MR-from-NG wrote:DT. wrote:MR-from-NG wrote:Paphitis wrote:MR-from-NG wrote:I had a friend who always told me "you're as wealthy as the amount you're able to borrow". He lived in best post codes, Ferraris, Bentleys the lot but somehow he'd always end up visiting me to borrow money. 10k at some visits, 20k at times. Always paid me back. He is now bankrupt and I'm waiting for the 16k I last lent him to be paid back.
I have always been scared to borrow and thank god always managed to fund whatever I fancied with my own hard earned cash.
My Koumbaro has a Ferrari. He is a bit of a play boy but he is wealthy too. His brother is well off but more grounded.
Only difference if my Koumbaro has never been in a position to need money from friends.
But we are regularly in a position to use our lines for materials and pay people. That’s what it’s there for. Our biggest problem is cashflow. It comes in spurts. We spend for months and after a year or many months at lest we get a pay day which goes back on our lines and then it’s at least many months, and sometimes over a year for the next influx. And so on and so on. He doesn’t even have a salary unless he decides to pay himself one which he is entitled to do. And again it could be from borrowings. That’s the nature of the beast.
He is still in a position to play though. He literally has a car collection. His brother is more down to earth. Same with me. He too is a partner. The 3 stooges. Plus Koumbaro’s son.
Good luck to you mate. I wasn't always good with money and in fact I'm ashamed to admit it now but between 1986 and 2006 I must have done a good 250k up my nose and a good 100k on champagne. Add to that my stupid gambling habits you're looking at a good 750k+ down the drain. I was such a cu*t back in them days. Hold on, I just remembered, add another 250k on flash cars you're looking at a cool fucking million. What an idiot I was
knew there was something I liked about you...
Man of many talents DT
My old man had a gambling habit. Mostly horses, however he liked the casino as well. In the latter parts of his life he controlled it significantly though. I reckon he got burnt badly. Some of the stories I heard about him after he got off the boat in Australia were mind boggling. But his best friends who got off the boat with him would also say you could never meet a better man than my Dad. I have no idea the amounts he lost.
But I do remember him warning me big time. I could tell it was experience talking. Him saying, “son, I’ve been there and I wish I hadn’t been there”.