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Never touted individual stocks,” says Raghuram Rajan, warning against fraudulent videos purporting to offer his financial advice

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“Never touted individual stocks,” says Raghuram Rajan, warning against fraudulent videos purporting to offer his financial advice.

On Monday, Raghuram Rajan, the former governor of the Reserve Bank of India (RBI), issued a warning regarding phony videos that are purporting to show him offering investment advice on various social media platforms. Additionally, he advised investors to ignore these fictitious videos in which he promoted particular stocks and investments.

Renowned economist Rajan clarified that he has never recommended individual stocks to the public and does not offer investment advice to them.
Raghuram Rajan wrote the following on LinkedIn: “I am aware that there are videos of me on different social media platforms claiming to offer advice on investing, particularly in individual stocks. The culprits behind these should be reported to the appropriate authorities since they are fraudulent. I have never promoted individual stocks and I do not offer financial advice to the general public.”

Generally, investors are better off holding diversified portfolios, according to Raghuram Rajan, who cautioned against the risks associated with investing in specific stocks without proper analysis.

He went on to say, “Everyone has different financial needs and risk tolerance.”

Moreover, investing in individual stocks or stock options is usually less advantageous for investors than holding diversified portfolios of bonds, stocks, and bank deposits (through mutual funds and exchange-traded funds, or ETFs). The latter will probably leave you much poorer even though you might get really lucky and strike it rich. Kindly ignore any videos I make where I promote particular investments,” he said.

Rajan held the position of Reserve Bank of India governor for 23 years. At the University of Chicago Booth School of Business, he currently holds the position of distinguished professor.

Raghuram Rajan’s post was shared on LinkedIn on June 24. Since then, it has received a lot of likes and comments from users.

In an interview earlier this week, Raghuram Rajan stated that for millions of educated young people to have access to decent jobs over the next few decades, the Indian economy must expand by roughly 9–10% annually.

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Ahmed Mainul

My self Ahmed Mainul Mondal, and I'm the founder of the hospitality career profile website. I'm writing blogs and news posts as per user preferences.

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