How To Avoid Getting “Scammed”?

http://www.conradalvinlim.com/wp-content/uploads/2017/07/Screen-Shot-2017-07-26-at-4.57.56-PM-439x1024.pngTo be fair, not all scams started with the intention to scam. Its just that the business model was not properly thought through and it ended up looking like a scam.
 
Can you blame the victims? I don’t think they all fell for greed or were conned through ignorance and gullibility. If the scheme was indeed above board, then at the time of sale, it was a good idea. But for the poor planning and management of the scheme, it ended badly. No one could have seen it coming because the owners of the scheme probably didn’t expect it to end badly either.
 
Now, I don’t know the full picture of this “scam” so I won’t judge.
 
All I will say is that if you’re planning to invest in anything, you have the duty of researching it thoroughly and asking for professional advice if you don’t know what you’re getting into.
Did you read the prospectus thoroughly?
 
The worst you can do is to buy something you know little or anything about by falling for the tactics and guile of well trained sales people who know how to hook you and sell ice to Eskimos.
 
Take your time to decide. Rushing in is the worst thing any investor can do. That’s pure greed. Sleep on it and mull over it for a couple of days. Ask around. Check out the web.
But it was certified and sanctioned …
 
There will always be such schemes now and in the future. They all look credible and will be sanctioned by such and such governments or institutions. But remember the governments and institutions can also be victims.
 
The best is to study the business model and anticipate the worst case scenario. If the investment can wipe out in a worst case scenario, that is not a good investment. If it says “capital guaranteed”, then thoroughly read the fine print because no smart business person will ever guarantee anything – that’s the first sign of a scam; blind guarantees.
 
There should always be an exit ticket. If your commitment doesn’t not allow a clean exit at your own discretion and time, it is a scam. Time based investment always have exit tickets that will penalise you for breaking the time agreement. That’s actually a good thing. So if there is no exit ticket and no penalty, it is definitely a scam to lock in your money or cash flow to assure the Ponzi scheme can continue its vicious cycle.
 
In short, if you don’t know what you’re doing, don’t do anything. If you’re going to commit, learn everything.
 
Your friendly financial advisor,
 
Conrad.
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