The recent market correction in the US is perhaps a wake-up call for some of us. Well, some may think to themselves looking at the sea of red, “Hey, investing in stocks is actually kind of risky. I can lose a lot of money within a very short period of time”.
- Seeing Red? Here’s what 10 Financial Bloggers think (read here)
Really our worst enemy is ourselves.
Often we hear about how others did well financially. How their investments are paying off. 2017 was a particularly low volatility year when it comes to the stock market in general.
Seldom do we hear about screw-ups – When people lose big money. That is natural. Who wants to look like a fool in front of others? Look like a failure.
However, it is even more seldom that we hear about how people rise from their failures and learn from it.
Investing in the stock market always provide me with a very humbling experience. I thought I know which stocks will do well and when the market will peak or crash. Or how well I know myself and my temperament. And how well I take losses.
My worst stock pick is probably Golden Agri, followed by SIA and SMRT (come to think of it, they were mostly blue chip or ex-blue chip stocks :p).
Sometimes, I wonder what is the percentage of people making money vs people losing money in stocks.
- Stocks — Part III: Most people lose money in the market (read here)
- Nearly 70% of investors lost money in 2015 (read here)
And I am not sure how many have given up investing in the stock market altogether.
Often, we surround ourselves with people of similar social standing and financial standing… our peers. Nevertheless, it is always good to meet people who come from a different ‘circle’. To learn from their screw-ups and how they have managed to overcome it. How hungry they are to succeed.
Below are 4 examples of people who had screwed up big time financially, but have managed to bounce back up.
- Down S$740k after penny-stock crash, he clawed his way back (read here)
- Ex-bankrupt can laugh all the way to the bank (read here)