I would say that the last STI's Greatest Bear should be Asian Financial Crisis. Many Singaporeans had lost their fortune especially in the CLOB saga when overnight everything was gone.
I have never invested in any oversea market before, and also unlikely in the future as I don't believe that with my limited investing capital, SG market cannot provide enough opportunity for me to make decent returns.
There is no need to look so far away when the pot of gold is just in our own backyard. So I have escaped the CLOB saga, but my father-in-law and brothers-in-law were all badly burnt.
BTW, SIAS was born out of the CLOB saga.
I don't really remembered that I felt painful or scary during the Asian Financial Crisis. Probably at that time I only have $XX,XXX capital to invest in the stock market.
When you are in 30+ and you only have $XX,XXX capital and losing 70-80% of it in the bear market, you can still earn back by saving harder to raise new capital to continue your investment venture.
But, if you are in 40+ or 50+ and likely to have accumulated more wealth and have bigger capital like $XXX,XXX. Losing 70-80% of it in the bear market; it is going to be sleepless nights.
So I would say this is the most terrible bear market that I have encountered because I am in 50 and have much larger capital at stake. I don't have the luxury of time to earn more money and save harder to raise new capital to fight another bear battle. Scary man!
Last updated : 14 Sep 2019
I am 63 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children.
Currently, two sons and one daughter are working.
I have been doing 20 years of long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that so-called Panda or Koala in the investment world.
I am currently executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
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