SEC Tags Investment Seminar Salespeople

Don’t believe the rumor of a shortcut

“I can teach you how to be a millionaire by following my five simple rules of stock market investing.” Pitchmen galore make a version of that promise hundreds of times every day, in television and radio ads, in print advertising, and on signs placed on street corners. Ask yourself this question: if they are good enough at whatever it is they promise to teach you how to do, and that something makes money, why don’t they just get on with it and make their millions instead of taking a couple hundred dollars from you? There is no satisfactory answer to that question. Yet, such investment seminars continue to make millions, a few hundred dollars at a time. The SEC recently concluded enforcement actions against two such characters. According to the SEC’s press release: (more…)