—Jeff Ward, Lehigh Valley News Briefs
I was perusing Saturday’s Wall Street Journal when I came across something rare, a reference to Berks County.
Jason Zweig’s `The Intelligent Investor’ column focused on a Douglasville outfit that calls itself “Yield Wealth.” Zweig wrote that some websites using the firm’s name were promoting 10-year “term deposits” with a return of as much as 17.1%. Other websites said deposits would be insured to as much as $2 million by the Federal Deposit Insurance Corp.
Zweig pursued the claims. After he did that, Zweig said Yield Wealth took down most of the websites and that the firm was merging with somebody else. Thank you, Jason Zweig, but as the columnist noted, as interest rates decline, questionable offers of high returns will keep popping up.
People can’t be reminded of this often enough. For more, see:
Wall Street Journal: https://www.wsj.com/
Lehigh Valley News Briefs 