Forums / Community / Heads Up! / ASIC update on Jamie Mcintyre

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  • Profile photo of Nat RNat R
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    @nat-r
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    Profile photo of TerrywTerryw
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    @terryw
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    I wonder why he just didn’t get the AFS licence?

    Terryw
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    Profile photo of Nat RNat R
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    @nat-r
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    Agreed…if he really has that much “knowledge” about the options market and he is as smart as he claims then getting the AFS licence should be 30 mins work for him.

    Profile photo of pelicanpelican
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    @pelican
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    so now what happens ?

    He goes out, gets a licence, and continues ??

    Profile photo of XeniaXenia
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    @xenia
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    Forget Jamie Mc Intire, I don’t agree with his investment strategies and I knew I didn’t from the first 5 minutes of watching one of his videos.

    What is ASIC trying to say here, the public are a bunch of uneducated morons who have to be protected from themselves?

    I was at a birthday party last night, the cake came out and the host told the 15 people there that it was chocolate cheesecake. When they served it out, it was pink with berries in it. OBVIOUSLY NOT CHOCOLATE!!! What astounded me was peoples reactions, they kept believing that it was chocolate cheesecake, and discussing how different it was. True story!!! I was SHOCKED! I again asked the host, what the cake was and he said chocolate cheesecake, I then asked, what part of it is chocolate, I can’t see it. Immediately everyone agreed.

    Is this kind of sheep-like, brain dead mentality what happens at seminars? Do ASIC know this, is this why people have to be protected? I have to question who is at fault here, the presenters or the followers?

    Cheers
    Xenia

    We buy properties in all conditions. Can offer Immediate Cash Settlements, No Real Estate Agents Required
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    Profile photo of pelicanpelican
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    Xenia,

    Agreed….

    I sometimes wonder what has happened in the world ? has the government been secretly feeding us “dumb down” drugs in the water supply or something ??

    When did everyone become so gullible ?? When did people stop being responsible for their own actions ?? ………

    Weird…………..

    Profile photo of Nat RNat R
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    @nat-r
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    The problem is that the government can’t legislate to stop people being just plain dumb and guliable so they have to come from the other end and create barriers and laws so that morons will find it more and more difficult to hand their cash over to con artists. There was a fantasitc article in the paper yesterday about a spam email company that was being prosecuted for sending out millions of emails….the head of the company stated that they sent out a series of spam emails for a seminar that had no merit whatsoever….they got 20,000 people to pay $100 to attend !!

    We all know that a fool and his money are soon parted…the thing I struggle with is how did they get together in the first place ??

    Profile photo of catacata
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    I have a friend who lost $5k in a scam. I don’t know much about it but it was a while ago now. Something about starting a bank that will lend on anything positive geared, but not worring about your personal finances.
    My friends in-laws also got taken for $25k, but they are not to bright.
    If it smells like a scam, looks like a scam then it probably is a scam.

    CATA
    Asset Protection Specialist
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    Profile photo of RedTimRedTim
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    @redtim
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    Originally posted by Cata:

    I have a friend who lost $5k in a scam set up by Jamie.

    (Cata, I hope you contacted your solicitor before posting this comment.)

    Thanks Nat R, you help keep things in balance. The more people that develop your mindset the better.
    Think about it for a second…
    What if everyone owned rental properties? What if only 10% of the population owned just 10 properties each (or 130 for than matter)?
    (This is the answer as to why so few people get more than about two or three properties, there simply aren’t enough)
    What if everyone beat the market average in the sharemarket? Sorry, can’t happen!
    Why do 80% of businesses fail (then another 80% of those later on)? Because each and every person only has a certain amount of money to spend on stuff. I can only shop at one supermarket at a time, not ten.
    Nat R, the other great thing about your mindset is that it’s true. You simply can’t do what Jamie teaches. The stuff he talks about is too good to be true. But it’s interesting to note that nothing is ever too bad to be true, is it? ASIC has never been too bad to be true? But Jamie might be too good to be true…

    Like I said Nat R, you can’t do what Jamie teaches, doesn’t mean someone else can’t. The truth is different for everyone.

    So thankyou once again Nat R, Cata, pelican and all the others who vituperate ‘gurus’ in this forum. A special thankyou also goes to Neil Jenman.

    Want some advice for investing in property? The general consensus here seems to be that property is currently well overpriced. Well I suggest you wait ten years and then start buying property…

    Red
    Tim

    If you think I’m the problem, then you have to change me. If you realise that you’re the problem, then you can change yourself, learn something and grow wiser.”
    -Rich Dad

    Profile photo of Nat RNat R
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    Tim …I don’t quiet understand your post….honestly I can’t really tell what your point is …. but you should be aware I can do what Jamie teaches…infact I have earnt a very good living for the last 16 years in investment banking trading bonds, FX options, futures etc and what I do know that it is not suitable for the average man on the street who has done a quickie course run by somebody who can’t even be bothered to get a AFS licence.

    Sorry to drop this on you like a tonne of bricks but you sorta walked right into this.

