Came across an interesting article by Robin Dhar titled "Diamonds are a sham and It's Time We Stop Getting Engaged with Them". It is interesting to learn when we buy a diamond ring; more than 50% of its value is lost as soon as we leave the store. Imagine learning that the $10,000 diamond ring you had bought yesterday is only worth $4,000 in resale value today. That's worse than buying gold or silver which only loses 5-10% of its value. Hence, the diamond ring is perhaps the biggest financial mistake, ranking higher than owning a car - a depreciating asset but with benefits of convenience. In addition, it is an eye opener to learn diamonds are not as rare as the price may imply. They are expensive due to the marketing delusion that “diamonds are forever” and the monopolistic nature of the diamond industry where companies work to restrict the supply of diamonds sold to the market. Furthermore, there are synthetic ......