no shortage of frauds…this is one of the emails received
Hi Mr. Subramanyam,
I am regular reader of ur blogs under Subramoney.com and they are really impressive and knowledge enhancer.
However I am always of the opinion that in our country small investors are being always taken for a ride by these so called ‘SHARKS”.
We always end up saying that one should have ‘Good Risk Apetite” etc etc.
We can hear so maney scams happening and happened in Past but as far as Small Investors are concerned their money was not given to them neither by those Cheaters nor an efforts made by Government or so called controlling bodies like SEBI etc.
e.g Pen co op bank , City Limouzine , Sherekar , Cheatfunds AND SO ON WE READ ALMOST DAILY in newspaper about CONWOMAN , CONCOUPLE etc.
Why I am sharing all this because recently one of my friend has been advised by his Financial Planner to invest money in some scheme run by currency trading company (as on today foreign currency trading is not legal in india).
I would like to request you to visit www.wwwsssvvv.com and read their investment plans. (not wanting to give any publicity, I have masked the website).
I want your honest opinion on this as I feel that this company is not genuine and they will run away with the money of poor people.
One may be getting good returns by trading in Foreign currency but how can one gurantee and such a high returns (360 % p.a)
I once again would like to request you and kindly revert back with your feedback which I will be forwarding to that Financial Planner.
I wonder how can be a financial Planner suggest such schemes and left the poor investors in pain .
in a few days I will post my reply and the logical end to a scheme like this..
pravin
what is a “small investor” ? someone with a samll brain?
just because ones savings are meagre compared to the crorepatis PMS-lovers shouldnt mean that one should not exercise prudence if not savvy.
i find it difficult to sympathise with those losing money out of greed than those out of ignorance
anon
360%!
Atul
There are 2 things I would like to highlight :
1. Investor is investor. Small, medium or any size does not matter. If any one belonging to either of the categories looses money then its own fault and no one to blame.
2. Financial Planner does not carry investor’s risk. FP job is to understand client requirements,analyze and suggest a plan. In this case the writer should ask FP how much FP has invested in the FC scheme. I doubt FP has done that. That clearly highlights the risk.
Cheers
Atul
write2srk
360 is a good number…anybody with fundamental geometry knowledge will know that 360 is same as 0 (i.e in degrees). So, one can expect what would be the value of capital!!!!
iarab
Dear Subra Sir, Can you throw some light on the controversy on the deposit mobilization by Sahara Group companies, who collect money from public in the midst of ongoing war war with SEBI & RBI? What is exactly going on there!
StatSpotting!
As long as there are gullible people, fraudsters will have a field day. its simple supply and demand
suhas zore
Two days ago I got call from by relation manager(My Investment guiding ANGEL) about opening free account for currency trading. Not much details were given . Only usual marketing statements like you are one top 20 clients,this offer is for few days,Take back money in two days after account opening,No charges now.
Initially I bowed to pressure & accepted.Later decided otherwise.
Something inside told me if don’t understand don’t do it.
Something fishy is going around.