£10 mill lottery winner loses the Lotto!
£10 mill lottery winner loses the Lotto!
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Discussion

Rollcage

Original Poster:

11,328 posts

208 months

Sunday 27th September 2009
quotequote all
Link

... and it is not his fault!

These people never fail to astonish me - investing money in something you know nothing about is a sure fire recipe for disaster.

Not the first, and wont be the last.

elster

17,517 posts

226 months

Sunday 27th September 2009
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He can blame no one but himself for that.

Investing in a football club, that would never sound like a good investment to me.

wiffmaster

2,613 posts

214 months

Sunday 27th September 2009
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If you won £10 million back in '96 and thirteen years later have anything less than a £15 million portfolio, then you are an oxygen thief.

Simpo Two

89,404 posts

281 months

Sunday 27th September 2009
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'I gave my money to Dominic Keane and now it's all gone and I've got nothing'

Mr McGuinness got done up like the proverbial kipper.

Someone recently asked here 'Can we all make money?' I reckoned not, because as Person A gets money, it comes from Person B. The above story is perfect proof smile

Mind you, the period was between 1996 and 2007, and thanks to two crashes (2000, 2008) and a couple of IFAs being asleep on watch, my savings are no greater now than they were 10 years ago either.

ApexJimi

26,552 posts

259 months

Sunday 27th September 2009
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De nada sympathy from me.

Complete and utter idiot of the highest order.

Cotty

41,454 posts

300 months

Sunday 27th September 2009
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Muppet, that kind of money would set you up for life, never work again, very nice holidays, cars, houses etc & live off the interest if nothing else.

To spunk it all confused

ApexJimi

26,552 posts

259 months

Sunday 27th September 2009
quotequote all
Cotty said:
Muppet, that kind of money would set you up for life, never work again, very nice holidays, cars, houses etc & live off the interest if nothing else.

To spunk it all confused
Then blame someone else.

Love how he's jumping on the "fred the shred" bandwagon as well...

Rollcage

Original Poster:

11,328 posts

208 months

Sunday 27th September 2009
quotequote all
Exactly .

£10 mill - £4mill for house ,cars ,etc,etc .Leave a mill in high liquidity investments ,just in case ,and then long term portfolio for the remaining £5mill .Should EASILY double every 10 years in net terms ,after all tax and fees are paid.

How anyone manages to blow £10 mill and then moan about it defeats me. If he was moaning that his "mate" had blown half of it but he still had the rest then slightly understandable ,but he obviously would have blown the lot on his own anyway .His "mate" just hastened the whole process.

Edited by Rollcage on Sunday 27th September 21:03

isrplc

264 posts

194 months

Sunday 27th September 2009
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what a complete donkey. and he has managed to get money from selling this guff to the papers...then he is surprised he isnt getting invites to lavish parties anymore!

he said his mate bought him a 325k house that he lives in at the moment. what a donkey.

oh and he gave 3mill away to 'friends'!


percymk4

387 posts

202 months

Sunday 27th September 2009
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article said:
Accused shamed banker Fred Goodwin of ignoring his pleas for help..
I dont understand this bit, why would he think Fred should help him?

Or am i missing something? confused

firman

1,407 posts

209 months

Sunday 27th September 2009
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A fool and his money and all that eh

isrplc

264 posts

194 months

Sunday 27th September 2009
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percymk4 said:
article said:
Accused shamed banker Fred Goodwin of ignoring his pleas for help..
I dont understand this bit, why would he think Fred should help him?

Or am i missing something? confused
I have no idea what fred goodwin has to do with it. This story is beggars belief. At least he has something in common with fred. they are both good at losing st loads of money

Hereward

4,670 posts

246 months

Sunday 27th September 2009
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Doesn't suprise me. I'd guess that 85% of the population are financially illiterate.

Frankeh

12,558 posts

201 months

Sunday 27th September 2009
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Hahaha. What an idiot.
I lol'd when he spent his last 400K trying and failing to get back his outher £9.6M.
He got this money in 96? Hell, if he only invested in property back then he would have double to trippled his money by now even WITH the housing crash.

Personally if I won that much I would put 50K in 5 banks for liquidality (I can make up words, I'm a millionaire) and safety, buy a £1.5M house somewhere nice, spend another £500K on a car collection and then invest the rest as such:
50% on long term investments (20 year)
25% in BTL property which would serve as my monthly wage.
10% in my own business venture.
15% in high risk high gain ventures.

Teocali

238 posts

203 months

Sunday 27th September 2009
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Strange how he mentions that he struggles to afford the weekly shop but he gave £3million to friends and family...

Surely if a friend or family member gave you a large wedge you would ensure they were never too hard up?

Poor choices of friends and investments then...

Tunku

7,703 posts

244 months

Sunday 27th September 2009
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The man is known locally as a complete feckwit. I am not inclined to correct that feeling.

s3fella

10,524 posts

203 months

Sunday 27th September 2009
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He' Scottish..........he probly blew it on a pxssup!

F93

575 posts

199 months

Sunday 27th September 2009
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Oh, £10 million pounds...

Now I can't help thinking 'if I had that, i'd do this'

It seems that it was this other guys fault, but only cos ol' McGuiness let him take advantage of him.

You don't say 'all the bank managers want to be your friend' and then give some other guy £2,000,000 pounds... :/

Frankeh

12,558 posts

201 months

Sunday 27th September 2009
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A fool and his money are easily parted.

patmahe

5,886 posts

220 months

Sunday 27th September 2009
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So he gets an opportunity that most of us would kill for and he leaves himself with nothing in reserve, gives away loads of money to others and invests heavily in something which at best could be described as risky.

Incredible to blow that chance, you would have to be monumentally stupid not to have even 1 million put away as 'just in case I fk everything else up' money. The fact that he thinks he bears no responsibility for this is laughable.