Apologies once again for not writing as frequent as I would like to. Aunty Scroogey has been busy doing deals over the past few weeks. You see, Aunty Scroogey just loooooves volatile markets and the uncertainties in the last few weeks has been the kind that she adores. A good financial education should prepare the investor to spot opportunities in the market that typical “investors” shun (as you progress more and more into your financial education, you will find that most of these so called investors are really more like punters/speculators). Talking about preparedness, the old Chinese saying at the start of this post roughly means “train an army for a thousand days, to use it for a moment”. In short, one must prepare extensively for THE moment.
Aunty Scroogey herself has taken advantage of good investment opportunities in the recent few years and has reaped pretty decent returns. If you think that The Aunty has been very lucky all these years for those profits she earned, how wrong could you be!!! All these do not fall from the sky and land accidentally onto my lap. The Aunty’s training begun circa two decades ago when she was about 16 years old – that’s when she first started reading accounting books on her own. The ability to read financial statements is a very useful skill that any investor worth his/her salt can’t do without. Of course, there are some out there who would rather not invest the tremendous amount of time required and rely on brokers’ recommendations; but Aunty Scroogey’s advice is that where possible, you really should be trusting your own judgement instead of others.
If you want your wealth to grow, and to last, you should put your hard earned money in the right places. If you commence your financial education today, I can guarantee that 5 years down the road, you will be more aware of your investment options and your risk preference and hence have a better idea of what to invest in. If you still have not started, then what are you waiting for?
In closing, here is a fantastic video presentation by one of the most respected persons in the financial world, Dr Marc Faber. I am about to watch this for the 3rd time now. Enjoy!