Posted by John Behle on October 09, 1998 at 02:09:59:
I didn’t mean to paint all “brokers” with the same brush. There is just an end of the note industry that includes some very poorly trained, ill-equiped - yet well intentioned and well meaning beginners.
Sometimes - not all the time - note sellers are strung along and lose out on the types of timely opportunities that Bill says he needs the money for. For that reason, I felt a need to point out a risk. Bill probably doesn’t have the time to have his note shopped from broker to broker to broker …
So, anyway, sorry about that brokers. Being a note investor myself, I pay the prices of all that happens to the industry. Sometimes I get tired of paying the prices caused the industry by some of the seminar mills churning out thousands of students that have been told they are qualified and ready.
Some make a spectacular success of it. Most feel cheated and give up. The bad Press is building and the industry will suffer even more.
Didn’t mean to offend the brokers out there that are making it work for them. My belief is any note broker reading this board is a level (or many) above the ones I was referring to.