I just might, for the lulz. I am a fully committed Boglehead now with my portfolio in VTI, VOO, VXUS & BND. Could you DM me the links to their FB & Telegram groups, please?Invictus002 wrote: ↑Sun May 16, 2021 2:50 pmCouple of things, it looks from public sources, these are the same people from KS.Zillions wrote: ↑Sun May 16, 2021 1:50 pmThe founders' "qualifications" are an MBA in Finance, an MS in Computer Science, and courses in "FinTech" from Harvard X, respectively. The site says nothing about actual experience running a hedge fund or employment with an established mutual fund. And the SEC filing for Main Guy claims one license and a year's worth of associated "experience". A far cry from the 100% returns he promises every year.Invictus002 wrote: ↑Sun May 16, 2021 12:21 pm Omg! This guys has checked all checkboxes for a shady ponzi like scheme.
I took some time to do some research, they complicate an iron condor on SPY or QQQ to generate premiums. This can be done without the extra complications and lesser steps.
If they are real pro (which they claim), they will trade $SPX/$NDX with a better tax treatment than SPY/QQQ.
Few things:
1. Shared it with real prop/wall st traders with decades of wall st, experience, they laugh at these guys.
2. The 3 founders of this company have no background or experience in finance/trading. In their webinars, they sound like amateurs at the best.
3. The free tips this company gives are over complicated.
4. These strategies are not scalable, they might work for smaller accounts.
5. The company tries to capitalize on the upper middle class ethnic/country (India) group that's growing fast in USA.
*** these are his sole clients*** . I saw how they encourage novice people in their community, for instance, they encouraged a couple with 1 month trading experience to start a new hedge fund!
6. Their charitable organization looks so shady and the webinars sounds phony, targeted for the Indian group.
7. His secret hedge fund - has all characteristics of scam. Seems, one can take the profits from his hedge fund and invest it with his own real estate arm and charitable organizations for better tax treatment! Simply, he means, redemption is hard.
8.I watched few webinars where they are pitching, super high fee universal life insurance, pooled real estate investments (with their company), CPA services to setup S-Corp for trading, getting qualified trader status with IRS, charity to get some tax benefits and all kinds of stuff for investing small amounts such as $100-$250k range. VTI will yield better results in long run without doing these things.
9. Seems, their hedge fund uses think or swim and interactive brokers to trade, not sure why not Robinhood! Lol!
10. Wall st would be after these guy, if he returns 100%, but they are not, so that gives us a clue.
11. This company or the guy has no records, leave alone track record. They operate from their house address, not know of any hedge funds that operate out of residential address.
Hmmmmmmm. Ok. These guys are either supremely over confident or they're conmen.
Don't know about the tax warrant issues to the main guy. He & his wife (?) both seem to have fairly common South Indian names, so it may not be them. Main Guy seems to live in Frisco, TX, while warrant is from KS, but it still doesn't bode an auspicious start.
My question, though, is why they haven't been investigated yet? Is it because no scam has actually been perpetrated?
SEC investigations take a long time and they are not public. These kinds of companies are usually investigated by SEC, FBI, IRS, US Postal Inspectors, CFPB and local law enforcement in coordination.
... and SEC/FBI will not usually spend time unless these guys run into several millions of scam, IMO, though they claim, their hedge fund at $950M, it's not believable.
This looks more like a joke to lure in not much informed Indians in US investors.
Watch their publically available facebook group videos, you can figure out lots of funny, unsophisticated acts.
Join their telegram group, it's another joke.
It's really sad if they're actually trying to hoodwink / swindle their compatriots. Greed is a nasty thing.
How is it known with any certainty that these are the same people as the couple in KS? I doubt any public sources list their DOBs or SSNs? Just curious, that's all.