EPI
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Joined: Nov 2003
Aviation Qualifications: ATP+Mil
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From: Terra Firma
EPI
Firstly "please" we all know never to let a pilot invest your money for you, so lets not let this thread turn into a "I told you so" thread. EPI did a good job in the past but post GFC things going a little somewhat sideways on the returns (understandably).
Just a question for those "partners' who have a share or 2, would you prefer to just get back the value of your current holding even at a loss or would you prefer to stay in the syndicate for years to come and get the same return as your initial investment? To me, if the current board plan is to return the initial investment in years to come then that's a loss to me as over time. The intial investments value might have halved in its original purchasing power with currency devaluations and increasing inflation during the course the fund was run.
To me it might seem that the fund/scheme is continuing to be run to pay the board/workforce a fair salary which is not transparent in the audits unless I missed that before? Also the letter mentioned that those running the scheme are not barred from having other job/interests? Surely running a $50mil fund needs to be a full time job?
If you have a share and read this, please answer with your wish to continue the scheme or if you would prefer (if you were able) to just take whatever your share value is worth now and leave the scheme?
Just a question for those "partners' who have a share or 2, would you prefer to just get back the value of your current holding even at a loss or would you prefer to stay in the syndicate for years to come and get the same return as your initial investment? To me, if the current board plan is to return the initial investment in years to come then that's a loss to me as over time. The intial investments value might have halved in its original purchasing power with currency devaluations and increasing inflation during the course the fund was run.
To me it might seem that the fund/scheme is continuing to be run to pay the board/workforce a fair salary which is not transparent in the audits unless I missed that before? Also the letter mentioned that those running the scheme are not barred from having other job/interests? Surely running a $50mil fund needs to be a full time job?
If you have a share and read this, please answer with your wish to continue the scheme or if you would prefer (if you were able) to just take whatever your share value is worth now and leave the scheme?
Joined: Jun 2001
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From: Boldly going where no split infinitive has gone before..
Jack,
Problem is, as far as I can tell, your current share value is zero. All money, plus substantial debt, is tied up in the Miami property.
There IS no money to withdraw until the scheme achieves some level of realization of assets.
At the end of the six years of the limited partner agreement, limited partners have some say in how the development is realized, and could probably vote to wind it up. This would probably be counter productive.
There's no question it will be a loss in terms of what the money could have been invested in, but hindsight is 20/20 and risk is what investment is all about.
I think considering it a write-off and being pleased if the result is anything else is probably the best you can do.
Problem is, as far as I can tell, your current share value is zero. All money, plus substantial debt, is tied up in the Miami property.
There IS no money to withdraw until the scheme achieves some level of realization of assets.
At the end of the six years of the limited partner agreement, limited partners have some say in how the development is realized, and could probably vote to wind it up. This would probably be counter productive.
There's no question it will be a loss in terms of what the money could have been invested in, but hindsight is 20/20 and risk is what investment is all about.
I think considering it a write-off and being pleased if the result is anything else is probably the best you can do.
Joined: Nov 2001
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PPrune or EPI for investment advice?
Jeez Jack, at least you can see & hear EPI - even if it's just to drink your coffee or imbibe at a SIDS/STARS night.
This is the wrong forum for advice other than to say - try calling EPI.
BTW. Before anyone shoots, I don't work for them in any capacity.
Jeez Jack, at least you can see & hear EPI - even if it's just to drink your coffee or imbibe at a SIDS/STARS night.
This is the wrong forum for advice other than to say - try calling EPI.
BTW. Before anyone shoots, I don't work for them in any capacity.
Thread Starter
Joined: Nov 2003
Aviation Qualifications: ATP+Mil
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From: Terra Firma
This is a PILOT rumour network (not an aviation rumour netwok). Considering the EPI is created/run by and mainly invested in by pilots I would say this is the correct forum. If there is an EPI forum on any other site I will gladly use that if you can point that link to me please.
Joined: Apr 2006
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From: In the seat
Some good points raised.
Did someone actually get some money in their hands from the initial investments or were you told that you earned an incredible return and therefore just wanted to re-invest it to get the same returns - similar to a scheme run by Bernie!
Money used for Dubai investments, has this been reinvested in Australia, if so were the shareholders in the syndicate ever consulted on this matter, if not then the fund should not be allowed to do what they did, that money should be invested in the property earmarked in the syndicate proposal.
I can sniff a legal case brewing?
Did someone actually get some money in their hands from the initial investments or were you told that you earned an incredible return and therefore just wanted to re-invest it to get the same returns - similar to a scheme run by Bernie!
