Sunday, September 4, 2016
Many HNWs were just lucky than smart
Saw that in the ST yesterday. After so many HNWs have been "legally scammed" and millions of dollars poorer, MAS is going to add insult to injury by getting them more protection against private bankers selling them time bombs.
You would have thought these are the smart ones who could look after themselves right? Well coincidentally a few days before Bloomberg had this very appropriate, "tell you the truth" article for those who have the courage to accept the truth.
You have been lucky in business and gotten rich, if you attribute that to being smart rather than luck then good luck to you. Those who were more self honest know that to replicate their luck elsewhere is really risky. They are the ones who do not need to read the ST article or this one from Bloomberg. Now such people are the minority, for the majority I wonder if they even know coming under MAS protection is an insult to their business brilliance or more honestly to save them from more bad luck.Perhaps they were so lucky and too dumb to realize this. Well when the reversion to the mean comes, then money that came quickly would also go quickly. Good luck, you need it.
Posted by PengYou at 10:51 AM