From Dreams to Debt

[pizzaman]

I know this has been visited before in this forum but this seems like a worthwhile update on the questionable mortgage activities that were going on in Murrieta/Temecula.
http://www.pe.com/reports/2007/wealth/

[kev374]

blah blah, it’s the fingerpointing game again.

These investors were greedy beyond belief and they took the risks and got burned. Nobody can feel sorry for them. They made their own bed to lie in.

It’s absolutely PATHETIC that they now blame everyone else but themselves, cry crocodile tears and expect sympathy while just a year or two ago they were bragging about their hugely “profitable” ventures.

The concept of responsibility for one’s actions is totally foreign to most of the population these days… they played the game and lost, they should accept the consequences, learn some valuable lessons and move on.

[kev374]

blah blah, it’s the fingerpointing game again.

These investors were greedy beyond belief and they took the risks and got burned. Nobody can feel sorry for them. They made their own bed to lie in.

It’s absolutely PATHETIC that they now blame everyone else but themselves, cry crocodile tears and expect sympathy while just a year or two ago they were bragging about their hugely “profitable” ventures.

The concept of responsibility for one’s actions is totally foreign to most of the population these days… they played the game and lost, they should accept the consequences, learn some valuable lessons and move on.

[kev374]

blah blah, it’s the fingerpointing game again.

These investors were greedy beyond belief and they took the risks and got burned. Nobody can feel sorry for them. They made their own bed to lie in.

It’s absolutely PATHETIC that they now blame everyone else but themselves, cry crocodile tears and expect sympathy while just a year or two ago they were bragging about their hugely “profitable” ventures.

The concept of responsibility for one’s actions is totally foreign to most of the population these days… they played the game and lost, they should accept the consequences, learn some valuable lessons and move on.

[kev374]

blah blah, it’s the fingerpointing game again.

These investors were greedy beyond belief and they took the risks and got burned. Nobody can feel sorry for them. They made their own bed to lie in.

It’s absolutely PATHETIC that they now blame everyone else but themselves, cry crocodile tears and expect sympathy while just a year or two ago they were bragging about their hugely “profitable” ventures.

The concept of responsibility for one’s actions is totally foreign to most of the population these days… they played the game and lost, they should accept the consequences, learn some valuable lessons and move on.

[kev374]

blah blah, it’s the fingerpointing game again.

These investors were greedy beyond belief and they took the risks and got burned. Nobody can feel sorry for them. They made their own bed to lie in.

It’s absolutely PATHETIC that they now blame everyone else but themselves, cry crocodile tears and expect sympathy while just a year or two ago they were bragging about their hugely “profitable” ventures.

The concept of responsibility for one’s actions is totally foreign to most of the population these days… they played the game and lost, they should accept the consequences, learn some valuable lessons and move on.

[temeculaguy]

Pizza, say it isn’t so, don’t tell me they got you too. We usually get enough spam for coreclient and I’m so tired of this “I don’t want to lay in the bed I made” attutude. Can I lay out all the bad stock picks I made over the years despite a broker telling me there was no way to lose, will they write article about my fantastic ETOYS investment. It made sense, the internet was the future, people with kids hate shopping, it’s easier to buy presents after the little ones go to sleep, I only forgot that a P/E of 100 violated fundamentals. How about doubling down with an 11 against a dealer face card, the book says to, everyone at the table said I should, WTF a four? How could I lose?

The point is that you should only invest or gamble with what you can afford to lose. It was an expensive lesson but if someone approaches you and tells you that you can make tons of money with very little effort, education or sophistication in that endeavor, please ask yourself “If this was possible, why aren’t people that are smarter, more experienced and richer than I doing it?” If someone approached me with a new way to make millions in the pizza industry with no effort or experience other than I know I like pizza, I would have to wonder why pizzaman isn’t doing this, he has years of experience in this field, he know’s what he is doing, if it were a sure thing he’d already be in the middle of it. Shouldn’t I start with working in a pizza place, maybe taking a stab at managing one. Then opening a single place and seeing how it goes. Screw it, I’ll buy seven pizza places, sit at home and watch the money roll in, yeah that’s the ticket.

The same theme is in every one of these and other stories of “investors” who lost it all. It was not their vocation, they had little or no experience or education in R/E investing other than owning their primary residence and they went big, too big. In any other scenario (gambling, stocks, opening a business), that same behavior would be called stupid.

