Trust

I came home late on Saturday night, turned on the TV and switched to the Cable News Channel.

The newsboardcaster reporting a forum titled,
"How to deal with the Financial Tsunami in 2009?",
showing a quick glimpse of a so called expert (a MD of Unit trust) saying so confidently,

"According to the historical P/E, HSI at the current 15,000 points is at the "Bottom"......"

I just could NOT stop shaking my head.

Guys like these, the Faked Experts, keep Openly stating the False Conclusion because either,

- they DO think they are Right, meaning they are Incompetent;
(Price for Lehman Brothers was US$64 in 9/07 and in 9/08? It was........ 0!!! Historical P/E just a Joke!)

OR

- they DO know that they are Wrong, meaning they are Cunning!!
(So that they could make money out of you, regardless whether you win or lose!! They make sure YOU take the Risk, they take YOUR Money!!)

Then, I read the newspaper about a "Pyramid Scheme", the Biggest of its kind, operated by the Once Well Respected Ex-Chairman of (US) NASDAQ, Bernard Madoff. (Did his surname NOT giving you any Warning?)

In fact, this could be the Biggest Fraud ever - even the Japan Largest Broking Firm, Europe 2nd Largest Bank, the World's 4 Largest Bank etc. are Victims. It is believed US$50 Billion is involved.

Did I not warn you lot before,

"There is only one kind of expert in the Financial World - the Ripping Off Expert!"

"The so called experts that appearing everyday in TV, Newspaper etc. are Salepersons only!"

"Anyone trying to make you Dependant on them - Runaway from them - Runaway from them FAST!"

How one could Trust anyone has a CONFLICT OF INTEREST to manage their Hard Earned Cash is always beyond my Imagination. (NOT to mention the facts that they have NEVER met this "Expert"before, "Experts" Much Younger than them, "Experts" have Much Less Wealth than them etc.!)

Some have paid a High Price for Mistrust.
Just look at how the "I Kill You Later" (i.e. Accumulator) has done to the Billionaires!

Just listen to those having a Less Biased View:

The Chairman of the Chinese Securities Commission,
"The Damage of the current Financial Tsunami has NOT fully surfaced. The Damage so far has costed about US$7,000 Billions and the final bill could reach US$3 Trillions......."

This means ONLY about 25% Damages has surfaced.

The Economic Affairs Consultant for HSBC (also once served as the same role for the HK Government),
"Due to the current Financial Tsunami, it will probably take HK economy 5 years to recover"

Be well prepared, my Friends - the WORST has yet to come - wait after the Christmas, wait after the Chinese new Year. More Bad News to come.

Do NOT Routinely, Completely Trust ANYONE - unless they have proved themselves.
Even then, NEVER Drop your Guide, because people's Characters DO change overtime because their Circumstances constantly change overtime.

So, I could NOT tell you how honour I have been when my old friend (known for 26 years) has agreed to take on 50% of the publishing cost of my to be published book - this's a vote of Trust.

The Book is my "Payback" to the community - a Charity Project.

Fate
Be Your OWN Fund Manager
p.s. Thanks Fiona for your comment to my "Face to Face with My OWN Fate". I am glad that you have found something useful in this blog.