Search found 20 matches

by LonScott
Fri Dec 08, 2017 10:16 am
Forum: Investing - Help with Personal Investments
Topic: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]
Replies: 27
Views: 4883

Re: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]

from another source: ELDERLY INVESTORS Jeff Sonn, a plaintiff's lawyer, said he had six elderly clients, ranging from their seventies to nineties, who collectively had invested millions of dollars into Woodbridge investment programs. "This came as a shock to all of them," Mr. Sonn said, adding that ...
by LonScott
Tue Dec 05, 2017 12:33 pm
Forum: Investing - Help with Personal Investments
Topic: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]
Replies: 27
Views: 4883

Re: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]

If anyone is following this: "Woodbridge Group of Companies LLC, a high-end real estate developer, filed for bankruptcy amid the departure of its chief executive and an investigation into potential securities fraud linked to $1 billion in investments." https://www.bloomberg.com/news/articles/2017-12...
by LonScott
Wed Nov 08, 2017 10:58 am
Forum: Investing - Help with Personal Investments
Topic: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]
Replies: 27
Views: 4883

Re: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]

The SEC warning is a good indicator, but most creative real estate speculators would argue that a undivided note isn't a security that's regulated as an investment... Buyer beware! Woodbridge filed SEC schedule D (private placements) for four investment funds. So I am not sure why these are not inv...
by LonScott
Wed Nov 08, 2017 10:25 am
Forum: Investing - Help with Personal Investments
Topic: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]
Replies: 27
Views: 4883

Re: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]

I googled First Financial Tax group. The person running the company is Barry Kornfeld. He was apparently sanctioned by the SEC in 2010. I would stay away. https://www.sec.gov/litigation/admin/2010/34-62466.pdf Good catch! It seems Mr. Kornfeld is not an investment advisor nor a broker anylonger. Th...
by LonScott
Sun Nov 05, 2017 2:31 pm
Forum: Investing - Help with Personal Investments
Topic: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]
Replies: 27
Views: 4883

Re: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]

If anyone is following this, the firm offering this "investment" Woodbridge Wealth has received two SEC similar demands this year: "Securities and Exchange Commission v. 235 Limited Liability Companies, No. 1:17-mc-23986-PCH (S.D. Fla., filed October 31, 2017) SEC Seeks Order Against 235 Entities Af...
by LonScott
Thu Nov 02, 2017 8:52 am
Forum: Investing - Theory, News & General
Topic: Ken Moraif must be getting nervous
Replies: 43
Views: 11032

Re: Ken Moraif must be getting nervous

I do not believe he got in on April 13 2016 because he did an interview on CNBC Wed, 22 June 2016 "Dow 11,500 is a matter of when, not if: Advisor" https://www.cnbc.com/2016/06/22/dow-11500-is-a-matter-of-when-not-if-advisor.html Since he wiped out his inaccurate email history, we have no idea when ...
by LonScott
Sun Oct 01, 2017 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 6353

Re: Question About Long Term Care

The issue of large premium is usually never addressed by insurance agents, since this is a product with commissions and fees that are not transparent. CA has a database of requested and approved increases by insurance company for all states. Only three have never raised premiums. http://www.insuranc...
by LonScott
Sun Apr 30, 2017 11:47 am
Forum: Investing - Theory, News & General
Topic: Ken Moraif must be getting nervous
Replies: 43
Views: 11032

Re: Ken Moraif must be getting nervous

I am very disappointed Moraif has wiped out his past email predictions for 2016, but more disappointed the financial media still uses him as an interview without mentioning his 2016 prediction. What is his allocation now? Is he back into stocks? Is he now selling annuities? Actually for his gullible...
by LonScott
Sun Apr 30, 2017 10:00 am
Forum: Personal Finance (Not Investing)
Topic: When to consider Long Term Care Insurance
Replies: 38
Views: 3389

Re: When to concider Long Term Care Insurance

I will never consider a product with undisclosed commissions were Ins. companies can raise rates at any time. http://www.insurance.ca.gov/01-consumers/105-type/95-guides/05-health/01-ltc/rate-history-inactive.cfm http://www.insurance.ca.gov/01-consumers/105-type/95-guides/05-health/01-ltc/rate-histo...
by LonScott
Sun Apr 30, 2017 9:58 am
Forum: Personal Finance (Not Investing)
Topic: I read Boglehead posts on LTC ins. Has anyone made a claim yet? How'd it go? Claims paid?
Replies: 36
Views: 5236

Re: I read Boglehead posts on LTC ins. Has anyone made a claim yet? How'd it go? Claims paid?

