It wasn’t hard for me to reach 7.875% on ROI in 6 month. For I known Taiwan stock market would surly be bursted down, as well Janpan’s. But I just couldn’t figure out the situation was that worse. After many years, one of the manager in Barings reminded me I said in March, 1990 that TWSE would crash down to 2,500 points while the highest point was 12,682 in February. He said I was predicted right, however I indeed forgot I had told him that.
Six month passed, my ROI was 16.5% (include NTD depressed 3.8% against USD), therefore I passed the first level. In comparison, a proprietary trading department broker had lost 40% of ten hundred million dollars on investing. Ironically, her securities manager ever said to me that I was like “small feet walking in big shoes” ,because I put money into oversea stock market.
I think the reason I could stand firm in this organization was I stayed away from the crisis of TWSE 2,500 points tumbled from 12,000 point. I dare to said “No” to a group of oversea PhD, big men of the stock market while they forced me to invest Taiwan stock market. This made they very impressive about me. Why I dared to said “NO”? The reason was simple, I had involved in Taiwan stock market for ten years since the index only 300 points. Anyone would be trembling with fear in the process of 300 points to 10,000 points. Therefore, my sincere advice to you: if one are too optimistic about the market when the point is booming, his should take the thinking of those who involved in the lowest point. This is a very important way of thinking. For those who involved in low point are majority shareholders whom understand their own company well, therefore they still buying the stocks during the economic depression. Although they may not judged correctly about the trend, however they understand companies’ quality and constitution well. This caused them to buy in the low point while people are negative toward the market. Besides that, if you are a hipper active investor who invested while the market seem to be excellent, you would learn to see the trend chart upside down.
Still remember the broker who worked in the proprietary trading department I was mentioned above? On January 1990, she got ten hundred million dollars to invest, however only four hundred million left in the end of August 1990. Until September, She had been layoff. Maybe she might be an expert, however she didn’t have a look of empty market and asked suspension of operating. If not, end up fired. In many consequence, the turning point may considered “crisis” or “chance”.
To be continued…
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