JUST LETTING YOU KNOW…
I got a call yesterday. The guy tells me that I have just won $750,000. I knew it was a scam, but I played along with. I acted like a dummy. It turns out that in order to collect my $750,000, I needed to go to a Western Union and send $595 to a guy in Boca Raton Florida. I played along with and I hung up. He called me back asked if had sent the money and I gave him two initials that are not Happy Birthday. He didn’t listen to me and I hung up.
If I had done it, it would have cost me $595. I would have lived. But it’s not just these people. There’s’ just so many crooks out there. They play on your needs or your greed. It is amazing that I got this call. I realized that they would not be making these calls if they were not successful. So there are actually people out there who are sending $595 to these crooks, and getting nothing in return.
So I want to make sure that you never get into that situation. Here is what you need to know:
- You’ll get the outrageous number guy. “I can guarantee you 30% a year.” “I can guarantee you 50% a year.” With these guys, you gotta think logic. If you can make 50% a year, why do you need to tell another person? With a bond market that yields 2% and a stock market that has no guarantee, that’s a lie. The other part of that equation is that it will always be in some funky business, like “We’re doing black market cigarettes. We’re buying them here and selling them there.” All kinds of wacky stuff. Where are these people? They’re in your churches. They’re in your temple. They prey on your religion and they don’t care. It does not matter if it’s your last dollar or if you’re a millionaire. They’ll take it.
- There’s the “Madoff Type” that’ll just guarantee you 12% a year. Consistent earnings. There’s no such animal as 12% a year without risk.
- The maniac stuff. The emails from Nigeria or some country you’ve never heard of. It says the king died and son as all the money, BUT he can’t move it because of whatever. But they found you and they want to move the $15,000,000 into your account. And they’ll give you 10% of it. ALL YOU HAVE TO DO IS GIVE YOUR ACCOUNT INFORMATION.
So be careful. I just find it amazing that I got this call. I’ve never gotten a call like that. And it just reminded me to remind you to watch out for these people. They’re out there…everywhere. And they’ll laugh on your last dollar.
Speaking of impact. I watched Joe Paterno’s tribute. It went two hours. This was a man that made a major impact on the lives of youths. One by one, people that he mentored walked up there and told their stories of what a great man he was.
And it got me thinking about making an impact. That’s what I’ve always wanted to do. I hope I am. I hope I have. Whether or not I’m right or wrong. I hope I’m doing things that benefit you. Get you thinking. Whether I’m whining about somebody in Washington or telling you about the leading stocks or what sectors are doing what, I hope am making some sort of impact. That’s the goal.
And even more so after watching 20,000 people salute a man who made such an impact on so many lives in different ways.
They announced they’re gonna keep rates low until 2014. They’re thinking about buying more assets…meaning they’re going to print more money. They’re gonna buy up bonds to keep’em low so loans can be whatever. I hate all of this. It sickens me.
- They’re killing the savers.
- They’re interfering with the markets in a not ordinary way.
And if the past does represent the future, the market’s gonna bite them in the rear end.
We have seen outcomes of leaving interest rates too low. We have not seen outcomes of what they are doing by printing money and all the other things they’re doing because we have never seen this during the course of history. But just by way of history, I need to let you know that whenever we’ve seen something like this — OUT OF CONTROL INFLATION OCCURS. Interest rates will go higher in spite of them. I am hopes that this does not happen.
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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.