Stock Market Lesson in a DTC Bus
While travelling on a DTC Bus near Kashmere Gate, Delhi yesterday, I saw this interesting con game played out.
A young man with a wad of notes and coupons announced that he was giving away prizes. All coupons will ensure atleast a return of investment and people can win jackpots too.
A man ventured his Rs 50 and immediately got Rs 100 in return. Then another guy got Rs 100 for his 50.
Then the floodgates opened. A guy got Rs 150 for his 50. And the stakes continued to rise.
Suddenly there was a frenzy. In the melee that ensued, the guy sitting next to me joined the melee with Rs 500/-. He came back clutching a handful of “gold rings”.
And the guy with the midas touch had vanished. 
I could see the greed writ large on my co-passenger’s face. And later, the wry smile of a loser. !
Obviously the Midas guy had friends planted as passengers. He worked up greed and vanished with a few thousands in a few minutes.
And even though it was obvious that it was a con game, people got sucked into it.
That’s how the sharks operate the stock exchange too. No?
However it still remains a mystery as how less we know about personal finance. The only solution is to share whatever useful stuff you find.
Some readers have come back to me saying that I should facilitate easy sharing of my content. So go ahead share it with your friends and family
Welcome. This blog is a journey to improving my financial IQ and sharing what I know. Please subscribe to updates via RSS feed or by Email. Thanks for visiting!
Coming Soon! A Personal Finance Workshop & Software "RupeeManager". Stay tuned
This is indeed funny. That these conmen have a job inspite of getting busted daily is a surprise.
You had a very interesting day then. I guess it happens everywhere all the time.., greed gets the better half of people, and they get conned by schemes that sound too good to be true to begin with.
In stock market, Madoff is the latest example, but he wasn’t lucky enough to escape! he’ll spend the next 150 years in prison!
Hi
Exactly the same story happens in stock market daily. The large Midas Guy ( FII ) plant their friends ( small brokers ) in market to make a movement in some stock and at the time small investors come into their net, they escape with good amount of money of these greedy small investors.
Khalid