Today, I am reminded of the times when my advice to family on property or stock investments turned out to be unwise later on. For example, in year 2011, I advised my mum to sell her HDB flat (rented out) as I feel the property price is high. This turned out to be an unwise move because of the new HDB ruling which forbade private property owners to buy HDB flat. Whenever I feel down over these mistakes, I am reminded of Peter Lynch words of wisdom- 6 out of 10 is what you can call a great investment record. Never beat yourself up over investment mistakes or wrong advice given.
At the minimum, I got 6 out of 10 in my investment track record. At least, the rights have been much more than the wrongs. At least, it was a right call to urge my sister to buy a condominium in year 2005. At least it was the best decision to exhort my mum to buy SGX stocks in year 2003.
In my opinion, the gains have far exceeded the loss which is justified.
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