A Chinese Stock Shell Game (with Jed Rothstein from The China Hustle)

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Personal Finance, Financial Planning, Education, Retirement, Investing, Cfp, Business, Money

4.4 • 2K Ratings

🗓️ 28 March 2018

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Thinking about placing some of your hard earned Benjamins into investments in China? So have many American investors, yet lots of them don't know how much trouble they might be inadvertently be walking into. Jed Rothstein, Academy Award-nominated and Emmy Award winning director) joins us to discuss his new documentary, the China Hustle. How do people get swindled out of millions of dollars while trying to buy Chinese stocks listed on American stock exchanges? We'll hear how the game works and also show you how deceptive it is even though it was all legal.

In headlines today we hear a gut-wrenching story about how an NBA star went from a $61 million fortune to being six figures in debt. We'll also discuss a headline about buying insurance online. There are many questions people should ask when purchasing anything online, and we ask Haven Life CEO Yaron Ben-Zvi to share some tips with us. As always, he gives us lots of ideas to make sure you know what you're buying.

Plus, as always, we throw out the Haven Life line to a listener. Today Win is wondering why her tax refund check is so low. Is it because she recently paid off her student loan? Also, we answer a letter from Nate who wonders about depositing a refund from an HSA expense back into his account even though he's no longer eligible? Of course, we'll have Doug's trivia and more fun on today's show.

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Transcript

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0:00.0	Hey, this is Joe's sister Nikki.
0:02.9	I think I might be the only girl in the world who has a brother who spends his entire day in the basement,
0:09.6	pretending he has an internet radio show.
0:13.2	Jeez.
0:19.3	Live from Joe's mom's basement, it's the Stacking Benjamin Show.
0:24.6	I'm Joe's Mom's Neighbor, Doug, and on today's show, we welcome Academy Award nominee and Emmy Award winning director, Jed Rothstein.
0:41.4	Think investing in China sounds interesting?
0:44.0	We'll have the other side of that story.
0:45.9	Plus, I thought the time I blew $15 betting on Joe's mom's poker game was a lot of money.
0:51.0	But in our headline segment today, one NBA star blew through a $61 million
0:56.0	fortune and is now deeply in debt. Plus, buying insurance online, one recent publication says
1:03.0	there can be pitfalls. We'll talk to Haven Life's Yaron Ben Z, who will help you avoid making a big
1:09.8	mistake with your insurance.
1:11.5	As always, we'll throw out the Haven Lifeline today to win, who wants to know why her
1:16.9	tax refund is so small.
1:18.9	We'll take a letter from a lucky listener and share some of my amazing trivia.
1:23.9	And now, two guys who Joe's mom say are two bulls in a China shop,
1:28.3	Joe and O J-J-J-J-J-J-J-J-J-J-J-J-J-G.
1:37.3	You're the bull in the China shop, not me, man.
1:42.9	I was driving out in the back 40 a couple of days ago, and I drove past some ranches, and one of them was called Bucking Bull Ranch.
1:52.3	Oh, boy.
1:52.8	And it had like two big, giant steel bowls in front of it.
	...

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