7 Questions with Reshveen: Entrepreneurship and Investing 101 - Value Investing, Investment Strategies and More!About Reshveen Rajendran Reshveen is 23 years old and is the Founder of InvestingChamps Pte Ltd in Singapore. He's also a Trainer at Value Investing College and is an International Speaker. Reshveen is best known for his achievements of starting multiple businesses at the age of 23. He started his businesses with the intent of impacting millions of lives financially, physically and spiritually. He is also a very successful investor having built his portfolio to a six figure sum starting from only $5000 when he was 19. His portfolio spans stocks, properties and commodities. Today he is an international speaker impacting lives globally. Click Here to go to his website "Million Dollar Rush" for more info on what he does and his services! 1) In this gloomy financial market, what would be the best advice you can give to someone who doesn't know a thing about investing/ value investing, but who wants to get started at it? The best advice I would give to anybody wanting to get started is to firstly invest in yourself by finding a mentor who has achieved success in the markets to get guidance. The big issue I find with people who don't know anything is that they try to go onto the internet to figure things out themselves. Although this is a good start, the internet is filled with so much information that most people would naturally get lost. Invest in yourself. Stick to one method that suits your personality and do not get distracted. 2) What are the types of investments that you are investing in, and what tips can you share for first-timers who may want to follow your investment strategies? I'm personally mainly vested in stocks and options. I use "Value Investing". I invest for the long term and also use options for regular cash-flow. I personally would recommend this book: "Gone Fishing with Buffet" as a starting guide for value investing. it is the book I started with myself. 3) What do you feel is the current culture in Singapore towards entrepreneurship and investing? How important is it that one gets involved in these two areas? I feel that now more people in Singapore are getting bombarded with advertisements regarding trading or investing. It's in our faces almost every single day. It is very important to get started but it is equally important to understand the different methods and what suits you best. Entrepreneurship in my opinion is getting less popular as people want things given to them on a platter. Entrepreneurship though is tough work and it requires grit and perseverance. Many people do try it out, but not many last for very long. But ultimately I believe getting involved in either or both of these areas is of utmost importance as you would know that you simply cannot just rely on your job for income. 4) Share with us a story of how you lost heavily in investing and how did you find the courage and confidence to rebound and keep on going. This is an interesting story actually. It is not actually to do with investing in the stock market. Recently though I ventured into investing in private companies. It was a $20,000 investment into a friend's businesses with promises of good returns in a short period of time. I blindly trusted my friend and didn't do proper research and my usual homework. The investment turned sour and I found out that he was overly leveraged and just borrowing money to pay off debts. The entire investment came to nothing. An important lesson that I learned was that nobody cares about your money as much as you do. It would take me some guts to get back into investing in private companies again. Thankfully I stuck to my principles of not having all my eggs in one basket. It was only a portion of my investment portfolio. 5) What advice would you give to someone who is looking to start their own business but don't know where to start? Starting your own business requires many different skill sets. The first most important one you need is the ability to sell! Make sure you learn and have experience in selling products and services. I see many people with great products or services to offer but the sad thing is that they know nuts about sales. If you already do have experience in sales my advice in starting a business would be to first look at yourself. What are your strengths and passions? What particular skill or expertise can you turn into a profit? 6) What advice would you give to someone who wants to invest but has very little capital to get started? A good place to start which requires very little investment would be in Exchange Traded Funds (ETFs). They are basically a composite of 30 of the stronger blue chip stocks in Singapore. By investing in that ETF you immediately diversify, and it requires as little as $100 to start. You can get started by simply logging on to your ibanking site or by going down to an ATM machine. 7) How can one best cultivate the habits needed to become a savvy investor and entrepreneur? Watch the people you hang around with very closely. Always be in a network where you get to network with and connect to other investors and entrepreneurs. By doing so you always have a supportive network of people who talk about things which can help you grow as a person. Some of my best investments and most profitable ventures have come because of the ideas shared among my friends. I hope you enjoyed reading my post on "7 Questions with Reshveen: Entrepreneurship and Investing 101 - Value Investing, Investment Strategies and More!". "Like", "Comment" and "Share" this blog post with your friends - I'd be so happy and grateful for that! Stay tuned for more updates such as this... Follow me on Instagram @miltongohblog and connect with me on FaceBook by clicking here. You can also watch my videos on YouTube here. Remember to subscribe! Thanks for reading! Many Blessings, Milton Goh 7 Questions with Reshveen: Entrepreneurship and Investing 101 - Value Investing, Investment Strategies and More!
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AuthorHi I’m Milton Goh, I'm 31 years old and i'm a blogger who writes about Christianity, Parenting, Life Lessons that I learn from Movies/Shows, and Lifestyle. |