Author Topic: Is it worth it to pay for advice? (Read 3977 times)

Calvin Wong · « **on:** January 23, 2006, 08:06:47 PM »

Nowdays, we everyday see advertisements in the newspapers telling you about some investment seminars and new ways to invest in stocks, options or property. They invite you to attend one of their seminars where they will 'teach' you how to make money. Some are free and some you need to pay a bit of money. But once you go there, they will:

1. Teach you very basic things about how to invest
2. Tell you how successful they have been
3. Try to sell you their book/software/formula (cheap one, under RM100)
4. Try to get you to join their 'club' (usually very expensive, RM1000-RM2000 a year)

Has anyone joined one of those 'club' things before and are they any good?

jbtan · « **Reply #1 on:** January 23, 2006, 08:33:04 PM »

I attended one of those property talks before. The speaker was lecturing about some very basic property concepts and shamelessly promoting his series of books. He encouraged the audience to ask him questions and every answer he said could be found in his books.

I wouldn't evey pay for one of those books so in my opinion, it is not worth paying for his advice.

julez.lim · « **Reply #2 on:** January 24, 2006, 07:09:16 AM »

I attended a few. Some are free while others need to pay.
For the free ones, only a handful is good. Normally, the schedule is they will talk about themselves and motivation talk first. Then, to the investment. After they had partially taught you the concepts of investment, they start their selling.
Here's the part I like most. We love discounts, right? So, their strategy is start high, say RM5000. "If you pay today, I will slash the price to RM2400, a 50% discount. And wait, I will give you *this and that*". Some are so good, it is so hard to resist. Serious.
At the end of the day, the seminar works only if, in my point of view,
1. You are in that type of situation - They may try to sell the concept of earning $$ easily without hard work. Assuming that time, you are working OT non-stop and very tired of current work, you may be triggered to accept the seminar's information
2. You practise it after the seminar - Normally, people will just keep the notes and forget about it

24601 · « **Reply #3 on:** January 24, 2006, 07:45:47 PM »

Hi,

I have followed this forum for some time but this is my first post. Something posted by Calvin make me need to speak... I have personally heard people joining 'stock investment clubs' before and even I have been asked but is this legal in Malaysia? Is it like a syndicate where eveybody combine their money and then sell/buy the same share all at the same time?

Please can anybody advise me.

Thank you.

julez.lim · « **Reply #4 on:** February 07, 2006, 09:45:51 AM »

Quote from: 24601 on January 24, 2006, 07:45:47 PM

Hi,

I have followed this forum for some time but this is my first post. Something posted by Calvin make me need to speak... I have personally heard people joining 'stock investment clubs' before and even I have been asked but is this legal in Malaysia? Is it like a syndicate where eveybody combine their money and then sell/buy the same share all at the same time?

Please can anybody advise me.

Thank you.

Wow... Never heard of things like this before... Why people want to do this? From my opinion, when things go wrong (as in investment goes to the red), bad things may happen...
Booffett... any idea on this?

booffett · « **Reply #5 on:** February 07, 2006, 01:47:39 PM »

Quote from: julez.lim on February 07, 2006, 09:45:51 AM

Quote from: 24601 on January 24, 2006, 07:45:47 PM
Hi,

I have followed this forum for some time but this is my first post. Something posted by Calvin make me need to speak... I have personally heard people joining 'stock investment clubs' before and even I have been asked but is this legal in Malaysia? Is it like a syndicate where eveybody combine their money and then sell/buy the same share all at the same time?

Please can anybody advise me.

Thank you.

Wow... Never heard of things like this before... Why people want to do this? From my opinion, when things go wrong (as in investment goes to the red), bad things may happen...
Booffett... any idea on this?

of course this is true...

this is just one of the many trap in the stock market.

Gerogetown OSK and Hwang got quite some kaki about this, if interest, u may try to get know some instituitonal delaing team ppl there.

however, if that technique really profitable?

yes, it is if u know how to do it, and do it in trend with the market force.

and u have a network of many * that consist of many unsophiticated investor to dump ur highly priced stock after successfully goreng the stock.

of course this is illegal, but SEC will have very hard time to get rid of this.

ok, then any example...
ok, this is what i heard, the newsletter PI capital on technical analysis, the founder, which i think he is among the best tech analyst and speculator in Malaysia, if not the best, is being banned from KLSE. i heard this is because he manipulated KLSE with some of the technique, such as goreng stock as we discuss above.

if u want to try to form a team of ppl like this, then may be we should stopp dreaming.
people only able to do this when they have billions in pocket as a group.

booffett · « **Reply #6 on:** February 07, 2006, 01:52:19 PM »

Quote from: 24601 on January 24, 2006, 07:45:47 PM

Hi,

I have followed this forum for some time but this is my first post. Something posted by Calvin make me need to speak... I have personally heard people joining 'stock investment clubs' before and even I have been asked but is this legal in Malaysia? Is it like a syndicate where eveybody combine their money and then sell/buy the same share all at the same time?

Please can anybody advise me.

