I agree that there are a lot of ICOs lately and it's possible that some of them might not return the investment, but the right ones can pay you for all the rest and much more. It's a high risk - high reward investment and I'm afraid that it's not possible to reduce risks with the same profit possibility and pick just the winners.
I definitely agreed that most of the ICO project are scam, but I noticed something in the ICO that almost ICO token under by ethereum are mostly became successfull after the whole campaign end. And got their earnings in their to that ICO, Meaning those ico whose under ethereum erc20 are good to participate anyway.
I agree more or less. It is risky but you can get good returns at the end. Actually we should ask what does investor want. A valuable digital coin or a good project. Because even some scam project had valuable coins and investors got very good returns. On the other hand there are some projects with a very good team and good ideas but the digital assets they distributed are not valuable at all.