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Twitter first Ponzi?


PlanMaestro
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If you are in Twitter, you probably have heard of him and the Davian Letter. Fund suspended operations and Twitter account is down.

 

http://sirf-online.org/2013/07/15/the-erstwhile-hedge-fund-king-of-akron-ohios-very-hard-summer/

 

@Hedgieguy tended to boast his enviable lazy lifestyle and the "track-record" had a way to show up way too often.

 

https://www.youtube.com/watch?v=05-Bl4WV91E

 

His Twitter account celebrated his "successes" with a parsed disclosure of failures to look human. Of course perfect trading usually covered his tracks. All these while battling the industry smidiots and trying to connect to people like the rest of us. Usual stuff.

 

If true, good job Roddy Boyd. If not true, still a profile to avoid.

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Guest wellmont

::)

 

"We believe that at its core, HLF is nothing more than a pyramid scheme. While

the company does in fact sell a product, the question is whether they provide an incentive for their

“distributors” to sign up more and more people. This is actually one of the major deciding factors

of whether a company is an actual pyramid scheme or a“multi-level marketing (MLM).” We believe HLF operates outside of this rule and does in fact provide incentives for distributors to add more and more people below them. HLF trades with a 14 price to earnings multiple and we think this is way too rich given the risk involved with this business model. We feel that over time the pyramid will collapse and the equity will be worth little to nothing."

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The newsletter generates profits of “several hundred [thousand dollars] annually,” Davian wrote, implying that by the fall 2012, he had at least 2,000 subscribers. (In fact, the newsletter never earned more than than $30,000 a year.)

 

Still a decent amount of money for a college fraudster!

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