Fear and uncertainty caused by the coronavirus pandemic have gripped the world. In addition to these issues, the issue of police brutality against black men has once again been thrust into the world’s attention. The tragic killing of George Floyd by a Minneapolis police officer and the killing of other black people by the police flooded the news. Demonstrations, peaceful protests, and sometimes riots and violence have attracted the attention of the United States and other parts of the world.
The world is in turmoil and investing may not be on people’s minds. But with the pandemic, many people have suffered financially, so money is an issue. Maybe they are looking for a way to make some much needed money.
There are many more gurus out there who want you to trust them by subscribing to their stock investing newsletters. They promise big returns and make big claims. Their reviews sound too good to be true. Perhaps they are.
So-called investment gurus are promoting their programs even as the unprecedented times caused by the coronavirus have affected everyone. Even in these troubling times, they say, there are exciting investment opportunities in oil, banking, crypto, healthcare and more. They have common names like John, Tom, Ken, Alex, Mark, and Jeff, as well as some more unusual names like Jordan, Derek, and Kyle. Who can be trusted? It’s hard to know.
Sometimes they promise 100% return on your investment or they can be bold enough to promise $2000% per year. It is said that you are more likely to make a profit on your investment on your first trade. If they promise big returns, it’s best to make sure they have a money-back guarantee if they don’t produce as claimed.
If these promises come true, it would be a great opportunity and happiness. However, all too often these are false promises that do not come true. If you find a program that pays as claimed, you can consider yourself one of the lucky ones.
It’s pretty pathetic when not losing counts as winning, but that’s the case with many investments. We can be happy to just not lose our shirts even though the gurus told us we would win 100% or more with their recommendations. By following the guru’s advice, it’s important to cut your losses before you lose your shirt, so to speak. Winning is, of course, the goal.
False claims and dead ends can bring a lot of stress. Minor setbacks can be overcome without major losses. It’s tempting to listen to investment gurus and follow in their footsteps to get the winning trades. However, you can’t trust many or most of them. It’s best to research and learn so you can trust yourself and make the best decisions.