whole 2nd board counters I bought b4.....hahaha,from autoways,buildcon,belton,kpsd,golden frontier,mgr,perfect food,scib,mcl,repco,bridgecon,to union paper and many more
apply never get one, they only give a few lots to those apply a bit to advertise back then. I remember I apply penas corp at RM8 or RM8.5 10 lots,3 names get nothing when open at above RM 20. even the pantry lady for the company got a few lots
I also applied for Proton IPO I think in year 1992 (not 1993 I think as it was in the most powerful bull run year, I think)
I applied for 5,000 Proton Shares I think about Rm5.00?
They only gave me 1,000 shares. The monies for the 4,000 shares (about Rm20,000) were refunded by cheque.
Ha! Some crooks intercepted and Cashed the cheques to our horror. But I think Proton or SC compensated all. So nobody suffer losses.
Because of the bad experience I sold off Proton shares at Rm7,000 for 40% profit & left the KLSE.
I totally missed the Strong Crazy Bull Run Year of 1993.
And Dr. M cautioned the people not to chase the hot hot market. But nobody listened to him.
Then Daim Zainuddin came out to warn. He said he only trade for coffee money as market is too high to chase.
Only then in early 1994 KLSE corrected. It ding dong ding until 1997 When Asian Financial Crisis Struck!
I was out of the Share Market.
It was July 2 1997 when I went to change some ringgit for Sing Dollar in Boon Lay, Singapore. No exchange or trading for Ringgit as it was suspended. George Soros caused the Ringgit To collapse, starting with the collapse of Thai Bath.
The Crash was a terrible blood bath for all who got caught fully invested at peak prices.
me stuck on BAT 8,000 at RM 25.00 during the diam announcement.drop to RM 17.00 in 3 days.the late mr.goh wee cheng( his sons now directors of macro kiosk)also lost a few mil. he kena force selling his public bank at 80cts only in 1997.
damn repco drop from RM 200 to RM 10,i greedily bought 10 lots within 30 mins rebound to RM 11.70,my fren told me better don't sell and a few days later I sold at RM 6.00 only. spirit a construction 2nd board stock rite?
a fren's fren in 1993,people crazy about stocks but instead he bought a land in Macalister road pg for 1 mil sold to Tropicana for 8 mil a few years ago.many who make in 1993 bangrupt in 1997 but I manage to scrap thru. all because the higher stocks goes up the more scary I become.i will only hentam stocks when they are low, when up a lot I buy more less and less.
that time a rich auntie,her son in law a director in sg besi(this stock I forgot chage to what name before delisted) bought 10,000 on SH CHAN at RM 58.00 and told me to buy. I told her I am too scared to buy......hahaha
Posted by Apollo Ang > Jun 21, 2017 12:46 AM | Report Abuse
a fren's fren in 1993,people crazy about stocks but instead he bought a land in Macalister road pg for 1 mil sold to Tropicana for 8 mil a few years ago.many who make in 1993 bangrupt in 1997 but I manage to scrap thru. all because the higher stocks goes up the more scary I become.i will only hentam stocks when they are low, when up a lot I buy more less and less.
Exactly,
One guy who made some from the GoGo years took out his modest winnings of Rm300,000 & bought a roadside land in jalan Reko, Kajang
Later he built a shop & sold electrical goods. He escaped the crash
@calvin thanks for sharing the 1997 stories. I am only <10 years old that time. I wonder how trader/investor survived during that period.
So were you working that time? or full time investing? meaning if serious bear market like 2009-2009 we should be out of stock market for a while? then do what oh, tanam jagung? =)
before the 1997 crisis people bought into 2nd board shares mostly thinking of fast money only,buy on hot news and chase stocks,never heard the stock fundamentals.i known many frens that time without knowledge of stocks simply just punt many bought a few hundred k without knowing how to pronounce the name of the company.in the end many owe remisiers during that time and never saw their face in the market anymore.also last time those came to punt on stocks without any collateral and contra can be rollover to a few months with interest only.a friend of mine bought perfect food 20lots@RM8.00 sold at RM40 in 3 months without taking up the scripts.but in the end he lost all using the gains to buy yahorng@ RM 10.00,mitra @RM 12.00 and ibhd @RM5.00 and he hold on until 2007 and sold yahorng at 40cts,mitra at 48cts and ibhd(I forgot how much he sold but I know very cheap)
I was out of the share market in 1997 because I met Alfred Ong who warned me to get out.
I owe Alfred Ong an everlasting financial debt.
For Lehman's brother crisis in year 2007/8 i already saw the subprime danger when i visited USA in 1999. At that time in San Francisco, Las Vegas, Los Angeles and San Jose I saw flyers every where at every street corner.
