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Time to Get out of the Market
One of my mentors for stock investing/trading, Chua Soon Hock (Hedge Fund Manager, Asia Genesis Asset Management), wrote to the Straits Times Forum last week, warning the public that now is not the right time to jumb into the market. (His letter was published in ST July 6 2007. He is currently managing a fund of over US$450 million. So, we should really pay attention to what he says.)He warned of the extreme excitement of the public in the market. I can fully understand his point because within a short span of the past few days, I got approached by four friends asking me how to open a trading account. (It's the same situation in China right now. Every grandpa, grandma, aunty, uncle and men on the street are rushing to open stock trading accounts. And It is not a good sign.)Alan Greenspan (former Federal Reserve Chairman) also recently warned of a repeat of "Irrational Exuberance" (a term he coined just before the burst of the market bubble in 2000).I liquidated all my portfolio two months ago. My motto for i
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