As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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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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Wednesday, 5 July 2017

1997 Asian Financial Crisis: 20 years on


You don't think it is necessary to think and plan ahead financially. May be you haven't live through real hard time of your life yet.

GFC was no where near the suffering of retail investors in AFC where Government hasn't learnt the hard lesson to ring fence retail investors from their Greed. CPFIS fund all hooted tua tua into the stock market. Why gave chance?

Read? Don't Laugh At Ants When They Looked Far Ahead Of Their Time




5 comments:

  1. AFC for us (East Asia & SE Asia) is basically similar impact as GFC for US & Europe.

    Actually if not for QE 1, 2, 3, 4 by Fed, BOJ, PBOC, ECB, BOE all of us, both East & West, will be suffering worse than AFC now.

    I remember condo prices dropped by as much as 50% from 1996 to 1998. Sama sama also for certain expensive HDB e.g. Bishan, Toa Payoh, Marine Parade. Imagine $600K Bishan HDB in 1996 drop to $300K in 1998 also nobody want to buy (or got job to buy).

    Too many SMEs up lorry; highly leveraged biz men surrender; too many joes & janes lost jobs, cannot service mortgages. Banks had a field day auctioning all the confiscated properties --- but still cannot cover loans as the properties let go for a song.

    Keppel & Tat Lee banks had to merge to survive, and still not enough --- had to seek capital injection from Irish banks in 1999.

    In 1997 we still had 7 local retail banks in Singapore. The combination of AFC & Dot.com Bust resulted in consolidation of 7 into now 3 banks for survival.

    But those who were cash-rich or in civil service jobs had it good during those years! :) :)

    ReplyDelete
  2. CW,

    I wonder if everything is random or just plain dumb luck...

    https://www.bloomberg.com/news/articles/2017-07-04/two-decades-after-crisis-these-3-asia-markets-are-still-down


    Buy-and-hold and passive indexing will be a much harder sell to Japanese, Taiwanese, and Thai investors?

    You mean there are no "ants" in the above countries that looked far ahead of their time?


    Or maybe your goal based strategy was all about being in a government-linked company that never retrenched you?

    If out if job how to pick up 10 baggers in 2003?


    Now that we BOTH are out of job, the next big one will be our litmus test ;)


    ReplyDelete
  3. I know some of us *cough* *cough* oldies *cough* are fans of Peter Lynch ... kekekeke!

    Below is a link to a recent short interview with him by Institutional Investor magazine...

    http://players.brightcove.net/788927399001/r1x5YNbfbg_default/index.html?videoId=5418092573001

    What was one of his worst investments, why he quit managing money for people...

    ReplyDelete
    Replies
    1. I can't remember seeing any "Gurus" teaching investing method like Peter Lych. If you have seen it; put the link here. :-)

      Delete
    2. Hey, plenty on YouTube ... can watch until siao...

      https://www.youtube.com/results?search_query=peter+lynch+investing

      How to pick stocks...

      25 golden rules of investing...

      Bottom fishing...

      Investment strategies for the public...

      Most important thing when buying stocks...

      Delete

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