Last year I issued a warning about an investment proposition being advertised aimed at the unsophisticated. I say that as anyone with a scintilla of investment knowledge would laugh at it.
This is by an Auckland outfit calling themselves MATES INVEST which enquiry revealed was a small property valuation firm. They’re soliciting money to buy unspecified property, their single sales pitch being their investments will be ungeared. That is spectacularly ignorant for reasons I’ve hitherto explained and a gilt-edge way to lose ones’ money through erosion.
After a lull they’re now at it again, advertising in the NZ Herald, this time over a heading “Some people thought we were silly. We know it’s only common sense”.
They’re not only silly but pig ignorant when it comes to investment and most certainly it’s not bloody common-sense.
If they want to start a syndication business then do so and I’d certainly not comment. But for God’s sake, ignoring the most critical investment element belies belief, more so when they present it as a feature. Meaning well is no defence to not knowing what you’re doing when you’re dealing with other people’s money.