Raghuram Rajan: Former Reserve Bank of India Governor Raghuram Rajan has warned against fake claims being made in fake videos being circulated quoting him regarding investment advice. He has appealed to the investors not to pay attention to these fake videos giving advice on specific shares and investments. Raghuram Rajan said that he has never given investment advice to citizens nor has he ever promoted any stock.
Raghuram Rajan wrote on the social media platform LinkedIn, I am aware that the video made on me regarding investment advice in certain shares is available on different social media platforms which is completely fake. I also do not give investment related suggestions to any citizen nor have I ever promoted any stock. He has asked to complain about this to the institutions taking action.
Rajan said, every person has his own financial needs and risk taking ability. He said investors who hold a diversified portfolio like bank deposits, bonds, and stocks through mutual funds and ETFs are better off than investors who invest in a particular stock or stock options. He said, you may be extremely lucky and look rich, but more likely you will end up poorer by following the latter strategy. He has appealed not to pay attention to those videos in which he has been shown promoting a particular stock.
Raghuram Rajan has written this post on LinkedIn on 24 June 2024 itself. Many users have also commented on this post. A user Sankaran Raghunathan wrote, I also saw this video and I understood that it is fake. In his post, he disagreed with Raghuram Rajan’s statement that investors who do not buy specific stocks or options are better off and those who directly buy stocks or options become poorer. If a person directly buys equity stock after better training, he can make good profits. Raghunathan said, there is no need to be afraid of direct equity investment.
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