To my readers - you probably figured out by now I am on hiatus. I am afraid this hiatus will be longer than expected - I have some more work to do on our Firm website. I hope to get back to blogging at some point in the near future.
Friday, August 29, 2014
Sunday, August 10, 2014
Apologies from the blogger
To the readers of this blog:
My apologies for the hiatus in posting. Unfortunately, work duties have prevented me from posting. I will be resuming regular blogging next week.
You may return to your regular programming!
My apologies for the hiatus in posting. Unfortunately, work duties have prevented me from posting. I will be resuming regular blogging next week.
You may return to your regular programming!
Sunday, July 27, 2014
The Richest Man in Babylon 10
To my readers - I am sorry for the delay in posting. Things have been very busy and sometimes this blog gets overlooked. I enjoy writing for the blog and I don't like to miss posts.
At the last post, we discussed the very positive benefits of small investments at first. This is a good philosophy for several reasons, but one of the best reasons is that: (1) it helps to invest slowly to check out an investment at first and (2) if an investment goes south, then all of your savings will not be lost.
However, as we discussed on this thread before, a common thread among experienced fraudsters is to get a person "hooked" by making certain that small investors will get good returns so as to entice these small investors to invest more. This is an old trick. The real question, therefore, is how to avoid this kind of scam?
At the last post, we discussed the very positive benefits of small investments at first. This is a good philosophy for several reasons, but one of the best reasons is that: (1) it helps to invest slowly to check out an investment at first and (2) if an investment goes south, then all of your savings will not be lost.
However, as we discussed on this thread before, a common thread among experienced fraudsters is to get a person "hooked" by making certain that small investors will get good returns so as to entice these small investors to invest more. This is an old trick. The real question, therefore, is how to avoid this kind of scam?
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.
NOTE: ANY INDIVIDUAL WHO HAS NOT PLED GUILTY TO A CRIME OR
WHO HAS NOT BEEN FOUND GUILTY BY A JUDGE OR JURY IS INNOCENT UNTIL PROVEN GUILTY
AS PER THE LAWS OF THE UNITED STATES OF AMERICA.
----------à>>>>>>>>>>>>>>>gene
tausk
Sunday, July 20, 2014
The Richest Man in Babylon 9
OK - getting back to Johnson's admonition to "guard thy treasure against loss." Johnson's advice is on investing and, as discussed previously, Johnson advises to invest money in small sums at first before risking larger investments.
As an attorney who investigates and defends people from fraud, I can only state that this is the most sound advice in investing I have ever heard. Victims of fraud generally invest most if not all of their money into an investment scheme. This is the greatest problem with fraud victims - they tend to lose everything (or most of it) in these schemes. The loss of any monies is problematic but when an entire life's savings is gone, the tragedy is even deeper.
Investing in a small way at first is not a complete guarantee that a fraud will not happen, but it is a good start. Of course, there is always the old story that a fraudster will entice a small investment at first and then work into a larger one, which is often the case.
But, this is a story for the next post.
As an attorney who investigates and defends people from fraud, I can only state that this is the most sound advice in investing I have ever heard. Victims of fraud generally invest most if not all of their money into an investment scheme. This is the greatest problem with fraud victims - they tend to lose everything (or most of it) in these schemes. The loss of any monies is problematic but when an entire life's savings is gone, the tragedy is even deeper.
Investing in a small way at first is not a complete guarantee that a fraud will not happen, but it is a good start. Of course, there is always the old story that a fraudster will entice a small investment at first and then work into a larger one, which is often the case.
But, this is a story for the next post.
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.
NOTE: ANY INDIVIDUAL WHO HAS NOT PLED GUILTY TO A CRIME OR
WHO HAS NOT BEEN FOUND GUILTY BY A JUDGE OR JURY IS INNOCENT UNTIL PROVEN GUILTY
AS PER THE LAWS OF THE UNITED STATES OF AMERICA.
----------à>>>>>>>>>>>>>>>gene
tausk
Thursday, July 17, 2014
The Richest Man in Babylon 8
OK - let's move onto the next chapter in George Clayton Johnson's classic. His advice for wealth building, after "starting they purse to fattening" (i.e. investing money) is: "Guard thy Treasure from Loss."
