SINGAPORE - 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 Goh Eng Yeow told a crowd of 420 people in the fourth instalment of the askST@NLB series on Friday night (Oct 27). This is the most popular session since the series was launched in July.
Just as in 2006, "the global economy is (now) growing", he said. "I expect the market to continue running well next year."
At the AskST@NLB talks, readers get to pose questions to ST journalists on topics ranging from health to sports. At the latest session, queries are mainly 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 Economics Prize 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 should invest in, as a recent retiree.
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 columns. "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 NLB. Each session, 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 was conducted by The Straits Times' assistant sports editor Rohit Brijnath.