May 11th, 2007 1:07 am
Casey Serin / Foreclosure Mention in Stern (German)
I was mentioned in Stern, a German magazine. The reporter that interviewed me sent me a copy. I got it a few days ago and wanted to share it here.
[The reporter sent me a package with Stern and two accompanying publications, see above. One looks like a TV guide.]
The problem is I can’t read German…
Maybe somebody can help me figure out if they are saying good things or bad things about me. Here is the online version of the article. Or check out the screenshot:
This is my first international media exposure. Being international is good and all but things have been very crazy at home. I can’t share everything right now. So let this post serve as a temporary distraction.
120 Comments
May 11th, 2007 at 1:21 am
Casey, you need to read this:
How to be a multi-millionaire by age 66
This guy is about 100 times smarter than you. He doesn’t need to get quoted in a German variety magazine.
All you need is a JOB, and save an average of $1200 per month for 43 years into a tax sheltered investment that returns 5% per year, you’d be able to retire with 2 million 162 thousand dollars at age 66.
That’s a much more sensible business plan than your kooky arbitrage and leverage dreams.
May 11th, 2007 at 1:22 am
second!
capta: stated
May 11th, 2007 at 1:26 am
It says something like ‘Vee Believe in Nussing, Lebowski’.
May 11th, 2007 at 1:32 am
Being international is good
Do explain why? You can’t read or speak German. No one in Germany will need or use anything on this site. All that has been achieved is that some Stern readers have now heard of Casey Serin.
When was the interview done? Because the article says you still had one house so this is old news .
In summary (as far as I can tell):
You bought 8 houses in 8 months
You made “a set of errors”
You tried to cover your losses by trying to make a profit on later deals like “a player in Las Vegas” (Ooops, a Stern reporter think you have a gambling problem too)
You are down $500,000.
May 11th, 2007 at 1:50 am
Make that “a series of errors” not “a set of errors”.
May 11th, 2007 at 2:31 am
Once again, Babelfish provides a flawless translation. My favorite lines: “Casey Serin made, as it admits, “a set of errors” - under that giving immediately its job up - and slipped in the express speed into the bad ones. When the first business beside-went, it bought always new houses, in order to cover with the hoped for profit its losses, similarly as a player in read Vegas, which increases its employment after each failure.”
Translation of the article:
Property market
Pages 1 | 2
On this house our prosperity hangs
In the small town Madison praise banks of credits on the road on: “horns it, if you need a house”
Long time seemed to be it a boom without end. Nearly everywhere in the country the house prices climbed year by year, and who in cities such as Boston, Chicago, San Diego or Los Angeles lives, was allowed to hope for increases up to 30 per cent, every twelve months again. In the player city read Vegas shot the prices briefly even by 40 per cent in the year. The effect was enormous: Since 2001 enumerate, became, Scott Simon of the Investmenthaus Pimco 40 million US households around on the average 125,000 dollar enrich. “people, which possessed before six years still as well as nothing, feel sudden, as if they would have a fortune”, observe the financial manager. The fact that it concerns a pure paper ability, which can verpuffen just as fast again, if the wind at the property market turns, does not play a role. “the people know only that they felt never so rich, say” Simon. “thus they pull loose and buy flat screens, Cadillacs and all such things. This prosperity effect was enormously important for the economy.”
© Karsten Lemm
Become completely fast rich: On an investor fair in San Francisco Immobilienmogul Donald Trump is announced
That does not only apply to the USA. Enterprises in all world owe flowering business to the felt wealth of the Americans. Whether Chinese Tinnef with whale Mart, Swiss clocks with Tiffany, Versace dresses on the Fifth Avenue or 7er-BMWs on California roads - in many cases the necessary change for the consumer intoxication originated directly from a house credit. Therefore many experts of economic politics become mulmig, if they see the black clouds, which together-brew themselves now over the US property market.
First lightnings twitch already on banks and brokerbroker brokers down, which assigned all too thoughtlessly credits. Many of them lured customers, who could actually afford no house, with loans, which seemed irresistible: no pre-payment and entrance interest from sometimes only one per cent. The thick end follows later, if the interest rises precipitously. Now the problem lies exactly there. In order to keep the inflation low, the US central bank closed the money c*** piece for piece again and raised the interest on at present 5.25 per cent. Suddenly house buyers, who transferred at first only mini rates to their bank, must apply amounts, which its income does not give. Some of such “second-class credits”, how they are called in the industry, already burst and to have banks into the bankruptcy tore, which had specialized in loans at Wackelkandidaten.
