Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Andy Thomas who wrote (198666)	10/18/2002 10:21:05 PM
From: mishedlo	Read Replies (2) of 436258

Actually it's not the refi business that is interesting its is the selling of the refi idea as a way of making money. It is a pyramid. The person that called me (if I joined the pyramid) would get some sort of % of what that customer was worth to C. I in turn would be "trained" and would call others and do the same. They in turn would do the same. I think you get the idea. Now instead of Just C, I had two other places offering a "business" idea to potentially make 50K/year (of course depending on how many clients I brought in and how many those under me brought in etc etc). Note: I keep saying C but it is some division or spinnoff of C. I forget cause I went to the seminar last March and will not talk to the clowns anymore except to ask if thay are affiliated with C or somone else. The last one was MSDW and that was yesterday. Everyone that goes to these seminars might just decide to skip the business portion of it and refinance with C under the "umbrella" of a complete package (insurance, stock advice, mortgage refinance, .... Financial Planning). They were willing to pay for me to get a brokers license (is that what I mean or do I mean financial planning license, whatever it takes to be able to recommend stocks) BUT .... I was told I could not be trained to conduct the business properly. Why? Because I told the person at the seminar that averaging into the S&P 500 was a loser. Their best financial planning advice was that stocks go up over time and that people should be averaging into the S&P 500 with EXPECTATIONS of returns at 10% a year. Compounded thay showed how taking $ out of your house and throwing it into the market would pay off handsomely over time. That is the advice being doled out. There are literally hundreds of people being trained every month to tell people to keep averaging into the S&P. Each one that brings in a new client gets a slice of the action. I told them the only part that made any sense was paying of their credit cards immediately. That of course made me untrainable. M

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