If you were to new to investing, heading to an investment expo might be a logical thing to do. Logical maybe, but very dangerous.
I’m at the Property and Investment Expo in Sydney’s Exhibition Centre. The Intelligent Investor stand is wedged in between Aussie Rob’s Lifestyle Trader and about 10 CFD trading spruikers. Suffice to say, we don’t have much competition in the sensible long-term investing advice market.
One of the other presenters just put a slide up that showed a sharp rise and then equally sharp fall in some stock’s share price and remarked ‘if you’d seen that spike, you could have jumped on it’. Greg just picked up a flyer for a horse betting system called Fortune 100. It’s a ‘privately owned company registered in NSW, and located at Varsity Lakes, Queensland, beside the IT Centre of the internationally renowned Bond University’ (my emphasis).
It would be hilariously funny but that there are so many people here who know no better and are about to be fleeced of their money. They’d be safer with the aquatic sharks in the nearby aquarium rather than the financial ones floating around here.