Forum Extracts

from Channel News Asia forum pages

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FreelyClub


Posts: 8
Registered: 19-1-2006
posted on 19-1-2006 at 17:11
No more Freely Strategies for me!

Dear Traders

I am here to swear that NO MORE of Dr Clemen Chiang Trading Strategies for me!

Lost about $2K when all students trade with Dr Clemen Chiang on APPL Earning last year Oct 12, when he position CALL then convert to a Bear Call which caused me to Lost more money.

And yesterday Dr Clemen Chiang position a Call 85 and AAPL gap down $3 today. Well again i lost about $1K.

Overall no one can claim “Explosive Profits” Best Investment Finanical Tools” or etc…

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nightfalc

Joined: 08 Jun 2008
Posts: 21
PostPosted: Sun Aug 03, 2008 12:10 am Post subject: Close down of link?

Looks like where I was sharing my experience and hoping to warn the public about Freely and Clemen Chiang was shut down! That is the conversation link TradingNewbie provided.

Anyway, my view as an ex student of freely is simple…

a) Clemen Chiang talks about Explosive Profits during Earnings because of Gapping stock prices? ABSOLUTE NONSENSE! The high percentages are about as rare as Clemen having any integrity, considering he got his PhD from a degree mill (Preston) which has a name sounding like Princeton so that people will be suckered into him being an individual from an ivy league school? Especially in Taiwan, his “hope market”. These gaps just look amazing on charts with prices suddenly “jumping” and it sure makes good sales talk!

b) Clemen does not trade for a living. I challenged him to share his trades and the next thing I know, I was kicked out of their mailing group. what a wonderful amazing teacher right? if you ask for guidance you are kicked away.

c) Analyze those trades he shares, they DO NOT FOLLOW FREELY!!!!!! People share them and thank him in those emails only because he will psycho his students to do that as only then will “the market bless you” and he will say that those students who have not appreciated his teachings that “the market will curse them”. And if those students who lose money, he will talk in this high and mighty voice… “you did not follow the rules.” abosluteeeeeeee…. crapppppppp….. Well clemen, I am sure in life you will be cursed soon too!

Conclusion…. Freely is a waste of time & money and there is nothing to learn there. Their gap trading around earnings, is a coin toss. Some traders even say it is nonsense shoot. =) Caveat emptor and hope I can help save some of you from wasting your hard earned savings.

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XmenTrader

Joined: 18 Jul 2008
Posts: 5
PostPosted: Fri Jul 18, 2008 2:58 pm Post subject:

I am newbie here.

From this forums that I’ve gone through, seems there have been alot of negative comments on Options seminar like Freely and Mirriam.
From the preview that I’ve attended, both of them provide after course support through email and refresher course.

I have read that there are alot of their students had failed. From general view, most newbie that got into trading, 90% will eventually fail. There is definitely truth in it. In the Freely’s preview, I had asked a few people attending the preview and all of them said that they have failed before and now are looking for another course that could help them in their trading.

Yes, the talks from Clemen and Mirriam is very motivating and feels that using their methods, you can easily make money from the market. But, if that is so, why still many of their students failed??
That’s why until now, I’ve not sign up with them.

I believe there are definitely successful options trader in Singapore. If there is anyone who could provide handholding sessions, I believe his/her students will definitely be successful as them, but of course, they will need to prove that they are successful.

If there are such person, I believe alot of newbies like me would like to be their students… Smile

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MPT

Joined: 29 May 2006
Posts: 35
PostPosted: Wed Jul 16, 2008 2:44 pm Post subject:

Hi TradingNewbie,

Seems you are very enthusiastic in jumping into the World of Options trading. Some advises if you intend to sign up any of the course out there:

Ask if they provide mentorships or after course support. Minimum must have the followings:
a. If you are really a newbie, they must teach you how to setup an account and show you how to execute some trades.

b. They must teach you how to setup charts and all indicators used. After that they must teach you how to enter/exit a trade based on the charts input. I have seen alot of people whom do not really how to use the indicators to enter/exit a trade. That is disaster.

c. Will guide you into managing a BIG losing trade, so either you could minimize your lost or even be slightly profitable. I give you an example, I have a friend who bought a CALL on GOOGLE and he forgotten about expiry Friday. His CALL was ITM and he was assigned at US$450. Imagine he need to forked out US$45,000 to buy the shares. Most newbie get struck dumbed and don’t know what to do.

