Too good to be true
Tag: Money
A friend of mine recently introduced me to some online investment funds that promise an average of 20% return every month. Sounds good. Her husband has an account and is earning some profits.
Seriously, 20% return every month is really very tempting. So tempting that it sound too good to be true. I did a search on the so called online investment funds thing and found quite a lot of people recommending others to join in. Appearantly, these people also make some profits. I think they also earn points by getting more people join in. That explains why everyone is so eager to introduce this investment to others. Sound like a MLM scheme. But appearantly, there seems more to it.
Read a few online forum discussion on that online investment funds. All of them make reference to ponzi scheme. Ponzi scheme has been around for more than 100 years already. And the fundamental concept of this scheme is offering high returns to initial invester so that they will pull in more invester. While the earlier invester will really get high returns, those who enter the scheme late will get their money conned.
Ok, so I know this online investment fund will collapse sooner or later. But question is, when? If it collapse later, maybe I could still join and get some profits.
But on second thoughts, maybe not. This stuff has been there for nearly a year now. Way too risky. I think I'll stick to those investment funds offered here.
A friend of mine recently introduced me to some online investment funds that promise an average of 20% return every month. Sounds good. Her husband has an account and is earning some profits.
Seriously, 20% return every month is really very tempting. So tempting that it sound too good to be true. I did a search on the so called online investment funds thing and found quite a lot of people recommending others to join in. Appearantly, these people also make some profits. I think they also earn points by getting more people join in. That explains why everyone is so eager to introduce this investment to others. Sound like a MLM scheme. But appearantly, there seems more to it.
Read a few online forum discussion on that online investment funds. All of them make reference to ponzi scheme. Ponzi scheme has been around for more than 100 years already. And the fundamental concept of this scheme is offering high returns to initial invester so that they will pull in more invester. While the earlier invester will really get high returns, those who enter the scheme late will get their money conned.
Ok, so I know this online investment fund will collapse sooner or later. But question is, when? If it collapse later, maybe I could still join and get some profits.
But on second thoughts, maybe not. This stuff has been there for nearly a year now. Way too risky. I think I'll stick to those investment funds offered here.
