Tuesday, December 16, 2008

What verb phrase does Carmen Wong Ulrich use in her Monday article on Ponzi scheme protection?


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Question: What verb phrase does Carmen Wong Ulrich use in her Monday article on Ponzi scheme protection?

Answer: take a hike

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Ponzi Schemes: Know How to Protect Yourself
Posted By: Carmen Wong Ulrich 

Whether you’re a billionaire, a millionaire or a couple-hundred-aire, a pyramid scheme is a pyramid scheme is a pyramid scheme and Bernard Madoff’s mega wheel and deal was only a few steps away from the mass of insidious multi-level marketing scams out there.

Here’s a reminder as to where Madoff may have drawn his inspiration: In 1921, Charles Ponzi managed to pilfer millions from New England’s best all based on the purchase of $30 of international mail coupons. There is no protection offered by class or size-of-wallet when it comes to Ponzi’s protégés, but what separates those who have been had vs. those who are and were immune is knowing when to let your brain do the talking and when to tell greed do the walking.


If someone offers you returns that the market doesn’t support, tell ‘em to take a hike.


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