financial fraud

Divinely Inspired Algorithms Can Beat the Market

As the case I’m going to describe would indicate, it is a solid myth that divine inspiration can feed your greed.   That is so wrong on so many levels, isn’t it?  But some investors apparently didn’t think so. (this blog post is based entirely on the case described in Wealth Management magazine regarding two Utah …

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MYTH : Trump’s Social Security Tax Holiday Will Help Employers and Their Employees

Well, this is a solid myth, that’s for sure.  Smart and ethical CPAs are recommending that their clients not just walk, but sprint away from the Memorandum Deferring Payroll Tax Obligation.  Let me preface this by declaring that I’m not an attorney and that all of this is my opinion.  But I can read and …

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Propaganda is Obvious

Because it is excellent, I’ve cut and pasted from a fascinating- and chilling -article by Berit Anderson and Brett Horvath from scout.ai  If you wanted reasons to spend less time on line, well here you go.  The full article is at https://scout.ai/story/the-rise-of-the-weaponized-ai-propaganda-machine  This is a must read.  Thanks Tom Civiletti for your post.The upshot:  political, social …

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Caveat Venditor

We’re all too familiar with the doctrine of “caveat emptor”, or buyer beware, which places all responsibility for a bad deal on the shoulders of the consumer.  Caveat venditor reverses that responsibility, placing all responsibility upon the seller.  With financial products and services, both are true, as the case below shows.  A quick check with http://brokercheck.finra.org/ …

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Annuity Salespeople Are All Honest & Competent Because of Special Licensing

I don’t think I have to remind you that this post heading is a MYTH.  What’s astonishing with the case below is not so much the jaw-dropping audacity of the crook but the carelessness of his victims.  Here’s the story, according to an article by Marlene Y. Satter in ThinkAdvisor.  (See my Do’s & Don’ts …

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Annuity Salespeople Are All Honest & Competent Because of Special Licensing

I don’t think I have to remind you that this post heading is a MYTH.  What’s astonishing with the case below is not so much the jaw-dropping audacity of the crook but the carelessness of his victims.  Here’s the story, according to an article by Marlene Y. Satter in ThinkAdvisor.  (See my Dos & Don’ts …

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Annuity Salespeople Are All Honest & Competent Because of Special Licensing

I don’t think I have to remind you that this post heading is a MYTH.  What’s astonishing with the case below is not so much the jaw-dropping audacity of the crook but the carelessness of his victims.  Here’s the story, according to an article by Marlene Y. Satter in ThinkAdvisor.  (See my Dos & Don’ts …

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IRS Makes It Easy to Pay Your Federal Student Tax On The Phone

Well, that’s a myth.  There is no such thing as a “Federal Student Tax ” (other than the larcenous interest rates they charge students)  But here are some recent things scammers do that IRS definitely will NOT do: Demanding immediate tax payment for taxes owed on an iTunes gift card. Soliciting W-2 information from payroll …

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8 to 10% Is A Reasonable Expected Rate of Return

Reminder:  These Financial Myths Headings are Myths. No.  8-10% is not a reasonable rate of return, even though national investment “superstars” still claim that it is.Here in Oregon, that point has been driven home . . . again, unfortunately, by Aequitas Management.  The article that follows is long but instructive.  (Thank you Advanced Regulatory Compliance, …

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All Financial Advisers Are Screened by State and Federal Regulators

I hope it isn’t getting too redundant for me to remind you gentle readers that the headings of these posts are MYTHs.  This one is no exception.  Sort of. Depending on who they work for and the kind of work they do, financial advisers are indeed somewhat screened by regulators.  After all, there are education, …

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