Sounds stupid eh.. but this things always happened to newbie…

d. Provide at least 3 months email support for you to post your losing trades together with your charts and options trades so that the guru could advise why/what went wrong. This is how you learn. You learned by mistakes but you need someone to correct you.
If there is no guru to do that, you will continue to make mistakes after mistakes and worst without even realising why and what are your mistakes. At the end, you will be the 90% that failed and if your enthusiasm is still there, you will find another guru to teach you. Then this cycles goes on….

Personally, you can forget about Freely and Miriam’s courses.
They don’t have any of above..

Hopefully someone out there do provide this kind of mentorships, then you can really consider attending his/her course.

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TradingNewbie

Joined: 15 Jun 2008
Posts: 29
PostPosted: Wed Jul 16, 2008 1:41 pm Post subject:

So sad, another victim. Sad [quote]

Hello Derick69? are you referring to me as a ‘victim’? Don’t get me wrong, but are you advising me not to attend the course? As i’ve said, i value feedbacks and will deeply appreciate yours before I thread into the world of trading.

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IronCondor

Joined: 10 Jul 2008
Posts: 8
PostPosted: Thu Jul 10, 2008 7:53 pm Post subject:

You are right Contrarian.
I, together with 5 friends attending his seminar after hearing his very impressive preview. Yes he over-promised and trading using his techniques really makes u lose alot of sleep. I don’t mind if it makes good money but results can be really inconsistent. Worst, totally no after-course support at all. At the end, all six of us failed quite badly. Sad.

Juz share my experience so that people don’t get tricked into losing their hard earned money and creating a false expectation by this marketeers…

Nope, no after course support. Emails only to show you those people who have posted winning trades. If you asked a question, mostly the reply is not helpful at all ie.. ‘Refer to your trading manual’ or ‘why did you choose this stock to play’

Best part, you have to setup your own Trading Account and try and error how to execute a trade. If executed wrongly ie. you sell instead of buy or buy CALL instead of PUT, then you will start to panic.
You see, promise to answer doesn’t meant it’s a useful solution to solve your trading problem.

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MPT

Joined: 29 May 2006
Posts: 35
PostPosted: Thu Jul 10, 2008 4:28 pm Post subject: Re: Freely Option Course

I’m one of his earliest batch, if I’m not wrong, batch 8.
Yes, Clemen can talk and sell very well. I believe he has learned NLP before from his good friend Adam Khoo.

During the course, yes, I’m excited, positive and very energetic because he is a good talker (someone like Anthony Robbins) and with my strong background on Futures Trading, I thought that making money in Options is easy.

But then when it comes to Live Trading, it’s another story.
For 12 months, I’m struggling and barely profitable. Honestly his methods (Gapping, Most Powerful Strategies on Planet Earth etc..) doesn’t really work and worst, it takes up alot of your time. And let me say this again and again since I’ve mentioned it in other forum topics, there is no mentorship support, so you are on your own.
Yes, you do get emails showing you how others have been successful but the conditions is only post winning trades.

Bottomline, waste money, waste time and I know majority has failed!!
Those who is successful, I’m not sure whether they are consistent because of hearing few good posting from them, then no more news…

Fortunately, I manage to learn from a close friend of mine with good mentorship, and that’s really make a hell lots of difference. And to put the record straight, I’m not teaching cos I’ve retire in Malaysia…

Trade safe…

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contrarian03

Joined: 02 Jul 2008
Posts: 2
PostPosted: Thu Jul 03, 2008 11:43 pm Post subject:

I’m a graduate from Freely and have been trading actively after the course with roller coaster result for almost a year (mostly down, Sad). I would like to share my experience so that those who wish to sign up for the course can know what to expect.

1) Dr Chiang is a good speaker..however, i found that he over promise and under deliver. Alot of people don’t even know how to open a brokerage acct after the course.. not to mention the machanism behind his strategy. Luckily, i’m smart enuf to tape down the whole seminar (althought it’s prohibited). He want people to subscibe to his freely software and hence be dependent on it.

