As of today we are talking about how finfluencers are fooling investors and minting money. Whether giving stock suggestions or tips, or promoting wrong product or platform. Whatever is the case, we are blaming the finfluencers for giving false information.
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And this is true too, I have seen people giving wrong advice lot of time and a lot of people who follow then applies that advice and get loss. The problem is people don't know if thar is real or not, because a lot of them fake it. Like the other day someone shared that they earned 1 Lakh rupees from Rs 10K and thus shared some screenshot. The screenshot might be fake or real we don't know but one thing is sure thar it doesn't happen always. And that'd why following someone blindly will help you lose money.
Now this is not new, it has happened in the past. My father used to watch Zee Business and some anchor used to give tips about the shares. And he will share only those tips which he has bought and once the tip was broadcasted, he used to sell that stock in profit. This way he has earned a lot. And thus after earning a lot SEBI got to know about it and they have to close the account of that investor.
So yeah misleading public by people is not new and people usually mislead for their own benefit. For the views they can say anything and thus at the end it is the people who have listened to the them suffers a lot. And that's why it is said that not to listen anyone blindly and do your own research before investing even a penny.
And that's true not only in investing but everywhere, doing the research is so very important and not doing which you are fed.
