WEBVTT - Why investing is like learning to ride a bicycle | EP 11

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<v Speaker 1>This is a C. N. A podcast

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<v Speaker 2>in a few words, could you give us your thoughts

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<v Speaker 2>on the following

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<v Speaker 2>retiring in Singapore expensive but worth it by investing, definitely

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<v Speaker 2>worth it. But you have to learn how to do

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<v Speaker 2>it first. Financial advisors be careful about who is going

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<v Speaker 2>to be advising you and trust. But verify versus unit trusts. Oh,

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<v Speaker 2>for sure any day, ideal retirement amount depends on your lifestyle.

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<v Speaker 2>In my case, excessive amounts of money. We all wish that.

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<v Speaker 2>Thanks for joining us on money talks. I'm Sarah Khaldi.

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<v Speaker 2>Many of you have said you want to invest but

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<v Speaker 2>don't know how you've given us positive feedback on our

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<v Speaker 2>first episode on the importance of investing. But we've also

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<v Speaker 2>got questions about how to go about it. The golden

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<v Speaker 2>rule is don't do anything you don't understand. So we've

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<v Speaker 2>brought back David, co co founder of the smart investor.

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<v Speaker 2>To help you understand how you should put your money

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<v Speaker 2>to work

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<v Speaker 2>for those of you guys who haven't heard our last

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<v Speaker 2>chat with David, it is the first episode of this podcast.

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<v Speaker 2>Go check it out. It talks about why we need

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<v Speaker 2>to invest. But David, could you give us a brief

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<v Speaker 2>recap of why we have to start thinking and planning

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<v Speaker 2>for our retirement and not leave it to chance? Well,

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<v Speaker 2>I think the sooner you invest, the sooner you start

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<v Speaker 2>thinking about what is going to happen on that day

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<v Speaker 2>when you are no longer working

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<v Speaker 2>It is vital. And for some people, that period of

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<v Speaker 2>time could be 30 or 40 years and for other

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<v Speaker 2>people it could be relatively shorter. The problem is if

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<v Speaker 2>the time that you have to start investing starts to shorten,

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<v Speaker 2>it really means that you need to take greater risks

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<v Speaker 2>with your money and nobody wants to take a great

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<v Speaker 2>amount of risk. So the simple rule is, you need

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<v Speaker 2>to know where you are today, how much money you

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<v Speaker 2>have available to you today

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<v Speaker 2>And what you think you will need on that day

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<v Speaker 2>when you are no longer working and will you be

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<v Speaker 2>able to enjoy the same lifestyle on retirement day plus

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<v Speaker 2>one compared to retirement day -1?

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<v Speaker 2>And what you don't want to do is to see

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<v Speaker 2>a drastic drop in your standard of living and having

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<v Speaker 2>to make major cutbacks simply because you no longer have

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<v Speaker 2>a salary. So the important thing is to know where

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<v Speaker 2>you are now, where you want to be on that

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<v Speaker 2>day and how you are going to get there. And

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<v Speaker 2>of course as with most things Sarah, if you are

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<v Speaker 2>going on a journey, if you leave early, then of

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<v Speaker 2>course you're not going to be pressured because you are

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<v Speaker 2>worried you're not going to get

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<v Speaker 2>to your destination on time. Just like today coming in

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<v Speaker 2>to do this podcast with you. I left home early

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<v Speaker 2>and so therefore I arrived 15 minutes early and that

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<v Speaker 2>is a nice situation to be in. What you don't

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<v Speaker 2>want to do is to be in the back of

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<v Speaker 2>a car, telling the driver can you go faster faster

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<v Speaker 2>please Because I have an interview at 10 30 he goes,

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<v Speaker 2>well it's already 10 20 now. How much faster do

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<v Speaker 2>you want me to go? And I think that really

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<v Speaker 2>is the secret. The earlier you start, the more comfortable

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<v Speaker 2>will be your journey.

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<v Speaker 2>If this is all too overwhelming. David for some of

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<v Speaker 2>our listeners, should they get an advisor to help them

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<v Speaker 2>with investments? I'm talking about a human advisor, a person

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<v Speaker 2>there who they can talk to, they can sit with.

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<v Speaker 2>Is there any value in getting an advisor when technically

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<v Speaker 2>you can do it yourself. Right. There is this wonderful

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<v Speaker 2>thing at the moment that came about in the year

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<v Speaker 2>2000 Sarah. It's called the Internet

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<v Speaker 2>and what it allows you to do is to look

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<v Speaker 2>for free at the different kinds of experts, advice on

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<v Speaker 2>what to do with your money. But then I must

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<v Speaker 2>urge people trust but verify in other words, there's no

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<v Speaker 2>reason why you shouldn't trust what a person says. But

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<v Speaker 2>verify that that person hasn't got a hidden agenda right?

