Is it worth listening to Karl Deeter?

Slideshowbob

Wasn't he a mortgage broker during the celtic tiger and isn't he still acting as one?

Would all his advice over the years have turned out to be accurate? I wonder of any of his clients now in negitive equity?

Would a debt forgiveness scheme he mentioned create more work for guys like him?

On that basis is he best placed to be giving mid-Atlantic soundbytes to Prime Time etc?

Mr.Micro

Slideshowbob wrote: »

Wasn't he a mortgage broker during the celtic tiger and isn't he still acting as one?

Would all his advice over the years have turned out to be accurate? I wonder of any of his clients now in negitive equity?

Would a debt forgiveness scheme he mentioned create more work for guys like him?

On that basis is he best placed to be giving mid-Atlantic soundbytes to Prime Time etc?

He is there to serve himself and his fellow brokers. He advocates debt forgiveness so that the market will not be destroyed completely and a glut of properties flood the market killing off any property recovery for years to come. So his pleas are not altruistic.

later12

Not altruistic?

Has it ever occured to anyone that businessmen are not supposed to be altruistic? Jesus Christ the people who are going to get us out of this mess - wealth creators and investors - never have intentions that are selfless and charitable.

Rather, they tend to take into account, quite naturally, how fiscal policy could best support their business interests, therefore generating national wealth to the general benefit of us all, particularly if that wealth is sustainable.
They are the leaders of their industry, whose business it is to raise profit. Profit, by the way, is not a dirty word. Profit, and wealth creation,are two things this country is in dire need of.

The sooner we, as a state, lose that chip on our shoulder, or psychological complex, that we seem to have about money and wealth, the sooner we will become successful and sustainable - and indeed financially independent - as a nation.

hmmm

I've never been convinced by his arguments, I'm not sure what his particular claim to fame or expertise is that has him on TV so much.

gollem_1975

afaik he was the media face of a protest outside the dail that propertypin organised years ago.

he then started to get some airtime on newstalk.

he was one of the select few (such as Morgan Kelly ) voices in the media that were calling a property bubble while 99.9% of the media were cheerleading it ( a fact that said media seem to have collective amnesia about now )

SkepticOne

gollem_1975 wrote: »

he was one of the select few (such as Morgan Kelly ) voices in the media that were calling a property bubble while 99.9% of the media were cheerleading it ( a fact that said media seem to have collective amnesia about now )

He took a very unusual position for a mortgage broker at a time after the burst and other brokers as well as estate agents were still trying to talk the market up. However I think there was a large element of denial in these other groups. In reality if you make a living out of property transactions, once the bubble has finally burst it is in your interest to have prices drop to their long term level (whatever that may be) as soon as possible in order to get volume back into the market.

Possibly in addition to denial these other brokers may have been trying to talk up the value of their own property portfolios.

swampgas

SkepticOne wrote: »

Possibly in addition to denial these other brokers may have been trying to talk up the value of their own property portfolios.

Human nature doesn't change much. Upton Sinclair wrote in 1935 that "It is difficult to get a man to understand something, when his salary depends upon his not understanding it!"

MortgageBroker

Wow, I feel kinda complimented to have a thread just about little ol' thicko me!

Anyway, to answer the question: Don't listen to me if you don't agree with what I say, I am a person who is indeed as vested interest as they come, but that doesn't mean it is the same as being dishonest.

Much of my commentary has been very anti-property/banking for a long long time, in fact, the whole reason I am a commentator is because I was one of the first within industry to hold those views and say it publicly. I don't fundamentally dislike either, I just try to call things as I see them.

Have a small correction: I was not a 'media face' at the propetypin protest, I was one of the pair of proposers and organizers of it (the other was a guy who went by the name 'bertiebasher').

I think Later10 has a good point, profit can actually be ethical, none of our clients have ever written us a letter and said 'damn you anyway' or 'you did us wrong' and as a broker I take some comfort in page 21 foot note 27 of the Nyberg report.

As for my calls over the years, I do an annual 'mortgage market trend outlook' every year, sometimes I get it right, sometimes I don't.

Hope y'all keep tuning in!
kd

Treehouse72

I don't think Karl is by any means the worst of the VI's, nor do I believe he says things he doesn't believe.

Indeed, he has been fairly vocal in recent years on the key central truth about our economy and housing market: that delay-and-pray, extend-and-pretend are disastrous paths to go down. His suggestions for where we go from that initial thesis might not be to everyone's tastes, but at least the diagnosis is sound which is more to be said for others.


Ed: And the "Prediction Review" reports he does - which he mentions above - are a HELL of a lot more than other predictors do, and to boot have been generally spot on in recent years.

Joe10000

I always have thought he talked a lot of sense.

Mr. Loverman

hmmm wrote: »

I've never been convinced by his arguments, I'm not sure what his particular claim to fame or expertise is that has him on TV so much.

He has an American accent.

SBWife

Look at his Linkdin profile. It's exceptionally poor. He misspells finance and admits to being unable to pass CFA level 1 on his initial attempt.

Slideshowbob

MortgageBroker wrote: »

Wow, I feel kinda complimented to have a thread just about little ol' thicko me!

KD,

Please don't be so disingenuous !!

lil' ol' thicko you is well able to spout on the national airwaves about whatever

There's no way you have such a low opinion of yourself otherwise you would not be able to pontificate such opinions!!

Either that or you are a total schitzo!!

Sand

The unfortunate thing with all these commentators is that theyre all human beings, and thus not up to the standards demanded of them.

