Financial advice for young and wealthy

[A_PLUS]

After seeing Newt_Bugs post on what young players do with their money, I offered my help to the younger posters with some free financial advice.
I received a few responses, so I figured I would expand on the project slightly.

What: I am going to start a small e-mail group, to help the young (or old) newly cash rich internet poker pros manage their money. Basically, my goal is to teach the really important concepts of money management in a very poker oriented way. I already work as an analyst / portfolio manager for a financial institution, unless someone has 1M$+ in assets, I can not bring them on as clients. Also, I don't want to deal with the ethical problems of doing actual fee based money management outside of work, so this is going to be a teaching endeavor only.

Why: Not to sound old (I'm only 27), but I want to look out for the young guns in the game (and most importantly on this forum). About 90% of the financial advice out there is pure garbage, and that is only within the financial industry. You add in the thousands of other people who see a young kid with 20 grand in the bank, as an easy target, and there is plenty of bad advice out there. I use the poker expertise of the young players to pad my ROI, at least I can share my expertise with them

What's in it for me? I would appreciate if anyone who decides to take me up on the offer, would be willing to provide me with a little coaching. Whatever you feel like doing is fine with me, review a few HHs, general lessons, etc.

If anyone is interested, PM me, and I will add you to the email list. I would be willing to post some stuff on the forum if there is enough interest.

Tom

[gildwulf]

I'm 20 and I don't know anything about the stock market or investing or any of that stuff. They didn't teach that in political science classes, unfortunately. I would be definitely interested in being on your email list, although I definitely won't have 20K in the bank (all my winnings are going towards gradschool debt). I'll look at whatever HH you need.

[A_PLUS]

BTW, I was throwing out the 20K as an extreme example. This will benefit anyone who wants to understand finance better.

Also, it is open to everyone, even if you dont feel like you are qualified to offer poker advice in return. This is more about me giving back to the forum. But thought i could squeeze some advice out in return /images/graemlins/wink.gif

[WebGuySteve]

PM Sent, I think this is a great idea, and we should really get this thing in motion!

[stealyourface]

yo if you want to give me some financial advice i am down.

I can help with SnGs if need be. Thanks.

-stealyourface

[BadMongo]

This sounds like a great idea. Although right now, like gildwulf, most of my poker profits are paying for school, I plan on investing some of it soon. I'm an economics major so I have a general idea about how financial markets work, but nothing very specific/practical. I really want to learn and this sounds like a good oppertunity. Thanks for the offer!

[MegaBet]

So buying a Porsche 911 with my poker winnings is a bad investment? /images/graemlins/grin.gif

[A_PLUS]

[ QUOTE ]
So buying a Porsche 911 with my poker winnings is a bad investment? /images/graemlins/grin.gif

[/ QUOTE ]

Actually, that is lesson 3 in my plan.

In between swimming pool filled with Crystal, and a robot....a female robot

[AbelM]

This is exactly what i need /images/graemlins/cool.gif

[augie00]

PM sent, this is great.

[DangerGoodson]

pm sent. But the only game I beat consisently is the party 10+1. I guess I'm also an expert at 2 to 7 Triple Draw, but that's pretty worthless.

[Scuba Chuck]

A-Plus, do you carry any licenses, like series 7, 66, etc?

[Mr_J]

"a robot....a female robot"

That's like having sex with a fridge???

[citanul]

i'm a licensed broker, but i want in /images/graemlins/smile.gif

i think.

citanul

[durron597]

I'll participate.

[Mr_J]

"What's in it for me? I would appreciate if anyone who decides to take me up on the offer, would be willing to provide me with a little coaching."

Sounds like you'll have enough people to get you to the $109s /images/graemlins/smirk.gif

[adanthar]

Yeah, I'd like this. PM sent.

[A_PLUS]

[ QUOTE ]
A-Plus, do you carry any licenses, like series 7, 66, etc?

[/ QUOTE ]

I have my CFA charter. I know that this allows me to waive the exam for some of the liscenses, I am not sure which though. I better check it out though before I go giving financial advice on a public forum. I also am 80% through the class work towards my PHD in financial economics.

I will double check with the liscenses, I am pretty sure I am covered, but dotn want to take any chances.

