HYIP Scams
Feb 12th, 2006 by Martin Lee
In my previous post, I mentioned about one form of ponzi scams. These also fall into the category of High Yield Investment Programs (HYIP). You can do a search for “HYIP” on the internet and find many such programs.
Again, a word of caution here. Anything that promises you anything close to 10% daily returns (or even less) is simply not sustainable in the long run.
At a rate of 10% daily returns, $1 will compound into $17.44 after 1 month; $34 million after half a year and $1283305 billion after a year! Such a return will put even the second richest man in the world Warren Buffett to shame.
Do not let greed overcome you!
Hey Martin, i spent a little time poking around, and i like your site- i’m very much into buffett/mungers line of thinking as well… I was wondering how you found the add-on to allow people to subscribe to your blog through email updates when you update it- would you mind letting me know? thanks -kenny
Hi Kenny,
I’m using a paid autoresponder service aweber.
It allows me to manage multiple lists and send followups as well as updates automatically.
This automation is useful as it saves me a lot of time.
Thanks!