On the verge of opening an underground fund

[trainspotter]

haha trainspotter. I think im going to have to get in touch with a family friend. His a multimillionaire maybe has like 30+ Million. Maybe I can ask him to please speak to his lawyer etc for some sound advice. All these government websites are mumbo jumbo to me. I just want to know the quickest, easiest avenue to set some small thing up, where i can manage my friends money, a small sum if it came to that level without any issues.

If you can't understand this:-

Generally people buying securities and other financial products must, under the Corporations Act 2001(the Corporations Act), be given a regulated disclosure document such as a prospectus or product disclosure statement. However, the Act has some exemptions from these requirements.

One of those exemptions is the offering of financial products to a person (either a natural person or a legal person) who is the subject of a current certificate from a qualified accountant certifying they have a prescribed net asset or gross income level.

A person holding such a certificate is a:
‘sophisticated investor’ for the purposes of Chapter 6D (if they are offered debt or shares) or
‘wholesale client’ for the purposes of Chapter 7 (if they are offered a financial product, other than insurance, superannuation or a retirement savings account product or service) and the financial product is not used in connection with a business.

I hope they have internet access for you in the big house and Bubba treats you well.

 

[pinkboy]

Hmm pinkboy, Ill have to add those stuff to then. Ill just tell my friend that we should consider those stuff. Ill just give him points and hell expand on it etc. As long as I have limited liability, then thats the main issue solved. As i said this is nuthing serious yet. Its all going to be traded off a personal account. Not even registered as a business yet. I doubt my profit will even exceed the first tax bracket.

Dont worry about adding them, they were there to prompt you not to get involved. You have ALL the liability in an illegal enterprise - its not even an issue. Do you actually need to feel the pineapple in your @$$, because you cant imagine it?

haha trainspotter. I think im going to have to get in touch with a family friend. His a multimillionaire maybe has like 30+ Million. Maybe I can ask him to please speak to his lawyer etc for some sound advice. All these government websites are mumbo jumbo to me. I just want to know the quickest, easiest avenue to set some small thing up, where i can manage my friends money, a small sum if it came to that level without any issues.

You're all mouth and no brain. If a governement website is 'mumbo jumbo' then you sure as hell aint gonna understand how to put a contract together. Non issue anyway. The easiest way to set something small up is to go get a licence to practice so you do it by the law.

We cant ride dirt bikes on tracks, we cant have paintball guns, we cant even protest, a cop can pull you over and search you with no reasonable evidence. What a load of rubbish. All these rules, restrictions, minimum wages, taxes, rules and regulations are sickening.

Rules, regulations are put in place for safety, safety from persons doing or trying to do the wrong thing.

My dad had 30% share in a company and his scum bag partner liquidated the whole company and kept all the money. Lawyers con every one, and its hardly even clear if we will get our money back. Democracy, justice, not even close hahaha.

If you're dirty on this, then what hope does your 'victim' have. You're just as likely to snatch the cash and run. What protection does your friend have.......your word? Just like your dad had his mate's word.

I would seriously be considering trainspotters advice.

I hope you aint pretty.....because they love pretty kids in jail!


pinkboy

 

[darkhorse70]

So by your rational, it makes sense that i can go and dump my whole house down the pokies with no disclosure from my accountant saying im a smart investor or what not but I dont have the right to give money to a friend or to who ever I like to trade for me. In reality its in the interest of the fund to succeed where as its in the interest of a gambling firm to see you lose. So i cant see the rational in this legal system and how they think these rules are ' FAIR'

What horse cr&p.

Whats that latin saying buyer beware. Thats your problem. The buyer should exercise caution when giving their money out. But it shouldnt be like you need a license to trade other peoples money or you are going jail. Maybe if you want to be a doctor or engineer. But no way not for trading or managing some ones money.

I will go the legit route when i can. At the moment, its not an option. No money and i dont even believe in this education system. Its just a fraud and day light robbery. You should be prosecuted only if you deliberately con your share holders, or operate under other assumptions other then maximizing share holder wealth.

It clearly says no experience, its your choice. Anyway I dont care about getting a pine apple up my rectum because i know that will NEVER HAPPEN. It would never get to that stage.

 

[darkhorse70]

It doesnt matter what my opinion is about the system. I only care about how to slip through the cracks. Don King stomped a man to death for a few dollars and beat the wrap. I just got to find the way haha

 

[Junior]

You'll probably get away with it darkhorse70. This bloke flew under the radar for 10 years, and his schemes had $100mill FUM.

He's only being put away for 3 years

Property developer jailed for 'Titanic' $100m investment scheme

 

[darkhorse70]

haha junior i cracked up at the last paragraph. I think i found a new idol hahahaha. On a serious note, i still appreciate the advise. I dont truly understand the full gravity of the situation. Im still just a 22 yr old kid, competing and striving for social acceptance in some ways and like all kids (or most) money/proving to others you are worthy of great things is on my mind alot. When i here there are so many barriers and obstacles in my way of possible success my natural reaction is to find a way around it.

