It’s awful to see or hear people saying that others “went in with eye open, can blame who?” “investors themselves are greedy” …
Who doesn’t want to invest and have better returns on their savings? But we have to start somewhere. I wanted to buy shares 20 years ago but my ex husband always told me it’s a losing business so I never did. Up till now, I never learnt how to buy any. If I hadn’t listened to him, I might have accumulated a small fortune by now.
A friend of mine trusted her long-time Insurance Agent and bought a plan with supposedly good returns. She encouraged me to buy too. I came home and shared with my then-husband who was sure it was a Ponzi scheme. I went back to her and told her about it. It made her panicked and she went to pester her agent to return her the money. The agent was unable to return until the plan matured and she really got what she was promised. I felt bad that I raised a false alarm and gave her unnecessary stress for those months that she was waiting for her money to return.
How would a layman like me know how to do due diligence to check up this and that for something I want to invest in? Most of us can only put our money at where someone has tried. Then we are laughed at for being greedy when things don’t go well. When we don’t invest, people laugh at us for not investing and let money rot in the bank.
Commiserations for your losses if there’s any.
But TBF, my POV is one cannot simply just use the excuse of “how would a layman like me know how to do due diligence to check up this and that for something I want to invest in?”
everyone has to take responsibility for their own money, it’s for them to lose, and not for others to lose.
if you are unable to do such due diligence, then don’t invest in it. There are so many other investments out there to get better returns that with reasonable DD, you can know what is it about.
the returns might be lower, because as the saying goes, Low risk Low returns, high risk high returns. If whatever investment breaks this mantra without a reasonable explanation, u sure well know you should get suspicious. If you still decide to go invest in it and lose money, then you should be responsible for it.
i think there’s a need to stop pushing the blame and say “oh I’m a layman” and simply use that excuse to explain away why the loses.
instead, start taking on the responsibility of being responsible for your own personal good.
does it take time and effort? For sure. But that’s the cost of responsibility right.