“speculators are now punished”
How simple it could be to come at capital shows up by the example of Casey Serin: The 24-Jaehrige bought eight houses in eight months, without carrying a cent out pre-payment. “banks are pleased, if they can lend money”, tell it. “nobody asked for collateral.” The programmer did not intend to collect so many houses; it wanted to enter, reconditions, with profit again steps out - so, as he on “material the Estate & Wealth the Expo” in San Francisco had received, a fair, with which also Donald Trump arose. 1,5 million dollar the Immobilienmogul receives for such meetings. It the fee is safe, its listeners the fast wealth is only promised. Casey Serin made, as it admits, “a set of errors” - under that giving immediately its job up - and slipped in the express speed into the bad ones. When the first business beside-went, it bought always new houses, in order to cover with the hoped for profit its losses, similarly as a player in read Vegas, which increases its employment after each failure. Occasionally it sat on 2.2 million dollar debts; now, after he lost all houses up to one, there is still scarce 500,000 dollar. “speculators are punished now”, say Christopher Cagan of the financial analysis company roofridge American Corelogic. Because the best times are get it past and now those, “in the riskiest business got involved”, say it. “that is not different than at the stock exchange.” After Cagans computations threaten 1.1 million hypotheken with variable to collapse thus not fixed interest rate the majority of it in the coming year. The expected damage of 326 billion dollar Cagan considers however strengthable.
Others see more sceptical. In their eyes the problems straight begin only. “the number of the empty houses, which stand to the sales, reached, says a record level” Pimco-analyst Scott Simon, “that is an alarm signal.” It prognosticates that the value of American real estates in this year rather sink as will rise - in extreme cases over up to ten per cent. That, then he believes, can for his compatriots the consumer mood spoil. “Americans are everlasting optimists, but they do not spend gladly money, if they become nervous, say” he. “and for the moment one cannot take a newspaper into the hand, without reading bad over the house market. That presses on the tendency.” With the Preocanins in the kitchen one can see that. Actually still the dishwasher is to be exchanged. “Bosch would be my first choice”, says Peter. “those is quietly, energy-saving and looks also still good.” But for the time being the German domestic appliance company must do without this order. The family wants to wait with further acquisitions. Them the economic situation became too uncertain, and the messages of the housing market approximately around Madison are not encouraging also. “there are no buyers”, say Shelley, and their man supplements: “in former times the houses were away like nothing.” It schnippt with the finger. “however for one year approximately everything goes only rather sluggishly.” A dream threatens to burst - and the whole world will feel it.
May 11th, 2007 at 2:36 am
Here is a translation of the portion of the article which mentions Casey. (Usually people pay me to do this, but what the heck, here ya go):
“Just how easy it is to come by capital is shown by the example of Casey Serin: The 24-year-old bought eight houses in eight months, without putting a cent down in pre-payment. “banks were pleased to be able to lend money”, he said. “Nobody asked for collateral.” The programmer did not intend to own so many houses; his plan was to buy, refurbish, and then sell again with profit…Casey Serin made, as it admits, “a set of errors” - one of which was quitting his job quickly - and went on to rapidly make dangerous errors. Although the early deals did not bear fruit, he went on to buy successively more houses, hoping to recoup his losses with new profits. It was similar to the way gamblers get deeper and deeper into the hole in Las Vegas. At one point he had 2.2 million dollars in debts; now, after he has lost all of his houses except for one, he is still down $500,000…”
May 11th, 2007 at 2:43 am
Is that your hand in the photo? Are you wearing a pink shirt?
May 11th, 2007 at 3:00 am
If you translate the first page, the first line is “In the USA the property market is located on the dump.” That’s the best summary of the US housing market I’ve heard all year.
May 11th, 2007 at 3:38 am
Hey Casey, did they make you touch their monkey?????
Friday May 11th
1:00AM-Since I have not slept in 2 days, I guess this makes me an early riser.
1:15AM-Lots to do today. I have to drop off “G” at her cleaning job, get another loan from my corp and hit the ole Jamba Juice.
1:45AM-I wonder who that is knoking at my door, I will go check it out…
1:46AM-Hey, who are you guys? What, who, Trailer Park Boys…OH GOD, ITS CODE RED TIME!!!!!
Yes Casey, It could hapen anytime, anyplace…
GET A JOB OR ELSE FACE THE TRAILER PARK BOYS!!!!!
Julian
Extreme Hater
May 11th, 2007 at 4:03 am
You’ve got to roll this into income, Casey. This type of exposure is so ffffffing rare.
I am still going to send you the bucks for the dinner, but please be patient. I will keep my word.
