I would like to know how Mr Jenman would like it if someone started a website called NEIL JENMAN CHILD MOLESTOR, and told everybody that he is a child pornographer and child molestor just because they beleive he is?
Neil Jenman attacked me and calls me a Spruiker, yet he has also lost many defamation cases for others that he has attacked without evidence. There is a whole website now devoted to showing Mr Jenmans real character and Judgement mistakes, you can visit this at www.jenman.org and read about his defamation losses and other people he attacked and how his opinion was very different to what the courts beleived was correct.
Just because you think someone is a conman or Spruiker, that does not mean it is true, and it is quite obvious Jenam has been wrong about this quite often, or so the courts would have us beleive. Or do we believe that the courts were wrong and Jenman is right?
The Federal Court Judge and the 3 Appeals Court Judges found that there was no evidence to show that I had sold overpriced properties. Yet after that judgement was handed down I am still being called a shark or a spruiker.
The Federal Court judge Listened to 5 weeks of the ACCC accusations against me, they found me Not Guilty, the judgement was almost 100 pages, and there was probably 1000kg of paper in evidence as well as witnesses. So please do not say I am a Spruiker please say how the Judge was wrong or how the Judge is a liar.
I do not say that some people who purchased property through our companies did not lose money as some clearly did, but what I am saying is that we told them to hold onto them for 10 years or so, if they would have they would have received great profits. Instead they listened to the media and others and they then sold them at a time when they should have been holding them.
Mr Jenman does not speak to you, he decides you are guilty, while disregarding the Judgement of a Federal Court Judge, he knows better, and then he publishes bullshit with out looking at the long term results and hard evidence, Sure he might find someone that sold after the media hit, which increased supply and reduced demand, but lets look at what happened over 10 years and what happened to the majority of people that kept the proerties for a long time. We never told people to buy today and sell tomorrow.
Common sense tells you that if the Media comes in today and says ABC Learning centres are going broke through massive debts, which happened this year, then everybody sells and guess what the price goes down, yet history will probably show that this probably the best time to buy. The same thing happened with Channel 9 and Alan Bond and Kerry Packer, everybody was saying buy and Bond bought Channel 9 for $1 Billion, when everybody was saying sell, yet Packer bought it back for $300 Million. Who do you listen to, Packer certainly did not listen to what the media was saying, he went against his own media outlets and General consensus, for his own benefit?
Packer done the same thing when Westpac was down, everybody was selling and he was buying. Would you rather buy when prices are up or down? Of course we all want to buy low and sell high, that is how you make money.
The people who bought after the media hit have benefited so much at the expense of the original purchaser, they doubled their money in a very short period of time because of the Media, maybe it was Jenman that was buying these properties. I certainly wish I would have bought these properties.
How can anybody expect that a property would be worth more after the media tells the whole country these properties are over priced and they were ripped off, the owners want to sell and nobody else wants to buy as they do not want to be ripped off as well. It is only the real confident and brave that buy when the media is saying sell. But it is those people that really benefit more than anybody else. The real estate agents obviously benefitted and some like Heather Filipini are losing there licenses because of this sought of action, I just wonder was Jenman one of these people buying up these extremely cheap properties.
Just think, someone buys a property for $150,000, the media comes in and says you were ripped off, here is our valuation, the purchaser says we were ripped off we must sell, no buyers around after the media though. It eventually sells for $100,000, after 10 years the properties that were sold for $150,000 now are selling for $300,000. The person who bought for $100,000 though has got a $200,000 profit rather than a $150,000 return. One has gone up 100% the other 200%. It just makes me wonder who really benefited from these media attacks., was it the original purchaser that was happy until he listened to the Media and sold. I do not think they are happy if they sold and lost money. I am certainly not happy, but the new purchaser is over the moon, the only question is who benefited from this increase in supply and reduction in demand?
I mentioned ABC learning earlier, and I think what happened there was the share price was forced down by some big players who were short selling the company, they then forced the price down enough that it triggered the margin calls from the directors of the company. This forced the lenders who owned these shares to sell them to cover the margin calls. The new shares coming on the market forced the price down even further which triggered more margin calls which forced more shares on the market. The people who then started short selling picked up the shares and possibly the company for next to nothing. The person who owned most of those shares, Eddy Groves, lost about $200Million. Was it because the company was bad, or was it because somebody else wanted Eddy's $200 Million and seen an easy way to get it.
I do not know the answer to this, but lets just watch and see whether the company is worth more in a few years or it is out of business. I think it will be worth more. Time will tell, I think it is going to be like channel 9 and Westpac and many other companies. The Media would have you believe that prices are down so they must be bad, I believe they are good, lets see whether the price in Early 2008 is Good or Bad Value in a few years.
I do not know why I was attacked and why the media used Dodgy valuations to attack me, and I do not know why Jenman attacks me, he is certainly not helping purchasers telling them to sell in the middle of a property attack from the media because of inaccurate valuations.
Everybody knows the property boom has occured recently, we were telling people to buy before the boom and hold it for 10 years, that turned out to be a great thing? The properties we sold were on average less than $165,000 on the Gold Coast and Brisbane and cost there owners less than $80 per week with no money down, and are now worth well over $300,000. I wish I would have sold more and bought more myself.