2) His strategy don’t work in a bearish market like now. Alot of time u may predict correctly a company earning but it’s stock price may still go the other direction causing u to incur huge losses. This is because of the market setiment and the expectation of the institution. Even the salvaging strategy that he taught us is not consistent.. of which a few time i apply after i made a wrong decision.. i incur even greater losses.

3) U will loss a lot of sleep using his strategy. The automation that he taught us is not useful at all. As the market is volatile and by automating to buy the contract at the last 15( mins of closing, u actually expose yourself to higher risk as u may be buying over price and out of the range strike price. So i often have to wake up in the middle of the night to place my trade.

4) Very ofter u will be paying for overprice contract using his strategy. Because his strategy is base on playing earning annoucement by companies. And it’s not something new.. alot of people know that the earning annoucement will very often cause the stock price to gap up / down massively. Hence, a lot of trader already positioned themselve either buying calls or puts.. hence increasing the volatility which in turn inflate the contract price. Very often, the company u bought have to gap up / down at least $2 in order to see some profit.. and it’s not easy to find company that move that much.

5) His strategy are more suitable for those who have hugh acct level. Because those good companies like AAPL, RIMM, MA, V etc have option contract that are very expensive and very often people have to break the 5% rule in order to buy just 1 contract.. which put them in higher risk.

6) Dr Chiang doesn’t do a good job in ensuring that his students understand and he doesn’t answer questions that some students ask that point to the weakness of his strategy. He want students to spend more money learning from him through some packages he offer such as live trading with him, protege, discount for student who want to re sit the seminar etc. Which i find is not ethical at all.

7) However, on a lighter side. His strategy can really make u alot of $ if u are right in the direction of the stock price. My highest record is like 300%+ per trade. But this don’t come very often..especially it’s very hard to play in this kind of market now. So i guess his strategy will work better in a bullish market.

I hope my experience can help to shed some light to those who are tempting to join his seminar. Good luck.

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Tfuad

Joined: 15 Dec 2007
Posts: 83
Location:
PostPosted: Thu Jul 03, 2008 11:31 am Post subject: Re: Freely Option Course

Hi Traders!

When attending Previews for Trading Seminars - Options, Forex, Futures etc. - there is one Question that you can ask that will sort out the Traders from the Marketers.

The Question is phrased somewhat like a contract term and it goes like this:-

“If I pay you $xxx for your Trading Seminar, do you promise:-

(i) Not to use the Seminar to attempt to Sell me another Seminar, i.e. an Advanced Course, Hand Holding Sessions, Protege Program, software or any other such item, including subscription to newsletters, websites and Memeber’s Areas;-

(ii) That you will teach me exactly what you promised at your Preview without me having to purchase anything further from you or your agents and;-

(iii) Do you undertake to give me as much after sales support as I need, within reason, so that I am able to apply the techniques and strategies taught in your Seminar without any additional costs?”

If the answer to the above 3 questions is “Yes” then have the Guru commit it to paper.

If the answer is “No” then it is likely that the Guru is a Marketer - i.e. he/she simply wants to up sell you more products at the Seminar.

Examples of Up Sell Gurus are “Freely” (Clemen Chiang, who is now managed by a Seminar company called Success Resources) and Kishore M.

You need to be aware of this before you pay.

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derick69

Joined: 29 Jan 2008
Posts: 23
Location: Singapore

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PostPosted: Wed Jun 25, 2008 1:38 pm Post subject: Re: Freely Option Course

Yes, I think so. You can go for his preview. He will show you his live statement.

Joined: 14 Jul 2003
Posts: 642
Location:

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PostPosted: Tue Jun 24, 2008 4:13 pm Post subject: Re: Freely Option Course

So does this michael woo trade and is he profitable?


