Comments on: Ever Heard of This Scam?

By: » Week In Review on Blueprint for Financial Prosperity

» Week In Review on Blueprint for Financial Prosperity — Sat, 20 May 2006 23:34:29 +0000

[...] JLP talks about a new scam he read about in a book he was reading. It basically involves a scammer getting a mailing list and sending one half of them a hot tip to sell. He/she then sends a tip to the other half to buy. With the half he’s right with, he does it again and again until they trust him enough to invest money with him. Then BAM! [...]

By: » From Other Blogs » Consumerism Commentary: A Blog About Personal Finance

Fri, 19 May 2006 19:59:06 +0000

[...] Here is what others in the MoneyBlogNetwork (and beyond) have been writing about this week. Free Money Finance says stop talking and start listening to do well in job interviews. JLP at AllFinancialMatters wonders if anyone has heard of this scam involving letters and stocks. Jim from Blueprint for Financial Prosperity points out that appliances with the ability to check online for up-to-the-minute energy prices save their owners money. [...]

By: Anonymous

Anonymous — Fri, 19 May 2006 19:15:54 +0000

I’m sure I’ve read a description of it before. It may have been in John Paulos’ book “A Mathematician Plays The Stock Market”, or possibly “Fooled By Randomness” by Nassim Nicholas Taleb. Both are good books whether on not they cover this.

By: Andrew

Andrew — Thu, 18 May 2006 21:51:34 +0000

I agree with staying away from those letters. I don’t recommend anyone invest with a person they heard about through a letter. You are probably setting yourself up for failure. Never heard of that scam before. Interesting.