With investors starved for yield and unnerved by volatility, Mighty Group Inc. offers a tantalizing proposition: earn 25% to 30% interest on an asset that has zero correlation with anything else in your portfolio.
The catch? Mighty lends money to plaintiffs in personal injury lawsuits. You collect only if they do. Plus, the head of this online electronic investment platform recommends that only personal-injury lawyers, or investors who have such lawyers helping them evaluate cases, plunk down their money at this early stage.
“We are not a platform for gambling on cases,” warns Mighty’s CEO and cofounder, Joshua Schwadron, 34, an Emory University law school grad who runs the 21-employee firm out of industrial-chic offices on the edges of New York City’s financial district. “In order to properly understand these investments, you have to have legal expertise. We don’t want people throwing darts.”
