Eddie Hobbs

Donald Trump

https://www.boards.ie/discussion/comment/118663469#Comment_118663469

Plenty of people have money to invest and for many of those, it is a good investment to get good advice. Most people with a lot of money actually pay others to manage it for them. The average rule of thumb for a "family office" is often quoted to be a minimum of $100m although this is a very rough figure. n the case of Hobbs, it appears that he used his media profile to attract people who might otherwise have not invested like that. It's a bit sh1tty to laugh at them. You are free to put your own investment credentials up here for scrutiny if you are going to sneer at others.

(I wouldn't have given EH any money because I wouldn't have considered him to have any experience in the area, although perhaps he gave the impression that he had people managing the fund with some sort of experience in order to lure people in? Although obviously not very well experienced people as they seemed to buy stuff without realising local regulations and conditions)

Dempo1

I saw this absolute clown appearance on Claire Byrne Live last week, I almost vomited at the sight of him , it begged numerous questions , the main one, RTE inviting this odious individual on, it's just beggars belief.

It seems he's going under somewhat of a media Rehabilitation, I just hope people won't be fooled a second time round by this buffoons advice 🙄

mickdw

Eddies investment firm borrowed at something like 10 to 1 versus money raised from investors.

Eddie then took management fee of 1 percent on the entire amount so in a climate where property was standing still or dropping, investor funds would disappear pretty quickly.

rolling boh

His tv profile brought in people who were most likely not big hitters who would have already dealth with investment advisors so his clients were people who had a bit of money to spare but unfortunetly backed the wrong horse with Eddie .

Gregor Samsa

Hobbs was a non-executive director of Brendan Investments Property Management, so it wasn't "his" company per say (he did own a minority shareholding). He was brought in as a friendly public face for it. Hugh O’Neill and Vincent Regan were the executive directors (and Regan managing director). Hugh O’Neill, for instance, was previously a financier with Deloitte. He certainly showed poor judgment, was in way over his head, and his "celebrity status" surely attracted people who weren't experienced enough in such matters to be getting involved, but it wasn't as if people were just handing cash over to Hobbs personally, and then he had some people working for him. He wasn't the brains behind the operation.

growleaves

https://www.boards.ie/discussion/comment/118664271#Comment_118664271

Where are my own investment credentials for scrutiny? Lol. Yeah I'm a big-shot bond trader, here's my investment portfolio...

Hobbs worked for Zurich Life for years so I'm sure he could claim experience with money management and selling financial instruments to big clients.

Look its like this, if you are being funnelled into something by media or advertising - stocks, crypto, gambling - its probably a con. If a stranger is telling you 'This is the way to get rich' then it isn't or they wouldn't be telling you.

Many Irish people won't look past the surface of things, won't figure things out for themselves, they just want someone else to tell them what to do and a few assurances that the person leading them is 'official' or has 'qualifications'.

In the Bible its said that there are two parties to a deception, the deceiver and the deceived, and both are guilty.

Why are the deceived guilty? Because a man is meant to use his discernment and look at human nature without blinders on.

No one who appears in the media is your friend. Or who writes for a newspaper. That's lesson #1 for anyone over the age of twelve.

The Detroit thing is comical because the Motor City is a ruin. After white flight and the destruction of the automobile industry, who is going to move there? How is it going to be regenerated and by whom? I think it had something like a 200% population reduction in the decades before Hobbs and his merry band lighted upon it. This is just stuff that everyone knows or should know.

Yeah its mean to laugh but Irish people were naive during the Celtic Tiger. No excuses now though.

While Bill Gates buys up land the ordinary joe buys electronic tokens with no dividend or consistent price stability.

I saw an ad at the cinema the other day, Matt Damon telling people how they can buy crypto. Gee I like Matt Damon, he came to Dalkey.

Tork

I was surprised RTE brought him on at all, considering his Twitter feed has no shortage of mainstream media bashing. He struck lucky with that old TV show where he helped people who were rubbish with their money. After that, he said and did a lot of batshit things and lost a lot of other people's money. He's an odious spoofer.

growleaves

https://www.boards.ie/discussion/comment/118665103#Comment_118665103

He's also gotten a sympathetic puff piece in today's Sunday Independent.

The headline says that he suffered from 'PTSD' after his American debacle.

Thargor

https://www.boards.ie/discussion/2058233936/eddie-hobbs

And yet RTE brought him onto a Claire Byrne special on why its too dangerous to vote for Sinn Fein the other night...

Donald Trump

https://www.boards.ie/discussion/comment/118664609#Comment_118664609

I don't know what you are ranting about but nothing can have a 200% reduction in anything. When you have some money to invest yourself, then maybe come back and tell all the "amateurs" how you are investing it.

I'm not going to sneer at some people who maybe put a chunk of their life savings into a particular fund. Half the country had money sunk into property that crashed around that time............

growleaves

https://www.boards.ie/discussion/comment/118665223#Comment_118665223

"Amateur" is not an insult. If you invest, but not professionally, then you are an amateur investor.

