Saturday, April 08, 2006

SensaTrust

I've been meaning to write something or at least share my thoughts on SensaTrust for the longest time, but never found the time nor the motivation to do it. Since this is pretty much a lull period for me, investment-wise, I thought why not strike another off my to-do list.

For those of you who don't know what SensaTrust is, it's actually an online investigatory company which basically does pretty indepth Due Dilligence (DD). What they do is basically verify information of online investments/programs, by meetings (phone or physical) and by checking with relevant agencies. They also do make checks that profits are generated the way they are claimed. To cut the long story short, their processes can be found on their website.

As far as I know (to date), none of the programs they have approved or recommended has fallen. In the High Yield Investment Program arena, that actually says quite abit. Anyway all these information can be easily found on the internet.

I kinda just want to share my own experience with SensaTrust. I heard of them indirectly via an ex-colleague/acquaintance somewhere in May 05. This ex-colleague was sent over from Japan for a short job stint and through our somewhat chicken and duck conversations (my Japanese sucks and likewise his English) he realised that I was dabbling with online programs. On his return to Japan, he emailed me a program that he participated in called MCAJ. I've not joined MCAJ due to the large entry level of $500 then. And it's currently closed to new members. Anyway my ex-colleague claims to have visited their setup in Tyoko (Shinjuku to be exact), unfortunately he's unable to tell if real trading was done. In fact I'm not even sure it's the same MCAJ that's recommended by SensaTrust then.

Being curious, I did a little searching for information, and SensaTrust came up. And since then I've been keeping a watchful eye of the programs recommended by them. And so far I've only joined one of their programs, and am comfortable with the level of DD done by them.

They are by no means perfect, but a good platform to start from when doing your own DD. I'm not advocating you join all their programs, or dive in head first. It's just highlighting the fact that SensaTrust has come a long way to build up a pretty solid reputation. As of now, no one knows if they are doing what they claim they are doing, but so far it's setting the standard for serious public programs to get certified by them.

As of this posting, MCAJ seems to have disappeared from SensaTrust's website. Since their forum is down and getting a reply from their contact form is harder than squeezing water from a stone, I'm just going to assume they removed it coz MCAJ is a private program, no longer accepting new members.

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