May 11th, 2007 at 4:20 am
Hey Casey -
I have bought 10 Peruvian Llama’s - I am selling them for $2000 each to you. You want in on the deal ?
You wont regret it !
Say Hi to Gallina,
Loads O Money
May 11th, 2007 at 4:32 am
haha nice translation there
May 11th, 2007 at 4:37 am
‘Made it, Ma! Top of the world! ‘
May 11th, 2007 at 4:51 am
Casey,
Please answer clearly if you bought the GSPG stock or not. It is a good question but you did not provide a good answer. Please give a straight answer to the question; did you buy the GSPG shares or not?
If you did, it can hardly be more embarrassing than what you’ve already revealed.
May 11th, 2007 at 5:00 am
Come on Casey, clearly the most moral, forthright action you could take right now is to disclose the Utah wrap to your lender, no matter what the possible financial losses to yourself. I remember when you whined and whined to the mortgage fraud expert about how you could atone for your mortgage application fraud. The opportunity for that is well past, but right now its within your power to fix the Utah error.
So Casey, are you going to do it, or are you just full of s*** as usual?
May 11th, 2007 at 5:08 am
“Did you use the corporate credit card to buy the magazine?”
As he said in his post, he got it for free from the reporter. Learn to read, shithead.
May 11th, 2007 at 5:22 am
More fluff. I won’t tell you to get a job.
May 11th, 2007 at 6:13 am
let me summarize:
de casey is de moron
May 11th, 2007 at 6:37 am
Casey,
Charles Manson has international exposure. Al Capone did, too. People like Wolfowitz have it.
You should be ASHAMED of this kind of exposure. In your twisted, rotten mind, though, I bet you are thinking how to “monetize” this exposure. Why don’t you go to Germany and buy 8 houses? Maybe with your newfound exposure, you’ll have lots of people willing to give you their hard earned dollars.
Then again, maybe not.
May 11th, 2007 at 6:44 am
Among my many skillz is a fluent knowledge of German. Allow me to translate the most relevant sentence:
“Als die ersten Geschäfte danebengingen, kaufte er immer neue Häuser, um mit dem erhofften Gewinn seine Verluste zu decken, ähnlich wie ein Spieler in Las Vegas, der nach jeder Pleite seinen Einsatz erhöht.”
While the first deals were going bad, he kept on buying new houses, hoping to make up his losses from the anticipated profit - like a Las Vegas gambler, who raises the odds after every loss.
You come across as someone a bit naive who tried to play an admittedly over-flexible system and screwed up big time. It’s only a shortish mention in a long article on the US property market woes.
May 11th, 2007 at 7:01 am
Arthur Wankspittle (above) has it right, though it reads (when you are German) as a “series of errors”, and yes, the reporter does indeed compare you to a gambler in Las Vegas, down from losses and (implying foolishly) trying to cover them by placing more bets.
All in all, Casey, it seemed not so negative in tone as far as how you are portrayed — though not very positive either, lest you get chuffed about the publicity. Interestingly, he writes that you actually wanted to fix up those houses and sell them for a profit, though in recent months that certainly seems to not be the case. You got off lightly.
As for the one house you have left, maybe he is including the Utah “wrap” as something still on your potential obligation list. Or, more likely, his deadline was before the last foreclosure.
May 11th, 2007 at 7:07 am
“which can verpuffen just as fast again”
I’m a fellow verpuffen myself.
May 11th, 2007 at 7:18 am
oh, what a sad sad state of affairs.
captcha: stated
May 11th, 2007 at 7:23 am
Let me translate it for you, Casey:
“Casey ees veddy, veddy focked. He schtole to maach money for de houzez ein he der not payed de mort-gages
ein he schcrewt ze bank out uf der money. He ees up schitt creek wit out ze paddle.”
May 11th, 2007 at 7:34 am
Basically the article uses you as an example of how people are sucked in by financial crazes like this. The first sentence of the section about you goes like this: Wie einfach es sein konnte, an Kapital zu kommen, zeigt sich am Beispiel von Casey Serin: Der 24-Jährige kaufte in acht Monaten acht Häuser, ohne einen Cent Anzahlung zu leisten.
That means: How simple it can seem to make money, as in the case of Casey Serin: the 24-year-old bought eight houses in eight months, without a penny down.
The article goes on to imply (correctly, I think) that “wealth expos” and “real estate seminars” are great for the people who give them (it mentions that “real estate mogul Donald Trump” gets $1.5M for his involvement in the seminars, and that while that money is guaranteed to him, nothing is guaranteed to the people who try to take his advice).
May 11th, 2007 at 7:37 am
well, this should fix everything!
