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Wednesday, March 07, 2007

KLSE Woes as MalaysiaWatch Poll 24

This is your chance to show how you feel about the PM's remarks about the KLSE rising to new record levels just before the market crashed.

I hope you were not too badly affected. My program asked me to sell about RM9000 worth of shares but I procrastinated before the Beijing trip and when I returned the program asked me to sell RM1000 worth. The program is about six years old.

I wrote this in LKS's blog.

"Anyone who just listens to another’s advice to invest in the share market without proper study and resources needs to lose his money so that he will learn the lesson for the next round.

People used to give me tips or rumours but I always used to say, “Even if the Finance Minister gave me a tip privately, I would have to know his position in the market before that advice becomes useful to me.”

I also never ask my broker for advice as I do not know their position and if they are that good, they would not have to earn your commission.

The same applies to most fund managers. I think most of them survive on the annual fees and most funds just track the market performance."

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