Im treading more cautiously, however im not going to abandon the idea overall. I dont even want to think about this aspect. I want to fully concentrate on trading but since some one is offering me money, it increases my capital power and at the same time could possibly set me up for something good in the future. I just want to protect my self in some sort of way. My main goal is not to get banned from managing other peoples money in the future.

Some people commented earlier (forgot who, cant be bothered scrolling back haha) saying below 20 people is legally allowed or something like that. Thats what im hoping for. Either way its a learning experience and the more i pursue it, the more i learn. It also builds a more concrete image of myself as a trader mentally and creates an alter ego where i perceive myself as a trader, hence hopefully atleast physiologically making more persistent in order to succeed.

 

[darkhorse70]

Right now i got bigger problems. I deliver pizzas at night, and i delivered to a goddess. Now i have to scheme a way of picking her up, the next time she orders. hahaha

 

[pinkboy]

Why dont you go out and apply for a job in the industry and get the qualification?

You:

• Get a wage.
• Get experience.
• Get a qualification.
• Use other peoples money with the responsibility of your endeavours.

^^Then you can use all that when you increase your capital base.....LEGALLY.

I made my first $million at age 23...legally. Its not some pipe dream....it can be done!


What you want, is a 'wipe your hands free if it all turns to $h!t' venture and ride off into the sunset on your Unicorn.


pinkboy

 

[darkhorse70]

i would if i could. Im basically kicked out of uni, so I cant really get a job in that field. No one gives you a chance unless you have some type of track record if you want to trade. That is what im hoping to build.

Im just a peasant working 7 days a week, 4 hours a day getting $10 an hour. But im looking to find something new. Just get an average wage so I can save enough to start trading. I dont want to wipe my hands clean. I just dont want to be sued because some maniac can sue me. I have alot of friends who are just plain dumb. They dont understand that every thing has a risk and when you try to explain that the markets are an odds game and that they have a risk the only thing they come up with is so what happens if you lose my money and how much can i make. In other words they are neanderthals haha.

My main goal in life to help others. Im not some ego maniac who wants to rein over others. But i need a tool in creating some wealth. So my objective is not to rob and steal.

I dont know how you made your first million at 23. Maybe you came from a wealthy family. I dont know but i feel like im making progress in this venture. Know one is forcing me to learn. I read on my own will. I have a genuine hunger for the nuts and bolts of how economics works and trading fascinates me. The rest will require time.

I dont even care about taking other peoples money. By the end of the month i think ill have 10k and ill actually trade for the first time. So that alone is exciting. I was never good at the political game especially in the corporate world as you can tell haha. So i dont think ill flourish in an ego driven environment where people make jokes and have fake laughs and suck up to each other.

This contract is a fraction of my goal. I want to be a good trader. The rest will take care of itself. Taking money off others is a distraction and isnt my main goal as you are assuming.

 

[trainspotter]

If you were serious you would start a company limited by shares and set the value of the shares at $1.00 and offer 10 million shares broken down into "ordinary", Class "A,B,C,D" and have their rights and obligations written down to non voting rights, non recourse etc ad infinitum - DYOR.

An offer information statement (OIS) has lower disclosure requirements but can only be used for fundraising up to $10 million in aggregate, that is, including any earlier fundraising under an OIS. If you want to use an OIS you must be able to include with it a copy of an audited financial report with a balance date within the last six months.

http://www.asic.gov.au/asic/asic.nsf/byheadline/Raising+funds+in+Australia?openDocument

You then sell your shares under an Offer of Information Statement with the precursory waiver of "sophisticated investor" status. Which means referring back to the link I evidenced earlier. These people are allowed under ASIC rules to invest in your company. Your company then uses the money to "invest" in whatever it wants and the "shareholders" are issued a certificate stating they have invested X $$$ with a value of (whatever they contribute) You are merely raising capital.

Now none of this is advice and I am not a representative of any company spruiking as to how to set these things up to gain a financial advantage in the market place. You need to get sound financial advice and also check with a qualified accountant as to the veracity of my post.

But you have piqued my interest with the "Goddess" and the pizza delivery theme. Sounds like a good start to a B Grade porno !!

 

[pinkboy]

I dont know how you made your first million at 23. Maybe you came from a wealthy family.

Most certainly not! Both my parents are essentially living week to week. I like you, started with a casual (turning into a full-time) job in a childcare centre, changing $hitty nappies and playing tea parties. My GF (now wife) and I saved up $14k and bought a house 95% LVR. The house grew in value. By this stage my daughter was coming so I left the centre to work for a company that did protective coatings as a labourer. After 2 years, with only skills and a vision, I went out on my own as a 1 man show, borrowing $123k from the bank against our house (sketchy risk). My vision was to at least mimic my wage from my old job. In my first year, I scored a job worth over $500k, worked bloody hard, and with the profits, paid for all my equipment, and paid the bank back in full, in a single cheque for that $123k.

