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Stevewc 07-27-2010 03:12 PM

Dinner/investments
 
What is the best way to play these dinner invitations?
I'm starting to get some very nice invitations to eat and listen to invest bull crap.
How do you guys play this game?
I'm interested in eating but not so much in their investment theology.
How do you guys handle this without getting to much bull concerning the investment part? Or getting caught up in an investment trap?
Thanks for thoughts,
Steve

easysurfer 07-27-2010 03:16 PM

When you fill out the contact information, give fictitious info, then chow down on the food. :laugh: Just kidding.

I've never responded to one of those invitations because I think of the saying "There's no such thing as a free lunch." I guess you have to weigh, is it worth it for the eating but then placed on their contact lists?

W2R 07-27-2010 03:18 PM

I am one of those who never attends free investment dinners.

These organizations make substantial money by scamming the vulnerable, and I think it would be foolish to assume (like all of their victims did) that I am not one of the vulnerable in this respect. :blush:

Besides, could you REALLY enjoy eating while listening to a bunch of con artists speaking? Ewww.

easysurfer 07-27-2010 03:21 PM

Quote:

Originally Posted by W2R (Post 962062)
I am one of those who never attends free investment dinners.

These organizations make substantial money by scamming the vulnerable, and I think it would be foolish to assume (like all of their victims did) that I am not one of the vulnerable in this respect. :blush:

Besides, could you REALLY enjoy eating while listening to a bunch of con artists droning on in your ear? Ewww.


I think the danger would be to, while eating a good meal, in the subconcious see some of the scam investments, and think.."maybe it does make sense?" ... hook, line..sinker :(

Leonidas 07-27-2010 03:24 PM

Quote:

Originally Posted by Stevewc (Post 962058)
How do you guys handle this without getting to much bull concerning the investment part? Or getting caught up in an investment trap?

I ignore the invitations and buy my own dinner.

youbet 07-27-2010 03:24 PM

The "cold call" invitiations I get from FA's, insurance salesmen and the like are quickly trashed. I went to a few and the quality of the food and the ambiance of the establishment just weren't worth 1 - 2 hours of my time.

I occasionally get an invitation from some folks who have reason to know my net worth (enough to be FIRE'd), such as my brokerage house, and their shindigs are always top notch with little/no selling........ just a presentation on some financial subject meant to inform and impress. DW and I go to those.

If you're talking about a dinner invitation you received cold in the mail....... forget it.

CuppaJoe 07-27-2010 03:24 PM

American Century used to do full-day seminars with a box lunch at a convenient hotel conference room but IIRC they charged $10 in advance for the box lunch which was so-so. I went a couple of times and enjoyed it. It was fun meeting other investors. Never bought any particular investment based on the lectures.

I once attended a lunch info meeting at one of the other brokerages but just listened, ate a very bad sandwich and didn't fill anything out; IIRC it was about retirement planning. Will probably never attend another one.

WhoDaresWins 07-27-2010 03:26 PM

Quote:

Originally Posted by W2R (Post 962062)
I am one of those who never attends free investment dinners.

These organizations make substantial money by scamming the vulnerable, and I think it would be foolish to assume (like all of their victims did) that I am not one of the vulnerable in this respect. :blush:

Besides, could you REALLY enjoy eating while listening to a bunch of con artists speaking? Ewww.

Ditto. These invitations go straight to the circular file or the delete button. Not that I haven't been scammed, but it was years ago and I have wised up since. Now I am outraged at the insidious way hard working and trusting people are sold totally inappropriate "products" (hardly deserving of the word "investments"). Makes me sick to my stomach.

Moemg 07-27-2010 03:47 PM

I went to a lunch one sponsored by a local lawyer discussing estate plans .It was a good lunch and a good learning activity . When I was ready to redo my will I went to her and was pleased. The investment invitations I toss in the garbage .

Westernskies 07-27-2010 04:02 PM

Buy your own dinner. Decline the invitation; tell them anyone who has the resources to buy fancy dinners for hundreds of strangers is making way too much money off their client investments- You're a frugal guy who is careful with your money; he apparently isn't, so it wouldn't be a good fit.

FIREd 07-27-2010 04:05 PM

I'd rather buy my own dinner. If you are not sure you can resist the siren song, you should probably stay away or that free dinner might turn out to be quite expensive.

bbbamI 07-27-2010 04:07 PM

Quote:

Originally Posted by Stevewc (Post 962058)
What is the best way to play these dinner invitations?

