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4 Common Investment Biases You Should Avoid – Forbes Advisor INDIA

As individuals, we all have certain biases and beliefs. They stem from different sources and profoundly impact how we think and go about things in our daily lives, including investments. While some notions, such as discipline and patience, help in the investing journey, certain biases can prove to be achilles’ heel for you. 

These biases not only hamper your investments but also prevent you from augmenting your riches. They act as a roadblock in attaining financial freedom and addressing life goals. Here are the four biases you should steer yourself away from.

1. Herd Mentality Bias

There must have been occasions when you have been tempted into investing in a financial instrument just because you have seen your peers and others doing it. It’s a fact that most of us end up chasing financial tools that others invest in, believing that such a move will help them build wealth and that they can not go wrong.

Do you remember the dotcom bubble? During that period, many people ended up investing in companies that didn’t possess robust corporate governance models and strong balance sheets. The results were disastrous.

In a nutshell, adopting this mentality can spell doom. You must make any investment understanding the product structure, the associated risks, and aligning them with your goals and risk appetite. Of late, many new fund offers (NFOs) have come to the fore promising attractive returns. Many investors have even invested in…

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Police arrests and ASIC raids target fake bond scam

The man was granted strict conditional bail and will appear at Fairfield Local Court on Wednesday 15 December 2021.

That arrest follows the apprehension of a 52-year old American man Richard Emile Ayoub in Woolloomooloo, Sydney on Friday November 12th.

Regulatory sources confirmed three search warrants were executed in Victoria and one in NSW in relation to its ongoing investigation into a suspected fraud ring. NSW Police executed two raids on the same day on 12 November.

It followed the establishment of an investigative team known as Strike Force Tallagranda by Kings Cross detectives in March to investigate a growing number of fixed income-related scams allegations.

Electronic devices and documents were seized from Mr Ayoub’s unit in Cowper Wharf, Woolloomooloo, after a search warrant was obtained.

Fake bonds

“The investigations revealed [Mr Ayoub] was operating from NSW and had allegedly received more than $2.8 million dollars from 14 would-be investors – many of them retirees – before [allegedly] funnelling the money into bitcoin, between March and August this year,” the NSW Police statement said.

The would-be investors claimed to police they were duped into investing in fake bonds, mainly through self-managed super funds, by online operators allegedly posing as trusted financial institutions.

Mr Ayoub was charged with 13 counts of obtaining benefit by deception and 13 counts of reckless deal within the proceeds of crime. A bail review was scheduled for last…

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Reverberations of Cryptocurrency Proliferation and National Security

Although cryptocurrencies have become increasingly popular in recent years, their proliferation has raised national security concerns. With the Indian legislature set to evaluate the regulation of cryptocurrencies, this article examines the challenges posed by cryptocurrencies and the need for regulation.

The popularity and proliferation of cryptocurrencies over the last few years, has been paradoxical.

While admirers hail cryptocurrency as the currency of a future decentralized world, the likes of Warren Buffet and Bill Gates dismiss cryptocurrency as ‘being of no value’ and a ‘technological innovation the world could do without’.

Notwithstanding the confounding views, governments and regulators have long been voicing concerns surrounding cryptocurrency employment in the mainstream economy, both from the macroeconomic and national security perspectives.

In the background, the present article aims to understand cryptocurrencies (as existing) and, at a high level, analyses actual and implicit national security concerns.

What is cryptocurrency?

Definition

Cryptocurrencies lack a universally accepted definition due to the atypical traits and lack of a homogeneous approach across sectors.

The US Department of Justice describes cryptocurrency as a form of virtual asset that uses cryptography to secure financial transactions. The Reserve Bank of India (RBI) defines ‘virtual currency’ as a type of digital money used among the members of a specified virtual…

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Gov’t officials protecting ‘swertres’ operations in Bohol, says Herrera

NOTE: THIS STORY WAS FIRST PUBLISHED IN THE BOHOL CHRONICLE’S SUNDAY PRINT EDITION.

The continued proliferation of illegal Swertres in the province is due to the protection ring extended by politicians.

This was the declaration made by former Vice Gov. Julius Herrera who refused to name names after he pointed out the almost 100% absence of apprehensions of persons behind the multi-million swertres operations in the province.

He brought to the attention of the public that unlike in the massive crackdown on drugs, there is none in the illegal numbers game.

Herrera was surprised why Boholanos are not up against the proliferation of the “yellow” lotto outlets spread in almost all of the more than 1,000 barangays in the province.

He said that while there are the legal counters, many more are engaged in the illegal swertres competing in a way with the legal lotto outlets.

“Why are the local officials not lifting a finger to minimize the illegal swertres?” Herrera questioned.

He estimated that the province’s illegal lotto operations could easily gross  P3 to P5 million daily.

With the massive illegal swertres operations in the province, it is “surprising why there are very few apprehensions on illegal swertres,” Herrera questioned.

A Davao-based group is allegedly running the lotto operations here, Herrera said.

WHERE’S THE INTELLIGENCE FUND?

Herrera likewise questioned the proliferation of investment scams…

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10 Biggest Risks for Crypto Investors (Both Beginners and Veterans)

Cryptocurrencies have exploded in popularity over the last decade, and almost everyone is talking about them or investing in them. However, cryptocurrency investments are unlike any other in the financial system. They defy conventional investment trends and are prone to ludicrous swings.


There are over 10,000 cryptocurrencies and a slew of cryptocurrency exchanges, with more being added daily. That’s a lot to take in, especially for first-time investors. This article will go over the biggest risks that new and experienced investors should be aware of in this wildly volatile market.