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<v Speaker 2>There is no ulterior motive that they're not trying to

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<v Speaker 2>make money out of you.

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<v Speaker 2>So it is a learning process investing is simple. That

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<v Speaker 2>rule of 100 is a good place to start. It's

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<v Speaker 2>been around for centuries. So the rule of 100 just

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<v Speaker 2>to recap states that you take your age minus 100.

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<v Speaker 2>And that is the percentage of your investments you should

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<v Speaker 2>have in stocks and shares. So on day one you

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<v Speaker 2>are zero age, you should have 100% of your investments

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<v Speaker 2>in the stock market

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<v Speaker 2>As you get older then you should have less and

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<v Speaker 2>less in the stock market and increasingly more in bonds.

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<v Speaker 2>And by the time you get to 60, what you

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<v Speaker 2>should be having is 40% in the stock market, 60%

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<v Speaker 2>in bonds. It has stood the test of time and

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<v Speaker 2>what it really says is that you should be investing

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<v Speaker 2>your money in the stock market and you should be

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<v Speaker 2>picking good companies. And here in Singapore we have this wonderful.

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<v Speaker 2>organization called and we also have another wonderful organization called

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<v Speaker 2>SGX that aims to make sure that whatever investments we choose,

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<v Speaker 2>that they are properly regulated and they ensure that there

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<v Speaker 2>is nobody out there who is going to be cheating you.

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<v Speaker 2>So everything is well audited, everything is well regulated and

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<v Speaker 2>the same for which I cannot say about other jurisdictions

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<v Speaker 2>where they tend

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<v Speaker 2>to fly by night in some ways. But here in Singapore,

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<v Speaker 2>we can trust that both M. A S and S. G. X.

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<v Speaker 2>And the other regulators are looking very closely at companies

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<v Speaker 2>that are listed on the stock market that they're not

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<v Speaker 2>there to cheat people and if they are cheating people,

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<v Speaker 2>you can guarantee that they will be delisted and they

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<v Speaker 2>will have their knuckles rapped. So what can you do

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<v Speaker 2>should you go to an advisor, you can talk to

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<v Speaker 2>your bank, listen to what they have to say

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<v Speaker 2>and then talk to someone else and listen to what

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<v Speaker 2>they have to say and

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<v Speaker 2>make your own mind up afterwards. But I have always

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<v Speaker 2>believed in managing my own finances, luckily I work in

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<v Speaker 2>an industry where I can do that and I've been

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<v Speaker 2>able to advise my own two Children about where they

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<v Speaker 2>should be putting their money and thankfully for them. I

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<v Speaker 2>don't charge them for my advice,

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<v Speaker 2>but I just guide them in the right direction. And

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<v Speaker 2>the most fascinating things there is that they know what

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<v Speaker 2>the answer is. They know what the answer is even

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<v Speaker 2>before I tell them and all I simply do is

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<v Speaker 2>to give them that additional level of confidence that what

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<v Speaker 2>they're doing is the right thing. And I think most

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<v Speaker 2>of us know what we need to do.

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<v Speaker 2>We mustn't listen to people who tell us, oh, go

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<v Speaker 2>buy this share because I made 20% on this last week.

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<v Speaker 2>So you go in and buy why is he telling

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<v Speaker 2>you this right? Why would he want to tell you

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<v Speaker 2>something like that? Ask yourself that question. And one of

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<v Speaker 2>the things I've always learned is to ask the question why?

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<v Speaker 2>All the time, Every time somebody says something I say,

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<v Speaker 2>why

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<v Speaker 2>and then eventually you will get to the truth. And

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<v Speaker 2>the answer is because I want to make money from

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<v Speaker 2>you right so never trust anybody, never take anything at

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<v Speaker 2>face value and trust your gut because it is telling

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<v Speaker 2>you things, what we're living in now is a very

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<v Speaker 2>uncertain environment, inflation is rising, there is a lot of

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<v Speaker 2>uncertainty in the market

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<v Speaker 2>And this uncertainty started in about probably more 2008 than

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<v Speaker 2>2000 when huge amounts of money was pumped into the

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<v Speaker 2>global economy. And what we're seeing now is money being

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<v Speaker 2>withdrawn from the global economy.

