Wednesday, November 19, 2008

A doctor's definition of caveat emptor

Read this letter:
http://www.straitstimes.com/ST%2BForum/Story/STIStory_304035.html

The doctor said nothing about "eyes opened" or "eyes closed" or "greedy investors".
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2 comments:

zhummmeng said...

Doctors too will have to bear the consequences.As long the doctor has followed a procedure and taken all precautions, legal and ethical, he should be absolved from blame if the something goes wrong. It is not caveat emptor.
He cannot have a sign on his door that says "you are here at your own risk. Please open your eyes big ,big" " or " please read the prescription or brochures provided"
Similarly with advisers, RMs or insurance agents, they MUST comply with section 27 of the FAA and if they do they should not be afraid of being accused of mis-selling or conflict of interest.
It is often the product sellers or pushers that commit mis-selling due to conflict of interest, incompetence and dishonesty.
I wonder if the doctors sell and push a cure all product, no need consultation or diagnosis what would be the consequences. This is reminiscence of the snake oil salesmen or the koyok salesmen at Waterloo Street.
The insurance agents who push wholelife products sell on the basis that WL is a cure all product.Of course this is the not the true reason. It is a beleivable ruse to con the unwary, ignorant customers, old folks and the clueless.
Insurance agents , let your conscience be your guide, if you still have it with you.

November 19, 2008 10:52 AM
Anonymous said...

Financial doctors? who qualify as FDs?
maybe only 5% of the advisers in the markets and the others are drug peddlers, trafffickers and couriers of Wholelife insurance products, the cocaine of insurance.No wonder so many addicts out there.Many consumers feel 'piece' of mind, more like hullucinations,when they buy Whole life. Yes, it is hallucinations. Reality comes only when they struck
by death or dread disease to realise that the peace of mind is actually pieces of broken lives, maybe not for themselves but for their loved ones.
An adego calls opponents of WL haters of WLs. No, the traffickers and the couriers of the cocaine WLs, they are more dangerous.

November 19, 2008 12:13 PM

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