Thank you.

perhaps another good example is when a lot of people listen to a advicers, the stock may suddenly shoot up a little without economic reason.

example, u try to observe i-capital recomendation, and Dr Steven Lee recomendation.

then try to take note on the price and volume action...

hehehehe......

24601 · « **Reply #7 on:** February 09, 2006, 07:47:23 PM »

so jion syndicate is illegal but join 'stock investment club' is legal?

it will be very hard for SEC to catch...

i heard before people get send to their house a envolope and inside got a silver bullet because they sell when syndicate ask them to hold... scary...

jeybon · « **Reply #8 on:** February 23, 2006, 09:04:23 AM »

This is very interesting. Any idea how the syndicate recruited their members?

Like what Boo has mentioned, those clubs belongs not to us coz we would like 'pawn' in their investment board game. How much can all of us here could pool together to initiate any signifcant change in the stock market? Only people like Sultan Selangor, Tan Sri and Datuk might be able to pool enough $ to do that. So, I don't see legality an issue here. However, sending bullets to others is criminal in nature coz it constitutes threatening. Punishable by Malaysian Criminal Code.

DenLee · « **Reply #9 on:** February 23, 2006, 09:13:38 AM »

I saw lots of seminars and talks on various subjects.
Seminars like option trading are offered as free normally.
Those ppl advertise nearly everyday.
I attended a seminar on 'Doing business on the net' last year and found the same experience as Julez. Those ppl recommended more packages to introduce more 'secrets' of success as discounted price.
How much would we learn from them? Any event organizer here?

julez.lim · « **Reply #10 on:** February 23, 2006, 06:48:52 PM »

From experience,
For Options Trading, they teach you some basics.. then will market their upcoming classes that normally costs 4-figures.
Then, you have to weigh the ROI to see whether is it worth it.
Normally, I just use the information from the basics classes as a general knowledge because sometimes, they may be misleading. The graphs they show you normally is about prices going up rather than down - i guess this is used to boost ur interest.

rozmi · « **Reply #11 on:** February 23, 2006, 07:16:31 PM »

Talking about paid seminar, infact I had attended the options trading seminar back in Jan 2005. It cost me about RM 4K ++. I guess I was attracted by the marketing gimmick that you can make 1000% gains within 1 week and stuff like that..:-)

To be honest, it was over promised and under delivered. The seminar that I attended is just like giving you the overview of driving a car. It tells you that the car has 4 wheels, 4 doors etc..etc..the speaker only shows to you on how to drive a car. It never gives you the oppertunities to drive the car by yourself

It was a 3 days seminar. And in the last day, I overheard some of the participants asking among themselves...what is options trading is all about...pity us...

Anyway, for my case, I knew that I want to learn about the subject. Those seminar is like an eye opener for me to explore on a whole new financial world. I knew that if i succeed, I can be anywhere in the world enjoying myself. As long as that place has internet connection, I can still continue my trading activities ...until that day comes, do not stop learning .....:-)

julez.lim · « **Reply #12 on:** February 28, 2006, 09:55:39 AM »

I do notice some of the option trading seminars, they promise that after the course, they will guide u and give you tips on which stock to buy. Did yours said tat too?
RM4K+ is really a lot... I thought it is normally 2K+

earwax · « **Reply #13 on:** April 27, 2007, 05:41:40 PM »

Nowadays still got lots of advertisements in the newspapers advertising stock market seminars by stock market gurus. Most focus on Options Trading... Problem is some of them are still using examples from the days of the Dot.com boom... e.g. "I made 30% from buying eBay in 1 day!"

In my opinion I don't think it's worth to pay for these type of advice... Stock market and options is not something that you can learn in one day...

Maxforce · « **Reply #14 on:** April 27, 2007, 06:40:37 PM »

Better visit my blog, its free

grahamsmun · « **Reply #15 on:** April 28, 2007, 10:21:22 AM »

Hi,
Why do u need to pay when u have the best advisers around u for free?
For example.
TA-Maxforce
Trading and tips-boofet
Fundamental-Ben Gan and Julez
Industry-Everyone who worked in the different industry.

TwinFit · « **Reply #16 on:** April 28, 2007, 10:26:29 AM »

Agree with you there.

limpeh · « **Reply #17 on:** May 23, 2007, 10:02:38 PM »

All the advice u can get free from internet. I had attend few seminar, options talk, futures talk, stock seminar. They are all crap.
If they so good in trading, why they want to sell the course to u. Because they are salesman... they make their fortune by giving talk. Is not from trading futures or options.

Especially options talk. the speaker will tell u how safe to make money in writing covered call options n make consistent income. But historical result in DowJone counter, most of the counter buy n hold strategy beat covered call options.

200person x RM5000 course fee = 1million income. Wow... speaker can make 1 million per year just by giving talk. So they wouldn't waste their money in trading. If they don't trade their money in futures n options market. Do u tink u can make money by following their advice? tink about it

rayns · « **Reply #18 on:** May 23, 2007, 10:30:53 PM »

They give you the tools only.... how u use it depends on you.... but im quite agree with u

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Author Topic: Is it worth it to pay for advice? (Read 3977 times)