polksalet Posted December 19, 2008 Share Posted December 19, 2008 http://clusterstock.alleyinsider.com/2008/...sed-client-list Quote Link to comment Share on other sites More sharing options...
The Holy Roller Posted December 19, 2008 Share Posted December 19, 2008 "...as for the whiney-ass former rich, see you at work Monday. Grab a broom and clean up a little before I get in..." The comments section is quite enlightening. Quote Link to comment Share on other sites More sharing options...
DemonKnight Posted December 19, 2008 Share Posted December 19, 2008 Right below that one was a great saying I've never heard. When the tide goes out you get to see who's peeing in the ocean. Anyone know where I can find a good write up on exactly what this guy did? I've heard the term Ponzi Scheme before but dont know what it is. Quote Link to comment Share on other sites More sharing options...
BiggieFries Posted December 19, 2008 Share Posted December 19, 2008 Right below that one was a great saying I've never heard. Anyone know where I can find a good write up on exactly what this guy did? I've heard the term Ponzi Scheme before but dont know what it is. Ponzi Scheme (Wikipedia) Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted December 19, 2008 Share Posted December 19, 2008 i always find it interesting the glee of the have-nots when those that have get burned or hurt. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted December 19, 2008 Share Posted December 19, 2008 Right below that one was a great saying I've never heard. Anyone know where I can find a good write up on exactly what this guy did? I've heard the term Ponzi Scheme before but dont know what it is. you basically use new investors money to pay out those that have been invested for sometime. Quote Link to comment Share on other sites More sharing options...
DemonKnight Posted December 19, 2008 Share Posted December 19, 2008 Ponzi Scheme (Wikipedia) OKay. but how does this make Bernie any money? Just skimming off the top? Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted December 19, 2008 Share Posted December 19, 2008 (edited) OKay. but how does this make Bernie any money? Just skimming off the top? could be. most ponzi schemes dont start off as such. usually they are viable businesses that for some reason have a problem and cant meet a pay out or redemption. to cover their tracks they must attract new money to pay out those that are expecting money back. thus the cycle starts and before ya know it, your in over your head. been invested in one, not fun. Edited December 19, 2008 by dmarc117 Quote Link to comment Share on other sites More sharing options...
TimC Posted December 19, 2008 Share Posted December 19, 2008 "...as for the whiney-ass former rich, see you at work Monday. Grab a broom and clean up a little before I get in..." The comments section is quite enlightening. They had a lady of some magazine on the news last night that lost everything that had to ride the subway to work for the first time ever. She had always taken taxis or town cars. Sucks to be you, little rich lady. Anyone promising a steady 10-12% return (especially nowadays) is a criminal. Quote Link to comment Share on other sites More sharing options...
MrTed46 Posted December 19, 2008 Share Posted December 19, 2008 OKay. but how does this make Bernie any money? Just skimming off the top? More like taking whatever he wants...when the new $ > old money he can take alot (good economy). When new $ stops coming in and needs to pay out old $, jail time. Quote Link to comment Share on other sites More sharing options...
westvirginia Posted December 19, 2008 Share Posted December 19, 2008 you basically use new investors money to pay out those that have been invested for sometime. Kinda like socialist security. But I guess it's OK when the government does it... Quote Link to comment Share on other sites More sharing options...
BLIND HOMER Posted December 19, 2008 Share Posted December 19, 2008 Kinda like socialist security. But I guess it's OK when the government does it... Quote Link to comment Share on other sites More sharing options...
muck Posted December 19, 2008 Share Posted December 19, 2008 Anyone promising a steady 10-12% return (especially nowadays) is a criminal. Promise? Yes. Criminal. Regardless of promise / guaranty. Target? Not at all. I target that sort of return (actually, I target 8-16%), and while there is a chance I won't hit 8% this year, it should be close. Many investors are making money this year, but, then again, these types of investments are not predicated on the stock market going up. ... I feel like a broken record ... I've been telling the tailgate for years to diversify into investments that may not do as well in a big up year but should do ok in bad years ... to really REALLY diversify ... For example, I could do a new investment RIGHT NOW that would, under nearly every possible scenario, generate a minimum of an 8% / yr return to investors for the next two to three years. But, I can promise you that it is not a function of hoping that Obama builds a road, or that GE goes up, or, or, or ... Basically, as long as the financial system is solvent and no nuclear weapon is dropped on the middle of Ohio, we should make decent money. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted December 19, 2008 Share Posted December 19, 2008 Promise? Yes. Criminal. Regardless of promise / guaranty. Target? Not at all. I target that sort of return (actually, I target 8-16%), and while there is a chance I won't hit 8% this year, it should be close. Many investors are making money this year, but, then again, these types of investments are not predicated on the stock market going up. ... I feel like a broken record ... I've been telling the tailgate for years to diversify into investments that may not do as well in a big up year but should do ok in bad years ... to really REALLY diversify ... For example, I could do a new investment RIGHT NOW that would, under nearly every possible scenario, generate a minimum of an 8% / yr return to investors for the next two to three years. But, I can promise you that it is not a function of hoping that Obama builds a road, or that GE goes up, or, or, or ... Basically, as long as the financial system is solvent and no nuclear weapon is dropped on the middle of Ohio, we should make decent money. A buddy of mine spent 2007 learning about the market from books. He started his own hedge fund this July and is doing great. One of his transactions involved putting in three grand and overnight (literally overnight) it made $50k. I have no idea how it all works but in effect he's running a betting shop. Quote Link to comment Share on other sites More sharing options...
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