Who will guard the guards?
A couple of years ago, Sachin, an IT professional and new Trader from Kolkata reached out to me on phone with a specific problem..
He wanted to learn a branch of Technical Analysis in order to become an independent Trader.
And one of the people he reached out to that end is a trainer from Mumbai (let’s call him ‘A’ ) who gave him a quote for a training program for Rs 80000 spread over two days.
Sachin decided to do some due diligence, try and shop around for comparable quotes and services. After a couple of weeks, he came back to A and told him that since he has just returned from the US and wanted to start trading from home in Kolkata, he wanted to talk about a discount.
Here is where it get stranger. When told that Sachin had returned from the US, the price of the training program had increased to Rs 1,20,000 for the same two day duration. Inexplicable but true.
Apparently, the Trainer had told Sachin that he was transparent, his life was an open book. Sachin however felt that the book was based on fiction.
This is when Sachin reached out and asked for help.
A friend sent me this link published on a blog where the complainant had paid over a Lakh of rupees to an advisory for an ‘elite advisory service’, paid Rs 70000 for a quarter and felt cheated that he did not get his money’s value. He gives more information about his experience here..
There have been several more incidents where people looking to trade independently search for trainers offering specific services and then were found to be lacking.
To cut long stories short, what appears to be lacking could be one important aspect.
We feel there is a market out there for us to deep dive into services of all kinds, find out if what is claimed is what is offered.
We feel there is a sizeable percentage of the trading and investing population in India (and possibly abroad) who need verified data about SLAs, deliverables, and most importantly, Integrity of the service provider.
What makes us competent to perform this activity?
Well, having been in the markets for over 12 years, experience working as an white hat ethical hacker for banks in Curacao and Bermuda would be a great start.