Who Can You Trust When Investing?
Fear
and uncertainty caused by the coronavirus pandemic have spread through the
world. On top of those problems, the issue of police brutality of black men has
been brought to the attention of the world once again. The tragic killing of
George Floyd by a Minneapolis police officer and police killings of other black
people have flooded the news. The demonstrations, peaceful protests, and
sometimes riots and violence have captured the interest of the United States
and other parts of the world.
The
world is in turmoil, and investing may not be on people's minds. But with the
pandemic, many people have suffered financially so money is an issue. They may
be looking for a way to earn some much needed money.
There
are still a lot of gurus out there who want you to trust them by signing up for
their stock investing newsletters. They promise big returns and make big
claims. Their testimonials sound almost too good to be true. Perhaps they are.
The
so-called investment gurus are touting their programs even as the unprecedented
times caused by the coronavirus have affected everyone. They are saying that
there are exciting investment opportunities in oil, banking, crypto, medical
companies, and more even during these troubling times. They have common names
like Jon, Tom, Ken, Alex, Mark, and Jeff plus some more uncommon names such as
Jordan, Derek, and Kyle. Who can you trust? It is hard to know.
Sometimes
they promise 100% returns on your investment or they may be bold enough to
promise $2,000% in a year. They say that you will most likely get your return
on investment with your first trade. If they promise big returns, it is best to
make sure they have a money back guarantee if they do not produce as claimed.
If
those promises would come true, it would be a great opportunity and blessing.
However, too often they are false promises which do not come to fruition. If
you can find a program which pays as claimed, you can consider yourself one of
the lucky ones.
It's
pretty pathetic when not losing is considered winning, but that is the case in
so many investments. We may be happy to just not lose our shirts although the
gurus told us we would win 100% or more with their recommendations. When going
with the recommendations made by the gurus, it is important to cut your losses
before you do lose your shirt so to speak. Winning is the goal, of course.
Fake
claims and dead ends can bring a lot of stress. Minor setbacks can be overcome
without major losses. It is tempting to listen to investment gurus to follow in
their footsteps to get winning trades. However, you can't trust many or most of
them. It is best to research and learn so that you can trust in yourself to
make the best decisions.