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Tiger Woods?

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  1. My experience has been that one side often conveniently loses their copy and then claims to never have seen the photos before in their life. One possibility is sending yourself and the agent a sealed recorded delivery copy. At least then you have post office proof that you sent the agents a recorded package and that you have one you sent yourself at the same time which is not opened except in court. Alternatively, get the agents to sign a receipt for the photo CD.
  2. Very true. I started my life as an academic, but bailed out a few years ago. The pay was too poor, and continually hearing about the first year salaries of some of the most feeble of my undergrads finally got to me. There is no point sacrificing yourself by contributing to society in the modern world. Not only will you not be appreciated, you will be looked down upon and pitied. It is a mugs game. (My "20 year old self" is looking on at these statements aghast...)
  3. It also ignores the fact that the trend line on that graph has been skewed by the recent bubble. If we included the di[p that will come, one would see a lower trend line.
  4. That sounds uncannily like my experience with reporting crime to the police. I have real trouble matching up the negative experiences I've had with them when I've reported serious crime, versus how helpful they can be when other things happen. Weird.
  5. That is truly sad...but not unexpected. I trained as an academic...when I started in the late 80s, the profession paid well, but not obscenely so. You traded the sort of money you could earn in industry for some freedoms. Now, lecturers work harder and longer than most people in industry and are paid peanuts, especially for the first half of their career. Which is why I left.
  6. The point is that now one has to saddle oneself with ridiculous debt. As a doctoral student in the early mid 90s, I easily saved a significant deposit, BUT COULD NOT GET A REASONABLE MORTGAGE, because no one would lend to me as I could not prove I had a job secure for the next 5 years. No doctoral student could save a deposit now. It just isn't possible. Moreover, as is clear from the figures you have accepted, even a flat requires a swinging mortgage. I now earn well over 50k a year, but, given the change in the market, I was in a better position to buy when I was a student. My current deposit could have bought me a decent house 12 years ago. Now, it would get me 1/3rd or less in my local area.
  7. Sorry to hear about your loss Dot Bomb, but at least you closed your position when you knew you'd made a mistake. The temperament comes and goes and I have learnt a lot about myself. I've learnt that, if there is lots of other negative stuff going on, it is better for me not to trade, as I make bad emotion based decisions. You ask what I am doing at present - the answer is nothing. I pulled all my money out of my trading account the Monday before last, specifically to get some distance from the current market. Until late March, every piece of bad news seemed to come as a surprise to the market. This is no longer the case and the reaction to it is getting more and more difficult to predict. Moreover, the predictions made by the market prior to the release of numbers are no longer overly optimistic, so bad news is sometimes good news these days. In contrast, at Christmas time I was walking around the shops and could see that the retailers were having a bad time, but the media was making pronouncements that everything was doing well etc. That was a good time to make money, because the market was in denial about something that was obvious to anyone who really took in what they were seeing around them. Knowing when to switch? I tend not to trade against the long term trend unless the market is well and truly oversold, as I have been burnt too many times. In the current environment bad news can come at any time and he market can turn. To know about the "known" news for the week ahead, have a look at www.forexfactory.com. A lot of small traders got badly burnt today and yesterday on the GBP/JPY. I wasn't surprised. I think it has been wanting to go up for some time now. Nothing ever goes down in a straight line. Everyone is talking about the credit crisis and prime ministers and bank governors are making pronouncements about bail outs e.g. swapping mortgage (toilet!) paper for government bonds etc. I even bailed out of a short position on the Monday in question for an £800 loss, when if I had held onto it for a couple more days I would have made £5000. A little annoyed at myself at the time, but in hindsight, I was more annoyed at having shorted to start with. I've expected a bull trap rebound would occur after the initial flurry of calamities. How long it will last, I do not know, which is why I am out for the time being. One thing I have found that helps is to write down my predictions for the day/week/month etc. as an aid to get into and out of a trade, and refer back to them when things are getting dicey. It helps to look at what you believed would happen when you were in a better state of mind, than when a trade has swung badly against you. Fear and greed are killers, and they have made me make many bad trades :-( I'd have made much much more than 30k profit if I was a sociopath I'm sure. One also has to accept that sometimes you will be wrong, and the best thing to do is to close the position and accept the loss..which is difficult to do with money you can ill afford to lose. So don't trade with it. My prediction by the way - the crucial point is 209 in my opinion. If it breaks that and the news keeps being "happy happy joy joy" then it may go a bit higher...213. Perhaps even 217 would be a possibility if we had a period with better news than expected. However, a bit of unexpected bad news and 208.xx might be as much as we see and we'll be back sub 200 again. But, as I said before, my crystal ball got foggy sometime around the middle of March and now I'm taking a break to reassess. In the long run the trend is down and we will see 170/175 at least I suspect no later than 2009. The financial sector is in real trouble.
