For many big financial institutions on Wall Street, we're simply customers to be sold a product.
The case is also a great example of how not to invest. You could go a long way in this life just by observing the behavior of wealthy and powerful investors in Abacus and then doing the opposite.
Never assume the big money is also the smart money.
What are the lessons?
1 Never put too much faith in a bank.
2 Think twice before buying any complicated financial product.
3 Be wary of investing in something you don't understand.
4 And when in doubt...
Monday, May 17, 2010
How NOT to Invest: Four Lessons From the Goldman Case
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4 comments:
i have been caught in such a stuff before myself. i always gave importance to big names but often find myself over-investing due to those names. The tips mentioned here are really helpful..thanks for the article...
its nice to hear this blogging site.
Robert
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