I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


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.

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

Monday 24 May 2021

It doesn't mean auditors have verified there is no uncovered fakes or fraud!

 

Hmm ... reading this in investment blogoshere reminded Uncle8888 who has also personally lost money on audited fraudulent s-chips where fixed deposits and cash balances in "banks" were also fake!

Quote  :  "I try to put my money at the top platform/dapp (decentralized application) that has undergone audit(s) but when it happens"

Read? SMOL: Trust But Verify???

"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!


4 comments:

  1. 5 ways to protect:

    Position size

    Diversify

    Harvesting (taking partial profits)

    Trailing stop

    CPF 🤣

    ReplyDelete
  2. CW,

    Just ask those banking "professionals" in-charge of lending to Hin Leong Trading...

    That's why investing is not easy...

    But how to make money off retail clients if you tell them even professionals can fall for scams and frauds?

    So you peddle "trust" - If you believe me, follow me!

    Faith-based investing favourite friends:

    Passive investing works! (But in day job we parrot must be proactive, use initiative... Complete opposite?)

    In the long run... stocks always bounce back up!

    Diamond hands - new bottle to contain Buy-and-hold old wine ;)

    Pretending you are "investing" when all we do is saving... (If not who so stupid pay fees to learn how to save?)

    Ouch!


    ReplyDelete
    Replies
    1. Quote : "Diamond hands - new bottle to contain Buy-and-hold old wine ;)"

      Hmm... me is a veteran Diamond Hand in Keppel, Sembcorp Ind, and DBS over 20 yrs before new bottle is coined. LOL!

      Delete
    2. LOL!

      Now you can be just as hip and trendy as millennials!

      Lucky you never diamond hands on SPH ;)

      Delete

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