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I have been offered a great share deal from someone in Bangkok - what should I do?

Thursday 24th January 2002

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Q: I have received two phone calls from companies in Bangkok in the last few weeks. One offered me IPO shares worth $1.15 US supposed to be worth $15.00 in a few months. The other offered to double any investment in 4-8 months. This sounds to good to be true - could you give me some advice? I don't know anything about the stock market.

A: You're right to think this offer is too good to be true - it is! If you knew of a way to make the sort of returns these people are offering, would you tell anyone? I don't think so. Just decline whatever they are offering and ask them not to call you again. The people who phone with this kind of deal are generally operating from what the industry refers to as 'boiler rooms'. They make money on the volume of transactions they can do rather than doing what is in the long-term best interest of their clients.

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