My wife and I are all about investing in BRIC countries and a friend suggested we buy Singh Gill Lloyd (SGLL) shares shortly after their IPO, in '05. It was a suggestion that we acted upon and bought upwards of 10, 000 Singh Gill Lloyd shares from our stockbroker. He expressed his concern about investing in the company, however, we trusted our friend throughly.
From watching the Singh Gill Lloyd shares over the past 5 years, we noticed an odd trend which couldn't be explained with reason or logic. Each year there seemed to be a surge in stock prices in a short period of time, followed by a rash of bulk sales of the Singh Gill Lloyd shares. This happened almost clockwork and we wondered if there was someone trying to fix the market somewhere overseas with a pump and dump scheme.
We realize the India stock market isn't as regulated as ours, and therefore we think there is something awry going on with the Singh Gill Lloyd shares.
I guess I wanted to post this and give people warning about the shady business deals of Singh Gill Lloyd and to stay away from their shares. I'm taking my money out of them and putting them into deferred annuities.
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