Deutsche Bank - They think its all over.....

[Shnozz]

Soov330e said:

WEHGuy said:

So who made money out of this? Shares up circa 70%.

Me for a start.

fblm said:

fblm said:

Soov535 on 30Sep16 said:

You're deluded.

If DB goes bust, 2008 will seem like a kids party. I've liquidated most of my assets and put them away safely (metals).

Now we wait.

That's funny. I did the exact opposite. Ooooh exciting

Genuinely amusing. Caught up in the web of attempted dick-swinging fibs once again. Not quite the same extent as the wine cellar in a 2 bed flat but another laughable walter mitty tale. The saddest part is the need for it in the first instance - delusions of grandeur that simply haven't come to fruition in real life? Either way, beyond the laughter I feel quite sorry for the need for it.

[Digga]

I had to liquidate a chunk of my assets and put them into 'metal' at the end of 2015.



(Less a canny investment strategy and more the necessary result of a paucity of diligence on a 911 purchase.)

[Shnozz]

Digga said:

I had to liquidate a chunk of my assets and put them into 'metal' at the end of 2015.

(Less a canny investment strategy and more the necessary result of a paucity of diligence on a 911 purchase.)

I invested in a set of holiday photos bought on ebay to impress visitors with anecdotes and stories of exotic holidays.

[Digga]

Shnozz said:

Digga said:

I had to liquidate a chunk of my assets and put them into 'metal' at the end of 2015.

(Less a canny investment strategy and more the necessary result of a paucity of diligence on a 911 purchase.)

I invested in a set of holiday photos bought on ebay to impress visitors with anecdotes and stories of exotic holidays.

Wise move. Scarbados?

[johnfm]

To be fair to Soovs, he was a barrister and is still in legal - and as such is very risk averse. Remember his position on only buying a 996 with a warranty?

As such, his outlook on financials (get out of equities and stick it into precious metals) was merely risk averse investing.

He's not really a Walter Mitty - merely misunderstood...

[Shnozz]

johnfm said:

To be fair to Soovs, he was a barrister and is still in legal - and as such is very risk averse. Remember his position on only buying a 996 with a warranty?

As such, his outlook on financials (get out of equities and stick it into precious metals) was merely risk averse investing.

He's not really a Walter Mitty - merely misunderstood...

And yet claims to have made 70% on DB shares when they rise.

Hedging no doubt.

Or just utter tripe.

And I am in legal and neither myself nor many folk I know in the profession are acutely risk averse. If anything, the gamble they take with their livers is far greater than many other professions.

[Digga]

Shnozz said:

And I am in legal and neither myself nor many folk I know in the profession are acutely risk averse. If anything, the gamble they take with their livers is far greater than many other professions.

Talking to friends in business banking and the motor trade, the attitude of many in the profession to person credit risk can often be described as lax, at best.

[johnfm]

Shnozz said:

johnfm said:

To be fair to Soovs, he was a barrister and is still in legal - and as such is very risk averse. Remember his position on only buying a 996 with a warranty?

As such, his outlook on financials (get out of equities and stick it into precious metals) was merely risk averse investing.

He's not really a Walter Mitty - merely misunderstood...

And yet claims to have made 70% on DB shares when they rise.

Hedging no doubt.

Or just utter tripe.

And I am in legal and neither myself nor many folk I know in the profession are acutely risk averse. If anything, the gamble they take with their livers is far greater than many other professions.

Well - I suppose it is interesting how he could simultaneously be out of equities and in equities at the same time.

Schrodinger's Soovy?

[anonymous-user]

Digga said:

I had to liquidate a chunk of my assets and put them into 'metal' at the end of 2015.

Oooh me too. 3.8 litres of Mahle loveliness. Awesome investment.

[Digga]

fblm said:

Digga said:

I had to liquidate a chunk of my assets and put them into 'metal' at the end of 2015.

Oooh me too. 3.8 litres of Mahle loveliness. Awesome investment.

It's surprising with Mezger engined cars - turbos and GTs - how many have needed gearbox rebuilds. I could have spent twice as much on a car and still been through the same issue.

3.8l is interesting. Do tell.

[anonymous-user]

Digga said:

It's surprising with Mezger engined cars - turbos and GTs - how many have needed gearbox rebuilds. I could have spent twice as much on a car and still been through the same issue.

3.8l is interesting. Do tell.

http://www.fvd.de/us/en/Porsche-0/-11-20/-/-/group...

The strange noise you are hearing is a small hole in the fabric of space-time opening in your wallet.

[Digga]

fblm said:

http://www.fvd.de/us/en/Porsche-0/-11-20/-/-/group...

The strange noise you are hearing is a small hole in the fabric of space-time opening in your wallet.

Won't fit my 996 Mezger engine. Phew, saved for now!

