Dennis Warned About This A Few Months Before Finance Minister...
Welcome to the 108th Issue of Weekly e-newsletter by www.HousingLoanSG.com This week I like to share with you "Dennis Warned This A few Months before Finance Minister…"
Sometimes when I look back at what I’ve written, it is very interesting. Recently, Tharman (Singapore Finance Minister) and our Prime Minister Lee warned that the global economy might see a “W” shape recovery, something I warned about a few months ago (see below).
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Said Dennis Ng, director of Leverage Holdings and founder of www.HousingLoanSG.com : "What we see in 2009, Singapore is in a recession the unemployment figure is about five per cent, people are getting pay cuts some people are getting retrenched.
"So the overall economic situation is not actually very healthy. But if we look at the red hot property market we may actually think that Singapore is in very good times. So I think there is a mismatch in the economic fundamentals and some of the property prices in Singapore." For instance, in year 2007, a new condo development named Casa Merah at Tanah Merah was only launched at S$610 psf, much lower prices than Optima.
A simple way to reduce risks is to diversify your investments, do not put all your money into stock markets or unit trusts alone.
For instance, in the event of a stagflation, ie. Global economy remain stagnant but inflation goes up, the prices of “real assets” would go up. My investments into Gold and Silver, Land Investments and French Fine Wine would do very well.
In the event stock markets continue to go up, my 30% allocation to stock markets would also make me money. In the event that the economic recovery is “W” shape, ie. Prices might drop again in the months again, I can use the Opportunity Fund I have to go into markets to bargain hunt.
I have positioned myself to win and to make money no matter which scenario happens.
With countries all over the world pumping money into their economies, this will lead to currencies losing its value, and with the world in turbulence, more and more people would start to switch some of their money into Gold, as Gold is a safe haven especially in times when currencies take a tumble.
In recent months, oil prices have crashed by 70% from US$148 to about US$44. On the other hand, Gold prices stood firm above US$800 despite the fall in oil prices. Year 2009 might see Gold prices rising above US$1,000 the historical high.
As some people might already know, for more than 2 years, I've spoken about why I invested 8% of my money into Gold and Silver, as a possible "insurance" (hedge) against Global Uncertainties, especially possibility of a stagflation.
As some might also know, I have some investments denominated in US$. Thus, how do I mitigate the risks of a possible devaluation of the dollar? By having some money into Gold and Silver.
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Cheers!
Dennis Ng on behalf of
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