Recently an article popped up on our Mentor Program graduate forum by Scott Pape who writes for the Herald Sun in Melbourne and undoubtedly it was syndicated nationally. Traditionally, I tend to let these sort of things slide simply because of the standing of the Herald Sun somewhere between a Harvey Norman catalogue, a chip wrapper and a self help manual for bogans. The Wall Street Journal it is not.
Unfortunately the article trots out tired old chestnuts about CFDs and introduces us to a supposedly successful financial planner called John who managed to lose 500k trading CFDs. It would seem from reading the article that John is under qualified to run a Mr Whippy van let alone provide financial advice for unsuspecting strangers.
The full article by Scott Pape can be read here
An earlier article I wrote can be found here.