Anyone ever seen Agridime?

https://www.agridime.com/buy-cattle-here

You send them $2,000 per head. They do all the work to buy them, raise them, process them, sell them and guarantee you a 15-20% return after a year.

How can they make a guarantee like that? Seems like the only way for it to be a viable investment would be to buy enough cattle that your 15-20% is enough to cover the cost of at least 1 more head going into the next year. Otherwise you're not really compounding your returns.

Address is actually the Pack N Mail between Joes & Tom Thumb.

I can just imagine the lender's reaction after hearing that.

"wait...your down payment is coming from where?"

Wait, so you aren't sent the contract for review until after you buy the cattle?

Quote:

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You will be emailed a copy of the contract after completion of purchase for this product.

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2k per head is high. Not sure how they guarantee a return.

Quote:

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We are offering cattle for sale at $2,000 per calf. Each calf is contracted into our proprietary beef supply chain.

All cattle purchased during Q1 of 2022 will be guaranteed 15-20% yearly profits. Ask us about a higher guaranteed return for purchases of 50 head or more.

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I'll sell you all the calves you want for $1,999. And there will also be a guaranteed return of 20%+ on that deal…it just won't be for "you"!

500 lb steer is what these days? $150/cwt? That's only $750.

Maybe they're buying finished steers to immediately butcher?

They need to pipe it down with the "guaranteed" language or they'll get a letter from the CFTC soon.

JSKolache said:

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Crowdfunding 10 years ago = innovative way to finance a startup

Crowdfunding today = I'm lazy, please pay for my dumb ideas

No joke - have a family member recently have contract on home sale fall through after it came to light buyer was social media "influencer" trying to crowdfund the property. wtf

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This. Unbelievable. Yet so disappointing that it is believable in these times right now.

Where they went wrong was by selling investments in something real.

Had they offered investments in linked list hashes or ape jpeg's, they would be perfectly okay.

chris1515 said:

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https://on.mktw.net/3tiZNQc

Wow. They raised $191,000,000 before the SEC shut them down!

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People are so hungry to expend minimal effort and make a quick buck. They become blinded and cannot see the forest from the trees.

I feel like these schemes are easy to determine they are fake. But at the same time, I feel like you could take advantage of it and be in early and out early with a buck or two. As long as there is no time requirement.

Quote:

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In all, the pair are accused of duping 2,100 investors in 15 states out of $191 million, the SEC said.

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$191m from 2,100 investors? That averages out to $91,000/investor! I don't know if I feel bad for the guy cutting them six-figure checks or not. I can't imagine putting that much money in anything without a ton of due diligence, with additional safeguards, too.


At what point do you say "you're giving me a 15-20% return every year? Can you explain to me why a bank won't give you a 5-8% loan and you get to keep all that extra money?"

There was probably a Farm Credit association dumb enough to give them a loan too.

So, some outfit can't get their own financing and turns to total strangers to let them in on the deal. And people are going to send money to total strangers. Seems like a situation in which everyone could get what they deserve.

People investing in something they know nothing about.

Selling beef wholesale for $6/lb!

I know next to nothing about cattle ranching, but when I searched I see that this was sent to non-ag moneymaking websites, and used as filler by news websites. Here are just a few.

https://moneywise.com/investing/reviews/agridime

https://stackstashers.com/agridime-review/

https://thecollegeinvestor.com/39982/agridime-review/

https://www.hutchnews.com/story/news/2021/08/30/agridime-lets-consumers-buy-steers-cows-keep-kansas-ranches-farming-agriculture-beef-supply-chain/7186280002/

Someone got lucky here... Until the SEC claws it back.
https://www.wallstreetoasis.com/forum/off-topic/cattle-contracts-with-15-return-anyone-do-this