Recently I received an email from some scam artist enlightening me on an investment that is a sure thing. “An aquisistion is about to be completed by a very large company” This email gave me insight that no-one else would ever know. “They’re buying out a small medical firm at more than 20 times what they are currently trading at”. The email has the elements of curiousity for a reader like myself. I know it is a scam, yet I can’t keep my brain from thinking “What if it IS real?”.
“This means that every ten thousand bucks you put in will turn into two hundred grand the moment the announcement becomes public”
This got me thinking; how many people fall for the next big thing without research and without getting real advice? If I had to guess, it would be more people than you think. Several people come to my office looking to invest something that their co-worker or relative talked about. Although your friends and family are looking out for you for the most part and this email is meant to be malicious, doesn’t mean that they are all that different. Let me explain, both are meant to encourage an action on your part. Both are looked at as “sure things” as they are giving you information of past performance or future performance. Both normally have no research completed with it. And both are not recommended based on your current and future needs. It is interesting when we hear of these things that are too good to be true we still can’t help be interested.
To protect yourself and your hard earned dollars, make sure you seek out advice from professional. Make sure that professional is licensed in the province that you are in and also make sure they are asking YOU questions, and listening to your answers. The best advisors listen more than they talk. And when they talk they are not selling, but educating. Always feel comfortable with your decision before signing any papers or moving money.