Full Version: Auction Attendance - Norwich
Evenin' all,
Now that I am comfortable and set up overseas - thought it would be nice to keep my options open reading comments from you bears on auction room atmosphere in the Norwich area ....
Sooo, did any lap top warriors attend the William H. Brown auction on July 4th (46% lots sold) what was the general mood of the sheep buying and selling, comments please ?
- next auction July 17th via TOPS.
RB.
We're all too busy slaving away in our dead-end jobs to take time off work - got rent to pay to keep the wolf from the door don't ya know? 
Anyway, we're there in mind and spirit but it's a waste of time at the moment to be thinking of buying, even if it's auction stuff. Todays auction prices will be next years selling prices and we're not even 1 year past peak. There was someone here that went to the last William H. Brown Auction (their first one) but he said there wasn't many people there and not much sold......
So where are you RB and what are you up to? - I thought you were going to buy that property on Holt Road and turn it into flats or something
Anyway, we're there in mind and spirit but it's a waste of time at the moment to be thinking of buying, even if it's auction stuff. Todays auction prices will be next years selling prices and we're not even 1 year past peak. There was someone here that went to the last William H. Brown Auction (their first one) but he said there wasn't many people there and not much sold......
So where are you RB and what are you up to? - I thought you were going to buy that property on Holt Road and turn it into flats or something
A good country & western song goes "know when to play and know when to fold" - IMO its time to fold when cheap money rates stop me living off other peoples rent money.
Current portfolio nicely ticking by if rates do not keep rising, may have to employ Mr. Arson if things get too hot ....
Holt Rd fell through - some FTB took the plunge, bargain of the century gone and will come around again next week.
Sunny location base now, no tax, no housing costs, and Mrs RB looking good in her Ray Bans, meanwhile plenty of funds cashing up ready to buy in when "reflexivity" kicks in by 2010, meanwhile the sheep spouting how kool it is to rent.
"The prevailing wisdom holds that markets tend toward equilibrium--i.e., a price at which willing buyers and sellers balance each other out. That may be true of the market in widgets, but it is emphatically not true of financial markets.
In financial markets a balance is difficult to reach because financial markets do not deal with known quantities; they try to discount a future that is contingent on how they discount it at present. What happens in financial markets can affect the economic "fundamentals" that those markets are supposed to reflect--which is why recent years have produced such a dramatic and seemingly irrational stock market rise, followed by an equally dramatic and seemingly irrational fall.
Instead of a one-way connection between supply and demand via market prices, there is a two-way connection: Market prices can also alter the conditions of supply and demand in a circular fashion. In my 1987 book The Alchemy of Finance, I called this two-way connection "reflexivity." And I think it better explains the current turmoil in financial markets than the more commonly accepted idea of equilibrium.
George Soro Jun 2008.
Current portfolio nicely ticking by if rates do not keep rising, may have to employ Mr. Arson if things get too hot ....
Holt Rd fell through - some FTB took the plunge, bargain of the century gone and will come around again next week.
Sunny location base now, no tax, no housing costs, and Mrs RB looking good in her Ray Bans, meanwhile plenty of funds cashing up ready to buy in when "reflexivity" kicks in by 2010, meanwhile the sheep spouting how kool it is to rent.
"The prevailing wisdom holds that markets tend toward equilibrium--i.e., a price at which willing buyers and sellers balance each other out. That may be true of the market in widgets, but it is emphatically not true of financial markets.
In financial markets a balance is difficult to reach because financial markets do not deal with known quantities; they try to discount a future that is contingent on how they discount it at present. What happens in financial markets can affect the economic "fundamentals" that those markets are supposed to reflect--which is why recent years have produced such a dramatic and seemingly irrational stock market rise, followed by an equally dramatic and seemingly irrational fall.
Instead of a one-way connection between supply and demand via market prices, there is a two-way connection: Market prices can also alter the conditions of supply and demand in a circular fashion. In my 1987 book The Alchemy of Finance, I called this two-way connection "reflexivity." And I think it better explains the current turmoil in financial markets than the more commonly accepted idea of equilibrium.
George Soro Jun 2008.
QUOTE (robin b'stard @ Jul 6 2008, 07:18 AM) 
A good country & western song goes "know when to play and know when to fold" - IMO its time to fold when cheap money rates stop me living off other peoples rent money.
Current portfolio nicely ticking by if rates do not keep rising, may have to employ Mr. Arson if things get too hot ....
Holt Rd fell through - some FTB took the plunge, bargain of the century gone and will come around again next week.
Sunny location base now, no tax, no housing costs, and Mrs RB looking good in her Ray Bans, meanwhile plenty of funds cashing up ready to buy in when "reflexivity" kicks in by 2010, meanwhile the sheep spouting how kool it is to rent.
"The prevailing wisdom holds that markets tend toward equilibrium--i.e., a price at which willing buyers and sellers balance each other out. That may be true of the market in widgets, but it is emphatically not true of financial markets.
In financial markets a balance is difficult to reach because financial markets do not deal with known quantities; they try to discount a future that is contingent on how they discount it at present. What happens in financial markets can affect the economic "fundamentals" that those markets are supposed to reflect--which is why recent years have produced such a dramatic and seemingly irrational stock market rise, followed by an equally dramatic and seemingly irrational fall.
Instead of a one-way connection between supply and demand via market prices, there is a two-way connection: Market prices can also alter the conditions of supply and demand in a circular fashion. In my 1987 book The Alchemy of Finance, I called this two-way connection "reflexivity." And I think it better explains the current turmoil in financial markets than the more commonly accepted idea of equilibrium.
George Soro Jun 2008.
Current portfolio nicely ticking by if rates do not keep rising, may have to employ Mr. Arson if things get too hot ....
Holt Rd fell through - some FTB took the plunge, bargain of the century gone and will come around again next week.
Sunny location base now, no tax, no housing costs, and Mrs RB looking good in her Ray Bans, meanwhile plenty of funds cashing up ready to buy in when "reflexivity" kicks in by 2010, meanwhile the sheep spouting how kool it is to rent.
"The prevailing wisdom holds that markets tend toward equilibrium--i.e., a price at which willing buyers and sellers balance each other out. That may be true of the market in widgets, but it is emphatically not true of financial markets.
In financial markets a balance is difficult to reach because financial markets do not deal with known quantities; they try to discount a future that is contingent on how they discount it at present. What happens in financial markets can affect the economic "fundamentals" that those markets are supposed to reflect--which is why recent years have produced such a dramatic and seemingly irrational stock market rise, followed by an equally dramatic and seemingly irrational fall.
Instead of a one-way connection between supply and demand via market prices, there is a two-way connection: Market prices can also alter the conditions of supply and demand in a circular fashion. In my 1987 book The Alchemy of Finance, I called this two-way connection "reflexivity." And I think it better explains the current turmoil in financial markets than the more commonly accepted idea of equilibrium.
George Soro Jun 2008.
Hello Robin,
So where are you now living overseas? that is for sure my dream one day, thats if the wife ever agree's. I have to agree we must get to at least 2010 before prices become anywhere near low.
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.