I just wanted to jump on real quick and talk about Celebrity endorsements.
An ICO (OR initial coin offering) being promoted by Michael Clarke has just been pulled by ASIC. Read more here: https://www.smh.com.au/business/companies/michael-clarke-backed-cryptocurrency-folds-after-asic-comes-knocking-20181022-p50b88.html
So what are Celebrity endorsements in financial products? They are paid for their promotion of the product. If it’s for Doritos or sport attire and shoes, something low risk, then maybe that’s okay. BUT, when it comes to investments or financial products, it’s DANGEROUS, just too risky.
Matthew Hayden was dudded in the Nant boutique whisky collapse, https://www.abc.net.au/news/2017-09-08/nant-whisky-investors-staff-matthew-hayden-dudded-in-collapse/8882420
And Paris Hilton have been caught out in the past. In fact, the US Securities and Exchange Commission came out with an investor alert last November. Warning investors not to make investment decisions based solely on celebrity endorsements. Obviously it is becoming a problem globally. Read more here:
Often, the celebrity doesn’t have a clue what it is they are recommending, it doesn’t matter how many times they claim to have researched it, don’t buy into the hype.
When it comes to investing and financial products, well researched rock solid investments, you’re not gambling.
If you’d like to chat about your investment portfolio, call me on 0403 026 800 to arrange an obligation free 20 minutes discovery session.
Thanks to my friends at MFG for the background work on this article.