No. of Recommendations: 15
I have an interesting story to tell. I was recruited into a what’s app group for investing. It is called the Vanguard Investors’s group. They use charts to pick stocks. Something did not seem right because Vanguard is a mutual fund company. I did buy a tiny amount of one of the stocks they recommended. They wanted to see a screen shot of my portfolio, and of the stock they recommended. I looked them up, and it turns out it is a scam. They get you to trust them and then do one of two things. Get a lot of people to buy stock in a small company that they already own, to move the price up, and then sell their share for a huge profit, or get you to hand over your money to them and just disappear with it. They promise amazing returns, so people think they are going to get rich quickly. There is a name for this. It is called pig butchery, and 85 billion dollars are lost yearly to it. It is very sad. 68 year olds, lose their life savings.
No. of Recommendations: 1
Glad you didn't fall for it.
FWIW bogleheads.org is what you may roughly call the Vanguard Investors group. Has some pretty good information albeit with a healthy/unhealthy dose of skepticism towards people who pick individual stocks. Overall a civil community.
