[This article was originally published on May 29, 2014, we’re bumping it back to the top because a lot of readers have asked about it this week. The article below has not been updated or revised since first publication on 5/29/14]
Gumshoe readers have been asking about the “President’s Private Stock Market” for quite a while now, but I hadn’t gotten around to covering that teaser pitch — an oversight we’re correcting today.
It’s no surprise that this pitch caught the eye of a lot of investors — something about tapping into the insider secrets of politicians, a theme that resonates over and over again for suspicious investors who believe the rich and connected are doing something far different that’s making them wealthy (hint: yes, they probably are doing some things different than you or I … but that’s not why most of them are wealthy, my impression is that politicians are more often either born or bred to wealth or build wealth from book sales, the revolving door, and the speaking circuit, not because they’re great investors).
We’ve seen similarly themed teaser pitches before, from the “secret presidents 770 account” to the many spiels about the secret “Mainz” income earned by Bush, Clinton or Obama, but this one’s a little different. Here’s how it opens:
“‘It’s set up to maximize profits’ — Barack Obama, May 21, 2013….
“The Presidents’ ‘Private Stock Market’
“For Decades, This Closely Guarded Secret Has Discreetly Handed Politicians, Celebrities adn Billionaires Fortunes of $5 Million… $15 Million… Even $4 Billion…
“Here’s How It Could Explode Your Income 2,114% Times Higher Than The Average Investor.”
I’m not exactly sure what “2,114% Times Higher” means, but we’ll guess that it’s “A Whole Lot.”
They even capitalize on perhaps President Obama’s most regretted soundbite…
“… if you’re a business owner, you’ll remember what our commander in chief famously declared just last July 13… ‘You didn’t build that!’
“But take a quick peek behind the curtain…
“And you’ll find a totally different story.
“It’s the true story of a president ‘of the people’ who’s quietly raking in millions of dollars…
“In perhaps the most un-populist way you could ever imagine!
“We call his cash source, ‘The Presidents’ Private Stock Market,’ because Obama has collected as much as $5 million thanks to this backroom market.”
And Bill Clinton, we’re told, made more than $15 million from the same “private” market. What is this market?
“… a set of extremely profitable companies that offer returns far beyond anything you can get through the NYSE, Amex or Nasdaq.”
Huh? We’re going to need some more clues.