May 11th, 2007 at 7:50 am
Hey Casey,
What do you do all day? Can you post another daily schedule?
Thanks
May 11th, 2007 at 7:53 am
Casey - your inability to read german is the LEAST of your problems.
Casey ist ein Trottel
May 11th, 2007 at 7:54 am
Did you get your wedding ring from a claw machine?
May 11th, 2007 at 7:57 am
“I was mentioned in a German book, Mein Kamf”. “I think you’ve heard of it. It’s a book by an out of work painter. I can’t read German…I was wondering if it said good things or bad things about me.” “Could someone translate?”
“By the way it came with a rock in the shape of a bar of soap? Is this a german good luck charm?”
May 11th, 2007 at 8:01 am
if I want to place a text ad is there a limit on content? Can I make it say anything I want?
Casey’s advertising page is pretty clear on this:
I reserve the right to approve or reject your link for any reason.
May 11th, 2007 at 8:09 am
good god your nails are blue!
May 11th, 2007 at 8:39 am
It says you were ripped off by Donald Trump, but he’s too smart for you so you won’t get your money back.
It also says that the people who loaned you money were stupid to do so.
All in all, it’s really not that complimentary about you. I wouldn’t boast about it if I were you.
May 11th, 2007 at 9:03 am
Casey,
What exactly is the value of spending $100 on a sponsored link? Why wouldn’t I just go to YSM and pay PPC. For $100, I could guarantee traffic to my site.
Links on this site likely won’t do much with the search engines, honestly. Your sponsored links appear AFTER content and comments in the code. If you get too many comments on a page, search engines may not even reach sponsored links. Plus, if I were paying for a link, I’d be royally pissed that the people under “Incoming Links” and “Sweet Link Love” are there for free.
In fact, to get listed under Incoming Links, I believe all I have to do is link to you from my site and then click on that link. (I’m thinking WP goes by referrer logs on that. Not sure about that, though.)
I think you need to rethink your link sales “strategy”. My guess is that this was an impulsive move that you didn’t really consider fully except for, “Gee, I’ll sell sweet text links for $100 per month. Holy sweetpassive Batman!”
May 11th, 2007 at 9:06 am
Casey,
I agree with isamu. You should disclose the Utah wrap to your lender. That’s an honest act. Doing nothing to inform the lender of the wrap is an act of continuing fraud upon the lender.
May 11th, 2007 at 9:15 am
You were also mentioned in The Economist, which a far more notable international publication than this German magazine. I know you’re “not a details guy” but you surely remember that?
May 11th, 2007 at 9:22 am
The Economist is an international magazine, Casey.
May 11th, 2007 at 9:32 am
I love reading all the comments!!! Casey your a moron hahahaha. You are number 6 on google because people want to find out what not to do… This stuff is great.
May 11th, 2007 at 9:34 am
Knowing the thriving hater community, I’m surprised one of them hasn’t disclosed the Utah wrap to the lender…
May 11th, 2007 at 9:35 am
Casey,
Not all press is good press. You are a side show. Something to laugh at. People like a good circus and you are providing them entertainment for free.
The only other people who will associate with you are other circus freaks. No one reputible would touch you for fear of catching the disease you have.
I just come back to laugh at you and watch you make mistake after mistake. If things ever started to get better for you, your traffic would drop by 90%. Just like most of your situations, its a lose/lose proposition.
Just file BK and get on with it.
May 11th, 2007 at 9:46 am
Dude, forget German, you need to learn Swedish and try to become a citizen. You can get Sweet Passive Income from the government there, even as much as $3,700/month for doing nothing!
It’s all good!
And by the way, I’ve been there and the chicks are REALLY HOT in Sweden.
May 11th, 2007 at 9:57 am
Ich bin ein Hater!
May 11th, 2007 at 10:29 am
Given how well you respond to all the reasonable suggestions made by your readers, I sometimes suspect that you can’t read English either.
May 11th, 2007 at 10:47 am
Here is the translation:
German: ” Das ist un storein uf das kompleatidiot, das Casey Serin. Readen ist un bellylaffen”
English: “This is the story of a complete idiot, the Casey Serin. Read for a belly-laugh.”
May 11th, 2007 at 11:04 am
All publicity is considered good publicity. Anyways, they didn’t mention anything that hasn’t been public knowledge already.
May 11th, 2007 at 11:20 am
What’s the translation of dumkauf?
May 11th, 2007 at 11:30 am
Casey, you’re fooling yourself that decent investments earing 36% per year are sitting out there for your taking. Please believe this free advice from a professional: Ramit’s way of investing is the right way. Listen to him.
