Tuesday, January 26, 2010

Remember When I Said...

In a prior blog post, I listed my Do Not Buy List of products typically sold by broker/dealers and their registered representatives, but sometimes sold by unscrupulous investment advisors and non-registered people purporting to be investment advisors. The main reason that they sell these is because they typically pay large up front commssions in the 8 to 10% range of the initial investment.

With this article, you will receive a bonus education regarding investments on my Do Not Buy List. Two of the investments on my Do Not Buy List, both Promissory Notes and Private Placements are mentioned in the article. See this link for the sad story:


Once again, I have been proven correct that these so called "investments" belong squarely on my Do Not Buy List. By the way, do not buy means do not buy ever!

One of these days, people may actually save themselves the misery and listen to what I have to say.

Friday, January 22, 2010

Same Old Song

The Democratic party received a stunning wake up call this week when Scott Brown won election to the U.S. Senate. However, I am dismayed that we are hearing the same old song. When Democrats do not like something, they vilify it. They disparage it. They throw insults. Those who do not follow their liberal agenda are attacked over and over again.

Today's speech by the President fit the Democratic playbook to a "T." He attacked the big banks as those who caused the problem. He is going after them to make sure that we will not have the "too big to fail" problem again. On the surface this sounds fair, but if you peel back the onion a little, then you will find that it is superficial.

What I mean is...if the government doesn't step in and prop up the banks the next time they do something "stupid," as the President put it, then market forces will solve the problem.

Do not get me wrong. I am not a big fan of Wall Street firms. However, there is plenty of blame to go around here. This is exactly what the Democrats like to do, play the blame game, instead of accept responsibility for their own actions. The Democrats are the ones who passed the legislation forcing banks to accept mortgages from people who could not afford them. Somehow, they have skirted responsibility for that major snafu.

I truly believe that the Democrats are now attacking the big banks, because it deflects criticism away from themselves. They know that most Americans do not have a very high opinion of Wall Street banks. Therefore, in their effort to try and shore up support for the Democratic Party, they trot out the same old song. Make someone or some group your enemy, then attack, vilify and disparage them.

If I could give some political advice to the people advising the Democrats, then I would simply say...

"It is jobs and the economy stupid."

Thursday, January 7, 2010

Remember When I Said...

Another round of investors have unfortunately fallen victim to the Promissory Note scam which I previously listed in my Do Not Buy List in a prior Blog post. Here is the article from Investment News:


Remember when I said, promissory notes are just like Ponzi schemes. Low and behold, guess what? The guys stand accused of selling promissory notes that turned out to be . . . a Ponzi scheme! Didn't I say this recently?

Proof positive of two things. Promissory notes are Ponzi schemes and never doubt what I say is true. Keep Your Assets. Take My Advice.