Posts: 4,958
Threads: 1,349
Joined: Sep 2010
Reputation:
36
(26-01-2013, 11:40 AM)safetyfirst Wrote: IMHO, this is a STUPID way of making an investment judgement. What these people see at the presentations is practically useless because a fraudster would have perfected his acting skills.
You are right. People make investments based on emotion (greed, envy etc.) rather than in a logical, rational way. But this dose of rationality usually only comes when people have lost money, sometimes (sadly) quite a huge chunk of it.
Posts: 3,474
Threads: 95
Joined: Jul 2011
Reputation:
17
Every now and then i think it is worth to be reminded that ,"In investing, what separate the victims from the victors is Discipline and Skeptisicm.
Cantonese version - literary translation:- "Where in the world you have so many big bullfrogs jumping all over the street"?  
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Posts: 928
Threads: 1
Joined: Oct 2010
Reputation:
10
Aiyah no worries lah. Lee song teck must have gone to other country to do charity work. Didn't he mention he likes to do charity work? [/align]
Posts: 55
Threads: 2
Joined: Sep 2010
Reputation:
1
http://www.valuebuddies.com/thread-8-pos...l#pid17839
I wonder how many folks bought into his scheme after reading his Sunday times interview.
The reporter/editor must exercise some due diligence when selecting interviewee or they wld have unwittingly played a part in promoting the Ponzi scheme.
Posts: 2,802
Threads: 170
Joined: Sep 2010
Reputation:
1
27-01-2013, 12:08 AM
(This post was last modified: 27-01-2013, 12:09 AM by pianist.)
(26-01-2013, 09:01 AM)paullow Wrote: in my opinion LST is only 33yr old. seems to own tens of millions of ppties in m'sia n drives a bentley. and he advertises regularly saying that he is a god send investor guide. to me, its rubbish. its hoax.if trading gold is so profitable, the forbes list of pple would have done it. ts only those poor thing pple who use their life savings to invest with him n inthe end now he is uncontactable. if its too good to be true, it is.
same as a lady called wendy kwek and david yuen from broke to own 50ppties. all scam in onecwayvor another. i think he is promoting himself as the son of god is it?
btw why do u think wendykwek's business model is a possible scam?
i feel with existence of investment model like her or david's, which is i think is speculative and opportunistic, there is no chance the man on the street can afford a house. to me, they are the source of higher and even higher property price..the authorities should look into the harmful effect of such businesses to our society.
Posts: 209
Threads: 1
Joined: Aug 2012
Reputation:
1
There will always be scams and always willing victims - a lack of skepticism combined with greed (we all have this) ensures this.
No way to foolproof this imo.
Posts: 463
Threads: 7
Joined: Feb 2012
Reputation:
12
(27-01-2013, 12:08 AM)pianist Wrote: (26-01-2013, 09:01 AM)paullow Wrote: in my opinion LST is only 33yr old. seems to own tens of millions of ppties in m'sia n drives a bentley. and he advertises regularly saying that he is a god send investor guide. to me, its rubbish. its hoax.if trading gold is so profitable, the forbes list of pple would have done it. ts only those poor thing pple who use their life savings to invest with him n inthe end now he is uncontactable. if its too good to be true, it is.
same as a lady called wendy kwek and david yuen from broke to own 50ppties. all scam in onecwayvor another. i think he is promoting himself as the son of god is it?
btw why do u think wendykwek's business model is a possible scam?
i feel with existence of investment model like her or david's, which is i think is speculative and opportunistic, there is no chance the man on the street can afford a house. to me, they are the source of higher and even higher property price..the authorities should look into the harmful effect of such businesses to our society. well, if wendy n david are so good and so rich already, y do they need to advertise and conduct talks. y we dun see wee cy, ong bs, peter lim etc doing so?
do the maths. david claims to own >100ppties n passive 300kpm, wih that wealth, shdn't he be on forbes...?
Posts: 9,841
Threads: 711
Joined: Mar 2012
Reputation:
64
I recalled an interview of similar victim, the conclusion was it is much due to greed, instead of lack of skepticism.
The victims went to CAD immediately after smell a rat, with all the necessary documents. I remembered one comment from the victim, they knew the risk, but it is very profitable as long as you are not the last person. It mean he knew how the scam works
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
Posts: 4,958
Threads: 1,349
Joined: Sep 2010
Reputation:
36
(27-01-2013, 09:36 AM)CityFarmer Wrote: I remembered one comment from the victim, they knew the risk, but it is very profitable as long as you are not the last person. It mean he knew how the scam works
A little like buying at the top of the market and hoping there are more greater fools out there. Knowledgeable yes, but foolish in believing one can escape unscathed before the house of cards collapses!
Posts: 463
Threads: 7
Joined: Feb 2012
Reputation:
12
27-01-2013, 10:01 AM
(This post was last modified: 27-01-2013, 10:20 AM by paullow.)
let us recall clement chiang who said to have phd in futures...
he advertised for those gullible n greedy pple to join him.
look wat happened..
those advertising for pple to join their talks may well be scams just that they are not exposed yet. but real or not, its anyone's guess...
the rich n wise will not join cos they dun need it anyway. its the wanting-to-be-rich pple who would join.
|
Homepage
PR Newswire
