Storm Financial Group

[Klogg]

Julia

It's pretty had to get any sense out of a bloke who's completely out of his tree.

I burst out laughing when I read the latest gem about how the average man in the street couldn't be expected to know that an asset class like the share market has a history of ups and downs!

Then again, possibly it’s me who doesn’t have a clue when it comes to finance and investment – perhaps I can learn something from the sage advice and opinions expressed by certain parties on this thread.
Maybe as soon as Easter is over I’ll start making moves to 'respect my money' by shoving all of it plus a huge pile of borrowed money into the stock market, then hope like hell the market keeps going up. My debt-free home - I'll mortgage it to raise even more investment funds.
As for those investment books and websites that I like to read, why waste my time on such a fruitless endeavor. I’ve learnt on this thread that you don’t need any investment knowledge or education – that sort of stuff is the responsibility of the salesmen who sell investment schemes – they’re my most reliable source of knowledge if I ever want any information about investment.
But how about if they’re crooks – won’t I get conned? Hell no – I'll be able to rely on government legislation as my iron-clad guarantee that nobody can ever pull the wool over my eyes in investment matters.

Yep, I think I’ll get the show on the road by contacting the investment loans manager of my bank as soon as Easter is over. And with a bit of luck I can track down a firm of investment gurus, preferably one that charges many times the normal fees, just so I know that I’m getting quality service and advice.
I’ve done OK out of investment so far, but my past results will soon pale into insignificance compared to what I’ll achieve from here on by implementing a safe and conservative strategy of borrowing to the eyeballs to invest in the stock market.

Hahahahahaha, this made me laugh so hard.

Nice work, bunyip!

 

[bunyip]

Good Old Bunyip again . Thought you might go fishing over Easter? ( on this forum ).LOL

Looks like I've got a bite from a Flathead.

 

[Harleyquin]

I may not agree with some posters on this forum regarding the why's, how's etc of why we accepted storms advice pre collapse but I can tell you something for nothing and that is " I've learnt a hell of a lot about what not to do pro collapse".

If there are others out there in ASF forumland who are learning the same thing then that has to be a tremendous plus.

I think you will find very few stormies who have received anything back and are doing it REALLY tough. The destruction to people's lives is hard to witness.

 

[Garpal Gumnut]

I may not agree with some posters on this forum regarding the why's, how's etc of why we accepted storms advice pre collapse but I can tell you something for nothing and that is " I've learnt a hell of a lot about what not to do pro collapse".

If there are others out there in ASF forumland who are learning the same thing then that has to be a tremendous plus.

I think you will find very few stormies who have received anything back and are doing it REALLY tough. The destruction to people's lives is hard to witness.

I would second that Harleyquin.

Further when one is involved in litigation as the Storm investors are against the banks, it is unwise to even consider admitting that anyone except the banks are to blame.

I can understand why Storm investors are holding this line on the thread.

Go for the deepest pocket is a saying I believe in litigation.

And the Stormies are going for the banks, and my contacts in Martin Place, tell me that the CBA for one is hurting, and afraid of this litigation.

gg

 

[Harleyquin]

Thanks GG. There may very well be some in the stormie ranks who believe that storm did nothing wrong. I would think the majority of us know differently. As someone earlier in this thread said, storm was just another corner store operation until the big boys moved in with their cheque books.

 

[maccka]

My head is pounding from banging it against a brick wall for so long, so I take your point about concentrating on other, more healthy pursuits than arguing with the deaf.

SJG,

This point about pounding heads on brick walls seems to hold true for many of the posters on this forum. Unfortunately it seems that the ears (commonly used for listening to others) seem to suffer first.

This is a poster that I have next to my desk at work. I often find dark-ish humour one of the best ways to cope with things.



Image source: http://stuarth.com/2011/08/29/i-feel-like-banging-my-head-against-a-wall/

Happy Easter.

cheers
Maccka

 

[Harleyquin]

Love it Maccka you have a delightfully wicked sense of humour.

 

[Julia]

I may not agree with some posters on this forum regarding the why's, how's etc of why we accepted storms advice pre collapse but I can tell you something for nothing and that is " I've learnt a hell of a lot about what not to do pro collapse".

I don't understand what you mean above "pro collapse". Perhaps you could clarify.

It's good to know that you have 'learned a hell of a lot". Could you perhaps tell us what exactly you have learned?

 

[Ijustnewit]

Looks like I've got a bite from a Flathead.

I've got to admit that's comedy gold

 

[Harleyquin]

I think pro collapse is self explanatory and no I'm not prepared to talk about what I've learned.

 

[Solly]

"Storm witness pressure claims

THE legal team in a class action against two of the three banks caught up in the Storm Financial debacle has asked the corporate watchdog to investigate allegations of intimidation against a star witness."

More by Rae Wilson @ sunshinecoastdaily.com.au

 

[Julia]

I think pro collapse is self explanatory and no I'm not prepared to talk about what I've learned.

Self explanatory? If it were, I wouldn't have asked.

