Compassionate Capitalism How I Turned 150 Nos into 1 YES

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On 15 March, Buy2Let Cars went into administration. Graham Bushby and Matt Haw of RSM were appointed as joint administrators. It found that from a sample of 102 cars, 55 were secondhand, even though the company said that used vehicles formed a minority of its fleet because its business relied on securing deep discounts on new ones. The administrators are also trying to establish who owns a Rolls-Royce that somebody was apparently swanking around in. Even though a business with a couple of million in turnover at most and continual losses doesn’t exactly scream “Rolls Royce lifestyle”.

https://bondreview.co.uk/2021/02/21/breaking-buy2letcars-closed-to-new-investment-by-fca-assets-frozen/ For years [Raedex] had massive losses, massive negative assets and it’s just been getting slowly worse year after year,” said Taber. This ‘greed clouding judgement’ phenomenon is itself a form of investment bias. One person making decisions by themselves is not unbiased, because they are swayed by their own motives and desires, as well as by the limits of their own knowledge and experience. That’s why, whenever you see an investment opportunity that looks good, you should first ask an independent financial adviser about it. They will give you a truly unbiased perspective, and so should enable you to find genuinely good investments. Although our company is well financed with a strong cashflow and bank balance, the FCA is putting 24 jobs at risk with this bizarre decision.Buy2LetCars’ founder and chief executive Reginald Larry-Cole and operations director Scott Martin explain how they managed to mitigate risk in their business from day one… Our commercial environment remains sound and we will be here to serve our clients for years to come.” The FCA does not regulate the leasing of cars via Buy2Let Cars but did regulate investments in Raedex.

Figure out why you’re starting the business: If the first answer is that you want to make money, then you’re wrongfooted already. What I do right now it’s not work for me, it’s a joy to go. You have to find your passion. He answered by telling me to attend one of his regular online ­presentations, insisting: “You make sure you listen to the plan and understand it before you spout sh**.” It’s easy with hindsight to see that the Raedex Consortium’s investment model was preposterous. It’s also easy for people to say that of course they would never fall for anything like that. And yet, people do fall for scams like these and will continue to do so. Why?

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