radio3

G Mc, talks about DD but does not belive in it as shown in his online interview.
He is not NOBS, he gives no DD information that would be useful for anyone to make an intelligent investment, (loan).

And this is constructive criticism, no matter what he thinks.

HedgeHog

Just to let everyone know, this is rumor/speculation, not fact. There's only one way to find out; wait and see if they close down within a month ... ... then I'll beat the dead horse again.

-David

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radio3

If not in one month then 2 or 3!!

Traderj

I am always perplexed by desire of any group of people to see something fail, in this case obviously LEGISI. Naturally I have no insight as to how legit legal etc their whole operation is, but I would have been more worried when they were paying 12% a month than I would be with them paying 6%.

Making 6% on your money month in month out is not a hard thing to do. I mean in the real legit investment world that are tons of regulated managed firms what turn more than that each month...

So it can't be the returns that so bother the LEGISI detractors.. so what is it that makes them so angry that they are waiting around for it to fail?

allinvain

hmm..maybe it is the fact that they're not in it and now can no longer get in, so naturally they think "if I'm not in this program, it must be a scam, or at best it must suck."....

TraderJ I think your question deals more with human psychology than anything to do with investing.

sharonsopinion

It is not so much wanting Legisi to to fail. I'd love for them to succeed. It's more that their recent actions have been done in the past by others just before they closed the program. So, the detractors are voicing their concerns about what are considered red flags in the HYIP industry.

The purpose is to warn people so that they can get their funds out, if possible. The majority, usually 90% or higher, tend to compound indefinitely. They don't even bother to get their seed money out, let alone any profits.

It is entirely possible that Legisi is the exception and their actions aren't spelling the end of the program is near. However, if you study HYIP history, the likelihood of them being the exception is extremely low. It is much more likely that their actions are a last ditch effort to grab as much as they can before making up some lame excuse(s) before shutting the doors.

JMO,
Sharon

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Traderj

Thanks Sharon, I have no knowledge or history in the HYIP world so I was not aware of the issues you mentioned. I just look at LEGISI and see their monthly return and then look at my trading accounts and think damn if I could have 90,000,000 to trade with I'd happily pay people 6% a month... that is nothing for a real professional trader...granted with that large a sum it does become more difficult to get good fills and so forth... perfect example this morning I made 5% on my futures account, I don't do that everyday of course but 20% a month is pretty darn common.

HedgeHog

Sorry, didn't want to sound negative. Since legisi.com offered limited DD, people are going to wild imaginations about it, no matter what. I had my reasons for not joining legisi.com, mainly because of the cut-off time and the fact that I have funds tied up with the Bullion Exchange during the e-gold debacle; had nothing to do with the high minimum. I for one, agree with Sharon. The 6%/month is very achievable, especially with large amounts. Greg must be using some sort of offshore resource for tax purposes, otherwise he'd would have to comply with local state and federal tax reporting laws. I really hope legisi.com stays in business indefinitely and continues paying it's members.

-David

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Due diligence before investing makes Jack a wise investor.

Traderj

Well the tax issue is really a non issue, if he has set up his LLC correctly all he has to do is claim the returns are shareholder equity and there is no tax payable on that side of things. Remember you only have to pay tax as a company on retained earnings, you don't pay it on gross earnings unless someone is asleep at the wheel in your accounting dept.

I would hope that Greg knows what he is doing. It's really rather funny that there should be more and more of this type of company out there making returns of 6 or 8% a month gathering millions in the internet world.. but as so many of them are just scammers looking for a quick hit they miss out on a huge and profitable business model.

flash

I think sharons opinion hit it exactly as far as most people who are stating the least bit of a "negative" comment. My regret was not to invest here when I first heard about it well over a year ago. (LOL, I chose "god" & udachu instead )

When I heard they were closing, I happen to agree that there were to many red flags for me personally to invest (loan), but that doesn't mean I would want to see it fail.

There seems to be a lot of "human psycology" I just don't understand when it comes to reading about programs in the forums. Some people seem to act like if one cautionary or negative post is made about their favorite investment, they are ready to hang that person by their toes. Anyone remember when paranoid posted a article saying that FXE was to high risk months before it's collapse. Some people seemed like they were ready to send a lynch mob after him. Sometimes the caution posts are correct. I hope not in this case.