Kazak needs help!

NEW -> Contingent Buyer Assistance Program
Mendelssohn, please advise your friend Kazak to not touch the money, put it in the S&P 500 ETF if he wants the possibility of growth, since he is young, and leave it there as if he can't touch it. Work hard for the next 20 years, then start withdrawing from the ETF when he is his brother's age (mid 40s). $500,000 (U.S. dollars I assume) is an incredible head start for someone his age. Most people who are 50 and over don't have that much. Protect it like it's his life that's at stake (in fact that is how it is). His brother should almost be ashamed to ask Kazak for his share of the inheritance (if Kazak inherited $500K, didn't his brother also inherit $500K?).
 
Oh, in reading the first post I see that the older brother probably used his $500K to put down on the house and took out a $800K loan. I hate to use negative language but what an idiot. He became an overleverage homedebtor and now wants to take his younger brother's inheritance too as if it were his own. And make his younger brother pay partial property taxes, etc. The younger brother owes his older brother nothing. Don't even give the brother one red penny. Both of them have inherited $500K (if I'm wrong correct me), and the older one is blowing through his inheritance and the younger one still has his. Like Betty Ford once said, just say no. Please.
 
<p>Why is he asking a bunch of random strangers? He should ask someone like Greenspan (see link below)</p>

<p><a href="http://investing.reuters.co.uk/news/articleinvesting.aspx?type=tnBusinessNews&storyID=2007-10-01T113305Z_01_L01128951_RTRIDST_0_BUSINESS-GREENSPAN-HOUSING-DC.XML">http://investing.reuters.co.uk/news/articleinvesting.aspx?type=tnBusinessNews&storyID=2007-10-01T113305Z_01_L01128951_RTRIDST_0_BUSINESS-GREENSPAN-HOUSING-DC.XML</a></p>

<p>or look at the graphs himself</p>

<p>http://macromarkets.com/csi_housing/MSA/los_angeles.asp</p>
 
<p>Hahaha! Did I keep you guys in suspense? Hahaha. </p>

<p>Sorry but that's how I type. Look at my previous posts. I tend to type a sentence or two. Then follow up with another sentence or two. Hahaha. </p>
 
Reason, it's annoying. Please get your thoughts in one post. If it takes you hesitating before you post, then so be it.
 
acpme - No, I have never invested directly in Sprott or any other managed fund, but I have been long BRK.b which is alot like a managed fund, in that you don't have to think. I don't mean that as a put down, just reality. I prefer to manage my own money. My family prefers I manage their money, as do a few of my clients. Some of that money is in a Vanguard t-bill fund, but it is not managed.<p>




As far as losing in 07 while invested in precious metal stocks, that would be easy. If I had just held from May of 06 until a few months ago, I would have been down for the year, and Sprott uses option leverage. I would not base his performance on that one year. There was a nine or tenth month period that was not good for pms. I would look at his performance for a few years.
 
I have mentioned <a href="http://www.marketwatch.com/tools/mutualfunds/overview.asp?siteID=mktw&symb=CGMFX">CGMFX</a> several times before. Look at the YTD. Psshhh 20% is for people who failed to sell the homebuilders at the peak.
 
i would love to own a share of berkshire... i have a bit of wesco. what a dud. charlie munger is no warren buffett.
 
btw i was telling my gf the kazak story this morning. she said, why doesnt he just put the money in savings and help his brother pay mortgage with the interest. that actually sounded like a reasonable idea. giving 500k to the guy is like giving a hundred dollar bill to a bum and hoping he buys groceries.
 
IrvineCommuter, are you an attorney?





It appears to me that Kazak's brother and his wife are victims of a sophisticated fraud and thus lost a lot of money. I was told that there were more than a dozen victims around Irvine and Newport Beach, most of them Chinese (Kazak brother married a Chinese). There are more out there but refuse to cooperate because of privacy concerns.





The con artist was arrested in another unrelated case, but soon out on bail last year. This morning I was given the con artist's website, he is still in "business."


.


My question is, <u>can these people directly report their cases to FBI</u> since the con artist claims himself to be the Chairman of the US Senate Advisory Committee.


Oh, and if this group of people need attorney representation, could you refer some? Some of them don't have much money left though.








And to Fumbling, I am not qualified to tell Kazak how to invest. I have a friend who will draw a plan for Kazak and I'm also giving him phone numbers of several financial advisor.
 
<p>Unfortunately, I am an attorney </p>

<p>Chinese scaming or being scammed. . .that is so rare (sarcasm switch off). </p>

<p>Anyone can report potential crimes to the FBI. . .they are like police but for the United States. Another good place to go is California's attorney general's office. I do not have anyone I can refer you to. You can try the local county bar associations for referrals. If the case is good enough, some attorneys will be willing to take it on contigency (you know, "the classic you do not pay unless there is recovery" deal.) </p>

<p>Here are some general links: Good luck.</p>

<p><a href="http://caag.state.ca.us/consumers/">caag.state.ca.us/consumers/</a></p>

<p> <a href="http://www.fbi.gov/whitecollarcrime.htm">www.fbi.gov/whitecollarcrime.htm</a></p>

<p> <a href="http://www.ocbar.org/">www.ocbar.org/</a></p>

<p><a href="http://www.lacba.org">www.lacba.org</a></p>
 
You must log in or register to reply here.
Back
Top