Author Topic: PSA: Don't swipe recklessly for others  (Read 504743 times)

Offline Menachem613

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Re: PSA: Don't swipe recklessly for others
« Reply #1940 on: February 10, 2019, 08:41:25 PM »
If everyone sold their shares at Amazon they would also collapse.

Wouldn’t there need to be a buyer on the other side?

Offline Yowzy

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Re: PSA: Don't swipe recklessly for others
« Reply #1941 on: February 10, 2019, 08:42:48 PM »
Wouldn’t there need to be a buyer on the other side?

Fair enough. I’m just trying to prove a point. Any legit business could collapse if all investors withdrew their money.

Offline Chief Rabbi of New York

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Re: PSA: Don't swipe recklessly for others
« Reply #1942 on: February 10, 2019, 08:44:50 PM »
Fair enough. I’m just trying to prove a point. Any legit business could collapse if all investors withdrew their money.

Are you related to the scammer ? Or have money invested with them
Show Some Respect for Me, I am The Chief Rabbi of New York :)

Offline gingyguy

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Re: PSA: Don't swipe recklessly for others
« Reply #1943 on: February 10, 2019, 08:45:38 PM »
Feel free to send your story to Dan@DansDeals.com.
If you want parts redacted, please specify which parts.
FTFY
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Offline Yowzy

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Re: PSA: Don't swipe recklessly for others
« Reply #1944 on: February 10, 2019, 08:50:20 PM »
Are you related to the scammer ? Or have money invested with them
No and no. I know ppl that did invest with one of the “scammers” and my heart bleeds for them.
I simply run a small business and I am genuinely afraid that scaring people in a very public way could backfire and cause much more damage.


Offline gingyguy

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Re: PSA: Don't swipe recklessly for others
« Reply #1945 on: February 10, 2019, 08:54:58 PM »
No and no. I know ppl that did invest with one of the “scammers” and my heart bleeds for them.
I simply run a small business and I am genuinely happy that scaring people in a very public way could succeed and save so many peoples life savings.
FTFY
« Last Edit: February 10, 2019, 08:58:16 PM by gingyguy »
May you slide down the banister of happiness & get many splinters of success up your career.

Offline SearchGuy

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Re: PSA: Don't swipe recklessly for others
« Reply #1946 on: February 10, 2019, 09:15:43 PM »
Another company screwed people close to 12-20M+ Story is slowly getting released

Please don’t PM me for details, I will not reply to any related questions.
Can you at least explain why it's a secret unlike other events?

Offline ludmila

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Re: PSA: Don't swipe recklessly for others
« Reply #1947 on: February 10, 2019, 09:23:49 PM »
It’s actually not that absurd, all the rumors and fear mongering causes a so called “run on the bank”.
The “swiper” may have a legit business model, however if everyone stops swiping at once it would all collapse.
The “swiper” may have a legit business model, however if everyone stops swiping at once it would all collapse.
The exact definition of a ponzi scheme.
I was the Best,still the Best, and will always be the Best.
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Re: PSA: Don't swipe recklessly for others
« Reply #1948 on: February 10, 2019, 09:27:33 PM »
The “swiper” may have a legit business model, however if everyone stops swiping at once it would all collapse.
The exact definition of a ponzi scheme.
Actually, tbh, he does seem to be making a fair point that would make sense if these people were actually legit.

Alas, they’re not.
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Offline sawlw

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Re: PSA: Don't swipe recklessly for others
« Reply #1949 on: February 10, 2019, 09:28:54 PM »
Any legit business could collapse if all investors withdrew their money.

that

you can be 1000% legit, but find it impossible to patch a hole that size overnight

The “swiper” may have a legit business model, however if everyone stops swiping at once it would all collapse.
The exact definition of a ponzi scheme.

yes and no, not if he needs ,20, 30, 50+ days to sell off inventory etc., if a developer is in middle of a project and investor pulls funds overnight and he sinks, does that make it a ponzi?

