In 2007 there was huge interest in this European investment company (Brendan Investments) of which Eddie Hobbs was part of. I was just nervously (for them) wondering how Mr Hobbs venture is going, does anyone know? The link below shows the interest there was ..
last I heard is that its in a bad way now and not as many people joined up as they wanted
This was a disaster for everyone concerned. Rumour has it Hobbs has imposed a ban on himself for tv etc due to disastrous returns on a lot of his own investments. Maybe explains why we aint heard from him in months. I cant remember the last tv programme i seen him on
Soooooooooo is he now preaching about elections instead of investments?? honest question, i dont listen to newstalk
Brendan posts €380,000 profit
Brendan Investments Property Management, a company associated with property fund manager Brendan Investments, generated a €380,000 profit last year, according to accounts filed at the Companies Office.
The unaudited accounts for the company, whose directors include TV personality and investment adviser Eddie Hobbs, show it had €122,143 in shareholders’ funds at the end of August 2010, down from €502,533 a year previously.
The other directors are Vincent Regan, Hugh O’Neill and Dermot Flanagan. Brendan Investments was established in 2007 to make property investments in Germany, Britain, Portugal and Ireland.
Did they ever get around to investing client monies? They raised the money close to what turned out to be the top of the market, so last I heard (which was years ago) they had decided not to invest.
If it was relaunched it could be successful, there are good opportunities now.
hes always on newstalk talking bout money
The company may have made profit from management fees etc but the tits up part was the unfortunates who invested. Thats where I'm coming from
Brendan Invts Plc is different to Brendan Invts Property Management (BIPM) which is the management company for the Plc. The latter raised €13m and was the very last property fund to do so. The Plc geared the equity 25% / 75% and purchased €50m worth of German property over the following two years 2008 and 2009 at a quiet time in the German market.
The investment should be very well positioned getting prime property yields at lower prices and locking into historically low long term fixed rates on debt. Chances are Brendan Invts will wipe the floor compared to most other geared property funds most of which are either bust ie -100% already or at least -50%, the only exceptions being those that invested in non-bubble markets like France, Holland and Germany.
Presume Hobbs is pretty well positioned to make good returns. BIPM itself, based on those accounts looks to be trading away with other deals successfully. That the media isn't all over Brendan Invts with criticism is telling in my view and its performance likely to prove quite embarrassing to its detractors including Shane Ross and Burgess who lost a packet on Irish bank shares.
If you check out Hobbs website and look at the funds he picked in 2009 ( which he should update) he read the cycle well. From memory Hobbs also called the bottom of the stock market within a few weeks of it hitting its trough in March 2009. Having read his book on energy most of his expectations have come about on energy stocks and funds and he's been accurate on inflation at a time when deflationists were dominating the airwaves everywhere.
He's not everyone's cup of tea especially his views on the public sector which may explain his absence from RTE radio but he's a regular on Newstalk and Today FM.
Shock Horror, a long only investment company does not return profit during the biggest economic downturn of a generation! You expected a positive return?
Think it through. The plc was in cash just as the storm hit so slow and careful due diligence on assets over the following two years meant it became a beneficiary and not a victim, defying the trend. Those already committed lost heavily except in non bubble markets. Chances are that Brendan Invts has done well for shareholders imho
The accounts for 2010 record a 3.5m hit from cash reserves reducing them to 1m after the fall of Arcandor one of Germany's biggest companies in 2009. It is all a bit dated tho. Arcandor sought Govt assistance and employed 50,000 and owned Thomas Cook. The building seems to be at Dusseldorf airport and there is a claim for €15m against Arcandor. The coverage says that since 2010 the building has been fully rented presumably due to its location and demand from German exporters and the company has finished a German development. The hit is equal to a quarter of the equity raised but with another five years or so to go, it has possibilities.
Eddie Hobbs left past year. Now it seems the company is to be wound up in 2017 / 2018 with potential return of 50 cent on the Euro? Has anyone else heard similar updates?
Eddie Hobbs property firm plunges into red after €2m loss ...
Jul 11, 2015 - The property investment firm established by celebrity consumer advocate ... The Cork-based Brendan Investment Pan European Property ...