From: Andrew R. Sujdak (arsujdak@midway.uchicago.edu)
Date: Sat Jan 15 2000 - 11:27:04 MST
> Subject: StockGeneration (was Re: [scam] $ pyramid scheme)
> 13 months ago, when I heard of StockGeneration, I spent
> about 4 hours analyzing the game and its rules. I came to
> the conclusion that it was very well designed, could last
> a long time, and could make me a lot of money.
>
> I put in $6,000. I've taken out over $90,000 in cash. I have
> $664,000 left in my portfolio. I'm in a position to take out
> about $20,000 per month.
Why????
What risk did you bear? You can't get 10%+ risk-free returns when there is
trillions of dollars in US debt being publicly traded fo 5.7-6.73% returns.
Economies don't work that way.
The game is nonsustainable. What if the US government sold another $400b in
debt and put it into that game? What do you think would happen? You can bet
that they wouldn't have $40b to pay the US government at the end of the
first month.
The "risk" you are bearing in this game is credit risk, which is huge. And,
in fact, you're not getting any premium for it.
You are very lucky to have made money on this. But tell me how this is
different than a chain letter or the Albanian money pyramid scheme. Please.
I spend MANY hours a day doing finance-related things. And I'm telling you
that the people who solicit participants in this game can expect to go to
jail.
If I see another post on this subject telling anyone, anywhere, that this is
a good idea then I'm going to report this to the appropriate authorities.
We have enough problems with moron penny stock games.
a
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