My experience @ investor day- 2013

Hi Friends,

Today I went for the investor day 2013 with one of my friends.My friend wanted to open up an account and he went for a reputed firm. One guy explained few things and after finishing documentary things he started his recommendations.His first two picks were Greg and ECL.I couldn't stop my self and I queried.Only reason was those shares are trading @ bargain prices. With my limited knowledge I told them there are many good shares other than these and told my friend not to jump into those.
My worry is if industry people recommend such shares for potential investors it is suicidal. ( I can reveal the the firm if I'm allowed)
I think we need quality ideas from genuine advisers.

Well its normal.. These days brokers need money and they mostly want the suckers to get into speculatives and get their hands burnt..
They dont care whether the client makes money or not, they make money when clients buy and sell, so that's enuf for them.

Now-a-days, a decent adviser is hard to find..

Leon,pls tell which broker firm it is.we need to know

This is the problem with so called advisers.  
They do not know how to select shares for a newcomer.

The other problem is they do not get any good hints from the matured set in the same company.
The big set deal with high worth and long known customers and put young guys  to deal with newcomers.
So, a newcomer gets advice from another newcomer.

I guess you are not referring the hut where they placed sExY looking female models to attract investors !  

Wow. Does this hut do any other side business that is resistant to all economic times ;-)


On a serios note on Leon post :

This is why every new comer needs to learn some basics of share valuation so they know if there investment advisor is taking you for rides.

Chinwi wrote:

I guess you are not referring the hut where they placed sExY looking female models to attract investors !  

Leon wrote:Hi Friends,

Today I went for the investor day 2013 with one of my friends.My friend wanted to open up an account and he went for a reputed firm. One guy explained few things and after finishing documentary things he started his recommendations.His first two picks were Greg and ECL.I couldn't stop my self and I queried.Only reason was those shares are trading @ bargain prices. With my limited knowledge I told them there are many good shares other than these and told my friend not to jump into those.
My worry is if industry people recommend such shares for potential investors it is suicidal. ( I can reveal the the firm if I'm allowed)
I think we need quality ideas from genuine advisers.

@leon!

good u told this story......
though I am beginner...... this is really SURPRISE for me....
very hard to believe this recommendation unless they have......
VERY GOOD PLANNED GAME to come........
so lot of questions remained to be cleared ..... in both ways negatives/positives..... !!!
 

slstock wrote:

This is why every new comer needs to learn some basics of share valuation  so they know if there investment advisor is taking you for rides.

Which you said is million time true.
In the past I read the following post in this forum, may be an eye opener for the new comers.
http://forum.srilankaequity.com/t16383-6-steps-to-investing-excellence

looks like some advisers are m...... F.......s.take new comers for a ride

Once I asked my agent to buy some plantation shares (Rubber mostly) and he wanted to know why.
When I said the crude oil price was gallpoing, he was confused.
If someone does not know the relationship between crude oil and natural rubber, then he or she sould not take up advicing others on stocks.

is it possible to take legal action against advisers for wrongful advising? someone Pls explain

Chinwi wrote:This is the problem with so called advisers.  
They do not know how to select shares for a newcomer.

The other problem is they do not get any good hints from the matured set in the same company.
The big set deal with high worth and long known customers and put young guys  to deal with newcomers.
So, a newcomer gets advice from another newcomer.

I guess you are not referring the hut where they placed sExY looking female models to attract investors !  

Chinwi, nail on the head.That's LOXX. I wonder what those two models were doing other than showing their figure.Be were guys they are giving advises not for share picking but for.......picking:D   

I visited 6 stalls, out of which the best was NDB stock brokers stall, there i found one gentlemen called Mr Taamara (Sales managers) who got a brilliant knowledge on shares i mentioned, had a very good chat......
They didn't even force me to open an account unlike other broker firms......
He promised to send me company specific research reports via email.........

Leon wrote:

Chinwi wrote:This is the problem with so called advisers.  
They do not know how to select shares for a newcomer.