[ForumBot]

A FEMALE ROBOT /images/graemlins/laugh.gif /images/graemlins/laugh.gif /images/graemlins/laugh.gif

"OMFG"....PUSH.....Do they have Viagra in "metalflake"? /images/graemlins/smirk.gif

PPS: Will "she" be at the STTF-HUC ?...I'm down for the ride as Usher's hood ornament/bug-deflector /images/graemlins/smile.gif /images/graemlins/smile.gif

[Newt_Buggs]

He's going to be getting a lot of PMs.

The stuff that he's told me so far has been great though /images/graemlins/smile.gif

[A_PLUS]

1.) We now know where the real money is in poker. STT responses 978. MTT....0!!! (although they may be turned off by my advice, as I normally post there)

2.) Lots of PMs, not so many e-mail addresses.

3.) I dont have a ton of experience in tax/legal type work, so if anyone feels comfortable and would like to help in these areas, I would appreciate it. Also would love help in anything else as well (maybe setting up a small web site, or at least a way to make some excel files available for download)

[Degen]

great idea man, pm sent, thank you

[Scuba Chuck]

[ QUOTE ]
[ QUOTE ]
A-Plus, do you carry any licenses, like series 7, 66, etc?

[/ QUOTE ]

I have my CFA charter. I know that this allows me to waive the exam for some of the liscenses, I am not sure which though. I better check it out though before I go giving financial advice on a public forum. I also am 80% through the class work towards my PHD in financial economics.

I will double check with the liscenses, I am pretty sure I am covered, but dotn want to take any chances.

[/ QUOTE ]

Although I'm loosely familiar with the CFA (as I was once heading that route), I do carry the following licenses: 7, 31, 63, 65, and a couple of insurance licenses. I manage(d) about $18MM for individual clients. And here's what I'm getting at.

You are talking to people all over the country. Furthermore, you are offering (potentially) professional advice. Are you subject to any regulatory agencies by giving any advice due to your license(s) or experience? If so, you should do one of two things.

1) Don't do it.
2) Be sure and write a boat load of legal language proclaiming that this isn't really advice, and it should not be construed in that way. And if they want real advice, they should see a professional (yada yada).

Although I seriously doubt #2 would get me off the hook, it might work for you.

[A_PLUS]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
A-Plus, do you carry any licenses, like series 7, 66, etc?

[/ QUOTE ]

I have my CFA charter. I know that this allows me to waive the exam for some of the liscenses, I am not sure which though. I better check it out though before I go giving financial advice on a public forum. I also am 80% through the class work towards my PHD in financial economics.

I will double check with the liscenses, I am pretty sure I am covered, but dotn want to take any chances.

[/ QUOTE ]

Although I'm loosely familiar with the CFA (as I was once heading that route), I do carry the following licenses: 7, 31, 63, 65, and a couple of insurance licenses. I manage(d) about $18MM for individual clients. And here's what I'm getting at.

You are talking to people all over the country. Furthermore, you are offering (potentially) professional advice. Are you subject to any regulatory agencies by giving any advice due to your license(s) or experience? If so, you should do one of two things.

1) Don't do it.
2) Be sure and write a boat load of legal language proclaiming that this isn't really advice, and it should not be construed in that way. And if they want real advice, they should see a professional (yada yada).

Although I seriously doubt #2 would get me off the hook, it might work for you.

[/ QUOTE ]

Thanks, I will talk to my firms legal dept. I had thought about that, which is why I wanted to structure it as more of a finance class, than an investment advice forum.

I really appreciate the heads up though.

[Scuba Chuck]

[ QUOTE ]
Thanks, I will talk to my firms legal dept. I had thought about that, which is why I wanted to structure it as more of a finance class, than an investment advice forum.

I really appreciate the heads up though.

[/ QUOTE ]

No matter how you classify this (class, newsletter, etc.) you are still potentially subject to SEC/NASD regulations. Without a doubt, I would be. Frankly, I don't know why you would (subject to regulations) be if you're an analyst. And I assume you're a buy-side analyst at that. Do you give advice to any individuals at all? Because you have $1MM minimums, your clients don't fall into most of the general regulatory categories, and are considered an accredited investor. That being said, I'm really not sure what credentials you need.

I think it would be a help if you could provide your employment background. If you're uncomfortable with this, you could PM me, and I'll give my own opinion. It's an internet forum, so it's wise for all of us to be careful.

Scuba

[A_PLUS]

OK, I got the free and clear from my legal eagles. I just have to state that the info is my views only, yadda, yadda, yadda.

OK, I will try to get a plan of attack in place later this week. I think this will be fun, beneficial.

