I’m simply speaking to myself about some issues an article in The Straits Instances has talked about.
How one can assist younger people who find themselves nonetheless enamored with cryptocurrencies regardless of the horrific crash?
OCBC says about 1 in 5 Singaporeans are invested in crytocurrencies.
On common, Gen Z and millenials who made losses misplaced 40 per cent from crypto investments.
Stunning factor is 39 per cent of these of their 20s are nonetheless more likely to make investments extra in cryptocurrencies within the subsequent 12 months regardless of their losses.
I’ll say 2 issues right here:
1. Shopping for cryptocurrencies within the hope that costs will go up in order that they will become profitable by promoting to another person shouldn’t be investing however it’s speculating.
2. Shopping for extra of any asset when Mr. Market presents a cheaper price is barely an excellent investing concept if that asset is a bona fide revenue producing asset.
Anyway, how you can assist these younger individuals?
World Financial Discussion board means that monetary literacy schooling is vital and suggests that folks can use trusted blogs to study investing fundamentals.
AK wonders how can we inform which blogs are reliable and which aren’t?
Article went on to say that regulators ought to require firms promoting or selling monetary merchandise to have a “fiduciary commonplace of care.”
Then, what occurs to all of the bloggers and Youtubers telling individuals to place cash right here and put cash there for greater returns?
Some are additionally selling get wealthy fast schemes in varied kinds?
Many if not most are sponsored to do promotions.
All will kena like that?
Keep in mind to not ask barbers if we’d like a haircut?
Now, the barbers will inform you what haircut is healthier for you as a result of they should present “fiduciary commonplace of hair.”
Am I proper to say that?
Barbers jin jialat like that if I’m proper.
The article says setting greater requirements for monetary providers corporations might defend younger individuals higher.
Operative phrase right here is “higher.”
It will not defend anybody who’s cussed and who nonetheless needs to observe “evil” funding gurus.
Ignorance is bliss?
Very headache however what to do?
Not too long ago revealed: