21Dec
Investment Wisdom from the Investment Owl – by Jon Bennion-Pedley
Over the past month I have seen three crypto currency operations fail here in Uganda. All of them were promising ridiculous returns – and all of them paid those insane returns (30-40% per month) for at least 5 months……enough time to suck a huge number of people into what was nothing but a Ponzi scheme. In total more than $5m dollars has disappeared. One of our team´s friends (told by me not to invest, then to disinvest, then to run a mile!) lost about $10k. That is a life-changing amount of money in Uganda and it is unlikely that she will ever recover from it.
In other cases people who had been sucked in to the scheme convinced family and friends to invest and relationships have been torn apart. One investor was murdered by acquaintances that he had told about the scheme . One church mortgaged its building to invest and raise money for good works. The catalogue of misery is endless. And so, as we reach the end of 2019, here are five rules to protect your wealth from bad investments in 2020.
1. If you are investing less than £100k and being promised more than 15% per annum returns then there is real risk. If you don´t want to risk losing capital avoid it
2. If you don´t fully understand how the investment works run away from it. Fast.
3. If the scheme is less than 3 years old then avoid it – most Ponzi schemes fail before then
4. If it is introduced to you by a friend who is not a financial expert then insist on meeting the people behind it
5. ASK US!!! Investment Owl offers a free assessment service. If you want an unbiased opinion and independent advice then get in touch
And lastly – if your gut tells you there´s something not right then don´t invest.
Investment Owl wishes you a peaceful and joyful Christmas – and a safe and profitable 2020. Enjoy!!!
Written by Jon Bennion-Pedley
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