Summary

The video discusses a personal experience with a stock market scam wherein a caller claimed to have insider information about stocks. Initially successful in predicting stock price increases, the caller was ultimately revealed to be exploiting statistical manipulation to deceive victims.

Key Points

• A scammer cold-called the narrator with predictions about specific stocks.
• The scammer initially made successful predictions, building trust with the narrator.
• He used a method of telling half of his victims that a stock would go up and the other half that it would go down.
• After several weeks, he selectively followed up with only those he had predicted correctly.
• A stock broker explained that the scammer’s technique was a manipulation of probability rather than actual stock knowledge.