A Conversation On Global Mutual

Well, here's a little chain of responses from a thread on Global Mutual here that I found interesting enough to share, without anyone's permission (though I'm pretty sure Tobor would be cool with it.)

Just thought I'd add I don't recommend anyone invest in GM or any of its associated properties of course. I do not remove them from my Investment Opportunities list however as I still consider them, to at least an extent, real 'investments' just poorly performing ones.

Board member Stealth asked this question, about Aussie Mutual, the Aussie arm of Global Mutual which is meant to be attempting to generate it profits.

"Aussie Mutual Pty Ltd does not hold an AFSL, meaning that AM is not licensed to offer financial products or financial product advice to investors in Australia.

To avoid any confusion ,I would suggest to confirm this officialy that a reputable member of this forum contact ASIC and publish their findings, because if this is the case just exactly what trading figures are you viewing ?"

And Tobor once again brought the juice with a thoughtful reply:

"I am sure that your info is correct. AM does the telephone canvassing and first "qualifying" steps of leads (prospective clients) and then hands those qualified leads over to another company that does hold an AFSL. If the "sale" goes through, ie the prospect uses the company to broker their mortgage, then AM gets a cut on the commission.

So the trading figures that I saw last time were the number of leads, where they were in the sales "pipeline", those that had already committed to taking out a mortgage which was in the process of settling and the deposits to AM bank account from those that had settled. The other figures that I saw was payments made by Gordon to members, a few of whom posted on this forum that they had actually received some money.

I am a business owner myself, have a university commerce degree and have a fair idea of what trading figures are worth looking at.

I should also add that I have several thousand dollars tied up in GMI. Like everyone else, I am peeved at what has happened with this program. But I have had the opportunity to go and look first hand and what I saw a month ago indicated that the business has actually turned the corner. I hope to be able to confirm that it has stayed on a profitable path.

As to script errors, site errors, etc, quite honestly, that can all be fixed later IF Gordon is making money at last. And if he is not making money, then none of it matters. And I don't think that you need worry too much about new investors being "conned". I don't think that there is much in the way of new investment happening. JMO."

In the next post I in that thread I use the word 'wanker,' because, you know, I'm cool.

By the way, I italicized one section because it is very very similar to my own situation with GM (monetarily) and my thoughts as well.