I spent more than 35 years on Wall Street, in the trenches. I built a fortune helping my clients make billions before stepping away to run high-profit trading research services for my subscribers and expose the Street's dirty little secrets.
So believe me when I tell you I've seen a harebrained Wall Street scheme or two: the savings and loan crisis… the "crash-proof" portfolio insurance craze that led directly to the Black Monday market crash in 1987… subprime loans and toxic, mortgage-backed securities in 2008.
Those are just the biggies; there were dozens of other, smaller schemes that didn't crash the entire market – but wiped out plenty of investors.
Dumb, dangerous ideas… On Wall Street, they're more contagious than a cold.
All it takes is one firm to try out an idea. If it works, even in the short term, it catches like a virus, and then everyone's doing it… to the tune of tens, even hundreds of billions of our dollars at risk.
I'm going to take you inside the latest "I can't believe they thought this was a good idea" craze sweeping Wall Street. Be warned: If you have even a shred of common sense, you'll be outraged.
Now, I'm not doing this to shock you – although you're better off knowing what's going on here.
About the Author
Shah Gilani is Chief Financial Strategist for Money Map Press and boasts a financial pedigree unlike any other. He ran his first hedge fund in 1982 from his seat on the floor of the Chicago Board Options Exchange. When options on the Standard & Poor's 100 began trading on March 11, 1983, Shah worked in "the pit" as a market maker. He helped develop what has become known as the Volatility Index (VIX) - to this day one of the most widely used indicators worldwide. After leaving Chicago to run the futures and options division of the British banking giant Lloyd's TSB, Shah moved up to Roosevelt & Cross Inc., an old-line New York boutique firm. There he originated and ran a packaged fixed-income trading desk and established that company's "listed" and OTC trading desks. Shah founded a second hedge fund in 1999, which he ran until 2003. Shah's vast network of contacts includes the biggest players on Wall Street and in international finance. These contacts give him the real story - when others only get what the investment banks want them to see. On top of the free newsletter, as editor of The 10X Trader, Money Map Report and Straight Line Profits, Shah presents his legion of subscribers with the chance to earn ten times their money on trade after trade using a little-known strategy. Shah is a frequent guest on CNBC, Forbes, and MarketWatch, and you can catch him every week on FOX Business' "Varney & Co."