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HS 406 FBF – The Original Ponzi Scheme & How to Spot Bad Deals with Mitchell Zuckoff

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Today’s Flash Back Friday comes from Episode 241, originally published in January 2015.

Today’s Holistic Survival Show sees author, Mitchell Zuckoff, as guest to describe how a straightforward swindle was transformed into months of notorious money-making in the hands of Charles Ponzi. We can learn a huge amount from the history and the figures, but Jason Hartman also steers the discussion into a more contemporary tone, asking Zuckoff for his advice on identifying bad deals and how to avoid getting sucked in.

Key Takeaways:

1.57 – Mitchell Zuckoff takes us through the past of the man who characterized Ponzi schemes

06.34 – Swindles have existed for centuries, but what makes a Ponzi scheme so specific?

11.57 – Strangely, there is evidence to suggest that Ponzi’s intentions weren’t even as swindling as presumed

17.34 – The success Ponzi had in such a short time is really mind-boggling. Consider inflation as well and you can understand why he gained such notoriety

18.08 – It’s important that we learn from these aspects of history to not get caught up ourselves

22.25 – Unbelievably, people are still getting caught up in scandals involving money in Nigeria. What definition of skeptical do these people live by?

Website:

www.MitchellZuckoff.com

Episode: 406

Guest: Mitchell Zuckoff

iTunes: Stream Episode

Download: MP3