Former RBI Governor Raghuram Rajan warns against fake videos of him recommending stocks
RBI) Governor Raghuram Rajan has cautioned investors against fake videos of him circulating on social media, giving investment tips, especially on individual stocks.
«I understand there are videos of me on various social media purporting to give advice on investing, especially in individual stocks. These are fake and the perpetrators should be reported to the relevant authorities. I do not give investment advice to the public, and have never touted individual stocks,» Rajan said.
Rajan, who is currently a Professor of Finance at The University of Chicago Booth School of Business said this in a LinkedIn post.
The former RBI governor also advised against investing directly in individual stocks or stock options saying that the danger of becoming a lot poorer is much more than people getting lucky and striking it rich. In his post, Rajan suggested investors to have a diversified portfolio of bank deposits, bonds, and stocks (through mutual funds and ETFs).
«Each individual has their own financial needs and risk appetite. Furthermore, investors are typically better off holding diversified portfolios of bank deposits, bonds, and stocks (through mutual funds and ETFs) rather than buying individual stocks or stock options. You may be extremely lucky and strike it rich, but more likely, you will be a lot poorer following the latter strategy. Please disregard all videos where I tout specific investments,» Rajan said.
Rajan is not the only victim of this malice. Earlier NSE had warned investors about fake videos of its