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<v Speaker 2>And so Warren Buffett once said when the tide goes

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<v Speaker 2>out we'll know who's been swimming naked and as awful

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<v Speaker 2>as that analogy is and it paints a really bad picture.

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<v Speaker 2>But what really means is that people have been putting

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<v Speaker 2>their money into certain investments that have been excessively risky

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<v Speaker 2>and as that money comes out then what we're going

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<v Speaker 2>to see is who is swimming naked and there will

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<v Speaker 2>be lots of companies that will be exposed for being

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<v Speaker 2>overly risky.

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<v Speaker 2>We're already seeing that in cryptocurrencies and N. F. T. S.

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<v Speaker 2>What about robo advisors, David? Is there a case for that?

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<v Speaker 2>I think there is a case and I think there

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<v Speaker 2>is certainly a case for making investing as simple as possible.

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<v Speaker 2>But what robo advisors tend to do is they will

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<v Speaker 2>just try and assess your risk profile and they will

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<v Speaker 2>say oh David is less risk averse than Sarah. And

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<v Speaker 2>so therefore the investments that

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<v Speaker 2>the robo advisor will be trying to put you into

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<v Speaker 2>our less risky investments. In the case of David, wow

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<v Speaker 2>my goodness, this guy is off the scale in terms

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<v Speaker 2>of his risk profile. So we can afford to put

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<v Speaker 2>him into more risky investments because he doesn't really care right.

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<v Speaker 2>So let's take him into NASDAQ. Let's take him into

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<v Speaker 2>emerging markets because he can't

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<v Speaker 2>tolerate that risk. But in the case of Sarah she

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<v Speaker 2>is far more sensible, more scared. Well call it call

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<v Speaker 2>it sensible and she doesn't really want to lose as

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<v Speaker 2>much of her money. So let's recommend for her slightly

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<v Speaker 2>less risky investment And let's recommend for her more bonds.

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<v Speaker 2>That kind of stuff. You can buy E. T. F.

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<v Speaker 2>In bonds. Let's put her into those and we're less

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<v Speaker 2>likely to scare her completely witless as a result of

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<v Speaker 2>her investment. But in the case of David, well if

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<v Speaker 2>we give him bonds, he's going to snooze, he's going

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<v Speaker 2>to go to sleep so he's not going to be

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<v Speaker 2>that engage. So there's nothing wrong with robo advisors. And

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<v Speaker 2>what I can say is that

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<v Speaker 2>your risk profile will change over time as you become

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<v Speaker 2>more comfortable with your investment. You will want to take

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<v Speaker 2>on more risk. It's just a fact of nature. So

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<v Speaker 2>you could start with robo advisors and just see how

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<v Speaker 2>they do things and once you've learned how to do

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<v Speaker 2>it then you don't need them anymore. You can go

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<v Speaker 2>and do it yourself.

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<v Speaker 2>Hi, my name is steve Lie and I'm Teresa Tang

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<v Speaker 2>and we are the hosts of the new podcast CNN

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<v Speaker 2>correspondent from new york to Bangkok, join us as we

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<v Speaker 2>kick back and chat with our colleagues across the globe

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<v Speaker 2>about the latest news developments. Look out for our weekly

0:10:42.270 --> 0:10:44.540
<v Speaker 2>episodes wherever you get your podcasts.

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<v Speaker 2>If you want to start investing yourself, Exchange traded funds

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<v Speaker 2>are usually a popular place to start and the first

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<v Speaker 2>step is really by going to a brokerage. Right? Absolutely, yeah.

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<v Speaker 2>In the case of the E. T. F. It behaves

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<v Speaker 2>like a share, it is traded like a share. And

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<v Speaker 2>so therefore you need a brokerage in order to buy

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<v Speaker 2>the exchange traded fund.

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<v Speaker 2>So you need to go out and find yourself a

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<v Speaker 2>reliable broker and there are so many here in Singapore

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<v Speaker 2>and they will open your account for you. The account

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<v Speaker 2>opening process these days is a lot easier than 10

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<v Speaker 2>years ago when I first came to Singapore. The process

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<v Speaker 2>I would say is very streamlined now and many of

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<v Speaker 2>the brokers here will be able to open an account

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<v Speaker 2>for you. What you need to watch. However, is the

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<v Speaker 2>kind of fees that the broker will charge you and

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<v Speaker 2>it does vary from one brokerage to another.

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<v Speaker 2>And the beauty of opening the brokerage account is you

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<v Speaker 2>can first of all start investing in the E. T. F.