[temeculaguy]

Pizza, say it isn’t so, don’t tell me they got you too. We usually get enough spam for coreclient and I’m so tired of this “I don’t want to lay in the bed I made” attutude. Can I lay out all the bad stock picks I made over the years despite a broker telling me there was no way to lose, will they write article about my fantastic ETOYS investment. It made sense, the internet was the future, people with kids hate shopping, it’s easier to buy presents after the little ones go to sleep, I only forgot that a P/E of 100 violated fundamentals. How about doubling down with an 11 against a dealer face card, the book says to, everyone at the table said I should, WTF a four? How could I lose?

The point is that you should only invest or gamble with what you can afford to lose. It was an expensive lesson but if someone approaches you and tells you that you can make tons of money with very little effort, education or sophistication in that endeavor, please ask yourself “If this was possible, why aren’t people that are smarter, more experienced and richer than I doing it?” If someone approached me with a new way to make millions in the pizza industry with no effort or experience other than I know I like pizza, I would have to wonder why pizzaman isn’t doing this, he has years of experience in this field, he know’s what he is doing, if it were a sure thing he’d already be in the middle of it. Shouldn’t I start with working in a pizza place, maybe taking a stab at managing one. Then opening a single place and seeing how it goes. Screw it, I’ll buy seven pizza places, sit at home and watch the money roll in, yeah that’s the ticket.

The same theme is in every one of these and other stories of “investors” who lost it all. It was not their vocation, they had little or no experience or education in R/E investing other than owning their primary residence and they went big, too big. In any other scenario (gambling, stocks, opening a business), that same behavior would be called stupid.

[temeculaguy]

Pizza, say it isn’t so, don’t tell me they got you too. We usually get enough spam for coreclient and I’m so tired of this “I don’t want to lay in the bed I made” attutude. Can I lay out all the bad stock picks I made over the years despite a broker telling me there was no way to lose, will they write article about my fantastic ETOYS investment. It made sense, the internet was the future, people with kids hate shopping, it’s easier to buy presents after the little ones go to sleep, I only forgot that a P/E of 100 violated fundamentals. How about doubling down with an 11 against a dealer face card, the book says to, everyone at the table said I should, WTF a four? How could I lose?

The point is that you should only invest or gamble with what you can afford to lose. It was an expensive lesson but if someone approaches you and tells you that you can make tons of money with very little effort, education or sophistication in that endeavor, please ask yourself “If this was possible, why aren’t people that are smarter, more experienced and richer than I doing it?” If someone approached me with a new way to make millions in the pizza industry with no effort or experience other than I know I like pizza, I would have to wonder why pizzaman isn’t doing this, he has years of experience in this field, he know’s what he is doing, if it were a sure thing he’d already be in the middle of it. Shouldn’t I start with working in a pizza place, maybe taking a stab at managing one. Then opening a single place and seeing how it goes. Screw it, I’ll buy seven pizza places, sit at home and watch the money roll in, yeah that’s the ticket.

The same theme is in every one of these and other stories of “investors” who lost it all. It was not their vocation, they had little or no experience or education in R/E investing other than owning their primary residence and they went big, too big. In any other scenario (gambling, stocks, opening a business), that same behavior would be called stupid.

[temeculaguy]

Pizza, say it isn’t so, don’t tell me they got you too. We usually get enough spam for coreclient and I’m so tired of this “I don’t want to lay in the bed I made” attutude. Can I lay out all the bad stock picks I made over the years despite a broker telling me there was no way to lose, will they write article about my fantastic ETOYS investment. It made sense, the internet was the future, people with kids hate shopping, it’s easier to buy presents after the little ones go to sleep, I only forgot that a P/E of 100 violated fundamentals. How about doubling down with an 11 against a dealer face card, the book says to, everyone at the table said I should, WTF a four? How could I lose?

The point is that you should only invest or gamble with what you can afford to lose. It was an expensive lesson but if someone approaches you and tells you that you can make tons of money with very little effort, education or sophistication in that endeavor, please ask yourself “If this was possible, why aren’t people that are smarter, more experienced and richer than I doing it?” If someone approached me with a new way to make millions in the pizza industry with no effort or experience other than I know I like pizza, I would have to wonder why pizzaman isn’t doing this, he has years of experience in this field, he know’s what he is doing, if it were a sure thing he’d already be in the middle of it. Shouldn’t I start with working in a pizza place, maybe taking a stab at managing one. Then opening a single place and seeing how it goes. Screw it, I’ll buy seven pizza places, sit at home and watch the money roll in, yeah that’s the ticket.