From there, churning a couple $mil has been reasonably consistant. My largest workforce was 34 men, but now a more manageable 10. Ive ticked off every single goal in my little red book that I jotted all my notes down in - except 1! That goal, is to get a job for >$1mil in a single job (My best is $880k). I have quoted 5x jobs over that elusive goal, and not jagged one yet. One I got feedback on, I was the most favourable price, but the company strength and skill lost me the job on the weighting. One day, it will come !

So there, Ive revealed that something as simple as working hard, saving a bit of capital, working hard, get a bit of skills up, and working hard pays off.

And all I am is a dumb, thinner sniffing Industrial Painter. A far step down from a pizza delivery boy - trust me!


pinkboy

 

[skyQuake]

thinner sniffing Industrial Painter

Gotcha! Now everyone knows the secret to success!

 

[darkhorse70]

Haha trainspotter. Thats great advice. Ill keep that in mind. Thanks. Genius haha

Pinkboy thats a great under dog story. Ill use that as fuel. Hopefully I can share a fraction of ur success one day.

 

[DJG]

Ill bite. Take me on as your first client, Ill give you $100k that I want you to make 20% return on in 12mths.*

*Keeping in mind if you dont return the desired 20%, I can get you whacked for $5k


pinkboy

I get the sad feeling he has already legitimately PM'd you asking if you're serious about this proposal!

 

[McLovin]

My friend came up with this simple contract. As for how much capital is going to be generated atm its only $1000 by one friend if that. Ive also come up with a semi business plan but for me this is a fun project I can undertake with my friend and learn at the same time. Im going to have about $10000 by the end of the month of my own money but if some friends wish to contribute im happy to take their money if they understood all the risks etc. I just attatched a photo of the legal contract my friend came up with.

We are not sure if its a binding contract since the legal system can possibly over rule it in an instant haha. The contract is more to show our friends that we are acting as ' professional' as possible and take this seriously. Any thoughts on the contract. Its not fully done yet, its a working progress.

Your friend is a law student and the first thing they did was sign over legal title (does cash even have title??) to you? They've got a bright future!

I wouldn't bother with a written contract. Follow the same logic that applies to those who get arrested; the more you say, the more you incriminate yourself.

And for absolute clarity, that is not advice.

 

[DJG]

I have alot of friends who are just plain dumb. They dont understand that every thing has a risk and when you try to explain that the markets are an odds game and that they have a risk the only thing they come up with is so what happens if you lose my money and how much can i make. In other words they are neanderthals haha.

I was never good at the political game especially in the corporate world as you can tell haha. So i dont think ill flourish in an ego driven environment where people make jokes and have fake laughs and suck up to each other.

Perhaps you only have 2 - 4 'friends' because you call them dumb? Would you say you're smarter than them? If so, then your lawyer mate must be getting taught by the university of almonds.

Additionally how would you know what the corporate world is like without first hand experience (as you said)? Unless of course you believe movies, magazines and hearsay?

Why did you get kicked out of uni? And please don't tell me because its an unfair communist system run by neo-Nazi's.

 

[darkhorse70]

honestly i don't give two ****s what these guys have to say there is such thing as a equitable title.
Legal title means you have control and legally own it in your possesion but im implying that the person would still have equitable title. I dont know 100!% if it applies to cash, maybe it does maybe it doesnt. The important thing is contracts are based on intention. " quoted by my friend". My friend said he wrote this up for our friend for 1k. He said if it got serious big then obviously hed put in hard work.

Relax DJG. Im jking about the neanderthal thing. I have two groups of friends. The educated ones and the ones that dont value education. I dont consider myself above any one. We all have different strenghts.

I have hundreds of friends. Only a few that I hang ith daily.

Ive worked for some marketing company. Boss' who only focus on the performing sales people. Every one lying to themselves and talking the company up.

Im not your standard joe. I talk to people differently. Ill accept your difference. Ill talk to junkies. Ill gove a homeless guy food. Ill help an injured animal. I dont judge. These corporate world is all about so called 'image'. Its all pretend. Its all a big illusion which values this pretend view. Who wears the best stuff. Who has what.

Its a heirachy based on who dominates who.

I got kicked out cause I went to college, did the same subjects, finish go to uts. Tjen I got 0 credit points have to do the whole thing again. I faoled accounting two times and statistics. I dont know how to revise for exams. I didnt have my heart in it. An old man stands on a stage, reads off a book and charges you 2k. Talk about killing a passion. I couldnt see the goal pf going to uni.

Ive failed at alot of things in my life. Got sacked from my first job at 15, was screamed at and mocked at other jobs and never succeeded at sales. Hence why I dont like working for others for the rest of my life. Its not that im lazy. People just think they can abuse me because I dont complain but i eventually snap.

I found some thing I love which I can enjoy by myself without all these people trying to mess with your emotions.

Ill live by this moto. In the first year ill be your devoted student. Learn everything you have to teach me. The second year ill learn all your weaknesses. And the third year I will destroy you hahahaha. (Stolen quote but I like it)

But yeah thats just my life experiences. I come in peace but im hungry to destory others through my success.

 

[darkhorse70]

But also ill help any one in need. Even if I hate you and come tp me for advice ill serve you with all my knowledge.

 

[jasonpile]

I agree with cynical.