You can name any single public figure or commentator and someone will find *something* that might be seen to dismiss them and all their works. Its a national sport in Ireland. Its important to understand who a person works for and how they might be influenced, but its also important to play the ball and not the man. If Karl Deeter is talking rubbish (and he might be), then deal with his points or arguments. It will help raise the discussion beyond "I dont like <insertpersonhere>, hes got a stupid looking head on him"

MortgageBroker

SBWife wrote: »

Look at his Linkdin profile. It's exceptionally poor. He misspells finance and admits to being unable to pass CFA level 1 on his initial attempt.

A type-o?! That is very damning, career ending evidence. I must admit, I enjoy typing discourse with spelling pedants, but have always found it to be more of a art than an science.

And as for not passing CFA1 on first attempt, truth is that I didn't put in the work required, but the dismissive view that 'he admits to being unable to pass cfa 1 on initial attempt' tells me two things, either you are a god of finance who breezed through them or you don't know what the CFA is like, it's a really hard exam.

@TreeHouse72 glad at least one person outside of the office had a look at the reports! :-)

ballsymchugh

hey karl, i heard that you bought a house in longford and the piping and heating system were stolen. is that true?
sorry if it is, but it's kinda funny!!

macannrb

MortgageBroker wrote: »

And as for not passing CFA1 on first attempt, truth is that I didn't put in the work required, but the dismissive view that 'he admits to being unable to pass cfa 1 on initial attempt' tells me two things, either you are a god of finance who breezed through them or you don't know what the CFA is like, it's a really hard exam.

I haven't done them myself, but I know a good few guys that have, and a lot of work and time needs to be put into them. And the recognition and status of them is perhaps dubvious, which is probably a little unfair.

MortgageBroker

ballsymchugh wrote: »

hey karl, i heard that you bought a house in longford and the piping and heating system were stolen. is that true?
sorry if it is, but it's kinda funny!!

it's all true. I heard of tanks being dipped for oil but not entire heatings systems getting robbed! (until of course it happened).

SBWife

MortgageBroker wrote: »

A type-o?! That is very damning, career ending evidence. I must admit, I enjoy typing discourse with spelling pedants, but have always found it to be more of a art than an science.

And as for not passing CFA1 on first attempt, truth is that I didn't put in the work required, but the dismissive view that 'he admits to being unable to pass cfa 1 on initial attempt' tells me two things, either you are a god of finance who breezed through them or you don't know what the CFA is like, it's a really hard exam.

@TreeHouse72 glad at least one person outside of the office had a look at the reports! :-)

Attention to detail is normally an important quality to have in most finance roles. As for the CFA I'll suffice it to say I am a charter holder.

MortgageBroker

SBWife wrote: »

Attention to detail is normally an important quality to have in most finance roles. As for the CFA I'll suffice it to say I am a charter holder.

I have no way of knowing, in my anonymous profiles I'm a nuclear physicist.

MortgageBroker

SBWife wrote: »

Look at his Linkdin profile. It's exceptionally poor. He misspells finance and admits to being unable to pass CFA level 1 on his initial attempt.

One last thing, you said that I misspelled 'finance', are you sure that you weren't referring to 'financial' (which did have a type-o) - I'm sure you note the difference between the two words.

Yep, the ol' attention to detail thing is a must.

Lockstep

SBWife wrote: »

Look at his Linkdin profile. It's exceptionally poor. He misspells finance and admits to being unable to pass CFA level 1 on his initial attempt.

Presumably you mean LinkedIn.
A classic case of Muphry's law .

Delancey

Although I accept Karl Deeter may be considered to be a ' vested interest ' I have to say I would attach considerably more weight to his opionions than that of Auctioneers , Economists employed by Estate Agents , etc.
Listening to their pathetic efforts to talk up the market is vomit-inducing.

HellFireClub

At least he isn't a public sector worker, there's some hope for the man... :D:D

sollar

SBWife wrote: »

He misspells finance and admits to being unable to pass CFA level 1 on his initial attempt.

The last time i seen your name in a thread it was to berrate me for using a word out of context. Quite a few of your posts have been either to pick out grammatical/spelling errors, question someones intelligence or to try and demonstrate how incredibly great you are.... get over yourself for god sake SB.

20Cent

He seems to be telling it how he see's it imo which is better than most commentators on tv. There was a primetime ages ago where he said do we want banks or a country (paraphrasing could have been society) his voice kind of cracked with a sadness that summed up the desperation many people were feeling.

regi

I've generally agreed with what he's said for the last few years and think his background in the industry adds a good perspective.

However, I must express approval for a man who wears a 4chan teeshirt in public too :-)

Scofflaw

Could people try to restrict their critical analysis to Deeter's competence as an analyst, rather than his spelling, accent, or any other irrelevant personal characteristics?

moderately,
Scofflaw

carm

Delancey wrote: »

Although I accept Karl Deeter may be considered to be a ' vested interest ' I have to say I would attach considerably more weight to his opionions than that of Auctioneers , Economists employed by Estate Agents , etc.
Listening to their pathetic efforts to talk up the market is vomit-inducing.

+1
Totally agree.

Having worked for an estage agent (which I won't name as I don't want to advertise them in any way or upset the boards admin), they are a particularly self-centred bunch of people. That's in general. I am sure there is one that wouldn't sell his grandmother so apologies to you. Not only do they like to talk up the market, they like hearing their own voices as they do so.