Richard Crenian Blogs
February 25, 2009
“Of Scammers and Funds” a Blog by Richard Crenian
Great article the other day in the Toronto Star. It stated that Investors want their money back.
They gave their Investment Advisors their retirement monies and those monies went inot mutual funds, and have lost a good portion of their retirement funds (30%) and are considering suing them.
So let me think, you gave your “Investment Advisor” money with the knowledge that it was going into a mutual fund (what I call lay your bet down and hope that you will win) and now since it has gone down you want your money back.
(I feel the same way as there was a lot of pressure to put money in mutual funds and those that have, have since suffered)
The problem is that we didn’t know that the stock market was filled with scammers, promoters who were there to grab your money without any conscience. It was hard to resist in those heady days. (What, only last year?) Then you find out about the Madoffs and the Stanfords (Allen Stanford who calls himself a Texas Billionaire) who ripped off the public for $50 Billion and $8 Billion respectively.
Oh well if you want high returns there are risks, risks that the guys you are dealing with are rip off artists……
Me and Howard, we sweat the small stuff, invest in cash flow proven real estate, and enjoy the slow and steady growth. At least those investments are safe.
I phoned Howard in Tucson yesterday and told him it was snowing in Calgary, and he laughed. Said he didn’t see any snow on the ground in Tucson. Phone him and bug him please, 403 630 4533. He likes to know that he is missed!