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Non Footy Chat Thread II

Gronk

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Staff member
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But but it’s a Ponzi scheme.

Paywalled.

Riddle me this Batman - if you were a Trustee for a Superannuation Fund and were bound by laws to invest members funds in a prudential manner and strictly limited by investment restrictions (which are subject to significant penalties including even prosecution) would you say that members funds would be "safe" in cryptocurrency ?



You see I am a trustee of my own SMSF and we get audited every year and they are VERY tough.
 

Avenger

Referee
Messages
27,288
Paywalled.

Riddle me this Batman - if you were a Trustee for a Superannuation Fund and were bound by laws to invest members funds in a prudential manner and strictly limited by investment restrictions (which are subject to significant penalties including even prosecution) would you say that members funds would be "safe" in cryptocurrency ?



You see I am a trustee of my own SMSF and we get audited every year and they are VERY tough.
Yes they are safe, Robin. Soon my own fund will give me an option to invest part of my superannuation into crypto and I’m ticking, Yes.
 

Avenger

Referee
Messages
27,288
@Gronk, stop f**king around and purchase couple of grand worth of Shiba Inu. You will thank me in a few years time and it will be your shout everytime I see you.
 

Gronk

Moderator
Staff member
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60,755
@Gronk, stop f**king around and purchase couple of grand worth of Shiba Inu. You will thank me in a few years time and it will be your shout everytime I see you.
Bro I am playing the game however remain a sceptic. I currently hold BTC, HBAR, ETH, STR and SHIB. I have few grand spread across those coins. Enough to make money if they come good and not enough to worry about losing.
Yes they are safe, Robin. Soon my own fund will give me an option to invest part of my superannuation into crypto and I’m ticking, Yes.

When you "tick" the box, I assume that you are signing a waiver and indemnity. That's not what I was talking about. What I was talking about is a super fund investing in crypto without seeking member consent and doing so as part of their wide investment strategy. Higher-return investments tend to carry greater risk as they’re exposed to higher levels of volatility, so this is why super funds steer clear of startups and dodgy hedge funds. They channel their cash into blue chip shares, property, infrastructure, bonds and other fixed interest investments.
 

strider

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72,320
I assume crypto for super funds will be more an option you can put a % of your money into initially if you choose .... maybe one day just included in the high risk options.
 

Avenger

Referee
Messages
27,288
Bro I am playing the game however remain a sceptic. I currently hold BTC, HBAR, ETH, STR and SHIB. I have few grand spread across those coins. Enough to make money if they come good and not enough to worry about losing.


When you "tick" the box, I assume that you are signing a waiver and indemnity. That's not what I was talking about. What I was talking about is a super fund investing in crypto without seeking member consent and doing so as part of their wide investment strategy. Higher-return investments tend to carry greater risk as they’re exposed to higher levels of volatility, so this is why super funds steer clear of startups and dodgy hedge funds. They channel their cash into blue chip shares, property, infrastructure, bonds and other fixed interest investments.
I’m happy for you. You will make money, my friend and I’ll be meeting you somewhere in your area with some nice home made rakija. ‘Rakija od Kajsije’ or apricot brandy is my favourite. You can supply the beer chasers.

I think the crypto investing will be part of the highest risk portfolio mix or a unique option that is one up from it.
 

Avenger

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27,288
I assume crypto for super funds will be more an option you can put a % of your money into initially if you choose .... maybe one day just included in the high risk options.
I’m impressed Strides. That’s exactly what I think will happen. Who says this is just a footy forum? We are now providing solid financial tips for all the battlers out there, the working class and struggle street.

Carramar seems like a lifetime ago. 😉
 

Eelogical

Coach
Messages
18,591
Just got my first jab of the Covid Vax, the merkins have poisoned me!! My shoulder is about fall off. I just need a way to blame all this on Bea Arthur. f**king bald people ffs!!
Why did it take you so long? You were waiting for the free Bunnings sausage sanga with your covid shot deal?
 

84 Baby

Referee
Messages
21,428
You see I am a trustee of my own SMSF and we get audited every year and they are VERY tough.
Then you would know the members (you) can dictate to the trustee (also you) their chosen investment strategy.
Super laws actually don’t give a whole lot of shit where you invest, they just legislate how you make those investments.
Retail funds can freely offer it as a choice to members as well
 

Gary Gutful

Immortal
Messages
42,877
Just got my first jab of the Covid Vax, the merkins have poisoned me!! My shoulder is about fall off. I just need a way to blame all this on Bea Arthur. f**king bald people ffs!!
Did you put in your dodgy one or your good one? I tried both and I’m still not sure which one was better.
 

Poupou Escobar

Post Whore
Messages
67,532
I’m impressed Strides. That’s exactly what I think will happen. Who says this is just a footy forum? We are now providing solid financial tips for all the battlers out there, the working class and struggle street.

Carramar seems like a lifetime ago. 😉
The best advice you've ever given was to get a time machine and buy real estate in the 90s.
 

hindy111

Immortal
Messages
41,090
The best advice you've ever given was to get a time machine and buy real estate in the 90s.

I took a punt and purchased a property when coronavirus first hit last year in April. About 100- 150k was wiped off in weeks as people wanted to sell up fast. I thought f**k it.
Within 3-6mths it bounced back from that. And then gained another 20-25% in the last 12mths.
I had a real good feeling about it.
 

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