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A gripping story if you are interested in investing in microfinance. It will cause you to make an about-face reconsideration of
on January 14, 2017
I have been doing research for a short 50 page treatise on microfinance. I have read two other books--a combined total of 700+ pages, and probably an even greater number of pages within various individually smaller PDF files scattered throughout the web. Further, because I am writing from the perspective of a retail investor hoping to invest in microfinance, I was also writing to dozens of advisors and Microfinance Investment Vehicles (mutual / hedge funds) asking various questions. I was beginning to notice that not only was no one able to answer a direct question about usury, but that almost no one cared. I was confused--isn't the point of microfinance to help the poor? Then I read this book by Hugh Sinclair.Now I understand! This IS a big, ongoing scandal within the industry. I am completely revising the viewpoint from which I had already written a rough draft. This book was eye-opening, and I already thought I knew what I was talking about!
Now, I have also perused the 6 bad reviews this book currently has on Amazon. Half are worthless themselves--giving no relevant information. The other half gave me pause. I now realize that, had I not already been familiar with the workings of microfinance and the many names the author references, I too might have been lost and had trouble finishing the book. Thus, I can only advise other readers to attempt this book after doing other research, to discover for yourselves how the industry promotes itself. But for my purposes, this work has been worth its weight in gold--for my benefit and that of the others who will read what I write.