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Weekly Thoughts on The Market - Attention Scammers!

A relaxed week on the stock market comes to an end. Hardly interesting harvests, Jpow tells again the old story and prices go sideways.

Something interesting happened though: The well-known scammer Karl Ess has launched a fund - or as he says: "Fond". Those who have already followed it on Reddit can now switch off 👋🏻.

Fortunately, since I have a finster account, I had to go all out for the community and find out something about it. How did he make it past Bafin? What is in his stock (I hope not too much carrot, that can hurt a vegetable stock badly in my experience)? Without further ado, this is the chat ⬇️⬇️⬇️

- First of all, it is noticeable that Karl Ess starts with maximum seriousness and gives me no info about his vegetable stock, but directly 🦧 how much kohle 🦧. Let's give him benefit of the doubt: I'm sure this is just a copy noodle, I'm sure he doesn't want to hide anything about the fund. Pulled a story out of his nose, hopefully adds credibility and ask for info again.

- The conversation is immediately diverted towards P2P lending. Okay, very suspicious.

- In the chat, there is now talk of 12% p.a. but in the sample contract of 1%. That was probably just a typo, happens to everyone. Here is certainly not built from the outset a mesh to confuse between monthly / annual.

- Besides the contract, there are no verbal agreements, but the payment is then after agreement. Oh yes, it's cerebrum time.

- After asking again, he just doesn't want to explain where the return is supposed to come from. Too bad, his stock tips would have been of burning interest to the community.

- Does the fund really exist if he keeps distracting from it?

In the end, I gave him a fictitious name and contact details for Bafin. Of course, it wasn't as funny as I had hoped, since I have no idea how this phone call went. Sorry.

Finally, a question from Reddit user Kujo1: "How can you take action against him?". Warn your friends and relatives about scams or suggest a minimum of financial education. Give them @finanzfluss Videos or something. With Karl we just wait for him to say something stupid & then there is an anonymous tip to Bafin. As long as there were no victims, it will be difficult with commercial fraud and 6 months minimum prison sentence.

Have a nice Sunday you 😘 (and have fun at the LUS HV 😔🤟🏻)

p.s. I actually wanted to add a blasphemy round about @Dianazurloewen anhängen about a cringeworthy "Weltschmerz" Instagram Story, while they jetted in branded clothes. Was then but too krinsch.

Wasn't on my radar, but I'm collecting inspiration.

Will the party go on next week? 👍👎

What is your assessment?