SGX Penny Stocks | The Death of Punting – Blumont, Asiasons, LionGold

Last week, we saw bloodshed in the Singapore markets, especially for those punters gambling on penny stocks. Fortunes that were built up over months and years were wiped out in a single day.

This is very typical of all get-rich-quick schemes – you get lucky and win a few times, then you get greedy, and eventually a big one comes and wipes out your account.

I am pretty certain many punters  have been burnt by this episode, especially those who follow tips/calls blindly and did not manage to get out in time. In fact, if someone gives you a tip to buy a penny stock, they may actually be unloading to you, and making money at your expense.

This proves once again that punting is simply a game of musical chairs for adrenaline action, while on the other hand real trading skills are essential if one intends to trade for long-term success. I have attached a screenshot of my diversified portfolio below, and I will share more about it in the upcoming seminar next Wednesday.

Are you one of those burnt by recent hot tips? Or are you stuck holding large losses?
And more importantly, how will the market fare after this bloodshed?

Join us this coming Wednesday for a live market outlook. Limited to the 1st 30 sign-ups.
Check availability: https://www.eventbrite.sg/event/8233808543

 

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Spencer Li is a trader, investor and entrepreneur who currently manages his own portfolio of stocks, REITs, currencies, cryptocurrencies, properties, and 10+ businesses across different industries, while providing consultancy services to individuals & corporations. As a former professional in private equity and proprietary funds, he has over 10 years of market experience, and has been featured on more than 20 occasions in the media.

3 replies
  1. Michael
    Michael says:

    Good profit for those who cashed out .
    But a disaster for those who hold.

    Who says holding the investment will save you ?
    well , if you hold for another 2 years, it will go up again . so, don’t be despair.
    Don’t dump now. Hold !!

    Reply

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