This is a note I sent recently in response to an advertisement masquerading as a legitimate news article.
"I hadn’t seen it yet even though I skim over 100 news sources daily. This is probably because I have blocked this source from my feeds, it spreads a lot of junk within the otherwise okay content. As you know since fear sells; people use it to get attention."
I’ve called some of the fear mongers out and gotten blocked as a result, and have some acquaintances online that do it even more aggressively. These people do real harm to investors, as they not only generally push bad advice, but they keep people from making the money they otherwise should have, had they invested wisely.
- To address this fallacy, the real story is: (not important, specific to this latest sky is falling premise)
- This is a dubious newsletter sales pitch masquerading as a legitimate article. Among the familiar strategies suggested are buying precious metals, keeping physical cash, moving overseas, getting a foreign passport, buying whole life insurance, peer to peer lending to get an “easy safe 10%+”, buying raw land, buy stocks they are promoting (and possibly paid for or pump and dump), and the list goes on and on...
Please let me know if you would like to discuss or have any questions.
My best advice is simply to stay far away from the extreme doom and gloom types on the internet. If you have friends that send you this stuff, do the equivalent of a Snopes check. Then you will see the gaping holes; then you can let them know, so they don’t fall victim.
Have a great week and thanks!
Tom Gartner, MSAPM, CFP®
This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular investment or legal strategy. The information contained here has been obtained from sources believed to be reliable but cannot be guaranteed for accuracy.