Lord Sugar's views on fund managers and property investment

almondsalty

Quite amusing, but at the same time interesting. Apparently in his latest book he has revealed why he doesn't like fund manager or stockbrokers and basically thinks they are just leeches and aren't successful themselves ( investoo.co.uk ) :

For this experience, he claims from that day onwards he has“taken no notice whatsoever in any of these so called experts in the stock market or fund managers who want to look after my money. If these bloody people know so much why haven’t they got yachts and private planes themselves? Why do they need to it for other people?”(p. 336).

This view following getting burned by a Nomura agent in 1980's, and that's why he invested so much in property which paid off for him.

Although I wonder if he would still invest in property so much today?

dunstonh

For this experience, he claims from that day onwards he has“taken no notice whatsoever in any of these so called experts in the stock market or fund managers who want to look after my money. If these bloody people know so much why haven’t they got yachts and private planes themselves? Why do they need to it for other people?”(p. 336).

Possibly as fund managers tend to be earning hundreds of thousands or millions even every year. Why give that up?

This view following getting burned by a Nomura agent in 1980's, and that's why he invested so much in property which paid off for him.

So, he got lucky with timing during a credit boom.

Reaper

It's a constant mystery why people take any notice of what Alan Sugar thinks. He is not very good at running a business.

Sure Amstrad did very well for a while on the back of 2 or 3 good products reaching a value of £1.2 billion but then, with Alan Sugar still at the wheel, he drove it off the road with daft ideas (remember the email phone which he kept pushing long after he should have given up?) until it was sold for just £125m.

His ownership of Tottenham was seen as failure even by him, describing it as "a waste of my life".

In 2005 he predicted that the iPod would be "dead, finished, gone, kaput" by the following Christmas.

I have no idea how his current ventures are going, but I won't be investing in anything he is running.

edinburgher

remember the email phone which he kept pushing long after he should have given up?

Were those the ancient-looking phones used in early series of The Apprentice?

Lokolo

edinburgher wrote: »

Were those the ancient-looking phones used in early series of The Apprentice?

TBH I was most upset that Francis, the hot sounding receptionist, had left this season.

I just love it when Alan says "Oh it's easy to have a good successful business, just look at what I did". I just think "shut up you old fool".

edinburgher

One of these

talexuser

Always remember he started business selling the direst audio crap with speakers made out of shoeboxes with a vaned grill where tweeters should be, only there was no tweeter fitted underneath!! and put dolby license logos on his cassette decks when there was no dolby circuit inside, the switch changed one capacitor for a high pass filter!! Today trading standards would be putting him in court.

And some (maybe his PR firm?) try to portray him as if he is some kind of British Donald Trump!!!! :eek:

kidmugsy

How low his aspirations must be if he wishes to be mistaken for Donald Trump.

almondsalty

Didn't remember he said about the iPod being dead, just read about that now. Pretty amusing from what should be a consumer electronics expert!

StevieJ

almondsalty wrote: »

For this experience, he claims from that day onwards he has“taken no notice whatsoever in any of these so called experts in the stock market or fund managers who want to look after my money. If these bloody people know so much why haven’t they got yachts and private planes themselves? Why do they need to it for other people?”(p. 336).

With the money they earn probably have got these things

almondsalty

StevieJ wrote: »

With the money they earn probably have got these things

Some have definitely, but not all. And one thing for sure is most don't have his £800m fortune! Although some do, probably more so in the US than UK tho.