You did well..
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Cheers guys, appreciate the feedback.
It is really sad that this stuff is happening, particularly the shilling by Sharesies. They pushed out the glossy info through their platform and a bubbly young friend of mine who is super keen on getting into investing, was telling me about her investment in Greenfern with passion and hope for an amazing outcome.
The result of these situations just means more people disengaged with the capital markets and skeptical of the whole system.
I enjoyed reading your post, it is excellently researched. I tried giving you reputation for it but for whatever reason the site wouldn't let me. I remember receiving a couple emails from Sharesies about Greenfern and seeing popups on the website, which I didn't give much thought at the time.
I hope you were able to convince your friend to sell her shares in Greenfern before she lost too much money.
Cheers, yes she actually made a little money...
But thinking through how she made money, it would have been by selling to another person like herself. Zero sum game, where people are all just making money off other people with the insiders taking most of it.
Unlike a company creating a product or service that creates real new value to the economy and many people can benefit without it being at the expense of others.
Quite the research and write-up! Great effort.
All of it feels so depressingly predatory, yet somehow "legal"... vehicles created to feed on each other, all the while sucking in the unwary.
Excellent read, thank you for posting.
Fascinating. Thanks. Pity it has not been picked up by the media.
Pleased I didn't pursue the GreenFern "opportunity"...declined without knowing all of this, that's for sure.