Originally Posted by
SailorRob
Firstly sorry to the OCA thread for going on about this, you don't have to read it.
Well Blackpeter I consideryou complicit and to me that's worse. You should be disgusted in yourself for sticking up for him.
If you're going to accuse me of using anonymity to smear, send me a private message and I will give you my details, send me a envelope with a return address and a stamp and I will sign my name to the comments I have made.
I have approached him already, not yet in person but let see where this goes first, because I can tell you now that the track record I have requested will NOT be coming as it will show that he hasn't come close to beating what a index fund can do.
He is well connected and knows the tools of his business. I think he is good in recognising the big picture ...
What the hell does this even mean? Can he provide more value than an index fund or not Blackpeter? Blackpeter?????
Do you know? If not, what exactly do you accuse Chris of?
What I accuse him of, and you as well for promoting him is writing an article that very strongly implies that he can 'time sales wisely' and avoid sell downs by observing the darkening sky and that anyone who says otherwise are crap investors.
But lets go to some direct quotes from dear misunderstood Chris;
'The smartest and wealthiest are those who see the coming storms earlier than the television weather forecasters and act decisively.
They know that once everyone is enduring the storms there could be mass selling. They prepare for the day when dark clouds produce awful conditions'.
Salesmen and those who are not accountable, like media commentators, will preach the ''do nothing'' philosophy, the salesmen motivated by self-interest, the media commentators fed by salesmen (and advertisers). One wonders what they do with their personal portfolios.
The past 12 months have illustrated this pattern, foreign money leaving NZ, banks withdrawing, the salesmen still urging people to accept growing losses.
Meanwhile the stock pickers, looking for the strongest performers in a falling market, differentiate themselves from the index-huggers.
So the people he claims are not accountable and acting on their own interest or getting paid, who preach 'do nothing' are wrong and he speculates that what they do with their personal portfolios is different...
Essentially he is saying that he can easily avoid the falling market well ahead of time, anyone preaching do nothing is wrong and actually acting against investors best interest and that stockpickers can do better than the index huggers.
You will note that he carefully constructs all of this without claiming he can do any of it.
BUT he totally failed to see the biggest darkest economic storm clouds of our lifetimes coming and left his clients (even if it was ONE that's plenty bad enough) to get cleaned out in the GFC invested in crap that nobody should ever have touched under ANY circumstances, and furthermore he supposedly had a special model that could measure these risks.
Did he tell one single person to invest in a NZ finance company in 2005, 2006 or 2007? If so then he is a total moron and you should be disgusted with yourself for sticking up for him.
So, some money where our mouths are Blackpeter, lets go. Put anything you want on the table that your boy cannot beat a SP500 index fund over the next 10 years. I want your money not his. If he can beat Berkshire I'll double it.
Waiting for your message and waiting for Chris to provide me with evidence of his ability to dodge falling markets.
I'm sick of seeing people getting taken advantage of and others cheering them along.
* EDIT. Do a google search of Chris Lee GFC and see how many results come back of his firm before you get to what he doesn't want you to see. He has populated Google with results from his business so it pushes the dodgy stuff back to at least page 3. And BlackPeter is totally complicit this.