The same theme is in every one of these and other stories of “investors” who lost it all. It was not their vocation, they had little or no experience or education in R/E investing other than owning their primary residence and they went big, too big. In any other scenario (gambling, stocks, opening a business), that same behavior would be called stupid.

[temeculaguy]

Pizza, say it isn’t so, don’t tell me they got you too. We usually get enough spam for coreclient and I’m so tired of this “I don’t want to lay in the bed I made” attutude. Can I lay out all the bad stock picks I made over the years despite a broker telling me there was no way to lose, will they write article about my fantastic ETOYS investment. It made sense, the internet was the future, people with kids hate shopping, it’s easier to buy presents after the little ones go to sleep, I only forgot that a P/E of 100 violated fundamentals. How about doubling down with an 11 against a dealer face card, the book says to, everyone at the table said I should, WTF a four? How could I lose?

The point is that you should only invest or gamble with what you can afford to lose. It was an expensive lesson but if someone approaches you and tells you that you can make tons of money with very little effort, education or sophistication in that endeavor, please ask yourself “If this was possible, why aren’t people that are smarter, more experienced and richer than I doing it?” If someone approached me with a new way to make millions in the pizza industry with no effort or experience other than I know I like pizza, I would have to wonder why pizzaman isn’t doing this, he has years of experience in this field, he know’s what he is doing, if it were a sure thing he’d already be in the middle of it. Shouldn’t I start with working in a pizza place, maybe taking a stab at managing one. Then opening a single place and seeing how it goes. Screw it, I’ll buy seven pizza places, sit at home and watch the money roll in, yeah that’s the ticket.

The same theme is in every one of these and other stories of “investors” who lost it all. It was not their vocation, they had little or no experience or education in R/E investing other than owning their primary residence and they went big, too big. In any other scenario (gambling, stocks, opening a business), that same behavior would be called stupid.

[pizzaman]

Pizza, say it isn’t so, don’t tell me they got you too.

Hey TG don’t shoot the messenger. I just thought the article was an interesting update to the story. Believe me I have zero sympathy for these people. It seems like such a simple concept “ If it sounds to good to be true….”. Many of the homes involved were right in my neighborhood and I can remember thinking how completely insane the prices were. I’ve always been a numbers kind of guy and when things don’t add up it makes me nuts. Now I understand and it makes me feel better. Just wish I would have sold to one of the “investors”.

And for the record after 22 years in the Pizza business I only own 3.

[pizzaman]

Pizza, say it isn’t so, don’t tell me they got you too.

Hey TG don’t shoot the messenger. I just thought the article was an interesting update to the story. Believe me I have zero sympathy for these people. It seems like such a simple concept “ If it sounds to good to be true….”. Many of the homes involved were right in my neighborhood and I can remember thinking how completely insane the prices were. I’ve always been a numbers kind of guy and when things don’t add up it makes me nuts. Now I understand and it makes me feel better. Just wish I would have sold to one of the “investors”.

And for the record after 22 years in the Pizza business I only own 3.

[pizzaman]

Pizza, say it isn’t so, don’t tell me they got you too.

Hey TG don’t shoot the messenger. I just thought the article was an interesting update to the story. Believe me I have zero sympathy for these people. It seems like such a simple concept “ If it sounds to good to be true….”. Many of the homes involved were right in my neighborhood and I can remember thinking how completely insane the prices were. I’ve always been a numbers kind of guy and when things don’t add up it makes me nuts. Now I understand and it makes me feel better. Just wish I would have sold to one of the “investors”.

And for the record after 22 years in the Pizza business I only own 3.

[pizzaman]

Pizza, say it isn’t so, don’t tell me they got you too.

Hey TG don’t shoot the messenger. I just thought the article was an interesting update to the story. Believe me I have zero sympathy for these people. It seems like such a simple concept “ If it sounds to good to be true….”. Many of the homes involved were right in my neighborhood and I can remember thinking how completely insane the prices were. I’ve always been a numbers kind of guy and when things don’t add up it makes me nuts. Now I understand and it makes me feel better. Just wish I would have sold to one of the “investors”.

And for the record after 22 years in the Pizza business I only own 3.

[Author]

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