Mafia stock market
Former mob boss Michael Franzese thinks investors should avoid the U. It's not just the valuations. He's got another reason for advising investors to keep their money off Wall Street.
Read More Organized crime: World's most lucrative criminal activities.
And I don't like other people that I don't know really well taking care of my money. I think that I can do it better. He advises investing in gold and silverbut if you're thinking about the exchange-traded funds, fuggedaboutit. He likes physical bars.
Read More Why the real bubble may be confidence in the Fed. To be sure, he doesn't expect financial Armageddon and he still thinks diversification is important, with some caveats. Read More Greenspan says stocks to see 'significant correction'. At the age of 35, he ranked No. Read More Marc Faber: The asset bubble has begun to burst. Franzese has another unusual qualification for giving advice: He noted that out of the 50 bosses on the Fortune list, 44 are now dead and three are doing life in prison without parole.
He's believed to be the only surviving high-ranking member of a major crime family to publicly walk away and refuse protective custody. Com's Leslie Shaffer; Follow her on Twitter LeslieShaffer1.
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Stock Market Mafia: “It’s A Wild Wild Market” Says Tilak Karunaratne – Colombo Telegraph
Stocks Dow 30 NASDAQ IQ Sectors. Mob boss calls a stock bubble Leslie Shaffer Writer for CNBC. Jerritt Clark WireImage Getty Images.
Read More Why the real bubble may be confidence in the Fed "No matter what, it's always going to have a value," said Franzese, who dodged a question about whether he'd ever killed anyone. He has some unusual bona fides. The asset bubble has begun to burst "Business is business," said Franzese, who served a year prison sentence on federal racketeering charges.
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The stock markets mafia
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