Joined: 29 Jan 2008
Posts: 23
Location: Singapore

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PostPosted: Tue Jun 24, 2008 1:54 pm Post subject: Re: Freely Option Course

Hi Tradingnewbies, do not waste your time and money. I have many friends attended his course but all failed and lost tons of money. From our experience and what we know, most of the gurus DO NOT TRADE. they can make tons of money from teaching. Why take the risk ? I went to his preview earlier, HE IS A GOOD “SPEAKER”. if you dare, ask him to show you his trade record. So far as we know, none of the gurus dare besides Michael Woo.
nutcase

Joined: 15 Jul 2007
Posts: 103

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PostPosted: Mon May 12, 2008 8:20 pm Post subject: Re: Freely Option Course

Don’t waste your time & money on this fellow, worst course I ever attended! His methods are like gambling!!!

nightfalc

Joined: 08 Jun 2008
Posts: 21
PostPosted: Thu Aug 14, 2008 2:13 pm Post subject: Trading is an experience game

My own experience is that trading is an experience game where one has to also do a lot of reading. The only thing that can be really taught is how it works! Those that claim explosive profits or millions is simple plain bull****.

Good to hear that Sentosa Cove has loss 30%. May it lose even more!!!! Everywhere I go now I curse Clemen. Clemen Chiang has money but he will be just another TT Durai. I believe his child will be “so proud” to have him as a father. HAHAHAHA. I will even tell my child to spit at his child coz of his father if I they cross paths.

Clemen Chiang, if you ever read this, I hope one day you will learn the importance of integrity over money.

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nightfalc

Joined: 08 Jun 2008
Posts: 21
PostPosted: Mon Sep 01, 2008 7:32 pm Post subject: more on Clemen…

Dear Cow & Solomen,

From a none accredited university => Innocent
From a university that prints academic certificates for a fee => Fraud

I think Preston is more than just a none accredited university…
In 2001, Preston falsely claimed that it employed faculty, two of who had never heard of the school… (This happened before Clemen got his PhD, so Clemen you cannot feign innocence.)

Some organizations even classify Preston as a “Fraudulent or Substandard Institution”.

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Dear Space5hip,

After the course I still tried Freely. Being the novice trader, his concepts were logical. It was after I traded a while and started to pay attention to what others were doing that I realized I had been scammed. So I never really complained to CASE as I felt that there was not much substance in my complaint. Now… with him admitting that he rushed to get his PhD to “help his business”, things are a bit different.

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nightfalc

Joined: 08 Jun 2008
Posts: 21
PostPosted: Sun Aug 31, 2008 11:40 pm Post subject: Clemen Chiang with Scum Blood?

Hi… this is what I uncovered at stomp…

Clemen was asked to step down at an EGM from being a president of one of the committees? He had misused society funds. Scum runs in his blood. Saw a thread once that his secondary school has even more to his interesting history…

Learning Spree… juz try to practice medicine by faking your license? I guarantee you will be jailed. I believe the same would be for a pilot as people’s lives are at stake. These are probably covered by statute.

As for the other less “serious” professions, trying to practice without proper training could make you open to be sued under Tort of Deceit. Do visit wikipedia to get an idea how serious it is.

And thanx for getting me to look into it… hmmm… maybe we can even get more than just the school fees back! Since the Tort of Deceit waives the need for forseeability to damage… Let’s take away his Sentosa Cove home and let him build it back up with “Freely Most Powerful Strategy On Planet Earth” puiiiiiiiiiii…

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hoho1

Joined: 16 Jul 2008
Posts: 19
Location: hoholand

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PostPosted: Sun Aug 31, 2008 2:48 pm Post subject:

i think someone who can say the above is really a basket case…and i think he really

deserves the PHD title, i.e. Permanent Head Damage!

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bigboss

Joined: 04 Jun 2007
Posts: 49
PostPosted: Sun Aug 31, 2008 2:34 pm Post subject:

He actually said that?! Are you sure?

If so, I am very shocked.


ZhenYuBeng

Joined: 31 Aug 2008
Posts: 7
PostPosted: Sun Aug 31, 2008 2:16 pm Post subject:

Amazing!
I attended his preview talk also and he mentioned that his Sentosa bungalow had a huge Cross, the height of his bungalow. He mentioned that this is for the salvation of investors who jumped off the high rise condo in Sentosa and who will be able to see the hugh cross in his bungalow before they hit the ground.
I did not understand the meaning of this statement then, but I think I do now.

