Richard Crenian Blogs
February 25, 2009
“Of Scammers and Funds” a Blog by Richard Crenian
Great article the other day in the Toronto Star. It stated that Investors want their money back.
They gave their Investment Advisors their retirement monies and those monies went inot mutual funds, and have lost a good portion of their retirement funds (30%) and are considering suing them.
So let me think, you gave your “Investment Advisor” money with the knowledge that it was going into a mutual fund (what I call lay your bet down and hope that you will win) and now since it has gone down you want your money back.
(I feel the same way as there was a lot of pressure to put money in mutual funds and those that have, have since suffered)
The problem is that we didn’t know that the stock market was filled with scammers, promoters who were there to grab your money without any conscience. It was hard to resist in those heady days. (What, only last year?) Then you find out about the Madoffs and the Stanfords (Allen Stanford who calls himself a Texas Billionaire) who ripped off the public for $50 Billion and $8 Billion respectively.
Oh well if you want high returns there are risks, risks that the guys you are dealing with are rip off artists……
Me and Howard, we sweat the small stuff, invest in cash flow proven real estate, and enjoy the slow and steady growth. At least those investments are safe.
I phoned Howard in Tucson yesterday and told him it was snowing in Calgary, and he laughed. Said he didn’t see any snow on the ground in Tucson. Phone him and bug him please, 403 630 4533. He likes to know that he is missed!
Richard Crenian
Showing posts with label Howard Manely. Show all posts
Showing posts with label Howard Manely. Show all posts
Wednesday, February 25, 2009
Friday, January 9, 2009
"Naughty, naughty!"
Richard Crenian
January 9, 2009
“Naughty, naughty!”
From today’s Globe and Mail…….. “The bad news is that we are in a recession, and a fairly deep one at that. The good news is that the stock market has already discounted a depression,” said Jeff Rubin, CIBC World Markets chief economist and chief strategist.”
Thanks Jeff, tell us something we don’t know. Wait, Jeff are you saying that the stock market is a buy? Hmmmm……..Jeff read my blog on my New Year’s Resolution that I don’t trust the stock market anymore and that it is a gamble, and what you are saying, may be a gamble even though it may occur.
Let’s look…….Bernie Madoff? You are a bad man. You ripped off your friends, family, put their hard earned saved money in jeopardy and told everyone what a genius you were in the stock market. They believed you, and now they have lost their money and you Sir, go to jail! If you had stuck with hard assets, kicking off cash flow maybe, just maybe instead of jail, you could be golfing with Howard. But, you were too smart!
By the way even in Canada, (from the Globe again today)…………
“Biovail Corp. has agreed to pay a $5-million penalty and costs of $1.5-million to the Ontario Securities Commission after it admitted misleading investors in its financial disclosure.
Under the settlement, approved today by a panel of OSC commissioners, Biovail acknowledged that some of its financial filings in 2001, 2002 and 2003 were “inaccurate.” The Mississauga-based company also made false statements to the OSC during its investigation, the settlement says. The penalty is the largest ever imposed on a company by the OSC.”
Naughty, naughty……….
Richard Crenian
January 9, 2009
“Naughty, naughty!”
From today’s Globe and Mail…….. “The bad news is that we are in a recession, and a fairly deep one at that. The good news is that the stock market has already discounted a depression,” said Jeff Rubin, CIBC World Markets chief economist and chief strategist.”
Thanks Jeff, tell us something we don’t know. Wait, Jeff are you saying that the stock market is a buy? Hmmmm……..Jeff read my blog on my New Year’s Resolution that I don’t trust the stock market anymore and that it is a gamble, and what you are saying, may be a gamble even though it may occur.
Let’s look…….Bernie Madoff? You are a bad man. You ripped off your friends, family, put their hard earned saved money in jeopardy and told everyone what a genius you were in the stock market. They believed you, and now they have lost their money and you Sir, go to jail! If you had stuck with hard assets, kicking off cash flow maybe, just maybe instead of jail, you could be golfing with Howard. But, you were too smart!
By the way even in Canada, (from the Globe again today)…………
“Biovail Corp. has agreed to pay a $5-million penalty and costs of $1.5-million to the Ontario Securities Commission after it admitted misleading investors in its financial disclosure.
Under the settlement, approved today by a panel of OSC commissioners, Biovail acknowledged that some of its financial filings in 2001, 2002 and 2003 were “inaccurate.” The Mississauga-based company also made false statements to the OSC during its investigation, the settlement says. The penalty is the largest ever imposed on a company by the OSC.”
Naughty, naughty……….
Richard Crenian
Monday, December 29, 2008
"Who are You?"
Richard Crenian Blogs
December 29, 2008
“Who Are You?”
When I read the Globe and Mail, there was a story about a Canadian we shall call Peter Puck, who now lives in California. Peter has been going through some tough times of late. He is in his 60’s, and was the former owner of the Edmonton Oilers and Gainers Meat Packing Plant.
