Category: Investing
Bond Funds: Be Careful, They Can Make Speculative Stocks Looks Safe
The investment herd is stampeding into bonds and fleeing stocks. The first lesson the late William Stanley of Norwich, a smart and honest stock broker, taught me 40 years ago was to go against the herd if you want to succeed. The problem – proven time over time – is that once the herd starts moving it [...]
Former Wesleyan University Investment Director Sued By Atty Gen For Misusing Assets
Attorney General Richard Blumenthal is suing Wesleyan University’s former investment director and three private companies for allegedly misusing university endowment assets for personal trips and other inappropriate expenses. Blumenthal’s lawsuit alleges that Thomas Kannam, when he served as Wesleyan’s chief investment officer, failed to disclose his ties to multiple investment groups, including Belstar Group, LLC, [...]
Investors Urged to Speak Out in Favor of Strengthened Investor Protections
Comment Deadline Looms for SEC Study of Standards that Should Apply When Investment Professionals Recommend Securities With just two weeks remaining before the deadline for submitting comments on the Securities and Exchange Commission’s study of the standards that should apply when investment professionals recommend securities, CFA Director of Investor Protection Barbara Roper called on investors [...]
BOOK REVIEW: Dave Lieber’s Watchdog Nation
Book reviewer Maggie Dwyer writes that since she has turned to the award-winning book, Dave Lieber’s Watchdog Nation: Bite Back When Businesses and Scammers Do You Wrong, ”I have changed my phone company, my electric company, and my Internet service. In those few acts alone, I’ve paid for the book several times over.” In this review, she gives many examples about how this book has changed her life and those of her friends for the better. She’s a true citizen of Watchdog Nation!
Life Settlement Investments: Keep Eyes WIDE OPEN
Imagine in this age of financial scandal if your financial adviser sends you a “Dear Client” letter informing you that the company he urged you to invest $50,000 in has been shut down. But, he writes, you should feel no obligation to cooperate with investigators. And he coaches you on what you do NOT have to say. That’s what happened to clients of a Texas financial adviser when a life settlement company was shut down by the state. Watchdog Nation founder Dave Lieber shares the details.
Misleading Marketing Postcards Hurt Consumers
You know those marketing postcards you get in the mail? Here’s one that scared people for no reason. It took CtWatchdog contributor Dave Lieber more than a month to track down the sender — and find out exactly what he was selling.
ETF Tax Traps: Watch Out For Currencies And Commodity Exchange Traded Funds
Exchange Traded Funds (ETF) can be great investment vehicles, letting you tailor your investment with more precision – and frequently with less expense – that mutual funds. Many can also reduce your tax bill. However, these financial instruments which represent a basket of assets that trade like stocks, can take a bite out of you [...]
Insurance Broker Must Protect Client, Court Rules In Landmark Case Brought By Ct AG
Attorney General Richard Blumenthal announced today a first-in-the-nation court victory declaring that Wells Fargo’s insurance arm broke the law when it failed to tell consumers about hidden kickbacks the company was paid in exchange for favoring a group of “preferred” insurers. The court ruled that insurance broker Acordia, Inc., now owned by Wells Fargo, had [...]
Bill Stanley, Pride Of Norwich, Passes Away
Bill Stanley, a former state senator, an unabashed booster of Norwich, an incredible financial adviser, a man who was unafraid to take unpopular stands, and a dear friend, has passed away at the age of 80. I first met Bill in 1970 when I moonlighted as a tax preparer to augment our income and he [...]
Westport National Bank, Wilton Money Manager, PSCC Sued In Ponzi Scheme
Attorney General Richard Blumenthal today sued Westport National Bank, a Wilton money manager and his company seeking to recover $16.2 million for investors in Bernie Madoff’s Ponzi scheme. The lawsuit, filed in cooperation with Department of Banking Commissioner Howard F. Pitkin, charges the bank, Robert L. Silverman and his company PSCC, Inc. with multiple violations [...]
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