For those concerned (rightfully so) about my creditibility, or wether this is some sort of scam. Just give it a shot. I will not be pitching any specific stocks, funds, advisors, etc. I hope it will be as if you signed up for the class

"what you need to know to make your own investment decisions" at 2+2 University.

[Khern]

What a wonderful country. People can't take care of themselves, lets regulate them into financial safety by not allowing conversation on financial matters...

John

[wiggs73]

I look forward to it. Also, you had better make me rich. /images/graemlins/wink.gif

[raptor517]

if only i knew how to manage my money.. sigh. holla

[wulfheir]

[ QUOTE ]


What a wonderful country. People can't take care of themselves, lets regulate them into financial safety by not allowing conversation on financial matters...

John

[/ QUOTE ]
If the president of a company that sells ice in the arctic tells you that it's in your portfolio's best interest to invest in his company, are you going to do it?

Regulation = Protection

[liucipher]

Unconventional Success by David Swensen (http://www.amazon.com/exec/obidos/tg/detail/-/0743228383/ref=pd_sxp_f/103-7861981-0911831?v=glance&s=books)

Don't want to plug my boss's book, because it's a horrendously painful read (also it's not out yet). I read a proof and it was fairly smart though. Maybe worth a borrow from the library and a quick skim.

No offense to A_PLUS, but I have negative trust of wealth management people. In this case there's not much moral hazard/incentive problems, but frankly I'm less than impressed with the level of knowledge from private bankers.

Best of luck getting these folks to invest well A_PLUS. I can only imagine how painful the discipline of asset allocation is going to be to a bunch of people who can't even allocate their time evenly between SNGs and school.

[Khern]

protection for who?

I can make my own decisions. I don't need the government making them for me.

I can understand a case for certain types of regulation that make accurate information available(to prevent fraud, and allow informed decisions), but not regulation that restricts consensual action. When this type of force is introduced, all sorts of people come forward to manipulate the system for their own good.

Who is to protect us from the regulators?

John

[A_PLUS]

No offense to liucipher, but I have negative trust of people who hijack my thread to pimp their bosses book /images/graemlins/grin.gif

I am kidding, from what I saw in the preview, that book would be on a short list of financial books that I would endorse.

One of my planned topics is "the hidden fees of common investment vehicles".

This is going to be pretty far from a 'typical' money managment seminar. I would love to have you on the list, as you sound like you are knowledgable and cocky (which is a good combo IMO).

[citanul]

please have this discussion elsewhere. preferably in the politics forum or something.

there are very good reasons to protect people from things using the government, in my opinion. but that's my opinion. you're entitled to as much libertarianism as you want, but really there's no reason to be debating whether or not there should exist a classification "qualified investor" in this thread.

citanul

[Wu36]

Great idea, pm sent.

[Freudian]

[ QUOTE ]

What's in it for me? I would appreciate if anyone who decides to take me up on the offer, would be willing to provide me with a little coaching. Whatever you feel like doing is fine with me, review a few HHs, general lessons, etc.

[/ QUOTE ]

Good idea. Should be beneficial for both parties.

[ForumBot]

[ QUOTE ]
In between swimming pool filled with Crystal, and a robot....a female robot

[/ QUOTE ]

Breasts = 1qt.oil cans w/ inverted funnels ? /images/graemlins/smile.gif

Genitalia = Bear Trap /images/graemlins/frown.gif /images/graemlins/frown.gif

[A_PLUS]

Also, anyone with investment experience, I appreciate any help I can get. I will never claim to know it all, so speak up!

[Khern]

[ QUOTE ]
please have this discussion elsewhere. preferably in the politics forum or something.

[/ QUOTE ]

Sure. I figured the original post was rather off topic to start with and was tolerated, but I didn't mean to distract too much.

-John

[gildwulf]

How can the original post be off topic?

[Scuba Chuck]

[ QUOTE ]
please have this discussion elsewhere. preferably in the politics forum or something.

there are very good reasons to protect people from things using the government, in my opinion. but that's my opinion. you're entitled to as much libertarianism as you want, but really there's no reason to be debating whether or not there should exist a classification "qualified investor" in this thread.

citanul

[/ QUOTE ]

LOL, I think there is a stock market (http://forumserver.twoplustwo.com/postlist.php?Cat=&Board=stocks) section to this forum???

[Bigwig]

Dude, I'm a financial planner, and you're going to get yourself in trouble by giving advice on this forum. You have to be licensed in each poster's state, and if you give anything specific without collecting all the necessary data you open yourself up to liability. Remember, you're acting as a fiduciary.

