Just got a cold call from a broker about buying silver
Just got a hard-sell cold call from some broker in the midwest trying to get me to buy silver. He said: "It's been on a run and just had a nice pull-back, now's the time to get in!! Can I put you down for $5000 worth? We are predicting triple digits on silver by the spring!"
When they're calling the sheep on the phone, it's time to be real careful, at least for the short-term.
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On Nov 10th when you posted silver was 28.56, today is 36.18 which makes 26.68% up in 4 months, I am not a vendor but I would look carefully at gold and silver as economical indicators and mid/long terms opportunities.
I had a boiler room call me up offering me shares in ABB. Legit shares, not a legit brokerage. I told the guy I could just click 'buy' right now if I wanted some ABB and he told me it'd be 'faster' to wire him money and let him do it for me... I have to give him credit for attempting to carry on the pitch, even after I used the words 'boiler room'. I guess if they have you on the phone, they just keep trying.
They have moved on from trying to sell you restricted shares and are now just outright stealing your money with nothing in return.
I'd presume any unsolicited call asking you to invest money is a boiler room, regardless of what the investment is.
Bangkok is a haven for these places. I recently had a friend arrested because the secretarial job she was working in turned out to be a boiler room. A general in the Thai army had tried to warn the boss of the raid but it was too late. In the end, about $600k changed hands, the police changed all the statements and the judges all got new Mercs and all the staff were allowed to walk out of the jail one evening at 7pm, including my friend.