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frustrated76

Joined: 04 Mar 2008
Posts: 7

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PostPosted: Sun Aug 31, 2008 10:17 am Post subject: Re: Taking Clemen Down

I still remember when he holds his seminar, he keeps on using the PHD thesis to sell his programme, saying that his thesis is first of a kind, and the university professors are impressed, bla bla bla….

chowahbeng83

Joined: 08 Dec 2007
Posts: 177
PostPosted: Sun Aug 31, 2008 9:31 am Post subject:

i think clemen is fully aware that he is buying a PHD from a degree mill and he is lying.

otherwise, you really have to suspect his sense of judgment, and the value of his courses….too bad for those who are already suckered. hope you get at least some of your money back.

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nightfalc

Joined: 08 Jun 2008
Posts: 21
PostPosted: Sun Aug 31, 2008 12:17 am Post subject: Clemen Chiang Act Blurr?

I think Clemen is really starting to think the world is filled with suckers. He found Preston through the internet and did not know it was a degree mill? Dare he say that his fake PhD was not misleading people?

So what if he submitted a thesis but yet it is reviewed by a bunch of nobody? Does submission of a thesis suffice to gain belief that a doctorate is valid? Clemen, your sheepish replies might just help you a bit but if it can be constructed that your intention to gain a PhD was to mislead the public into thinking that your “school” was credible, then I think you just might be in trouble.

Anyway, good luck in getting your “new” PhD. You will realize that it is not going to be as easy as paying 18k.

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Levin

Joined: 01 Mar 2006
Posts: 219
PostPosted: Sat Aug 30, 2008 6:53 pm Post subject:

MOE does not recognise any degrees lah. There is no list of accredited overseas universities

AFAIK. OK, went on to do some checking. Here’s the FAQ from MOE:

http://www.moe.gov.sg/education/post-secondary/faqs/

First question already answer that MOE does not have a list of accredited overseas

universities. Employer to decide whether they want to recognise the degrees.

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nightfalc

Joined: 08 Jun 2008
Posts: 21
PostPosted: Sat Aug 30, 2008 1:59 pm Post subject: Taking Clemen Down

Dear all,

I was from the 55th Batch and seeing now that the article has finally brought to light his fake credentials my basic legal knowledge tells me that we might be able to take action against him.

Possible actions are:
1) If we can demonstrate that we were buying his PhD knowledge and credentials hence forming a condition of the contract, this will make the contract void and hence he will have to refund.

2) Misrepresentation as students were signing up his course thinking that he did did research into the subject of options and had been given a PhD in recognition that it was work worthy of such a title.

This is not straight forward and I am sure Clemen Chiang would have his bases covered. It is going to depend on case law and the court’s interpretation whether using a degree from an unaccredited institution can be labelled as “fraud”.

Anyway, those who are keen can try this:

1) Let’s all submit applications to CASE demanding our money back and see what can be done.
2) Alert all your Freely mates of this and get them to follow suit.
3) Spread the word around on the internet, in conversations of the intention to sue Clemen for a refund and hopefully some ideas emerge. Maybe even a legal professional might pop up somewhere who is willing to represent us.
4) If there is any individual with some idea on how to claim for a refund, do share it in whatever manner possible.
5) Let the public know about Clemen more and more and more so that there are no more victims.

I understand that he is a “family man” but picture this: thousands of students spending late nights on the internet trying to employ Freely, sacrificing work & family time persuing a dream promised by Clemen. As for Clemen spending every nite sitting on the porch looking out of his 6 million dollar Sentosa Cove home saying “I love Freely”.

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chowahbeng83

Joined: 08 Dec 2007
Posts: 177
PostPosted: Fri Aug 29, 2008 10:48 pm Post subject:

How come he claimed to have paid $18,000 while other just paid a few hundreds? He made a $18,000 investment (not counting his time) and he didn’t even bother to check what kind of university he has enrolled in?

I find that incredible. You believe him?

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governor

Joined: 12 Nov 2005
Posts: 6207
PostPosted: Fri Aug 29, 2008 9:05 pm Post subject:

I think authority should clamp down on such practice with an intention to boost up cv to mislead and make

money out of it. I think the former student of his have a very strong case of getting back

their money if they file a class action. Just think about it…..if he would to tell you i have

only a ntu engineering degree only, would you sign up for his course?

