Investment Query

masonic

puk999 wrote: »

Could it be feasible that the OP (who only joined today) might actually be the person seeking investors? Their story might be the bait to catch forum readers who want to get rich quick. Perhaps they hope some PMs will come their way asking for more details?

You mean you didn't believe the OP's eminently plausible explanation for registering using a new account?

To be honest, if it is bait for others, then it is not very appetising and the responses from the regulars should warn off even those stupid enough to buy into a get-rich-quick scheme posted on the internet.

You could be right though - let's see if the OP comes back to shed any light on those unanswered questions about his due diligence around the trading account and "guarantee"...

Archi_Bald

masonic wrote: »

let's see if the OP comes back to shed any light on those unanswered questions about his due diligence around the trading account and "guarantee"...

He and his investor mate, if they are indeed different people, will probably be scratching their heads right now over how to respond to all those doubters on MSE. I hope he/they will come up with something as there should be a bit more mileage in this story before it is exposed as the scam it is.

Withdrawing in a sulk is not an option now, OP

bugbyte_2

PPCG wrote: »

Hi All,

I've not posted for a long time and was an active user of the Matched Betting forum (under a different account and I can't remember the login!!).

Hello there! it is very easy to retreve an old username and password, all you have to do is click the 'forgot password' link on the log in page, put in your email address in and hay presto! you get an email with your user name and password details! Couldn't be simpler! (unless of course there was no previous account and the OP is telling porkies ).

masonic

You do need to remember which email address was used to create the original account though and still have access to it.

PPCG

colsten wrote: »

Insured? How? With whom? I'd love to know where I can insure my investments, tell us more.

The investment isn't insured the stop loss is. You can get anything insured if you want. If you can insure a footballers leg then you can insure anything. It just cost money.

masonic

PPCG wrote: »

The investment isn't insured the stop loss is. You can get anything insured if you want. If you can insure a footballers leg then you can insure anything. It just cost money.

A stop loss won't guarantee an 8% return next year.

You can get anything insured, but the cost of investing an investment against loss would cost more than you could expect to gain from it rising in value - hence, nobody is in the habit of offering such insurance.

PPCG

Archi_Bald wrote: »

Definitely sounds all very fishy. The guarantee and insurance bits are not credible, for starters. Coldiron's remarks regarding financial advice are very valid, too. More than that, if this was a legitimate operation, we, and many other people such as the Press, would have heard about it before.

It is a scam.

Firstly PM me as much as you like I couldn't tell you details if I wanted. They guy wouldn't take on unsolicited contact. It has to be a referral and if I don't know you you ain't getting it.

The Press would NOT have heard of it as it's not that type of setup and not advertised anywhere. Hence the low numbers.

The trading account is legitimate with a leading company. Still in my name.

I do realise you can recover an old mse account it is easy, but my old email linked is now closed so impossible if I tried.

My original question was does anybody have experience of 10% yearly gains. To date nobody has answered the question but attacked me. Clearly I understand if it sounds too good to be true it usually is, again another reason why I spent so much time qualifying everything with this guy. My initial investment was small but has grown, if this is a scam he is really, really bad at it as after coming up for 3 years he has no way of accessing my cash. Even the biggest ponzi deals could not survive with the regular amounts shown being added to my account without collapsing.

Now before you all take this the wrong way, I'm not saying this guy is a guru, but I wonder how many people questioned Warren Buffett when he set up all those years ago?

PPCG

Oh and I'm not the guy making the trades. I wish I was as I wouldn't be here talking on this forum and asking questions.

joe_mcclaine

If I was going to fleece a load of mugs, I'd happily chuck 'em the odd £500 a year as bait.

I'm bookmarking this one for when it all goes tits up.

masonic

PPCG wrote: »

Firstly PM me as much as you like I couldn't tell you details if I wanted. They guy wouldn't take on unsolicited contact. It has to be a referral and if I don't know you you ain't getting it.

Good to hear.

The trading account is legitimate with a leading company. Still in my name.

And set up by you? Do you receive correspondence etc.

My original question was does anybody have experience of 10% yearly gains. To date nobody has answered the question but attacked me.

There is very little in this thread attacking you. Most have tried to stress-test the scheme you have described and looked for potential clues that it may be a scam.

Just to remind you, your question was actually "...was wondering if anybody else out there had similar experiences or have I just hit it lucky and should put some more money it this?"

The "have I just hit it lucky and should put some more money it this?" requires us to explore exactly what it is. As mentioned, there are ways in which this could not be an out and out scam, but still should be avoided.

Clearly I understand if it sounds too good to be true it usually is, again another reason why I spent so much time qualifying everything with this guy. My initial investment was small but has grown, if this is a scam he is really, really bad at it as after coming up for 3 years he has no way of accessing my cash. Even the biggest ponzi deals could not survive with the regular amounts shown being added to my account without collapsing.

But he is getting his fee and will continue to do so until your returns dry up. You don't know how many people he's disappointed for each person he got it right for. Read scenario B+C in my above post. You have been lucky so far. I don't believe that will last.

Now before you all take this the wrong way, I'm not saying this guy is a guru, but I wonder how many people questioned Warren Buffett when he set up all those years ago?

It is not implausible for this person to have made the kind of returns you describe over the past 5 years. However, it is impossible for them to have done so without some risk to your capital (even a stop loss would require a drop of typically ~10% to trigger -anything much tighter than that and normal stockmarket fluctuations would get in the way). It is also impossible to guarantee a return of at least 8% going forward.