Tag Archives: caution

Who Can You Trust When Investing?

Guest Article By Irene Mori 

Fear and uncertainty caused by the coronavirus pandemic have spread through the world. On top of those problems, the issue of police brutality of black men has been brought to the attention of the world once again. The tragic killing of George Floyd by a Minneapolis police officer and police killings of other black people have flooded the news. The demonstrations, peaceful protests, and sometimes riots and violence have captured the interest of the United States and other parts of the world.

The world is in turmoil, and investing may not be on people’s minds. But with the pandemic, many people have suffered financially so money is an issue. They may be looking for a way to earn some much needed money.

There are still a lot of gurus out there who want you to trust them by signing up for their stock investing newsletters. They promise big returns and make big claims. Their testimonials sound almost too good to be true. Perhaps they are.

The so-called investment gurus are touting their programs even as the unprecedented times caused by the coronavirus have affected everyone. They are saying that there are exciting investment opportunities in oil, banking, crypto, medical companies, and more even during these troubling times. They have common names like Jon, Tom, Ken, Alex, Mark, and Jeff plus some more uncommon names such as Jordan, Derek, and Kyle. Who can you trust? It is hard to know.

Sometimes they promise 100% returns on your investment or they may be bold enough to promise $2,000% in a year. They say that you will most likely get your return on investment with your first trade. If they promise big returns, it is best to make sure they have a money back guarantee if they do not produce as claimed.

If those promises would come true, it would be a great opportunity and blessing. However, too often they are false promises which do not come to fruition. If you can find a program which pays as claimed, you can consider yourself one of the lucky ones.

It’s pretty pathetic when not losing is considered winning, but that is the case in so many investments. We may be happy to just not lose our shirts although the gurus told us we would win 100% or more with their recommendations. When going with the recommendations made by the gurus, it is important to cut your losses before you do lose your shirt so to speak. Winning is the goal, of course.

Fake claims and dead ends can bring a lot of stress. Minor setbacks can be overcome without major losses. It is tempting to listen to investment gurus to follow in their footsteps to get winning trades. However, you can’t trust many or most of them. It is best to research and learn so that you can trust in yourself to make the best decisions.

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Article Source: https://EzineArticles.com/expert/Irene_Mori/366585

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Beware Of Greeks Bearing Gifts

There’s been another disturbing trend that I have been seeing on social media lately. And that is unsolicited financial advice. It’s even bordered on unsolicited lifestyle coaching.

Whenever I see these type of posts and those that “recommend” a specific stock, I start to wonder. What is their agenda? I’ve posted about be cautious about taking unsolicited advice before. I also learned about a new term. Even though I’ve experienced this activity myself, I didn’t know the term for it. It’s call “Pump and Dump”. However, most of the social media posts regarding specific stocks are for well known companies that are beyond the need for such tactics. It may be just a recommendation with no ulterior motive attached to it. Could be someone who is proud of their financial analysis skills and just wants to show case them. Or maybe they just post the stock and the analytical information to solicit discussion about it. Seems like a reasonable tactic.

And there are others who post generic advice in hopes of getting people to request more info so they can sell them their book. Again, to each their own. My only advice is to proceed with caution. You are being asked to hand over your hard earned money to someone whose credentials and experience you have no detailed knowledge and no way to vet. When I’m selected a financial professional I make a point of trying to find out whatever I can about them, their credentials, and their experience. I don’t just hand my money to someone who has a catchy line or tells me how good they are or how rich they are. If I can’t verify it…sorry, no sale.

Then there are those that are arrogant enough to post presumptive statements about their prospective customer’s lifestyle. Statements like “If you spend $$$ tonight at the bar or restaurant and not in your investments, you need to review your priorities.” Another one that I’ve seen states “If you’re not earning $XXX then you’re wasting your time.” Hmm. Who determines that arbitrary $$$ amount? People need to recognize everyone has a different strategy and financial goal. Presuming you know “what is good” for your prospective customer is the height of arrogance.

Which is why I don’t give advice or recommendations. Everyone is different. Everyone has different needs and priorities. They weren’t created to fulfill my dreams. I just started down the path of investing a short time ago but I’m not religious about it. The purpose of my blog and my postings on social media is to impart information and resources for the reader to do what they want with it.

Don’t just throw your money away. Make sure you know what you’re getting and from who. Because someone tells you that they’re a financial genius doesn’t make them one. And never, ever let anyone tell you how you should live your life. You can ask for directions for your financial strategy or steer you in the right direction (i.e. Are investing in funds better than investing in stock? and NOT What stocks should I invest in?) but the final decision as to how you get there is yours. You decide how you get there or how fast you want to go. Ignore the person that tells you that you “need to eat more ramen noodles” or anything else about how you live. Remember, they’re just trying to sell you something. Because they know that most people won’t follow the steps are outlined in any publication they are selling because everyone’s needs and agenda are unique to them. Instead, stick with the ones that tell/show you how to do something, what to look for and why, or explain the process.