Trainee Broker in Carbon Credit Investments

[jthetrader]

It is as simple as that, and it's been going on for years.

So what if they're criminals, most operate offshore so it's expensive to try and catch them, and the criminals know this. For every conman they catch there are probably 50+ they don't.

Plus, they don't have to go through the hassle of setting up companies and creating cashflow. All of the people that fall for the scams do so because of what they're told which in turn is all lies. If the people who lose money weren't so naive and greedy they'd do a little bit of independent research and soon realise they were being setup. And if they don't know how to research then what are they doing getting involved in complex investments? They should realise their limitations and keep the money in the bank, or Gold, anything that's simple and easy to understand.

So you're telling me anyone with a bank of phones, a few companies set up at companies house, a shareholders list and an overseas account can do this? If so I just don't understand why it doesn't go on a lot more than it does.

I agree about naive investors not being qualified to make investments in complex entities but in the end it is their choice.

 

[pboyles]

So you're telling me anyone with a bank of phones, a few companies set up at companies house, a shareholders list and an overseas account can do this? If so I just don't understand why it doesn't go on a lot more than it does.

I agree about naive investors not being qualified to make investments in complex entities but in the end it is their choice.

It does go on a lot, boiler room fraud costs UK residents £200 million a year and that's only what gets reported. Land banking scam companies that have been closed down have been found to have £30 million from the public, remember that's only the ones that have been caught and closed down.

I havn't seen figures for carbon credit scams but I imagine its massive.

 

[jthetrader]

It does go on a lot, boiler room fraud costs UK residents £200 million a year and that's only what gets reported. Land banking scam companies that have been closed down have been found to have £30 million from the public, remember that's only the ones that have been caught and closed down.

I havn't seen figures for carbon credit scams but I imagine its massive.

I too have read big figures for the boiler room scams, £1bn a year for the UK I heard (presumably that is an estimate based on the assumption that only 20% of it is ever reported). I just don't see how any idiot with a phone can be making such good money, for example the junior broker job offered here gave an estimate of £125,000 p.a. inc. commissions. £125,000 a year is an awful lot of money for a non-graduate, twenty something, so either they are seriously exaggerating the earning potential a broker there has or I'll eat my hat.

 

[nicko1281]

There are certainly some less ethical companies out there selling carbon credits, but it is a growth market according to some of the big boys.ie.barcap, deutsche bank.The things to look for are accreditation either vcs or gold standard and does the company provide a exit strategy if not then how do you get out.Growth wise in the voluntary market has been quite explosive over the past 4 years.I bought 10ks worth off of vcs credits off a company called AGT last december and am up nicely thanks.I did however have to avoid some scammers on the way.

 

[emissionstrader]

Hey Mb, I have been through the process and interviews there. It is legitimate and people are selling and making commission. But it is a raw cold calling sell in a small cramped room 8 hours a day. A few do make a decent salary, but most just burn out with all the calls. It is legit since it is not required to be fsa registered with this product, unless a CIS ( collective investment scheme) which it is not. The product is pretty illiquid so rather hard for investors to sell once they have bought. Also you will have to memorise a script and be pretty robotic in all your sales. If you can stand all that then give it a go. But I don't think these operations last more than a year at a time.

 

[emissionstrader]

Hey Mb, I have been through the process and interviews there. It is legitimate and people are selling and making commission. But it is a raw cold calling sell in a small cramped room 8 hours a day. A few do make a decent salary, but most just burn out with all the calls. It is legit since it is not required to be fsa registered with this product, unless a CIS ( collective investment scheme) which it is not. The product is pretty illiquid so rather hard for investors to sell once they have bought. Also you will have to memorise a script and be pretty robotic in all your sales. If you can stand all that then give it a go. But only if you don't already have ajob. I wouldn't ever leave a job for it, and I don't think these operations last more than a year at a time.

 

[anley]

Cold calling from a script, yeas, sure it's legit.

They'll be stuffing up the poor clients left right and centre. Probably not illegal but at the same time very scummy operation.

Still, if you don't mind ripping people off to get paid then go for it.

 

[pboyles]

Hey Mb, I have been through the process and interviews there. It is legitimate and people are selling and making commission. But it is a raw cold calling sell in a small cramped room 8 hours a day. A few do make a decent salary, but most just burn out with all the calls. It is legit since it is not required to be fsa registered with this product, unless a CIS ( collective investment scheme) which it is not. The product is pretty illiquid so rather hard for investors to sell once they have bought. Also you will have to memorise a script and be pretty robotic in all your sales. If you can stand all that then give it a go. But I don't think these operations last more than a year at a time.

Sounds like any other scam out there, land banking, wine investing, fooling pensioners into handing over their life savings for some crap investment that is impossible for them to sell again. Still I suppose some people dont mind doing stuff like that.

Maybe you could look for work in sunnier climes scamming people, this article about Spain list various stuff you can get involved in including carbon credits and some good old Nigerian tricks as well.

Costa del Sol cons and scams - timeshare, phishing, boiler room | Olive Press Newspaper | News

 

[pboyles]

Well if you did google carbon credit investments you'd see that Europol (the European Interpol) has said that up to 90% of all carbon credit market activity is being carried out by fraudsters in some European countries.

Crackdown on carbon credit scam - Telegraph

Probably worth mentioning this figure again.

 

[AlexF777]

Look, if you have few morals and don't mind cold calling people and stuffing them up, ie selling something that's worth say £100 for £1,000 then take the job.

