On March 4, 2021 we had a post on SPAC’s. (Special Purpose Acquisition Companies) Our bottom line was “don’t even think about investing in one.”
Forbes wrote about How SPACS Became Wall Street’s Money Tree. Traders known as the SPAC mafia were generating seven digit incomes for themselves working on their next paper-shuffling, tax-avoidance scheme with no socially redeeming features.
Yesterday’s Wall Street Journal had an article titled The SPAC Ship is Sinking. Investors Want Their Money Back.
Don’t read it unless you have the interest and the time. The title says it all. As we stated almost one year ago, “don’t even think about investing in one.”
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