QUOTE(MUM @ Dec 8 2022, 02:03 PM)
when a stock or unit trust goes up,...most would never questions the fund managers or the owners....
take this FTX and its FTT coins for the current example.
even those experts from big corporations are also incapable of discerning what is credible proof to examine the financial engine's genuinety
it is when things goes wrong, the investors will starts to questions the genuinety or sustainability of the products or entity.
I beg to differ on the genuinity of financial engine. I would like to ask, do you think RHB Investment/EPF would invest in TriumphFX based on the given data? If not, why not? If they have a reason why they cannot or should not, that is already their capability ( via SOP, via guidelines ) of not to invest because it isn't credible.
Sometimes investors knows from the system that it isn't sustainable. But refuse to see it because if they were to choose to see and acknowledge it, they wouldn't go in. If they don't go in, they will miss out any opportunity that " might " be real. So it's like a FOMO position. It isn't too hard to discern that Triumphfx is a scam.
To be honest, the first time I ever hear and see it was from my wife, telling me her auntie is doing this an enjoying life and is asking her also to start investing a little bit. When presented with the benefit and return, some funny looking PDF statement of account from someone's earning, I conclude it's 80% scam. Because it matches almost everything of what a Ponzi Scam does. The other 20% isn't because they do it right, but because I am giving them a benefit of doubt that at first instance it might be wrongly presented. But after a while, the data is correctly presented, so for me its a scam.
Am I tempted? Sure. I have to be honest, not at first, but half way through this year, watching my wife's aunt going to Dubai, Bhutan, luxurious cruise holiday all add up to be a continuous 30 days holiday, makes me ask myself...what if I also put some money ( despite it being a scam ) and earn it first then run?
Why I didn't its because, I dont know which level of this ponzi is at now. Because it will come to an end. What if I entered at 90% of its life and I am left with 10% time? So for that reason, I tell myself no.
Again that's my way. I still have a chance of being wrong la...but if this Triumphfx ended in the way we all predict it would end, then I am not wrong. And I have not been wrong in several other scams over the years portraying the same engine of presentation. If I got this one right too, then I know every other in the future should be the same. In law there is a principle they call " treat like cases, alike " . If the pattern match, treat it the same. If its a scam previously, its a scam on this one too.