Posts Tagged ‘stock brokers’

Protect yourself from Bad Brokers. Red Flags to watch out for

Posted December 30, 2008 by Bernz

How is it possible that thousands of clients could be scammed by one money manager? It’s a terrifying thought. But Bernard Madoff, a money genius and perhaps the biggest money manager swindler in history has eluded the SEC and his client’s for decades. Click here to read the latest details in the Wall Street Journal.

Surely there were red flags. That’s always the case, but people tend to look red flags even when they have a gut feeling something is just not right because they don’t have knowledge or experienced to substantiate their uneasiness. I’m sure in hindsight; many of Madoff’s client’s can think back and pin point when they first felt something was not right.

In recent postings I’ve been discussing brokers, specifically how to find them. Now I think is a good time to explain the flip side of the coin: What dangerous signs to watch out for:

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