PAY close attention to the following telephonic conversation between a client and me.

The background: my client was excited about a piece of information he read in the newspaper. If he invested Rs 1,25,000, today, in a policy by a leading insurance company, he would make Rs 1 crore (Rs 1,00,00,000) in 20 years!

Me: "Something's wrong. Please check the figures."
Client: "No, no, this is a fact -- I am holding the papers in my hand!"

Me: "Have you written out a cheque?"
Client: "Well, I plan to. The agent's standing next to me, and I have my cheque book open. But I thought of double checking with you, first."

Me: "Before signing that cheque, please fax me all the papers. I will revert as soon as possible."
Client: "Okay."

I checked the papers as soon as he faxed them to me. Next, I called up my client and the conversation took a different turn.

Read: What stock brokers don't tell you

Photograph: Monika Graff/Getty

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e-mail: Kartik Jhaveri

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