Posts

How to spot an investment scam

Singapore is one of the most important financial centres in the world. A significant percentage of its working population works in banking and finance. At 97%, its literacy ratesare among the highest in the world. Despite these facts, many Singaporeans regularly fall prey to investment scams of various types.A company that offers impossibly high returns often finds many takers. Investment schemes that are blatantly fraudulent attract hundreds, even thousands of people.How can you spot an investment scam? Here is what you should look out for.Is the entity regulated by the Monetary Authority of Singapore?You are unlikely to be cheated by a company that is supervised by Singapore’s regulator and central bank. MAS imposes a strict set of guidelines for the firms that it regulates. Financial companies that are required to adhere to the rules imposed by MAS must disclose important details about the investment opportunity that they are offering.These firms also need to submit a variety of r…

6 reasons to be cautious about stocks

U.S. equity markets keep reaching all-time highs. Bonds income is low and rising rates will make bonds less attractive in the near term. We are living in historic times: major U.S. stock markets are up over 260 percent since 2009. In the past 50 years, only two rallies were better. But rallies do not just die of old age. Economic data points towards continued expansion, if somewhat tepid, and unemployment is low. Tightening by the U.S. Federal Reserve is likely to be measured and gradual – dovish – as global and U.S. inflation continue on low trajectories.  This has led to complacency among many investors, who generally need exposure to growth stocks in their portfolios to keep up with inflation and meet their investment targets. What can investors near or at retirement do to increase the certainty of meeting their retirement needs? There are six big reasons to be cautious in their approach to investing in equities: Greed & Fear: Many investors tend to overshoot on the upside … an…

Economic downturn

Do you smell a global recession coming?

How to Become a Millionaire by Age 30

Here are the 10 steps that will guarantee you will become a millionaire by 30.

1. Follow the money. In today’s economic environment you cannot save your way to millionaire status. The first step is to focus on increasing your income in increments and repeating that. My income was $3,000 a month and nine years later it was $20,000 a month. Start following the money and it will force you to control revenue and see opportunities.

2. Don’t show off -- show up! I didn’t buy my first luxury watch or car until my businesses and investments were producing multiple secure flows of income. I was still driving a Toyota Camry when I had become a millionaire. Be known for your work ethic, not the trinkets that you buy.

3. Save to invest, don’t save to save. The only reason to save money is to invest it.  Put your saved money into secured, sacred (untouchable) accounts. Never use these accounts for anything, not even an emergency. This will force you to continue to follow step one (increase income)…

Shell to Cut 6500 Jobs as Prolonged Market Downturn Looms

Shell isn’t alone in trying to grapple with cheap oil. This week Chevron said it would cut 1,500 jobs in an effort to cut costs by $1 billion. Likewise, ConocoPhillips said it’s continuing layoffs as it tries to reduce spending by $1 billion over two years. Graves & Co., an energy consulting firm, estimates that the energy sector has lost 50,000 in the past three months—that’s on top of the 100,000 layoffs since oil prices began to tumble last fall.

Investors in gold scheme alarmed by firm's silence

More than 20 investors who put around $7 million into a gold buyback scheme run by local firm Suisse International are now worried that they cannot get their money back.

Not only is its owner uncontactable, they said, but the company's office at Keypoint in Beach Road has also been closed.

The last message the investors received was from the firm's vice-president Belinda Hah in the first week of January. That was when she informed them via SMS that their money was stuck in a transfer to the firm's Hong Kong branch - Suisse HK.

"After we joined, we also brought our friends in because (Suisse) promised to give us better returns and sell us gold at a cheaper rate if we recommended others," said operations manager Louis Tan, 36, who put in $40,000 last June.
It was easy to convince their friends to join because the company promised them about $1,000 a month, which worked out to a 20 per cent return, for every kilogram of gold they bought.
The investors…

More than 100 investors lodge police reports on alleged gold scam

The group says they are representing more than 260 victims. It is believed that there are more than 8,000 victims from all around the world who have taken part in this scheme, with total losses of more than S$80 million. SINGAPORE: More than 100 people who had invested in a gold buyback scheme gathered on Monday (Feb 2) at the Commercial Affairs Division in Police Cantonment Complex to lodge a report against investment company Suisse International. They said they represented about 260 investors in total, adding that 8,000 people around the world are believed to have been scammed, with losses of more than S$80 million.

The company allegedly told investors that it bought and sold gold to turn into novelty coins, which were then sold at a profit overseas.

To participate, investors had to purchase at least 1kg worth of gold bars costing between S$10,000 and S$20,000. In return, they were told they would receive S$5,400 in monthly payouts. Investors would also receive a ref…