I'm not blaming or seeking sympathy. Just stating a fact.When I hear about investors losing a lot with failed investments such as Westpoint, Storm, recent CBA debacle, I must say that I don't have a lot of sympathy for these people.
No one forces them to invest. When I used to attend "property investment" seminars, I enjoyed watching their high pressure sales tactics (its quite entertaining), took their pens and ate their food, drank their drinks but left quickly at the end with my personal assurances that I would think about their sales pitch. The people who do invest do so for the perceived reward and driven by their own greed.
All investments are a risk and whether I take the advice of a paid financial advisor or do it myself, I carry the final responsibility. I don't think it is reasonable to be happy with the advisor only if winning and then suing them when losing. Otherwise, it is best to leave the millions in a term deposit.
Peter put me onto property investment. That has earned me far more than my shares in his company lost.