As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

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Sunday, 14 June 2015

SMOL: Trust But Verify???


Trust? We can!

Verify? Not really! We can't really verify it is not fake or fraud. We can't!

In those days, Uncle8888 loved to poke (In Guru's un-moderated comment box in his blog. Every word went out live!) this late Guru who said he has made millions from the stock market by asking him to produce audited statements that he really made millions from the stock market or from his business

Since he had already made many millions, he could easily afford to pay for audited statement to prove it. Right? That was Uncle8888's argument every time when Guru reminded people that he made millions from the stock market. Uncle8888 would go into his comment box and poked him to do it. (Now, you can understand why some bloggers have changed to moderated comment box; but they initially started off as un-moderated comment box. They tio poked until they cannot tahan?)

"Gurus" are gurus. They are not stupid. They are very good at words, sweet talking, clever marketing and counter objections; otherwise they should have long gone. 

Like those Snake Oil men in the past; if we kept seeing the same bunch of snake oil men at every Chinese Wayang Show that meant they have became successful businessmen selling some snake oil to willing buyers. Right?

This was how late Guru would counter back and Uncle8888 learned something from him.

Trust; but You can't really verify!

Late Guru's counter argument.

We trust audited statements from the Big Four. Right?

But it doesn't mean auditors have verified there is no uncovered fakes or fraud! We have seen some audited and listed companies have been faking or fraud so well until one day they were uncovered and start failing. 

Trust is far more important than audited statements?
 

Trust! That is all you need to do. Soon easy money will come to your pocket. Trust me! I am here to help you. Why? Because I have made millions!



Our human weakness is that we will tend to trust more when it sounds so easy, so sweet and so promising; and especially when these came from the mouth of millionaires or from someone who are appearing so rich!




They are so rich so they can't be bluffing us!

Why not? Just try!

BTW, any difference between Greed and Trust?

What say you?











 


7 comments:

  1. That is why we can't help to stop some people falling into scams or tricks.

    ReplyDelete
  2. In general readers prefer to read what they want to read... Reality bites!

    So in order to gain popularity just write what the public want to hear! So those who fall into the tricks sometimes also have themselves to blame for taking the what they thought is the shortest route to success!

    If you want to be a true blogger to yourself, then follow your heart in your writing...

    ReplyDelete
  3. LOL!

    That's a first to see my acronyms as part of a blog post heading!?

    No wonder you can stand my nonsense. You were in the habit of poking "gurus" yourself!

    I have nothing good to say about that late guru, so I shall keep my peace ;)

    ReplyDelete
    Replies
    1. Trust is so easy to ask for it and easy to do too; but for verify it is easy to say but so difficult to do. :-(

      Delete
    2. CW,

      People feel comforted to hear spin that anyone and everyone can do it: If Yan can cook, so can you! So catchy! So simple!

      Of course anyone and everyone can "cook" - whether edible or not is another story. But can anyone and everyone be a celebrity chef?

      Verification is "hard" indeed. Need a bit of imagination to "verify" in a oblique way:

      "How many of your students are institutional traders/money managers?"

      "Oh! You don't train pros, only retail amateurs..."

      "And what's your typical student profile like?"

      "Ah! Retirees and young people still in schools..."

      "Interesting..."

      Delete
  4. Hi CW8888,

    So the question is, can we trust when we can't verify? Everyone has their own hidden agenda so how to trust like that..... hehe.

    ReplyDelete
  5. All that 'trust' is what gave us those scams. Amazingly, the scammers can run at it for years before the skin finally get peeled. Sheesh. Pity the scammed.

    ReplyDelete

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