EPI letter (anyone in EK worried?)

[critical winge]

Hi, after the lastest letter to members in the EPI syndicate, is anyone else worried about the money they invested with EPI? It looks like the fund might be over-leveraged and the letter is a "we have done great in the past so don't worry about the present situation scenario and lets concentrate on the future".

I have my concerns, I have my doubts and I would just like to guage any other investors thoughts on this sell to EK pilots by our EK pilot friend investment manager. ( I know it was my silly fault to get into this in the first place).

Any fund that won't return your money for no profit must have problems, any fund that won't return your money for the same investment must have real problems. Any fund that won't return your money for a requested 80% return of the initial investment is in real trouble????

Thoughts from other investor's most welcome (please refrain from the I told you so replies - as I said, yes it was my fault to invest and I can't get my cash out which I seriously regret!!).

[kennedy]

Alwys thought the scheme smelt like a ponzi, thankfully never invested!

[KRUGERFLAP]

LOL,at least the Manager is enjoying a great life,thanks to you guys!:ugh:

The best investment in UAE is no investment.Keep ur money with u.

[Wizofoz]

cw,

EPI have been quite open about the fact that, post GCC, they are SEVERLEY over leveraged as the value of assets is down, while the leveraging rules from the banks have changed considerably.

I'm in Oceania and it has been absolutely no secret that the entire investment amount was in jepordey, and has been for over a year. Be thankful you are a limited partner, and your liability only extends as far as your initial investment.

As for this:-

Any fund that won't return your money for no profit must have problems, any fund that won't return your money for the same investment must have real problems. Any fund that won't return your money for a requested 80% return of the initial investment is in real trouble????


You're not IN a "Fund". You are a limited partner in a property investment. To suggest you should be simply be able to ask for your money back is like asking you wife to write you a cheque for your half of the house.

They are fulfilling their side of the Partnership Agreement. In the case of Oceania they are trying hard to salvage something from the wreckage, amd doing a pretty good job. I'm hoping to get my original investment back, with MAYBE a small return ( but I'm not holding my breath).

It was a high return investment with the asociated level of risk, and got hit but the biggest financial meltdown in history.

If we end up with nothing but our initial capital back, we've done better than a lot of investors!!

[halas]

Wiz mate,

"If we end up with nothing but our initial capital back, we've done better than a lot of investors!!"

Don't you mean gamblers?

halas

[Wizofoz]

halas,

What's the difference?:eek:

[Marooned]

One of the founding 'managers' has no problem boasting about his expensive properties and flash new Merc all of which would/should pay back some of the debt. Pity he didn't get to the bit about 'what to do when it goes horribly wrong' in his business for dummies and self motivational comics. :mad:

I doubt that the capital will ever be returned and any monies repaid will have significantly devalued to that of the original investment value.

I really do sympathize and like many of those who have created the economic mess we are in they should be held to account.

[a345xxx]

Once I sat in with a bunch of Fun Managers... woops i meant Fund Managers but by the end of the meeting I realized they were Fun Managers... Albeit having fun with other people's money and in this circus we are the clowns for trusting them with our money and then bailing them out with our money after they screwed up.

A perfect analogy would be we the pilots crash the AC then put the blame on the monkeys in the san diego zoo and the public accept it lock, stock and barrel.

My money stayed in my pocket from that day on.....

[harry the cod]

Isn't something similar happening to 'Property Concepts', another investment scheme set up buy two EK pilots?

Spoke to someone recently who said the whole things gone tits up and the guys have lost everything, capital as well! :\ Still, what do you expect when these cowboys offer 30% returns. If it sounds too good to be true...........

Harry

[ZQN]

I'm worried. :( no I'm pissed :mad: