- Thread starter sunlover721
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Wealth Manager in DR
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lol.. people aren't even really saying all Dominicans are thieves.. they are saying we are all "vivo" .. which, if you are Dominican, you can kinda admit to.. I guess "vivo" is most easily translated to astute, ready, always prepared.. that is, when we go into business dealings, we will do anything to make sure we don't lose, and if need be, we make sure others lose to guarantee our victory.. this is how Dominican business works.. no ifs ands or buts..
There is no Dominican "money manager" that I know well enough to recommend to others...Then again, there is no Dominican money manager that I know well enough to recommend AGAINST...I simply don't deal with them.
I agree with you that portfolio-type (a-la Wall Street) investments are not common in the DR, and that most Dominicans prefer more traditional (and safer) investments such as real estate for rental, land for cattle or agriculture, land/real estate for renegotiation, etc. As far as "money investment" the one that is relatively wide-spread from middle-class and up is the CD.
I do have significant investments in the DR...they are as described above...For CD's I recommend Banco Leon and Banco del Progreso, simply because I know (not at the personal level) the families behind them, and know they are not only very wealthy (the Leons, and the Vicinis for example) but also very reputable. I trust them much more than I would a nondescript "gringo" bank (I do deal with the Scotia Bank).
Th Banco del Progreso provides excellent examples of both Dominicans who are crooks, and Dominicans who are VERY honest. The Banco was in fact defrauded by a former executive, a real Dominican crook (of course they exist). When the Vicinis and other senior share-holders realised what was going on, and that a substantial amount of money (almost US$200M) was more or less "missing", rather than trying to get the state (that is the Dominican tax-payer) to pick up the tab, they took full responsibility for the problem (although they were in fact innocent) and chipped in to provide the bank all the missing funds, without the bank clients or the Dominican taxpayers losing one single cent (only they, the Vicinis and partners lost any money)... There are Dominican crooks for sure...There are also very honest Dominicans...The Vicinis are in the latter group, and proved it with actions and their money. I Trust them with my money for sure....
You have a MASSIVE REASONING problem...And until you address this extremely damaging handicap you will LOSE a lot of MONEY, and who knows what else... Frankly, I don't know that your problem is even fixable...I'd recommend you to try a course in something called LOGIC....give it a try, but don't pay to much for it...it may not help in your case.
Of course there ARE Dominicans who have a character problem...There are also Canadians with a character problem...there are also USA-ers with a character problem...why on earth are there so many laws, and policemen and JAILS in the US and Canada, and elsewhere? It is because of all the Canadians and USA-ers who have character problems...is it not? If not why, then?
Your story about the TWO (2) Dominican lawyers who have defrauded you may be true..The problem is that your FAULTY BRAIN won't let you process it correctly....The only thing your putrid brain processes is their nationality...you won't look passed that...What you should be asking is WHAT TYPE of lawyers they are? Did they work for a REPUTABLE law firm, or did you choose them simply because they were nearby or worse, they were the cheapest guys on town? Were their REFERENCES good? Did you check them?
Of course there are Dominican lawyers who are crooks... There are also unethical Dominican RE agents... The solution is not to bad-mouth and insult ALL Dominican lawyers/RE agents (because 2 of them cheated you), and much less ALL Dominicans...You have no right to do that...COMMON SENSE should tell you that...The solution is to CHOOSE CAREFULLY, and deal with lawyers and RE agents who have strong REPUTATION that you can verify... same for loaning money...only loan to those with a STRONG credit profile (Dominicans or not)...All that is COMMON SENSE.
So, do you actually expect that the long list of victims of Madoff's 65 BILLION ponzi scheme will get their money back?
And most importantly, if the SEC is so good, HOW ON EARTH do they allow a fraud to reach the SIXTY-FIVE-BILLION level? Apparently it got that big, because it went on for DECADES...where the heck was the SEC during those DECADES?
And how did the Feds ever allow the ENRON problem to get that big, before they FINALLY acted? And what about the worldcom mess, and the HUMONGOUS mortgage mess? And ALL THE OTHERS?
Lots of people have lost ton of money on the above and similar cases...and many others have lost money simply as taxpayers who end up paying for the mess when the feds decide to 'bail out' financial institutions that have been defrauded.
you are the moron here, Dominicaus. what is with you and this idiotic 'credit profile" horsesh*t? in the USA, when my friends ask me to lend them 100 bucks, do you think i ask them for their credit score? similarly, when i need a few bucks, do you think they want collateral? NO. they know i am going to pay them back, just as i know they will pay me. i do not do some demographic analysis, and request a copy of their family trees. they are my friends, or close acquaintances, and we have a code of ethics. you borrow, you repay. that is how we live. it might boil your blood, and, quite frankly, i could care less. Dominicans whom i have met are yet to be acquainted with the revolutionary concept of repaying loans. why don't you do an inquiry of all the foreigners in this site, asking how many of them would lend a Dominican money. if the response is favorable to your cause, then you can lambaste me some more. i am not a sporting man, but i am willing to place a wager that the preponderant majority of foreigners would not lend a Dominican money. now go cry in your beer, if you feel that offended.
GENERAL RULES FOR DEALING IN THE DOMINICAN REPUBLIC:
1. Every Dominican knows everything about everything by age 14.
2. A Dominican is NEVER wrong.
3. Hence; never expect to change his/her thinking.
4. A Dominican will never say they are sorry.
5. A Dominican will not give you a direct and straight answer when questioned.
6. Dominicans' don't lie... they just don't admit to the truth.
7. All Dominicans are are your friend and will get you the best deal and watch your back. Ya.
I've been here a long time. And reading posts from our Dominican friends on DR1 proves most of the above true.