Offline sruly

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Re: PSA: Don't swipe recklessly for others
« Reply #1950 on: February 10, 2019, 09:31:06 PM »
yes and no, not if he needs ,20, 30, 50+ days to sell off inventory etc., if a developer is in middle of a project and investor pulls funds overnight and he sinks, does that make it a ponzi?
When you are swiping to pay back the first person (as clearly stated in his email) then you are running a Ponzi scheme.

Offline Yowzy

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Re: PSA: Don't swipe recklessly for others
« Reply #1951 on: February 10, 2019, 09:34:35 PM »
The “swiper” may have a legit business model, however if everyone stops swiping at once it would all collapse.
The exact definition of a ponzi scheme.
When you are swiping to pay back the first person (as clearly stated in his email) then you are running a Ponzi scheme.

per google 'ponzi scheme' is;
"a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors."

Offline YesThatsMe

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Re: PSA: Don't swipe recklessly for others
« Reply #1952 on: February 10, 2019, 09:34:43 PM »
I worked for the CH people GN, LH & SS. I forecasted over 2 years ago that the model didn’t hold water and I left. Yet they are not scammers, just uneducated & inexperienced yeshivish ppl. A ddms post bashing them as ponzi perpetrators would be pure motzei Shem ra. End of the day it’s the idiots who forked over cash and credit cards who are ultimately responsible for their lack of basic investing knowledge.

A better idea for a ddms post is investment advice:

A) Never invest with someone who has no skin in the game.
B) Never invest money you can’t afford to lose.
C) Run every investment by a certified investment advisor (CFA, CFP, at a least a CPA) before investing. Retaining a due diligence company is also advised.
D) Have a lawyer draw up a detailed agreement with all investment details and waterfall.
E) Tip: Never invest with someone under 30, or with someone whose last venture or two went bust.
F) If you’re not an investment professional, putting whatever money you have available to invest in a S&P 500 MF or ETF is your best bet at investing, and stay focused on your day job/business and seek growth there.

Offline Yowzy

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Re: PSA: Don't swipe recklessly for others
« Reply #1953 on: February 10, 2019, 09:36:35 PM »
Actually, tbh, he does seem to be making a fair point that would make sense if these people were actually legit.

Alas, they’re not.

I know legitimate businesses that you 'cc swiping' as a partial form of working capital.

Offline YesThatsMe

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Re: PSA: Don't swipe recklessly for others
« Reply #1954 on: February 10, 2019, 09:37:19 PM »
I know legitimate businesses that you 'cc swiping' as a partial form of working capital.
Then they are not legitimate businesses. Period.
And you should probably get to know some other businesses, before you become (or continue to be) a korban.

Offline Chief Rabbi of New York

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Re: PSA: Don't swipe recklessly for others
« Reply #1955 on: February 10, 2019, 09:38:39 PM »
I worked for the CH people GN, LH & SS. I forecasted over 2 years ago that the model didn’t hold water and I left. Yet they are not scammers, just uneducated & inexperienced yeshivish ppl. A ddms post bashing them as ponzi perpetrators would be pure motzei Shem ra. End of the day it’s the idiots who forked over cash and credit cards who are ultimately responsible for their lack of basic investing knowledge.

A better idea for a ddms post is investment advice:

A) Never invest with someone who has no skin in the game.
B) Never invest money you can’t afford to lose.
C) Run every investment by a certified investment advisor (CFA, CFP, at a least a CPA) before investing. Retaining a due diligence company is also advised.
D) Have a lawyer draw up a detailed agreement with all investment details and waterfall.
E) Tip: Never invest with someone under 30, or with someone whose last venture or two went bust.
F) If you’re not an investment professional, putting whatever money you have available to invest in a S&P 500 MF or ETF is your best bet at investing, and stay focused on your day job/business and seek growth there.

