Eddie Hobbs new Brendan Investments vehicle

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Harchibald

I see you're still on your stool and joined by a few Garradimna Junior B team supporters, looking for after hours.

Thing is the proprietor seems to have gone for walk. He's left his dogs behind cos' you can hear them barking in the yard.

Time methinks for you to drink up and hack your way home.

Kaplan
 
F. Kruger said:
Could someone just kill this thread?
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Please do NOT close this thread. Simply because there are (newly-arrived) forces here that have been trying to sabotage it and whose objective, I suspect, is to drag it down to a level where the mods have no alternative but to close it. Perhaps a move to LOS might be more in order, if some drastic action is unavoidable

Originally Posted by Mantus View Post
Gonk, the Sunday Times speculation is wrong. Riddler's last post was 11.02 pm Friday sept 7th at which point Hobbs was on the Late late Show.
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Do bear in mind that the times recorded for AAM posts are sometimes an hour wrong, ie a post made at 1pm can show up as 12 noon.
 
Billy me boy, still don't understand a word of that.
 
F. Kruger said:
Could someone just kill this thread?
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Just to clarify.

Clearly, emotion has overtaken reason and logic as the last couple of pages of this thread would suggest. You need a balance and some sort of compromise from both camps to resolve an issue. It would appear that this is not going to happen here.

Tempers are raised and both sides are upset. It aint healthy and it is certainly not entertaining.

Let It Go!!!!!!!!!! (and enjoy your weekend)
 
ubiquitous said:
Do bear in mind that the times recorded for AAM posts are sometimes an hour wrong, ie a post made at 1pm can show up as 12 noon.
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As far as I know that should only happen if you have not configured your personal User CP (Control Panel) time settings correctly to account for daylight saving.
 
ubiquitous said:
That's odd My User CP setting for this appears to be "automatically detect DST changes"
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And is the timezone set to GMT? Not sure if it matters but are your local PC time, timezone and DST settings correct? My vBulletin User CP settings are GMT and Automatically detect DST settings and the time always appears correctly on posts.
 

Yes, "the dinosaurs are eating each other", whether that is entertaining or not is subjective.

As a genuine ordinary investor with no vested interest in either side of this ill tempered debate, I would like to offer a balanced summary of the two sides. I am completely unqualified to offer financial advice, but my freedom of speech is regulated by the constitution.

BI claim they have a mould-breaking product, offering timely access to the european property market to the great unwashed at a reasonable cost. Vested interests are attempting to sabotage this new source of competition for funds.

Skeptics argue that BI encourage personal borrowing to invest in an already leveraged product, with high and uncertain costs, high levels of risk, with vague promises of excessive returns. Liquidity will only be available (for ten years) in a grey market which may never materialise. Excellent liquidity is available through exchange traded funds and publicly quoted companies at lower or similar costs and similar or better risk/reward profile.

Does BI have a better risk/reward than a rental apartment in bulgaria? Almost certainly, yes.

Would I personally invest in BI? No.
 
Maybe those who are not interested in the thread should just ignore it it rather than looking for it to be closed? That's what I do most of the time since it's not high on my priority list of subjects to read about. As ever, if people have problems with specific posts then use the Report Post option to alert the moderators.
 
i asked around and as far as i know the name refers to st. brendan the navigator who founded newfoundland i think it was. that mad me have a look at the website and in particular i found the press section very interesting. one of the directors has answered a lot of the challenges that have been put forward, so its worth a look.
 
Bungaloid thankfully it was nice to see some independent commentary rather than the sniping that has gone before.

The only bit of advise I give to people in these circumstances is to read the prospectus in detail - it is quite an informative document. Know what you are investing in and ask and take advise from people you trust. To me there seems to be far too much lobbying going on from both sides in this one to get any sort of informed opinion on the product

Personally I have invested in residential property in France but will not make this mistake again. The hassle factor and paper work is far too great regardless of the return. I have invested in other geared syndicated products and they have worked out well and looking at the fees in this case they seem reasonable particularly as there are no upfront fees and therefore all of your investment gets invested from day one.

Anyhow thats my bit for now - I'll be back to see if the lobbyist are back later - however just for a bit of entertainment though!!
 
alser2 said:
one of the directors has answered a lot of the challenges that have been put forward, so its worth a look.
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Have you read the rest of this thread to see other challenges and rebuttals? What do you think of them?
 
to be honest i think people should read the prospectus and the supplementary one as i have been on the website, with every investment there are pros and cons and people go for different types of investment. i dont think these brendan guys claim to have found 'an investment for all' solution, but it appears to be promising for those who go for a long term investment. like a yearly budget it wont be for everyone.
 
