“Case: Be prepared to bear high risks”
Article from 28th Oct 2012 edition of The Sunday Times (Published by Singapore Press Holdings Ltd)
Besides bringing you articles on finances and monetary issues, we also want to draw your focus to articles in mainstream media or on the web that carries interesting and important financial ideas. And this week we want to highlight a very common mindset being adopted by more and more Singaporeans feeling the squeeze of rising cost of living here: get-rich-quick schemes.
This article talks about the prevalence of forex and equity trading businesses boasting huge returns and promising money-back guarantees. It also goes on to state that a majority of these companies are not regulated by the Monetary Authority of Singapore (MAS) and highlights industry experts constant reminder that “if something is too good to be true, it probably is”.
Many of these companies offer costly seminars and even take out advertorials on local newspapers. So anyone thinking of going into this investment needs to ask himself or herself if this really meet their financial needs before buying into it. DollarsAndSense.sg suggest you read this article and share with us what you think about these kinds of companies and the industry.
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