Hi all! This is my very first entry. I know I promised to do this for a very long time but it has been very, very hectic for me. I just came back from several countries and in fact, I will be leaving for a 3 city tour in a couple of days starting from Ho Chi Minh City.
I was inspired to make this entry as there were a lot of enquiries on what to do right now to take advantage of the current crisis. I am writing to allay your fears. Now first and foremost, ground rules, I really do not have time to proof read what I write so please pardon the occasional grammatical mistake. It is unforgiveable as a former journalist, but what I want to do is convey ideas rather then anything else.
Now you will recall that at the last CEO Forum, I revealed my 5 money making trends for 2009. For those of you who followed, I’m sure you are laughing all the way to the bank now.
Shorting the market for the first couple of months as advised obviously made money even though I was breaking out in cold sweat when the market rallied for the first couple of days in January. The education sector is booming as this recession proof business has created numerous opportunities. Tourism opportunities are abound as this sector continues to hire the most people. As for the real estate sector, the strategy of fishing for bargains very, very selectively has paid off as what was cheap has become cheaper.
Well that is life, you have selected to take charge of your career and financial life and if you had heeded our advice, you would be in a very comfortable position now to take advantage of the opportunities that are coming. The cash position that I have asked you to accumulate means you are king right now. Do not squander your advantageous position away easily.
The recent spate of new property launches have been quite successful but the time to buy is still not now, you can expect more bad news. Do not despair! Today Newspaper recently interviewed me and I was quoted, “When there is blood on the streets, that is where the buying begins.” That quote actually came from Mark Mobius, Templeton Asset Management’s MD. The reporter chose to attribute it to me and it certainly drew some criticism saying I was heartless. However, I stand by my investment philosophy, you buy low and sell high. When there is fear, that is where you can get bargains.
I will share my views on what is happening economically in the world next time, if I get some time off in the plane.
Till then, I wish you good fortune!