Many fintech platforms lack financial literacy!

We see on many fintech platforms that experts give price targets of traded securities on the exchanges. The accuracy of these trading targets is highly debatable, and they more often fail. They are often guesstimates than accurate projections. Still targets with smaller tenures have a slight probability of getting right due to smaller tracking error. However longer targets of 1 year & above often tend to go wrong and we often tend to forget when these targets were given to us in the first place. The harsh truth about fintech platform’s consumers is that they lack the financial literacy required to navigate the complex world of investments and personal finance. This has nothing to do with educational or socio-economic background. Their desire for quick profits often leads to poor investment decisions which results in significant losses. So, SEBI has to strike a fine balance between allowing them to make their own financial decisions but also protect them from scam platforms where they fall prey to fraud tips. This is where genuine & trusted platforms like StockGro have a huge role to play in promoting financial literacy.