May 11th, 2007 at 11:49 am
miltons-ghost says:
“Casey, you need to read this: How to be a multi-millionaire by age 66: “All you need is a JOB, and save an average of $1200 per month for 43 years into a tax sheltered investment that returns 5% per year, you’d be able to retire with 2 million 162 thousand dollars at age 66.”
Sounds like a great idea until you think about inflation. 43 years ago you could buy a nice big hopuse in the Bay Area for $50K, today those homes cost $2mm…
May 11th, 2007 at 12:00 pm
Dude,
You are waaay too self-involved. That’s why you are in this mess. If you really want to be a player, focus on a market–any market. Your goals are irrelevant!
May 11th, 2007 at 1:04 pm
I am facing fork loosure. You website is done.
May 11th, 2007 at 1:10 pm
Casey,
Have you shaved all of your hair off yet?
May 11th, 2007 at 1:24 pm
Casey-
you really should think twice about getting a lawyer. I would suggest you get a few names of good attorneys that work in California. If I were you I would ask Robert Cote who represented him when he got his DUI and had to spend some time in jail.
Do not use Robert Cote’s DUI lawyer however, Robert Cote had to pay thousands of dollars in fines for his DUI. Try a better lawyer than Robert Cote got for his DUI.
May 11th, 2007 at 1:25 pm
Remember Casey, do not use the lawyer Robert Cote used when he was arrested for driving under the influence.
May 11th, 2007 at 1:50 pm
FYI Casey:
http://www.thestreet.com/newsa.....54756.html
May 11th, 2007 at 2:12 pm
Have I mentioned that Robert Cote was arrested for DUI yet?
May 11th, 2007 at 2:16 pm
Robert Cote DUI! Robert Cote DUI! Robert Cote DUI!
Who….. could Imagine…. that they would freak out in Minnesota?
MmmaMinnesotammmmaMinnesotammmmaMinnesotammmmmmmm
May 11th, 2007 at 2:38 pm
#20 thanks for the laugh. I love it, your answers are probably 100% on target.
How is it going snowball? Did you find a job yet? Or are you pretty much resigned to getting a divorce?
Still blogging
Still lying
Still making up childish justifications for lying and stealing
But it’s all good.
Someone asked if you took drugs. Do you? Is “wheatgrass” the new slang for pot? Did you use your corporate credit for a cash advance to restock your “wheatgrass” supply?
It really doesn’t matter to you what the particulars of the law are regarding using corporate funds for personal use does it? “My lawyer says it’s OK so it doesn’t matter even if it is unethical” because snowball has no ethics.
May 11th, 2007 at 2:46 pm
I’ll paypal $5 to anyone who contacts the authorities and sends Casey to PMITA-jail.
May 11th, 2007 at 2:50 pm
It’s good to see that you’re cleaning your fingernails now.
May 11th, 2007 at 3:14 pm
Which one are you — the naked ring guy or the pretty blond?
May 11th, 2007 at 3:17 pm
“Have I mentioned that Robert Cote was arrested for DUI yet?”
Yeah, so who gives a flying turd? I don’t know the details, but it sounds like he was arrested, he payed the fines, he did the time, he owned up to it, he accepted the consequences and he probably learned a thing or three from it.
Now, let’s compare to Young Skyflailer here: borrow $2.2 mil, lose it doing stupid stuff, don’t accept responsibility, try your damnedest to ignore the consequences, buy a shell corporation for the purpose of continuing your fraudulent practices, refuse to accept logical and practical advice, blog about it publicly.
Yeah, Robert Cote is a horrible person. He should be sentenced to an eternity chained to Satan’s toilet. That’ll learn him…
Get bent, troll.
May 11th, 2007 at 3:40 pm
Someone wrote:
>> If you translate the first page, the first line is “In the USA the property market is located on the dump.” That’s the best summary of the US housing market I’ve heard all year.
That’s very funny. The word ‘Kippe’ was translated as ‘dump’.
The word ‘Kippe’ means
- cigarette butt
- dump (where trash is stored)
- cliff, turning point
In this context, the 3rd one is meant.
May 11th, 2007 at 4:15 pm
“We lie best when we lie to ourselves”
May 11th, 2007 at 4:21 pm
Just because I’m wearing a pink shirt doesn’t make me some kind of pink donut eater.
May 11th, 2007 at 4:34 pm
Your problem isn’t your inability to speak German. Your problem is that you are hundreds of thousands of dollars in debt, have no income and you have no common sense, morals or work ethic.
May 11th, 2007 at 4:50 pm
Boy oh boy, Casey do you attract trolls! This Robert Cote DUI character is not funny and enjoys posting porn on his website.
