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Long Tom Ponzi


longtomsilver

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longtomsilver

Went out last night for a friends birthday drinks. One of the guys I know runs a shopping centre and a few made it from there. Chatting with one lady who asked what I did;  not to sound without purpose told her my story, main carer for my kids, occasional bar work and trading stocks and shares. She questioned whether I actually made any money, politely pointing me in the direction of safer retail products and when I replied that £1,000 invested with LTS asset management 7 years ago would be worth £3,670 today she laughed and said there must be some mistake so I showed her the account with £183,500 and the contributions made in the first 3 years totalling £50k she was gobsmacked and offered me £15,000 to invest on her behalf within fifteen minutes of knowing her and not long after that had a few of her other friends desperate to part with £7,000 cash. One young lass asking how much I can turn £1,000 into in 3 weeks. I dismissed them saying investments should be made over a time scale of at least five years, you could lose the lot and that I'm not financially qualified and wouldn't be in a position to do so, this lady was now nodding like a dog and told me she was a qualified financial advisor and happened to be the branch manager of a well known bank. Absolutely the last person who i'd thought would be taken in and only adding credence to what could be a very well remunerating ponzi (for me at least). Since 2014 most people's idea of a retail get rich quick scheme has been to put money on one of Neil's horses while he counted his £70million from his bond lair and his products turned out to be a ponzi of epic proportions based on nuclear fusion and mattresses - my sister had £20k with him and I told her to exit in February but she would not listen. It's human nature to reach for unrealistic gains and then common sense goes out of the window and I anticipate there'll now be a pent up demand for the next *star* above or below board to mop up money that would have previously been allocated to the woody slush fund. History doesn't repeat but it rhymes. 

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1 hour ago, longtomsilver said:

She questioned whether I actually made any money, politely pointing me in the direction of safer retail products and when I replied that £1,000 invested with LTS asset management 7 years ago would be worth £3,670 today she laughed and said there must be some mistake so I showed her the account with £183,500 and the contributions made in the first 3 years totalling £50k she was gobsmacked and offered me £15,000 to invest on her behalf within fifteen minutes of knowing her and not long after that had a few of her other friends desperate to part with £7,000 cash. One young lass asking how much I can turn £1,000 into in 3 weeks

You should have pointed them in the direction of YRS asset management, that would have taught them a lesson!...sorry YRS couldn't resist that one knowing your ability to change market direction upon buying :-) :-) :-)

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  • 2 weeks later...
On 09/11/2019 at 14:23, longtomsilver said:

Went out last night for a friends birthday drinks. One of the guys I know runs a shopping centre and a few made it from there. Chatting with one lady who asked what I did;  not to sound without purpose told her my story, main carer for my kids, occasional bar work and trading stocks and shares. She questioned whether I actually made any money, politely pointing me in the direction of safer retail products and when I replied that £1,000 invested with LTS asset management 7 years ago would be worth £3,670 today she laughed and said there must be some mistake so I showed her the account with £183,500 and the contributions made in the first 3 years totalling £50k she was gobsmacked and offered me £15,000 to invest on her behalf within fifteen minutes of knowing her and not long after that had a few of her other friends desperate to part with £7,000 cash. One young lass asking how much I can turn £1,000 into in 3 weeks. I dismissed them saying investments should be made over a time scale of at least five years, you could lose the lot and that I'm not financially qualified and wouldn't be in a position to do so, this lady was now nodding like a dog and told me she was a qualified financial advisor and happened to be the branch manager of a well known bank. Absolutely the last person who i'd thought would be taken in and only adding credence to what could be a very well remunerating ponzi (for me at least). Since 2014 most people's idea of a retail get rich quick scheme has been to put money on one of Neil's horses while he counted his £70million from his bond lair and his products turned out to be a ponzi of epic proportions based on nuclear fusion and mattresses - my sister had £20k with him and I told her to exit in February but she would not listen. It's human nature to reach for unrealistic gains and then common sense goes out of the window and I anticipate there'll now be a pent up demand for the next *star* above or below board to mop up money that would have previously been allocated to the woody slush fund. History doesn't repeat but it rhymes. 

If you've managed 3 and a half times returns in 7 years surely that is spectacular and lots of people would be interested in how you actually did it? (and how did you by the way, did you just pick a few big winners?) Btw how do you manage to get TC's ect when you have so much saved up isn't that taken into account?

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longtomsilver
49 minutes ago, JoeDavola said:

If you've managed 3 and a half times returns in 7 years surely that is spectacular and lots of people would be interested in how you actually did it? (and how did you by the way, did you just pick a few big winners?) Btw how do you manage to get TC's ect when you have so much saved up isn't that taken into account?

The £180k+ is held within exMrsLTS SIPP and if it were in mine then that wouldn't be taken into account either (I have £25k+ held there and am adding to this at a rate of £240p/month; again as SIPPs aren't depriving me of capital). 

The big gains came from speculation and luck (timing); off the top of my head IQE in at 20p out £1.40, SLP in at 6p out at 18p making £50k on the original £50k then a big bet on Sainsbury's for a further £20k (selling when they hit £3), Dairy Crest and eSure that were value buys and got taken over (£10k profit on each). The yield (4.4% as of today) has taken me from that £160k to £180k+.

I got offered a promotion yesterday that would take me into a lower management (skipping the team leader position) post. Pay would be £12p/hour (up from £8.50) for 35 hours, said I'd think about it as part of a job share - still less than I'm getting on universal credits for working 1-2 shifts per week 🤷🏽‍♂️ 

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2 minutes ago, longtomsilver said:

The £180k+ is held within exMrsLTS SIPP and if it were in mine then that wouldn't be taken into account either (I have £25k+ held there and am adding to this at a rate of £240p/month; again as SIPPs aren't depriving me of capital). 

The big gains came from speculation and luck; off the top of my head IQE in at 20p out £1.40, SLP in at 6p out at 18p making £50k on the original £50k then a big bet on Sainsbury's for a further £20k (selling when they hit £3), Dairy Crest and eSure that were value buys and got taken over. The yield (4.4% as of today) has taken me from that £160k to £180k+ today.

I got offered a promotion yesterday that would take me into a lower management (skipping the team leader position) post. Pay would be £12p/hour (up from £8.50) for 35 hours, said I'd think about it as part of a job share - still less than I'm getting on universal credits for working 1-2 shifts per week 🤷🏽‍♂️ 

Fair play to ya!

And yeah the promotion would only be worth it if you think you'd prefer that kinda work.

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longtomsilver
Just now, JoeDavola said:

Fair play to ya!

And yeah the promotion would only be worth it if you think you'd prefer that kinda work.

I take it as a compliment that they deem me (pub) management material on the few shifts I do. If they come back to me with <16hours I'll take it and salary sacrifice the additional pay into my pension. The job won't change much; it's all hands on deck anyway but I'd get to wear my own shirts - that's incentive enough for me. I love a Lewin's blue shirt with cutaway collar 😂

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