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9% Return? Scam?

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  • YYjames
    replied




    So:

    • guarantee is a dirty word and should arouse suspicion

    • 9% is totally possible, but unwise to expect it

    • probably could have been cooler to one another


    Let’s go have some beers.
    Click to expand...


    Well said DMFA

    Sorry if I offended people. Not the intention.

    Would be interested as Rex said if this is a guaranteed (as in legal term) vs sales/marketing guarantee. I really thought it was more the later hence my thread long rant that you all had to suffer.

    Leave a comment:


  • DMFA
    replied
    So:

    • guarantee is a dirty word and should arouse suspicion

    • 9% is totally possible, but unwise to expect it

    • probably could have been cooler to one another


    Let's go have some beers.

    Leave a comment:


  • YYjames
    replied
    That's fine but is this company legally guaranteeing it? If so where (document/fine print etc)?

    Leave a comment:


  • YYjames
    replied
    Rex I didn't recommend to young doctors to invest in real estate. I said invest in skills outside of medicine - there is a difference. Since you are so interested, real estate is still a smaller fraction of my portfolio. I am more into small businesses (my practice, another bought practice etc)

    At least you acknowledge that for you real estate is not not a good fit. Great. I have no problem with that, but at least consider that may be for other aggressive docs it is. Note the emphasis in my prior post on aggressive, or risk taking etc. Of course there is risk, but then greater reward.

    Since you personally said real estate isn't for you I am going to tag that "personal" preference and say, personally, US govt bond "guarantee" is no guarantee at all.  US government backing is ultimate "insurance" that money is secure / dollar is secure. Thats still not 100% guarenteed. Close but not 100%.

    That much conservative approach also equals very low returns in treasury.

    Any my research was to see the word guarantee plastered on their website and I didn't see it because that is what the arguments are against my posts. If it is not on their website, then I can only assume that it was on their radio ad - isn't that the reason I am getting grief and personal attacks on ? because if they are not using the word guarantee then I do believe that you can't just discount them as the evil ponzi scheme you guys think they might be. On surface review, looks like they are hard money lenders but I may be wrong.

     

    Leave a comment:


  • YYjames
    replied
    Since I invest in real estate I did find this that readers may find helpful regarding the company

    https://www.biggerpockets.com/forums/92/topics/279057-texas-first-financial

    I went to their website and didn't see any guarentees but I am sure they are advertising it as such as I am reminded of it so forcefully by other posters.

    Anyways, re: the ad hominem attacks on me - I already conceded that there is no such thing as guaranteed returns. No investment is guaranteed. My "babbling" - thinking one cannot get high returns is what I was trying to explain, and I failed I see that. May be refer to aliaott post.

    Also AlexxT - what is S&P average the last 10 years? What is it going forward? According to THIS book its like 6.5%. I'll trust this more than you thank you very much.

     

    I don't care what you think of me as a physician or an investor but to young physicians my message will always be: Don't sit on index fund only, go out and be aggressive and learn more skills OUTSIDE of medicine. It'll come in handy.

    The rest I'll just leave readers to decide what to do.

    Leave a comment:


  • AlexxT
    replied


    Nothing is GUARENTEED in life.
    Click to expand...


    You conceded that there is no guaranteed 9% return, yet you keep babbling on and on.

     


    I am better off not coming to this board. So dumb.
    Click to expand...


    And yet you keep coming back.

     

    Of course you can get 9%.  The S&P 500 has returned an average of 10% a year for the past 80 years.  But it's not guaranteed.  We were referring to a guarantee.

    You write the same thing in all your posts, about what a great investor and businessman you are.  Sorry, I'm not convinced, and your posts in this thread haven't done anything to improve your credibility.   What you have demonstrated quite convincingly is that you won't admit when you're wrong.  That's a very unfortunate quality in a doctor or an investor.  If you actually are either one, that's too bad.

    Leave a comment:


  • YYjames
    replied
    aliaott - That is the basis I was trying to convey. The sentiment is 9%? psh - impossible! must be a scam.

    Thanks for the highlight, red etc and calling me a ************************. Didn't know name calling came easy to you. You are a physician? Patients must love you. I may say things like a blanket "Dumb" (to the approach of investing, NOT the person), sorry if I offended people, but ************************?

    I wasn't being a "dickhead". I have encountered countless times on this board that such returns are phony, not-sustainable or whatever. This converts quickly to well those are not guaranteed etc. If I say that I have generated 10+% for 10 years then what? I am fake?

    Notice how AlexxT said he wants to do his returns the "old fashioned" way 7% or whatever. More like under 6% this decade buddy in the stock market no matter the allocation. This means he doesn't believe in anything but his way.

