So I stop by to shoot the breeze with a co-worker and he tells me of this friend he had in college who is making a crazy amount in the stock market (25%), when the friend offered to invest his(co-workers) money and guarantee his principal for a period of 6 months, in which he would take a small cut for his services and give my co-worker the rest of the gains. I then informed him that was the very definition of Ponzi scheme.....unfortunately, my co-worker is just out of college so he is very naïve and said he is going to give the guy money. This was after I told him he was a moron for doing so.
Anyone else been approached by someone touting a deal like this?
Update: now the guy told my co-worker that he will give him $6,400 in 6 months for 4k now
This post was edited on 9/9 at 12:40 pm