Monday, Oct 26, 2009

The Man with 900 Houses

Renegadeeconomist.com: The Man with 900 Houses

"Ross Ashcroft catches up with Britain’s Buy to Let King Fergus Wilson.
A man who bizarrely seems to be totally in the dark to the underlying mechanisms that drive the property market."

Posted by doomwatch @ 03:53 PM (1236 views)
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8 Comments

1. jack c said...

There has been quite a bit of debate (publicity) regarding the Wilson's of late and presumably they have yet to sell their ever so attractive property portfolio.

To summarise Fergus's views :-

(1) Western economies - the only way is up
(2) Property prices - after a sleepy autumn 2009 - the only way is up
(3) Banking crisis behind us - the only way is up

I hope he has heard of Tenon Recovery because I think by 2011 he going to need them !

Monday, October 26, 2009 04:20PM Report Comment
 

2. Lukeskywalker said...

That's a great find.

Monday, October 26, 2009 05:27PM Report Comment
 

3. estrader said...

The more I read about Fergus Wilson the more I realise he is an amateur. Smart people sell into rallies/strength and are long out of the market before it collapses. I saw an (ex) property tycoon talking about the “current” (circa 2007) state of the U.K property market and said it can’t last. He had already sold his entire property portfolio and made a cool...wait for it...£500 Million.

Monday, October 26, 2009 09:19PM Report Comment
 

4. greenshootsandleaves said...

estrader @2 'I saw an (ex) property tycoon talking about the “current” (circa 2007) state of the U.K property market and said it can’t last. He had already sold his entire property portfolio and made a cool...wait for it...£500 Million'

That sounds like the person who was referred to by someone on HPC a few months ago as the 'guy with a Greek name'*. It was argued that his decision to sell at what turned out to be the right time was the result of luck rather than sound judgement. The rather bullish comments he made about property soon after the downturn suggest the latter. That said, there's no doubt whatsoever about the verdict on the people who bought his portfolio (and on those who bought fuxtons, for that matter).

* Perhaps he ought to spend some of that £500m on better PR..

Monday, October 26, 2009 10:27PM Report Comment
 

5. jackas said...

Seems like a nice man.

Nice and fat,

Tuesday, October 27, 2009 12:35AM Report Comment
 

6. alan said...

@ jack c,

Fergus is trying to sell his houses. He would summarise the situation the way you outlined, wouldn't he?

What I'd like to know is what he really thinks!

Tuesday, October 27, 2009 09:03AM Report Comment
 

7. Tennouji said...

@ 5 I don't think he really thinks.

Tuesday, October 27, 2009 09:51AM Report Comment
 

8. jack c said...

@ alan - agreed he has to talk a good game - I suspect he'll find it was much easier to buy the properties than offload them on the terms he needs

I'd be curious to hear his view on interest rates - I doubt his response to that one would be "the only way is up"

Tuesday, October 27, 2009 11:22AM Report Comment
 

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