Reply #7: Scumbag Financial Hustlers [View All]

[Coyote_Bandit]

I used to work in the financial services industry (not as a broker). Over three years ago I was laid off along with 30% of my co-workers. I am still job hunting and would much prefer to work in another industry.

My advice to anyone who wants to save or invest money is to assume responsibility for all your financial decisions. If you don't understand something then don't do it. And don't let anybody confuse you by using financial terms. Ultimately, every financial security is either (a) cash, (2) equity ownership, (3) a form of lending, or (4) a security whose value is derived from something else and based upon expectations that the item will change in value. Unfortunately, most financial vehicles can be manipulated to take advantage of people. That is what makes it impeative that you be proactive.