Dear Mr. Tan
I was recently introduced to invest in a certain company ( X ). I was told that the company has partnerships with Y and Z. I was also told that the one of its companies will be listed by next year and thus an investment of $10,000 will reap a profit of 87%.
As this is my first time in investing, I searched for information on X through the Internet. I found only bad reviews about X. Several people on the forums said that X is linked to another company which is believed to be a scam. I don't know what to look out for and how to protect my money.
REPLY
I was recently introduced to invest in a certain company ( X ). I was told that the company has partnerships with Y and Z. I was also told that the one of its companies will be listed by next year and thus an investment of $10,000 will reap a profit of 87%.
As this is my first time in investing, I searched for information on X through the Internet. I found only bad reviews about X. Several people on the forums said that X is linked to another company which is believed to be a scam. I don't know what to look out for and how to protect my money.
REPLY
Never invest in any scheme that you are not familiar with, as the potential for being a scam is quite high.
Join FISCA and learn about investing in the proper way.
You can attend the education talks organised by FISCA here
You can join FISCA as a member and enjoy discounts on the talks
To join as a member, register here:
The membership fee is $36 a year, and you can access the website and get a
newsletter twice a month.
2 comments:
Never invest in any scheme one does not understand how its underlying business or financial activity will generate returns for the investor. Even if one understands the underlying business or financial activity that generates returns for the investor, he still has to analyse carefully whether the returns generated for the investor is sustainable and consistent improving and is there any risk to loss of his invested capital. To do investments properly, one has to become financially educated so as to make educated decisions for oneself as there is no free lunch in this world. Even investment professionals can lose money, what's more anyone without any financial and investment education.
Guess there are many who, out of greed, know they are investing into Madoff-like ponzi schemes, being the early birds.
The 2% monthly payouts are too good to miss, they could make a pile and run some time down the road, and let other later investors carry their baby.
Good if they could run off in time, trouble is, more greed may over ride logic for some people, then get caught and now crying daddy and mummy for help.
But Daddy Tharman said,
"Regulations cannot cover all investments". Simply, you have to check his MAS Alert Investor list, and in LKY's style, open your peepers wide, wide, before you put money into any scheme that offer payouts like 24% a year.
What a regal style of addressing a hot topic, just follow the old Taichi Master's way, delivered in a "killing you softly" manner, as long as it's not Uncle PAP's money being lost, Daddy dun care.
The message is brutally clear -
You know how to make so much money before, then you should know how to invest further. Dun come running to Daddy for help when trouble comes a knocking.
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