Asked by Anonymous
Asked on 15 Mar 2019
Top Contributor (Jan)
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.
03 Dec 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.
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.
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.