Storm Financial Group
- Thread starter Garpal Gumnut
- Start date
- Joined
- 10 July 2004
- Posts
- 2,913
- Reactions
- 3
Re: Ignorance
In a like vein, not everything that Ponzi Scheme managers write should be taken as gosspel, either.
Good luck. Wear a crash hat and pack a 'chute. The ride could be quite thrilling.
Merry Xmas :santa:
aj
In a like vein, not everything that Ponzi Scheme managers write should be taken as gosspel, either.
I, as a client of Storm Financial will be with them all the way.
Here's to a better economic year ahead!
Good luck. Wear a crash hat and pack a 'chute. The ride could be quite thrilling.
Merry Xmas :santa:
aj
Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
- Posts
- 13,300
- Reactions
- 9,344
Re: Ignorance
pennywise, your loyalty is admirable.
However should I have
The ATO
ASIC
CBA
50000 angry investors
Rupert Murdoch's press
AFR/SMH
against me , I would quietly take my chips off the table and get the bloody hell as far away from the storm as possible.
You appear to be made of sterner stuff.
Good on you.
Keep us posted on your portfolio.
gg
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!
pennywise, your loyalty is admirable.
However should I have
The ATO
ASIC
CBA
50000 angry investors
Rupert Murdoch's press
AFR/SMH
against me , I would quietly take my chips off the table and get the bloody hell as far away from the storm as possible.
You appear to be made of sterner stuff.
Good on you.
Keep us posted on your portfolio.
gg
- Joined
- 21 December 2008
- Posts
- 4,532
- Reactions
- 1
Re: Ignorance
Please keep us regularly updated, I'm sure we are all interested to see which parties were at fault in causing the losses to these clients........
Please keep us regularly updated, I'm sure we are all interested to see which parties were at fault in causing the losses to these clients........
Julia
In Memoriam
- Joined
- 10 May 2005
- Posts
- 16,986
- Reactions
- 1,973
Re: Ignorance
Maybe Pennywise is a representative of Storm Financial?
Maybe the PR Manager?
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!
Maybe Pennywise is a representative of Storm Financial?
Maybe the PR Manager?
- Joined
- 30 June 2008
- Posts
- 15,343
- Reactions
- 7,221
That's a bit tough!! Is it possible for a PR manager of a desperately failing company to jump onto a stock forum and piously put a finger into the dyke?
Is it possible for them to have such poor spelling skills or being so quick to post they didn't do a quick check?
Is it possible for a current Storm shareholder to be so overtly rapt with their current financial position, particularly if they have been geared to the gills in the process and are currently smelling like a 3 day old fish?
Lets wait for the next thrilling installment of
" Storm in a Tea Cup "
Cheers
- Joined
- 16 June 2005
- Posts
- 4,281
- Reactions
- 6
Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
- Posts
- 13,300
- Reactions
- 9,344
Re: Ignorance
I went to a few parties over the weekend.
I started off in the Rising Sun and ended up in a mansion just below the Storm financial bunker.
About one in three folk I met had "invested with Storm"
The "lucky ones " said they were only down 50-100 k , and still owned their house.
The unlucky ones were not talking and were pointed out to me by fellow revellers ?????
Its going to be a quiet Christmas at the top end of Townsville, the Burdekin and north to Ingham and Innisfail
gg
Please keep us regularly updated, I'm sure we are all interested to see which parties were at fault in causing the losses to these clients........
I went to a few parties over the weekend.
I started off in the Rising Sun and ended up in a mansion just below the Storm financial bunker.
About one in three folk I met had "invested with Storm"
The "lucky ones " said they were only down 50-100 k , and still owned their house.
The unlucky ones were not talking and were pointed out to me by fellow revellers ?????
Its going to be a quiet Christmas at the top end of Townsville, the Burdekin and north to Ingham and Innisfail
gg
- Joined
- 25 September 2007
- Posts
- 1,712
- Reactions
- 13
very easy to see how this has happened.
if you had high gearing (50-70%) from 2003 to 07, on the ASX200, you what have though your Investment advisors were the best in the world!
the big question is at what point do you start selling, if you are a long term investor, in the event of a market downturn.
maybe not 10%, as these could just be just a regular blip.
but surely after that, serious readjustment is advisable.
whats happened over the last 6 months is no regular blip, anyone with any financial knowledge knows this
if on low income, with small tax offset, high gearing would need to be monitored day to day
as for people losing their houses, one unfortunate fact I have learned is that one should not allow negative equity to occur, in other words, if a margin call is approaching, far safer to liquidate your investment for $0.
would be extremely interesting to see if any Storm investors had regular written reviews of their plans.
fundamental conflict of interest exists if planners get 7%
if you had high gearing (50-70%) from 2003 to 07, on the ASX200, you what have though your Investment advisors were the best in the world!
the big question is at what point do you start selling, if you are a long term investor, in the event of a market downturn.
maybe not 10%, as these could just be just a regular blip.
but surely after that, serious readjustment is advisable.
whats happened over the last 6 months is no regular blip, anyone with any financial knowledge knows this
if on low income, with small tax offset, high gearing would need to be monitored day to day
as for people losing their houses, one unfortunate fact I have learned is that one should not allow negative equity to occur, in other words, if a margin call is approaching, far safer to liquidate your investment for $0.
would be extremely interesting to see if any Storm investors had regular written reviews of their plans.
fundamental conflict of interest exists if planners get 7%
- Joined
- 16 June 2005
- Posts
- 4,281
- Reactions
- 6
Not sure if this is correct, but I heard that as the market moved higher, they would then leverage further on those gains.
Brilliant strategy if the market always went up - but if this is true, it's easy to see how the severe downturn has left them leveraged many times beyond their initial capital investment.
