2 ms·
If you've had friends involved or lost to Ponzi, HYIP, or MLM, as soon as you see "investment club" and the guy in a gaudy cheap suit, with logos like these? Yo
by ev1 5y ago
If you've had friends involved or lost to Ponzi, HYIP, or MLM, as soon as you see "investment club" and the guy in a gaudy cheap suit, with logos like these? You know. It's a nearly-reflexive gut feeling.
- meken 5y agoAh, that might explain my ignorance. I’ve never heard the term “investment club” before today. I just assumed it’s legit.
- ev1 5y agoThere are legitimate investment clubs, intended to spread risk or do a larger group buy or similar, but the legitimate ones are almost 100% chance not containing showboating arsewaffles that make fun of poor people and telling them that's why they're still poor if they can't come up with the money to give to a scammer. The meetings are often much less boring and procedural, or otherwise it's teenagers learning finance with small amounts being held by a non-minor trustee. Think of it as the difference between a group of people with a formal contract and meetings for investment splitting in a conference room vs https://www.youtube.com/watch?v=lCcwn6bGUtU https://www.youtube.com/watch?v=lCcwn6bGUtU It's extremely obvious which category this article's meeting falls into once you know about those two categories. I've had a bunch of friends fall into the MLM world (which will keep telling you it's not a pyramid scheme), and every single presentation or meeting they've ever seen, talked about, or been to has either been mindnumbingly cringe and unprofessionally fraudulent slides with false income numbers (upline-held ones) or cult-like scam screaming and money worship (corporate ones).