Makes no sense
They are 12-20 million in the hole
When they were 3 million in the hole they didn’t realize they were sinking ?
Ponzi scheme
Show Some Respect for Me, I am The Chief Rabbi of New York :)

Offline ludmila

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Re: PSA: Don't swipe recklessly for others
« Reply #1956 on: February 10, 2019, 09:39:36 PM »
I worked for the CH people GN, LH & SS. I forecasted over 2 years ago that the model didn’t hold water and I left. Yet they are not scammers, just uneducated & inexperienced yeshivish ppl. A ddms post bashing them as ponzi perpetrators would be pure motzei Shem ra. End of the day it’s the idiots who forked over cash and credit cards who are ultimately responsible for their lack of basic investing knowledge.

A better idea for a ddms post is investment advice:

A) Never invest with someone who has no skin in the game.
B) Never invest money you can’t afford to lose.
C) Run every investment by a certified investment advisor (CFA, CFP, at a least a CPA) before investing. Retaining a due diligence company is also advised.
D) Have a lawyer draw up a detailed agreement with all investment details and waterfall.
E) Tip: Never invest with someone under 30, or with someone whose last venture or two went bust.
F) If you’re not an investment professional, putting whatever money you have available to invest in a S&P 500 MF or ETF is your best bet at investing, and stay focused on your day job/business and seek growth there.
All good and sound advice except for -Never invest with someone under 30-age has nothing to do with it, there are successful young entrepreneurs as many as old fools :)
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline Mo2

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Re: PSA: Don't swipe recklessly for others
« Reply #1957 on: February 10, 2019, 09:40:02 PM »
I know legitimate businesses that you 'cc swiping' as a partial form of working capital.
those legitimate businesses may (though not always) also legitimately be too risky for any real investors and therefore require using uneducated potential victims as a source of finance
Common sense is not a gift, it is a punishment.
Because you have to deal with everyone who doesn't have it.

Offline Yowzy

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Re: PSA: Don't swipe recklessly for others
« Reply #1958 on: February 10, 2019, 09:40:24 PM »
I worked for the CH people GN, LH & SS. I forecasted over 2 years ago that the model didn’t hold water and I left. Yet they are not scammers, just uneducated & inexperienced yeshivish ppl. A ddms post bashing them as ponzi perpetrators would be pure motzei Shem ra. End of the day it’s the idiots who forked over cash and credit cards who are ultimately responsible for their lack of basic investing knowledge.

A better idea for a ddms post is investment advice:

A) Never invest with someone who has no skin in the game.
B) Never invest money you can’t afford to lose.
C) Run every investment by a certified investment advisor (CFA, CFP, at a least a CPA) before investing. Retaining a due diligence company is also advised.
D) Have a lawyer draw up a detailed agreement with all investment details and waterfall.
E) Tip: Never invest with someone under 30, or with someone whose last venture or two went bust.
F) If you’re not an investment professional, putting whatever money you have available to invest in a S&P 500 MF or ETF is your best bet at investing, and stay focused on your day job/business and seek growth there.
why didn't you warn anyone?

Online JACKBLUE

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Re: PSA: Don't swipe recklessly for others
« Reply #1959 on: February 10, 2019, 09:40:48 PM »
I worked for the CH people GN, LH & SS. I forecasted over 2 years ago that the model didn’t hold water and I left. Yet they are not scammers, just uneducated & inexperienced yeshivish ppl. A ddms post bashing them as ponzi perpetrators would be pure motzei Shem ra. End of the day it’s the idiots who forked over cash and credit cards who are ultimately responsible for their lack of basic investing knowledge.

A better idea for a ddms post is investment advice:

A) Never invest with someone who has no skin in the game.
B) Never invest money you can’t afford to lose.
C) Run every investment by a certified investment advisor (CFA, CFP, at a least a CPA) before investing. Retaining a due diligence company is also advised.
D) Have a lawyer draw up a detailed agreement with all investment details and waterfall.
E) Tip: Never invest with someone under 30, or with someone whose last venture or two went bust.
F) If you’re not an investment professional, putting whatever money you have available to invest in a S&P 500 MF or ETF is your best bet at investing, and stay focused on your day job/business and seek growth there.
Very well said!!
Like given!