He also isn’t as funny as you.
Hey troll, Cote owned up to the mistake, let it go! Is this the best you got? Bad photoshop, tasteless pictures of pornography and bad commentary?
If I were you Casey, I’d pull those down as that kind of post is as bad as the ones that attack your family.
May 11th, 2007 at 4:54 pm
Hey DUI troll, why can’t you answer why you posted porn on a blogger site? Did Blogger ask you to take it down or did you give in to the pressure?
LOL, the only coward and looser I see is the one who thinks that anybody cares about Cote’s DUI.
May 11th, 2007 at 5:06 pm
Casey Serin™! Is anyone up to the task of outdoing Schnapps, our undefeated champion? This week’s challenge is Donald Duck. [IMG 6 Degrees of Casey Serin™ is an AWESOME game!]
May 11th, 2007 at 5:21 pm
So true #67 but methinks snowball here is beyond hope. He is like a junky whose whole world is falling apart around him yet he is desperately looking for a way to get his hands on just one more hit.
This is a semi-entertaining soap opera now, the real estate part is gone, game over.
May 11th, 2007 at 5:22 pm
I called Casey a nappy highlighted ho, how come I never get trolled?
May 11th, 2007 at 5:30 pm
James_Marks starves his majikal horse.
May 11th, 2007 at 5:45 pm
I see the EN crowd is about to cry. Maybe you can spend your Saturday working it through with your therapist.
For all the comments you make about Casey and Nigel you sure don’t have the guts to take any heat yourselves.
Please keep making more references to Robert Cote’s DUI so that it comes up on the searches….
No idea what you are talking about with the porn on a blog. You are probably as informed about that as you are with the hundreds of other accusations you make.
Something tells me that in the end, this blog is going to make the followers of lonelygirl look like genius’s compared to the EN crowd that gets taken almost daily and has built a pathetic life around following every move and whim of Casey.
May 11th, 2007 at 6:30 pm
Retire by 66 years old? Is this guy kidding? If you stick $15,000 away at 12% (compunded monthly) for 40 years — and do nothing else — you will have $1.8 million. My $65 per hour now please…
May 11th, 2007 at 6:36 pm
Casey I don’t understand how you say you beleive in god? Doesn’t the bible say not to lie, cheat, or steal? You obviously are doing all 3. You need some serious help my friend. If you can’t afford mental help I thnk you should start a donation thread, im sure alot of people would donate money for you to go to a phsyciatrist because 99% of people on this forum think you need it. You are in denial and in your own little world. Please seek help immediately.
May 11th, 2007 at 6:52 pm
So let this post serve as a temporary distraction.
That’s all this blog is to most of us anyway because you rarely answer questions or provide honest updates - nothing new here.
May 11th, 2007 at 6:53 pm
BTW - that is a great pic of you. WOW - you are buff!! ;=)
Is the Economist not international enough for you because they speak English in England?
If so, here’s a Chinese comment for you: ni shi hen piao liang xiao nanren zai nide zhao pian (you are a pretty little man in your picture). For native Chinese speakers - I apologize: wo zhi dao wo zhongwen shuo de hen bu hao (I know I speak Chinese very poorly)
May 11th, 2007 at 7:18 pm
I can’t take too much more of this. Casey you said that the international exposure you are getting is a good thing??
Are you in denial about your situation?? I am confused.
You bought 8 homes at inflated prices in an inflated, down California market and you lied on your loan applications and you think getting exposure for that is good? Do you know too many people with a credit score as low as 650 who couldn’t have done that in California’s market when the wave was crashing down?? Smart California investors were selling their portfolios while you were looking to buy at Full Market Value?? Are you serious??
You took one property with a negative cash flow of $1,000.00???? Dude that is alot of things, but it definitely is not investing.
You are in denial big time. Read your own posts. You said that international exposure is good for the things listed above?? This blog is getting boring and nothing good seems to be coming out of your situation.
You sound as if this is what you are proud of being remembered for????
I would hate to be remembered as a dumb realestate investor. I really thought that you were trying to do something with yourself, but you are not. You are actually soaking in the spotlight of being a broke, dumb realestate investor, “International exposure is good”, what a joke. You are a cornball. Dude you were buying home in California in a down market at FulL Market Value. You are not an investor. You take a gamble, and smart investors don’t gamble.
May 11th, 2007 at 7:44 pm
“at 12% (compunded monthly) ”
where you gonna find this?
May 11th, 2007 at 7:55 pm
You mean while Robert Cote was yammering on and on about how Snowflake’s real estate speculation was forcing old grannies in Peoria to choose between medicine and food, he had a DUI under his belt?
