D and I have been meeting resistance from our financial planner these days.
We (okay, I) had wanted to purchase a lot at Tagaytay Highlands (fine, Midlands) which will give me a free club membership. He said no. I wanted to buy a foreclosed house for which I would pay a pittance for. He said no.
It could be quite frustrating to be told that you cannot buy something that you really, really want to have. But that is the function of a financial planner – he will tell you if you can, when you can, how you can. He is my personal financial brakes, someone to tell me that I am going overboard, or that I am just being silly.
Believe me, no one at the start really is. Some say the stock market is a simple game and playing requires only gut instinct, or no instinct, since the rule is buy low and sell high. Timing is everything and nothing in this game. No one knows when the bottom will come, even when a downward curve is on the horizon.
You can play two ways: online or live. You can see a list of trading participants (brokers, in street parlance) in http://www.pse.com.ph/. Click the link on the left side that says “Trading Participants”.
Financial advise comes from the most unexpected source sometimes.
I met Warren Buffett through a Chinaman, a name the Chinese were called a long time ago, and which I use here with awe and as a form of endearment. My Chinaman, let us call my Chinaman Mr. S, ushered me into the wonderful world of stocks.
He came one ordinary day into the office, wearing simple unassuming clothes, wanting advice for a tax problem. He did not impress me on day one, nor I him. He did not shake my hand when the meeting was over, only did some form of a bow, muttering that he still had a bus to catch. That would not have been odd except that I knew that his net worth was 290 Million Pesos, up from 29 Million Pesos, because he was a stock market genius. Having started learning about stocks that year, I knew I should have his ear, and he mine.