No offense to anyone, but I can't help you. /images/graemlins/tongue.gif

[citanul]

does he need to get licensed or anything like that if all he's going to do is teach, not make recommendations?

[Scuba Chuck]

[ QUOTE ]
Dude, I'm a financial planner, and you're going to get yourself in trouble by giving advice on this forum. You have to be licensed in each poster's state, and if you give anything specific without collecting all the necessary data you open yourself up to liability. Remember, you're acting as a fiduciary.

No offense to anyone, but I can't help you. /images/graemlins/tongue.gif

[/ QUOTE ]

bigwig, I'm not sure if he is liable to this because he carries no licenses. Those were my thoughts at first. Second of all, in order for him to begin to incur any fiduciary liability, he'd have to start receiving some compensation. I think this is a lot like an agent acting on behalf of a newsletter for CTAs. As long as the agent has no affiliation with where the transactions are being done, and he's not giving SPECIFIC and INDIVIDUAL financial advice, then he should not be governed.

But I do agree that there are concerns, and OP should be mindful.

Scuba

[Bigwig]

[ QUOTE ]
does he need to get licensed or anything like that if all he's going to do is teach, not make recommendations?

[/ QUOTE ]

I think so. I can't do a seminar, for example, in a state where I'm not licensed. Although seminars might be considered solicitations.

If he gives very broad very non-specific advice, he should be fine. But I've been warned by my OSJ and home office many times about message board posting. I don't even mention my franchise name because of this. It's just too spooky out there today.

My suggestion is for everybody to simply hire their own local professional.

[Scuba Chuck]

[ QUOTE ]
does he need to get licensed or anything like that if all he's going to do is teach, not make recommendations?

[/ QUOTE ]

No, but if he is licensed, he could become liable. This is where the problems can come in. Furthermore, teaching is very subjective, and can be construed as advice. For example, in classes I've seen, it was construed that because index funds are the cheapest cost, then that is the best route.

Unfortunately, this now becomes advice, and not teaching.

Scuba

[Bigwig]

[ QUOTE ]
[ QUOTE ]
Dude, I'm a financial planner, and you're going to get yourself in trouble by giving advice on this forum. You have to be licensed in each poster's state, and if you give anything specific without collecting all the necessary data you open yourself up to liability. Remember, you're acting as a fiduciary.

No offense to anyone, but I can't help you. /images/graemlins/tongue.gif

[/ QUOTE ]

bigwig, I'm not sure if he is liable to this because he carries no licenses. Those were my thoughts at first. Second of all, in order for him to begin to incur any fiduciary liability, he'd have to start receiving some compensation. I think this is a lot like an agent acting on behalf of a newsletter for CTAs. As long as the agent has no affiliation with where the transactions are being done, and he's not giving SPECIFIC and INDIVIDUAL financial advice, then he should not be governed.

But I do agree that there are concerns, and OP should be mindful.

Scuba

[/ QUOTE ]

He's not licensed?

Wait, what the hell does he do?

[Scuba Chuck]

[ QUOTE ]
[ QUOTE ]
does he need to get licensed or anything like that if all he's going to do is teach, not make recommendations?

[/ QUOTE ]

I think so. I can't do a seminar, for example, in a state where I'm not licensed. Although seminars might be considered solicitations.

If he gives very broad very non-specific advice, he should be fine. But I've been warned by my OSJ and home office many times about message board posting. I don't even mention my franchise name because of this. It's just too spooky out there today.

My suggestion is for everybody to simply hire their own local professional.

[/ QUOTE ]

I am going to look into this. As I've stated before, I'm leaving the financial advisoring industry. I will probably become a financial products wholesaler (meeting with Pimco for example). Anyway, I'm not sure if I need to retain my licenses or not. And if I don't, I wonder how liable I could be for teaching a class.

A_plus has made some comments that could be construed that he will become a RIA. If that's the case, then I agree, he should let this go.

Scuba

[A_PLUS]

I appreciate the advice. I have consulted the compliance officers at my company, and have an e-mail to the legal/ethics consultant of a professional organization that I belong to.

I am currently employed as an analyst, and do not need to have any liscenses (series 7, etc).

I plan for this to be very academic in nature (only explained in common language, with poker as a common drawing point).

