On March 4 this year, we wrote about how to generate extra income with SPAC’s.
In summary, our recommendation was not to even think about investing in one but to set up one.
I am currently marginally involved with three large, worthwhile projects needing money. I have suggested that they look into the SPAC option as a possible source.
Forbes wrote about How SPACS Became Wall Street’s Money Tree.
The subtitle of the Forbes article alone told us that we did not need to read further to get the message. It stated: “How hedge fund traders known as the SPAC Mafia are driving an $80 billion investment boom with a no-lose trade.”
Two days ago, the Wall Street Journal published a piece titled SPAC Selloff Bruises Individual Investors.
Yes, as expected, individual investors got bruised.
What do you think about the folks who launched the SPAC’s? They think in terms of 10-digit annual incomes, not six-digit ones like most of our members and subscribers. Right now, they are working on their next paper-shuffling, tax-avoidance scheme with no socially redeeming features.
We will warn you about them when they come out.
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