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27-08-2012, 10:27 AM
Hi everyone,
Snowcap here. I started working in 1993 and knew nothing about investing. But I am a saver by nature and soon accumulated some savings. At the time in the 90s, fixed deposit interest rates were around 5% (before the Asian Financial Crisis). Gradually, as I opened more FD accounts in different banks, I was advised by the banks to invest in unit trusts, which I did. Some lost money, some made money. But I continued to work and earn money. I did not focus on investing until I came upon Wallstraits in 2002-3. It was also around that time that I read Rich Dad Poor Dad.
With a CDP account and a hunger for knowledge, I attended a $4000 investing seminar (Investools), which on hindsight was a scam. It was hard for someone in his 20s to learn anything from a 3day seminar that is enough to help him break even. So I remain skeptical of these 3day seminars till today.
I learnt much more by being a member of Wallstraits ($100 a year) and reading forums, reading books about Buffett/Value Inesting. I also read financial news from Business Times, The Edge, and the $6 Shares magazine. Although this is my first post and first day in valuebuddies, I remember the long and extensive posts by d.o.g., dydx, and Dennis Ng (RIP) in Wallstraits. So I am very pleased to see these "old guard" here.
However, despite being invested for many years I still think I have much to learn. I still struggle to read financial reports and decipher the meanings behind them. My knowledge is like bits and pieces here and there, so I continue to try to learn.
I hope to have good discussions with the "value buddies" here.
Snowcap
Snowcap here. I started working in 1993 and knew nothing about investing. But I am a saver by nature and soon accumulated some savings. At the time in the 90s, fixed deposit interest rates were around 5% (before the Asian Financial Crisis). Gradually, as I opened more FD accounts in different banks, I was advised by the banks to invest in unit trusts, which I did. Some lost money, some made money. But I continued to work and earn money. I did not focus on investing until I came upon Wallstraits in 2002-3. It was also around that time that I read Rich Dad Poor Dad.
With a CDP account and a hunger for knowledge, I attended a $4000 investing seminar (Investools), which on hindsight was a scam. It was hard for someone in his 20s to learn anything from a 3day seminar that is enough to help him break even. So I remain skeptical of these 3day seminars till today.
I learnt much more by being a member of Wallstraits ($100 a year) and reading forums, reading books about Buffett/Value Inesting. I also read financial news from Business Times, The Edge, and the $6 Shares magazine. Although this is my first post and first day in valuebuddies, I remember the long and extensive posts by d.o.g., dydx, and Dennis Ng (RIP) in Wallstraits. So I am very pleased to see these "old guard" here.
However, despite being invested for many years I still think I have much to learn. I still struggle to read financial reports and decipher the meanings behind them. My knowledge is like bits and pieces here and there, so I continue to try to learn.
I hope to have good discussions with the "value buddies" here.
Snowcap
