Trainee Broker in Carbon Credit Investments

[shadowninja]

What's the big deal with cold call brokers 'targetting' pensioners, is it just because they're at home during the day time?

They have a lot of savings and want to move them from banks (0% interest) to something half decent. When some smooth-talker tells them it's guaranteed to double over two years because some politician says so, unfortunately, in this ultra modern world you don't even need to leave the comfort of your chair to mug confused, old people! As Spanish said, if you can mug someone, they deserve to be mugged.

Mind you, he's right in a way. I take great satisfaction trading the Betfair markets knowing that I'm actually taking gamblers' money from them.

 

[jthetrader]

They have a lot of savings and want to move them from banks (0% interest) to something half decent. When some smooth-talker tells them it's guaranteed to double over two years because some politician says so, unfortunately, in this ultra modern world you don't even need to leave the comfort of your chair to mug confused, old people! As Spanish said, if you can mug someone, they deserve to be mugged.

Mind you, he's right in a way. I take great satisfaction trading the Betfair markets knowing that I'm actually taking gamblers' money from them.

Yep, it's a world of predatory and prey, and if you ain't the former you're probably the latter

 

[anley]

They target pensioners for many reasons, but the number one is they come from an age when business and people could be trusted far more easily.

In effect, they haven't realised it's a bad bad world out there and 99% of people that cold call about 'hot' investments are conmen at best.

Plus, look at it logically, whatever anyone says carbon credits are an extremly complex and sophisticated investment hardly suited to the average pensioner or even man in the street. But the carbon credit conmen will make it all sound so easy and profitable. Just look at this joker Alex, he says the investments are guaranteed to double in price over 2 years. That in my opinion is a sick joke, hence the company he works for is designed for one purpose only - to ripp off clients and in many cases ruin lives.

 

[pboyles]

I don't seriously think anyone is going to be selling anything which is guaranteed to double in 2 years, but there is a place for due dilligence in the investing world and it can be hard to understand why anyone would allow themselves to be duped

A fool and his money are easily parted

They are duped because of high pressure sales tactics which can include threats of legal action and all sorts. Of course they should know better but some people are vulnerable and yes others are plain stupid.

 

[jthetrader]

They target pensioners for many reasons, but the number one is they come from an age when business and people could be trusted far more easily.

In effect, they haven't realised it's a bad bad world out there and 99% of people that cold call about 'hot' investments are conmen at best.

Plus, look at it logically, whatever anyone says carbon credits are an extremly complex and sophisticated investment hardly suited to the average pensioner or even man in the street. But the carbon credit conmen will make it all sound so easy and profitable. Just look at this joker Alex, he says the investments are guaranteed to double in price over 2 years. That in my opinion is a sick joke, hence the company he works for is designed for one purpose only - to ripp off clients and in many cases ruin lives.

It never ceases to amaze me how much cognitive dissonance there is in the world, it's like with the Nigerian 419ers; how can anyone still fall for it? But I guess they do otherwise much of Lagos would be out of a job.

It's sad that people's lives get ruined, but diversifying would largely prevent that happening unless you only have one broker and he's bent and rather than buying shares with your money he's just pocketing it. When someone wants to sell you shares in a new, hot company why would you put everything you own in?

I just don't get how they persuade people to hand over six figure sums, I can see someone with £500k in assets putting £10k into a company that the man on the phone promises will triple in a year but not all their worldy wealth, and yet from the testimonials I've read some people have done just that

 

[jthetrader]

They are duped because of high pressure sales tactics which can include threats of legal action and all sorts. Of course they should know better but some people are vulnerable and yes others are plain stupid.

Legal action, from the conman against the victim? On what grounds

I suppose you could elicit a verbal promise to invest and then if they thought better of the idea later tell them all calls were recorded and you would sue to obtain the investment promised.

 

[pboyles]

Legal action, from the conman against the victim? On what grounds

I suppose you could elicit a verbal promise to invest and then if they thought better of the idea later tell them all calls were recorded and you would sue to obtain the investment promised.

I said threats of legal action, not that they would take legal action. Do you see the difference?

 

[jthetrader]

I said threats of legal action, not that they would take legal action. Do you see the difference?

Yeah, I'm not retarded, as a matter of fact I'm studying for an L.L.B

 

[Cee123]

Does anyone know how much openers & closets are making at these carbon credit companies?

 

[stephen2003]

varies but beware,
one day these will be deemed to be fraud.

