Goldman Sachs Made Me "Special"

From Gary Sutton, Co-fouder of Teledesic

[Quote 1]: Banks of every flavor are in business to make money for themselves. They are not in business to make money for you. If they worried mostly about making money for you, they'd likely go broke, and you'd lose every penny.

[Quote 2]: So am I mad at Goldman? No. I just understand them better. They're out to make a buck. So am I. And they're better at it than I am.

How NOT to Invest: Four Lessons From the Goldman Case

Read the whole article HERE:

For many big financial institutions on Wall Street, we're simply customers to be sold a product.

The case is also a great example of how not to invest. You could go a long way in this life just by observing the behavior of wealthy and powerful investors in Abacus and then doing the opposite.

Never assume the big money is also the smart money.

What are the lessons?
1 Never put too much faith in a bank.
2 Think twice before buying any complicated financial product.
3 Be wary of investing in something you don't understand.
4 And when in doubt...