But make no mistake this job is about stuffing ignorant people up and taking them for all you can. You might say you have their best interests at heart but the reality is you'll be lying. Some can do that job, others think it's disgusting.

I have just started working in a Carbon Credit Brokerage and i'd say you don't know a thing about the carbon credit market. If you did your homework you'd realise what an ethical investment they are. And in terms of returns for your money come 2013 your look set to double your money and I do believe that is guaranteed!

 

[pboyles]

I have just started working in a Carbon Credit Brokerage and i'd say you don't know a thing about the carbon credit market. If you did your homework you'd realise what an ethical investment they are. And in terms of returns for your money come 2013 your look set to double your money and I do believe that is guaranteed!

Guaranteed to double my money by 2013? Is that the standard pitch you use when calling 80 year olds to get their life savings? By the way which ethical company do you work for. I'm sure nobody would mind if you told us the name of such an upstanding company.

 

[AlexF777]

CLIENT: Hello, this is Jim Smith you sold me some carbon credits 6 months ago and I've heard the market is doing well, I'd like to take profits.

'BROKER': Mr Smith, yes I remember you, thanks for calling. The trouble is Sir there's been some problems in the market with the new EU regulations and further Government regulation so only part of the market has been doing well. Your investments sadly haven't and at present there's no real market for what you bought. But it does all depend on whether we can find a buyer, that might be tr4icky in today's market. Can I advice you hold on for the long term , the credits you bought will come good but right now as I said the market is tough. Why don't you call back in a few months and hopefully the market will have picked up a bit.

CLIENT: (in a meekly tone). Oh, I didn;t think it would be hard to sell them, when I bought them you said it was as easy as calling you up and that I was on to a sure thing.

'BROKER': Well, that was true then but the market has changed and that's how markets operate, nothing is guaranteed in the present climate.

CLIENT: Hmmm, guess I'll have to call back in a few months, but do you really think the market will get better and I'll be able to sell out at a good profit.

'BROKER': yes, our 'analysts' are suggesting that due to China not doing too much about polluting the world the carbon credit market looks like a fantastic long term hold. If I were you Sir I'd just hold on.

CLIENT: OK, guess there's nothing I can do, so I'll call you in a few months.

Broker puts down the phone and say 'what a mug, but he was great for business because I got paid High fives all around the office.

Client puts the phone done and thinks, hmmm, this isn't turning out to be ANYTHING like I was told.

I SAY - Mr Smith, did you do anything INDEPENDENT RESEARCH into the market or did you take at face value what your cold calling broker said to you? I think we know the answer to that don't we?

3 MONTHS PASS

CLIENT: Hi, this is Jim Smith, how's the carbon credit market doing?

'BROKER': Mr Smith, great to hear from you Sir. Unfortunatly, the market hasn't picked up, it's still suffering but as I said to you, view this as a long term investment, act like Warren Buffet and hold, you'll be OK Sir.

AND ON AND ON IT GOES..............

YOU'VE ALL BEEN WARNED.

According to the Chancellor of the Exchequer, "The trading floor price for carbon credits will start at £16 per tonne in 2013..." At the moment that is doubling your money! Where are the inhibitors??????

 

[pboyles]

According to the Chancellor of the Exchequer, "The trading floor price for carbon credits will start at £16 per tonne in 2013..." At the moment that is doubling your money! Where are the inhibitors??????

Where did he say that, post the proof. Do you seriously think if something was guaranteed to double in less than 2 years you'd need to be phoning up pensioners to sell it? No of course you wouldn't, government funds and investment banks would have bought ever single one.

You're either a naive fool or you think you can promote this sort of nonsense here, whatever it is you're wrong.

 

[AlexF777]

He said word for word in his latest budget speech, "The trading floor price for carbon credits will start at £16 per tonne by 2013 and hit £30 per tonne by 2020." I'm looking for his speech. What do you do? I bet you don't invest and by the way investment banks sell them not buy them and the government provides them!

 

[pboyles]

So what's the name of your highly ethical company? Are you afraid to mention it for some reason?

 

[anley]

Alex, face facts, you're a cold calling conman.

 

[AlexF777]

I'm not going to mention the name of the company because i've only just started there, it's a small world and I don't want to rock the boat.
I think for the majority of people, it's a case of not seeing the wood from the trees and if something sounds to good to be true then it is! That's how it is with carbon credits at the moment and you pair not knowing anything either has proved this. Cold calling is leg work; getting the product to the people. If you have a product. I have my commodity, and, I live in this ultra modern world where I don't even need to leave the comfort of my chair to survive!

 

[pboyles]

I'm not going to mention the name of the company because i've only just started there, it's a small world and I don't want to rock the boat.
I think for the majority of people, it's a case of not seeing the wood from the trees and if something sounds to good to be true then it is! That's how it is with carbon credits at the moment and you pair not knowing anything either has proved this. Cold calling is leg work; getting the product to the people. If you have a product. I have my commodity, and, I live in this ultra modern world where I don't even need to leave the comfort of my chair to survive!

So you wont mention the name of this highly ethical company and you cant produce any proof that the Chancellor predicted the price to be x by such and such a date. Do you actually believe your own script? I know you were setting up a 'canvassing' company from home some months ago but do you seriously believe that you are not scamming old people into parting with their savings for some scam 'product', if you believe that I have news for you.

 

[jthetrader]

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

 

[jthetrader]

Where did he say that, post the proof. Do you seriously think if something was guaranteed to double in less than 2 years you'd need to be phoning up pensioners to sell it? No of course you wouldn't, government funds and investment banks would have bought ever single one.

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