Midniteoyl
Elite Member
- Joined
- May 20, 2013
- Messages
- 4,773
- Location
- N. W. Indiana
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- Kioti CK3510SE HST, Ford 3400, Gizmow ZTR, Simplicity 7016H
Salt, don't listen to him. The old boy ain't right.
Ya.... I actually have the bridge!
MY FAMILY PROJECT........OILWELL MONEY
- Thread starter saltbranch
- Start date
- Views: 4353
Ya.... I actually have the bridge!
OldMcDonald
Platinum Member
From time to time in the past when I took employment to raise extra cash I had to invest up to the equivalent of about $15 million US. Not always that muich, but very frequently a few million. This was taxpayers money - local councils or national government. There are many stories of people in similar positions to myself who thought it important to make as much return as possible - and lost heavily. The most recent such cases were the Icelandic banks and 20 years ago a bank by the name of BCCI. Somebody once told me that, in reality, that was its credit rating, not its name.
I have dealt in bonds, stocks and shares. As an individual you cannot hope to get a good deal, no matter how good your adviser. You need a broker who has the deals lined up before the markets open and does the buying and selling. Unless you have a great deal of money, nobody is going to do that for you. If he has to ask your permission to deal it is too late.
I totally agree with everyone who says you must be debt free and stay that way before you invest a penny outside your own business. Do you really want more land? It is a hassle if you do not work it yourself.
I do not know if you can do the same in the US, but in Australia and Scotland I had access to my employers' bank's Treasury Dept. These are the people who deal in cash. The return on short term cash almost always beats anything else. You do need a substantial amount before they will talk to you, but there is always somebody looking for large amounts of cash for only a few days. The system I used was to have the money "at call". That meant, depending on the country, either 11 a.m. or Noon deadline to bring money back or to give them more. The rate on this money is always very good (well over inflation, which is essential) but they would also contact me by telephone to see if I could let them have anything from one to several millions for one day to maybe a week, and the rate offered would be given to me during the call. These special loans are to the bank, not the person seeking the money, so it is as secure as the bank. Obviously if you have $100m you spread it over several banks for security, but assuming you have a more modest amount, talk to your bank manager and see what he has to offer. In fact, talk to several bank managers, and let them all know that you are talking to the others.
People who make a lot of money do not have time to write books telling you how to do it. Mine is called "How not to make millions.... but still enjoy a rich rural life". As someboidy else has already posted, money does not necessarily bring happiness or love, but I bet it beats being bankrupt, although fortunately I have never been, nor wealthy either!!
I have dealt in bonds, stocks and shares. As an individual you cannot hope to get a good deal, no matter how good your adviser. You need a broker who has the deals lined up before the markets open and does the buying and selling. Unless you have a great deal of money, nobody is going to do that for you. If he has to ask your permission to deal it is too late.
I totally agree with everyone who says you must be debt free and stay that way before you invest a penny outside your own business. Do you really want more land? It is a hassle if you do not work it yourself.
I do not know if you can do the same in the US, but in Australia and Scotland I had access to my employers' bank's Treasury Dept. These are the people who deal in cash. The return on short term cash almost always beats anything else. You do need a substantial amount before they will talk to you, but there is always somebody looking for large amounts of cash for only a few days. The system I used was to have the money "at call". That meant, depending on the country, either 11 a.m. or Noon deadline to bring money back or to give them more. The rate on this money is always very good (well over inflation, which is essential) but they would also contact me by telephone to see if I could let them have anything from one to several millions for one day to maybe a week, and the rate offered would be given to me during the call. These special loans are to the bank, not the person seeking the money, so it is as secure as the bank. Obviously if you have $100m you spread it over several banks for security, but assuming you have a more modest amount, talk to your bank manager and see what he has to offer. In fact, talk to several bank managers, and let them all know that you are talking to the others.
People who make a lot of money do not have time to write books telling you how to do it. Mine is called "How not to make millions.... but still enjoy a rich rural life". As someboidy else has already posted, money does not necessarily bring happiness or love, but I bet it beats being bankrupt, although fortunately I have never been, nor wealthy either!!
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