The Family Fool October 01, 1997

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The Principal's Podium

When it comes to scams, I've seen almost everything. And if I haven't witnessed it firsthand, I've seen it re-enacted on America's Most Wanted or reported on during some TV news magazine show. For instance, I know that it is impossible to win the huge panda at the carnival by tossing 10 rings onto the milk bottles. And forget about outwitting those thrifty guys on the street corner with their walnut shells and peas or funny decks of cards. Even when you pick the right shell, you walk away without your wallet. I've witnessed rear-end-'em-and-rob-'ems and seen mothers cradling "injured" infants begging for money for the "doctor." Heck, when the Volunteer Firemen's Association calls selling tickets to their annual ball, I tell them no deal, until I see something in writing.

That's what five years in New York City does to a girl from Kansas.

Here at Fool HQ, we're attuned to other types of scams (there's not much three-card Monte on the streets of Old Town) -- those perpetuated by disreputable brokers. This week's Family Fool looks at ways to protect yourself from becoming a victim of an investing scam. The offers can be tempting. Trudy Bowen (TMF Hoyden) tells you how to tell a pitch from a scam with 10 Tell-All Questions. In Play Dough she offers ideas on teaching your kids how to be smart consumers.

Also this week, Betty Ann Habig (TMF Catlst) writes about A Woman's Work in her Family Fribble. We'd like to hear more from you about your experiences (or those of your kin) with money and investing. Type it up and send it on over to me at TMF [email protected].

Any questions? Comments? Conundrums? The Family Fool message board is a-flutter with activity.

See you there...

Dayana Yochim
TMF School
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