Brilliant strategy if the market always went up - but if this is true, it's easy to see how the severe downturn has left them leveraged many times beyond their initial capital investment.
- Joined
- 21 December 2008
- Posts
- 4,532
- Reactions
- 1
Re: Ignorance
Thank goodness that 2 out of 3 had other investment strategies and hopefully avoid the tsunami after the storm.....
Thank goodness that 2 out of 3 had other investment strategies and hopefully avoid the tsunami after the storm.....
- Joined
- 21 December 2008
- Posts
- 4,532
- Reactions
- 1
The Storm Financial Website http://www.stormfinancial.com.au
has been "under maintenance" since Monday.
I wonder what is happening? Will it be back?
has been "under maintenance" since Monday.
I wonder what is happening? Will it be back?
- Joined
- 10 July 2004
- Posts
- 2,913
- Reactions
- 3
The Storm Financial Website http://www.stormfinancial.com.au
has been "under maintenance" since Monday.
I wonder what is happening? Will it be back?
Here is your answer:
Storm Financial = Financial Storm
- Joined
- 14 March 2006
- Posts
- 3,630
- Reactions
- 5
here's your answer your Hon. Esq Gumnut!
Their bankrupt *****!
Wake up man, theyre are people relying on you here!
Their bankrupt *****!
Wake up man, theyre are people relying on you here!
Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
- Posts
- 13,300
- Reactions
- 9,344
here's your answer your Hon. Esq Gumnut!
Their bankrupt *****!
Wake up man, theyre are people relying on you here!
Sometimes Gumby mate the more you know the less you are able to say.
There will be much litigation.
Many are bankrupt.
One person said that the effect on NQ would be the same as if no tourists came here for 12 months as of tomorrow.
One story is of of a multim$ farmer now living in a caravan park, renting a van. I've no idea if its true or not.
There were still cars in the SF carpark yesterday when I drove past.
It may make other disasters seem like chickenfeed.
I haven't tried the website.
gg
- Joined
- 14 March 2006
- Posts
- 3,630
- Reactions
- 5
- Joined
- 6 June 2007
- Posts
- 1,314
- Reactions
- 10
I love Sun City - Sol Kirzner's 'ancient' African resort built in the middle of the platteland.
If I had known there were free trips going to Sun City, I would've definitely signed up to Storm Financial!
- Joined
- 14 October 2008
- Posts
- 201
- Reactions
- 0
The Storm Financial Website http://www.stormfinancial.com.au
has been "under maintenance" since Monday.
I wonder what is happening? Will it be back?
I doubt it will be back, for people interested at looking at the site, you can go to:
http://web.archive.org/web/20071028114029/http://www.stormfinancial.com.au/
... Some hype from the site:
"Our strength comes from providing quality services and advice, based on sound research, which integrate smoothly with your life goals and ambitions"
"The Storm processes and systems are tried and true. The outstanding results achieved over 30 years demonstrate a proven formula, consistently applied, based on a rock solid foundation"
"Everything that we do at Storm is based on seasoned research and carefully considered planning."
All sounds good.
Any person whether working for a coproration or not may be personally liable for the "advice" they give. Now tell me who the financial advisers were that after say a 20% fall in the market they advised their clients to go to safety (cash etc), the fact is that any financial adviser whose clietns were still in the sharemarket at 50% fall and did not advise thenm to change strategies can be held liable for the losses.
Financial advisers are considered to be the experts and will be held as such by the courts, those people in the industry who have not substantially saved their clients with the advice they gave them risk losing everything, as they should.
People who set themselves up as advisers set themselves up so that they can give people advice according to clients risk tolerance and circumstances.
We have a legal system that uses statute law in general for regulating things and what happens is that when we have an issue with someone or some organisation we use a lawyer who generally operates in statute law, statute law is limited liability law.
If more people used common law (in their litigation?) which is personal liability law, then principals cannot hide behind corporate structures to personally avoid the results of their gross mistakes.
Bearing in mind I do not know what occured with individuals and Storm financial, if clients use common law, they can attack the principals of the organisation and take their money, Under common law the principal cannot so easily hide the repurcussions of the event for which they use statute law to limit the liability to the corporation itself.
If the financial advisers at Storm did not give advice to people in relation to the market downfall about getting out or hedgeing in some form or another to avoid /reduce loss, then people should use every legal avenue available to get recompense.
Yes we call say that people should take responsiblity for their actions, but by definitiion of setting up as financail advisers those people assume the liability for risk/loss on behalf of their clients.
This crisis will cause huge changes in the finacial advice arena.
Financial advisers are considered to be the experts and will be held as such by the courts, those people in the industry who have not substantially saved their clients with the advice they gave them risk losing everything, as they should.
People who set themselves up as advisers set themselves up so that they can give people advice according to clients risk tolerance and circumstances.
We have a legal system that uses statute law in general for regulating things and what happens is that when we have an issue with someone or some organisation we use a lawyer who generally operates in statute law, statute law is limited liability law.
If more people used common law (in their litigation?) which is personal liability law, then principals cannot hide behind corporate structures to personally avoid the results of their gross mistakes.
Bearing in mind I do not know what occured with individuals and Storm financial, if clients use common law, they can attack the principals of the organisation and take their money, Under common law the principal cannot so easily hide the repurcussions of the event for which they use statute law to limit the liability to the corporation itself.
If the financial advisers at Storm did not give advice to people in relation to the market downfall about getting out or hedgeing in some form or another to avoid /reduce loss, then people should use every legal avenue available to get recompense.
Yes we call say that people should take responsiblity for their actions, but by definitiion of setting up as financail advisers those people assume the liability for risk/loss on behalf of their clients.
This crisis will cause huge changes in the finacial advice arena.
