Enjoyed your story of horse racing scam. Similar stock broker version…Cold-call broker says don’t invest with me just yet but watch XXX stock – its going to go up. It goes up…He calls back and says don’t invest any money yet, but watch YYY stock – its going to go up. It goes up. He calls back and you think he’s a genius so you invest with him. The scam is he called 100 people the first time and told 50 it would go up and 50 it would go down. Then he called the 50 back where he was right and told 25 the next stock would go up and 25 it would go down. So 25 people think he’s a genius.
Enjoyed your story of horse racing scam. Similar stock broker version…Cold-call broker says don’t invest with me just yet but watch XXX stock – its going to go up. It goes up…He calls back and says don’t invest any money yet, but watch YYY stock – its going to go up. It goes up. He calls back and you think he’s a genius so you invest with him. The scam is he called 100 people the first time and told 50 it would go up and 50 it would go down. Then he called the 50 back where he was right and told 25 the next stock would go up and 25 it would go down. So 25 people think he’s a genius.