He was apparently hated in Edmonton for selling Wayne Gretzky (99) off to the L.A.Kings and how he thumbed his nose at the blue collared folk in Edmonton. (It was just business I remembered him saying…)
He was idolized as a symbol for the Canadian Entrepreneur and no one in Western Canada in Peter’s time had not known about him. Peter was in everything including real estate and I remember that he was selling off a development in Hawaii, and was even trying to sell shares in the Edmonton hockey team along with his other interests in Teams that he owned or co-owned. He was a very exciting guy to watch and learn from, but unfortunately didn’t know when to quit or my guess is gambled once too often.
All entrepreneurs gamble and some win, and some not so lucky. When you gamble in your 20’s, 30’s up to say even your 50’s, it is ok because you have time on your side and even if you blow it, you may have a chance of coming back in your sixties.
What happens if you are in your 60’s and you blow it? You risk everything.
Who would in their right mind invest in the stock market today on a go forward basis?
We know it is for gamblers and are you going to gamble your hard earned savings?
If Peter Puck would have followed Howard’s footsteps and invested in cash flowing quality assets maybe he might not be in the pickle he is in today. Ask Howard what he can do for you, and if Peter had done so, he would be hanging out in Tucson, golfing with Howard. Howard can be reached at 403-630-4544.
Richard Crenian
December 29, 2008
“Who Are You?”
When I read the Globe and Mail, there was a story about a Canadian we shall call Peter Puck, who now lives in California. Peter has been going through some tough times of late. He is in his 60’s, and was the former owner of the Edmonton Oilers and Gainers Meat Packing Plant.
He was apparently hated in Edmonton for selling Wayne Gretzky (99) off to the L.A.Kings and how he thumbed his nose at the blue collared folk in Edmonton. (It was just business I remembered him saying…)
He was idolized as a symbol for the Canadian Entrepreneur and no one in Western Canada in Peter’s time had not known about him. Peter was in everything including real estate and I remember that he was selling off a development in Hawaii, and was even trying to sell shares in the Edmonton hockey team along with his other interests in Teams that he owned or co-owned. He was a very exciting guy to watch and learn from, but unfortunately didn’t know when to quit or my guess is gambled once too often.
All entrepreneurs gamble and some win, and some not so lucky. When you gamble in your 20’s, 30’s up to say even your 50’s, it is ok because you have time on your side and even if you blow it, you may have a chance of coming back in your sixties.
What happens if you are in your 60’s and you blow it? You risk everything.
Who would in their right mind invest in the stock market today on a go forward basis?
We know it is for gamblers and are you going to gamble your hard earned savings?
If Peter Puck would have followed Howard’s footsteps and invested in cash flowing quality assets maybe he might not be in the pickle he is in today. Ask Howard what he can do for you, and if Peter had done so, he would be hanging out in Tucson, golfing with Howard. Howard can be reached at 403-630-4544.
Richard Crenian
Thursday, December 25, 2008
"Merry Christmas!!"
Richard Crenian Blogs
December 25, 2008
“Merry Christmas!”
No rest for the wicked so here I am blogging. I would like to thank my faithful readers and to wish them all a very Merry Christmas and of course a Happy New Year.
I hope that 2009 brings you all the well wishes and joy that you deserve and of course good health, because without your health you don’t have a quality of life.
So often people tie into their lives with what they do and who they are. They forget that as they age and their bodies slow (Like mine) what the real important thing is to care and to have your family care for you. You didn’t work all these years for yourself, no you did it for your family.
Your legacy is not in what you do but what you leave behind with your children, grandchildren and the like. Of course if you can you want to take care of them and with luck and the right cash flow quality investments you have.
Like my dear partner Howard who enjoys his life. I always tell Howard that when I grow up (if I ever do) I want to be just like him! Call him and wish Howard a Merry Christmas-403 630 4544- and tell him to have a super day!!
Richard Crenian
December 25, 2008
“Merry Christmas!”
No rest for the wicked so here I am blogging. I would like to thank my faithful readers and to wish them all a very Merry Christmas and of course a Happy New Year.
I hope that 2009 brings you all the well wishes and joy that you deserve and of course good health, because without your health you don’t have a quality of life.
So often people tie into their lives with what they do and who they are. They forget that as they age and their bodies slow (Like mine) what the real important thing is to care and to have your family care for you. You didn’t work all these years for yourself, no you did it for your family.
Your legacy is not in what you do but what you leave behind with your children, grandchildren and the like. Of course if you can you want to take care of them and with luck and the right cash flow quality investments you have.
Like my dear partner Howard who enjoys his life. I always tell Howard that when I grow up (if I ever do) I want to be just like him! Call him and wish Howard a Merry Christmas-403 630 4544- and tell him to have a super day!!
Richard Crenian
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