So where DO YOU LIVE ... Sayanora and Dominicanas? Orlando Florida? I don't think that either of you live full time in the D.R.
here is the reality, Dominicass. i am a Bronx boy. i associate with a lot of people from very humble circumstances. i do not hobnob with the Bronx equivalents of the Vicinis, and the Brugals. i deal with guys who drive schoolbuses, who are NYPD officers, and, generally speaking, the entire spectrum of humanity. my friends can come to me for a loan, anytime, as long as i have spare funds. i tell them when i need it back, and they comply. when the time comes to pay, they do not give me seven hundred reasons why they do not have my scratch. they do not tell me that their mothers are sick, their kids are sick, the dog is sick, their grandfather fell off his passola. THEY PAY ME. and all that without me having to put a copy of their credit report in my strongbox.
my friend, you hit all the nails on the head. Dominicass apparently has never met a Dominican. firstly, all Dominicans i have met know more about everything than every body else. they are born with the knowledge gene. my German friend got into a protracted argument about the weather in Germany, and the Dominican has never been on a plane in his life. they are NEVER wrong. like you, i have a long association with this country, and its people. they have some wonderful qualities. enjoy those virtues, but bear in mind that there is such a thing as a deficit of ethics here. i do not care who is offended, as long as i am not lying.
hey, Ringo, here is one more. if you are looking to buy a car, and your Dominican friend tells you that he knows someone selling one for 300,000 pesos, you can rest assured that the seller's price is 250,000, and your "friend' is going to pocket the difference. he can get you an apartment for 10,000 per month. sure. it is really 8.000, and every month he goes to the landlord for his 2 grand. am i lying?
In the Know
I know ex pats who live long term in the DR and have a business.
Many of them rent and keep their money in offshore accounts.
No matter how much we like the DR and its people, we know that the structure and stability will not equal that of well managed countries in our lifetime.
Anyone with a modicum of intelligence is well aware of the implications of living here,and we knowingly take our chances and hope for the best.
I know ex pats who live long term in the DR and have a business.
Many of them rent and keep their money in offshore accounts.
No matter how much we like the DR and its people, we know that the structure and stability will not equal that of well managed countries in our lifetime.
Anyone with a modicum of intelligence is well aware of the implications of living here,and we knowingly take our chances and hope for the best.
The Midas Touch
You best know your business and the correct time to get in and out.
If not, a lot of your gold will be gone!
The market moves very quickly, hope you don't miss the boat.
Several of the Kings Midas did not fare to well in Greek Mythology.
Beware!
Best are lovers who shower you with gifts of gold and diamonds and rubies.
Useless to post here since I would never invest a dollar with any wealth management firm anywhere, much less the DR, gold has been my wealth management, got in at 1200 a few years ago and I'm a happy camper now
You best know your business and the correct time to get in and out.
If not, a lot of your gold will be gone!
The market moves very quickly, hope you don't miss the boat.
Several of the Kings Midas did not fare to well in Greek Mythology.
Beware!
Best are lovers who shower you with gifts of gold and diamonds and rubies.
1. Every Dominican knows everything about everything by age 14.
2. A Dominican is NEVER wrong.
3. Hence; never expect to change his/her thinking.
4. A Dominican will never say they are sorry.
5. A Dominican will not give you a direct and straight answer when questioned.
6. Dominicans' don't lie... they just don't admit to the truth.
7. All Dominicans are are your friend and will get you the best deal and watch your back. Ya.
Change "Dominican" for "African", "Russian", "Chines", "Palestinians", "Jews", and yes, even "American" and nobody would be any wiser.
Gentlemen, generalizations such as these was what brought the Final Solution, the Armenian massacres by the Turks, Trujillo's massacre of Haitians in 1937, and countless other horrors. Please treat people as individuals ---good or bad, based on what they have done. Do not label them just on the basis of their nationality.
As a Dominican, I find this kind of post very offensive.
2. A Dominican is NEVER wrong.
3. Hence; never expect to change his/her thinking.
4. A Dominican will never say they are sorry.
5. A Dominican will not give you a direct and straight answer when questioned.
6. Dominicans' don't lie... they just don't admit to the truth.
7. All Dominicans are are your friend and will get you the best deal and watch your back. Ya.
Change "Dominican" for "African", "Russian", "Chines", "Palestinians", "Jews", and yes, even "American" and nobody would be any wiser.
Gentlemen, generalizations such as these was what brought the Final Solution, the Armenian massacres by the Turks, Trujillo's massacre of Haitians in 1937, and countless other horrors. Please treat people as individuals ---good or bad, based on what they have done. Do not label them just on the basis of their nationality.
As a Dominican, I find this kind of post very offensive.
Are you truly saying that a foreigner lamenting the lack of scruples he's experienced in his dealings with Dominicans(I've heard similar complaints from numerous Dominicans) is tantamount to inciting physical harm, or even genocide?
Yes, I know. I don't agree unequivocally with Ringo's post but I understand the pervasive dishonesty in Dominican culture that inspired it. My question was if Mr. Guzm?n-Ariza was really characterizing the rant as tantamount to promoting harm or genocide against Dominicans.
1. Every kid at 14 thinks he knows everything.
2. The only Dominican I've met that is never wrong is my wife, but that's not a Dominican trait.
3. That's not true, good grief.
4. Oh brother, really???
5. Hem-hawing isn't restricted to Dominicans.
6. Good grief.
7. Not every Dominican is good, but there are enough around.
I wonder why I've had a such a different experiences than other DR1'ers out there? Hmmmm.
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