Mad_maxx

What kind of idiot invests in Detroit ?

growleaves

https://www.boards.ie/discussion/comment/118665223#Comment_118665223

It's sad for people who lost their savings yeah. But it was a con. Lesson learned.

Hopefully few now are over-leveraged, or ready to re-embrace Hobbs crying about his mental illnesses, or sinking all their savings into crypto...

Larbre34

"I'm a maverick", says he.

You are yes, Eddie, in the mould of a Paddy Cosgrave or a John McGuirk or John Waters (v2.1, not v3.0).

Not a maverick in the sense of a rule breaker to get results, or someone that shakes the hornet's nest to see what falls out, just a contrarian for attention's sake, an enormous but incredibly frail ego, like a balloon with a weak spot.

A balloon with a big stupid cross-eyed clown face painted on it.

NSAman

https://www.boards.ie/discussion/comment/118665257#Comment_118665257

me! But it’s just outside Detroit … a little place called Grosse Point :)

Donald Trump

https://www.boards.ie/discussion/comment/118665257#Comment_118665257

Well, from what I recall, people gave their money to Eddie for a fund which was advertised as having a mandate to invest in high value German commercial premises such as shopping centres. Money was collected and left sitting on deposit somewhere for a few years (all the while management fees were eating away at it). Then it abruptly changed tack and decided to go to the US and buy distressed properties, not realising that the US is happy to allow cities to decay to nothing because as far as they are concerned, there are loads more cities to move to. I think it then got caught on tax on those properties and actually just handed most of them over.

I don't know the terms of the fund or whether there were lock up periods etc.

breezy1985

https://www.boards.ie/discussion/comment/118663963#Comment_118663963

Well it would be a bit weird to say Eddie is a moron for going against scientists if he agreed with the scientists.

Ah Eddie. A total spoofer.

"I'm Eddie Hobbs and this is rip off republic"

All the while he riding people for hundreds just for a half hour consultation.

The whole detroit thing just smells of a con. A piss poor ponzi.

Donald Trump

https://www.boards.ie/discussion/comment/118665410#Comment_118665410

It wasn't a Ponzi scheme. A Ponzi scheme uses later investment to pay off earlier investors. I don't think anyone got out of Hobbs' fund with their original investment intact

https://www.boards.ie/discussion/comment/118664609#Comment_118664609

Yeah, was shocked to see him shill crypto. Eye blink stuff.

https://www.boards.ie/discussion/comment/118665546#Comment_118665546

It's the current get rich quick scheme?..

Leg End Reject

https://www.boards.ie/discussion/comment/118664223#Comment_118664223

"Cannabilise your mortgage" with your SSIA if you weren't going to opt for an investment property. 😂😂😂

It's fuckin bananas how these shysters like Hobbs are still given a platform.

He's spouting all sorts of nonsense on Twitter and RTE invite him on like he is some kind of credible analyst on everything.

He's not the only example either.

https://www.boards.ie/discussion/comment/118665257#Comment_118665257

I chuckled at this because it's so patently obvious.

Agree, shocking all round. I'd say Hobbs and his management crew had been hoodwinked by some charismatic Wall St yank.

Mad_maxx

https://www.boards.ie/discussion/comment/118666033#Comment_118666033

That there was loads of value in plenty of reliable property markets at the time makes it even worse

Kermit.de.frog

I can say that what Eddie Hobbs says regarding the multinationals, no matter what you think of him, is true.

Large employers in this country are having conversations about a SF govt. It's being done quietly but it is happening.

What I can say is their main concern, from my conversations, is can executives move here - as in will they be raped by a wealth tax?

Which would mean these companies can't send execs here because they won't want to be here which means serious operations in Ireland won't be run.

Which means closures.

Hangdogroad

https://www.boards.ie/discussion/comment/118663570#Comment_118663570

Other than Cahill who are the rest of them?

Jim2007

https://www.boards.ie/discussion/2058233936/eddie-hobbs

Only loosing 13m over 800 investors is a good outcome as these things go…. The financial world is blessed with more than it’s fair charlatans and fools that are willing to follow them. Central banks, Stock Exchange Commissions , Governments and even the EU make good attempts to warn and regulate but at the end of the day people will do as they wish with their money.

We tell people not to invest in high risk asset classes, to diversify their investment and not borrow to invest. And yet we have an entire nation determined to buy a property and think it’s a great investment opportunity…. Sadly only 800 is a good outcome.

Jim2007

https://www.boards.ie/discussion/comment/118664034#Comment_118664034

If you were actually being fair…. They most definitely were not.

https://www.boards.ie/discussion/comment/118666407#Comment_118666407

Well let them have all the conversations they want. Hopefully Eddie advising against an SF government will lead to people actually voting for them. Its years of FF FG governments that have left houses unaffordable for most working people. We cant look after the big millionairs execs and keep shafting our own.