Investing For Beginners?!




Here and there, I will join these so-called "Investing for Beginners" Facebook Groups because it captures my interest. I also join these groups to find out what actually goes on in them. Call me a "watchdog" or have you, but I'm here to HELP beginners. After seeing what goes on in a lot of these "Beginners" Groups, my new goal might be to SAVE beginning investors. 

Since these Facebook Groups are labelled "private", the group moderators usually ask a question or two why you want to join their group, before allowing you to join.

Kind of a silly, wouldn't you say? If the group is for beginners, most people who want to join the group are new to investing or a novice who wants to learn more.

Well, I play along and join these groups and what I discovered

was absolutely SHOCKING!!

There lies at least one Facebook group with the "Investing for Beginners'" title I stumbled upon that is NO WAY near to being a beginners group.

Most of the chatter on this group comes from the moderators who boast how much money they make ( or claim they make ) trading "penny stocks" and Crypto Currency coins. Day in and day out. You know, the Bitcoin stuff and the other digital coins that are so popular these days. You know, these cheapy stocks that might have good news one day and the next they are out of business.

This is an exact post from the Group Leader of one of the "Investing for Beginners' Facebook Groups. You tell me if this sounds like something a beginning investor should see from a Leader:

"I know half the group is scared of Cryptocurrency but I want to get your minds wheels turning this morning.. 
Think about this: archeologists find Greek coins dating back thousands of years B.C., it wasn't until the late 1900's that credit/debit cards became mainstream. Physical money is expensive to make and Costing governments billions every year and it is freakishly outdated. Our technology is moving so so damn fast that in the last 20 years we have already Progressed past cards!! We've got CashApp, Facebook Pay, SnapCash and a million more apps eliminating the need for even a physical card!! 
Now ask yourself if it is really so outlandish that we transition into a 100% secure Cryptocurrency that keeps a record of every transaction to prevent fraud and performs transactions 100+ times faster than Visa? The technology is here and we are at the ground floor. I understand it is in a dip right now but this will be the future. 
I know I'm going to catch flack for this post but I stand by my opinions and I see the world hurdling towards this quicker than most realize. Drop a couple hundred on some coins and thank me later..."

The first comment:  "Bob, I agree with you 100%!"


ARE YOU SERIOUS? I'm not making this up.

 Scrolling down the Facebook group day looking at various posts, you see people posting stuff like
 
" I made $10,000 buying XYZ coin - in 1 day" 

or....

"Buy XYZCFFD Stock. Thank me later" 

or... " I bought XYX at 2 cents, sold it for 10 cents, Boom!"

These posts are cheered on with favorable comments and copycats posts.

Here and there, you might see someone new to the group post something like,

"I'm just starting out with investing, can anyone help me."

There might be 1 comment, maybe no comment at all.


THIS IS ALL FROM AN ACTUAL "INVESTING FOR BEGINNERS" FACEBOOK PAGE. 

AND THEY HAVE OVER 2,000 SUBSCRIBERS. 

THIS IS NO BEGINNERS GROUP SITE

 You know, I originally started this site to try to HELP people. Now that I know what is going on out there on Facebook, I started my own Facebook Group to SAVE people.

I call it: Investment and Finance Club For Beginners  It is purely a financial and investing educational group. It has none of the nonsense as stated above.
 
Readers, what's being posted on these so-called beginner sites is very scary stuff and is extremely dangerous to your financial health - especially for beginners! 

These group leaders/moderators (who are probably a bunch of kids,) are irresponsible and manipulating beginners.

I believe Facebook should crack down on these groups.

Here's why:

Let's say you are a true beginner and you are ready to invest for the first time. You want to learn more about investing so you join one of these "beginner" groups. When you ask for help, you have people telling you to buy this or buy that. You see people talking about how they made so much money buying some unknown product.  You see people talking about how easy everything is.

A beginner might think - hey this is easy. Let me do it too.

They take their money and try to imitate what some of these "kids" do and they end up LOSING.

They might lose most of their "investment".
 
Why do they lose? Because most beginners do not know what they are doing. That's why they are beginners!  They read about these people making money left and right and they want in.

So what happens to a beginning investor who gets wiped out? Besides going bust, they may lose the confidence they built up to start investing in the first place.

And what accountability do these Facebook Groups have? None. 

In investing - nothing is easy.  I don't care who says it.

And nothing you read on those groups can be trusted.

The scary thing is that they have over 2,000 people in this group. How many of these are beginners trying to follow along?

Don't be fooled. 







Comments