If you remember in our last post, we discussed how the investment part of Johnson's instructions is the part where fraudsters can get the best of you. After all, fraudsters and white collar criminals are always offering "investment schemes" to individuals. It is in the next chapter, however, where Johnson tells us how to avoid such scams. His advice begins with the first sentence of this chapter:
If you remember in our last post, we discussed how the investment part of Johnson's instructions is the part where fraudsters can get the best of you. After all, fraudsters and white collar criminals are always offering "investment schemes" to individuals. It is in the next chapter, however, where Johnson tells us how to avoid such scams. His advice begins with the first sentence of this chapter:
"Misfortune loves a shining mark. Gold in a man's purse must be guarded with firmness, else it
be lost. Thus it is wise that we must first secure small amounts and learn to protect them before the
Gods entrust us with larger."
Clayton advises us to learn how to invest small amounts first before risking large investments.
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.
NOTE: ANY INDIVIDUAL WHO HAS NOT PLED GUILTY TO A CRIME OR
WHO HAS NOT BEEN FOUND GUILTY BY A JUDGE OR JURY IS INNOCENT UNTIL PROVEN GUILTY
AS PER THE LAWS OF THE UNITED STATES OF AMERICA.
----------à>>>>>>>>>>>>>>>gene
tausk
Monday, July 14, 2014
The Richest Man in Babylon 7
So - we are advised to make our gold multiply - in other words, to invest our monies, not just to let the monies sit around and do nothing. As we stated earlier, this is a double-edged sword. Yes, we want to invest our savings into some sort of profitable enterprise or something that will make our money work for us. If we don't, then our savings will get eaten up by inflation or, at the very least, will stagnate in value.
But, the double-edged sword is that it is through investments that the con artists and fraudsters come calling. We want to invest our money but we don't want to be a victim of fraud.
In this chapter on investments, George Clayton, the author of "The Richest Man in Babylon" tells us to invest so the earnings are reasonable. He is not telling us to invest in some scheme that promises a big payoff or a huge rate of return. It is only through reasonable investments that work in the long term that real money is made.
Just by following this advice alone, most pitches of con artists would reach deaf ears.
But, the double-edged sword is that it is through investments that the con artists and fraudsters come calling. We want to invest our money but we don't want to be a victim of fraud.
In this chapter on investments, George Clayton, the author of "The Richest Man in Babylon" tells us to invest so the earnings are reasonable. He is not telling us to invest in some scheme that promises a big payoff or a huge rate of return. It is only through reasonable investments that work in the long term that real money is made.
Just by following this advice alone, most pitches of con artists would reach deaf ears.
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.
NOTE: ANY INDIVIDUAL WHO HAS NOT PLED GUILTY TO A CRIME OR
WHO HAS NOT BEEN FOUND GUILTY BY A JUDGE OR JURY IS INNOCENT UNTIL PROVEN GUILTY
AS PER THE LAWS OF THE UNITED STATES OF AMERICA.
----------à>>>>>>>>>>>>>>>gene
tausk
Thursday, July 10, 2014
The Richest Man in Babylon 6
OK - so moving on to the next "remedy" for being poor. The third hint to keep acquiring wealth is to "make your gold multiply." In other words, invest your money (or more specifically, your savings). Don't spend your savings and don't leave it around not doing anything (a/k/a leaving it in your mattress). If you money "works" for you, then you eventually can retire.
This is the real sticking point when it comes to fraud. Any decent financial advisor will, of course, advise you to invest your money. That is the entire point of earning money in the first place - to put it to good use so eventually you can work less (or retire completely). Unfortunately, it is the desire to invest money that attracts con artists.
This is the real sticking point when it comes to fraud. Any decent financial advisor will, of course, advise you to invest your money. That is the entire point of earning money in the first place - to put it to good use so eventually you can work less (or retire completely). Unfortunately, it is the desire to invest money that attracts con artists.
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.
NOTE: ANY INDIVIDUAL WHO HAS NOT PLED GUILTY TO A CRIME OR
WHO HAS NOT BEEN FOUND GUILTY BY A JUDGE OR JURY IS INNOCENT UNTIL PROVEN GUILTY
AS PER THE LAWS OF THE UNITED STATES OF AMERICA.
----------à>>>>>>>>>>>>>>>gene
tausk
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