What is the worst investment you have made?

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What is the worst investment you have made?

Post by BlueCoverman on Thu Jan 31, 2013 3:32 am

Three years ago one of the young golfers at the club decided to turn Pro. I am sure all of us have at our clubs young golfers who are fantastic players and who we would like to think that someday could be a big success. This lad was no exception, with tremendous talent and playing off plus 2 he was head and shoulders above anyone else at the club.

Around 30 of us members decided to form an Investment Club to help finance his expenses on the EuroPro tour and his attempts at getting through Q school. Shares were priced at £34 per month and I purchased one and a half shares. The idea was that 50% of all prize money won would be returned to the investors. The club was to run for three years and at the end of that time it would be wound up and the pot of remaining money would be returned to the investors.

The three years has now passed and the winding up meeting is tonight. There are no funds remaining to distribute and what prize money won was retained in the account as expenditure exceeded income. My support has cost me nearly £2000. I never expected to make a profit from the investment club, I didn't even expect to get all of my money back, but I certainly didn't expect to lose it all and that is very disappointing. It just goes to show I guess, just how talented you really have to be to make a living at this game.

So come on, that's my confession, (and I can hear you all having a good laugh at my stupidity!) what is the worst investment that you have made, (golfing or otherwise!) or the best if you are feeling boastful!
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Re: What is the worst investment you have made?

Post by Davie on Thu Jan 31, 2013 6:31 am

I wouldn't laugh at your stupidity Blue - in fact I'd applaud you for sponsoring him - but I must admit if I had been in your position I wouldn't have expect much return unless you (and he) got VERY lucky

Good on ya for trying though!
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Re: What is the worst investment you have made?

Post by Doc on Thu Jan 31, 2013 10:26 pm

My worst investments have been in property. House 1 went to wife 1, house 2 went to wife 2 and house 3 is still with me, as well as wife 3 Sad

Nothing like being a 1st time buyer at 40 years old.

Blue what you did was fantastic and must have seemed a good idea at the time, so well done. But also a bit silly if I may say. I remember talking to my fitter a few years ago, who was also a member of a good club. He got plenty of business through the club as many members were using him, and he gave up some of his time free to the club teams, for tweaks and tips etc. One particular young lad seemed to be a rising star, and turned pro. The club helped him with arranging a bit of sponsorship through local businesses, but my mate the fitter kitted him out from top to bottom. He built him some top end forged irons, woods, hybrid and wedges as well as a putter. Everything was specced' perfectly for him including shafts. He even sorted him out with a tour bag with his name on etc, and got a couple of his suppliers to throw in balls, Oakley eye-wear etc. The lad said thanks and off he went, and made a video which went on You Tube showing his new gear and asking for more sponsorship. The kid is nowhere now, and hasn't even been back to the club or the fitter, and last heard of was trying to scrape a living playing the pro am circuits and opens around southern European holiday resorts.

It seems like; gone are the days when the up and coming pro, travelled in a transit van and slept in it with his mate the caddy. Earning scraps and trying to eat. Woosy did it with Wobbly for a long while, until he made the breakthrough, but he was always thankful for any help he recieved along the way. One of the reasons, even today that Woosy turns up at plenty of club events around the country.

Wonder what Mary has say on this subject, as her son is on the europro tour isn't he. Is Mary funding him, or has he started to earn his way?
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Re: What is the worst investment you have made?

Post by LondonJonnyO on Fri Feb 01, 2013 12:37 am

I bought Enron at 500USD.
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Re: What is the worst investment you have made?

Post by BlueCoverman on Fri Feb 01, 2013 12:53 am

Must have been a fair old commission at that price then...
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Re: What is the worst investment you have made?

Post by Mary_S on Fri Feb 01, 2013 4:32 pm

Blue - a shame that it didn't work out for the lad, but at least you gave him the chance to try and live the dream, instead of always having to wonder "what if".