The 9 Biggest Risks for Crypto Investors

Unlike physical money (or fiat), cryptocurrencies are not backed by banks or governments and are highly speculative. Cryptocurrency transactions exist as digital entries on a blockchain. Cryptocurrencies are a trustworthy and secure system because of the public ledger system.

While the blockchain may aid crypto security, the decentralized nature of cryptocurrency, combined with the anonymity it provides, poses risks. The following are ten significant risks associated with investing in cryptocurrency:

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1. Volatility

Volatility is one of the most basic indicators of an asset’s financial health, and cryptocurrencies are one of the most volatile investment options out there.

In early 2021, Dogecoin rose by over…

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How Einstein, Elon & Uncle Sam Could Ruin It by 2050 – Bestgamingpro

The cryptocurrency world is a one-of-a-kind financial wonderland in which timing is everything and nothing is certain. A billionaire tweets out a meme, and you’re pushed toward one margin or another the moment you believe you’ve got a handle on the market.

Users of rollercoasters and thrill-rides may enjoy the experience, but investors searching for a way out from under centralized currency and banking may desire for a less tumultuous future.

Unfortunately, the road ahead is not easy. Decentralized digital currencies like Bitcoin and Ethereum make perfect sense on paper. I still have a dollar’s worth of Bitcoin if the US government decides to declare my citizenship invalid and denounce me. However, every penny of fiat money I currently own in US markets, banks, retirement accounts, and other investments

In a genuinely decentralized monetary system, no single government or other cryptocurrency owner should be able to seize your funds. However, in most situations, it’s only the technology that prevents authorities from seizing cryptocurrencies. What if the technology against which you’re defending fails?

Today, with literal cryptography, we are certain that our cryptocurrency assets are safeguarded from intrusion, theft, and withholding. Because they’re encrypted, it shouldn’t be able to access our crypto holdings in the same way that the government can’t listen to our WhatsApp conversations.

In today’s world of ever-changing hacker vulnerabilities, the…

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The deceitful fraudsters whose despicable actions landed them in prison

These fraudsters from across Greater Manchester who have ended up behind bars after their deceit was uncovered.

Whether they were a funeral director who stole from grieving relatives, a company boss who enjoyed a sham life of luxury or fraudsters who targeted the elderly, their shocking crimes ended with judges locking them up.

In some of these cases, victims were conned out of thousands of pounds of hard earned cash.

READ MORE:Manchester Christmas Markets 2021 dates, times, locations and everything you need to know

Here are some of the fraudsters who have been jailed in recent times.

Kirk Whitehead



Kirk Whitehead

Whitehead’s brazen frauds funded a lavish lifestyle.

He enjoyed luxury holidays, meals out at restaurants and a trip to York races through crime.

Whitehead abused his position to spend more than £70,000 of company cash on the sham life of luxury.

He used a false CV to obtain a managing director job at Bolton-based electric supplies company Homespares, and started to claim expenses he wasn’t entitled to.

During that time he used his business card to fund a life of luxury, and also claimed the costs back for a second time by submitting the receipts as business expenses.

He later worked for another Greater Manchester firm, Qualtrex, where he continued his fraudulent activity.

He was finally rumbled by detectives in GMP’s economic and cyber crime unit.

Whitehead, 41, from Leeds, pleaded guilty to eight counts of fraud by false…

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DeFi: Over US$10.5bil of cryptoassets stolen this year

The 2020 boom in cryptocurrencies has brought a new surge in fraud in an environment that’s still largely unregulated. An Elliptic report gives worrying figures, with an increase of more than 600% in cryptocurrency losses due to theft or scams between 2020 and 2021.

It’s the trend of the moment in the crypto world, with new cryptocurrencies coming out every day, all trying to make their mark and survive in a hyper-competitive and profitable universe.

Unfortunately for many investors, a certain amount of cryptoassets are actually scams in disguise, on a mission to steal the money supposedly invested. Most of these scams play on a current trend, like a TV series, to give themselves a semblance of credibility, or at least familiarity.

One example is the ‘Squid Game’ cryptocurrency. On closer inspection, it was clear that this investment looked particularly dodgy, with a site riddled with errors boasting prestigious partnerships with Netflix, Microsoft and even the support of Elon Musk. In a few days, the cryptocurrency jumped to just over US$2,800 (RM11,869), before seeing the creators make off with the money and drop its value to US$0.

A cryptocurrency named “Mando”, after The Mandalorian series, earned the approval of several American TikTokers. But it ended up being another scam, and the investments of hundreds of American students were placed in the hands of thieves.

A…

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Guy Explains Why You Should Avoid Crypto Mining Pool Scams On Twitter

Cryptocurrency is the pool where investors are of the belief that by taking a dive in it, they can make big bucks effortlessly, tempting more and more people to try their hands with crypto investments. But its fluctuating nature has shown us how deadly it can truly be.

Reuters

Also Read: Crypto Scammers Target iPhone Users On Tinder, Bumble Dating Apps

However, apart from market fluctuations, several scammers are out in the open trying to snatch your hard-earned investments. Today, while browsing through Twitter, I stumbled upon a case of a scam that lured an individual into losing $200,000 worth of Ethereum.

  

The tweet shared by one user @CoinTakingLs were actually screenshots from subreddit r/CryptoCurrency by user rongy_dringus. He describes how someone contacted him on Twitter randomly and after talking to her for around a week she asked him to join an Ethereum mining pool where she was able to make 4 Ethereums a day as profits

She explained that it essentially asks the user to take tether in your coin base wallet and join an Ethererum mining pool. The same tether is used to create Ethereum and users get dividends in the form of more Ethereum in return. 

Also Read: She Pulled Off World’s Biggest Crypto Scam, Stole Rs 28,500 Crore With Fake ‘OneCoin’

Earning Ethereum every day

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