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November 15, 2022 | Ponzi central

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel ( Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog:

Humans seem to be endlessly vulnerable to the lure of easy money. Harder to accept, however, are those educated and trained to be professional money managers who still throw cash at charlatans and ideas with non-sensical valuations. When elders fail to lead, chaos grows. The segment below highlights the blatantly obvious mania that has piled trillions into vapid concepts in recent years.

Whoops. The magical

box was actually a pyramid this whole time. Sam Bankman-Fried recently went on a podcast and tried to explain “yield-farming” to Matt Levine and the OddLots podcast and ended up describing a ponzi scheme. Chaos ensues. Listen to the full podcast (starts around 24:00… 

Media magnifies the danger as it’s mostly paid advertising to celebrate the appearance of money whether leaders and companies are legitimate or not.

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November 15th, 2022

Posted In: Juggling Dynamite

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