When it comes to investment advice it is extremely important to trust your source. Unfortunately finding trustworthy sources is becoming harder and harder to find. According to the article, “Bad investment Advice Knows No Boundaries,” there is more bad investment advice out there than good. Many people tend to trust journalists to get reliable information for investing and trading. What could be more trustworthy than an objective journalist, right? Wrong! Journalist and news companies are seeking a profit and will report whatever “factual” information that improves their own profit. Sometimes that advice is of great valor and other times it is nothing more than garbage! A journalist’s pick of stock-tips is found to be just as likely to bring you success as if you had randomly picked your stocks yourself.
What if you decide to pay someone for advice on where to stash your hard earned money? Will you be rewarded with better advice then? Maybe, maybe not. Laidlaw and Company is a time honored investment firm that does business in both the United States, and the United Kingdom. The company offers both investment banking services and wealth management services to both businesses and wealthy individuals. One would hope that a business such as this would be trustworthy and reliable but it seems that Laidlaw and Company is not. In 2005, the U.S. District Court ruled against Laidlaw because its Chief Executive Officer, Matthew Eitner and its Managing partner James Ahern were found to be distributing false and misleading materials against a company they were seeking to acquire. One of Laidlaw’s associates, Leonard V. Gallick, Jr., has had 7 customer complaints of fraud against him. Does this mean all transactions Laidlaw is involved with are bad, no. But I would certainly do my research before becoming involved with them.
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