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Tuesday, Jul 2, 2013

Business

Saving a priority for young investor

Tuesday, Jul 2, 2013
Saving a priority for young investor

After my O levels, I read Robert Kiyosaki's Rich Dad, Poor Dad book which made me want to be rich rather than poor.

When I found out that my mum incurred a staggering 53 per cent loss on her investment-linked product, I began reading more investment-related books to guide my own investment decisions.

Q: What was your first investment?

I bought 3,000 shares of Las Vegas Sands (LVS) in early 2009 at US$3.75 apiece, or $17,500.

Back then, LVS experienced a delay in the construction of Marina Bay Sands in Singapore amid the mortgage-backed securities crisis.

I remembered LVS' chief executive saying he'd use his own money to fund the construction if necessary. That gave me confidence that LVS' share price would turn around. The share price was rather volatile and I eventually sold LVS at US$7.50 apiece.

Looking back, I made a hasty decision as LVS fell to US$6 before rising again. I bought it back at US$8 and sold it at US$40.

Q: What is the most extravagant thing that you have bought?

That would be a $3,000 Sony Vaio laptop which I gave to my younger sister. For myself, I spent $1,899 on an Asus Zenbook laptop.

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