Miami vs NCAA Hearings Day 2

[AsylumGodfather]

can't wait to hear Nevin's response when we only lose like 9 schollies after all his effort to destroy us.

This!!

 

[Boston_Cane]

@DapperSlapper... "Due diligence is not usually how ponzi schemers get caught. It is usually the inability to get new money to feed the scheme. If a scheme is successful, then it is performing and due diligence will yield nothing of note."[/QUOTE]

That's not true. Outside analysts had been calling out Madoff's hedge fund as a ponzi scheme since at least the late 90's having uncovered massive irregularities while performing due diligence. An analyst for an options house tasked with modeling Madoff's investment strategies alerted the Boston office of the SEC in the year 2000 that Madoff's profits were impossible. Five years later, the analyst submitted a 17 page report to the SEC detailing the inconsistencies entitled, "The World's Largest Hedge Fund is a Fraud."
Now keep in mind that Madoff had been chairman of NASDAQ and his firm was a broker-dealer, making it somewhat easier for him to cover his tracks, and yet his fraud couldn't hold up to professional scrutiny. Shapiro on the other hand was running his scheme through a produce distribution business that was promising to return 10-26% profits PER MONTH!

 

[cane305]

can't wait to hear Nevin's response when we only lose like 9 schollies after all his effort to destroy us.

 

[Boston_Cane]

Have you looked into these Ponzi schemes and seen how they operate? They start you with smaller investments, and show you solid return on them until they reel you in. You receive nice checks for a while...it actually seems very legit. Its not until you get in deep and are hooked with good return until the checks stop coming. Hindsight is 20/20 in your eyes here homey. You have no idea. A lot of very very intelligent people have been duped in these schemes.

I get how they work, but they're not sophisticated is all I've been saying. Intelligent people can get duped by a scheme like this, but it's because the greed gets in the way of their intelligence. You have to admit, nobody with any "street smarts" would fall for this.

Not true at all.......
You could fall for it regardless, you really don't get much of an inkling of something shady going on til after they already got your money. You could have gotten a referral from someone you trusted and never fully did as much research as you would have liked after the thought.

Would you have fallen for it?

Depends on how I was brought in/introduced to the whole situation. I do know a person that fell victim to a ponzi schemd, he was the last person you would label as not having "street smarts". There are a so many variables at play there. Just stop fronting...........

With respect, I don't ******* front. I try to supplement people's understandably limited knowledge of complicated things.

 

[eliteproxy]

I get how they work, but they're not sophisticated is all I've been saying. Intelligent people can get duped by a scheme like this, but it's because the greed gets in the way of their intelligence. You have to admit, nobody with any "street smarts" would fall for this.

Not true at all.......
You could fall for it regardless, you really don't get much of an inkling of something shady going on til after they already got your money. You could have gotten a referral from someone you trusted and never fully did as much research as you would have liked after the thought.

Would you have fallen for it?

Depends on how I was brought in/introduced to the whole situation. I do know a person that fell victim to a ponzi schemd, he was the last person you would label as not having "street smarts". There are a so many variables at play there. Just stop fronting...........

With respect, I don't ****ing front. I try to supplement people's understandably limited knowledge of complicated things.

ANY investor that believes in 20-30% returns allows his greed to overshadow his intelligence.