In a move that stunned the college sports world, Texas A&M head baseball coach Jim Schlossnagel departed the Aggies one day after playing in the College World Series finals. Most observers would have been surprised by such a move in any similar circumstance, but his departure into the burnt orange sunset 90 miles to the west was shocking and felt akin to other flimflams I have witnessed over the decades as an investment advisor.
Quote:
"I took the job at Texas A&M to never take another job again. That hasn't changed in my mind."
Jim Schlossnagle 6/24/24
I've had the unpleasant experience of working with clients that have been Schloss'd by infamous rogues such as Bernie Madoff, Allen Stanford, and Austin's own Kurt Barton, to name a few. Schlossnagle's treachery may not have seemed so devious if it weren't for his declaration the day before he left: "I took the job at Texas A&M to never take another job again. That hasn't changed in my mind."
Ponzi schemes, named after the notorious swindler Charles Ponzi, are fraudulent investment scams that promise high returns with low risk. They use the money from new investors to pay earlier investors, creating a facade of a profitable business. Regrettably, investors, akin to fans who deemed Schlossnagel a long-term commitment following his impressive performance at the College World Series, can succumb to persuasive sales pitches and the deceptive appearance of stability.
To learn more about how to avoid being Schloss'd out of your hard earned money, click HERE.
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