Placed inside bins are free flyers and handbills telling people to borrow like no tomorrow.
Taking a look at the flyers it read like this
1. Do you need to borrow money? Come and see us.
2. You have no job? Never mind.
3. You have no asset as collateral? Can borrow.
4. Are you insolvent? No problem
5. Are you black listed. No problem
6. Are you a bankrupt? Also no problem.
Come and see us for easy loan.
At that time I did not know what's happening in USA.
Then it became clear that there was a property bubble in USA.
And by year 2014 George sorrow warned that the Housing Bubble will burst by 2007.
So I took heed to sell all in 2007 (except Opcom) and left the market.
Both times I was out of the market crash.
This round people say it will be even worst than 1997 and 2007.
I am not sure as BERNANKE has invented QE1, QE2 & QE3.
If market should crash again I think the new discovery of QE by the printing press might come into play again.
As such we are now on uncharted territory.
It could go either a) A big crash by another great depression b) Hyper inflation due to rampant money printing c) Remain status quo as FED balance it by rising or reducing interest rate. Money QE or less Qe. Judgement day could be postponed indefinitely
For scenario a - doomsday prophet like Marc Faber and TTB will do well.
For scenario b or c all who keep to cash will underperform due to inflation and money dilution by QE.
I bought. a house in year 1982 for Rm50,000 (medium cost house). I paid Rm5,000 to buy as transfer booking from the first owner. New acres charged me a very high transfer fee for this house in Tmn Sri Muda, Shah Alam
After keeping it for 17 yrs until 1999 I sold it for Rm92,000. After 17 years capital gain is only less than 100%
I bought a house by kl high court auction in 1992 for Rm160,000. I sold it after 6 months for Rm270,000.
I made a gross of Rm110,000 in less than 1 year.
From this i learnt than the housing market is cyclical in nature.
If bought at wrong time it will be a lousy investment. But at the right time it will do wonders.
From here i also learn about cyclical stocks like steel, property stocks and other cyclicals.
For cyclical the timing of right entry is crucial.
We can make a lot at bottom if we get it right. And we can also go kaput if we enter at top and later caught in the subsequent crash.
Depends on market condition. This past eight months or so my portfolio has given me a realized return of 130% up to end of May which doesn't take into account unrealized gains on Insas, Cresbuilder, Affin etc.
please don't count on percentage, count on amount. many of the stocks is illiquid how to make so much? maybe buy a bit can up a few hundred % but if buy a lot they won't push it up for u
I tabulated my realized gains up to end of May over my initial capital to get 130%. All gains have been reinvested. RM100 now becomes RM230. The RM230 represents purchase cost of portfolio without accounting for unrealized gains.
I bought my first property during hot boom time. I bought it in Sri Muda, Shah Alam but I worked in Kl.
So to save time i rented out the one in Shah Alam to tenant. Then i rent one from my landlord in Cheras.
Buying property then was a hedge against inflation.
I only bought the 2nd property 10 years later in 1982 from high court auction. Sold it within the same year.
I bought another one in year 1996. I bought it from high court auction at Rm272,000. I got a buyer for Rm380,000 at end 1996. But i couldn't sell it as the property got 4 caveats.
And i went through the Asian Financial crisis of 1997 & 1998 until year 2,000 when i finally got my lawyer to clear off all 4 caveats and transfer the house to my name.
I sold it to my neighbour for only Rm360,000.
After adding high interest rate of 9% for 4 years I think I made only Rm35,000
This taught me the high cost of fund can eat into profit.
And also to avoid property with caveat from high court auction.
I make wrong move,buying maxis in 2010 instead of kpj,in 2011 bought kian joo instead of hap seng. in 2013 bought sab instead of dsonic and inari.in 2014 bought century instead of osk property-wa, and last year bought sunway instead of ekovest.overall I make but I pick wrongly between 2 or 3 counters otherwise I make a lot instead of making some makan money only
ignored this sort of stupid crapped stuff where he himself got stuck up in the muddy waters. His recommendation is of no value besides his yearning for political influence to dupe those newbies investors into his presence to believe those bankrupt corrupted goons who are killing themselves with their corrupted means to stay in power.
wonderful sharing sifus.....during 199x i am only a lad. 1997 im only in primary, 2008 im in uni....now i never experience a recession and now i'm in stock market.
if want crash liao please warn everyone in i3 ok? warn kau kau especially to unsuspected newbie like me.
please share more. What advice would you give to a trader/investor starter in late 20s with RM50k capital?
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
TheContrarian
9,432 posts
Posted by TheContrarian > 2017-06-20 23:45 | Report Abuse
Proton IPO was RM5 in 1993, the first share I own via my first IPO application. First timer's luck.