What is the biggest financial mistake that you have made and what did you learn from it? - Seedly
 

Investments

Asked by Anonymous

Asked on 15 Mar 2019

What is the biggest financial mistake that you have made and what did you learn from it?

0

Answers (7)

Sort By

Most Upvote

  • Most Upvote
  • Most Recent

My biggest mistake was trying to find the holy grail of investing.

I lost more money taking courses than actually losing money in stocks. I did lose money early on in my investing years but I spent more on courses.

Taking courses is good but don't be excessive. After a certain point, most courses start to sound the same and teach similar things. Every trainer will claim to have some special technique or method to give you magically good profits.

2 comments

2
Lim Boon Tat
Lim Boon Tat

05 May 2019

Hey Gabriel, interesting answer --- i'm been value-investing for several years now, and always trying to improve /learn more and understand more. What courses have have attended, and what are you doing now for your own investments?
Leo

03 Dec 2019

True that. Investing is such a huge topic, it's ok to take courses to know stuff, but don't pay too much for too little. And no need to attend every single courses in the market. (Including courses that are upsell to you.) After taking courses, it is still the individual's effort to better themselves. Especially in our climate where there are more and more courses and trainers.
Richard Woon Tian Jun
Richard Woon Tian Jun
Level 7. Grand Master
Answered on 16 Mar 2019

It's a little funny but it was a side business of mine to resell phone covers that I got from a Taobao supplier on Carousell - I bought 100 units of it expecting people to have a good demand for it, turns out I found 3 similar people that were selling lower than my unit cost.

Just goes to show that if you don't do research it'll come bite you in the ass. If you fail to plan, you plan to fail.

0 comments

1
Adriel Thin
Adriel Thin
Level 4. Prodigy
Answered on 03 Dec 2019

Not starting earlier

0 comments

0
Wilson Nid A Break
Wilson Nid A Break
Level 8. Wizard
Answered on 03 Dec 2019

Never start investing earlier on, but its never too late to start!

0 comments

0

Being over extended in just prior to financial crisis. Being mentally prepared is one thing. But a margin call is a very painful thing to receive.

0 comments

0
Isaac Chan
Isaac Chan, Business at NUS
Level 8. Wizard
Answered on 18 Mar 2019

I know I'm still quite young, but I realised I should have started earlier with investing. Not so much because I missed out on my returns, but because I did not study more about finance during my times in NS. I had quite a lot of time during and after NS before uni, and it was kind of a waste I didn't start then.

0 comments

0
Yong Kah Hwee
Yong Kah Hwee
Level 8. Wizard
Answered on 16 Mar 2019

Putting my eggs in one basket. In my case, it was to invest in all 3 Telcos back in 2016. Look at their share prices now.

0 comments

0