Ponzi schemes shut down.

[Jack Peterson]

You just can't fix STUPID

My Wife has just told me that a Consortium Of 4 members of her Companies Staff + families Have invested? over 1.25 million pesos in this latest Scam and Today they have found out from the DTI/ SEC that their original stake is not there.  What can I say But YOU CAN"T FIX STUPID

[sonjack2847]

10 hours ago, Jack Peterson said:

What can I say But YOU CAN"T FIX STUPID

Greed is the word you are looking for.

[nor cal mike]

1 hour ago, sonjack2847 said:

Greed is the word you are looking for.

I’m not sure that greed or stupidity completely describes what I see in lots of the victims of these scams. The level of naïveté and unsophistication is mind boggling. I think most of those who are victimized have absolutely no idea of what 30% return means and what is necessary to achieve and maintain that level of return. I think it’s more like buying a lottery ticket to most.

We notice that the couple of people who tried to borrow money have said that they got their money back but immediately change the subject and I think they are ashamed to admit they were scammed as they were warned and tried anyway. Sadly they will become victims again and I guess this is where the greed or especially the stupidity comes into play. This happens all over the world. 

“A fool and his money are soon parted”

[Jack Peterson]

12 minutes ago, nor cal mike said:

I think most of those who are victimized have absolutely no idea of what 30% return means and what is necessary to achieve and maintain that level of return.

 Whilst i am in no way blaming us (the foreigner) but at times we don't help. In that I mean that when we are called Rich and we reply yes maybe but we worked hard and Saved or Invested so we could have the good Life. I tend to think that that in some ways relates to them that Investing is the way to go ( and it should be) But as you quite rightly say, many just do not understand what we were getting at so it is no wonder that when they read or are told a 30% return they  Ah that will do for me Not realising that there is only one winner and it will not be them. I am surprised by many stories ( or maybe not) when we live in a country that is renowned for Scams ( and not just here of course) That some just never listen and learn. Only when it is too late   Having said that, there are many, that will do it again and lose again But................................... 

[Dave Hounddriver]

58 minutes ago, nor cal mike said:

I think most of those who are victimized have absolutely no idea of what 30% return means and what is necessary to achieve and maintain that level of return

I am one of those foreigners.  I have maintained 30% annual returns buying Greyhound shares on the Canadian stock market in the 80s so I know it is not unrealistic.  I have also lost 30% in the stock market in 2008.  It is NOT unachievable.  I also lost in Philippine ponzi schemes 10 years ago.  Some of them are well thought out and convincing.  So much so that when I tried to tell a room full of 30 foreigners not to invest in one (in 2012) I was shouted down by the other 29 as being extremely negative and that if I did not want to be a part of it I should just leave.  I did.  Years later there was only ONE of those foreigners who had the balls to tell me that I was right and they all lost their shirt.  

[Jack Peterson]

11 minutes ago, Dave Hounddriver said:

Years later there was only ONE of those foreigners who had the balls to tell me that I was right and they all lost their shirt.  

 Our Dave will always tell you how it is, with Truth Me? after the recent stories I have heard will just leave this Here; 

  

 

[nor cal mike]

I was not educated about investment strategy but quickly learned the hard way that the number one concern should NOT be “return on investment” instead it should be “return of investment” 

[hk blues]

The thing that should ring alarm bells is why would someone share a sure fire investment with a  bunch of strangers rather than keep it all for themselves or their families/friends?

 

 

 

[Old55]

18 hours ago, Dave Hounddriver said:

I am one of those foreigners.  I have maintained 30% annual returns buying Greyhound shares on the Canadian stock market in the 80s so I know it is not unrealistic.  I have also lost 30% in the stock market in 2008.  It is NOT unachievable.  I also lost in Philippine ponzi schemes 10 years ago.  Some of them are well thought out and convincing.  So much so that when I tried to tell a room full of 30 foreigners not to invest in one (in 2012) I was shouted down by the other 29 as being extremely negative and that if I did not want to be a part of it I should just leave.  I did.  Years later there was only ONE of those foreigners who had the balls to tell me that I was right and they all lost their shirt.  

I remember this taking place and the one individual who was primping it the most. You’re right Dave they all were totally convinced of the soundness of those rural banks.

[Dave Hounddriver]

6 hours ago, hk blues said:

The thing that should ring alarm bells is why would someone share a sure fire investment with a  bunch of strangers rather than keep it all for themselves or their families/friends?

It is done on the stock market every single day.

Initial public offering (IPO) or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors