Not sure if you remember the french rogue trader who lost his bank $7bn

www.thedailymash.co.uk/news/business/french-trader-was-forced-to-work-30-hours-a-week-20080125680



FRIENDS of rogue trader Jerome Kerviel last night blamed his $7 billion losses on unbearable levels of stress brought on by a punishing 30 hour week.

Kerviel hid his November losses in a batch of wonderfully fresh croissant
Kerviel was known to start work as early as nine in the morning and still be at his desk at five or even five-thirty, often with just an hour and a half for lunch.
One colleague said: "He was, how you say, une workaholique. I have a family and a mistress so I would leave the office at around 2pm at the latest, if I wasn't on strike.
"But Jerome was tied to that desk. One day I came back to the office at 3pm because I had forgotten my stupid little hat, and there he was, fast asleep on the photocopier.
"At first I assumed he had been having sex with it, but then I remembered he'd been working for almost six hours."
As the losses mounted, Kerviel tried to conceal his bad trades by covering them with an intense red wine sauce, later switching to delicate pastry horns.
At one point he managed to dispose of dozens of transactions by hiding them inside vol-au-vent cases and staging a fake reception.

Last night a spokesman for S?c??t? G?n?r?l? denied that Kerviel was overworked, insisting he lost the money after betting that the French were about to stop being rude, lazy, arrogant bastards.

japie said...
Let's face it, they are at the forefront of many of the things by which people are measured.

They just have a healthy dislike of work

And when their wimins speak they sound hawt

KEARNSY said...

NEWSFLASH - you can retire anytime you want! If your waiting till your 65 or what ever till you retire just so you can get a pension or your super payout then thats a life wasted . The key here is to get educated about money and cashflow , get some power back and do what ever you want.!

Cashflow??? Damn! I knew there had to be a flaw in it somewhere.

No problem with Cashflow.

I just need to find my missing F.

Kearnsey ...teach us master please!!!

KEARNSY said...

NEWSFLASH - you can retire anytime you want! If your waiting till your 65 or what ever till you retire just so you can get a pension or your super payout then thats a life wasted . The key here is to get educated about money and cashflow , get some power back and do what ever you want.!

Passive income ,

Investing,

Future,

Tax system,

Hitting 4-0 soon and time to extract my digit on just such things.

Everytime I search for financial info I end up wading thru lots of sign-on to this confreance/DVD/course and/or advertising guff. Eventually it gets too painful so i just look at some nice tatas instead.

Got any webbies/links you can direct to to edumacate meeself up on these things Kearnsy?

Cheers

The Pres.
Funkin good investments Pty Ltd.

Well GF , if your genuinly interested in making a difference in your finances here are a few things to think about.....

The school system is BS if you ask me . They drill us to study hard , get the best grades so we can get in to University , then spend another 4 or 5 years there doing more learning , then at the end of it we're 23 with no job , a massive Hex debt and all we know how to do is work for some one else????
Not once do they ever teach us about cashflow , how to generate it, invest it or even how to spend it wisely.

Lets say that we work 40 hrs a week? Would you be willing to spend 1/40th of that time every week educating ur self about what your going to do with that 40hr pay check? Start paying attention to whats going on around the country in terms of where the money is going. Read the money section in every weekends paper. Start reading money magazines , talk to people , ,,,. How many hours do you spend on seabreeze forums a week??? You could always sacrifice that amount (just a little) and split your time up a bit???.
Personaly I wouldnt take any financial advice of the Internet , and no I dont have any good links . Start reading books , educate ur self rather than take some financial advisor's BS spin on how to make money.

There are hundreds of financial books out there . One that might be of interest to you and one of the first ones I read which suprisingly made a real difference was called "Rich Dad , Poor Dad" by Robert Kiyosaki . oh look you can actually download it here- A good read and true story! www.hugedomains.com/domain_profile.cfm?d=middleastpost&e=com

Good luck

Viva le France......and now Italy too. Impressive shows standing up for your rights!!

Police hurt in clashes over Italy garbage dump
Published on 23 October 2010 - 11:50am

Clashes between police and protestors against plans for a huge garbage tip near an Italian town left five officers hurt, police said Saturday, as the EU warned of legal action if Rome failed to resolve its waste problem.

Two policemen and three carabinieri suffered slight injuries in a face-off lasting several hours with residents of Terzigno near Naples hurling stones and fireworks at them, local authorities said.

The police responded with tear gas and baton charges in the latest incidents in a week of protests that have seen local people block all access to the town's existing waste dump.

The blockade has caused 2,400 tonnes of rubbish to pile up in the streets of Naples, the official responsible for the city's hygiene, Paolo Giacomelli, said.

He appealed to citizens not to burn the waste, after dozens of piles and containers of garbage were set ablaze on Friday night, saying it increased the environmental and health hazard.

The new dump, the biggest in Europe, would be 800 metres (875 yards) from the edge of Terzigno in the Vesuvius National Park, some 135 square kilometres (52 square miles) of outstanding natural beauty in the Bay of Naples.

link:- http://www.rnw.nl/international-justice/bulletin/police-hurt-clashes-over-italy-garbage-dump

KEARNSY said...


The school system is BS if you ask me . They drill us to study hard , get the best grades so we can get in to University , then spend another 4 or 5 years there doing more learning , then at the end of it we're 23 with no job , a massive Hex debt and all we know how to do is work for some one else????
Not once do they ever teach us about cashflow , how to generate it, invest it or even how to spend it wisely.