    My criticism isn't his approach, its mostly for the thinking that high returns aren't possible. Rex then lecturing me on how this product must be something amortizing (principal+return). Well if people didn't do their due diligence then their mistake.

    These returns, they happen. It takes work but they are there, just not as laissez faire. And they don't have to be amortizing.

    To me my approach to my "portfolio" IS guaranteed.  I don't have a hedge fund and I don't manage money. No, when I say guaranteed I am not signing papers, and years of training in medicine has taught me that "guaranteed" things never exist, but we can get close. May be that's what that group is advertising. Are they breaking SEC rules? yes they are, but lets not jump to conclusions.

    How many times you guys know everything working according to books and then you encounter a bizzaro case that doesn't fit any medical book you learnt, neither in diagnosis not in treatment even if the pathology is known and widely studied? There is no guarantee.

    Since this group online is quick to destroy any creative thinking unless you are not following anything close to index investing for wealth growth, I am wasting time. Only reason I responded was to the direct name calling by DMFA.

    For the record, a few posters get me (i think) - Vagabond, Zaphod, they don't name call me and I have exchanged many PMs with people curious with my approach to investment, but its over. Also I have an index portfolio, 10% net worth, but am not gungho about 6% returns.

    Leave a comment:


  • DMFA
    replied




    I’ve been driving around the Dallas area and hearing a lot of commercials about a guaranteed 9% return from a group call Texas First Financial.  I almost hesitate to bring it up at all because I’m almost sure it is a scam.  Has anyone worked with this company or know what they actually invest in?

     
    Click to expand...


    Bolded/italicized/redded (word?  maybe I need ESL?) to clear it up for the person who wanted to be a ************************ about it.

    Let me go put the button eyes back on my straw man...

    Leave a comment:


  • Dicast
    replied
    The radio ad are promoting a guaranteed 9%. I just cant see how they can keep pushing this stuff when no one else can even guarantee anything close.

    Leave a comment:


  • YYjames
    replied
    Thanks again for the grammar lesson

    The headline says 9% return. Not guaranteed return. I am criticizing the thought that 9% cannot be achieved. That is the underlying thinking I get around these parts. People eye consistent 9%+ returns as suspicious.

    No one can guarantee anything but reasonable risks can ensure - yes guarantee - such returns long term. Consistent returns can be achieved. Whether its through small business, real estate or something that is not the market only approach.

    Clear for you yet? Or should I pay an oxford professor to script it here?

    But you are correct. Why waste my time arguing. I am illogical, because its either this fixed way of thinking or doing things or you are a shyster. May be someone should try to understand the other party and get off their high horse. May be that group is doing legitimate stuff? Because I have seen people achieve such results for 10+ years. They are my neighbors etc etc.

    And what guaranteed or non-guaranteed way do you have? Its not guaranteed, so then why should I follow your way? Why can't this groups way be better than yours? I much rather try and be aggressive than rely on the stock market. That is the essence I am trying to convey here.

    By the way, if you are in USA, you may see patients who don't speak English well, you tell them the same thing Alex, that you have comprehension difficulties -> go take TOEFL?

    Leave a comment:


  • AlexxT
    replied


    Nothing is GUARENTEED in life. Not life. Hence the adage. Does that mean you shouldn’t experiment or take risks ?
    Click to expand...


    You seem to have a problem with reading comprehension and logical thinking.

    The ad we referred to said they offered a guaranteed 9% return.  We are skeptical of a 9% guarantee.

    You say we are "dumb" and "horrible" for doubting this 9% guaranteed return,  yet here you are saying that nothing is guaranteed.

    So which is it?

     


    Whatever. I am better off not coming to this board. So dumb
    Click to expand...


    Sounds like a great plan.

    Leave a comment:


  • YYjames
    replied
    Nothing is GUARENTEED in life.

    Not life. Hence the adage.

    Does that mean you shouldn't experiment or take risks ?



    Leave a comment:


  • AlexxT
    replied


    Scoffing at 9% return as scam ? This is the crowd think here? Horrible
    Click to expand...


    OK, you show me a 9% guaranteed return.  Emphasis on guaranteed, with no risk of default.

    Leave a comment:


  • YYjames
    replied
    Don't know if they are shysters or not but...

    Scoffing at 9% return as scam ? This is the crowd think here? Horrible

    It's like a Pavlov dog training - "don't expect more than 5% rinse and repeat x 1000" why cuz the "fearless" leader of this follow the heard monkey see monkey do says so?

    Whatever. I am better off not coming to this board. So dumb.

    Leave a comment:


  • Hatton
    replied
    Thanks for taking one for the team.  I went to the site but did not download anything.

    Leave a comment:

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