MW asked me how many bears I have encountered?
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!
Read? Who Took My Wealth?
Can I find back the Lost Profit in 2007? Yes. I can as I am Beary wiser now. Cheers!
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