You mean you haven't read this thread from start to finish and don't think it's worth reading what others have to say about it? Surely the more information (especially skeptical observations and rebuttals) the better when evaluating such an investment? Who suggested that this was an "investment for all"? Why exactly do you find it "promising"?
 
I have been digging around my inbox and found the latest offerings to the German market - some interesting comparisons for fees


Merrion Raglan - 2nd syndicate managed on a part time basis
German Commercial fund

Entry fees 3%
Annual management fee 1% Gross asset value (these were trying to leverage at 85%) - this covers simply commercial property management - no development
Performance bonus - 20% of the profit in excess of 8% IRR
Professional set up fees charged but not disclosed
Acquisistion fees for German property up to 10%
€60k entry point


CMC - 6th syndicate management on a part time basis

Entry Fee 3%
Annual Management Fee 1% of the Gross asset value of the company (leveraged at 80%) - this covers commercial property management - no development
Performance bonus - 20% of the profit in excess of 12% simple interest - (this is a clever way of saying 8% IRR as per merrion above over the same time period)
Professional set up costs charged - not disclosed
Acquistion fees of up to 7%
€50k entry point
(all seems reasonable)

Augusta Syndicate - 7th syndicate managed on a part time basis

Entry fee 3%
Annual management fee .75% + property management fee of .15% - this comes to 0.9% of the gross asset value of the fund - this covers commercial property management only
Split of agent fees 1% of the Gross asset value of the fund
Professional set up costs .75% of the gross asset value of the company
Acquisition fees 8%
Performance bonus - 15% of the profits in excess of 12.5%

Brendan Investments - PLC structure with full time directors

Entry fee 0%
Annual management fee 1% of the Gross asset value of the company - to include both commercial property management and property development
Performance bonus 20% of the profits in excess of 8% IRR
Professional set up fees up to a max of €750,000 for a €50m fund raising (ie 1,5% of the equity)
All transaction done at cost

These are the facts that are out there and from a fee structure the two best options seem to be CMC and Brendan Investments. The others particularly there transaction costs are too high and while the performance bonus is low for Augusta - the directors seem to be taking out so much money up front I suggest that they are only interested in investing money and taking fees than delivering returns and taking a bonus.
 
i have had a browse through the arguments and yes i agree it is worth reading them. the thing is some people accuse each other of not researching fully or limiting their research to this thread. i went to one of the roadshows in cork a few weeks ago and i heard eddie and the other directors present the company. this prompted me to have a browse at the website and here. incidentally i wonder if many on this thread went to a roadshow?
i use the word promising as the majority of the funds are going to germany and the level of investment is still on an upward trend. ireland the uk and portugal have peforming economies also, albeit for a minority of the investment.
i say investment for all in that at the roadshow eddie himself said that the gearing aspect is not for the fainthearted so of course people will naysay this fund and they are entitled to.
 
medici said:
I have invested in other geared syndicated products and they have worked out well and looking at the fees in this case they seem reasonable particularly as there are no upfront fees and therefore all of your investment gets invested from day one.
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Apart from the legal, advertising, structuring costs etc that have to be paid of course which represent 1.5% if they raise €50m and more if they raise less. They don't call it an upfront fee but if it looks like duck, sounds like a duck and walks like a duck, then it is probably a duck! Not saying it is a bad deal and the no up-front commission is one of the more attractive parts of this deal but they can't deny the up-front 'cost' is there.
 
Medici,

Thanks for the comparison. Useful guide Would just say though that BI seems to employ much more leverage than the other deals so they are going to make alot more money on a 1% management fee on the gross asset value of the fund that is 300% leveraged than another fund that is only 80% leveraged. Nothing wrong with that per se but the importance of the leverage in this deal is sometimes being overlooked.
 
Medici and alser2 - this thread has been dogged by individuals who have posted opinions, purporting to be nothing more than interested bystanders but in fact have vested interests. Such sad and childish practices devalue the whole thread really.

So please forgive me for asking - have you any connection to Brendan Investments?
 
Yeah - at this stage any newly registered contributors posting purely positive spins on BI are surely going to be suspected of having some vested interest or association with the company/product give what has gone before. This abuse of Askaboutmoney rather than boredom on the part of some readers might be a good argument for closing such a thread!
 
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