I have no affiliation with any company that offers any sort of brokerage service, and/or provides public mutual funds. I will not be making any specific recomendations, only giving examples of how you would make an investment decisions (with completely fictitious investment choices).

I will not be recieving any money for this, and will not be soliciting clients.

I think I am in the clear legally, but I will be sending the first e-mail to my compliance officer before I send it to make sure everything is on the up and up.

[diconoclastx]

Great idea! Sign me up!

[The Don]

[ QUOTE ]
[ QUOTE ]
Thanks, I will talk to my firms legal dept. I had thought about that, which is why I wanted to structure it as more of a finance class, than an investment advice forum.

I really appreciate the heads up though.

[/ QUOTE ]

No matter how you classify this (class, newsletter, etc.) you are still potentially subject to SEC/NASD regulations. Without a doubt, I would be. Frankly, I don't know why you would (subject to regulations) be if you're an analyst. And I assume you're a buy-side analyst at that. Do you give advice to any individuals at all? Because you have $1MM minimums, your clients don't fall into most of the general regulatory categories, and are considered an accredited investor. That being said, I'm really not sure what credentials you need.

I think it would be a help if you could provide your employment background. If you're uncomfortable with this, you could PM me, and I'll give my own opinion. It's an internet forum, so it's wise for all of us to be careful.

Scuba

[/ QUOTE ]


Blah... I don't care if some random bureaucrats designate someone as "accredited". I put no weight at all on government regulations. Protecting people from themselves is quite absurd and it really hurts those with true talent and intelligence. I am free to take this guy's advice if I feel it is useful (although I always prefer making my own decisions).

[Scuba Chuck]

[ QUOTE ]
I am free to take this guy's advice if I feel it is useful

[/ QUOTE ]

This is very true. But if it were from me, because of my licenses, you could also sue me. Thus, I am very particular to whom I give advice to.

[Insty]

[ QUOTE ]
This is very true. But if it were from me, because of my licenses, you could also sue me. Thus, I am very particular to whom I give advice to.

[/ QUOTE ]

Would suing you have a better ROI than acting any advice you might give?

What grounds does someone need? How does it work?
Do they have to invest all their money and then lose it and sue you and you have to pay it back or what?

Why would anyone BE a financial adviser if you are not actaully allowed to tell anyone anything?

It all seems very odd to me.

I really believe this would be a really good addition to a general forum area or something. Most poker players do not understand the importance of manageing their money allthough they are able to manage it well on the table. The 2 are equally important and I for one think it would be a great addition to the forum. Maybe something moderators might could take attention to?

[rvg72]

[ QUOTE ]
if only i knew how to manage my money.. sigh. holla

[/ QUOTE ]

I'll take a shot at financial advise for Raptor.

Lesson 1: stop lighting $100 bills on fire.

rvg

[pergesu]

[ QUOTE ]
I don't care if some random bureaucrats designate someone as "accredited".

[/ QUOTE ]
I don't know much about this stuff, but I don't think being an accredited investor has anything to do with what you're talking about. There are certain qualifications you have to meet, and if you do, you're able to get in on a bunch of high risk investments, but also very lucrative ones such as buying large amounts of stock in a company before an IPO. Something like that. I think. I'm sure Scuba can explain it all if anyone cares.

[Khern]

Seems to me that Financial advice is not poker, much less STT poker.

Maybe i'm wrong. Either way, I wasn't trying to debate non-appropriate material here.

John

[A_PLUS]

Ok, even I am sick of this thread. Anyone with questions can PM me.

As for being 'accredited'.

The government needs to regulate who can buy/sell financial instruments. This is done to protect the consumer from all kinds of crooks, etc. Yes, this puts a burden on financial professionals, but no more so than other professionals, ie Drs, lawyers, etc.

For the past 5 years I have been in research, so I have not needed to be 'liscensed'. This is required for anyone who sells products, or the like. This has absolutely nothing to do with my knowledge or skill level. I just have never needed them.

Scuba Chuck was looking out for my interests, bringing various regulatory matters to my attention. I have researched the issue, and do not think it is a problem. Since I do not sell financial instruments I am free to give general financial advice.

So, lets leave the forum to STT, and move on. I only posted here b/c this is where I am currently playing (would need advice on).