Money used for Dubai investments, has this been reinvested in Australia, if so were the shareholders in the syndicate ever consulted on this matter, if not then the fund should not be allowed to do what they did, that money should be invested in the property earmarked in the syndicate proposal.
I can sniff a legal case brewing?
Thread Starter
Joined: Nov 2003
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From: Terra Firma
It might not be clear to some but the fund currently has equity and assets. All I would like to gauge is an opinion if investors would prefer to request to liquidate the EPI position now and receive a return of whatever each share would bring, or to continue with a management of non-transparent salary and a desire to continue the fund so as to try to achieve a return which ultimately will be probably less that you would get it the fun was wound up now?
Remember, pilots are notorious bad investors, I am just after some fund members sentiment that staying in the fund is financially the better thing to do OR NOT?
Remember, pilots are notorious bad investors, I am just after some fund members sentiment that staying in the fund is financially the better thing to do OR NOT?
Joined: Jun 2001
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From: Boldly going where no split infinitive has gone before..
Jack,
Yeah, but neither equity nor assets equals cash.
As I read it, the intention is, in the short term, to sell undeveloped plots in order to have some cash on hand to pay out those that want to exit- BUT they are under no obligation to do so until the end of the limited partner agreement.
Personally I'll asses it nearer to the time, and try and work out if I'm better off staying in or jumping ship, dependent upon how much I get if I leave vs how much I think I'll get if I stay.
Judging by my financial acumen to this point, my advice would be find out what I did, and do the opposite!!
Yeah, but neither equity nor assets equals cash.
As I read it, the intention is, in the short term, to sell undeveloped plots in order to have some cash on hand to pay out those that want to exit- BUT they are under no obligation to do so until the end of the limited partner agreement.
Personally I'll asses it nearer to the time, and try and work out if I'm better off staying in or jumping ship, dependent upon how much I get if I leave vs how much I think I'll get if I stay.
Judging by my financial acumen to this point, my advice would be find out what I did, and do the opposite!!
Joined: Jun 2001
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From: Boldly going where no split infinitive has gone before..
My but you're a loverly, friendly chap sittingidly!
BTW, once again, can you please direct me to where I've EVER made investment advice on this forum?
You see, you constantly say I have, but that would be because you are a serial blatant lier.
BTW, once again, can you please direct me to where I've EVER made investment advice on this forum?
You see, you constantly say I have, but that would be because you are a serial blatant lier.
Joined: Sep 2005
Posts: 871
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From: Post-Pit and Lovin' It.
Well, working from the "It takes one..." maxim, you're certainly qualified to make that judgement...not that I'm calling you a "lier" exactly, since I think you actually believe most of the stuff you say....
Joined: Jul 2001
Posts: 1,140
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From: Gulf playing Golf
I would have to agree with you on this one...Bitch fight between pilots! sad sad girls... I said... you said...she said... What the FCUK is wrong with you people!! go study for you upgrade and but your energy to something useful 
Joined: May 2007
Posts: 26
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From: Dubai - The City That Cares
Rumor has it a 'non-flying' principal of EPI has resigned from EK.
Suggest you pull your collective fingers out if you don't want him skipping out on you like NH of Property Concepts did
Suggest you pull your collective fingers out if you don't want him skipping out on you like NH of Property Concepts did
".....like spelling?!!
Joined: May 2011
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From: USA
Departing EPI principal is receiving 25 000 dhs a month LIPS. We are paying for this. He is not going to die but has non-threatening ailment that GCAA decided they wont give medical for him to continue as pilot.
Should we continue paying him 25 000 dhs on top of his Australian salary?
I say NO
Should we continue paying him 25 000 dhs on top of his Australian salary?
I say NO
Joined: Apr 2003
Posts: 1,034
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From: UAE
LIPS is a form of insurance and it is very specific about when it will and won't pay out. Sounds like this "departing principal" has lost his GCAA licence for medical reasons. That is what LIPS is designed to cover so I would hope he will get the money. It doesn't and shouldn't matter what he does after that, if he is working or wins the lottery. If he meets the requirements for a payout, give him the money.
Joined: Jun 2001
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From: Boldly going where no split infinitive has gone before..
Thrash,
LIPS has zero connection with EPI.
If he was a paid up member of LIPS and met the conditions to recieve the benefit, on what basis would that be denied, and what sort of precedent does it set if he were?
LIPS has zero connection with EPI.
If he was a paid up member of LIPS and met the conditions to recieve the benefit, on what basis would that be denied, and what sort of precedent does it set if he were?