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Anton Kreil Legendary Trader, Says Renting Can Be An Asset

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if you rent cheaper than buying, invest save the difference, no upkeep,no buying cost. max flexibility. min risk. s##t neighbours, just move.

I see no down side to renting in our current economic predicament.

if some idiot wants to buy a house, take on the risk of massive capital depreciation and rent it to me cheaper than I can buy it for, I'm not going to say no.

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I rented for 4 yrs in the UK recently. A decent sized 1 bed. A no brainer. Place was used by myself for working when I was required to be onsite in the UK, the rest of the time my family and friends enjoyed free accomodation.

To buy - it was in Wandsworth south London - would have cost me £280K. Today, they are being hawked for £350K, but few are selling at this price. At £280K, I would have been paying between £1300-£1500 /mo on a 25yr deal. Variable rate, so expect that to rise in lifetime of loan. I paid the LL £1200/mo all in. Hot water included. No maintenance charges etc for me to worry about.

OK,it has risen in price, but I was able to walk away from the place with 1 mo notice after my contract ended.

I had no risk in the place. All borne by the LL. Good luck to them if they can turn in a profit / decent yield over the period they own it. Just don't come crying to me if it all goes pear shaped. That's the Risk.....

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If only what he is saying worked in the real world.

Apart from being a bit of a flash git, there was nothing wrong with what he was saying. I though these were the most helpful points:

2. Rent to Own – Define Assets and Liabilities Properly (42.33)

6. Seek out Alternative Education (

.45)

you are here so I guess that counts partly towards the alternative eduction! We probably all consume too much mainstream media (although he was talking more in a trading sense).

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if you rent cheaper than buying, invest save the difference, no upkeep,no buying cost. max flexibility. min risk. s##t neighbours, just move.

I see no down side to renting in our current economic predicament.

if some idiot wants to buy a house, take on the risk of massive capital depreciation and rent it to me cheaper than I can buy it for, I'm not going to say no.

The problem is that it is hard to predict future costs. Saying that I wouldn't advise someone to buy in London at the moment. Then again I was going to advise someone in 2002 not to buy in London so what do I know.

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I am having a hard time sitting down and watching it all in one go, so turned it into a mp3 and chopped it up into segments to listen in the car. So far some good wisdom, that echoes Rich Dad Poor Dad.

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I am having a hard time sitting down and watching it all in one go, so turned it into a mp3 and chopped it up into segments to listen in the car. So far some good wisdom, that echoes Rich Dad Poor Dad.

Yes, very similar lines of thought. Middle class people buy liabilities thinking that they are assets sort of thing. And of course the whole, money is not evil.

The stuff I've seen from rich dad over the past couple of years has been very crashly crashly. I don't know if that is a sales tactic or what he really believes.

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hahaha aaaah Mr Kreil, what a hero: his series on the beeb "Million Dollar Traders" in 2008/9 during the crisis inspired me I guess in many ways as a 3rd year uni student to take up a career in the City, and last year I had the pleasure of a night out with him in west London. TOP guy, great laugh on a boozy night, ex-Goldman trader, now in the Hedge Fund game and really knows his stuff to be fair - I remember him telling us and all his brokers over the copious amounts of Jagerbombs that night about his worst day as a trader: lost however many million quid in one day on Christmas Eve and had to drive back up to Liverpool for the holidays and tell his mum what'd happened!

I was really surprised how many people subscribed to his/my/this forum's view on property that work in the markets when I first started.

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Executive Summary:

1

1. Be indifferent in the face of money.

People don’t understand the function of money and they are associating with it too much excitement. Money should be treated as a commodity.

2. Define correctly the assets and liabilities.

A cornerstone in establishing wealth is the correct definition of assets and liabilities. Poor people incur liabilities to acquire assets, while wealthy people avoid liability when assets accumulate. Trader advises not to make commitments, to live according to your own capabilities and to acquire assets for cash.

3. Create your own infrastructure.

Start with something small, build your business from scratch. The basis here is saving and creating mechanisms for generating revenue, the accumulation of assets without incurring liabilities. Those assets will be also infrastructure in retirement.

4. Travel, get in perspective, find your own place.

When you reach rewarding level, it is worthy it to take a trip around the world for a year or two. It will be great opportunity to get knowledge about other cultures and countries, to expand your horizons as well as to see how certain things can be solved differently from the methods you know from your ‘neighborhood’.

5. Understand that the risk is relative, and not two-dimensional.

People badly perceive risk as a multidimensional phenomenon. They think that, the greater the risk to undertake the greater may be loss or gain. But in fact, the risk depends on many factors and can be largely, intentionally shaped.

6. Look for alternative education.

The modern educational system does not teach how to succeed and acquire wealth. It is not geared to the success of the individual. The second part of the problem are parents who are guided by emotions. They want to protect their children by finding them safe but unambitious job.

7. Learn to value your time.

People work for nothing. They exchange their time without receiving anything in return. They get a paycheck, barely enough to pay their obligations and to survive to the end of the month. You need to change it and value your time.

8. Get rid of the smartphone.

If you value your time, you should get rid of the smartphone in order to increase your effectiveness. Social networks and whole bunch of useless applications are distracting you from your real purpose.

9. The mainstream media are useless. Don’t use them.

Listening to the mainstream media is for the trader meaningless. The task of the trader is predicting the future, and the media reflect on what was in the past. Moreover, they all have to please advertisers rather than to get you necessary knowledge.

10. Select a model to follow that suits your purpose.

Currently, the media are promoting celebrities who supposed to be role models, but don’t know for what reason would anyone follow them. It is worth to look for role model who have achieved something.

http://quencecapital.com/10-ways-to-financial-success-by-anton-kreil/

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I watched it, a few points in no particular order:

-on the whole some good advice, but is it really anything new?

-is it just me, or does he speak in a really odd way?

-his business is getting people to sign up for his courses not trading, if you were really a mega trader would he really bother doing that?

-in the end he comes across like someone who has read some self help books, decided they can do anything, but in the end....rights another self help book

-the whole thing seemed to be a big advert for his products!

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I've not been and don't intend to. I don't know if it is a leader into paid services.

Edited by 200p

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Is it worth going to their free seminar?

my take is that he makes his money selling his paid for service, not trading. So what does that really tell you??

I'm sure his counter argument would be he makes plenty trading, and offers the training service to help people and because "he doesn't want to leave any money on the table"

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His explanation of the house-is-a-liability theory makes no more sense than the explanation in Rich Dad, Poor Dad. Having warned everyone not to confuse assets with liabilities, he immediately goes on to do just that! The mortgage is a liability. But the house is an asset.

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