now they have concerns and want to help local communities. Ahhh good luck with that, but this will implode just like the 50M Capital Raising.

http://www.youtube.com/watch?v=NKr6RQ6WPOg

 

[Olman]

Re: They are at it again...

This posted on YouTube...

http://www.youtube.com/watch?v=HEwwrsr23c0

http://www.youtube.com/watch?v=NKr6RQ6WPOg

"Corporate-speak" at its worst. Neither of the interviews said anything intelligible, other than touting their management systems now wanting to take your money for nebulous projects that require your blind trust.

The gall of these people is astounding - to expect that sophisticated investors would accept this as a legitimate sales presentation is delusional. Even ordinary mums'n'dads would have to be pretty thick between the ears to fall for the pitch presented.

Lesson 1 for vipers: look the intended victim in the eye - hypnotism requires direct eye contact. For snakes to be charming, better skills are required than those we see here.

 

[kostag]

EQUITITRUST : new houses

Gold Coast builders GLENZEIL are building a $6M house of Isle of Capri for a 'David Kennedy' ...... I guess there might a few David Kennedy's with $6M plus to spend.....

 

[kostag]

WHAT AN EMBARRASSMENT!

The message that I get is that....

1. Equititrust does not feature in any of this - anywhere. It seems that 'they' have all moved on, under the Landsolve Capital branding.
2. Not for profit alright - just speak to Equititrust investors

I think ASIC must be rolling around on the floor laughing - that is why we haven't got our report as yet!

anyone who missed Matt Corkin and Mark McIvor have just got to watch these....

http://www.youtube.com/watch?v=HEwwrsr23c0

http://www.youtube.com/watch?v=NKr6RQ6WPOg

no wonder the volume is down and the backing music is so loud - no-one wants to hear the message!

"Corporate-speak" at its worst. Neither of the interviews said anything intelligible, other than touting their management systems now wanting to take your money for nebulous projects that require your blind trust.

The gall of these people is astounding - to expect that sophisticated investors would accept this as a legitimate sales presentation is delusional. Even ordinary mums'n'dads would have to be pretty thick between the ears to fall for the pitch presented.

Lesson 1 for vipers: look the intended victim in the eye - hypnotism requires direct eye contact. For snakes to be charming, better skills are required than those we see here.

 

[No Trust]

They are at it again

The pitch in the interviews is so amateurish and nonsensical that it is now the laughing stock of the Australian Financial Industry. People are going online to have a laugh at this delusional attempt to pull the wool over people's eyes.. McIvor and Co have forgotten the Equititrust Investors and the tens of millions of dollars of their hard earned money they have lost.

 

[kostag]

ah, but like DARWIN said - evolution of the strong..... well, they have evolved.....

you cant keep a good crew down can you?


If you cant make money - only lose it - then, why not start a 'non for profit' make your obvious weakness a strength? Certainly the Chevron Island mob have a great track record in running up losses - maybe call King Con is as "loss making consultant"...... Trust Mutual..... you dont even have to promise to try and make a profit anymore - love it! Brilliant! Anyone seen Gene Wilder in the movie The Producers? Same concept......

These talents are all wasted - these guys should be in advertising and marketing -

Poor old Ian Maurice looks at several stages like he is about to fall out of his chair..... love it when one of the strengths they proclaim is a Chinese partner - does anyone understand what that part was all about ????..... next thing, they'll be selling coal to the Chinese... I think the message was - we have a Chinese guy - we must be strong.... or something along those lines.....

where is David Kennedy in all of this???? CEO gone?

looks like EQUITITRUST has gone EQUITI DUST......

The pitch in the interviews is so amateurish and nonsensical that it is now the laughing stock of the Australian Financial Industry. People are going online to have a laugh at this delusional attempt to pull the wool over people's eyes.. McIvor and Co have forgotten the Equititrust Investors and the tens of millions of dollars of their hard earned money they have lost.