Friday, December 25, 2009

Why roulette is better than land banking

Dear Mr. Tan,

Read this article

Land Banking Companies
Why the majority of them are (legal) scams

UK land sold by Land Banking firms have about a 1% chance of receiving planning permission over the next 20+ years.

That means you have a 99%+ chance of owning a piece of land that is almost completely worthless.(the land is typically marked up by 1500% when you buy it and resale on the open market without planning permission is almost impossible)

In roulette you  have a  2.7%  chance of winning  if you put all your money on a single roulette number.
You will also find out immediately  that you have lost all your money and should learn very quickly not to gamble. If you win Roulette  will also give 35 times payout not the two to three times offered by the land banking companies.

If I were to sell a  single roulette number with a 3 to 1 payout  for winning as an amazing investment opportunity I am sure I would be shut down and probably put in Jail.

Can anyone explain why are Land Banking companies not subject to the same scrutiny ?


Anonymous said...

Under Singapore laws, Land banking companies are considered "investments."

Roulette is a "gambling" activity under our laws.

The "elephant in the room" is that Singaporeans do not understand the differences and distinctions between:
a. an investment
b. a speculation
c. a gamble
d. a trade
e. long term does not equal safety
f. high return does not mean risky
g. low return does not mean safety

Anonymous said...

Many consumers do not understand insurance and how they work for them. This is the reason why the insurance agents are able to con them
Fear and ignorance are exploited. To the agents every damned thing must be insured disregard the probability.
This results in under insurance where they should have more and over insurance where they should none or less.
It is like throwing a stone in the darkness and hope to hit the right target. Unfortunately, evidences show the insurance agents are incompetent and they anyhow sell to make commission.They are all salesmen and do not have enough knowledge to advise. So engaging an insurance agent is like betting on the roulette, 'heng suay', where the odds are stacked high against the consumers. The probability of loss is almost certain with the agents.

Anonymous said...

The world has a balance in everything. Good is balanced with bad. So honesty is balanced with dishonesty.Cheaters are balanced with Cheators.

This has been going on since time memorial. And this will continue till doomsday.

So what the problem, live and let live.

Anonymous said...

If you are the victim let's hear what you have to say. Live and let live and move on?
No, evil must be eliminated and cannot let it live side by side with goodness. Evil insurance agents must be terminated.

Unknown said...

This thread on land banking calculates the chance of getting your money back on UK land banking at between best case 0.027% and worst case 0.0001%.

That would make the highest risk/return bet on roulette at least 100 times more likely to give you a return than an investment in land banking.

As for those who say scammers should be left alone to cheat and steal see how you feel when one of these parasites signs your parents up for all their spare cash.

Anonymous said...

The insurance agents are being roped to represent them becuase the agents have a ready large client base to tap.Incentivise them with big commission and the agents are raring to plunder their own trusting clients. These land Banking companies know that giving big commission will make these insurance agents bolder so that they can come with innovative strategies and 'facts' to con their own friends and policyholders in the name of diversification.
Beware of them.

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