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Vail Resorts Inc. Message Board

ericcartman69u 5 posts  |  Last Activity: Oct 23, 2015 1:39 PM Member since: Jan 24, 2013
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  • ericcartman69u ericcartman69u Sep 24, 2015 2:03 PM Flag

    Worse, how does an IRA investor make a premium call if the yearly IRA contribution isn't enough to cover the call? These people are in deep doo-doo.

  • Reply to

    Two Things

    by angellaj2112 Sep 18, 2015 1:56 PM
    ericcartman69u ericcartman69u Sep 24, 2015 2:08 PM Flag

    I doubt Pardo is even in the USA anymore. His money is in Gibraltar, or was in Gibraltar (I'll bet he is moving it around). The lawsuit reads like the message board here from 2008-2014 or a Seeking Alpha article from 2011.

  • ericcartman69u ericcartman69u Sep 24, 2015 6:15 PM Flag

    They were perfect for an IRA (lol)! Why? According to the promotors:

    - Diversification can be accomplished with 10 or more policies, thereby giving an income stream to cover the RMD.
    - The money was guaranteed to compound (Everyone dies, right?), giving tax-deferred accumulation.
    - According to Pardo during a speech, the initial investment was calculated to cover the premiums to maturity.
    - Life Partners found a first rate trust organization to ensure (I love that word) the IRA is protected.

    Well, perhaps these things weren't perfect for IRAs and ERISA accounts.

  • Reply to

    Moran v. Pardo

    by typikon2002 Oct 16, 2015 10:51 PM
    ericcartman69u ericcartman69u Oct 19, 2015 5:40 PM Flag

    You can double check all you want, but Pardo lied to the fractionals using every single Cassidy LE. Why? Cassidy has no actuarial training and never attended an actuarial conference. Furthermore, he never monitored his questimations for accuracy. He used a HHS table that no one uses for rich people who have the best access to healthcare and have actuarial reasons to live longer. Yet Pardo sold Cassidy as an expert in this field when in fact Cassidy had no idea what he was doing. Heck, the guy was hired at the funeral of his former partner who died of a brain hemorrhage. When the s___ started hitting the fan Pardo switched to a Cassidy LE + the 21st...and magically they averaged the same. But what about the previous LEs? That is where Cassidy was likely to be 100% too short (and 21st along with everyone else was 2x longer).

  • Reply to

    Moran v. Pardo

    by typikon2002 Oct 16, 2015 10:51 PM
    ericcartman69u ericcartman69u Oct 23, 2015 1:39 PM Flag

    21st was the worst, or close to it. Mike Fasano always ended up much closer than anyone else, but some don't love his model. Like suvacrew says, there is a lot of guessing involved. We all know Pardo and his gang were not guessing when they told people the Cassidy LEs were solid. They knew the LEs were not close to reality since they designed the business model around it.

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