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sad - I'm sure there are thousands of Aunt Frida's out there that lost it all. Tar and feathering is too good for some of these bankers and politicians!
It has all happened before, but under different names, Tulip bulb craze, Ponzi schemes, river boat schemes, Gold Bug Scams, Oil -Gas - Real Estate Partnerships, Tech stocks in 1999..... It all comes down to goals, time horizon, needed rate of return and most importantly RISK tolerance/awareness. If something sounds to good to be true....it usually is. Common sense = Any investment that pays more than 3 - 4% per year = (which is the current rate on 5 - 10 year Treasuries or 1 - 2 yr rate on CD's) has some degree of risk -
The higher the potential return over "the risk free rate" ,the higher the potential loss.
10% for 6 months or 20% annualized explained as safe or even believed to be safe ??? -
that is an oxymoron - like a a great inexpensive lawyer!!!
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Michael D. Holloway
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Last edited by M.D. Holloway; 10-22-2008 at 01:36 PM..
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