I am not a savvy stock investor, nor a very successful one at that. I do know, however, this is a time for caution in the stock market when even my coffee shop landlady - a naturalised Singaporean from Mainland China - has started to dabble in stocks; or my sister-in-law, a full time housewife who had never traded a single stock for the past 40 years, has recently opened a trading account and withdrawn $200,000 of her fixed deposits as starting capital! Although a first-time investor, the latter has one big advantage over the average punter like myself: she is setting aside what is only a fraction of her spare cash for investment and has what most of us have not - holding power. She said her money is better off parked in blue chips stock than in fixed deposits. She is probably right. But the point I am making is that the typical, average investor looks at the stock market as an easy source of quick profit and good returns on investment. This may have been the case so far. But unless they have the spare cash to ride through what is likely to be an imminent market correction, they are better off erring on the safe side, than be sorry on the wrong side.
Take it from this writer who have been through the 'wrong side' experience but survived unscathed to give this bit of advice.
Writer: Peter Chang
email: peterchanglc@gmail.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment