Welcome to Yap's Money Live Show. Thank you for your interest and your support.
Today I'm going to ask you a question. How many fund managers or investment
managers did you fire last year? Recently I conducted a seminar. I shared
about the idea about sacking fund manager who is not performing. A few participants
they're pretty shocked with my statement. They are pretty
surprised that to see how unfriendly I am or my company is towards fund managers.
Now let's put things in the right perspective. We invest with fund
manager, we make friend with fund manager but we dont fall in love with fund manager.
The objective of using a fund manager is nothing but to get them to help us to
grow our money, to help them to achieve certain investment return for us. That's it.
So in that case, if they perform we'll keep them, to let them to continue to work for
us or we may even top up more money for them to grow money for us. But if they
don't perform, so they they are not doing their job. What we want to do is
we are the sack them and replace them with another fund manager who can perform
and help us grow money. You may wonder how many fund managers Whitman has sacked
last year. For your curiosity, Whitman has sacked 5 fund managers from
5 different companies last year and we have replaced, we have removed them from
our clients investment portfolio and we have replaced them with better
performing fund managers. Now you may also ask yourself if your
financial adviser was advising you, if they are the agent of the fund
management company, would they be in a position to sack the fund manager and
replace with other better performing fund managers from other fund management
companies. Can they do so? The truth is, the fact is that
if they are the agent of fund management company, it's impossible for
them to do so. Because there's no way that they get to betray their fund
management company for your interest. If you don't sack the fund manager when
they are not performing, you still keep them there then you will not be able to
optimize the full potential of your investment return.
And worse still, not only you may not be able to make money, you may even lose
money as well. So if we are determined and if you are serious about
growing your money with high certainty, we have no choice. We got to learn how to review
the performance of the fund manager. We need to learn and recognize the right
timing to sack under performing fund manager so that we'll be able to get the
best return potential from the risk that we have taken.
Now I have a question from Joseph. Joseph is from Puchong. His question goes like this. I am 55
years old. I have 5 investment properties and I need RM 600,000
urgently but I can't get loan or refinance any more. So I decide to
sell one of my fully-paid properties. Which one should I sell to raise
cash fast? That sounds like pretty urgent kind of a question. Now you see in
my practice, my clients actually always discuss together with me about like, when they
they need money which one should they sell. So some of them they
say maybe I should sell the lousiest one because I don't want. So I better give
to somebody else. Some of them, they would say maybe this piece of
property, I can't rent, nobody actually rents it. So I should sell this one and
some may say, this one is very difficult to manage. It is very far in Semenyih. So too
far, too difficult to manage. I'd sell this one. And some may even say, for this
property, I make a lot of profit. Maybe I should realise the gain from this property.
Now the question is that, with so many criteria that we have, which
property should we choose or which criteria should we use
to decide which property to sell to raise
cash fast. Property market is very soft now, it's very difficult for you to sell any
property now. So my suggestion is that don't think about all these
criteria that I mentioned just now, we should actually look at the
property which is easiest one to sell, which is the one that people will
want to buy now and sell it. Even though it could be your best investment
property. It could be your favourite property. Don't have any emotional
attachment. Sell it. And if need be, since you need the money right urgently,
you may need you to even sell it lower than current market price to make sure
that you can attract the buyer to buy your property. At this stage, I believe
there are still some buyers to buy the property from you because they are looking
for good bargain. If your property is offered at very
attractive price to them, attractive value to them, they would still buy from
you. But if you wait longer, there may be less buyers to buy the property from you.
So it'll be even more difficult for you to find buyers. And even if you can sell,
you may need to sell your property at much lower price. So I hope you find
my advice to be useful and you can raise your money in time.
Now I have a question from Charlie. He is from PJ. He asked in Episode 6, you mentioned about getting a professional to guide me to
identify and avoid well disguised scam. What criteria should I consider,
what criteria this person should have. Now I am
glad to hear this questions. It is actually a very good question because from the question,
I can tell that Charlie you know the importance of getting the right
professional to help you to avoid all these scams. Now I have got three
criteria for you to consider when you are looking for this professional. No. 1,
the person, this professional must be licensed by Securities Commission.
Ideally they have got financial planning licensed under Securities
Commission. Okay and they should not be someone
who is a unit trust agent because unit trust agent though they may be knowledgeable but
they are knowledgeable maybe only limited to the knowledge of the fund house,
the investment company that they represent. So if you show them the
investment proposal from somewhere else or overseas or from outside the company,
they may not be able to give you their opinion and the second point that
you need to consider is their experience in analysing the
investment proposal. You see, some professional they only focus in selling
the product. They do not actually have much experience in helping the client to
analyse the investment proposal whether it is from local in Malaysia or from overseas.
They also do not know how to analyse the investment proposal from companies other
than they represent. So you must look for a professional who's been paid, who's
been very experienced in analysing the proposals from various sources.
The third criteria to look at is whether this particular professional charges
professional fee for their service. You see any professional who's really good in
their job, they would definitely charge fee. Remember there is no free lunch in
this world. So we all know that scams are hard to identify and to avoid. So it
makes sense to get professional help. But what is important is that is to get the
right professional, the qualified professional to
help you to do the job. If we want to grow our money with high certainty, we
must also learn one thing. We must learn how to leverage on the professional
expertise of the different professionals available in the financial service
industry. By doing so, we'll be able to tap on other people's resources, learn
from other people's experience and be able to help us to avoid unnecessary mistakes
and grow our money with high certainty.
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