I read in the news that Goldman Sachs has been sued for not disclosing to investors that some CDOs’ underlying securities were picked by the short seller John Paulson’s firm. Paulson’s firm was bearish in CDOs and had made a huge profit betting against it. From investors’ point of view, it is like investing in a broken portfolio constructed by someone who did not think it is going to work. It is now year 2010 and the market has recovered remarkably. So most people reading this probably do not really bother much on this lawsuit. But what many people do not realized is that this is happening everyday in Singapore done in the broad daylight. No, I am not referring specifically to CDOs but to financial products sold to the man-in-the-street. Do you know that many financial advisers do not even believe in the product they are selling? Ask your financial advisers whether do they buy into those products recommended to you. You will be in for a rude shock as to what they are NOT buying and what they are buying.