Seriously?
Drunk drivers KILL those little old grannies he claimed to be so worried about. They put healthy 20-year-olds in wheelchairs for life. They make working parents rely on disability checks. They kill kids.
I have no respect for Robert Cote or any other drunk driver.
May 11th, 2007 at 10:16 pm
I am 24 and I work 80 hours a week setting up my company. Well, more like 45 hrs and 30 at a real job for a base salary. I also go to college… speaking of, have you ever stepped foot in a classroom other than highschool? How do you get the time to run off to Lake Tahoe? My parents wanted to pay for a trip to Chicago, but I declined cause I have no time. I am profitable at what I do but haven’t found the time to jack around like you do, dear god.
You have serious money management problems, and the stock you bought, well when I picked myself up off the floor from laughing I could only think, you are four years too late. The bull market started in ‘03 (its debatable but lets go with a consensus); looks to me your entire life is a logical fallacy. Yep, you get into the internet too late, real estate too late, and stocks too late. I do believe that is the bandwagon appeal or something like that. Do you get your ideas from magazines or something because historically the tabloids are a bad place to start. But seriously you need to get a crap job and go to college (and if you have graduated college already you are f*cked to say the least, start enjoying that car) you arent that entrepenur type, you have zero discipline (blame your parents for that, they are convienent).
This is the last thing, when I started my company I put everything I had into it. I (and this is serious) ate peanutbutter and jelly for almost a year to save EVERY dime i could. Although it has paid off it must be really nice to run all over the country living off other people’s money. I had credit cards, but the way I saw it I wasnt going to pay 15 or 18 percent interest on IHOP i ate six months ago. Doesnt make sense.
Well I came to that party late and your 15 mins should be up about now, so take it easy.
May 11th, 2007 at 11:17 pm
15. Mr. Market
‘Made it, Ma! Top of the world! ‘
That’s hilarious! Just seeing it here again makes me laugh. Kaboom!
Casey, Was gibt es Neues? Übung macht Meister. Kauf mehr Häuser mal!
May 12th, 2007 at 12:48 am
Casey,
Is this “Robert Cote DUI” character respectful and constructive? I don’t think so. Perhaps you might disable his permissions?
I’d like to recommend that you stop associating with scumbags and look into yourself for answers and help.
Love,
Akubi
May 12th, 2007 at 2:36 am
Leaver. …Casey Serin Mention in Stern (German)
May 12th, 2007 at 3:06 am
Have I mentioned that Robert Cote was arrested for DUI yet?
Only about 50,000 times. But every time you do it you’re essentially saying “I haven’t managed to dig up any more dirt”, so go right ahead and post it another 50,000.
May 12th, 2007 at 4:55 am
Hey Casey,
Half the year has nearly gone. How much income have you made so far Casey,
You feeling lucky ?
Loads O Money
ps. one of the Llama’s died - poor thing. There are still 9 left Casey - let me know if you want one. I’ll do a special discount for you, for today only - at $1000. You must have heard Casey - but there’s a hedge fund trying to corner the Llama market - there’s money to be made here Casey - you want in ? Lemme know !
May 12th, 2007 at 6:59 am
Now that your blog has jumped the shark, what will you do, Casey? Eat an armadillo on live webcam and charge us $5 to watch?
The clock is ticking…
May 12th, 2007 at 7:57 am
12% is the S&P average annual increase. If compounded annually, the figure is $1.3 million. When Albert Einstein was asked “What is the greatest invention of the 20th century?” he answered “Compound interest.”
May 12th, 2007 at 8:41 am
@Lost Cause
That is almost certainly an urban legend.
May 12th, 2007 at 10:58 am
I assume that Casey had bought GSPG and lost a lot of money again. His answer is a lame “good question”.
May 12th, 2007 at 1:53 pm
It is pretty funny to think that only a couple months ago you were bragging about how you were going to provide an early retirement for your parents.
May 13th, 2007 at 1:44 am
Well it looks like IAFF is finally back - I mean, reachable that is. Content-wise she jumped the shark on the way to Tahoe.
Serin, you’ve had about 50% uptime since you started offering text links to people for a hundred bucks a month. Are you planning to slash those prices by 50%?
May 13th, 2007 at 2:41 am
Walter, yeah I know… that’s why I’m finally getting my own dedicated server. Will be finishing up the transfer this weekend and Monday. Comments will be temporarily disabled to minimize getting them lost between instances.
May 13th, 2007 at 6:06 pm
Dedicated server is SWEEEEET. I should have had it from the start!
