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Transcript

How to Spot an Investment Scam · Earn Your Leisure

• 0:01
  Speaker 1: Earners.
• 0:01
  Speaker 2: What's up.
• 0:02
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  Speaker 3: can keep pushing your vision forward. This episode is brought
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  Speaker 3: to you by P and C Bank, a lot of
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• 1:48
  Speaker 3: Member FDIC.
• 1:51
  Speaker 2: What's the biggest scam in investing.
• 1:57
  Speaker 1: SPACs? For one, A lot of those are dead. Y'all
• 2:04
  Speaker 1: want me to go here, please? I think people who
• 2:14
  Speaker 1: put funds together that don't have credibility or backing from
• 2:19
  Speaker 1: higher institutions that provide safety to our community. I'll leave
• 2:24
  Speaker 1: it that. Y'all can cut it out if y'all want to.
• 2:28
  Speaker 1: But it's too much of it going. You can cut
• 2:29
  Speaker 1: it out. It's be a clippable moment. But I think
• 2:32
  Speaker 1: that's the reading the tea leaves. I don't want no
• 2:39
  Speaker 1: drama no, but I'm being honest, like even on the
• 2:42
  Speaker 1: spack side, even on the gofundmes to all that, Like,
• 2:46
  Speaker 1: I think it's it's been too much capital raised and
• 2:49
  Speaker 1: an easy environment to sell returns that are not likely
• 2:55
  Speaker 1: from even major firms.
• 2:57
  Speaker 2: So so who you were referring to, Jay Morrison? That
• 3:03
  Speaker 2: who you're referring to.
• 3:05
  Speaker 1: When I said it two years in going Vegas, my
• 3:07
  Speaker 1: mic got cut. So no, no, no, no, that was
• 3:11
  Speaker 1: the thing. It was technology from that other company.
• 3:16
  Speaker 2: Well, I think I think it's a teachable moment. Look,
• 3:19
  Speaker 2: you know, it's one of these things right where I
• 3:21
  Speaker 2: mean it's teachable moment. And I think that he I believe.
• 3:32
  Speaker 2: I believe he was in over his head and did
• 3:34
  Speaker 2: things and acted off of ego from I don't know
• 3:37
  Speaker 2: him personally, I met him three times in my life,
• 3:39
  Speaker 2: but it seemed that he had tremendous ego and a
• 3:45
  Speaker 2: lot of times when ego leads, when you lead with ego,
• 3:53
  Speaker 2: you fall into trouble, right, And then you you tried
• 3:57
  Speaker 2: to make up for your your mistakes with more ego
• 4:01
  Speaker 2: and more pride, and that just leads you into more mistakes, right.
• 4:06
  Speaker 2: And I think that you have to be extremely careful
• 4:10
  Speaker 2: when taking people's money. I never took anybody's money as
• 4:14
  Speaker 2: a financial avisit. I was the first thing I always
• 4:16
  Speaker 2: told people was that you're not writing a check to
• 4:19
  Speaker 2: shot me. Nobody ever wrote a check to Rashad blow
• 4:23
  Speaker 2: Fund or Rashad Balau Incorporated. I was an intermediate person
• 4:29
  Speaker 2: that would invest your money for you, infidelity, in black Rock,
• 4:34
  Speaker 2: in different mutual funds, life insurance, yeah, Frank Temple and
• 4:39
  Speaker 2: stuff like that, exactly. I was never responsible for actually
• 4:45
  Speaker 2: personally pushing the button and moving money around for people
• 4:50
  Speaker 2: and going into that bank accounts and different things of
• 4:53
  Speaker 2: that nature. So that's the first thing I tell people
• 4:56
  Speaker 2: is that when you're investing money, I'm not really a
• 5:01
  Speaker 2: big fan of investing money with a person. Yeah, right,
• 5:06
  Speaker 2: if you buy real estate, you should you should be
• 5:08
  Speaker 2: able to buy real estate direct. Now, not to say
• 5:12
  Speaker 2: that there are some crowdfunding platforms that have been successful, yes,
• 5:17
  Speaker 2: not to say that every single crowdfunding platform is a scam,
• 5:20
  Speaker 2: but that's one of the that's one of the things
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  Speaker 2: I think that you can learn from this lesson because
• 5:24
  Speaker 2: whatever happened, it's already happened. But it's like, how can
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  Speaker 2: we avoid these type of situations from happening again. Right,
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  Speaker 2: So as a consumer, I think that that's something that
• 5:36
  Speaker 2: you should be aware of, is not to invest money
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  Speaker 2: directly as opposed to, you know, having it done independently
• 5:45
  Speaker 2: or something that you're actually in control over. And I
• 5:49
  Speaker 2: mean I gave a Ted talk actually a few years ago,
• 5:53
  Speaker 2: and I said that you know, anybody that miss misappropriates
• 5:58
  Speaker 2: or abuses the trust of the peace people, they said,
• 6:02
  Speaker 2: it's gonna be held accountable. Not my job. I'm not
• 6:05
  Speaker 2: the police. I don't. I don't do the work of
• 6:08
  Speaker 2: the police because I'm not on pension. Right, you're not Chicago, Yeah,
• 6:14
  Speaker 2: I'm not. I'm not. I don't talk to the police.