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<v Speaker 2>Then as you get a little bit braver, then you

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<v Speaker 2>can start saying already have the E. T. F. Why

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<v Speaker 2>don't I add a few more shares to my investment?

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<v Speaker 2>And it is a bit like when you're riding a bicycle,

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<v Speaker 2>when I first learned how to ride a bicycle, you

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<v Speaker 2>had two stabilizer wheels behind you that helped you to ride.

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<v Speaker 2>And then as you get braver, you take the stabilizers off.

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<v Speaker 2>And that very much is the analogy with investing with

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<v Speaker 2>exchange traded funds.

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<v Speaker 2>And what would you say to those who are comfortable

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<v Speaker 2>in investing in E. T. F. S. Or stocks, but

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<v Speaker 2>are thinking twice about letting go of their money to brokerages?

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<v Speaker 2>Like how do you pick a reliable and safe broker? Well,

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<v Speaker 2>there are two issues there, Sarah. The first one is,

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<v Speaker 2>is your money safe? And

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<v Speaker 2>what you need to remember is if you put your

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<v Speaker 2>money in with a brokerage, that money is ring fenced,

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<v Speaker 2>it doesn't belong to the brokerage. So it's a bit

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<v Speaker 2>like if you went and opened a trading account with dbs,

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<v Speaker 2>the trading arm of dbs is called dbs Vickers and

0:12:50.230 --> 0:12:53.690
<v Speaker 2>that is a separate entity to dbs itself. But the

0:12:53.690 --> 0:12:58.050
<v Speaker 2>money that you put into dbs Vickers is ring fenced.

0:12:58.059 --> 0:12:58.760
<v Speaker 2>If

0:12:58.929 --> 0:13:02.590
<v Speaker 2>heaven forbid the brokerage were to go bust your money

0:13:02.590 --> 0:13:07.180
<v Speaker 2>is separate, right? Your money is completely separated from the

0:13:07.179 --> 0:13:11.099
<v Speaker 2>entity itself. So anything could happen to the brokerage. But

0:13:11.100 --> 0:13:13.700
<v Speaker 2>your money is hypothesis stated in other words, is ring

0:13:13.700 --> 0:13:17.520
<v Speaker 2>fenced and that is protected. So therefore you probably have

0:13:17.520 --> 0:13:21.970
<v Speaker 2>more protection with the money that you have in shares

0:13:22.020 --> 0:13:24.990
<v Speaker 2>than you would with your money in the bank because

0:13:24.990 --> 0:13:26.970
<v Speaker 2>a lot of people may not know this, but there

0:13:26.970 --> 0:13:28.690
<v Speaker 2>is a bank guarantee

0:13:28.830 --> 0:13:32.010
<v Speaker 2>that only guarantees the amount of deposit you have with

0:13:32.010 --> 0:13:35.620
<v Speaker 2>them to a certain limit. But in the case of shares,

0:13:35.670 --> 0:13:38.720
<v Speaker 2>it is unlimited. So you could have a million dollars

0:13:38.720 --> 0:13:42.890
<v Speaker 2>in shares, but those shares belong to you, right? And

0:13:42.900 --> 0:13:46.550
<v Speaker 2>with these brokerages, is it possible to use your CPF

0:13:46.559 --> 0:13:51.300
<v Speaker 2>money to invest? It really depends on the broker itself,

0:13:51.470 --> 0:13:55.500
<v Speaker 2>there are preferred brokers from CPF, you'll have to sign

0:13:55.500 --> 0:13:59.050
<v Speaker 2>certain forms because what they're doing is they're accessing your

0:13:59.050 --> 0:14:03.439
<v Speaker 2>CPF money and so they need to be registered to

0:14:03.450 --> 0:14:07.020
<v Speaker 2>access your CPF funds and then just carry on do

0:14:07.020 --> 0:14:09.280
<v Speaker 2>what you do. So then you can start investing your

0:14:09.280 --> 0:14:11.730
<v Speaker 2>CPF money, there is only a certain amount that you

0:14:11.730 --> 0:14:15.349
<v Speaker 2>can invest in your CPF of your CPF money

0:14:15.470 --> 0:14:18.220
<v Speaker 2>and there are only certain shares that you can invest

0:14:18.230 --> 0:14:21.960
<v Speaker 2>with your CPF money. So what the Central provident Fund

0:14:21.960 --> 0:14:24.640
<v Speaker 2>wants to do is to protect you in some way

0:14:24.640 --> 0:14:27.310
<v Speaker 2>and say, don't just run off with all your CPF

0:14:27.310 --> 0:14:30.330
<v Speaker 2>funds and go and buy penny stocks with it because

0:14:30.340 --> 0:14:31.460
<v Speaker 2>then you'll end up with nothing.

