Know the rules
Should there be no sympathy for investors who had sunk in their monies and lost their life savings in these gold buy-back schemes?
High risk, high return. That is the golden rule in the world of investment. So is it fair for them to sue the company when they lost money? Did they make any noise when they made some money? So the point I am trying to make is that investors have to be responsible for their own actions and be discerning of potential scams before they commit their monies. It is not right for them to claim ignorant and take legal actions to claim back their losses without having a clue to what financial products they have purchased.
Singaporeans are educated but can be stupid sometimes
Many of these so-called “investors” are not actually investing, they are just greedy and foolish people who are easily conned into get-rich quick schemes. They are not investment practitioners and don’t do their homework before they invest. They let greed rule their head and thought they had discovered the secret to making big money when it was actually a scam awaiting for them to walk in. They think they can outsmart the rest of the world. How can that be?
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