Tuesday, October 07, 2008

Financial Markets in Upheaval

The past week market upheaval reaches Richter scale of 9.0 in earthquake language. Lots of opportunities and financial stress. Stock market now is low. Will it get lower? Is this the start of bear market? Now Europe has financial crisis. Raffles Education stock was $2.56 is now trading below 60 cents. The boss of Raffles Education was featured in a two part series on Sunday Times in two separate Sundays. He was third or fourth richest man in Singapore. Now, he must be a lot poorer but still very wealthy by any standard.
Warren Buffett, the world 2nd richest man famous saying "Be fearful when everyone is greedy and be greedy when everyone is fearful." He just invested 8 billion dollars in Goldman Sachs and GE. I am not sure about US market anymore. A little gun shy after getting burnt.
I think the Singapore stock market offers good value now. However, it will take several years before the stock will climb back up in value. So if you have spare cash, this is the golden moment to invest.

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