"Collapse" is perhaps self explanatory if we assume it means the collapse of Storm Financial. But it's the 'pro' that has me puzzled, given its usual meaning is to be 'in favour of'.

pro  
adverb
1.
in favor of a proposition, opinion, etc

We'd hardly believe you were in favour of the collapse of Storm Financial. Hence the question.

 

[Garpal Gumnut]

More by Rae Wilson @ sunshinecoastdaily.com.au

Thanks Solly,

This may turn out to be more important than it seems from the few words expressed in the Sunshine Coast article.

I might book a spa or townhouse pool room at Lennons after all.

gg

 

[Solly]

Thanks Solly,

This may turn out to be more important than it seems from the few words expressed in the Sunshine Coast article.

I might book a spa or townhouse pool room at Lennons after all.

gg

Yes GG ,

It sure is looking more likely now. BTW there's easier access for your Arnage in Burnett Lane now. They've now stopped the lane closures for yuppies sipping caffè lattes and playing lunchtime street chess.

S

 

[Garpal Gumnut]

Yes GG ,

It sure is looking more likely now. BTW there's easier access for your Arnage in Burnett Lane now. They've now stopped the lane closures for yuppies sipping caffè lattes and playing lunchtime street chess.

S

Thanks Solly,

Probably one of the few good things to come from the GFC, less yuppies.

The porters at Lennons are such gents and ladies, I had to get them to move some BCC signs and bins last time so that I could swing in to the entrance to the underground car park. I did run over a yuppy foot, but as he was in a hopeless end game, i believe I did him a favour, as he was botching a winnable triangulation.

gg

 

[Glen48]

Good God you ran over his foot????? no damage to the carriage I hope

 

[Garpal Gumnut]

Good God you ran over his foot????? no damage to the carriage I hope

Thankfully none. I was a bit concerned about a court case as he wore a "Reduce Greed" shirt, but he was so taken by the Arnage we settled on a free ride in the back with a Cohiba and some bubbly the next day. He is quite a good chess player and a nice fellow. Even though he is a Green, I may have converted him to capitalism. He tells me he still limps.

gg

 

[Glen48]

Sounds like Al Gore may have been in the big smoke as he has just paid 9 extra large for a house on in Sunny Cal. supporting the RE business, he was smart enough to get an ocean view but well vertical above seas level.

If the poor mans limp gets any worse suggest he can go as a toffee apple to the next fancy dress ball by sicking his gammy leg up his......

A set of these could be advisable:
http://www.ebay.com/itm/EMS-free-sh...arts_Accessories&hash=item416486d646&vxp=mtr#

 

[Frank Ainslie]

I see the “dogs of war” have been busy clamouring for a place in the “I am so clever and insightful” final. I’ll declare the winner next week.

It’s a real pity that ASIC (another dog that is all bark and no bite) did not have some of these enlightened ones working for it in November 2007. Perhaps they would have seen what ASIC couldn’t then? Oh, didn’t I mention this?

ASIC’s Belisa Jong sent the following email to Storm on 12th November 2007:

"I refer to our telephone conversation this morning and confirm that the following ASIC staff would like to meet with representatives of Storm Financial Group Limited ("Storm") at its North Sydney office tomorrow morning at 9.30 am:

* Deborah Koromilas - Assist Director, Financial Services, Compliance
* Elizabeth Korpi - Lawyer, Capital Markets, Compliance

* Belisa Jong - Manager, Capital Markets, Compliance

"Again during our visit, it would be helpful if a representative of Storm could take us through Storm's advice model (including the 'Client education process' and documentation provided to the clients) and explain how the Phormula Software System interacts with the services it provides to clients.

In respect of the latter, we would also appreciate a demonstration of the Phormula System. At this stage, we envisage that the visit may take approximately 2 hours (or 3 hours at most)."

It’s rather strange, don't you think, that no one from ASIC saw anything wrong with Storm’s scheme or systems at that time, before that time or after that time. After the Storm collapse ASIC became the white knight charging to our rescue, or was it more to cover their backside. You take your pick!

That's right! I forgot! Even blind Freddie could see through Storm's scheme! Perhaps we should send ASIC some white sticks with the name "Freddie" engraved on them.Then again, if someone had EDUCATED the people that carried out their compliance audits, then maybe we 'Stormies' would be still classified as "Normies".

Perhaps someone from the daft side would care to enlighten us by explaining why they expected us to see what ASIC couldn't? They will of course have an irrational explanation for this and expect us to swallow it as usual. Still, this one should be a doosey (I almost said Doobsy! I just can't wait!

 

[Harleyquin]

Maybe ASIC need some of the financial 'pros' on this forum as they can all see through storms model ...wonder if they could see through it pre collapse as well as they seem to be able to since the collapse occurred.

It never ceases to amaze me that all the experts have only come to the fore since storm went down the tube.

Seems we were the 'pros' pre collapse ie 'in favor of a proposition'

Now we have lots of 'pros' ie adverb for opinion... And lots of them.

Stay positive Frank and believe that everything happens for a reason. Maybe good things fall apart so that better things can be put back together.