I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

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Value Investing
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Saturday 5 October 2013

Madness of men in the stock market






 




























 
 
Dollar stocks built on penny towers in ruins
 
SGX suspends 3 of 6 firms it queries after their counters plummet overnight
 

BT 20131005 KLSUSPEND5 783673
 

THEY started out as penny stocks, one small coin being stacked atop another, but at such a head-turning pace that in just months, many were dollar pieces balanced on towers of pennies.

Yesterday, those towers came crashing down. Singapore Exchange (SGX) undertook one of its most wide-ranging interventions in recent memory by querying six companies and swiftly suspending three of them within an hour.

One trader said: "What a crazy morning. The whole screen was red at one point."

The market opened yesterday with the six queried stocks - Asiasons Capital, Blumont Group, Innopac Holdings, ISDN Holdings, ISR Capital and LionGold Corp - falling sharply. They had a combined market capitalisation of $10.3 billion as at Thursday's close; by the end of yesterday, their market value had more than halved to $4.7 billion.

Just before SGX suspended their stocks, the market cap of Asiasons, Blumont and LionGold had fallen to $4.1 billion from $9.3 billion the night before.
 

"I can calculate the movement of stars, but not the madness of men," Newton apparently said after he lost his fortune.

CW8888: Day traders got big balls!







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