Does anyone know how much openers & closets are making at these carbon credit companies?

 

[pboyles]

Does anyone know how much openers & closets are making at these carbon credit companies?

Whatever it is you'd better not spend it because you'll need for your bail payment when you eventually get caught.

 

[jthetrader]

Does anyone know how much openers & closets are making at these carbon credit companies?

Saw £70,000 a year offered, but that was not salary, that was 'anticipated earnings' so it might only deserve to be given as much credence as the 'anticipated returns' they offer to investors. Anyway, that job was for someone with experience as an opener, so presumably it was an offer to become a closer; not really sure how these things work....I think the openers are the plebs who have to spend all day ringing people, dangling bait, when they snare someone they hand them over to the closer and he reels them in and takes a big commission for doing so.

Anyway in light of the few job requirements the pay is good if you are prepared to work hard and be patient, remember that you'll be calling people 24/7 and 99% of them won't give you the time of day. That said, I imagine this sort of work is a damn sight more rewarding, financially, than most telemarketing work. Plus you get the bragging rights of telling all your mates you're a stockbroker :cheesy:

I don't want to end up doing this sort of work, but, tbh, if I fail my degree I won't be able to be so picky ethically if I want to have nice things (which I do).

As for the stuff about ending up in prison for it, as far as I know these guys are covered legally at the moment. If things change then things change and you'll either have to quit or continue working, but with the sword of Damocles hanging over you while you do.

 

[stephen2003]

yes it is legal for now, but the law will probably change, however i do not know when.

Saw £70,000 a year offered, but that was not salary, that was 'anticipated earnings' so it might only deserve to be given as much credence as the 'anticipated returns' they offer to investors. Anyway, that job was for someone with experience as an opener, so presumably it was an offer to become a closer; not really sure how these things work....I think the openers are the plebs who have to spend all day ringing people, dangling bait, when they snare someone they hand them over to the closer and he reels them in and takes a big commission for doing so.

Anyway in light of the few job requirements the pay is good if you are prepared to work hard and be patient, remember that you'll be calling people 24/7 and 99% of them won't give you the time of day. That said, I imagine this sort of work is a damn sight more rewarding, financially, than most telemarketing work. Plus you get the bragging rights of telling all your mates you're a stockbroker :cheesy:

I don't want to end up doing this sort of work, but, tbh, if I fail my degree I won't be able to be so picky ethically if I want to have nice things (which I do).

As for the stuff about ending up in prison for it, as far as I know these guys are covered legally at the moment. If things change then things change and you'll either have to quit or continue working, but with the sword of Damocles hanging over you while you do.

 

[jthetrader]

yes it is legal for now, but the law will probably change, however i do not know when.

I would hazard a guess that the law will change when enough angry victims start railing for changes to the law and some politicians see an opportunity to score points as defenders of the British consumer. I don't know how these companies operate, but if they have all their customers convinced that things are hunky dory then no-one will be complaining forcefully enough for action to be taken.

Anyway, there is always some hustle or other. Worst case scenario they will just move to the Far East, as many already have done, and operate illegally. Good luck catching someone who has all relevant gov't employees paid off. If the Far East becomes impossible to operate from then they'll move somewhere else, maybe Africa or South America.

I would like to work at one of these places just to see how much they really take in, I find it hard to believe there are so many gullible people out there. When you read about it it's like they're taking candy from a baby.

 

[stephen2003]

yes you are probably right.

I would hazard a guess that the law will change when enough angry victims start railing for changes to the law and some politicians see an opportunity to score points as defenders of the British consumer. I don't know how these companies operate, but if they have all their customers convinced that things are hunky dory then no-one will be complaining forcefully enough for action to be taken.

Anyway, there is always some hustle or other. Worst case scenario they will just move to the Far East, as many already have done, and operate illegally. Good luck catching someone who has all relevant gov't employees paid off. If the Far East becomes impossible to operate from then they'll move somewhere else, maybe Africa or South America.

I would like to work at one of these places just to see how much they really take in, I find it hard to believe there are so many gullible people out there. When you read about it it's like they're taking candy from a baby.

 

[redson]

Just received my monthly cold call from carbon credit scammer. I asked her to remove my name from their database (they had it completely wrong anyway!) She tried to counter that carbon trading had the backing of the UN and is totally legit and that Warren Buffett is an investor so why wouldnt I want to get rich? I need to develop a new script to have some fun with these idiots.

 

[stephen2003]

scam