I had some spared time last month and had some spared money. So I thought of investing in share market. Before investing I started my own research, and found couple of guys who give HOT TIPS. Importantly they make their old tips public as how successful they are. It comes with nice charts and all. Impressive! I was looking at their tips. Their tips spanned for one year when Sensex was in 9000 to when sensex zoomed to 17000. The investment I made when sensex was at 21,000 and have not touched during bearish market fared better than the tip period. I looked for tips when market was in 21,000 date and no tips. Wrote a mail to the customer care and got a reply saying they don't keep data beyond a year. Nice way to put data we actually give good tips when tips is no better than market sentiment.
One of my friend was buying a home in 2005. He was looking at various housing loans. An agent from a private leading bank approached him with all the details. He said bank provides 2 kind of home loan interest 1)Fixed rate and 2) floating rate. Fixed rate Interest was about 1 percent higher than the floating rate. I advised him to go for fixed rate as the interest rate is all time high and can go up at any time. And he almost agreed. Then came our counselor, the home loan agent. He said rate has never changed in last 25 years for people who opted for floating interest rate. So most probable it wont change either. Why to pay extra one more percent. And my friend got convinced and signed the document. I have not asked the question on the spot, but later realized the interest rate went down with time in last 26 years. And bank never handed the facility to borrower. Will it continue to do the same in case rate goes up? And my doubt turned true. He got loan with 7 percent and paying an interest of 11.5 percent.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment