Tuesday, September 27, 2005

Don't be an idiot

Would you invest $100,000 in an investment firm that you found on the Internet? "Of course not!" you say, "Do you think I'm an idiot?"

Well, we would never call our clients names or make disparaging remarks about them, after all, we're all human. However, we've had a number of clients who did this very thing.

Usually, they'll invest a couple of thousand with some legitimate-looking online investment site. (Remember, for a few bucks anyone can have a web-site professionally designed that will look as real as Charles Schwab.) In a couple of months the company might send them four thousand. What a return!

Now that they've taken the bait, they'll invest $100,000, hoping to make a quarter-million. By the time they contact the company and ask for their earnings, the con artists are long gone.

Believe it or not, this happens all the time. We've been successful in tracking down these con artists and turning the case over to the FBI, but usually the money is long gone.

So, before you do such a foolish thing, AT LEAST Google the name of the company. In several cases, had our client done that they would have found all sorts of adverse reports about the firm that they wanted to give their money too.

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