Is Casey Serin a Performance Artist?

Posted on December 28, 2006
Filed Under Real Estate Investing |

Off and on over the last few weeks I’ve read some of the posts and comments on Casey’s site. To be honest, the comments are often better than the posts themselves. I’m not sure who I feel more pity for on there. On one had there is Casey who on the surface appears to be inept and clueless and on the other hand are all the shrill comments from people trying to ‘help’ him.

Personally, I think Casey is playing with them and taunting them to keep them coming back. Recently, Casey was banned by Google’s adsense program. So, you’d think that his motivation to keep the comments coming would diminish but I suspect he is looking at other monetizing options. Or he could just see it as cheap entertainment

Or

Casey might be inept and clueless.

When I read some of the comments I wonder if they really have a life. They moan about Casey not taking their advice and not doing anything to make his situation better. It is comical to then see Casey comment about the haters who post comments there. Then reading other sites about Casey it is apparent that Casey is selective in the comments he allows on the site. That is of course his right and that just means you have to follow the links to the other sites to get the whole story.

Casey’s plight should serve as an example to others. The gurus who claim it is easy are not telling the whole story. By all indications Casey did exactly what so many of the gurus teach and it backfired in a spectacular fashion.

So, the real question is why don’t we see more Caseys out there?

I think there are a few reasons.

First, there probably aren’t that many people who fail to recognize the amount of risk involved and progress at a slower pace. They get themselves into trouble but it is still at a point where they can recover. So, their own fear acts like a regulator to prevent total catastrophic disaster.

Second, those who did go full bore like Casey did, recognized their plight earlier in the process and dumped the properties before the market bubble started to deflate.

Third, some people actually made money doing what Casey did, liar loans and all! The market was hot, Casey’s biggest problem was he didn’t understand the fundamentals that drive the market and therefore didn’t see the train wreck as it approached.

But, that seems to be Casey’s problem over-all. He doesn’t understand the fundamentals and therefore doesn’t fully comprehend the situation around him. He probably sees himself more as a spectator than a participant.

So, to answer my question in the title, I don’t think he is a performance artist. I think he is fairly clueless but taking advantage of a once in a lifetime opportunity before him. Sadly for him, I doubt he will be able to capitalize on it long term.

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