Hi Mr Tan,
I just want to share with the readers that I have suffered 20% loss of my family's wealth via DCI investment. We just want to make good use of money by earning a conservative interest yield and the banker had effectively helped us made a loss!
Our original fund is SGD later converted to AUD and then converted to USD. Double whammy with SGD and USD currency sliding down. You will see that the banker will stick to the same pitch. Keep on investing USD. The currency will rise up sooner or later. The banker of mine even dared to say that the USD currency will go up to 1.45. This is a dangerous message. Exactly your advice.
The banker said we are not losing your base fund. Just keep it as AUD and USD until the currencies rise. This is all bullshit. Now, we are stuck with USD and earning no interest rate. This is a long term investment loss in value and in time. Please don't invest in DCI unless you are economics/market savvy yourself and is able to take risk.
Whatever on Dual Currency Investment
DCI is the next riskiest investment after Futures Trading, for the ordinary Jack, better to lay off Currencies completely.
ReplyDeleteYou have to jaga your position like a hawk, keeping close tabs on both the political and economic pulse on the country. Even experienced currency traders are caught unaware, what more the layman. Many professional traders put up glowing analysis report of an investment, but then take opposite position behind. First, never trust your Bank Relationship Manager, avoid them like the plague, they are out to con clients.
The collapse of the Euro and the appreciation of the Swiss Franc are recent examples of a case study.
I am aware of what happened , I am an insider. First this DCI are for savvy people , second if you weren't tempted no people can make u do it. The interest rates are higher for a reason. Even I do DCI myself,
ReplyDeletebut we know what we are doing... good luck in future, unless u uneducated old folks.. u don't stand a chance....