The saying goes : you can fool some people all the time but you can’t fool all the people all the time. With this idea as a backdrop, I was appalled when I saw this piece of news article.
And it says there : 10000 people appeared at Tanah Merah Condo Show Flat. And within the article, it was stated that it occurred over a period of 2 days. Read on further and you will find that the journalist is referring to Chip Eng Seng’s development, Grandeur Park Residences. So the title of the article chosen by the journalist was intentional, in a sense, so as not to sound like he or she was endorsing the development.
Then read on further. It was nearly a complete endorsement of Grandeur.
But 10000 people visiting the showflat? I urge readers to think again. I see a distortion on the actual numbers that visited the showflat. Firstly, the showflat was small in land area. Secondly, by my calculations and some sources, it seems that the 10,000 visitor number may have been overhyped. And for obvious reasons. I have no proof of this but it seems that creating a facade of scarcity helps sales to get going. The real estate folks do that quite frequently. And think about it, 10000 people is one fifth the number of people in a fully packed football stadium. I find that quite frankly hard to believe. I really have my doubts on this one.
If you are interested, do google that article and give that article a read. The article was written with such a sales slant. I shook my head in diabelief as I read it. And I am still shaking my head.
Without a doubt, incentive caused bias is in part to blame for the poor reporting standards and general misinformation. In fact I was looking at another article to prove my point but it seems that the article has been edited altogether. When people need to sell, they will do anything to sell it. But on a personal note, we can’t blame them. They have to eat don’t they? They have families to feed don’t they? Do look kindly upon them but at the very least, be aware of what is happening.
I wrote about Chip Eng Seng recently and how investors should look upon Grandeur’s possible success as a milestone for Chip Eng Seng going forward. This is going to be one to monitor. You can take a read of my article : Do Not Buy Chip Eng Seng Just Yet.
You could also read that article from Straits Times here. Use your wisdom. See through the agenda. Feel the tone of the article.
And last but not least, don’t be the fool that got fooled. May all my readers be well and happy!
Read also some of my other articles:
Since psychology and behaviour play a huge role in becoming a good investor, I urge my readers to understand psychology and be aware of their reactions and though processes. Only then can one stand apart from the crowd.