There are no risk-free investments. Even treasury bonds aren’t risk-free (the US can go into default). Risk is always calculated into the price of the asset you’re paying for, and if someone gives you 10% returns they preach as risk-free, it will ALWAYS be a scam.
I work in the private wealth management business, and I am amazed by reading some of the discussions across many of these cryptocurrency threads. If I made 5% of the promises I've seen, I would be barred from the industry. Please, please understand that risk is calculated in the price of an asset. I am sorry for all your losses, but hopefully, this can be a learning lesson. Any financial professional registered by Finra (for example, passing the series 7) is not allowed to call any investment risk-free.
We must tell clients that past performance is not indicative of future results. There are also banks, Barclays for example, who have developed algorithms to beat the massive inflow of retail investors during the pandemic. These people are much more intelligent than I am, and 99.99% of retail investors, at least on the financial markets.
I work on a team of around seven people. We have approximately $450 million AUM. We have one person who creates the models, and they differ depending on the client's investment objectives, and even he realizes that long term, the chances are he will not beat the market. There are anywhere from 10-25 mutual funds/ETFs that will go into each model, and unless you want to gamble your whole life, this is a great way to invest in the long term. Other people in the office do create portfolios of individual stocks, but they are always well diversified. Both strategies are great ways to build long-term wealth but DO carry risks.
Understand that there will always be people who do beat the market and some even long-term, but there are 100s and 100s of people who take losses for that to happen. I hope you don’t take this as someone being smug online and instead use it to seriously think about how you want to invest for the future. For the people who want to take massive risks for the chance of a massive payday, by all means, go ahead. For the people in here looking to build long-term wealth, you are asking for trouble.
For those who think this is an advertisement for the business I work in, it’s not, I would certainly not be allowed to acquire prospects this way, and I would need to have this whole post approved by compliance before posting.
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