Former mobster Michael Francés sure that investors should avoid the stock market the United States, however, should follow his advice?
“The market is maturing USA” bubble “, which at some point will burst and it does not promise us anything good,” – says Michael Francés, the former boss of the Colombo crime family in New York, who became a writer and lecturer, motivator.
And it’s not just quotes. He has another reason to advise investors to keep their money away from Wall Street.
“I often had to work with the guys from Wall Street,» – says Francés. “Many of them are dishonest and I do not trust them. I do not like when my money dispose of people I do not know much. I think it would be better if I do it myself. “
He advises to invest in gold and silver, but if you think about exchange-traded funds, then forget about them.Francés prefers gold or silver ingots.
“Whatever happens, they will always remain in the price,” – he said. “While the shares is not so; in our country, you can go to sleep with the assurance that all is well, and when you wake up – to see that they have lost everything. “
However, Michael Francés is predicting financial Armageddon and believes that diversification of assets – is still important.
“You have to understand what you diversify and do not trust anyone to make that choice for you, except for the cases when you know the person well and work with him for many years,” warns Francés, whose image is on the screen gave Joseph Bono Martin Scorsese’s “Goodfellas.”
Do listen to this advice?
At the age of 35 years (1986), Michael Francés held 8 th place in the ranking of the 50 most wealthy and influential Mafia bosses.
“Business is business,” says Michael Francés, who served 10 years for extortion. “No matter your business is legal or not, still there are principles that must be followed.”
The most important fact confirming Rezonit tips Francés – is that he is still alive. Of the 50 bosses in the list of 1986, 44 – are already dead, and the third – serving a life sentence.