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People will spend weeks researching the purchase of a car or a computer but hand over millions to a flashy stranger who promises them the moon. Awful.Comment -
I thought you meant our own JakePeavy here at sbr.... whew.....Comment -
Long freaking article, and barely touched on the financial part. Just said it was some Ponzi scheme somebody in his church group touted. Way too much of a human interest story.
I'm confused too, because if there are Ponzi schemes going on right now, they're still alive and well because the economy hasn't officially crashed yet. Those schemes usually only get exposed and people lose money when everything goes
up.
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When the scheme cannot find new money because of economic restraints it all falls apart. Sad.Long freaking article, and barely touched on the financial part. Just said it was some Ponzi scheme somebody in his church group touted. Way too much of a human interest story.
I'm confused too, because if there are Ponzi schemes going on right now, they're still alive and well because the economy hasn't officially crashed yet. Those schemes usually only get exposed and people lose money when everything goes up.Comment -
He got suckered in like a lot OC fools by the Jesus thing.
Gents, it's made up, not real, and was created by the powerful to control the weak, meager and poor. Keeps them from uprising.
An invisible magical kingdom in the sky? You gotta be some kind of special to believe the bullshit.
In the end, you can't fix stupidComment -
I don't think the religious connection to this was very strong. The go-between just happened to be a friend through the church. Meh.
If you're really "diversified", it doesn't mean different stocks. It means having parts of your money in cash, metals, land, and then a financial guy. Biggest mistake Jake made was not doing that. You have no idea if your financial guy is shady, and you won't until it's too late. Gotta know how to hedge.Comment -
tough stretch for Peavy but sounds like he did not invest all of his money..
that is rough when you get taken advantage of by someone you thought was a friend. It has happened to me before...you never know what people will do when there's money involved...Comment -
Sad storyComment -
Very sad, too many stories of former pro athletes out there who were victim to a trusted advisor scamming themComment -
So his wife left him when things got tough after she didn't have to work a day in her life bc of him.
Sounds about right.Comment -
Did it say he made around 162 million career wise? Not bad.Comment -
Too many people this will sound harsh... but I never feel sorry for anybody that trusts their money with somebody else. Old people, Rock stars, Actors, the list is endless. If you don't have enough interest to manage your money, maybe you should donate it.
IT does not take much effort or knowledge to invest in a low fee index fund... Greed is what makes people think they can beat the stock market and trust other people.Comment -
You fukked up. You trusted us.
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Pretty sure he cheated on her numerous times on the road, and she got sick of it. Plus, his wife was not some gold digger. They were together since HS and had 4 kids together. If you cheat on your wife, you deserve all the crap you get.
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Vanguard FTW. Dipshits want 35% returns on the reg.Comment -
not here to e-fight with you and I'm not a bible-thumper myself, but...want to address this.
that is a very ignorant view implied within your rhetorical question there.
Ever heard of "heaven on earth"? "hell on earth"?
The way I understood the concept of heaven in the bible, in simplified terms,...is the earth was meant to be heaven. Earth and mankind became corrupted, and thus we don't live in a perfect world.Comment -
The SBR Poster? Or the pitcher?
Danny...honestly, your point is a good one. Taking Care of Your $$ is one of THE best lessons to learn. Unfortunately, u may need to endure a mishap or two to REALLY learn it.Where's the fuckin power box, Carol?Comment -
I too trusted the wrong person with money many years back. It was a lesson learned.Comment -
I just read the end that said he owns a recording studio, two bars, and just purchased an entire city block
I think he’s gonna be okComment -
They ruined his lifeComment -
If you've never seen George Carlin's rant on religion then you've never seen a great comic at work. This 9 minute you tube clip is well worth the wait.
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