Thursday, April 29, 2021

"You got to speculate to accumulate" - (Lamar Davis, 2013, GTA V)

 So, I first started investing somewhere in mid 2018. Well, I say investing but looking back, it was really just looking at the prices of stock and buying on gut feeling, which in turn was influenced by whatever I read on the newspaper, social media, or whatever that came within the scope of my consumption of information. Fancy way of saying I don't know what I'm doing but I hope it will work out fine. I think all if not most of you would have been in my shoes, to some percentage or more.

I think my first stock purchase was Maybank - based on a snippet from a conversation Khoo Hsu Chuang had with then BFM presenter Tan Chung Han, which pretty much went like: "invest RM800 a month into Maybank and by the time you hit 50, you'll be a millionaire".

So, I literally took that advice and did that for a few months. But the price of it didn't budge much, and it went down over those few months, if memory serves. But I digress, there is nothing wrong with what he said and there is merit to doing so, especially if you know the ins and out of Maybank, and of course you stick to the plan till you're 50. Odds are you'll most likely make a million - its a solid company, part of the bedrock that supports the river of money that is the economy, too big to fail too and certainly big enough to ensure many companies do not fail too. 

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