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.

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!

Currently; it about 54% to destination!

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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

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Saturday, 12 June 2021

People are gullible to believe whatever’s told to them': Inside the mind of an ex-scammer

Read? 'People are gullible to believe whatever’s told to them': Inside the mind of an ex-scammer

In Jon’s case, his scams involved timeshare membership - a ‘vacation package’ where one pays in advance to use a resort or hotel overseas for a period of time at a price below the market rate. He had conned victims into believing they could recover money from terminating their membership. 

But he believes no matter the scam type, victims share similar characteristics that might make them more susceptible to scammers who tend to be “very good in human psychology” and know how to “trigger emotional states”.  


Greed is one notable characteristic. 

Jon recalled a bulk of his victims as “rich, but want to save so much”. Couples, especially the newly wed, also tended to be more greedy when it came to affordable holidays. 

“They would start asking us, how much would it cost to bring my parents or if I were to go every six months? What is the discount? Usually we don’t tell them these things (upfront), but when we observe their eyes light up as we do the price comparison, we know they’re greedy,” he said. 

“For young couples, we’d mention the product they purchase can be passed down to future generations. We told them if there were inflation, prices would go up, but this holiday price will stay the same. Now when I think back, that line is very stupid.” 


Read? Better safe than sorry: Resist urge to invest in too-good-to-be-true schemes

Be careful of "kind" people who voluntarily stepped in to help us when we are kena scammed! Red flag! We kena scammed before could mean that we have flagged out as easy prey for the next scammers!

Real People. Real Losses

CW8888: Time-sharing scam; one ex-colleage lost money his money. One agency stepped in and called for a meeting for investors to put up $5K each and collectively the agency would have enough fund to fight the case and retrieve some lost money. 

The Agency subsequently also disappeared.

Beware! There are scammers looking for a kill and scavengers looking for your dead bodies too.


  1. A person is vulnerable when he wants something badly. Good to be self-aware.

    One good takeaway from the article is not to be pressured by a skillful snakeoil to BUY TODAY. If the product/service is really so good, why is the salesman so worried about customer spending some time to do due diligence?

  2. CW,

    Yup, good salespersons can size up a customer from the first few minutes. We then tailor our sales pitch to trigger the hole in their hearts.

    Gold diggers are good at it too.

    Remember the gold trading scams? Some victims instead of waking up, believed another gold trading scammer can help recover their losses... Talked about lighting striking twice!

    That's why fake gurus like to milk their students over and over again.

    If bei kambings can pay thousands for kindergarten materials, they surely would pay even more for advanced advanced, and ultimate ultimate master of the universe classes!

  3. Scavenger Scammer - Wow!

    New usage of England.

    Try to have some self defensive Psycho b4 hand, that is, "No one is going to put money into your pocket for nothing especially Stranger".

    On the other hand if U are target by scammer/s, all they have to do is to search for your hidden buttons to press - buttons = weakest points.

    And i bet U all of us have some weak points.

    Nevertheless so far have U heard of scammer of scammer.

    We only watch in HK movies make believed.

    1. I believe all of us have things that we want very badly. That's normal and can also be good to motivate us to progress. Problem comes when we don't have realistic expectations to achieve these things. Want short-cuts, lazy way out.

      End up don't even need skillful snake-oil to push the vulnerable buttons. Ownself push ownself buttons.

  4. Once we are near King Snake oil; it may be harder than we thought we are self-aware and not fall into their gifted tongue showing wonders that we can achieve through their help. Read? Bei lambing and Snake Oil

  5. Once on vacation on Koh Samui island and we came across an Ang Mohs on motor cycle scouting for victims.

    He tried to sell us "timeshare membership - a ‘vacation package’" scam.

    We almost got scammed.

    We were brought to the "office" when we changed our mind about the deal which we only agreed verbally.

    After some to & fro, the "leader" of the scam i supposed, allowed us to cancel the deal.

    Why she agreed, i don't know.

    Perhaps she thought we didn't have much money to scam.

  6. 财 不 露 眼 is really Chinese Wisdom to me.

    And there are a lot of people like to "Show Offs".

    Because they must always show they are always "ATAS" of U. - In everything possible. LOL.

    These are the people Scammers love best.

    And sooner than later they will meet one.

    If U meet me personally anytime U will think i am "“ 一 无 所 有 ” .

    Only here i talk too much, too much, too much.


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