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Mark Uttley

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Posts posted by Mark Uttley

  1. From The Daily Telegraph article The World's Worst Holiday Destinations.

     

    Quote

    Morocco

    Thomas Paine: “Ghastly. Never a moment of peace. Human mosquitos everywhere. People aggressively trying to shine your shoes under the table while you're eating – and those were the good moments.”

    Daniel Brown: “I will never return to Marrakesh. I hated every minute of it. Constant hassle from locals, one of whom grabbed my girlfriend by the throat. People eager to cheat you, aggressive beggars, constant danger from moped riders. The food was truly awful as well.”

    Louise Atkinson: “Ghastly place, accosted by beggars purporting to be guides as soon as you stepped out of your hotel, people freely urinating in the streets around you, insane and lethal traffic on what passes for main roads, horse and donkey crap everywhere, dubious food stalls and gastroenteritis. Never again.”

    John Latham: “Fez maybe in Morocco. Very interesting, mysterious place but you pause for more than 10 seconds and a local will sidle up to you with something to sell. Had one youth who refused to leave me alone unless I paid for his tour guide services. Had to put up with this human mosquito following me through the streets for 20 minutes until I threatened to complain to a policeman at which point he quit abruptly.”

     

  2. Many financial advisors would say that 5% of your assets should be in precious metals.

    Utter tosh. You are confusing assets with portfolio, and not for the first time, so I assume you either don't understand the difference, or that you are deliberately trying to mislead.

    It's quite possible to have substantial assets and zero portfolio, in which case the correct holding of PMs is zero.

    An obvious example would be an elderly couple, who own their £100K house and have £4K in savings. According to you, they should sell their furniture and stack up their front room with gold.

  3. Personality aside he always struck me as a bit of a one-trick pony business wise.

    The bit about him being a "former ice-cream salesman" is true. He was rather good at it it seems. Not easy when there are pitch wars to be fought in Glasgow. He also had a string of Nursing homes, mostly purpose built. In a simila vein he built and ran a number of Nurseries (child care). This was the business that launched him into the multimillionaire bracket when he sold it. From there he went on to form his Fitness Club.

    So, no, not a one-trick pony.

  4. At the end of the day, the people who didn't realise that gold was cheap all those years ago are not remotely qualified to now opine that gold is (too) expensive. .

    When I first joined this site there were property bulls that used the same argument against anyone who dared to suggest that houses were too expensive. I suspect some of them have gone bust since then.

  5. It used to be the norm to have 5-10% of your portfolio in physical gold and is widely recommended even today (when we have been off the gold standard for >40 years.)

    But you think it isn't just bad advice but seriously bad to do so. Care to qualify such a maverick statement?

    It is a seriously bad idea to put 10% of your assets into gold. You may wish to put 10% of your portfolio into gold, but for most people this equates to zero.

  6. Along with this is their unshakeable pride about being a miner, fine, but this seemed to not balance with the fact that every lad in my class was being told by his miner dad to get a trade in engineering or construction and never to follow them.

    One of my friends experienced the opposite. When he told his father, a miner, that he was going to university and not down the pit, he was ostracised. His father didn't speak to him for over 20 years.

  7. Deniz Kalkan, a 32-year-old housewife in Istanbul, is ready to move her gold.

    “I’ll put these in a deposit account as soon as I get the time,” Kalkan said of the half-dozen gold coins she has collected and stashed in her apartment. “It’s much safer to keep them in the bank than at home.”

    LOL! :lol:

    How safe are they stashed in her apartment?

    Taken from another thread

    This is what happens when someone knows you have gold.....

    http://www.northamptonchron.co.uk/news/crime/asian-community-on-patrol-for-gold-raiders-1-4280280

    "Last week, the Chron revealed how one couple had seen about £20,000 worth of gold and jewellery stolen during a raid."

    "Up to 40 people have 
begun late-night patrols in Northampton following a spate of burglaries targeting Asian families for valuables."

    "Police said the raids were part of a national problem, which had coincided with the price of gold going up."

    "Chief Inspector Fay Tennet, head of community safety, called for calm. " :lol:

    You can't loose with gold. :blink:

  8. In 2005 we paid a deposit on an apartment with what was then Fadesa MartinSa who were the main developer for the flag ship resort Mediterrania Saidia in the Plan d'Azur, a scheme supported by King Mohammed IV to attract 10 million tourists to Morocco by 2010. We signed a contract with Fadesa confident that we were dealing with one of the largest developers in Europe. However, the Moroccan arm of Fadesa got into financial dificulties and were then taken over by Addoha and rebranded Group Fadesa Maroc.

    Since paying a 40% deposit for the apartment in 2006, Addoha/GFM/Excelia have not delivered the apartment, they have never communicated with us to explain why the apartment was delayed and breached the terms of the contract. We therefore exercised our right to have our deposit returned. This is where the real problems started. Addoha/GFM/Excelia decided to again breach the terms of the contract and decided to withold the deposit.

    The blog page is a log of our communications with Addoha/GFM/Excelia. It shows just how for removed Anas Sefrioui's promises in his letters are from the reality of trying to do business with his company. The links page shows that we are not alone....

    http://mediterraniasaidia.co.uk/

  9. I caught the end of Phil and Krusty this morning in which they showed a couple of "investors" around properties in the SE. They eventually plumped for a Bristol flat which had been on the market at £155,000 for two years. Ever the tough negotiator, Phil suggested a low ball offer of £150k. Cue much nail biting before EA informs Phil that the offer has been accepted.

    Fast forward 12 months (2009) and the flat is rented out, but the rental "doesn't quite" cover the interest only mortgage. Phil informs the couple that unfortunately the flat is now only worth 120k, but the couple don't seem to mind and still take time to say "Thanks!"

    Well done, Phil! Another satisfied customer.

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