Tell 'em you want your meal 'to go'... ;D

W2R 07-27-2010 04:12 PM

Quote:

Originally Posted by FIREdreamer (Post 962095)
I'd rather buy my own dinner. If you are not sure you can resist the siren song, you should probably stay away or that free dinner might turn out to be quite expensive.

And just imagine: Every one of those who were scammed (those whose money is paying for your dinner) were sure they could resist the siren song.

Buy your own dinner! It's not like any of us are lining up at the soup kitchens because we can't afford to eat dinner. :rolleyes:

kumquat 07-27-2010 04:58 PM

Quote:

Originally Posted by W2R (Post 962105)
And just imagine: Every one of those who were scammed (those whose money is paying for your dinner) were sure they could resist the siren song.

I suspect that they were a bit naive and hoped to find a way to "beat the market". I doubt any many were there for the "free lunch". You'll never go broke underestimating the financial knowledge of the average American person. As my signature line says.....

Amethyst 07-27-2010 05:06 PM

We've attended 2 "Free dinners." Both were at well-known restaurants, and both were on subjects that interested me (Roth IRAs, and long term care insurance). I learned what I could (they only give you general info - they want you to make an appointment to learn more) and we ignored the follow-up calls.

The first turned out to be a great time. The dinner was served buffet-style on an outdoor patio on a lovely early summer evening, and we somehow managed to make it from the lecture room to the buffet area and serve ourselves before the main group arrived. I don't remember how we managed that. I think we are just fast walkers! Anyway, we had a wonderful dinner.

The other one was a nice meal, but the tables were too crowded. On the other hand, there was only 20 minutes of lecture. The firm placed one salesperson at each table and we enjoyed talking to ours. She revealed that the firm did its business on a commission (not a fee) basis, though, and that was the end of that for us. We figured they could feed the whole room twice over on 1% of somebody's million-dollar portfolio - and serve better wine, too.

Amethyst

RonBoyd 07-27-2010 06:26 PM

Over the years, we/I have attended many (more than 25) of these and never once succumbed . The worst one was in Honolulu in the mid-70s. We were inticed to attend a time-share arm twisting with a "free" dinner cruise. This "salesman" finally had his boss tell him to stop and leave us alone... more than an hour after the "presentation."

It has been about ten years since the last time I attended one but during my "career" at it, I listened to every kind of pitch imaginable. Bottom line, I suppose, I quit accepting these offers because never once did I feel what I gained was worth what I "paid" for the honor.

Stevewc 07-27-2010 06:48 PM

Looks like the answer is run Forest run !!! :laugh:
I was thinking when I first joined the forum some of you were enjoying the meals and laughing all the way home. Guess Not ...

I've been putting the invitations in file 13 for over a year now but the restaurants have gotten so nice I was beginning to reconsider.
The invites are now some of the nicest places in my area. Tempting to say the least.
Oh well, I guess I keep trashing them ...
Thanks for advise from all,
Steve

mickeyd 07-27-2010 08:01 PM

Quote:

Originally Posted by Stevewc (Post 962058)
What is the best way to play these dinner invitations?
I'm starting to get some very nice invitations to eat and listen to invest bull crap.
How do you guys play this game?
I'm interested in eating but not so much in their investment theology.
How do you guys handle this without getting to much bull concerning the investment part? Or getting caught up in an investment trap?
Thanks for thoughts,
Steve

Hey Steve,

As a long-time free luncher, I recommend that you attend the session. Have a few cocktails before, if you are so inclined. I have been to dozens of these sessions and as Scott Burns has said~ "Enjoy the free lunch, but don't drink the Kool Aid."

audreyh1 07-27-2010 08:09 PM

Quote:

Originally Posted by Leonidas (Post 962066)
I ignore the invitations and buy my own dinner.

Same here! Who can really enjoy dinner while listening to a sales pitch? And I hadn't noticed that the dinners were at really outstanding restaurants either.

I guess I don't really care about "free food". For me, dining out at a nice restaurant is a relaxing, enjoyable experience to be shared with close friends or family. And the food had better be very good, otherwise I might has well enjoy my own cooking at home.

Audrey

Stevewc 07-27-2010 08:27 PM

Quote:

Originally Posted by audreyh1 (Post 962209)
Same here! Who can really enjoy dinner while listening to a sales pitch? And I hadn't noticed that the dinners were at really outstanding restaurants either.
Audrey

Most invitations are not at super nice places so I've tossed them without thinking much about it.
But lately, I've been getting some higher end invites.
Not sure how I managed to get on their list but thought it might be worth considering.
Steve


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