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?
:-)
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Ouch!
ReplyDeleteYet 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.
What?
DeleteAnd 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
Hmm .. what about multi millions pay package of CEO as employees e.g. DBS CEO?
DeleteErm, 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.
DeleteSo 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! 🤣
🙄 Nope. 😂
DeleteCW,
DeleteWell, 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.
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?’
ReplyDeleteNo real financial harm if retirees are engaging the market with their play money. Can play play! No play. No fun!
ReplyDelete