5 Common Investment Scams (And How to Avoid Them)

There are plenty of scams out there, especially in the world of investing - today we go over 5 of them so you can better avoid them in the future.

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DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution, although Richard does work as an employee for an investment manager. Richard Coffin is not registered to provide investment advice and as such does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a registered professional. Richard is not responsible for investment actions taken by viewers.

[Lord_Falcon]

I don't worry about scams anymore. I'm set for life anyway since I helped out a Nigerian Prince that contacted me by email.

[spencergardner]

Literally the next ad after this video: "There's an investment secret that no one seems to know about!"

[Endeva]

Just remember folks, if someone has figured out a way to make a lot of money the absolute last thing they are going to do is tell you how to do it too.

[fernandosacchetto]

I like to operate under a very simple rule of thumb: if the opportunity found you rather than the other way around, it's 100% a scam. This includes stuff you "found" because it's been widely advertised and made easy to find.

[gamingguruk]

"Give me $2, 000 and I will tell you how I got rich."
*Naive person hands over money.*
"That's how I got rich."

[Sutterjack]

I love that people selling programs to make incredible wealth with their "system" have already made so much wealth themselves that they decide to "retire". They woke up one day with a altruistic desire to help people become wealthy like them - such good people!

[alexc]

Nah they don't cost 2 grand, they cost $1999

[tyvid]

Great video. Not only do we have problems with scammers, we have many of what I call 'exaggeraters'. So many YouTubers claiming they have ways you can make money online, only to be something that millions of others are doing as well. It is only when you drill deeper we see that there are multiple layers of additional skills you need to learn and many tools that cost $$$$, plus a ton of commitment, hard work, intelligence and luck. In the meantime, these YouTubers often have courses you can sign up for, and earn a stack of money with their many money making videos. But the reality is that less than 4% of YouTubers make money. The rest of us are often wasting a lot of time and money chasing a dream that never eventuates, but validate these YouTubers with praise and compliments for their wisdom.

[khusseinkhomeini]

This is all well and good but Richard, you never said where I should send you the 2 grand and my kidney.

[jenglot]

For you who are wondering what is in the 1:10
Flash Disclaimer
"LEGAL
Richard is not liable for people not being able to turn 4 cents into one million dollars.
Returns are not guaranteed.
It's highly probable you'll lose money on this program...that's on you.

[thetooginator]

My rule of thumb is that if someone seems even a little desperate for me to participate in something, I run away - especially if I don’t know them well. The more pressure I feel, the faster I run.

[robertmittoniii]

My uncle took a course on real estate that basically did nothing more than teach it's students how to flip houses in the real estate boom. He actually became super wealthy doing that but the 08 bubble burst almost did him in.

[nites]

Pump & dump is a big issue in small and illiquid markets. In Argentina, brokers, journalists, and even the stock market officials will collaborate to do it. As a result, people are driven away from the market, which keeps getting smaller and smaller as a result.

[TheIcelandicInvestor]

Is it just me or are these scammers getting worse on Youtube?

[anishdhakal]

Whenever you're approached with any transaction you simply have to ask, what's in it for the other party. The legal term is 'consideration'. If they don't seem to have any benefits, its almost certainly a scam.

[xaviergutierrez]

I had a buddy in high school who joined a pyramid scheme of a group posting stock calls to either invest or sell. The introduction was weird with “You bring people and you get a tier upgrade and *blah blah*” all this for [few hundred]. Said yeah nah this isn’t for me I didn’t feel like it was legit especially if I couldn’t get a clear answer. I remember them ending the call “investing isn’t for everyone” -.-

[berry]

the best is DONT trust anyone, do your homework, dont let them push you around and take your time - it still be there tomorrow and if not - no big deal

[theondono]

In Spain, one of this ‘fake gurus’ has gotten to the point that brokerage houses pay him to keep printing books and courses because his “daytrading strategy” involves opening and closing *the same position* (a highly leveraged one obviously) throughout each single day, which is great if you are the one collecting the transaction fees..

[DrGeneralkumar]

Reminds me of that Tai Lopez clown. "Look at all my Lamborghinis... and 7 book shelves of umm.. books... 2000 books.... mostly coloring books but yah. Knowledge!"

[lonzo]

This fellow is providing a valuable public service. I have watched several of his vids, and they are packed with good information. And this one got some chuckles out of me. Thanks, Plain Bagel.