This is the next dick smith waiting to happen. Gullible investors lining up to buy into McGrath real estate. This is a classic pump and dump scam if I ever saw one and on the eve of a property correction if I might add. Are aussies really that fickle to buy into this garbage  :(

https://www.youtube.com/watch?v=CVxsfvkMOCA


Quote:

The Business roasts McGrath turkey Message to self: when a real estate agent with insider knowledge is trying to sell his stake in the market, DO NOT BUY. ABC’s The Business ran a great little segment last night on the McGrath Limited’s turkey float, whose share price has fallen by around one-third since listing at $2.10 some three months ago: Roger Montgomery, who was interviewed in the segment, values McGrath Limited at around $1, roughly half the float price:     Michael Janda [ABC]: “A looming apartment glut, combined with a 50% price surge in McGrath’s key Sydney market makes for a volatile mix”…     Roger Montgomery: “Wherever there has been an oversupply, prices have subsequently fallen. And agents are in the firing line when property prices go down. And we think we are in line for a correction in property prices”. A Western Sydney real agent, Edwin Almeida, also notes that a property correction is already happening around Parramatta:     Michael Janda [ABC]: “Out in the burbs. Edwin Almeida says forecasts of a property bust are already becoming a reality in his patch around Parramatta in Western Sydney”.     Edwin Almeida: “We’ve identified some areas where properties have actually already gone backwards by anywhere between 8% and 15%. Asking prices have been dramatically pulled-back in some parts of Sydney by up to 20%”…

Modern style of business robbery - over-capitalise from a gullible public or bank(s), reap the benefits massively in director's and finder's fees etc into private companies ostensibly totally separate from your legal entity self, 'borrow' the money on a secured basis from yourself (your private company) for your business - when it collapses, you are the first one 'paid out' on a secured basis after already reaping massive fees etc, while the rest can go hang, and sometimes do.

I'm amazed nobody's on to it yet.

Some people are too stupid to have money, better to give it over to someone smarter I reckon.  :)

innocentbystander. wrote on Mar 14^th, 2016 at 10:45am:

Some people are too stupid to have money, better to give it over to someone smarter I reckon.  :)

Its a good thing you have none.