Readers get tips on investing at askST

Senior correspondent Goh Eng Yeow addressing the audience yesterday in the fourth instalment of the askST@NLB series. The crowd of 420 was the largest so far in the series.
Senior correspondent Goh Eng Yeow addressing the audience yesterday in the fourth instalment of the askST@NLB series. The crowd of 420 was the largest so far in the series.PHOTO: AZIZ HUSSIN FOR THE STRAITS TIMES

The last Year of the Dog in 2006 brought bounty for savvy share investors as it saw the biggest stock market boom in over a decade.

The coming Year of the Dog should also be fruitful for investors, The Straits Times' senior correspondent, Mr Goh Eng Yeow, last night told a crowd of 420 people - the largest attendance so far - in the fourth instalment of the askST@NLB series.

Just as in 2006, "the global economy is growing. I expect the market to continue running well next year", he said.

At the AskST@NLB talks, readers get to pose questions to ST journalists on topics ranging from health to sports. Last night, queries mainly touched on the stocks that investors should look out for in the coming year.

Asked if the FAANG stocks - that is, Facebook, Amazon, Apple, Netflix and Google - were good investments, Mr Goh shared a story about Professor Richard Thaler, this year's winner of the Nobel Prize in economics for his work in behavioural economics.

"He said, 'If someone believes in a stock and buys into it, and it becomes very famous, a lot of people will also tend to jump in and buy that stock'," Mr Goh said.

One reader, Madam Sharon Hong, asked Mr Goh what she, as a recent retiree, should invest in.

Mr Goh encouraged her to make full use of her CPF Ordinary Account, especially with its high interest rate of 2.5 per cent per annum. He told her to keep her money there, and let the Government do the work for her.

"It was good to have someone to give me that advice," said the former executive secretary, 59. "I think he's experienced and seasoned enough to guide us safely."

Housewife Amelia Tay, 52, said she keeps herself up to date about financial matters and outlooks as a regular reader of Mr Goh's column. "It was surprisingly lively," said Madam Tay. "His answers were truthful and outright. I think he does a wonderful job educating Singaporeans in financial literacy."

The AskST@NLB sessions are a joint effort between ST and the National Library Board. Each session, held at the Central Public Library, runs from 7pm to 8.30pm. Registration starts at 6pm and the 15-to 30-minute talks are followed by a question-and-answer segment.

Last month's session featured The Straits Times' assistant sports editor, Mr Rohit Brijnath.

A version of this article appeared in the print edition of The Straits Times on October 28, 2017, with the headline 'Readers get tips on investing at askST'. Print Edition | Subscribe