    Now that your “mindset” has been corrected I would like to hear your response.

    Profile photo of RedTimRedTim
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    So if someone wants to learn what Jamie (and you) do, where do they go?

    Personally, I think anyone who wants to be an investor (not those who don’t want to be) would learn more from Jamie, than from ASIC. And would learn more from ASIC, than this forum.

    By the way, which parts of his two 30 hour seminars didn’t you like? And what did you think of his new internet seminar? Have you had any trouble using his mortgage brokers, or accountants? Did you find his free DVD overpriced? You’ve obviously had some serious issues with his companies considering the way you slander him?

    And what advice do you have for someone wanting to retire this century? My super is negatively geared, it’s costing more than it’s making. And how’s everyone going with all their positive-cash-flow houses? 130 yet?

    I’m willing to learn ANYTHING.

    Profile photo of Nat RNat R
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    Well for a start there are many legitimate places to do courses run by industry professionals. The reason you won’t learn much from ASIC is that they are a regulator not an educator. The SIA and ASX both run well respected courses on how to trade options…unfortuanlatley they do not depict people standing next to private jets or driving ferraris on their brochures so they tend to miss out on the gullible punters.

    And please do not lump Jamie and me in the same bucket…I’m a professional market dealer with the backing of a large investment bank and I have an extensive team of accountants, compliance officers, computer programers, stock analyists, economists etc behind me ….he runs seminars and has ASIC on his back.

    As for sladering him…I think you have missed the mark here…my original post was a link to an ASIC article regarding a ruling against the company.

    As for your super being negative geared…I think I konw what you mean but your terminology is wrong.

    I hope this helps !

    Profile photo of RedTimRedTim
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    No hard feelings, it’s just that some people do make money from seminars, and of course some don’t.

    Do whatever works, I don’t care, it’s only money.

    Now where did I put my “SMSF For Dummies” book…..

    Profile photo of Nat RNat R
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    @nat-r
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    funny how he has moved his bank accounts to NZ and his seminars to NZ/Fiji…why not hold them on a ship off the Australian coast line but just in international waters :)

    Profile photo of XeniaXenia
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    @xenia
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    Isn’t it funny that when the real estate market is booming, the gurus are worshiped and followed, when the market is flat and it becomes harder to make money, the gurus are slandered. Its all their fault!!!!

    Thanks to Neil Jenman????? For what? For raking in the millions by creating and selling controversey while the average mum/dad investor still has no idea what investment strategy to use. Give me a break!!!!

    Whether its developing, fliping properties or trading options on the share market, any strategy can and DOES work, provided you educate yourself enough to understand it and make it work. If it dosen’t then I’m sorry but you have just scammed yourself!!! Take responsibility and move on, or else stop wasting your time and money on seminars and just stay in a job!!!

    We buy properties in all conditions. Can offer Immediate Cash Settlements, No Real Estate Agents Required
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    phone 0412 437 582

    Profile photo of catacata
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    Good post Dr.X.

    As for mt post, I changed it and am sorry. Even though this is my personal opinion only. It was also shut down by ASIC, unless I have my info incorect.

    How do you guys stay up so late or perhaps early?

    CATA
    Asset Protection Specialist
    [email protected]

    Profile photo of snicsnic
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    @snic
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    Hi all

    I two would like to thank Dr.X for her post. I could not agree with her more. I brought the DVD homestudy from 21st Century Academy.
    The strategies do work. And just for your info you don’t give your money to Jamie to do the strategies that he teaches, you have to go through professionals to do them. I can tell you that if you want to trade options, the paper work involved, unbelievable . So yes you have to educate yourself enough to understand it, to make it work.

    Profile photo of AmandaBSAmandaBS
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    Maybe it was a white chocolate cheesecake with berries??

    As posted by Dr X

    I was at a birthday party last night, the cake came out and the host told the 15 people there that it was chocolate cheesecake. When they served it out, it was pink with berries in it. OBVIOUSLY NOT CHOCOLATE!!! What astounded me was peoples reactions, they kept believing that it was chocolate cheesecake, and discussing how different it was. True story!!! I was SHOCKED! I again asked the host, what the cake was and he said chocolate cheesecake, I then asked, what part of it is chocolate, I can’t see it. Immediately everyone agreed[/red]

    AJBS

    Profile photo of XeniaXenia
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    @xenia
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    Great one amanda, maybe it was!!!![biggrin]

    We buy properties in Adelaide. No Agent Fees.
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    phone 0412 437 582

    Profile photo of daveaustindaveaustin
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    I was just reading how xenia doesn’t agree with Jamie McIntyre’s investment strategies. Fair enough but I have studied all of the strategies he uses and they are all viable strategies listed on the ASX website and in fact most savvy fund managers use derivatives, ie covered calls in their portfolio’s. I have property and shares and I make more profit writing covered calls than I do from any growth in the stock.
    I say thanks to Jamie for teaching me such a strategy whereas my financial planner with all the letters after his name could only recomend some lousy managed funds. At least Jamie charges you upfront with no ongoing fees.

    cheers,
    Dave[aacool]

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