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Investment Advisers

  1. pallister

    4,601 Posts.

    I have been following various websites and the email so called newsletters from so called "Investment advisers" for some years. I have always been of the opinion that if their stock tips were so good why on earth just not invest their own money and shut up about it? Why is it that they only spruik the stocks that go up and "selectively" make up lists and charts that suit the upward movement in the stocks but in hindsight put a sell at the top of the stock price increase.
    Some of these spruikers are no better than a Monkey throwing darts at stock codes on the dart board, I have seen some epic "get it wrong" from some of these guys and those stocks quickly are dropped and never mentioned again, I will never forget the page singing the praises of CFU at the top of the chart only to watch it fall like a stone from a high place. Others pushing the old tech companies that are all delisted and turned to dust. As the mining boom is coming off the boil watch and see how many all of a sudden become technology companies, ready to come up with the next best thing and go capital raising. Capital raising = Directors fee draw down and payments to associates in most cases.
    I just wonder if we are going to see a repeat of the 2000 tech pump and dump again. Enough time has gone by for the next breed of traders to be fleeced as they do not know anything about the 2000 tech wreck. I will be watching the spruikers at it again, reinventing old companies and rehashing old technology in order to fleece the unwary investor.

    The ASX will not protect you, they are a business and need to make money, ASIC are no good as these entities are set up by experts in their field and run legal rings around the authorities, there is a legal loophole for just about anything.
    If they do get caught they can always do a Christopher Skase and go live in Majorca living the good life on your money.

    I suppose this looks like it was written by a bitter and cynical person but its not, I have made a fortune in the market by playing it smart and trying never ever to be a sheep led into the fleecing shed. I have seen a lot, I know a lot, I know how things are set up and what goes on behind the scenes. In the stock market...do not trust anyone, would you lend $10,000 to a stranger? The stock market is that stranger, and it has your financial interests at the bottom of its priorities.

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