OK - so, what is next:
Gene's Rule 2: If you can't explain how my investment is supposed to make money for me in two minutes or less, I'm not interested.
Fraud schemes generally have one thing in common - the fraudster has a long explanation as to how the money will be made. If I invest in a stock or bond, it's pretty simple to explain how I am making money. If I invest in a factory, then I invest in a factory. If I lend money to someone, it is clear what is my rate of return.
Fraud schemes, however, usually have some harebrained or zigzag or outright loony explanation ("I have a formula for playing the market that no one else knows") that is a dead giveaway. And, the time it takes to explain these moneymaking "ideas" usually runs at least 10 minutes, if not more.
In my book, you have two minutes to explain it to me. More than that, something is up.
More on this later.
Gene's Rule 2: If you can't explain how my investment is supposed to make money for me in two minutes or less, I'm not interested.
Fraud schemes generally have one thing in common - the fraudster has a long explanation as to how the money will be made. If I invest in a stock or bond, it's pretty simple to explain how I am making money. If I invest in a factory, then I invest in a factory. If I lend money to someone, it is clear what is my rate of return.
Fraud schemes, however, usually have some harebrained or zigzag or outright loony explanation ("I have a formula for playing the market that no one else knows") that is a dead giveaway. And, the time it takes to explain these moneymaking "ideas" usually runs at least 10 minutes, if not more.
In my book, you have two minutes to explain it to me. More than that, something is up.
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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