I get angry when I hear shysters promote their shortcut systems to wealth, which usually involves equal measures of flatulence and fraudulence.   Despite valiant efforts by consumer watchdogs, suckers continue to pour their savings down these rat holes, often in the name of evading taxes.  Don't be one!  It seems that they would rather hand their money to a swindler than the government.  Those who lose so much money are sometimes our social elite-- doctors, lawyers, entertainers, and businessmen.  Perhaps because they're so smart in their careers, they despise first principles in investment.  They are so much in love with their plans and deals, they lose sight of the fundamentals:  Look before you leap.  Trust must be earned.  There's no free lunch.   You can call these aphorisms "bromides" or "clichés."  But what are clichés but distilled common sense-- which apparently isn't so common.  Here is some more common sense to help you avoid getting stung by bad investments: 

 1.   Don't let yourself get rushed into anything. Never sign anything hastily.  Do your homework.  Few deals cannot wait until tomorrow.    

 2.   Always know with whom you're doing business. 

 3.   Beware of steals.  You cannot get something for nothing.  There is no free lunch. 

 4.   Don't listen to high-pressure sales talk.  We're most credulous when we are the most happy. 

 5.   Beware of promises of spectacular profits. 

 6.   Be sure you understand the risks. 

 7.   Don't buy on tips or rumors. 

 8.   Get all the facts.

 9.   Tell the salesman to put the information in writing and mail it to you.   

 10. If you don't understand what is going on, consult a person who does. 

       These rules of conduct have stood the test of time. Every year, millions of dollars are swindled from people who fail to keep these principles in mind. All these rules can be reduced to one rule: buyer beware.






 

Copyright © 2006 My Mall & News 

About |
Site Map |
Archives |
Home