Let's talk about the second rule for a minute - if the person can't explain something to me in two minutes or less (regarding an investment or a money-making idea), my skepticism radar immediately kicks in.
Most people can describe how they make their money in fairly simple terms such as:
1. I earn X amount per year from my job
2. I invested money in X bond or X stock or X investment portfolio or X mutual fund
3. I lent money to Uncle Bill who took it and started his auto repair shop. He is paying me back at 5% interest
4. I played the blackjack tables at Vegas and came out ahead.
You get the idea.
An excellent TV show to watch concerning fraud and con games is "American Greed" on CNBC. It is amazing to me as I watch this program how many people are taken in by schemes which require at least ten minutes to go over the basics, not to mention the time required for a more in-depth analysis.
More on this later.
Most people can describe how they make their money in fairly simple terms such as:
1. I earn X amount per year from my job
2. I invested money in X bond or X stock or X investment portfolio or X mutual fund
3. I lent money to Uncle Bill who took it and started his auto repair shop. He is paying me back at 5% interest
4. I played the blackjack tables at Vegas and came out ahead.
You get the idea.
An excellent TV show to watch concerning fraud and con games is "American Greed" on CNBC. It is amazing to me as I watch this program how many people are taken in by schemes which require at least ten minutes to go over the basics, not to mention the time required for a more in-depth analysis.
NOTE: THE INFORMATION IN THIS BLOG IS NOT LEGAL ADVICE NOR
IS IT INTENDED TO BE LEGAL ADVICE. IF
THE READER HAS ANY LEGAL QUESTIONS, PLEASE REFER TO AN ATTORNEY.
Have a great and fraud-free day.
----------à>>>>>>>>>>>>>>>gene
tausk
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