
A Ponzi scheme uses the investments of later participants to fake profits to earlier ones. Sooner or later, all Ponzi schemes collapse from their inability to generate enough new investment to pay older investors.
There’s been a cautionary tale running around the news this week. It makes me think of something the Oracle of Omaha once said. “You cannot build a good career with bad people.” This statement has been interpreted as “You can’t make a good deal with bad people.”
I don’t know enough about Clayton Morris to make a value judgement on his character, although his career as an entertainer on Faux News does not earn him any brownie points in my book.
Morris left Faux News to form a turnkey investment company that buys, renovates, and manages rental properties for investors. There are a number of companies that do this job well, but you are always taking a big risk when you invest in a property you may never see. Continue reading
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