Press Release
January 08, 2009
Investment experts debunk recession myth
Few of us need to be reminded how disastrously 2008 ended. Over half a million jobs lost worldwide, equity markets plummeted by over 50%, huge financial institutions crippled and the world held in the grip of financial crisis.
For many of us, that automatically means tightening our belts and steering clear of investments and luxuries. The majority tend to adopt the mindset of waiting for the good times to return before spending again.
However, there are those that tend to disagree. Come 15 January 2009, three experts will debunk the myth that one should stave off investments during economic lulls.
Mr John Doyle, Deputy CIO of UOB Asset Management, Ms Mah Ching Cheng, iFast Financial’s Head of Research and Mr Mohamed Ismail, CEO of leading real estate agency PropNex Realty, will be speaking at a wealth seminar organized by financial advisory firm SingCapital.
It is their common belief that, despite the current economic uncertainty, there is no better time than now to investment.
“Investment opportunities are everywhere,” says Mohamed Ismail. “One just has to know where to look and how best to invest within one’s means. Read up this article before you buy a property.
“People are now fearful because of all the negative news that is appearing everyday,” he continues. “Although it is true that investments in general have fallen tremendously, it is fear and uncertainty that are the main causes. PropNex wants to equip the public with the right information so that they can make the right decisions. That is why we support the initiative by SingCapital to educate and inform the public on the various financial choices they have which can enhance their wealth.”
He explains one example of where waiting can be a loss. “Someone who wants to buy a 3-room HDB flat should not be waiting,” he says, “as the price trends for such properties are rising, so waiting would actually result in the buyer having to pay a higher price.”
The experts believe that low prices during recessions make for prime investment opportunities, allowing savvy and/or first-time investors to pick up great bargains. As billionaire Warren Buffett always says: Be fearful when others are greedy, be greedy when others are fearful.
The seminar, which will be held in the evening at the HDB Hub Auditorium, is open to the public at just $10, inclusive of refreshments and souvenirs.
