Eddie Hobbs fund losses in the US

Clanrickard

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Detroit: Eddie Hobbs-founded fund forfeits scores of houses

We all know Eddie. Eddie is a talking head who is regularly wagging the finger at his various targets. Eddie had a fund called Brendan Investments Pan European Property. According to the link...........

The fund raised almost €13 million from Irish small investors at the end of the boom, and initially invested in Germany before moving into the risky Detroit abandoned homes market in 2012. The Irish Times recently revealed that angry investors have been told by Bipep they are likely to lose 90 per cent of their cash.
Eddie resigned from managing it two years ago and will lose nearly all of what he put in. Initially investments were in Germnay but they moved to Detroit and by all accounts the investment properties were not all they were cracked up to be.........

Judicial foreclosure hearings will take place in Detroit next month, after which the houses will likely be sold to repay the debts. Many of the homes are in highly-deprived areas on streets scarred with abandoned homes.

Previous seizure lists, published annually, also show large numbers of Bipep/Artesian’s homes that were seized
Funnily enough there was no comment in the piece from the normally verbose Hobbs. Will this affect his media appearances? Will he still be some kind of guru asked about matters to do with the economy? Making a complete @rse of yourself did not affect Brendan Burgess https://www.youtube.com/watch?v=z2q7bBVAo74&app=desktop so I have no doubt will be soon treated to some Hobbsian wisdom in the near future on RTE or Tabloid 3.
 


Sister Mercedes

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He raised money at the bottom of the housing crash, and still managed to lose money. Even the PS tweedledum and tweedledee running Nama didn't manage that.
 

mr_anderson

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He raised money at the bottom of the housing crash, and still managed to lose money. Even the PS tweedledum and tweedledee running Nama didn't manage that.

It actually takes genuine talent to accomplish that.
Give that man a reality TV show. :p
 

hammer

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He was getting a nice salary / fee income from that Company all the same.

Oooooooooooo the way he used to preach to the lesser mortals.
 

hammer

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Any news on Bill Cullen ?

For some reason I always associate the two of them together.

They always seemed to have the answers for what the rest of us were doing wrong.
 

Analyzer

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Has Eddie considered politics yet ?

It is full of teachers who gave up teaching, solicitors who were going nowhere, publicans who could not make it in a country where people are indoctrinated to think Arters Scutter is not in any way connected to health problems, etc...
 

Analyzer

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Any news on Bill Cullen ?

For some reason I always associate the two of them together.

They always seemed to have the answers for what the rest of us were doing wrong.
Were it not for Bill's maFFia history, he would the next to show up in Trump Tower.
 

Notachipanoaktree

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Detroit: Eddie Hobbs-founded fund forfeits scores of houses

We all know Eddie. Eddie is a talking head who is regularly wagging the finger at his various targets. Eddie had a fund called Brendan Investments Pan European Property. According to the link...........



Eddie resigned from managing it two years ago and will lose nearly all of what he put in. Initially investments were in Germnay but they moved to Detroit and by all accounts the investment properties were not all they were cracked up to be.........



Funnily enough there was no comment in the piece from the normally verbose Hobbs. Will this affect his media appearances? Will he still be some kind of guru asked about matters to do with the economy? Making a complete @rse of yourself did not affect Brendan Burgess https://www.youtube.com/watch?v=z2q7bBVAo74&app=desktop so I have no doubt will be soon treated to some Hobbsian wisdom in the near future on RTE or Tabloid 3.
The cute self deceiving talkers from the south,
Who look to the east for a sign.
 

firefly123

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Pissyknickers and Eddie's other socks will be on soon to defend him.
 

sadcitizen

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Come on, they bought the rundown houses in Detroit ghettos?

I remember seeing all them on sale for a euro and thinking "How could you go wrong! You'll probably never use it due to the 10s to 100s of thousands of back taxes on each owed to the city and the fact that it's a crack house, but at least you'll always be able to say you were an Irish home owner who'd paid off his mortgage!".

I guess you can go wrong if you spend your entire investment fund in a city which has been in decline since the 50s and is literally bankrupt?
 

hammer

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You have got to be a little sorry for all the investors that backed the scheme.