May 13th, 2007 at 6:36 pm
Lost Cause:
Average return for the S&P 500 since inception is 11.5% ANNUAL. You can’t take an annual number and decide that you’re going to compound it monthly. The monthly return is about 10.9%. Compound it and it works out to about the same number annual.
But that’s missing the point. We only have about 50 years of history on the S&P, which include two major booms and one “flat” period. If the index had been started in 1950 at the beginning of the postwar boom, rather than 1957 the total return over the life of the index would be higher. If they had held off until 1963 it would be lower. If it had been started in 1937 (coming out of the great depression) it would still be lower. If it had been started in 1929, the number would be much, much lower.
(Studies I’ve seen, that use the combination of the S&P 500 with it’s predecessor, the S&P 90 suggest that something in the 9-10% range is a much more realistic expectation.)
Which is a nice way of saying that nobody knows what the right average is to use, but just picking the current average is likely to be wrong. We don’t get to pick when we are born or when we get to save. Some of us had the great fortune of starting savings just as things took off in the early 50s, and started retiring and pulling cash out in the late 90s at the tail end of a second boom. Less fortunate people started saving in the late 60s and will begin retirement in a few years. The latter group will see much lower returns over their lifetimes. Sucks, but the averages don’t really mean much for any of these people.
Most financial planners I know recommend planning for 8-9%. The idea being that if you plan conservatively you’re unlikely to find yourself getting a nasty surprise. Some of the more sophisticated ones I have worked with plan in “best, worst and most likely,” usually using 8%, 11% and 14% as their numbers.
(And keep in mind that all these numbers are before taxes, transaction costs etc.)
Not that any of this matters to our friend Casey, for whom “long term” is next week.
-btc
May 13th, 2007 at 7:11 pm
You had a dedicated server. His name was Nigel Swaby. But you blew it. You wouldn’t listen to his sage advice and tales of material wealth through the magic of Olympic Pin marketing. Now the guy has pretty much given up on you like everyone else.
May 13th, 2007 at 7:12 pm
More importantly, all those 10%+ returns for the S&P include inflation. What you really care about is the *real* return ex-inflation. I wouldn’t plan on much higher than 5% or so for that. 10% return with 4% inflation is 6% real… that’s the number you should be using…
May 13th, 2007 at 7:20 pm
Casey,
It’s nearly mid-May.
1. How much money have you earned (not borrowed) so far this month?
2. How’s the ghostwritten book coming along?
3. What’s the planned release date?
4. How much advance did the publisher give you?
5. How much money have you repaid to your corporation regarding the money you borrowed to pay your rent until 30th June?
May 13th, 2007 at 7:30 pm
WOOHOO!!!
May 13th, 2007 at 7:34 pm
watup wit sum ansurs homey?
May 13th, 2007 at 8:41 pm
Casey, since you are having problems with your credit cards, at least get a backup on Blogger.com. That way you won’t have people speculating on whether or not you have been arrested.
May 13th, 2007 at 9:23 pm
“Being international is good”
I still can’t understand why you believe all the publicity is good. You are infamous for being a failure…
May 13th, 2007 at 10:14 pm
Wow.
I must have pressed the rong™ button on fryday™ because my translation didn’t make it.
wow™
May 13th, 2007 at 11:20 pm
hve you given some thought to getting into the credit repair business. Everything you need to know to become as smart as Suzy Orkin, you can read on one page (http://www.myfico.com/CreditEducation/ImproveYourScore.aspx).
Plus you’ve got horrible credit, so now you can write about what you’re doing to improve your credit. Than once you succeed you’ll be able to call yourself an expert.
If you don’t like this idea than how about becoming a loan officer. Maybe you’ve learned something about over-extending yourself, and where you should have stopped last time.
May 14th, 2007 at 10:25 pm
Dedicated server is SWEEEEET.
Dedicated server has been unavailable all day. Way to miss out on all that sweet, sweet C|Net traffic, Casey.
May 14th, 2007 at 10:44 pm
Ah, Germany! Home of scheisse porn. You’re in proud company.
May 17th, 2007 at 2:47 am
most hated blogger in the world”: IamFacingForeclosure.com Housing Panic Blog Get Rich Slowly Blog The Digerati Life Blog The Real Estate Forum Blog LATimes.com: LA Land Blog Salt Lake Real Estate Blog MSN.com Stern (a German Magazine) ABC News Nightline NPR.org (National Public Radio) USA Today New York Magazine: News and Features He doesn’t mind all these negativity, in fact this negative popularity has given him countless opportunities
May 21st, 2007 at 12:18 pm
Can you please just wake up and be responsible? You sounded like it is fame to you… it is not.