| Question on triple digit returns over 3 years |
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| Written by Wilfred Ling | ||||||
| Wednesday, 22 July 2009 | ||||||
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"Dear Wilfred, Just went to XXX (shopping center) and saw this "YYY" roadshow putting a big sign claiming (triple digits) returns in 3 years. Even Madoff never made such claims. To Singaporeans credit, nobody stepped into their booth in the ten minutes I spent observing. Regards - J" Hi J, Singaporeans have indeed wise up but this is only temporary. When economy gets better, people will be greedy again and they would have forgotten all their lessons. During the dot.com bubble days, many people were missold technology unit trusts even though their risk appetite were low. Some were verbally promised guaranteed returns. When the market crash, they lost almost their entire savings (much of which were CPF money). But people forgot these lessons and became greedy subsequently. Wilfred
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