Asked on 06 Oct 2018
Interested to know about other people's first investment and how they first got started (getting your feet wet)
The first stock I bought was Facebook. Over the years I have been flipping in and out of the stock.
What this experience taught me was to own good stocks, don't trade them as if I had held the stock through thick and thin, my returns would be much more than my trading gains.
Bought china stocks that ipo in singapore. Cant remember their names, easily flipped tens of them over the years, and made thousands from it. Those were the days of china stocks ipo fever...
Sadly it's into an ILP when I was a wet behind the years agent. Don't think I ever broke even, even with fund switches along the way. Now just waiting for the right opportunity for the current fund prices to increase a bit before it'll be replaced by a term plan. What this eventually taught me was never to buy into mutual funds / unit trusts or into retail investment products offered by banks or insurers. Better to go DIY your own portfolio and earn the higher returns and live your dreams
I have a funny story to share...! haha when I was in Army my older brother was sharing with me the wonderous world of stock trading. And I blindly went in with some saved up money in NS. My first ever stock that I bought was ThaiBev! How random was that! I didn't know much about it except that they were listed in Singapore and they sponsored my favourite football club Everton. - Chang Beer (back then).
And the stock looked decently stable and on an upward trend. After that I went in with a bit of money and over the next 6 months it was so volatile. I didn't understand much back then so I told my brother to help me sell my holdings at a mild loss. Haha.
But what that taught me was that I need to understand first before investing and thereafter, I went deeper to research more before buying my next few stocks. And moving into index investing also with the STI ETF RSP and in more stable dividend paying REITs.
I think it's been an interesting journey and I'm more looking forward to see how a market correction will affect market sentiment and how badly this will turn. (abit sadistic) but I think most investors of our generation has not been through a 2008 crisis with actual invested funds, so it will be really interesting to see.
Interested to hear the more senior folks here who have been through massive market corrections while holding on to their stocks. (or not) haha.