• 6:21
  Speaker 2: A lot of a lot of people do, but I don't.
• 6:25
  Speaker 2: It's just personally the way that I was raised. I
• 6:28
  Speaker 2: don't talk to police and I don't do police work.
• 6:32
  Speaker 2: So don't ask me about Diddy because I don't know anything.
• 6:36
  Speaker 2: Tell you, right, And it's not my job to expose
• 6:42
  Speaker 2: the breaking scam artists of the decade.
• 6:45
  Speaker 1: But ultimately we got an obligation to protect people from
• 6:48
  Speaker 1: the bullshit though.
• 6:49
  Speaker 2: They're going to get exposed themselves, right, And it's always happened,
• 6:54
  Speaker 2: It's never That's why I said, I said this six
• 6:56
  Speaker 2: months ago, that there's no benefit of scamming somebody. Yeah,
• 7:00
  Speaker 2: and a lot of some people didn't fully understand. They're like, well,
• 7:04
  Speaker 2: the benefit is that you make money. What I mean
• 7:06
  Speaker 2: by that is that over the course of the time,
• 7:09
  Speaker 2: you're going to lose. You're going to lose more money
• 7:11
  Speaker 2: than you made, You're going to be sued, your reputation
• 7:14
  Speaker 2: is going to be disminished, and you might even actually
• 7:17
  Speaker 2: go to jail. So there's no benefit of it. Journey
• 7:19
  Speaker 2: made off is the biggest He's running the biggest scam
• 7:22
  Speaker 2: that we've seen, right, and he ended up dying in jail.
• 7:27
  Speaker 2: There's no benefit in it, That's what That's what I'm
• 7:30
  Speaker 2: trying to say. So, yeah, I mean, I'm not the
• 7:35
  Speaker 2: judge and jury here and I'm not a detective. But
• 7:40
  Speaker 2: if you will be held accountable by the people that
• 7:46
  Speaker 2: you and see your situation, I don't need to hold
• 7:51
  Speaker 2: you accountable. The people are going to hold you accountable.
• 7:54
  Speaker 2: And that's stronger than my voice. Ten thousand voices are
• 7:57
  Speaker 2: stronger than just my one voice. Right, So there's a
• 8:01
  Speaker 2: learnable experience for this whole thing, and it's it's unfortunate,
• 8:07
  Speaker 2: and you know it's it's something that unfortunately is gonna
• 8:13
  Speaker 2: happen again. It's human nature. It always happens. It always
• 8:17
  Speaker 2: happens over the course of time. But in the future,
• 8:24
  Speaker 2: I would advise anyone that is considering ego pride getting
• 8:31
  Speaker 2: a quick buck, I would highly advise you against it.
• 8:37
  Speaker 2: You can do whatever you want, you can disregard what
• 8:40
  Speaker 2: I'm saying, but if I were you, I would just
• 8:45
  Speaker 2: I would advise you not to go that route because
• 8:49
  Speaker 2: ultimately I don't think that it's beneficial. I don't think
• 8:53
  Speaker 2: that's worth it, and I think that you will. You
• 8:55
  Speaker 2: will pay a tremendous price for your transgressions.
• 9:00
  Speaker 1: Yeah. Also, they're no shortcuts. Like Secondly, if anyone approaches
• 9:07
  Speaker 1: you with anything, have them make you money for free.
• 9:11
  Speaker 1: That's always putting it. If I made you money, please
• 9:13
  Speaker 1: put y in chat. Most of y'all who made money
• 9:16
  Speaker 1: for me, you made it for free. So I have
• 9:20
  Speaker 1: no issues with our brother. Wish him well. There's a
• 9:23
  Speaker 1: lot of great things you can learn from him on
• 9:25
  Speaker 1: the marketing side, but you've got to deliver that actual return.
• 9:31
  Speaker 1: So y'all be careful. But also as a community, we
• 9:35
  Speaker 1: have to stop wanting the easy sensational thing.
• 9:39
  Speaker 3: Yah.
• 9:39
  Speaker 1: I don't like it when I say fifty pages, eighty pages,
• 9:43
  Speaker 1: study the market twelve hours a day, y'a'll be like
• 9:47
  Speaker 1: fuck that okay, cool shortcuts, short results. Man. So prayers
• 9:53
  Speaker 1: to everybody. I want no drama, no smoke. If you
• 9:56
  Speaker 1: see this, please don't think that I'm on that I
• 9:58
  Speaker 1: don't have time for it. I'm cool. But go master craft.
• 10:02
  Speaker 1: Go master your craft.
• 10:04
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