Expert financial advice needed!!!
Discussion
WindyCommon said:
Basically: try roulette
I've enjoyed a good few nights at the tables both here and abroad. The old Chevalier casino in 1960's Glasgow was definitely the most exciting. And that crazy casino in El Gouna near Hurghada was definitely the funniest.But I've never once gone in with any intention of coming out with anything other than the memory of a good night out. And that (without exception) is how it's worked out.
desolate said:
Seriously - if he gets his 2 or 3 mates who each pay in excess of 200k a year to transfer their insurances he will piss it and have money left for beer, tags and tax.
How so, and why would he need the £10k?You seem to be I plying that a very large fraction of Insurance premium is profit, which it isn’t.
selmahoose said:
Well, apart from one chap here who's suggested something realistic which whilst involving "work" doesn't involve very much (on the face of it tho' in reality involves quite a bit), my accountant suggested I invest a fairly modest amount in someone I also know whose startup is 90-95% certain to grow big legs pretty quickly.
So you're wrong James. It's not ridiculous at all.
As to whether or not people seek financial advice with making/gaining/adding to/raising money for themselves as a core aim, you're entitled to your opinion but mine is that it's probably THE main inspiration behind seeking advice.
You don’t work in finance, do you?So you're wrong James. It's not ridiculous at all.
As to whether or not people seek financial advice with making/gaining/adding to/raising money for themselves as a core aim, you're entitled to your opinion but mine is that it's probably THE main inspiration behind seeking advice.
You seem to be a fantasist or a troll, so I’m out.
WindyCommon said:
£10 to £200k. I suspect the "opportunity" with the lowest leakage (therefore the highest EV) is red/black on a roulette table. I can't think of another transparent, legal way to make £200k in a short timescale where the house edge is lower. I propose a staking strategy that gives you two bites at the cherry...
Start by dividing the £10k into £6250, £3125 and £625.
Place £6250 on red. You are going to need it to come up 5 times in a row.
With 36 numbers plus the zero, the chance of red coming up is 48.7%. The probability of five in a row is .487^5 or 2.74%
If that doesn't come off, start again with the £3125. This time you will need to win 6 times in a row. The probability of six in a row is .487^6 or 1.33%
If that doesn't come off, take the £625 and have a decent lunch in a good London restaurant with a proper bottle of wine before calling your creditors.
The Russian version has far better odds. Start by dividing the £10k into £6250, £3125 and £625.
Place £6250 on red. You are going to need it to come up 5 times in a row.
With 36 numbers plus the zero, the chance of red coming up is 48.7%. The probability of five in a row is .487^5 or 2.74%
If that doesn't come off, start again with the £3125. This time you will need to win 6 times in a row. The probability of six in a row is .487^6 or 1.33%
If that doesn't come off, take the £625 and have a decent lunch in a good London restaurant with a proper bottle of wine before calling your creditors.
Di di mao!!
James_B said:
desolate said:
Seriously - if he gets his 2 or 3 mates who each pay in excess of 200k a year to transfer their insurances he will piss it and have money left for beer, tags and tax.
How so, and why would he need the £10k?You seem to be I plying that a very large fraction of Insurance premium is profit, which it isn’t.
Jockman said:
James_B said:
desolate said:
Seriously - if he gets his 2 or 3 mates who each pay in excess of 200k a year to transfer their insurances he will piss it and have money left for beer, tags and tax.
How so, and why would he need the £10k?You seem to be I plying that a very large fraction of Insurance premium is profit, which it isn’t.
Commercial broker would get between 15 and 30 percent margin so somewhere just north of a million quid premium.
Package that up and flog it. Easily get 250k.
If the OP has five mates who pay over 250k a year in premiums the Bob's year uncle.
JQ said:
As has already been stated, I'm quite certain that if someone knew a sensible way to legally turn £10,000 into £200,000 through investment in 12 months they'd be keeping it to themselves whilst sunning themselves on their super yacht moored outside their 25,000 sq ft home on their private island in the Maldives.
There are a colossal number of ideas and plans looking for private input of either energy or capital or both. A healthy number of these only require very little capital or sweat. And while perhaps 90% of them are a waste of time, 10% aren't. And perhaps 10% of that 10% become anything from reasonably to spectacularly successful. Can you visualise a scenario where someone might advise you to invest in one of these?
selmahoose said:
There are a colossal number of ideas and plans looking for private input of either energy or capital or both. A healthy number of these only require very little capital or sweat. And while perhaps 90% of them are a waste of time, 10% aren't. And perhaps 10% of that 10% become anything from reasonably to spectacularly successful.
Can you visualise a scenario where someone might advise you to invest in one of these?
Something that might return £200k from £10k in a short time period is not an investment, it’s just a massive punt.Can you visualise a scenario where someone might advise you to invest in one of these?
desolate said:
Jockman said:
James_B said:
desolate said:
Seriously - if he gets his 2 or 3 mates who each pay in excess of 200k a year to transfer their insurances he will piss it and have money left for beer, tags and tax.
How so, and why would he need the £10k?You seem to be I plying that a very large fraction of Insurance premium is profit, which it isn’t.
Commercial broker would get between 15 and 30 percent margin so somewhere just north of a million quid premium.
Package that up and flog it. Easily get 250k.
If the OP has five mates who pay over 250k a year in premiums the Bob's year uncle.
That isn't the difficult bit. The difficult bit is raising their desire to move, especially in an environment where LTAs are commonplace.
But this is called "work". And I don't have the slightest doubt I can do it.