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musicwhiz

Joined: 14 Jun 2005
Posts: 3768
Location: Singapore
PostPosted: Fri Aug 29, 2008 5:02 pm Post subject:

He has the gall to continue using “Dr” even when the Uni was found out to be not accredited ?

Simply amazing…… Confused

Where’s the integrity ?  Shocked

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Cerelia

Joined: 08 Dec 2006
Posts: 35
PostPosted: Fri Aug 29, 2008 4:57 pm Post subject:

Aug 29, 2008
At least 218 here have off-the-shelf degrees
By Sandra Davie
AT LEAST 218 people, mostly Singaporeans, are proudly flaunting degrees, MBAs and

doctorates from a dozen degree mills, including Preston University, Wisconsin International

University, Paramount University of Technology, Kennedy-Western University and

Rochville University.
This was uncovered by Straits Times checks on the Internet and trade publications, to find

out how widespread the use of bogus qualifications is here.

Most of them are males and predominantly businessmen, professional trainers, private

school lecturers and financial consultants.

The majority have basic diplomas and in some cases, degrees from bona fide universities,

but quote masters or PhDs from bogus institutions to bolster their credentials.

A few such as Expressions International founder Theresa Chew, who has a honorary

doctorate from Kennedy-Western University, and Mr George Quek, who has an honorary

business doctorate from the Wisconsin International University, add the words

Honoris Causa (Latin for a token of respect or honour) on their namecards, to indicate

that it is an honorary degree.

But worryingly, an increasingly long list of private school lecturers and financial consultants

openly cite their bought doctorates and masters’ degrees, in their curriculum vitae and client

pitches.

A typical example is Be-Mad, a company at Scotts Road, that trains human resource

professionals. Its chief executive officer ‘Dr’ David Ong Kah Seng and two of his associates,

‘Dr’ Ng Sin Keh and Mr Yeo Thiang Swee, have degrees from Rochville University, Preston

University and Atlantic International University, which are all commonly referred to as

diploma mills in the United States.

On its website, Be-Mad consultancy boasts that its long list of clients includes ministries,

banks and educational institutions.

Yet another two successful businessmen with questionable qualifications are options trading

expert ‘Dr’ Clemen Chiang, a Nanyang Technological University graduate, who runs courses

through Freely Business School at North Bridge Road and ‘Dr’ T. Chandroo who runs a chain

of 60 Montessori kindergartens here and abroad. Both of them have doctorates from

Preston University, classified as a degree mill in the US.

Why do these successful businessmen who have demonstrated expertise in an area resort

to using degrees from unaccredited institutions?

After all, resume detectives say such bogus degrees are a ‘ticking time bomb’, which may

burnish your CV for now, but sooner or later blow up in your face.

The Straits Times put the question to ‘Drs’ Ong, Chiang and Chandroo.

Mr Ong claimed that his alma mater Rochville University was a reputed one and claimed to

have worked on a thesis for 18 months on behavioural sciences.

Mr Chandroo’s secretary said he was ‘too busy’ to answer e-mails or calls from The Straits

Times over the past month.

Mr Chiang, known to be an astute entrepreneur who set up Freely Business School and is

widely quoted in the local press on options trading, admits that he was ‘not so smart’ when

he signed up for an online doctorate programme from Preston University a few years ago.

The NTU engineering graduate said he wanted to complete a PhD in extra quick time and

found out about Preston University through the Internet. And because it was listed as a

partner of a private school here licensed by the Education Ministry, he thought it was an

accredited institution.

He suggested a thesis topic on options trading which was accepted by the university faculty

in Wyoming, US. He researched the topic and submitted his thesis within 16 months and

was granted a PhD. It cost him all of S$18,000 in fees.

It was only later that he realised that Preston was not accredited in the US.

Mr Chiang sheepishly admits that he continues to use his doctorate as it helps to pave the

way in business. Besides, he reasons: ‘I did write a thesis for it.’

But he added: ‘But I am thinking of dropping my doctorate title altogether until I complete

the current PhD I am working on with the University of South Australia.’

.

Warren Buffett

Joined: 11 Sep 2007
Posts: 344
PostPosted: Fri Aug 29, 2008 2:31 pm Post subject:

Those who lose money after taking up his course,may want to ask for a refund or get lawyer to advice them.
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