Holistic Survival Show - Economic Crisis
Business:Investing
HS 406 FBF - The Original Ponzi Scheme & How to Spot Bad Deals with Mitchell Zuckoff
Today's Flash Back Friday comes from Episode 241, originally published in January 2015.
Today’s Holistic Survival Show sees author, Mitchell Zuckoff, as guest to describe how a straightforward swindle was transformed into months of notorious money-making in the hands of Charles Ponzi. We can learn a huge amount from the history and the figures, but Jason Hartman also steers the discussion into a more contemporary tone, asking Zuckoff for his advice on identifying bad deals and how to avoid getting sucked in.
Key Takeaways:
1.57 – Mitchell Zuckoff takes us through the past of the man who characterized Ponzi schemes
06.34 – Swindles have existed for centuries, but what makes a Ponzi scheme so specific?
11.57 – Strangely, there is evidence to suggest that Ponzi’s intentions weren’t even as swindling as presumed
17.34 – The success Ponzi had in such a short time is really mind-boggling. Consider inflation as well and you can understand why he gained such notoriety
18.08 – It’s important that we learn from these aspects of history to not get caught up ourselves
22.25 – Unbelievably, people are still getting caught up in scandals involving money in Nigeria. What definition of skeptical do these people live by?
Website:
www.MitchellZuckoff.com
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