u/Realistic_Command_87 wrote (the comment Michael replied to):
Interesting, I do appreciate the insights btw. I think the “forward looking statements” are the most questionable here, it’s one thing to claim that “it won’t always be this bad” and another to claim “it will recover in 6 months” — the latter could be considered reckless (even No
u/michaelnovati replied ·
Yeah the tone and confidence of the speaker also impact people in a way that words on paper might not.
the direct quote is ."I think 6 months we'll be fully back to where we were, but it's really not bad now genuinely'"
Bundle that with charismatic confidence and (paraphrasing) 'I've been doing this for 30 years and know the industry better than anyone on Reddit'
You start to see how something might not be "legally" clearcut fraud, but might be misleading people with bad advice.
When bad advice crosses into fraud depends a lot about the intentions of the person and it's very hard to prove that in court.