Amazed that in a country where every data and content aggregator wants your data and articles free….there is speakasia.com!

They want to pay me for MY OPINION and the opinion of other people that I am able to collect.

More amazing that people believe that this is a marketable product and 19 lakh people are willing to pay the upfront fee. If this is not a Madoff scheme (some smaller people call it Ponzi). Do you realize that Madoff far, far outdid Ponzi?

Do you not think we should call such schemes Madoff scheme? Should Ponzi not be allowed to retire please? Bechara kab tak pitega? L O L

Frankly I do not think it is about schemes. It is about people. There will always be dishonest people, and there will always be greedy people. Put the two together, and you have a fantastic recipe for disaster…so speak asia is just one such instance.

Children of people who lost money in the Harshad Mehta scam, UTI fiasco, Ketan Parekh scam, ….and millions of ponzi, fixed deposit schemes should analyze what happened. When they do an analysis they will realise that it is not the market or the scamsters who created the loss, but it is they themselves.

Remember the Asterix dialogue….’We just found out who the enemy is….IT IS US’ ….the most amazing statement as far as investing is concerned. The damage that we can create for our portfolios by churning, being obstinate, sentimental, foolish, biased, …is far, far greater than the damage created by market volatility!

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  1. The most idiotic statement I hear from people about speakasia is that speakasia pays people money for filling up the surveys . Now companies want honest opinion for the surveys , I wonder who among all the 19 lacs penalists fill the survey honestly , when they know that they would get Rs 500 per survey for just “filling” . So I can see each of them, just putting random answers and tick marks and all their focus would be on completing the survey as soon as possibe .

    Manish

  2. For the people who are after Speakasia, the same enthusiasm need to be shown for the following.

    SBI: It is beyond words that an established PSU bank and country’s largest, 100 years history, stockmarket listed and Audited company could declare results with 99% profits down when the new chairman comes on Board. The stock is beaten and scores of investors suffer.

    IPO results: If we take account of last 5 year IPOs, it is well known that 90% of them are trading much below the IPO price. I do not know who does the valuation. While every norm and regulations are in place for listing and in all transparent process, investors lose money.

    Insurance : Less said is better. Even while all protocols in place, white collor robbery continues.

    Real Estate : We all know the black market component.Ofcourse we can never expect a regulator in this field. Let’s watch the proposal of CRISIL rating for RE projects.

  3. Hi…What I think is that these people are actually rather intelligent and most of them know about the risks..like my friend who lost couple of lakhs in a similar scheme but knew all along that the company was a fraud..however he also knew that usually the early birds make a profit…so now he rationalizes that next time he has to invest even earlier!!! too much greed!!!

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