Member-only story
This Happened to Me
Would You Fall for This?
The cleverest financial scam and a life hack that will protect you.
Imagine that someone calls you one day and promises they can make you money — guaranteed.
The well-spoken person has a plausible reason for getting in touch — they have done their research and may mention the name of someone you know who has given them your number and suggested they contact you.
They are not selling anything (yet). They tell you that they are an investment firm with an algorithm that is beating the stock market, and they are only inviting a few people on board at this stage. They say they don’t want you to invest yet — they want to prove to you that they know which stock will rise, and they will give you the name of a stock and its current share price, which you can look up. They say they will call you in a week when the share price has increased.
Sure enough, you check the share price. And in one week, the share price has indeed risen. Maybe you invest with them at this stage, or perhaps you are suspicious and don’t.
If you don’t, they tell you they understand you need more proof, so they will give you the name of another share. The following week, the share price has risen.
