From my personal experience i can tell you that feedbacks from Members like Will, Richard, EagleOne, TRB, Graham, advamax (i hope i spell if right), Paul as a view others are very helpful included also for my personal use as it is never too late to learn.
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Thomas
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We want to know what your experience on this site has been. As we have not really had any luck unless we are looking to get cursed out or treated unjustly by rude remarks. I have been an attorney in international law for 30 years now - and although I believe that this site serves a purpose for many, the delivery of the information can be really harsh sometimes.
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Even my person received and still receive many times some rude comments or feedbacks included from Members who try to "flaming" a private virtual war against me.
But i can tell you that i also receive feedback and may some "rude" comments from Members like Will, Richard as others but only as "information" and not because they want to insult me in any way.
I repeat again. I do have good as also bad experience but i think the "Principal Subject" of this Board is to exchange Information about the Banking and Financial Industry as also to check from time to time about Posts who are warning for actually Scams or Frauds.
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Thomas
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This as a public forum in the matters people deal in here is relatively straightforward and good. I've seen others like the Bradynet go down in flames and basic scam plattform providing. So yes the experience I have is good. But I'm not posting any offers, I'm here searching for people thinking outside the box and why being here I comment on things I feel are relevant for the situation.
The problem is however from your foundation that the questions have been relatively basic without borders, just like this and this name in Australia, then when asked to post more details if wanting a serious answer you post a far off comment of why and what, which frankly is putting a different light on all this. It is matter of perspective and my remarks were probably not subtle enough but I had the feeling there was no other way to bring the point over.
So, my advise keep on posting but more detailed and never mind some remarks, its not that we are competing or putting things up to get someone in trouble, just remember its a public forum and can be googled, so the discussions are fairly public.
and sorry, did not want you to feel like getting arrested, just have fun and a successful buiness day
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Being new to this board, I have found it educational and enlighting. I have read back pages and found several posters who are helpful without the necessary sharp puns or name calling. Those who name call or try to adopt the ''what a stupid fool to be caudht up in a scam attitude'' usually have been caught themselves and feel a need to release some tension and anger towards in the main new posters. I have found richard Ludwig and Will helpful in their responses without being rude or attempting to put down people. They are matter of fact with their responses and sometimes telling it as it is hurts. But then the world you play in, i.e. the financial world is very hurtful and dangerous. Perhaps therein lies the thrill, to succeed where many others have failed.
The big draw back I found with this board is the huge amount, (for want of a better word) ''offerings'' of business. When you follow up these ''offerings'' most of the time there is nothing there, because the posters eventually find out they are dealing with something real and cannot meet the requirements to close a deal, simply because they are not as close to the deal as they state, or their demands that a genuine buyer must be passed over to them to conclude a deal. That will never happen in the real world. As has been stated many times on this board.
it is principle to principle only, or bank officer to bank officer, finally, settlement by Euroclear or DTC.
My questions are simpl?, how do these brokers survive?
It appears everyone is a mandate to a super supplier or a guaranteed buyer, how does one break the ice to make the deal happen?
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Your question on how unsuccessful brokers survive:
The answer they don't!
The development is that an ever lower number of brokers survive on their own in the business of financial brokerage in the grey markets. The reason is that the daily living cost plus the expense and time consuming concentration on the business brings a straining of the purse and after usually 3 yers the whole thing collapses as bills keep coming and no income is generated. It then takes some time to recover and after an additional 2 years they give it a try again, so you have waves.
It is a shame actually that the effort gets them nowhere, personally I have found some of the starters very smart and thinking unusual but without support it gets nowhere. Thats why we have a program supporting our associates over the first 5 years, but since our group is very much limited and there are not that many working in our fashion, we are mostly unknown to the non-institutional brokers and the institutional ones don't need us.
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Tom,
I am new to this website. I have one good experience and the rest bad. I thank to moderator for his job here. Moderator has limitations for an open forum like this one. Brokers post here offering services when they are not direct to the funder. When a person posts for services ,his email inbox is buried wth the overwhelming responses from brokers who do not have a clue about this business.
I met a principal through this trade board who received more than 100 different responses for his deal and he was confused by the wrong advises given by all those who responded.