  8. Have you ever traded? This is absolute bs. Obviously you cannot trade on instantaneous news...as the professionals get it quicker than you, but you can certainly trade on longer time scales. Whatever the theorists claim, the markets never completely price anything in as there is always variation in opinion before figures are released - they always react when confirmation one way or the other occurs. When the news comes out they invariably overshoot and oscillate. All you need is a good feel for the market's psychology and a clearer view of reality than the market as a whole (as opposed to certain participants), neither of which come easily. So far this year I've turned 6k into 36k trading FX, done very well doing the same with gold. Last year wasn't bad either. I'm not saying it is easy. If you go in blindly you will lose your shirt, and it is a time and emotion consuming "hobby", but what you claim is just wrong, wrong, wrong, wrong, wrong and obviously so to anyone who has spent time trading.
  9. Just go to www.xe.com - can even view it over time using their free charts. (see link at bottom of main xe page).
  10. Hmm, just wait until she comes to renew her mortgage. I think she will find you don't need to sell to be affected by negative equity!
  11. The USD is up against the JPY as well. I suspect we are in one of those bull traps...everyone is conveniently ignoring the bear quietly snacking on the guest in the lounge. The news has been bad, but it is contained...the rights issue will "solve all of RBS' problems that really are only due to buying ABN Amro last year etc. etc. yaddah yaddah yaddah", hence it is "good" bad news. The givernment (was a typo, but I'll let it stand...) will "bail out all the feckless, irresponsible borrowers" by surreptitiously stealing from the frugal and responsible (how Robinhood-esque, robbing from the rich to pay the poor) There will be much more bad, bad news. The only question is when? Will we get a happy sunny summer, followed by Autumn blues, or can it not be contained until then. I suspect that reporting season will come and go and everything will look "okay", then the bear will get hungry again...and come looking for the mortgagor in the kitchen...
  12. The one's who will survive were those who were canny enough to lock in low rates for 10 years.
  13. Depends how may properties he has and what his leverage is on them. Looking at his home page, and the "value" of his portfolio, I suspect he owns about 100-150 properties (assuming, as it appears to be the case, he is up north). If he is pulling 600k per year after mortgage expenses, then he may have quite a buffer. However, given the likely number of properties he owns and rents in that area, I doubt that this is the case. I suspect the 55k per month is what he gets before mortgage payments. I suspect he is bailing out to get liquid capital to keep part of his empire intact as his mortgages are killing him, and trying to off load his properties to his website's readers.
  14. Well worth the read/laugh. He's only just realised that he has capital tied up in his properties that isn't earning him anything...(clever)...then he goes and ruins it by thinking he will go and leverage himself higher (muppet). What a genius.
  15. Their portfolio is so concentrated they would have real difficulties unwinding it quickly...as would their bankers...they may survive because of the fact that if you owe the bank a million, you are in trouble, but if you owe a 100 million, the bank is in trouble... But I doubt it will be pleasant.
  16. Yes, Bardon beat me to it. Brand name take away and delivery pizzas in Australia are anywhere from £2.75. I still can't believe the price Dominos and Pizza Hut charge in the UK...or that people will pay it.
  17. Don't know whether it is supported by the car sale statistics, but when I first came to this country in the mid 90s, I noticed a lot of F regs, but very, very few Gs and Hs. This was the first thing that made be think, as a very young man, something terrible had happened to the UK economy in the early 90s.
  18. Had some guy turn up at the door looking to buy scrap gold / metal etc. First time I have seen that in a long time.
  19. Precisely. Having spent a large portion of my early career teaching future bankers, I can assure you that their earnings have little to do with relative intelligence or economic worth. Commercial law, banking etc. is to a large extent appropriation via gate keeping and parasitism.
  20. Yes, given what they were able to whip up when a building or two collapsed, just imagine what they could get rubber stamped if an economy collapsed...
  21. Having just been back to SE Queensland - nope, especially with the increase in petrol and food prices over the past couple of years, in my opinion. Truly ridiculous prices.
  22. The problem would be ameliorated if people would recycle water in SEQ...but apparently, whilst being happy to drink processed fish/bird/roo/moo poo, they don't want to drink the human stuff. Given that recycled water is VERY clean, complete madness due to weak political will. Much better to flood out hundreds of peoples' farms and homes and destroy the lungfish in the Mary River.
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