Either I am a cruel guy, a misogynist, a cynic or something must be wrong with me.
When I read the following news item, I refused to be moved. If a person goes and invests all his money (or a substantial portion) in ONE asset class in a company controlled by Jignesh Shah, I cannot feel sorry for him/her.
Why do people not realise that a company which pays 13% interest per annum and says it is RISK FREE is committing fraud. Risk free (largely default risk free is what we mean) is State Bank of India Fixed deposit.
If the SBI fd is at 8% p.a. and somebody is paying you 13% p.a. (and allegedly 5% brokerage to our illustrious listed brokerage houses who were busy ‘selling’ it to their non regular customers, something is obviously WRONG, WRONG, WRONG with your understanding or risk.
If you trust these Brokers – the big listed ones, again, something is completely wrong with you. See their overheads and other expenses, they NEED TO mis-sell and that they have done well. So, God bless!
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