As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

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

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Sunday, 13 December 2020

Company offering pandemic stock tips accused of $137M fraud

 Read? Company offering pandemic stock tips accused of $137M fraud

…Ads for Bishop’s services call him a “genius trader who has made millions in the stock market.” The company’s website says Bond is a former gym teacher who taught himself to trade stocks and rid himself of $250,000 in debt.

The company’s marketing materials don’t tell consumers that Bishop and Bond primarily derive their incomes from Raging Bull customers’ subscription fees, not from stock and options trades. The suit says they have incurred “substantial and persistent losses” from their own stock and options trading activities.

Read? Rich As I Say, Not As I Do

Same same as in our local investment blogosphere!

Have you notice the increasing number of local bloggers turning into customers’ subscription fees or training fees, not from their own stock and options trades to increase their "investment or portfolio" income?

:-)








15 comments:

  1. Ouch!

    Yet there are willing subscribers? Exactly what are these subscribers looking for?

    When people asked how to grow their wealth, most actually know the answer. Except they dont want to hear nor like what they already know. Instead, they are hoping to hear, and to find a way to grow their wealth quickly. They want to be RICH now, not 10 years, not 30 years down the road.

    They dont want to hear the old fashion, tested way to become rich. That is to work and earn an income. To spend less than they earn, to invest wisely and safely, and to rinse and repeat this process over many years. Time is an important ingredient to wealth creation.

    ReplyDelete
    Replies
    1. What?

      And I thought the old fashion time tested way to become rich is to strike lottery or to marry rich???

      Wait. This one cannot be out-of-fashion:

      Study hard, get good grades, enter elite schools, graduate to join big daddy or a big MNC, and climb up the corporate ladder.

      Will young parents today tell their children to chill?

      No need good grades since every school is a good school?

      What's the point of climbing the corporate ladder when anyone and everyone can be rich just by taking a few days of masterclasses or paying subscription services so snake oils and tell us what stocks to buy and sell? And at what prices too!

      Look mom! No brains needed!!!


      I guess the snake oils all realise one thing. Its easier to get rich when you have your own business ;)

      Why aspire to be shepherd when we can be a landowner instead?


      I don't think anyone needs to read Rich Dad Poor Dad, or to take a course to realise it!

      Our 5000 years of Chinese wisdom couldn't be more crystal: 工字不出头


      Delete
    2. Hmm .. what about multi millions pay package of CEO as employees e.g. DBS CEO?

      Delete
    3. Erm, Lawrence Wong went to neighbourhood primary school, neighbourhood secondary school, neighbourhood JC, & an average US university. He also grew up in HDB flat where his parents still stay to this day.

      So all schools are good schools & all homes are good homes! LOL!

      Disclosure: I was ex-schoolmate of his in both Pri & Sec schools, but not in JC coz he's couple years younger. But definitely I'm not as successful as him! 🤣

      Delete
    4. i thought Lawrence Wong is the son of Wong Kan Seng; No?

      Delete
    5. If not why He looks like him?

      Like father like son. No?

      Delete
    6. CW,

      Well, you figure it out.

      Is it better to be a landowner that can afford to pay multi millions to a CEO?

      Or is it better to collect multi millions as a CEO sellsword ;)


      The rule of thumb is for every dollar you pay a CEO, as a landowner, you would expect him to earn ten dollars back for you.

      Anything less, you kick him out!


      The definition of "passive" differs whether one is landowner, shepherd, or sheep:

      Landowner - Exchange gold for talent. Practices To Insure Performance (TIP).

      Shepherd - Exchange gold for time. Why do it yourself when you can pay others to do it for you?

      Sheep - 5 minutes a day. No brains needed. Outsource thinking to others. Just follow blindly.

      Delete
  2. Besides earning and saving, able to delay gratification, and don't have the urge to keep up with your neighbors next door. Must also be really to the point of obsession about the stock markets or learning about anything to do with with financial matters; from books and other people's experiences and of course our own mistakes

    And must have a little bit of skepticism about what U see or heard.
    Cantonese saying, "Where got so many Bull Frogs jumping all over the street", always applicable.

    Recent Experience:-

    HST was offered as IOP an ETF, to iOCBC clients with as much as U want to apply; with out brokerage fees.
    At the start, was really excited to apply as much as possible (depending on my cash reserve lol) because i think i could keep HST as a "Legacy Stock".

    After reading more and more HST's articles and thinking aloud on CW8888's blog, my built-in skepticism kicks in.
    To me, don't think this IOP's HST is a good candidate for 1st day trading for stags.

    This is actually my 1st criteria for applying any IPOs.
    Anyway it was naive of me to think an ETF can be suitable for stag.
    So far have anyone come across one? LOL.

    So applied only the minimum lol. - 5000 units. Actually still can stag but only about 2 cents only.

    FYI, never attended a paid investment course. Never attended an AGM or what not. (Don't ask me how i know about company's prospect then. LOL.) Remember BTC will do BTC way.
    But had attended brokerages's sponsored courses or seminars.

    So how to attend expensive Snake-Oil-Sale course?
    At times, this "SOS" course lure U in first with free seminars/talk.
    And i think it quite dangerous to attend in the first place because U may be psycho to join and pay on the spot.

    Just like Phone call Scams -never entertained them but switch off immediately.
    Off late, received a few calls. Usually about DBS calling U about some crappy things. Always immediately switch off phone b4 U can say go. Sometimes, it was call from China or mandarin speaking China's accent sweet voice - same treatment.

    My 2 cents to be a SKEPTIC on the safe side to earn a higher chances of success in the world of investment. and not being CON.

    "The difference between a successful stock investor and a unsuccessful one can be due to a bit of built-in skepticism one has and the other has not".

    Of course the worse case is people with built-in gullibility though they are educated with normal IQ ( Have experienced with my own eye and ears).

    i feel sorry for them but the World is just like this lol;
    No Bei Kambings, No Wolfs exist.

    Shalom.

    ReplyDelete
    Replies
    1. Glad that someone highlights it. It seems ubiquitous to have property agents,and online marketing selling snake oils. Common pitch - no or little money to wealth is to lure the gullible in for their expensive courses. No one has ever asked them this ‘can I pay you the course fees when I have succeeded?’ Or ‘if their methodology is so successful, why don’t spend their time making more money, instead of wasting it with teaching/sharing with idiots like us?’

      Delete
    2. Yes!

      i always tell my family to beware - no one (especailly strangers) approaches U ( aka call u on the phone) to put money in your pocket.

      Usually they want something from U be it money or anything but very rarely to bring U the Good News without anything in exchange.

      That's life.

      That's reality to me.

      Shalom.

      Delete
  3. i think this is quite interesting.
    And have changed my mind somewhat.
    Also because of CW8888's trading psyche.

    https://www.marketwatch.com/story/is-it-wise-for-retirees-to-actively-trade-stocks-what-we-can-learn-from-2020-2020-12-15

    NVM, always something "new" to learn and adapt.

    " 活到老,学到老"

    Shalom.

    ReplyDelete
    Replies
    1. No real financial harm if retirees are engaging the market with their play money. Can play play! No play. No fun!

      Delete
  4. It is not always the Smartest, Speediest & Strongest that guarantee to survive but anything than the one that can adapt best in any situations or environments.

    Want real examples?

    Google then.

    It is definite applicable to stock market investing too.

    ReplyDelete

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