You will see right from different postings, professional responses and nonsense. You will see a lot of warning about scams. You will see one day a broker is a seller of financial instrument and the other day he is a buyer. One day a broker is looking for lender against security because that day he has security and another day he is looking for security because he has funds. This illustrates the promlem of any trade board. There are very few professional visiting or participating in trade boards. The Internet trade boards serv for some people as the best place for mud-slindging and name calling.
Now the question is who are the visitors and participants ?
99% of the people someone will meet through Internet and trade boards are time wasters.
Kindest regards and good luck.
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The timing of your question allows me to say I find this board to be beneficial. There was a time when it was a battle ground and a there were many many offers that did not appear to be realistic. I could even go as far to say that I authored some of those unrealsitic offers. This is in part why I say today I believe this board is much more a benefit.
As I stated in my other post I am still learning. This board has in some ways been instrumental in that regard. I know that there will always be those who will simply see things in one light and no one can be all things to all people. But I noticed in Advamax's post he stated "I met a principal through this trade board who received more than 100 different responses for his deal and he was confused by the wrong advises given by all those who responded."
Now in my quest for clarity on "Bloomberg" has a possible clearing option I was attacked by certain posters who stated if I was the principal I should know better or I should have been able to speak with my bank officer etc etc etc. My point is just as it was then, no one knows all there is to know about this business. I believe it was Will and Reknab who in their own ways pointed this out.
Advamax also stated "one day a broker is a seller of financial instrument and the other day he is a buyer. One day a broker is looking for lender against security because that day he has security and another day he is looking for security because he has funds" Well I would approach this conclusion with caution as well. For the last 2 years I have been blessed to work with sellers but for three years previous to that I have had 1 buyer for whom I have not been able to locate paper for.
His procedures and or price have made it difficult. My point being you may have seen Hardcase1@aol.com or Paul Collins stating either I have or I need. I also have associates, a few of them here, who have asked me if I have or know of someone who has or who can do this or that. Its called networking. As long as I am not asked to find or offer a 40 second PPP that pays out at 600% I may consider trying to assist.
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This is what most people should be trying to achieve. the secret of successful networking is trust in the people with whom you are about to attempt to work with. This is built up between parties and not on chat boards. Open forums tend to lead to a certain amount of negativity on transaction and therefore the networking can be affected.
perhaps now that there is a professional banking forum a category for 'networking' could be added to allow people to seek other for assistance and exchange of business ideas.
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Dear Paul,
It looks like you took the bloomberg thing personal. As a financial consultant I expect my seller should be READY, WILLING, and ABLE. For a seller to be RWA he should know things like bloomberg. As a new seller , you may not know. So I advised you to contact your banker.
As for the principal I met here, he was doing his first financing of his life in this nature, Project funding against financial instrument. He was not a seller or buyer of financial instrument. Hence, it is obvious he was naive. Moreover the overwhelming responses from brokers and broker chain made things worse by confusing the principal.
The finance business is a tough field. This business requires honesty, integrity,proper contacts, knowledge, transparency. etc. The killer deal is mis representation,
dishonesty and the opposites of the previous. Most posters here have nothing but offer everything. As you stated here,
"there were many many offers that did not appear to be realistic. I could even go as far to say that I authored some of those unrealsitic offers." Unrealsitic offers will damage your crdibility. Before I offer anything to a principal I need to know the deal head to toe. I then point out the things that will be required by bank or lender or security broker.
For example, recently I have a small mining deal about €250.00 million. I asked the principal that he has to pay for a new geological report from a third party which will be accetable to the bank. Even he and his partner are professional geologist and did a servey on the mine site but it is not to the best interest of the bank and lacks the bank's standard. Moreover the principal has to spend money to get all the permits to explore the mine and retrive the said mineral. There is no free launch here. If this is done I am sure I will close the deal. I will be able to get a financial instrument and funds for this principal. Experience plays a part in this. By the way this mining project is in a third world country.
Paul, once you asked what kind of business I am in? Now you know. The core business that I do is project funding, sourcing the security and funds through third party. Especially the security through third party. Here I am always direct with the financial institution who will provide the security or funds. Absolutely no brokers in between. A professional enquiry to my email results into a professional response. But it is sad to say 99% of the people someone will meet through internet and trade boards are time wasters.
Kindest regards and good luck.
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I don't want to belabor this thread or point but there was nothing personal taken from your initial response on my clarity thread. I was only attempting on this thread to illustrate that there are instances where others may not know all there is to know and this includes some principals, owners or signatories.
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