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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: anniebonny who wrote (105799)1/17/2009 5:02:30 AM
From: Jeffrey S. Mitchell  Read Replies (1) of 122088
 
It absolutely would work. I said "mockingly" because even though the idea is technically brilliant (as long as you do not get caught) I didn't want to sound like I was endorsing what he did.

There's an old Steve Martin joke: "How to make a million dollars: First, get a million dollars..." the point being that, yes, it is somewhat absurd to think many people have the ability to copy the guy even if they wanted to. But, assuming you did... and assuming you didn't get caught... you could probably carry the scam on until you die. After that, who cares? :)

Basically the key is to maintain a strict accounting on your outflows. The best "investors" would be the younger ones saving for their retirement where you knew they'd be adding to their account over time not depleting it. Second would be charities since they typically operate off the interest while replenishing it each year. Your profit would be whatever money you could comfortably raise above and beyond your outflow. By "comfortable" I mean that each year you'd have to calculate ahead of time your likely outflow based on taking on more money (since you are paying people based on their cumulative paper gain) because the big killer would be growing too fast. Hence, you'd need to close the fund now and again.

Now if I just had $10M, you wouldn't tell, right? :)

- Jeff
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