The Importance of Having Mentors

I used to do things on my own. I used to ignore advice from loved ones. I used to ignore advice from peers. Can you guess the result? I admit, most of the times, the results turned out to be disastrous.

Things were done in a haphazard manner. Decisions were made at the spur of the moment. But these are what makes us wiser as we grow older. We learn from the mistakes of the past. Maybe we are destined to make mistakes so we may know how to move forward as we journey through life.

As we move forward, we will meet someone, or we may read something, or we may have experiences which can serve as mentors for us to be able to make the appropriate decisions. A mentor acts as a check and balance because whether we admit it or not, we do not know everything. We are not perfect and we will never be. There will always be people who are better than me. As an example, people still regards Michael Jordan as the best player in basketball than LeBron James or Kobe Bryant. Maybe that’s the reason why both LeBron and Kobe looks up to Michael.

LeBron James even trained under Hakeem Olajuwon, who is one of the best centers, to improve his post moves. It turned out to be one of the best decisions he ever had. His post moves vastly improved. He is now a complete player.

When I started investing in the stock market, I went on my own. I just did it for the sake of being in the stock market. Nobody gave me directions. I had zero knowledge. Because of that, I missed out on the great opportunities. It’s not yet too late.

I joined the Truly Rich Club, founded by the well loved Bro. Bo Sanchez to somehow put my investment plans in order. The club is my online mentor as it teaches me how to properly handle money and on how to properly invest in the stock market. If the club was able to teach the maid of Bro. Bo on how to invest in the stock market, why not me. By the way, as I am writing this, one of the maid has now reached the P1M mark. It inspired me even more. I now have that burning desire to hit that mark the soonest possible time. I am sure that with the proper guidance, I can never go wrong.

Happy Reading!!! 🙂

The Stock Market is Still Going Down…. What to do Next?

For several weeks now, I saw the Philippine Stock Market on a downward spiral. Though there were a few trading days when I see the market make a rebound, I see it as an opportunity for bargain hunters to buy shares of great companies at a much cheaper price. After bargain hunting, shares plummet once again on the following days.

Others view the current downtrend in the Philippine Stock Market as political. However, based on the global news, it seems to boil down to global economy. The impending increase in the federal tax rates is being anticipated with bated breath.

To long term investors, crisis like this is a great opportunities to accumulate shares since the prices are cheap. This is the time to be greedy since a lot has been so fearful. Fearful because some entered the market when it is going up. For those who waited on the sideline when the market is up, I imagine that they are now like kids buying candies of different variants from candy store. There are lots of cheap companies left and right.

One piece of advise though my friends, always make sure that you buy shares of great companies only. You must invest your hard money on companies which will be around for the next 10, 20 years. Do not put in your hard earned money on penny stocks. Later on, you will become penniless.

Invest wisely. We invest because we think about the future. Live in the present but always plan for the future.

Have a nice day!!! 🙂

The Stock Market is Going Down….Again

I just learned today that the Dow Jones fell by 394 points at closing last Sept 9, 2016. Most of the time, the DOW serves as a barometer on how the Asian markets will perform, specifically the Philippine market which is represented by the PSEi.

The PSEi already closed out on a losing note last Sept 9, 2016 by 85 points. And with the Dow losing out big time, I won’t be surprised that the PSEi will follow suit especially that majority are foreign investors. I wish that the time will come that Filipino investors would dominate the Philippine Stock Exchange.

I mentioned in my previous that I have rejoined the Truly Rich Club. One of the main objective of the club is to teach financial education to Filipinos. The club would like to emphasize that investing in the stock market is not only for the rich. Anyone can do it as long as we obtain proper financial education and guidance.

The club has a shortlist of recommended stocks that the members could buy on a regular basis. That is regardless if the market is up or down. It doesn’t really matter. The club members celebrate when the market is down since we can buy shares of great companies at cheaper prices. We are being taught to buy on a regular or monthly basis so we can ride the volatility of the market. We are also being trained to act as Investors and not as Traders.

The role of the club now is crucial as some investors, especially the newbies tends to get carried away by their emotions. We are being reminded of the famous mantra by Warren Buffett that “We must be  fearful when the others are greedy, and greedy when the others are fearful”. Long term investors buy when there are a lot of selling going on and are on standby when stocks are getting overbought.

I used to be carried away by emotions when it comes to investments, but now, with the proper guidance and education, I know for sure that I won’t be on the wrong side of the fence ever again and I won’t miss out on greater opportunities.