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Mark Uttley

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Everything posted by Mark Uttley

  1. I bought my first business in 1989. It included the property, which was bought with a mortgage. We were able to offset the interest on the mortgage against the profit from the business. This applies to thousands of small businesses today. OO's have a huge tax advantage over BTL and commercial property owners in that they don't pay CGT.
  2. No. What I am saying is that many of the newcomers to BTL were only focussed on capital appreciation. If the property was bleeding money in the short term it didn't matter, as it's value was going up year on year (or so they imagined). If you had suggested to them that they buy a shoe shop where the shoes cost more to produce than they could be sold for, they would have said you were crazy.
  3. I have to disagree. BTL has always been a business, it just so happens that many of the newcomers didn't realise it. If they had, they might have questioned why they had to subsidise their mortgages every month, even when their property was bringing in a rent. Not all businesses "create wealth". Good landlords provide a service, in the same way that a good book shop or greengrocers provide a service. The trouble with trying to say that BTL is an investment is that (and I think this will happen) the new BTL-Property-is-my-pension brigade will turn to the government for bailouts. Sorry guys. It's a business and you screwed up!
  4. I do have experience of investing in former Soviet states, and the problem is that once a company starts to be profitable the government sometimes change the rules. Oil giant BP have found this out recently with their (now repatriated) oil fields in Russia. My own experience came with Oxus Gold, a British mining company based in Uzbekistan. Contracts were awarded then withdrawn and the share price was very volatile. I made a profit, but was lucky not to be skinned. I was preparing to buy in again when one of the directors was shot and wounded in his home. That's a SELL signal in my book. Last time I looked these shares were trading at about 15% of their 2004 peak. For anyone contemplating buying DGO only use money you don't need, and if you do see a sharp move up, don't get greedy.
  5. What could possibly go wrong? Also DGO is an anagram of DOG.
  6. Phil Woolas was Manchester University Union President whilst I was there and would have condoned this sort of protest back then. He was a thoroughly unpleasant Left wing militant back then. His published extemist views would be very embarrassing to him now.
  7. For anyone thinking of visiting GEI please be warned that it has a problem with pornographic pop-ups at the moment. Apparently this can be resolved by adding ww.popbanner.net to your restricted sites. You will still be able to see the usual cvnts.
  8. Thanks. Does anyone else think that gold could go -ve YoY this week?
  9. Something tells me that Mr Buffet's heart isn't in this market manipulation thing. He wasn't deriding it. He was just pointing out that Buffet is just doing what he has always done. Something else to bear in mind about Mr Buffet is that he is the richest man on the planet.
  10. Try leaving them by the fire and see if they melt. Always glad to help.
  11. I'd give up on the prediction game if I were you, narco.
  12. I could make it. Would it mean that I have to reveal my real identity?
  13. Recession on the way warns MPC's Sentance Crumbs. Is it really that bad?
  14. Really? The retail pharmacy I worked in on Saturday took delivery of a batch of insulin from their wholesalers. I am not aware of any problems in supply. A fall in value of the pound makes the practice of parallel importing less profitable, but it is unlikely to affect the supply.
  15. How do you know that they haven't been factored in? I wouldn't call the bottom yet, but these sort of stupid assertions irritate me.
  16. I thought we'd agreed on deflation followed by hyperinflation. It's very confusing.
  17. "From Telegraph today". Who are you quoting? Is this the opinion of the Daily Telegraph, or are you deliberately trying to mislead us?
  18. I predict that if there is, the weather will be sh1t.
  19. Oh grow up! How can any one say no chance. I can't say that there is no chance that I will be struck blind in the next 10 days, but that doesn't mean I should go out and buy a labrador. Anyway, your man is quite specific. He says there is a 95% chance of a worldwide bank freeze in the next 10 days. Where does he get 95% from? Why not 100% or 85%? He's just pluck a figure out of the air and given himself a 5% escape clause. What a pile of crap!
  20. That doesn't mean that every commentators view is worthy of attention, as you seem to think. How many hours did you have to spend trawling the internet to come across this crap? What made you think anyone else was thick enough to believe it?
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