So any more questions, PM me.


back to your regularly scheduled forum

[MegaBet]

[ QUOTE ]
great idea man, pm sent, thank you

[/ QUOTE ]

He said the young and the wealthy...not the luckbox-y /images/graemlins/grin.gif j/k

[pergesu]

Whoa I'm not making an attack on you or saying that you don't have credentials. I was just briefly explaining what I remember what an "accredited investor" is. Which is something entirely different from you being licensed and everything. From what I remember, it's basically just being rich enough to make ridiculous investments.

I really appreciate what you're doing here, and that post had nothing to do with you, much less be a criticism.

[MegaBet]

[ QUOTE ]
if only i knew how to manage my money.. sigh. holla

[/ QUOTE ]

Don't you just shove it into extra SNG games? Hooola.

[WebGuySteve]

I may be able to help in setting up the website. Let me know when you have some more ideas on what you'd like on the site. I can definitely host it. I used to design websites before i fell into this whole poker thing...hence the handle.

[cow_phunk]

[ QUOTE ]
does he need to get licensed or anything like that if all he's going to do is teach, not make recommendations?

[/ QUOTE ]

and there's the gray line
eventually, if a strategy is discussed or something similiar to this nature, then yes. it doesn't even have to involve tips individual products.

[A_PLUS]

If you could set up a web page that would be great! Just let me know what you would need from me

[Scuba Chuck]

[ QUOTE ]
I may be able to help in setting up the website. Let me know when you have some more ideas on what you'd like on the site. I can definitely host it. I used to design websites before i fell into this whole poker thing...hence the handle.

[/ QUOTE ]

Ah, here's where you're crossing the line A+. I seriously don't think you want your name on the web associated with this at this point in your career. Emails are one thing, but a public forum is another.

[Bigwig]

Whatever the case, I'd once again recommend that each poster who is serious about investing seek out an individual professional in their area.

[Scuba Chuck]

[ QUOTE ]
Whatever the case, I'd once again recommend that each poster who is serious about investing seek out an individual professional in their area.

[/ QUOTE ]

Are you kidding me? This is unfortunately not generally a good idea, IMO. Unless someone's got $100k plus, I don't think they have a very good chance at finding someone who isn't interested more in the single payday at investing their money, and moving on. I have a very biased view of my industry, and most of them are just salesmen/women rather than real advisors.

In principle, I agree with your statement, but I just don't think it's applicable. Furthermore, I think it's to each of these guys benefit to make some mistakes. Doing my job is difficult, and the sooner people realize it's difficulty, the better client they become when they are older.

Scuba

[Bigwig]

[ QUOTE ]
I have a very biased view of my industry, and most of them are just salesmen/women rather than real advisors.

[/ QUOTE ]

Well, not the people I work with. 90% of them are very professional and give excellent advice.

Just get a referral from somebody you know that has a good experience.

Being in the industry, I can't believe you'd recommend that people do things on their own. Literally 95% of people I meet are making serious mistakes that will cost them 6 figures over 20+ years.

[RedBean]

[ QUOTE ]

This is very true. But if it were from me, because of my licenses, you could also sue me. Thus, I am very particular to whom I give advice to.

[/ QUOTE ]

Who is actually going to go down to the courtroom and say they want to sue a guy they met on the internet named "Scuba Chuck", because he told them to buy coastal property in Arizona?

I can just see the look on the clerks face now.

Maybe there is an non-lianility or release form that A_PLUS can work up to have folks agree to beforehand?

And on a personal note, those rules seem back asswards....I would openly welcome free advice from a guy like Scuba as a professional in his industry, and if it doesn't work out, it'd be my own damn fault for following advice of an anonymous guy named "scuba chuck" on the internet, and sueing would be ridiculous.

[maddog2030]

[ QUOTE ]
Who is actually going to go down to the courtroom and say they want to sue a guy they met on the internet named "Scuba Chuck", because he told them to buy coastal property in Arizona?

I can just see the look on the clerks face now.

[/ QUOTE ]

The same people who sue McDonald's for not telling them their coffee is hot. The fact of the matter is there are people that are always looking for a way to take your money. I don't think it's wise to think that a bunch of strangers have your best interests at heart and not their own.

Sure, most won't sue. But it only takes one to ruin your life.

[Degen]

[ QUOTE ]
please have this discussion elsewhere. preferably in the politics forum or something.

there are very good reasons to protect people from things using the government, in my opinion. but that's my opinion. you're entitled to as much libertarianism as you want, but really there's no reason to be debating whether or not there should exist a classification "qualified investor" in this thread.

citanul

[/ QUOTE ]

you tell em cit! ban those bastards! /images/graemlins/grin.gif