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Eddie Hobbs - Great advice in 2006

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  • 15-10-2010 9:02pm
    #1
    whippet
    Registered Users Posts: 7,685 ✭✭✭


    Just came across this madness from the little cork fella back in 2006 .. goes a long way to explaining why we are where we are at the moment !!!

    Why buy one when you can buy 10 with the banks money as you will make 100% profit in year one !!!!! :eek:

    http://www.youtube.com/watch?v=riFSbr-TgTg


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    #2
    johndaman66
    Registered Users Posts: 4,097 ✭✭✭johndaman66


    The guy always struck me as a bit of a d!ckhead anyway. Lecturing people on budgeting and cutting back and he himself knocking about the motorways in a passenger Landcruiser. Actually I would hardly be able to listen to him for much longer than the length of that video. His squeeky voice wrecks my head.


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    #3
    Nonoperational
    Registered Users Posts: 7,401 ✭✭✭Nonoperational


    Outstanding post. Thanks!


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    #4
    slickmcvic
    Registered Users Posts: 500 ✭✭✭slickmcvic


    ...he's very quick to call for wage cuts but the man's on the take bigtime from the multinational pharma companies with his "speaking engangements"


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    #5
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    whippet wrote: »
    Just came across this madness from the little cork fella back in 2006 .. goes a long way to explaining why we are where we are at the moment !!!

    Why buy one when you can buy 10 with the banks money as you will make 100% profit in year one !!!!! :eek:

    http://www.youtube.com/watch?v=riFSbr-TgTg

    In fairness I dont like the guy but the way your misquoting and taking that video out of context is unreal.

    he was explaing the concept of gearing and non gearing not suggesting what your saying

    he did say this however

    "yields in the irish market are 3% and falling its not the time for you to invest in the irish market"


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    #6
    Aswerty
    Registered Users Posts: 586 ✭✭✭Aswerty


    Why buy one when you can buy 10 with the banks money as you will make 100% profit in year one !!!!! eek.gif
    Nice!

    Too bad for your rant though since he advises against it (unless investing in larger gearing investments which are backed by experts).


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    #7
    whippet
    Registered Users Posts: 7,685 ✭✭✭whippet


    ........ after encouraging people to further inflate a property bubble he then goes on about the value of investing in property funds.

    What really annoys me is that RTE a state broadcaster allowed someone like Hobbs to shill products that he is selling in a private capacity.


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    #8
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    whippet wrote: »
    ........ after encouraging people to further inflate a property bubble he then goes on about the value of investing in property funds.

    What really annoys me is that RTE a state broadcaster allowed someone like Hobbs to shill products that he is selling in a private capacity.

    whilst i agree with the last part you need to listen to the video again. He didnt encourage peopel to inflate the property bubble. Believe it or not there are property funds OUTSIDE of Ireland that you can invest in,

    I suggest you listen to the clip again. Like the last poster said your rant is irrelevent becasue it doesnt reflect what he said.


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    #9
    Blackjack
    Registered Users Posts: 3,612 ✭✭✭Blackjack


    D3PO wrote: »
    whilst i agree with the last part you need to listen to the video again. He didnt encourage peopel to inflate the property bubble. Believe it or not there are property funds OUTSIDE of Ireland that you can invest in,

    I suggest you listen to the clip again. Like the last poster said your rant is irrelevent becasue it doesnt reflect what he said.

    In fairness, Hobbs suggested that if you bought a property for 1 Million Euro, and 1 year later it was valued at 1.1 Million euro, then you had made a Profit of:
    100,000 Euro.

    For all his perceived expertise, I didn't hear the words "Realised" or "Unrealised" there at all.

    Part of the problem of the boom is that people thought they were as wealthy as the value of their assets, rather than realising that their assets had the potential to fall in value and therefore dilute the perceived wealth quicker than you could say "Credit-bubble-and-you're-not-really-that-rich-or-clever".

    Idiots like Hobbs only fuelled this by telling people they were experts without actually having any expertise to back up their claims. There were more than Hobbs, but he was particularly annoying with his Patronising manner.


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    #10
    Lambsbread
    Closed Accounts Posts: 442 ✭✭Lambsbread


    He didn't suggest that the price would increase to €1.1m (unrealised or not), he was just using it as an example to show how leverage can increase returns. It is a 2 minute clip, he cannot cover all the concepts and theories behind investment. He even at the end he strongly recommended people not to become landlords.

    The show is about the different options available to invest SSIAs and he has included property as one of the investment options. He gives some of the facts about property investment (low yields etc.) and then pretty much recommends people not to invest in Irish property.

    I don't even like the guy but feel the need to defend him. When you are investing large amounts of money, people should be capable themselves of doing some fundamental research and not listen to a celebrity for advice. People need to grow up and take responsibility for their own actions (bankers and politicians included).


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    #11
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Lambsbread wrote: »
    He didn't suggest that the price would increase to €1.1m (unrealised or not), he was just using it as an example to show how leverage can increase returns. It is a 2 minute clip, he cannot cover all the concepts and theories behind investment. He even at the end he strongly recommended people not to become landlords.

    The show is about the different options available to invest SSIAs and he has included property as one of the investment options. He gives some of the facts about property investment (low yields etc.) and then pretty much recommends people not to invest in Irish property.

    I don't even like the guy but feel the need to defend him. When you are investing large amounts of money, people should be capable themselves of doing some fundamental research and not listen to a celebrity for advice. People need to grow up and take responsibility for their own actions (bankers and politicians included).

    spot on the money. I again dont like the guy. Thinks hes too big for his boots and what not but again I feel the neeed to defend him here. The clip has been taken out of context if somebody watched it and jumped in to property blaming this "advice" then as far as Im concerned they got what was coming to them.

    Do your on research and then figure out what is or what is not a good investment. Dont jump headfirst in then blame it on a tv celeb.


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    #12
    gbee
    Closed Accounts Posts: 6,388 ✭✭✭gbee


    whippet wrote: »
    Why buy one when you can buy 10 with the banks money as you will make 100% profit in year one !!!!! :eek:

    Yes, but if people had listened to all his advise he did warn that this would not be good in a falling market and not an opportunity for the first time investor.

    And this is precisely where a huge percentage of the problem arose from, staying in too long, too many new investors in the wrong/place/time etc.


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