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Wednesday, February 8, 2017

You could have WON BIG, if you had heeded my advice

Hi Guys! Its been 2 years since my last post. I originally decided not to write anymore but many of you have been asking me what is my view of the markets. It is certainly very interesting times since my last posting. To recollect, I said almost exactly 2 years ago, the carnage we can expect. What I shared almost happened precisely according to prediction.

The finance, oil and gas as well as real estate almost ground to a halt, shedding thousands of jobs. The repercussions reverberated across the economy. To illustrate, the oil and gas sector bond defaults caused hardship to even high net worth individuals. I recalled a story where a relatively rich individual bought S$250,000 of bonds issued by a prominent oil services firm, she was eyeing the 6 plus % yield. The next day, her private banker called her and told her that the bank will loan her another quarter million at 2% so that she can double down on her bet. The result? She not only lost the first quarter million, to add insult to injury, the bank immediately set aside the other quarter million. She's out of pocket by half a million. You can hear many of such stories so its important that you know what you are doing with your money.

I told you I expected the worst to happen in 3Q of 2016. Well, prices have tumbled significantly since then across the board. This is exactly what I predicted, please do not take my word for it but check the contents of my last posting. Kudos to you who managed to liquidate at the right price. However, if you did and feeling rather naked without any real estate, what should your next moves be? Of course, I always put my money on where my mouth is and I will share with you what I am investing in now if you can LIKE this post. Till then, Happy New Year and HUAT AH!

Your Friend,

Andy Ong


08/02/17