Greed - Our Worst Enemy

profitlister · #1 12-04-2006, 04:46 PM

To fully understand patterns in the hyip world we need to take a closer look at one emotion. GREED!

This one emotion is what causes both investors and program admins to make mistakes and is also causing the hyip arena to transition from controlled investing to frenzied gambling.

Greed: An excessive desire to acquire or possess more than what one needs or deserves, especially with respect to material wealth.

Greed causes many mistakes made by investors such as:

- piling all their money in one program - when a program pays nicely on your first couple of spends it is very tempting to move money from other programs into the paying one. The trick is to make an agreement with yourself about how you will manage your portfolio before you start!

- not withdrawing at least some of the interest - it's so neat to see your interest earn interest that you completely forget about the fact that none of the money is yours yet. Even if you like to compound make sure you take out at least some of your interest after each period.

- blindly following someones recommendation - when someone says you can double your money in 10 days and you refuse to do any research on the project yourself, it's your money that will be lost. Take even a few minutes and check the monitors, forums, or even google the site name to see what comes up.

- focusing on 10%+ a day programs - there is a limit to even what a well designed ponzi can generate in interest for its paid members. Increasing the percentage decreases the lifespan, pure and simple. It's ok to play with the high interest programs but just balance with some longer term also.

Greed causes the early failure of many well designed programs because:

- the admin simply being a scammer and not paying at all - easily the worst case of greed because nobody wins. No investors make money and the admin makes very little money before everyone realizes it's a scam. Unfortunately cost to start a scam such as this could be less than $20.00

- the admin paying just long enough to get that one big spend - this is only one step better than the first one. At least some investors make money. The unfortunate thing is that the 'big spend' is getting smaller so this type of program doesn't last very long either.

- the admin changing their own rules midway through the project - even though things are going well the admin can see that more money can be made and they change the plan accordingly. When you see these changes it is easy to spot the real meaning behind them.

You can control your greed and not allow the greedy program admin to affect you as much. Most of the tips are found in our Common Mistake document but you can also follow the Investor Strategy document for more ways to safely manage your portfolio.

Side Note: If you get a chance find and watch the movie Greed. It's a 1924 silent film (and long) but well worth every minute.

Alex

**Ryz** · #2 12-04-2006, 08:16 PM

This is pretty good, and important post.

Newbies, heed the warning!

theysayjump · #3 12-05-2006, 12:56 AM

Yeah, agreed. Awsome post man. Noobies be-aware!

Now I have mixed feelings about leaving hyips a while ago and focusing more on gpt sites such as the one in my signature. Earnings aren't in the thousands, but more than a few hundred for easy work without the risk is my kind of game

worryabout · #4 12-05-2006, 05:56 AM

Just remember someone is more greedy than you---scammer.

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**Ryz** · #6 12-05-2006, 06:38 AM

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ammoun · #7 12-05-2006, 11:58 AM

Hey Alex ... did you write it your self ????
Nice one

profitlister · #8 12-05-2006, 03:20 PM

Thanks ammoun, wrote it myself. Also personally experienced all four of the investor greeds myself! Takes a lot of discipline to not fall for them even these days.

Alex

kthomas · #9 12-06-2006, 01:02 AM

I agree that greed can make a person make all those mistakes, but so can desperation. Many times a person invests in hyips because he needs the cash it can provide. Unfortunately, this is just the type of person who should not be investing in hyips at all, because they cannot afford to lose it if they do lose it. But many of those investing are just grabbing at straws trying to improve their money situation.

And some make those mistakes because they like to gamble, increase the stakes, etc. It's exciting for them. Things like "double or nothing" really give them a rush!

kthomas

profitlister · #10 12-06-2006, 01:28 AM

Quote:

Originally Posted by kthomas

And some make those mistakes because they like to gamble, increase the stakes, etc. It's exciting for them. Things like "double or nothing" really give them a rush!
kthomas

Good perspective kt, someone throwing all the gold into one program is the same as throwing all the chips onto one number in roulette. Is it greed or just going for the thrill, I suppose the truth is in the eye of the beholder.

They say that some play even for the thrill of the loss but can't say I get much of a zing when I see my money disappear.

Alex