 The Wild Wild World of Wealth |  |
Today, I’d like to introduce Dennis Sheehan, the author of Purchased Power. You’ll be fascinated by his revelations about mortgage securities. And if that’s not enough intrigue, make sure to check out his bio. Dennis has a fascinating background. I think you’ll enjoy what he has to say, right here on Acrimoney.
Preet Bharara, the U.S. Attorney for the Southern District of New York, summed it up best, “When people frantically begin shredding sensitive documents and deleting computer files and smashing flash drives and chasing garbage trucks at 2 a.m., its not because they have been operating legitimately.
Prosecutors says that Morris told Haley that he had come across an “exclusive investment opportunity” started by the owner of the Houston Astros. The fund was closed to new investors and was claimed to have generated 20% monthly returns for the preceding 8 years. Conveniently, Morris called Haley several days later and said one of the investors had died creating an opening.
Have you ever wanted to kick somebody’s ass? No I don’t mean the Sisters of Charity to the left. Check out Brian Mahany’s latest post. You won’t believe the story he unearthed on a government website.
Acrimoney ran a post last October about reloading—that’s hitting the same Ponzi victim twice. Now with some Madoff victims losing the spread between a twenty and fifty cents recovery, I wonder if we’re seeing more of the same. Is it savvy investing or is there a functional equivalent of expert networks in the Ponzi world?
Everyone wants to be in on the ground floor of a hot new technology. “If only I had purchased Apple stock or Google when they were first offered” has been muttered around office water coolers and local athletic clubs millions of times. We think that by being in at the ground floor of something big we can make millions. We can, if the company is legitimate and the technology or product truly revolutionary. But what if . . .
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