“Our clients learn to consistently generate 3 – 6% per month (Want Proof?) cash income from a stock portfolio, regardless of market direction. Our technique is so conservative it is approved for use in retirement accounts (IRA, 401k etc).”
The above was copied from a web site entitled Compound Stock Earnings. The company with this web site advertises their sales pitch on one hour weekly radio infomercials that are on 10 local stations in major cities across the United States and Canada.
Bernard L. Madoff the head of a securities firm that bears his name offered “…solid 12-13 percent year in, year out.” “Mr. Madoff seemed to have created a stainless persona of integrity and trust. From the start, in fact, a motto of his business captured this image of simplicity and directness: “The owner’s name is on the door.” This past Thursday this man was charged of cheating investors out of $50 billion. Among those impacted have been some high flying hedge funds such as Citadel Investment Group, some city and county retirement funds, HSBC, and many private investors that reportedly include Mort Zukerman, owner of US News and World Report.
Have these people and businesses not heard the expression ‘If something seems too good to be true, it isn’t true’? I know 5% is difficult to earn in these difficult times but there are investments that do honestly pay that return. I guess the rich really can be fooled.
Coast Contact 