California's http://www.insurance.ca.gov/01-consumers/105-type/95-guides/05-health/01-ltc/rate-history-inactive.cfm http://www.insurance.ca.gov/01-consumers/105-type/95-guides/05-health/01-ltc/rate-history-active.cfm Here's a link to the Connecticut Insurance Dept LTC Rate Increase filings page if a...
by LonScott
Mon Mar 21, 2016 9:49 am
Forum: Investing - Theory, News & General
Topic: Ken Moraif must be getting nervous
Replies: 43
Views: 11032

Re: Ken Moraif must be getting nervous

Thank you for keeping this thread going. I cannot find Ken's update for 3/20 but he has been tweating(I wrote tweaking!) about other subjects. Based on the Marketwatch article, it seems his asset allocation tends towards stocks. However on a 3/15 website post he writes: " I think we’re still in...
by LonScott
Tue Feb 09, 2016 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Health Savings Accounts: Factual Errors in Wiki
Replies: 23
Views: 2510

Re: Health Savings Accounts: Factual Errors in Wiki

Thank you. This was my mistake for trusting those sites, and not doing the research. I apologize to all. Since I am one of the approximately 16.5% of the US population where my state has not conformed with Federal law, HSA taxation is a sore spot. In one state, public labor unions are against HSAs s...
by LonScott
Tue Feb 09, 2016 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Health Savings Accounts: Factual Errors in Wiki
Replies: 23
Views: 2510

Re: Health Savings Accounts: Factual Errors in Wiki

You are correct according to this article near the end: m However, one cannot stretch a HSA with a non spouse beneficiary. That seems to be omitted from most discussions on HSAs, and one of my main points along with the state taxation, which we all agree is done by CA, NJ and AL. I wrote to TN for c...
by LonScott
Tue Feb 09, 2016 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Health Savings Accounts: Factual Errors in Wiki
Replies: 23
Views: 2510

Re: Health Savings Accounts: Factual Errors in Wiki

HSAs differ from IRAs as their is no stretch for non spouses. This is how I wrote it on wikipedia with references: When a person dies, the funds in their HSA are transferred to the beneficiary named for the account. If the beneficiary is a surviving spouse, the transfer is tax-free. If the beneficia...
by LonScott
Tue Feb 09, 2016 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Health Savings Accounts: Factual Errors in Wiki
Replies: 23
Views: 2510

Re: Health Savings Accounts: Factual Errors in Wiki

I changed the HSA to delete both NH and TN. I am going to write to TN to confirm that HSA earnings are exempt. I can confirm Grabiner's interpretation that HSA earnings are exempt from the New Hampshire (NH) Interest and Dividends tax. This is based on direct communication with the NH Department of ...
by LonScott
Sun Feb 07, 2016 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Health Savings Accounts: Factual Errors in Wiki
Replies: 23
Views: 2510

Health Savings Accounts: Factual Errors in Wiki

A recent article on Health Savings Accounts m moved me to research the taxation of accounts, and there appear to be errors in the Wiki. Rather than apply to be an editor, I am hoping someone will check my facts, and make changes on the wiki. Section 1.2 State taxation: besides CA, NJ and Al taxing b...
by LonScott
Tue Jan 05, 2016 1:05 pm
Forum: Investing - Theory, News & General
Topic: Ken Moraif must be getting nervous
Replies: 43
Views: 11032

Re: Ken Moraif must be getting nervous

Moraif buy hold sell, buy hold sell makes him a lot of money on customer transaction costs. Watertree Since Moraif is no longer a broker (to get around FINRA rules?), he does not make money on buying and selling. He charges Assets Under Management only. His selling point is this defensive timing st...
by LonScott
Mon Jan 04, 2016 4:23 pm
Forum: Investing - Theory, News & General
Topic: Ken Moraif must be getting nervous
Replies: 43
Views: 11032

Re: Ken Moraif must be getting nervous

Lon, Is that a quote from Moraif's newsletter? I do not know if his ads have always been on radio, but they just seem constant now, always telling about his seminars being offered. Maybe I never noticed them before. Yes, it is directly from his website which to his credit is available at no charge!...
by LonScott
Sun Jan 03, 2016 3:03 pm
Forum: Investing - Theory, News & General
Topic: Ken Moraif must be getting nervous
Replies: 43
Views: 11032

Re: Ken Moraif must be getting nervous

Thank you for your reply. I still think the Barron's list is bunk, as Ric Edelman is on it along with Moraif. Moraif is calling for a Dow 11,500 this year. 1/2/2016: "the fearless forecast for 2016 is that the Dow will hit 11,500. This year’s fearless forecast is particularly nerve-racking beca...
by LonScott
Tue Dec 08, 2015 2:34 pm
Forum: Investing - Theory, News & General
Topic: Ken Moraif must be getting nervous
Replies: 43
Views: 11032

Re: Ken Moraif must be getting nervous

"By selling on August 21st or 22nd, folks side stepped that big drop on the 24th. Next question is, when did he instruct his followers to move back into stocks? If he did so at the recent market low point of 9/28 or 9/29, then they made out OK. We need both sides of the timing card for proper e...