Mums and dads and retail follow this narrative and pay money for their advise. That 'Scotty' from Motley who gets on the Today show and spruiks his market predictions. Laughable but scary. Many will follow their advice.
The best thing that can happen for Mums and Dads or most of us for that matter is lessons learned the hard way, those who learn to do their own research and not totally rely on others will do fine if they stick at it and not treat the market as a race meeting. They are more often than not their own worst enemy unfortunately..
Despite repeated warnings of variious scams people still fall victim to them in considerable numbers. At some point people have to take responsibility for themselves and not blame others, its a pity many learn that the hard way but if they do learn from the experience they will be stronger for it.
Greed unfortunately is behind most of it for both scammers and victims, I have no idea how you deal with that, its a powerful force..its why lotteries and race meetings are so popular, potentially easy money ..
Cheers Whisky
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