Welcome to my video presentation for Friday, June 4. My article below provides greater details.
Today, I’m stepping back from the daily ups and downs of the financial markets to address reader emails, on a range of investment topics.
You have questions; I have answers. Let’s get started. I’ve edited these letters for the sake of concision and clarity.
From Ponzi to Madoff…
I begin with this email from a reader:
“You asked if we had personal tales to share about financial scams that affected us. The answer (in my case) is a resounding YES! And very similar to the Madoff debacle.
In 2016, as my daughter was preparing to go to college, we signed up with a consultant to explore her options for scholarships. This consultant recommended his own solution: an ultra-safe, can’t-lose investment in real estate. We followed his solution, to the tune of $250K. For about a year, the interest payments arrived on time and in the amount advertised….