How did another media performer Constantine Gurdiev get on with his alternative investments when he tied up with Declan Ganly was it ?
 

Wagmore

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Detroit: Eddie Hobbs-founded fund forfeits scores of houses

We all know Eddie. Eddie is a talking head who is regularly wagging the finger at his various targets. Eddie had a fund called Brendan Investments Pan European Property. According to the link...........



Eddie resigned from managing it two years ago and will lose nearly all of what he put in. Initially investments were in Germnay but they moved to Detroit and by all accounts the investment properties were not all they were cracked up to be.........



Funnily enough there was no comment in the piece from the normally verbose Hobbs. Will this affect his media appearances? Will he still be some kind of guru asked about matters to do with the economy? Making a complete @rse of yourself did not affect Brendan Burgess https://www.youtube.com/watch?v=z2q7bBVAo74&app=desktop so I have no doubt will be soon treated to some Hobbsian wisdom in the near future on RTE or Tabloid 3.
How has that Burgess bozo not been retired?"We'll look back and wonder why we didn't fill our boots with those bank shares?!!!!!!"Great find-imagine if you'd listened to the plonker-and Dobbo playing along like another muttonhead
 

Notachipanoaktree

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You have got to be a little sorry for all the investors that backed the scheme.

How did another media performer Constantine Gurdiev get on with his alternative investments when he tied up with Declan Ganly was it ?
No! Don't. That's capitalism. Back the monkey at your own risk.
 

Casablanca

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If we cast our minds back to 09/10, the "celebrity financial expert" industry was at its prime (in contrast to the real economy, which had just crashed).

Every radio/tv/ newspaper one would engage with had Hobbs/Jill Kirby/Somerville/McCarthy/Gudiev/McWilliams/Keenan and several others I can't remember.

Now, it's experts on American Politics and Social Housing.

It seems punditry, like politics and economics, is cyclical
 

JCR

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He raised money at the bottom of the housing crash, and still managed to lose money. Even the PS tweedledum and tweedledee running Nama didn't manage that.
No he didn't. He bought into this project during the boom having done his rip off Republic series for RTE. So he was trusted. So he became the face of an Irish "property business" i.e. con job. Sums up Ireland at the time.

I'm not sure people have wised up much all the same.
 

PeaceGoalie

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Come on, they bought the rundown houses in Detroit ghettos?

I remember seeing all them on sale for a euro and thinking "How could you go wrong! You'll probably never use it due to the 10s to 100s of thousands of back taxes on each owed to the city and the fact that it's a crack house, but at least you'll always be able to say you were an Irish home owner who'd paid off his mortgage!".

I guess you can go wrong if you spend your entire investment fund in a city which has been in decline since the 50s and is literally bankrupt?
All property markets are local. Dublin is different from Arklow, form Limerick, form NY, Chicago, LA and Detroit. Places liek Detroit would only make sense if you were Korean and had an Uzi and a lot of like minded Korean pals.

You have got to be a little sorry for all the investors that backed the scheme.

How did another media performer Constantine Gurdiev get on with his alternative investments when he tied up with Declan Ganly was it ?
Indeed. More so as the media built up clowns like Hobbs.

If we cast our minds back to 09/10, the "celebrity financial expert" industry was at its prime (in contrast to the real economy, which had just crashed).

Every radio/tv/ newspaper one would engage with had Hobbs/Jill Kirby/Somerville/McCarthy/Gudiev/McWilliams/Keenan and several others I can't remember.

Now, it's experts on American Politics and Social Housing.

It seems punditry, like politics and economics, is cyclical
Spoofing sells.
 

statsman

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If we cast our minds back to 09/10, the "celebrity financial expert" industry was at its prime (in contrast to the real economy, which had just crashed).

Every radio/tv/ newspaper one would engage with had Hobbs/Jill Kirby/Somerville/McCarthy/Gudiev/McWilliams/Keenan and several others I can't remember.

Now, it's experts on American Politics and Social Housing.

It seems punditry, like politics and economics, is cyclical
I'm waiting for poetry to come back around.
 


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