Tips to Protect Yourself from Fraud

Since I was profiled in the Daily Mail and News.com.au, I've been asked what advice I could give people to avoid becoming a victim of a fraud scheme. Here they are:

Remember, salesmen have a job and that's to sell you something.
Prefer to meet salesmen in neutral territory like a Starbucks.
Never agree to anything over the phone.
Stick to what you know.
Diversify and safety is rule number one.
Use common sense. If it sounds too good to be true, it usually is.
If buying a financial product, invest in products from companies that have trillions of dollars in assets like Vanguard, Fidelity, Pimco, and BlackRock.
Stocks - stick to blue chip stocks that won't be going out of business tomorrow. For Australian investors, these would be ANZ, Commonwealth Bank, National Australia Bank, Westpac, Wesfarmers, Woolworths, Telstra, BHP Billiton, and Rio Tinto.
If you're looking to invest in a small cap like a junior miner, look at the track record of management. With small caps, you're always betting on management.
If buying a condo in a new building, check to see if the builder has the financial resources to actually build the building. A fancy showroom could just be a trap to get your money.

These are just a few. Please check back and I will keep updating my blog with new tips as they develop.