Bylo you posted this before I got the chance too. Read this early this morning and thought what the Fu$k. It's getting really sad what people will do for a return on their investment. They will do anything for a profit. The Fu$king greed that goes on is incredible.
That's hilarious coming from you. I'd say you're probably a low rung slave of Wall Street, so it's understandable you'd object to my pointing out the scumbaggery of Wall Street.
A couple of years ago, there were agents all over florida trying to sell these schemes during seminars for old people. My Dad was solicited very hard. They tried to hook him in by selling him the policy, using their commissions to pay for the first year to year in half of the policy. They said he might have to pay for about six months and then he could flip it out for 400 grand. However, they did not put their offer in writing so my Dad said he would not sign.
ByLo - you seem to have a knack for finding these articles. Why don't you create a blog other than ET where all of this stuff can be centrally posted?
99% of them are front page Bloomberg articles - not that hard to find unless one is delusionally optimistic and myopic. See, it took me less than 4 seconds to find this one on Bloomberg based on your prompting: Equity Fund Outflows Surge, $4.29 Billion From U.S. (Update1) Share | Email | Print | A A A By Jonathan Burgos and Garfield Reynolds Sept. 4 (Bloomberg) -- Investors withdrew a net $4.95 billion from equity funds and added $5.06 billion to bond funds in the week to Sept. 2, amid concerns about the strength of a world recovery, EPFR Global said in a report. âThey struggled to make the connection between equity markets at 10 to 12 month highs and a global economy that has digested the bulk of the fiscal stimulus packages served up in recent months but continues to shed jobs,â wrote the EPFR... Investors Pulled $4.95 Billion From Equity Funds Last Week, Added to Bonds http://www.bloomberg.com/apps/news?pid=20603037&sid=a1xw4v9Kwxss
"new exotic investment"??? LOL. they've been around for over 10 years. i have owned some for nearly 3 years