Set up one. With SPACs (special purpose acquisition companies) the fees, both open and hidden, are enormous. Don’t even think about investing in one.
For details see How SPACS Became Wall Street’s Money Tree in Forbes.
And the subtitle of the piece?
How hedge fund traders known as the SPAC Mafia are driving an $80 billion investment boom with a no-lose trade.
What does that tell us?
We frequently state that over the long term, properly selected US market index exchange-traded funds, held in tax-advantaged accounts, in an appropriate asset allocation, have been the investor’s best way for growing savings and are likely to remain so for many years.
That statement is evidence-based.
People investing in SPACs ignore two of the habits of Monday Morning members. They are not being do-it-yourself investors and they could not explain the concept to a 12-year old.
Once again: Don’t even think about investing in one.
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