The other problem is they do not get any good hints from the matured set in the same company.
The big set deal with high worth and long known customers and put young guys  to deal with newcomers.
So, a newcomer gets advice from another newcomer.

I guess you are not referring the hut where they placed sExY looking female models to attract investors !  

Chinwi, nail on the head.That's LOXX. I wonder what those two models were doing other than showing their figure.Be were guys they are giving advises not for share picking but for.......picking:D   

I was with my wife (unfortunately)hm...... nywy 1st time i went there.if we talk about the plus side i met some good guys who gave friendly advices (specially about unit trust i wanted to know)overall i like that program would be good for beginners but as said should not much believe on advisers.
WHAT I WORRY IS
i participated almost all the raffle draws but couldn't win.........(wish if i could win 10000 with bartleet)  

Yaka man,why didn't you walk away with the models leaving your wife with the care of an advisor?now I wonder why I missed the opportunity to see those models. I wanted to come but I had to change the plans at the last moment

In my experience most of the so called 'Investment Advisers' are half baked potatoes who knows next to nothing about share investments. My advice to any new investor is to learn your basics about the fundamental value of a share before you part with your hard earned money. If someone recommends ask for reasons based on the fundamentals.
Sasanka De Silva, I fully agree with your assessment.
Thank you for sharing your experience Leon, it's very important to an investor who's new to the market.

Some advisers are trying to get information or hints from the investors.....     

They too in a race to know things......
senior advisers doesn't seems to say thing correctly or fully to junior advisers...

similarly....

senior consultant/managers doesn't seems to say thing correctly or fully to senior advisers...

seems like its a GAME of SECRECY...!!!

Top Advisers/consultant HAVE or DESIGN or PROGRAM the GAME well..... the juniors.....are the implementers...... we generally deals with them.....

but i know there are some cases...things work well for all too....

But if we are talented..... and work with good counters.... we too may understand the thing reasonably well ......if we do home work well......

Otherwise...if we have good and reliable contact with the BIG once..then it is SURE!!!
coz most of the time they write the SCRIPTS of the DRAMA....!!!!

as a beginner... this is how I feel.... and understand ...... based on my experiences!!!

Why are they called advisers then?it puzzels me now

Chinwi wrote:
The other problem is they do not get any good hints from the matured set in the same company.
The big set deal with high worth and long known customers and put young guys  to deal with newcomers.
So, a newcomer gets advice from another newcomer.
 

Ah.. Hard facts.. Blind leads the blind But if they want, they can get on with their own shoes.. If we do it without these so called advisers, why they cant armed themselves with the finest and free sources such as internet, as their prime research method is a question to me for a long time?????

Sasanka De Silva wrote:Once I asked my agent to buy some plantation shares (Rubber mostly) and he wanted to know why.
When I said the crude oil price was gallpoing, he was confused.
If someone does not know the relationship between crude oil and natural rubber, then he or she sould not take up advicing others on stocks.

Good one mate.. Some adviser are not following market trends and dont know a thing outside their territory
They get wake up calls when som ppl start asking questions and buying..

Leon wrote:I wonder what those two models were doing other than showing their figure.Be were guys they are giving advises not for share picking but for.......picking:D  

An IPO ?

Sasanka De Silva wrote:Once I asked my agent to buy some plantation shares (Rubber mostly) and he wanted to know why.
When I said the crude oil price was gallpoing, he was confused.
If someone does not know the relationship between crude oil and natural rubber, then he or she sould not take up advicing others on stocks.

I think that is pretty hard to find. Most of da guys in da office doesn't know...

I managed to make it around 3. It seemed to relatively empty. I think there were more brokers then investors. I missed the models:( . Maybe they struck another deal. 

It was very interesting to listen to the sales pitch of the brokers. I think they have learnt a few catch words and all they kept repeating them at regular intervals. In comparison the people at the unit trust were much better. One broker did advice me to buy penny stocks but it was part of a portfolio including (the buss word of the day) "blue chips'. I said I have no money for blue chips, then the talk moved to penny stocks.

Overall i was disappointed at the crowds, and been given sales pitch from what i assumed were very inexperienced brokers.