I agree with your points except for this one Kearnsy. What does education and studying have with having a sound grip on ones financial future? In my experience people who are savvy to the principles of money management and wealth creation come equally from all levels of employment/education. In fact I see more motivation in this area in the lower income levels than the higher. People who struggle with financial planning as often include doctors and lawyers as they do the grass roots. Fortunately because of the amount of study they have committed to, university educated people can normally earn a decent wage to cover the fact they are hopeless with money. Doesn't mean they'll have much when they stop working though.

This stuff is not rocket science, but there is a lot of crap to wade through. A committment to spending time on a regular basis educating yourself on financial strategies, reading the types of material Kearnsy has mentioned and ensuring you are committed to a regular process of review and action will always bear dividends, no matter how little you have to play with from a regular income. Discipline and committment is the key.

Funky - I can relate to the boobs diversion on the internet, but spend a bit of time searching for other forums that focus on financial planning and investment. You will get the same cross section of worth you do here, but overall it should help.

By the way - Rich Dad Poor Dad is a recognised Icon for anyone to read and "get" the principles. There is plenty more from that author and others, but anyone who has read this thread and not read the book now that you have a free link.....there is no helping...

a few tips for improving finances.

was spending $15 a day, over $100 per week on veggie takeaways,cut back to

around $40 per week, saving $60 per week. saving $3000 per year.



i try now to buy food in whole form[unprocessed],rice,fruit,vegetables,coconut oil,tea,coffee,oats, unheated honey,no tinned food/packaged food at all. i have reduced supermarket shopping from everyday to once/twice per week. this reduces amout of chocolate i buy.

having watched Bear Grylls i try to eat food in natural form as possible,this can

save plenty. example eat oats with water instead of processed cereal with milk.



hookers,was spending around.... per year, now spending.... saving around $3000 per year.

have turned gas hot water system down to low,no long showers anymore.

i try and reduce amount of kms i travel in car.

still broke but they did'nt follow thru with eviction notice for unpaid rent.

The richest man in town is he whose needs are least.

I think Kiyosaki's best book is "The Cashflow Quadrant".

Napoleon Hill's book is titled "THINK and Grow Rich", not "WORK and Grow Rich". That doesn't mean you don't have to work to grow rich.

The hardest work in the world is thinking and that is why so few people do it.

George S. Clason, "The Richest Man in Babylon", the Success Secrets of the Ancients. Just as relevant today as they were then.

The four ingredients of success in life:- Dedication, Determination, Discipline and the RIGHT Attitude. Many sub headings under those main headings.

Real Estate is like SEX. You should get as much of it as you possibly can while you are still young.

Ever heard of the Pyramid of Life, sometimes called the "1, 4, 5, 40, 50 Rule". Statistically of every 100 people born, 65 years later, One is Rich, Four are Independant, Five are still Working, Forty are Dead and Fifty are Dead Broke.

Check the figures on the Aust. Bur. Stats. site. You will find they are correct.
Where will you be at age 65??

We have identified the enemy and they is us.

Don't forget to bag the bad breath and stripy shirts.

Have downloaded the book (ta for the link) and am planning on buying out france and getting full swing production of Ozzy classic white and sparkling whites into the Frog Champagne district.

Points taken on dedication/evaluation/modification etc. Not my strong suits but better to develop them than a taste for cat food later in life.

Might have to make time for the occasional tata show tho.

Paradox said...

Diver said...

I thought this thread was about poking fun at the cheese eating surrender monkeys, not financial advice.

Actually it is about the french wanting to stop working as early as they can get away with and then be supported by those that remain in the workforce through taxes supporting pensions. Probably the same ones rioting that also riot about increased taxes...

Those that have saved/invested enough to support thier retirement don't give a rats when the retirement age is....and are not a burden on society. That is the direction of the thread.

That said - I do like sticking it to the french.

Finally!

Don't we all want to stop working as early as possible so we can have our time to do with as we please?

I would also venture to suggest that the problem with an early retirement age lies not with the retirees but with the govenment(s) who have failed to plan for the future. We all know how governments are incapable of thinking beyond the election and piss away money which, if wisely invested, could see everyone look forward to a rosy future.

So we get to suffer for their cock ups whilst the average politician sits with its bum in the butter!

Fark them all, guillotine the lot and the money lenders to boot!

japie said...

Paradox said...

Diver said...

I thought this thread was about poking fun at the cheese eating surrender monkeys, not financial advice.

Actually it is about the french wanting to stop working as early as they can get away with and then be supported by those that remain in the workforce through taxes supporting pensions. Probably the same ones rioting that also riot about increased taxes...

Those that have saved/invested enough to support thier retirement don't give a rats when the retirement age is....and are not a burden on society. That is the direction of the thread.

That said - I do like sticking it to the french.

Finally!

Don't we all want to stop working as early as possible so we can have our time to do with as we please?

I would also venture to suggest that the problem with an early retirement age lies not with the retirees but with the govenment(s) who have failed to plan for the future. We all know how governments are incapable of thinking beyond the election and piss away money which, if wisely invested, could see everyone look forward to a rosy future.

So we get to suffer for their cock ups whilst the average politician sits with its bum in the butter!

Fark them all, guillotine the lot and the money lenders to boot!

I think you've failed to understand what paradox has said - ie your retirement is YOUR responsibility (to paraphrase). Leave the pollies out of it.

My super goes into a company fund run by the trustees, japie. If I don't like that fund, I'm entitled to move my money to another fund. No pollies involved.

BTW mine did lose a truckload during the GFC. My wife's fund (which happens to be a union run one) didn't lose a zac from what I saw. Didn't make much, but at least it didn't lose any!

Anyway, still no pollies involved.

doggie said...

petermac33 said...
hookers,was spending around.... per year, now spending.... saving around $3000 per year.

Must cost you a fortune in tin foil tho

Are we talking hats or something fetishy?