News Analysis: An Istanbul, Turkey, Currency Trader, of apparent British origins, is suspected of bilking his clients for more than 130 Million Pounds ($200 Million Dollars). Using various charades, he communicated to his unfortunate investors that he was not able to pay them back their monies. Now, this apparent British “Bernie Madoff” style Trader made off with investors’ funds. They should have realized, in Confidence Games: If two and two add up to five, Investors are in trouble.
We think that in 2015, many more Financial Deviances will be sprouting up like weeds on Wall Street. Accountants, Arbitrageurs, Bankers, Brokers, Fund Operators, (AABBFOs) etc. will be ‘hard-pressed’ in the forthcoming economy, which we foresee. Flimsy investment advice by self-interested “Professionals” will not be able to cope with then-present economic realities. Investors will lose billions of Euros in such investments; this, both due to fraud but also ineptness of judgement.
As always, we suggest: “Trust, But Verify”.
If you want Business and/or Investment Advice, seek out those Seasoned Professionals who put their Clients First, and they, Second. Beware of those “AABBFO” ‘Professionals’ who have the mentalities of Trollops. They will not give you a ‘Treat’ but a ‘Trick’.