I'll make this short and sweet so you will never forget it. ALWAYS check the bio of every person you listen to or read articles from. If they have a past writing for realmoney.com, Thestreet.com or any other publications affiliated with Jim Cramer, run away as fast as you can.
There are a lot of these guys out there and they usually like to mention it somewhere along the way, either in an article or their bio because they think it's some symbol of credibility. Nothing could be further from the truth. These guys should never be trusted.
Similar to getting on CNBC, almost everyone in the financial industry will bend over backwards to become involved with these publications because they know they're great marketing venues since there are so many sheep out there who have no idea they're being fooled.
There's nothing wrong with trying to increase your business via marketing (man I hate marketing). The problem arises when you lack ethics. You will compromise integrity in exchange for the chance to make big money by developing a big following. These are usually the same guys who spend the majority of their time on marketing activities; you know, like some of these guys who are on TV all the time, yet claim to be "investment strategists" or "researchers." I won't mention any names. This is how it works.
It's time to wake up. Your livelihood depends on it.
Quite simply, the education we provide is priceless. Those who do not receive it are certain to lose a good part if not all of their life savings by falling for the countless con men that seek to win your trust and make up stories. The current gold/doomsday scam is just one example of this. You can be sure that there will be many more scams to come.
So you had better ask yourself the following question…are you able to spot scam artists?
How often do you hear someone spend so much time at work fighting to get the truth out when they should be focusing on sales?
With the exception of Mike’s efforts, it NEVER happens.
Many have been fooled by snake oil salesmen to think they are on your side, when they are really looking to hook you into their sales pitch.
Mike could focus on producing videos that always highlight his amazing track record in order to generate sales, but he doesn’t.
Instead, he spends a great deal of time exposing the liars and con men out there who are duping millions of people with their gold-pumping, doomsday delusions, even though these efforts are costing Mike a great deal of lost sales.
Just remember this down the road once you look back at this period as a huge fraud perpetrated not only by Wall Street, but also by thousands of doomsday, gold-pumping charlatans. If you do not already realize they are scam artists, you will eventually if you take their advice. That is a guarantee.
Mike Stathis remains the lone voice of reason and wisdom for Main Street.
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