Becoming a Millionaire Next Door

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According to a fair bit of research and just plain anecdotal evidence, there are three controllable paths to becoming a millionaire in the United States: work in a high-paying profession, save and invest consistently over time, and own a successful business. While some smart aleck is likely to come along at this point and say “be born with rich parents”, …

The Making of a Ponzi Scheme

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On February 4th, the SEC charged three individuals and their investment firm, GPB Capital, with running a Ponzi scheme in the amount of $1.7 billion dollars. For scale, the Bernie Madoff Ponzi scheme was $64.8 billion, so while this scheme did not reach such a significant size, it is still the largest Ponzi scheme accusation made since Madoff’s conviction in …

The Games Won’t Stop

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If your experience with the markets lately has been an entertaining, if confusing one, you’re not alone. Last week, the market had another “never before seen” event, after members of the website Reddit banded together to buy as much Gamestop stock as they could afford. Reporting has been mixed regarding this, but there have been several constants. Most importantly, if …