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Don’t Get Taken In By This Persuasive Investment Scam!


The Today Show on NBC featured a piece this morning about how some “investment advisors” are pitching annuities to older people as a “liquid investment.” This article isn’t about the fact that they aren’t liquid. Instead, this piece is about a well-thought-out scam that you might fall for and then lose a lot of money. This post was inspired by an authentic experience that made me realize how defenseless and trusting (and dumb) some individuals can be and how long one specific scam has been going strong. The Interesting Info about Cryptocurrency crime investigation.

The “sales technique” (in quotes because I don’t want to call it what it is – a sneaky manipulation of information that can confuse even the most zealous investors) has been around for far longer than the time that I’ve been a licensed securities broker. Although stocks are the most suitable target for this con, they may be applied to any instrument whose value might rise or fall substantially over time.

Let me preface this explanation by adding that, despite being an active market investor for decades, I have gotten countless telephone solicitations using this method. I know very few securities sector people who would ever resort to such a tactic.

That’s a place to start, so take this advice to heart: be extremely cautious if you have never met the person trying to convince you to invest. Those who claim to be calling you from “Wall Street”t” with hot”stock tips likely work in a windowless boiler room (where most of them do) and have access to your name and number list.

If you’re goiyou’retrust someone with your money, at least have a face-to-face conversation with them before handing over the combination to your safe. What have you got to lose by meeting them for coffee? They’re prThey’regoing to pay.

Now that you’ve beeyou’veed (but will probably ignore) not to listen to a disembodied voice on the phone, here’s thehere’sand how it works:

You shouldn’t shouldn’tne’s wanyone’sanything, including mine, without first researching. This is true not just in the realm of money but also in the heart’s domain. There are moments when you “know” it’s” the” rit’s thing to do, and those times are excellent. When you “know” it’s” the” wit’s thing to do, though, and you keep doing it nonetheless, that’s whethat’sble starts.

1. Somebody calling themselves an “investment” advisor” chooses ” risky stock you have never heard of. Having 1,000 shares of XX rather than just ten shares of YY will add a lot of prestige to your portfolio without breaking the bank (by the way, the stock symbols I use are for illustrative purposes only). No attempt was made to recommend or discourage any particular investment.

2. He dials 200 numbers and tells them he has a “hot tip.” He’s not”He’s your money; he wants to impress you with how well he knows the stock market and how he can predict its future behavior. A typical line from him goes like this: “If it’s o” ay it’s you, I’ll checkI’llk now and then and give you some additional tips to prove that I know what I’m doing. I’m fair enough?”

3. He as “ures a hundred of them that XX will rise.

4. He predicts the destruction of XX to a hundred people.

5. If XX suddenly skyrockets, he’ll phone he’ll initial 100 investors to brag, “See, I too “d you XX was going to go through the roof!” We’ve been “nWe’vehing YY company, another stock we believe may see significant price movement shortly. I’ll let yI’llnow the next time we have a juicy lead.

6. Half of the 100 people he talks to believe YY’s stockYY’sce will rise, while the other half believe it will fall. The 100 people he told XX’s stockXX’sce would fall probably won’t hear him again unless something theatrical happens to XX and their stock price falls through the floor, in which case he’ll call he’ll exclaim, “I was rig”t again!”

7. Those” who received “the correct “vice” from YY “before his decision will receive a call from him to deliver the “I was rig”t again” pitch, while those who did not will receive a call from YY, but the latter may or may not be returned.

8. Twenty-five of the fifty will hear, “It will g” up.” At the same time, the” remaining twenty-five will listen to, “It will g” down.” He he’ll” conche’llby saying, “Have you “noticed that I’ve been I’vet on every one of these picks?” Now that”you have more faith in my talents, perhaps you will invest $1,000 in MM (which happens to be a stock for which they are highly compensated for their promotion). If not, keep an eye on it; otherwise, you’ll wisyou’lld workyou’dth me.

9. One day, an unwary investor will hear that this individual can choose stocks better than Warren Buffett and will entrust him with a sizable sum of money. Of course, the value of that investment may rise, but the only person this “investment” advisor” cares ab”ut is himself.

10. Either you’ll stayou’llning more than you’re losyou’re run out of money.

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