Why men are easy prey for investment scams

[Marc]

Good post...

BOSTON (MarketWatch) — As someone whose family was affected personally by the Bernie Madoff scheme, and as someone who knew Brad Bleidt, a Boston-based scam artist who misdeeds preceded Madoff’s, I’m deeply concerned about the issue of investment fraud.

So, too, is John Gannon, the president of the Education Foundation at the Financial Industry Regulatory Authority, known as Finra. Gannon was among those who spoke this week at Boston University’s Future of Lifecycle Saving & Investing Conference to talk about the state of financial literacy in the U.S.

Read more: http://www.marketwatch.com/story/why...estinginsightb

[donna]

Interesting so this is the group of males most at risk according to the article...

Not surprisingly, the research shows that the people most at risk of being separated from their money are males, ages 55-65, who are largely self-directed or do-it-yourself investors, and who are risk-takers. What’s more, those at risk have a tendency to be overly optimistic about their knowledge of all things finance and investing.

However this bit surprises me as I thought Males were 'logical' and females more 'emotional' in decision making.....

It can be especially hard for those who are at risk of being defrauded because these folks tend to “make emotional rather than logical decisions,” Gannon said.

So it the article saying - the older men get the more their decisions are based on emotion?

Good advice on how to avoid being scammed and in summary I think women do ask more questions so scam artists put them into the 'too hard' basket and move on to a easier target...men over 55.

cheers,

Donna

[Slauter]

Good post...

BOSTON (MarketWatch) — As someone whose family was affected personally by the Bernie Madoff scheme, and as someone who knew Brad Bleidt, a Boston-based scam artist who misdeeds preceded Madoff’s, I’m deeply concerned about the issue of investment fraud.

So, too, is John Gannon, the president of the Education Foundation at the Financial Industry Regulatory Authority, known as Finra. Gannon was among those who spoke this week at Boston University’s Future of Lifecycle Saving & Investing Conference to talk about the state of financial literacy in the U.S.

Buddy the link you have given in your post is not working properly for me...!!
I think either I have a slow internet connectivity or the link is broken so check it yourself and then re-post the link which will work properly...!!!

[BusyLizzy]

The link works fine. You must have a slow connection.