Doc - it sounds as thought that lad was not very appreciative of the help he was given. That's a shame. as it will have made those involved wary of helping anybody else in the future.

My worst investment was (reluctantly) agreeing to sign over our family home to guarantee my husband's business loan. Fast forward 6 years - no business, no home and no husband. Getting back on the property ladder from a zero starting point, with a 13 year old son who had just discovered golf, was quite a challenge! But 4 years later, we were living under our own roof again, and Steve was in the England Boys squad, so I guess it sort of had a happy ending. Much credit for this goes to my parents, who allowed us to move in with them so that I could save up the deposit, and made it easier for me to return to full-time work by ensuring that Steve never came home to an empty house etc.

Doc - I did help Steve out with funding, up until about 5 years ago. If he'd gone to University I would have been paying towards his fees etc, so I just viewed it as an alternative way of helping him to (hopefully) launch his career. We are very lucky that his club and the members have always been supportive of him, helping out here and there along the way. Hopefully they consider this a good investment, as he gets quite a lot of local press coverage for the club, and they got a mention on TV when he played in The Open, and also in EuroPro, and a couple of European Tour events. Steve has always ploughed the majority of his winnings back into funding himself, and, when necessary has had Winter jobs such as shelf stacking at Tesco on the night shift, so that he could still practice in the afternoons. He's been picked up by a small Management Group (Red Golf), and they help with some funding, alongside dealing with all his tournament arrangements etc, so I can put my feet up now! Innocent





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Re: What is the worst investment you have made?

Post by Doc on Fri Feb 01, 2013 6:32 pm

Mary, sounds like Steve is well grounded young man and I hope he makes it to where he wants to go. By the way, is there any chance you fancy putting some cash into this great money making venture I'm involved in Innocent
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Re: What is the worst investment you have made?

Post by BlueCoverman on Fri Feb 01, 2013 11:17 pm

The meeting on Wednesday night went very well. I was pleased that there were no dissenting voices or complaints from the floor that the bank account was empty. The whole atmosphere was very relaxed and quite jovial.

Andy spoke to us at some length and he spoke very well. He thanked us and was very appreciative of the support that we had given him over the last three years. He looked lean and muscular, the result of much hard work with a new fitness coach. Andy advised that he still intends to pursue a career in golf and is confident that he has the ability and now the experience to push on to be successful. His stroke average improved last year as did his ranking on the EuroPro tour and this will open a few more doors for him.

He is on the look-out for new sponsors now that our arrangement has come to an end. He has a golf benefit day organised in March, which I will play in and support and I wish him all the best. Maybe one day when he is striding down the fairway at the British Open and I am watching from the other side of the ropes, I can think that I, in a very small way helped him get there!
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Re: What is the worst investment you have made?

Post by Mary_S on Sat Feb 02, 2013 2:25 am

Doc wrote:By the way, is there any chance you fancy putting some cash into this great money making venture I'm involved in Innocent

Are you touting for sponsorship to have a shot at the Seniors Tour?
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Re: What is the worst investment you have made?

Post by BlueCoverman on Sat Feb 02, 2013 3:53 am

My guess is he will soon be looking for wife number 4 if he disappears on to the Senior Tour Mary

(No offence Doc )
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Re: What is the worst investment you have made?

Post by Doc on Mon Feb 04, 2013 7:11 pm

Yes I'm so bloody good with clubs in my hand Sad Had a lesson yesterday as the last time I played (Weeks ago) I couldn't hit my driver or woods. The pro looked at me and laughed, which is always useful. He said just stand a bit closer to the ball, which I did and was creaming it again. Bloody annoying that because I've not been out for a while due to weather, you change your swing and set-up without knowing. I was reaching too far, causing a flat take away that put me off balance and a big out- to- in downswing. hate this game sometimes .... Smile
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Re: What is the worst investment you have made?

Post by Doc on Fri Feb 22, 2013 12:11 am

Investments mmm let me see. This could well be my annual subs as I seem to have missed out on playing the last 4-months
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