Is Your Teacher a Fraud?

Entrepreneurship is on fire! Financial gurus are the new rock stars. It is great that being a businessman, an investor or an entrepreneur is getting as popular as being a rapper or athlete. This is definitely forward progress. Unfortunately, when something is popular the snakes and charlatans find their way into the mix. With that in mind, I want to tell you a good way to tell if your teacher, guru or mentor is a fraud.

Good Times

There are times when a particular asset class or industry is hot. As of recent times, the stock market has been on a historic bull run. Recently, cryptocurrencies were white hot. During the times when an asset class or industry is hot just about everybody is winning. When the stock market is on fire, everyone is making money. When crypto exploded everyone came up. It doesn’t take much skill to win when everything is going up.

Enter the Snakes

When the markets are in a state of euphoria the snakes emerge. People come out of the woodwork with programs to teach you how to make money in the stock market. The real estate gurus come from every where. Your DM’s are flooded with people that want to teach you to trade forex or crypto. They tell you how easy it is. They show you how they are winning. You want to make money. You want to build wealth. How can you resist?

What they say when things are good

Does your teacher only talk about his wins? Does he only show you his gains? Does he act as if the times when things are going great for the market as a whole is the norm? If you are learning from someone like this, you might be following a snake oil salesman. At the very least you are following someone who doesn’t know any better. The well intentioned person who doesn’t know anything is just as dangerous as the person trying to deceive you intentionally. It’s all about results.

What the real ones do

The real teacher speaks on his wins and losses. A good teacher can teach you things from his successes. He also knows the value of learning from your mistakes. You can learn what to do from someone’s successes and what not to do from their failures. There is not much you can learn from someone who only tells one side of the story. It’s like the gangster rapper who tells tales of his wins in the fast life but never mentions the years in prison and life’s lost. It’s very disingenuous. Can you really trust your financial livelihood to someone like this?

How I know it’s real

I know I’m dealing with a real one when my teacher is warning me about the pitfalls and what to look out for even when everyone is winning. He is more concerned about preparing me than selling me. He is painting the whole picture, not just what I want to hear. When bitcoin exploded, the real ones warned that crypto is very volatile and it can go down as quickly as it went up. They advised you on what to do if things turned the opposite way. When crypto crashed, the fakes went silent. They were nowhere to be found. Meanwhile, the real ones kept coming through will real guidance. They didn’t shy away because they were honest about what could happen and they have strategies to share for when things are up and down. Don’t be fooled by an imposter.

Make the choice

With so much information out here, it can be difficult to decipher what is real and what is not. One of the best ways to determine if you are getting info from a reliable source is whether or not this person is willing to be honest with you. Is he willing to share his wins AND losses? Does he warn you of the bad things that can happen? Is he there to guide you through when things go bad, or does he disappear? A real one will ride with you through the good and bad..

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