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Freely
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Livermore
Master |
16-Mar-2009 12:39
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Singaporeans like face and like to be known to be owning a private property. They rather pay a huge amount and squeeze into a small area and live like in a jail. | ||||
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Sporeguy
Elite |
16-Mar-2009 11:13
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They are either investors (hopping to get good rent when the IRs are ready) or speculators (hopping it will increase in price when the IRs kick in). Generally not buying for their own stay. The HDB resale market is still holding up, quite expensive, generally still a few Ks above valuations. This will help to build a support price for the private housing. Buying a 99-yr private condo in is silly (unless it is due location such as near IRs) when compared to HDB which is cheaper and sort of "guaranteed" by govt. |
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hohokit
Veteran |
16-Mar-2009 09:34
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They are not stupid but simple in thinking because of the sheltered environment they live in.
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Livermore
Master |
15-Mar-2009 22:59
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Yeah Singaporeans can be a strange lot. They are willingly to pay a lot of money to squeeze into a private apartment of 344 sq ft to 581 sq ft. Just enough to eat and sleep.
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DanielXX
Member |
15-Mar-2009 21:46
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I never believed in options unless it's for hedging. The idea of consistently being able to make money from short-term volatility which has an expiry date sounds strange to me. The tendency of a professional to be on the other side of a zero-sum game makes the game even more rigged. And the suggestion that someone can actually teach you how to make money from this kind of instrument is most nonsensical of all. Market sense has to be internalised from experience, it can't be taught. You have to reason it internally within yourself and develop your own framework of thinking. There are many roads to Rome, but they must all be constructed personally by you.
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singaporegal
Supreme |
15-Mar-2009 21:37
Yells: "Female TA nut" |
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Can't blame the public. This guy has a Phd and was interviewed on newspapers and TV. I remember an entire episode on TV dedicated to him once (was it last year?). The natural inclination would be to think that he is a real expert and because of this, people think that it is worth it to fork out thousands of dollars to learn from him.
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DanielXX
Member |
15-Mar-2009 21:32
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Singaporeans are so stupid. Frankly, they cannot think for themselves. 3-4k for a course when they can acquire the same knowledge independently from books for $30-40. And then they try to get back the money years later when they hear from others that they have been scammed. | ||||
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singaporegal
Supreme |
15-Mar-2009 21:28
Yells: "Female TA nut" |
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People have always asked me if they should attend so-and-so course or seminar. My response is always the same - if you are a newbie, you are better off reading a book and then trying out the techniques using a demo account. You'll be able to retain much more knowledge than a seminar.
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iPunter
Supreme |
15-Mar-2009 18:18
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How lucky you are... but it's his livelihood... 
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StarLine
Senior |
15-Mar-2009 17:37
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I actually went for listen to one of his talk. But did not have money to pursuit further. There was news coverage of him in ChannelNewsAsia and US News Reports. |
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Hulumas
Supreme |
13-Mar-2009 19:16
Yells: "INVEST but not TRADE please!" |
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Farming trading mind set to Singapore public is severely dangerous!!!
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tanglinboy
Elite |
13-Mar-2009 16:36
Yells: "hello!" |
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This successful court case may open Pandora's box and the past students may start claiming for refund. That will be painful for them. | ||||
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trader88.sg
Veteran |
13-Mar-2009 12:47
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March 13, 2009 Trading 'expert' ordered to refund fees Course trainees were upset that option trading instructor's doctorate came from an unaccredited university A group of 49 people scored a legal victory over a self-styled expert on option trading who turned out to have a dodgy doctorate from an unaccredited American university. A dozen of the course participants said they had paid Mr Clemen Chiang between $3,600 and $4,000 last year for a three-day course on option trading - a complex and risky investing technique which often amounts to betting on share-price trends. Several had also forked out another $960 for training software and a handful paid $1,600 to $12,000 more for online tutorials referred to as 'webinars'. Mr Chiang, a 34-year-old Nanyang Technological University engineering graduate, has been running these seminars for a few years at his Freely Business School in North Bridge Road. He would tell students his own success story of how he made millions, and he drew hundreds of participants. He claimed to have a PhD in option trading, a rarity in the finance industry here. But when it came to light last year that his doctorate was from the unaccredited Preston University in Alabama, the group of 49 wanted their money back. Yesterday, the Small Claims Tribunal found that Mr Chiang had misrepresented his qualifications. It awarded all participants a refund of close to 80 per cent of their fees for the seminar and a full refund for the cost of the software and 'webinars'. Mr Chiang, who still calls himself 'Dr', attended the hearing but did not speak to The Straits Times. The Small Claims Tribunal is part of the Subordinate Courts and can hear claims involving the sale of goods or services not exceeding $10,000. Outside the tribunal, several participants said they felt cheated when they read a Straits Times expose on degree mills last August. The report named Mr Chiang as having a PhD from an unaccredited university. Sales representative Terence Tan, 41, said: 'I signed up because of his PhD. Option trading is a complicated thing. I thought this guy should know what he is talking about since he had a PhD in it. 'So imagine my shock when I found out that his degree was not from a recognised university.' Like some others, he felt the course fell short of providing a good understanding of option trading. Engineer William Hui, who paid $8,000 for himself and his wife to attend Mr Chiang's course, said: 'He should have called it 'Millionaire mindset', because for a whole day, it was just about how much money he made, his Sentosa Cove bungalow and his wife's Hermes Birkin handbag costing over $10,000.  'When he finally went into his so-called method of trading in options, I found it lacking. And then he tried to sell his software for another $960.' Mr Chiang still claims to have a PhD on several of his websites, but makes no mention of Preston University, which American education authorities have called a 'degree supplier' offering 'fraudulent or substandard degrees'. Last August, he told The Straits Times that he was also pursuing another PhD at the University of South Australia. When asked then why he had opted for a degree from an unaccredited institution, he said he wanted to complete a PhD in double-quick time. Because Preston University was listed as a partner of a private school registered with the Education Ministry here, he said he thought it was an accredited institution. It was only later that he realised that Preston was not accredited in the United States, he said. Like other business people who had bought fake degrees, Mr Chiang said then that it helped to pave the way in business. Checks last year found more than 200 people - including prominent businessmen and financial consultants - flaunting degrees, MBAs and doctorates from degree mills and unaccredited, substandard institutions. |
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tanglinboy
Elite |
13-Mar-2009 09:45
Yells: "hello!" |
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Saw newspapers today that 49 ex-students of Freely sued and got their money back. Is this the start of the end of over-priced investment training industry in Singapore? |
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