Was that up grading from 3.6 to 3.8 or just refreshing a 3.8?

[anonymous-user]

Digga said:

Won't fit my 996 Mezger engine. Phew, saved for now!

3.8 or 4.1 Sir?
http://shop.fvd.de/de/en/Porsche-0/120/coupe/2001/...

Digga said:

Was that up grading from 3.6 to 3.8 or just refreshing a 3.8?

Refreshing a 3.6 that ended up being a 3.8 costing more than the car

[wc98]

Digga said:

I had to liquidate a chunk of my assets and put them into 'metal' at the end of 2015.



(Less a canny investment strategy and more the necessary result of a paucity of diligence on a 911 purchase.)

ouch, i hope that lot was not as expensive as it looks .

[Digga]

fblm said:

Digga said:

Won't fit my 996 Mezger engine. Phew, saved for now!

3.8 or 4.1 Sir?
http://shop.fvd.de/de/en/Porsche-0/120/coupe/2001/...

Digga said:

Was that up grading from 3.6 to 3.8 or just refreshing a 3.8?

Refreshing a 3.6 that ended up being a 3.8 costing more than the car

I'm not even going to click that link! Sounds like a very expensive 'doghouse'.

wc98 said:

Digga said:

I had to liquidate a chunk of my assets and put them into 'metal' at the end of 2015.



(Less a canny investment strategy and more the necessary result of a paucity of diligence on a 911 purchase.)

ouch, i hope that lot was not as expensive as it looks .

Pretty hefty, but it's okay, I got the bill whilst out in the Caribbean celebrating BIL's wedding, so it softened the blow! Certainly as far as Mrs Digga was concerned, anyway.

[anonymous-user]

Digga said:

I'm not even going to click that link! Sounds like a very expensive 'doghouse'.

Very wise. The cost of the piston and liner 'kit' is a fraction of the total parts cost. 'While you're in there' you might as well/have to replace lots of minor stuff. Head studs? 30 quid x 24 of them! Bearings, gaskets, bushes, guides, valves, springs... nothing that expensive but adds up very quick.

[Digga]

fblm said:

Very wise. The cost of the piston and liner 'kit' is a fraction of the total parts cost. 'While you're in there' you might as well/have to replace lots of minor stuff. Head studs? 30 quid x 24 of them! Bearings, gaskets, bushes, guides, valves, springs... nothing that expensive but adds up very quick.

I know how that goes! Like my gearbox rebuild which then - whilst it's out - you might as well do the clutch etc. etc.

The only silver lining was that on re-fit, to his eternal credit, Mike from Sports & Classic spotted the gearstick linkage was sub-optimal (i.e. cable ties holding bits of the slider in place) and, knowing I'd considered a 996/7 GT3 short-shift kit until I realised the extent of funds required for the 'box overhaul, he gifted me one. I tend to find that places don't get a good reputation by chance - they earn it.

[RicharDC5]

fblm said:

if you enjoyed the The Big Short you will probably enjoy the book more, plus all the 'characters' are real in the book.

I borrowed this from the library a few days ago and it's a brilliant book. Are there other books about he financial collapse you would recommend? It would be much appreciated

[anonymous-user]

RicharDC5 said:

fblm said:

if you enjoyed the The Big Short you will probably enjoy the book more, plus all the 'characters' are real in the book.

I borrowed this from the library a few days ago and it's a brilliant book. Are there other books about he financial collapse you would recommend? It would be much appreciated

I've gone to the pub in exmouth Devon where the American bloke makes millions trading (as it was one of the only places he could get wifi) always makes me smile think of him trading in background. It's very different to the one in the film though.

[anonymous-user]

RicharDC5 said:

I borrowed this from the library a few days ago and it's a brilliant book. Are there other books about he financial collapse you would recommend? It would be much appreciated

Too Big to Fail by Sorkin is also excellent. It's well written and very well researched (I witnessed some of the scenes and they are retold accurately). It doesn't focus specifically on the housing crisis but on the resulting banking crisis; the banks, civil servants and politicians and their desperation to rescue the financial system from the ledge. For such a dry subject he does a great job of making it readable without being technical. In short it's not as easy a read as The Big Short but ultimately there's considerably more substance; if there's one book to read on the financial crisis it's this.

The Quants by Patterson is ok but solely focused on some of the hedge funds and their part in the crisis.

The Greatest Trade Ever by Zuckerman is also ok but covers pretty much the same thing as the big short with even more of a focus on Paulson (the HF manager not the treasury sec)

Lastly if you enjoyed Lewis's writing you'll probably enjoy his first book, Liars Poker, which must be 30 years old now and describes his time at Salomon Bros back in the 80's. The same Salomon Brothers which was the epicentre of the MBS/CDO/greed/hubris explosion that ultimately lead to the 2008 crisis...