Ganglion
Contributor
Several years ago, I got SCAMMED out of £1,000.
I hate that I lost the money, but I learned a valuable lesson.
Here's what happened.
My brother told me about this guy his friend knows who watches stock prices on multiple computer screens, he does nothing but monitor stock prices all day every day, so he's an expert who knows what he's doing.
He buys when stock prices are low, puts a lot of money in, and sells when they go up just a little bit.
I knew nothing about stocks then (I still don't, and don't care to learn before I've made my millions through business), but hey, this guy is an expert, and my brother's friend who knows the guy is a financial advisor who has invested tens of thousands of pounds on this stock trading wizard. If a financial advisor who advises rich people on what to do with their money can trust this guy with his money, then surely I could trust him too!
The returns were amazing! I forget what they were, but I remember it being more money in a month than my bank's ISA savings account's then-great interest rate would give me in a year.
I had quite a bit of money I could have invested, maybe around the £10,000 mark, but I decided to be cautious and invest £1,000.
My brother invested £3,000, an uncle of ours invested multiple thousands.
I remember feeling like I was losing out. My brother and my uncle were making so much more money than I was, and I could 10x my returns if I put in everything I had, but I decided to first wait and see what happens with my initial investment.
I kept track of how much I was making month after month and it felt good, this was surely a path to riches that I was lucky to discover.
My uncle needed his money for something, so he took his money out of the program. I felt sorry for him.
Then the news came.
My brother told me the guy had apparently had his assets seized by the police (or something along those lines) because they suspected his business had links with terrorists.
The money was gone.
I lost £1k, my brother lost £3k, my uncle got lucky by pulling out his money at the right time, my brother's friend lost £60k!!!
I don't know if the story about the police seizing the guy's money was true or not, maybe he was being honest, maybe it was a scam. But scam or not, that bastard lost my money. I would punch him in the face, but I didn't know anything about him, not even his name.
Lessons learned:
- Don't invest your money in something you know nothing about.
- Don't throw your money at an "expert" who knows what he's doing, and leave him to it to grow your money.
- Don't trust your money with someone someone else knows, be sure YOU directly know the person who's dealing with your money.
- There's no such thing as easy money.
I hate that I lost the money, but I learned a valuable lesson.
Here's what happened.
My brother told me about this guy his friend knows who watches stock prices on multiple computer screens, he does nothing but monitor stock prices all day every day, so he's an expert who knows what he's doing.
He buys when stock prices are low, puts a lot of money in, and sells when they go up just a little bit.
I knew nothing about stocks then (I still don't, and don't care to learn before I've made my millions through business), but hey, this guy is an expert, and my brother's friend who knows the guy is a financial advisor who has invested tens of thousands of pounds on this stock trading wizard. If a financial advisor who advises rich people on what to do with their money can trust this guy with his money, then surely I could trust him too!
The returns were amazing! I forget what they were, but I remember it being more money in a month than my bank's ISA savings account's then-great interest rate would give me in a year.
I had quite a bit of money I could have invested, maybe around the £10,000 mark, but I decided to be cautious and invest £1,000.
My brother invested £3,000, an uncle of ours invested multiple thousands.
I remember feeling like I was losing out. My brother and my uncle were making so much more money than I was, and I could 10x my returns if I put in everything I had, but I decided to first wait and see what happens with my initial investment.
I kept track of how much I was making month after month and it felt good, this was surely a path to riches that I was lucky to discover.
My uncle needed his money for something, so he took his money out of the program. I felt sorry for him.
Then the news came.
My brother told me the guy had apparently had his assets seized by the police (or something along those lines) because they suspected his business had links with terrorists.
The money was gone.
I lost £1k, my brother lost £3k, my uncle got lucky by pulling out his money at the right time, my brother's friend lost £60k!!!
I don't know if the story about the police seizing the guy's money was true or not, maybe he was being honest, maybe it was a scam. But scam or not, that bastard lost my money. I would punch him in the face, but I didn't know anything about him, not even his name.
Lessons learned:
- Don't invest your money in something you know nothing about.
- Don't throw your money at an "expert" who knows what he's doing, and leave him to it to grow your money.
- Don't trust your money with someone someone else knows, be sure YOU directly know the person who's dealing with your money.
- There's no such thing as easy money.
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