Introduction
Well, it’s been a heart-stopping and gut-wrenching 2008 and this economic crisis is not about to end anytime soon. Many individuals, banks, companies have been totally wiped out by this epic financial tsunami. It has been a year which most want to forget.
Everything changed in Sep 08 when Lehman Brothers collapsed. This has led to deleveraging and massive forced liquidation resulting in the price of almost every asset class falling significantly except for possibly US treasury bonds (more on this later).
Globally, losses from stock markets, money market funds, structured products, hedge funds, bonds, commodities, businesses, properties, foreign exchange could add up to US$100 trillion. To top it off, we ended 2008 with the ex-chairman of Nasdaq stock exchange, Mr. Bernard Madoff being arrested for running the largest ponzi scheme in history. Mr. Madoff reportedly “made-off” with US$65 billion.
By now, all the investors with money have no more guts to invest and all those with guts have no more money!
Many savvy investors including Kirk Kerkorian and Prince Alwaleed bin Talal lost money during this period. Long term institutional investors with a track record of delivering superior returns such as Harvard, Yale and Stanford University Endowment funds also took a hit in their portfolio.
I’m sure many of us have also seen the value of our investment portfolio drop significantly too.
Let me ask you, “Have you ever thought that this crisis is an opportunity to be very rich?”
In the coming months and years, a lot of bargain assets will be available – whether they be equities, properties or businesses . So we have to position ourselves for the grand bonanza. We need to play the game right and be alert to the windows of opportunities as they appear.
Investing using conventional wisdom and ideas that have served us well previously will not work in the current economic pandemonium. In this book, I will share with you the likely economic environment within which we could be in the next few years, key principles the rich use to grow their wealth, strategies to implement and action steps to rebuild your wealth.
About the author:
Ms. Tan Swee Cheng is an financial adviser with IPP Financial Advisers. Pte Ltd. Throughout her 18 year career, she has worked for Chase Manhattan Bank, Overseas Union Bank, Standard Chartered Bank and Phillip Securities Pte Ltd. During this time she managed a portfolio of S$2 billion; pioneered the trading of S$ instruments in S’pore Exchange; traded and marketed a wide range of financial instruments; and managed a pool of clients from Asia .
It was Ms. Tan’s in depth knowledge of financial products and commitment to understanding the products that were being marketed in 2007 that prompted her to advise her clients NOT TO INVEST in MINIBONDS and other similar products.
She provides individual clients and business owners with financial advice and financial solutions in the area of investment, wealth protection, wealth management and wealth distribution.
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