In the course of last week, I have gotten many calls asking me when I’ll post something on Sefteg so that they can make up their minds whether to invest or not to invest. While I personally do not pride myself as a top notch financial analyst, one thing I do is that I keep my nose very close to the ground and my ears, all over the place. I also rely on the readers on this site to provide the information that they have.
When I heard the returns that Sefteg was giving, I was perplexed! Well, not so badly though, I had heard of Risk Managers giving such returns as well, so it wasn’t too far fetched. They give 30% every month! What that means invariably is that in 4 months you already have your capital back. There is a little snag though, which I’ll try to elucidate on. For treasure link, it’s quite a simple model, you bring in your money for 12 weeks and they practically multiply it by 4 for you. 300% returns in 12 weeks, that’s truly a treasure link, but are they for real, for long, and who among them should rather win your money or your trust?
I’ll like to start by using a story I learnt not too long ago. It’s the story of the Elephant and the 6 blind men. This story has a lot of variations, but here is one that I love so much.
John Godfrey Saxe’s ( 1816-1887) version of the famous Indian legend,
It was six men of Indostan,
To learning much inclined,
Who went to see the Elephant
(Though all of them were blind),
That each by observation
Might satisfy his mind.
The First approach’d the Elephant,
And happening to fall
Against his broad and sturdy side,
At once began to bawl:
“God bless me! but the Elephant
Is very like a wall!”
The Second, feeling of the tusk,
Cried, -“Ho! what have we here
So very round and smooth and sharp?
To me ’tis mighty clear,
This wonder of an Elephant
Is very like a spear!”
The Third approach’d the animal,
And happening to take
The squirming trunk within his hands,
Thus boldly up and spake:
“I see,” -quoth he- “the Elephant
Is very like a snake!”
The Fourth reached out an eager hand,
And felt about the knee:
“What most this wondrous beast is like
Is mighty plain,” -quoth he,-
“‘Tis clear enough the Elephant
Is very like a tree!”
The Fifth, who chanced to touch the ear,
Said- “E’en the blindest man
Can tell what this resembles most;
Deny the fact who can,
This marvel of an Elephant
Is very like a fan!”
The Sixth no sooner had begun
About the beast to grope,
Then, seizing on the swinging tail
That fell within his scope,
“I see,” -quoth he,- “the Elephant
Is very like a rope!”
And so these men of Indostan
Disputed loud and long,
Each in his own opinion
Exceeding stiff and strong,
Though each was partly in the right,
And all were in the wrong!
So, oft in theologic wars
The disputants, I ween,
Rail on in utter ignorance
Of what each other mean;
And prate about an Elephant
Not one of them has seen!
What should the blind men have done? They should have listened to each others perspectives, put it all together, and get a fuller picture of the elephant like the one above. We all look at things from different angles, I’m about to share mine, feel absolutely free to share yours as well. When we bring it all together, it gives a fuller picture.
Plus: 1)Sefteg allows you to invest as small as N50,000 and promises you 15,000 per month (30%). If you are willing to delay your gratification and collect returns on a quarterly basis, they give you returns equal to 100% every quarter, and more if you don’t mind collecting after a longer period. 2) They seem to care about your next of kin, so they ask you to submit the passport and name, at least, if anything happens to you, someone can still claim the funds. 3) They pay you 5% for referring people to them (remember to mention my name oh :)) 4) There is an extra bonus for investing more than N300,000 with them, you get to earn divided after each year if the year was really good.
Minus: 1) They say they are into local and foreign shares and diamonds, that sounds a bit spooky. Which foreign shares guarantees you so much? Loads? 2) Their office looks like they haven’t started using the money, but that’s not a problem, few of these schemes have good looking offices. 3) I hear your capital expires after 2yrs. You first forget your money for 2yrs only never to get the actual capital back. This is also not so bad, it means your money returns 620% in 2yrs and not 720%. 4) Sounds too good to be true and not sustainable. Why not offer less? If they offered 15% won’t we still be interested? Why 30%? It looks to me like a hunt for the greedy. 5) I don’t know anybody who is doing it, or has recovered his/her money in full, if you have, pls speak up.
General Gist: Their office is at 10 Abibu Oki Street. Leventis Building Suite 05, Ground Floor Lagos Island. They can be reached at email@example.com
My Personal View: If you have some money you won’t miss, you can try this. It sure won’t hurt to have 50k somewhere to fund your parents account, and if it stops to work or doesn’t you know you can afford to miss it.
Plus: 1) If all you have is 9,400 you can start, this seems the lowest as of today. 2) You don’t need to worry about your money for 1yr, it’s just 12weeks of sleepless nights 😉 3) It’s almost 300% returns in 12 weeks, the only thing that currently beats that is Canadian diamonds, and that’s MLM (i.e it comes with some effort). 4) If you can afford to loose N30,000, about 10 of you can combine together to make part with 100k+ each in 12weeks. 5) They are into the popular oil and gas biz.
Minus: 1) My first attempt at cracking these numbers made me feel they were into some kind of pyramid scheme – it’s rosy for the guys on top (the first to try it) and the base keeps getting wider, until it bursts. 2) Why aren’t they using the banks, I understand the problem of collateral at the beginning of every business, but what about now? 3) Looks like it is time bound, how long can this be sustained for. What will the objective of this be?
General Gist: Their office is at 29 Airport Road Lagos, their head office is in Ibadan. The number of slots, investment, returns are shown in order below.
7 9,400 30,000
15 19,000 70,000
21 26,200 100,000
31 38,200 150,000
41 50,200 200,000
63 76,600 310,000
127 153,400 630,000
255 307,000 1,270,000
511 617,200 2,550,000
1023 1,228,600 5,110,000
2047 2,457,000 10,230,000
My Personal View: If you must do this, do it with money you won’t miss, partner with a few friends, make up you mind not to get hooked, set a target and stop on target. These type of things if they work will increase your cash flow, but not wealth. Wealth takes discipline and consistency. That’s available at GFS 🙂 (What do you think, I can sell what I believe in too now, abi?)
I hereby declare the floor open for the other “blind men” and of course ladies. Let’s pull our thoughts and research together, and lets make some money 🙂