I planned to never retire. To be honest it wouldn't be realistic to call what I used to do "work" at all. I basically spent the day f
king about with my mates. But sometimes I had to interact with people who I respected but didn't much like. And worse, sometimes I had to interact with people I neither liked nor respected.Thats the main (perhaps ONLY) positive benefit I've found retirement has brought in a largely unchanged existence. Now the only people in my life are the people I enjoy having in it. Actually there's probably not enough time left in my life to spend any of it interacting with people who I need to interact with purely for some business benefit. And tbh I'm not sure I can be arsed with it, or them. Maybe for a while.
selmahoose said:
......or 50 mates who pay £25k etc etc.
That isn't the difficult bit. The difficult bit is raising their desire to move, especially in an environment where LTAs are commonplace.
This bit is totally correct and the downfall of most new start ups/team movesThat isn't the difficult bit. The difficult bit is raising their desire to move, especially in an environment where LTAs are commonplace.
Their "mates" say they will switch and in the end most don't and most of the rest just allow them to quote against holding broker.
(and canvassing 50 mates is a bit like work - 3 or 4 is a bit easier)
desolate said:
This bit is totally correct and the downfall of most new start ups/team moves
Their "mates" say they will switch and in the end most don't and most of the rest just allow them to quote against holding broker.
(and canvassing 50 mates is a bit like work - 3 or 4 is a bit easier)
LOL! They're the easy ones who'll move on the basis of premium cost alone which is straightforward and simple. But there are far far more businessmen who've been round the block with insurance who choose both their brokers and underwriting companies for many many other reasons. As you very well know. Especially the bigger fish who make EVERYTHING a drama, and crush margins beyond breaking point. If they get any inkling of what you're making they want a part of it - in fact they want the lion's share of it. And these days isn't commission disclosure an essential part of the contractual process ?Their "mates" say they will switch and in the end most don't and most of the rest just allow them to quote against holding broker.
(and canvassing 50 mates is a bit like work - 3 or 4 is a bit easier)
Nonetheless, I have a plan. But it's very dependent on what I've got to sell. Because in the end it's not me they're buying. I'm just the monkey. It's all about the organ grinder and what kind of tune he's prepared to play.
sidicks said:
Is this actually a genuine thread or just another opportunity for groak to boast about how successful he is?
PH can be the written version of Instagram at times ....Surreal thread and bizarre question.
If someone has been running successful businesses for many years and doesn’t anticipate a large cash need - no liquidity or working capital ??? ( odd )
Asset backed business can’t be borrowed against for a cash call?
Edited by alfaman on Monday 17th September 03:45
OK - here would be what I would do
Use the 10k as a deposit on a BTL/ shop that you buy for 40k.
But it is actually worth 60k
Use some sort of method to get around the normal 6 month remortgage period
Remortgage at 50 %. Now use the 30 k to buy 3 more properties. Rinse and repeat until you have 200k equity after taxes. Sell.
Bob is then your Uncle. Do not forget to come back and post how useless pensions are when you could be buying flats at a third off their market value.
Use the 10k as a deposit on a BTL/ shop that you buy for 40k.
But it is actually worth 60k
Use some sort of method to get around the normal 6 month remortgage period
Remortgage at 50 %. Now use the 30 k to buy 3 more properties. Rinse and repeat until you have 200k equity after taxes. Sell.
Bob is then your Uncle. Do not forget to come back and post how useless pensions are when you could be buying flats at a third off their market value.
Edited by wisbech on Monday 17th September 05:36
wisbech said:
OK - here would be what I would do
Use the 10k as a deposit on a BTL/ shop that you buy for 40k.
But it is actually worth 60k
Use some sort of method to get around the normal 6 month remortgage period
Remortgage at 50 %. Now use the 30 k to buy 3 more properties. Rinse and repeat until you have 200k equity after taxes. Sell.
Bob is then your Uncle. Do not forget to come back and post how useless pensions are when you could be buying flats at a third off their market value.
Use the 10k as a deposit on a BTL/ shop that you buy for 40k.
But it is actually worth 60k
Use some sort of method to get around the normal 6 month remortgage period
Remortgage at 50 %. Now use the 30 k to buy 3 more properties. Rinse and repeat until you have 200k equity after taxes. Sell.
Bob is then your Uncle. Do not forget to come back and post how useless pensions are when you could be buying flats at a third off their market value.
selmahoose said:
....people like this for example. Would you, if you didn't absolutely HAVE to??
Would I what, work in finance?Edited by selmahoose on Sunday 16th September 23:37
Well yes, as clearly after twenty years in trading it is optional, and has been for a very long time. Maybe when I hit fifty I’ll have a serious think about giving it up, but it’s more likely I’ll do something like look to run a family Office in Geneva, or work for a fund in Newport Beach for a few years, and enjoy the surfing.
James_B said:
Would I what, work in finance?
Well yes, as clearly after twenty years in trading it is optional, and has been for a very long time. Maybe when I hit fifty I’ll have a serious think about giving it up, but it’s more likely I’ll do something like look to run a family Office in Geneva, or work for a fund in Newport Beach for a few years, and enjoy the surfing.
That’s not what he meant - you missed his ‘subtle’ insult to anyone that works in Finance (because he doesn’t really understand much about it!).Well yes, as clearly after twenty years in trading it is optional, and has been for a very long time. Maybe when I hit fifty I’ll have a serious think about giving it up, but it’s more likely I’ll do something like look to run a family Office in Geneva, or work for a fund in Newport Beach for a few years, and enjoy the surfing.
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