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22 August 2003

In Defence of Henry Kaye

Comment from seminar attendee

In defence of Henry Kaye, I would like to state my experience which goes back to June 2001.

My son and I attended Henry Kaye’s Investment Mastery seminars in Sydney. As we both attended we got a ‘deal’. We paid for 1½ seminars at a total cost of $13,000, paid over a period of two years.

I do not consider that this was a ‘snip’ by any means as neither my son or I are wealthy.

And neither of us went on to become rich either!

But I would like to tell you about what we did get for our money and what we got out of it. I have bought and sold many properties here and in UK and have got burnt on a few occasions – due to market forces rather than bad choices of property. My son had no experience of the property market.

The seminars themselves were held either at Kaye’s offices in Woolloomooloo, Darling Harbour Conference Centre and the State Theatre. We were well fed and watered at the Conference Centre. The whole thing was organized with precision. We were given ample printed information and work books and there were plenty of staff on hand to deal with any questions during break times. Seminars ran well over time. Kaye was never stingy with his time. One could argue that he likes the sound of his own voice, of course!
At the time we attended the seminars I could see what I thought of as danger signs in the market and Kaye obviously felt the same way. Rather than try and sweep it all under the carpet and pretend it wasn’t happening, which I felt certain he would do, we were invited to attend other seminars free of charge at the State Theatre with strategies to deal with any fall in the market.
I was rather amazed that, a) he was prepared to deal with this potential danger in a very up front way and, b) we were not being asked to pay out more money!

What did we get out of the seminars?

As stated previously we have not gone on to make large sums of money.

But I feel it gave my son some valuable tools to look at life differently, more confidently and positively. It was a very positive mother and son thing that we did together.

My husband and I have gone on to get an investment property but not by using any of Kaye’s strategies. But it did make me much more confident about what I was doing. I felt totally in control when organizing a mortgage and talking to the different people one deals with. I feel I have a good grasp of the property market and property investments. It gave me the confidence to make the move that we have made. Because of some very negative experiences with property in the past I would not have taken the steps we have taken to improve our future retirement prospects.

More importantly I would not fall for any of Kaye’s latest ploys. I think he started off well but got carried away by GREED.

I have no complaints about what I got for my money even if it was somewhat overpriced. He delivered what he promised at that time. But I have no illusions about what he has become and I wish you good luck in helping to stamp on anyone who is ripping off the public.

Thanks for your message. I can’t help thinking that you could have had an equally good “mother and son thing” if you had spent $13,000 elsewhere.

I know a young man who is 20. He is an apprentice chef. He rents a flat and has two car loans. He had no cash. A few months ago, he got another loan for $15,000 to do the Henry course.

Is he pleased?

Well, put it this way, he is justifying the expense. When pressed about what it has done for him, he says it has encouraged him to be more careful with his money. Since he spent the $15,000 (which he is paying-off over four years), he has saved $2,500. He says he has never done this before and therefore, going to the Henry course inspired him to save.

I know another young man, who is also 20. When he was 14 he began to read Noel Whittaker’s books. This young man recently bought his first home in the Sydney suburb of Ryde. He knows more about money and life from spending a few hundred dollars on books, than the other fellow knows after spending $15,000 with Henry Kaye.

It reminds me of the business coaching fad, which is an outrageous expense. Pay someone thousands of dollars to tell you what you should be doing all along.

Neil Jenman

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