Ok this is not a post about how to get ripped off or how not to get ripped off…just a thought.

Crossed my mind that i could put together a book on how people get ripped off generally in life. Yes most of the times we behave in such a manner that the casual observer also feels THAT we deserve to be ripped off, but we OBVIOUSLY do not.

Thinking of putting together a series of articles on how you get ripped off by:

Big food companies (roti), big pharma companies, big auto companies, builders (makaan). bankers, life insurance companies, general insurance companies, agents, mutual funds, brokers, depositories, …..blah blah blah…..

what all should I include?

should it have only theories or should it also have stories?

do you think people are interested in such ‘dukh bhari dastaan stories’?

 

 

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  1. Hello Sir

    Just read ur FB status regarding that insurance claim of an insureD PERSON !! ๐Ÿ˜‰

    aND THE FOLLOWING COMMENTS TOO !! ๐Ÿ™‚

  2. Yes, it would be interesting to hear of other people’s rip-off stories.

    I was *almost* ripped off by an HSBC “wealth management” and “financial planning” guy !
    He screwed my happiness with a useless ULIP ‘investment’ in 2007 (luckily not a very large amount).

    And when he casually said to his colleague (during a joint meeting) that he will make me ‘churn my entire portfolio of equity shares’, my antenna went up.

    After that, I have stayed miles away from him, and his kind !

  3. Hi Subra,
    I think people will be interested to know about how they are getting ripped off (without their knowledge OR too late to know) by all business and others around them.

    I think Stories and real life incidents strongly convey the message by keeping it interesting to know the facts.

    Also how the companies brainwashing the common people for their business, will be helpful.

    Please also include some points like:

    1) General checkpoints to escape from rip off
    2) Also if it works for others why it won’t work for me
    3) If a rich or intelligent person doing it … why it won’t work OR what is wrong in doing it
    4) Case studies on how to read the inner meanings of a marketing product(like a complex insurance product having both ins+investment)

    Also to safeguard ourselves:

    1) How to create virtual fences so that others won’t easily target us.
    2) How to develop art of saying “NO” without feeling embarrassment, like avoiding guarantee signature to a well known friend OR close relatives

    Looking forward to read your book on this soon ๐Ÿ™‚

    Thanks,
    Shankarraju S

  4. is not when we are doing for our business, it is survival business strategy , and if other is doing , it is ripping off?!

  5. That would be very helpful!!

    “what all should I include?”
    Anything related to common man and financial transaction.

    “should it have only theories or should it also have stories?”
    Nothing is better than a story. Theories are boring.

    “do you think people are interested in such โ€˜dukh bhari dastaan storiesโ€™?”
    Well, we all have our own so hearing about others will make us educated and at the same time will give us some consolation ๐Ÿ˜‰

  6. I think it is a good idea.
    Just make sure to mention
    1. Which due diligence checks were done by investor before financial transaction?
    2. Why it made sense to investor to make transaction?
    3. What went wrong? Why it went wrong?
    4. What kind of diligence checks were missed and how to do them.

    I don’t want to read stories like “I signed for that product because my friend told me that it is good for me”

    Everybody should know that leveraging is double edged sword. But it is okay if we have one story related to that as well.

    Eagerly looking forward to the book.

  7. I think ways to stay way from such incidents should also be narrated. Many a times due to obligation (Loan by Bank – give insurance) comes into picture. Even knowingly people have to get ripped-off. Such incidents will be of much use

  8. Hi Subra,

    Why not make a post of getting ripped off after lending to friends/relatives/colleagues in good faith. This happens, and then sometimes it goes bad, you do not get back the money on time, often the borrowers would return in installments.

    Would be interesting.

  9. Your articles should have theories as well as stories about the way an ordinary person is being ripped off nowadays by unscrupulous elements whosoever they are.

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