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Author: 2gifts Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 8740  
Subject: Re: secured promidary notes Date: 4/13/2014 2:26 PM
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Recommendations: 26
Interest rate 12%.

Seems high to me given today's low interest rates, so if that is a true rate, and I am highly doubtful that it is, then there must be significant risk with it to be able to get that much reward. That's a warning sign, and I'd steer clear.

This adviser would explain the "way it works" in a two to three hour session at 150.00 an hour.

So he's going to charge you $300 to $450 just so he can explain it to you? What kind of salesman - and let's face it, that's what this guy is - charges his customers a fee so that he can make his pitch to convince them to buy his product? That's another warning sign, and I'd steer clear.

He claims he is given the opportunity to look at these pretty high up the food chain. If he looks it over he says he must jump on it quickly (which makes sense).

And now we have the "it's such a great deal that it is only good today, so don't miss out" approach. If it's a good deal today, it will be a good deal tomorrow, and you should have time to think it over and decide if it makes sense to you. This is yet another warning sign (and they are getting bigger and brighter as we go along), and I'd steer clear.

He has no strikes against him in the 30 or so years he has been doing this. He only has 10-12 clients. He has another passion that he follows.

And you know about his stellar record how? Let me guess - he told you himself! And if he has so few, select clients, why is he suddenly interested in you? Yet another warning sign. I'd be running for the hills by now.

He seems to be quite bright and effective in what he does. A trusted friend knows him personally and he generates for him an average of 30% on average year over year in stocks. He did not think that sort of an aggressive portfolio would fit for the 53 year old who is asking these questions. He was open for anything but thought this was the best approach for the given circumstances.

Oh, this guy has con artist written all over him in big, bold, neon letters. This sounds way too good to be true, has all kinds of red flags, and he seems to just be looking for a way to part you from your hard-earned money.

Run. Run far and fast, and do not look back.

There is nothing here but a fast way to lose your shirt. If you want to invest your money, get educated yourself and make your own decisions. You can learn a lot right here on the boards, but I certainly wouldn't give this guy one red cent.
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