0:14:31.480 --> 0:14:34.530
<v Speaker 2>So they have a preferred list of shares that they

0:14:34.530 --> 0:14:37.400
<v Speaker 2>have vetted and going back to your other point, check

0:14:37.400 --> 0:14:40.030
<v Speaker 2>with your broker, if you can use your CPF funds,

0:14:40.030 --> 0:14:44.370
<v Speaker 2>not all brokers can use your CPF money. What about taxes,

0:14:44.380 --> 0:14:47.490
<v Speaker 2>do we need to pay taxes in any

0:14:47.640 --> 0:14:51.800
<v Speaker 2>money that we make in these investments, particularly the ones

0:14:51.810 --> 0:14:56.420
<v Speaker 2>we make here in Singapore and any US listed stocks,

0:14:56.420 --> 0:15:00.160
<v Speaker 2>for example, because those are quite popular nowadays, if you

0:15:00.160 --> 0:15:04.950
<v Speaker 2>buy and own Singapore stocks, there is no tax on dividends,

0:15:04.960 --> 0:15:07.930
<v Speaker 2>there is no tax on the capital that you make,

0:15:07.930 --> 0:15:09.620
<v Speaker 2>so no capital gains tax

0:15:09.780 --> 0:15:12.280
<v Speaker 2>At the moment. Singapore has the rule that there is

0:15:12.280 --> 0:15:15.580
<v Speaker 2>no dividend tax and there is no capital gains tax,

0:15:15.590 --> 0:15:18.630
<v Speaker 2>so you don't have to worry about taxes here in Singapore.

0:15:18.890 --> 0:15:24.370
<v Speaker 2>Unfortunately if you buy shares in other jurisdictions, then there

0:15:24.370 --> 0:15:27.530
<v Speaker 2>may be withholding tax and in the case of the

0:15:27.530 --> 0:15:32.040
<v Speaker 2>US there is a 30% withholding tax on dividends paid,

0:15:32.100 --> 0:15:35.390
<v Speaker 2>but there is no capital gains tax. So each jurisdiction

0:15:35.390 --> 0:15:36.150
<v Speaker 2>is different

0:15:36.340 --> 0:15:39.700
<v Speaker 2>in Hong kong. If you buy Hong kong listed shares,

0:15:39.710 --> 0:15:43.620
<v Speaker 2>there is no tax, but if you buy chinese companies

0:15:43.620 --> 0:15:46.180
<v Speaker 2>that are listed in Hong kong, there is a withholding

0:15:46.180 --> 0:15:49.790
<v Speaker 2>tax on dividends and if you buy japanese shares that

0:15:49.790 --> 0:15:52.500
<v Speaker 2>are listed in Hong kong, there is a withholding tax,

0:15:52.510 --> 0:15:55.770
<v Speaker 2>so it is different for different jurisdictions. If you buy

0:15:55.770 --> 0:15:57.640
<v Speaker 2>Malaysian shares, there is no capital gain

0:15:57.663 --> 0:16:02.273
<v Speaker 2>tax, but if you own reits in Malaysia, there is

0:16:02.283 --> 0:16:07.653
<v Speaker 2>withholding tax on the income portion of the distributions that

0:16:07.653 --> 0:16:11.433
<v Speaker 2>they pay. So there are different rules for different jurisdictions,

0:16:11.433 --> 0:16:14.613
<v Speaker 2>but if you stick to the simple Singapore stocks, no

0:16:14.613 --> 0:16:18.963
<v Speaker 2>tax on dividends, no capital gains tax unless you buy

0:16:18.986 --> 0:16:22.246
<v Speaker 2>through a company, then it's different rules altogether. But for

0:16:22.246 --> 0:16:26.336
<v Speaker 2>individuals keep it simple by Singapore stocks and then you

0:16:26.336 --> 0:16:29.016
<v Speaker 2>don't have to pay tax on any money you make

0:16:29.026 --> 0:16:31.146
<v Speaker 2>and you don't have to pay tax on any income

0:16:31.146 --> 0:16:34.816
<v Speaker 2>that you earn from dividends. Some people get caught up

0:16:34.816 --> 0:16:38.276
<v Speaker 2>in the fees, get caught up in possible taxes in

0:16:38.286 --> 0:16:40.290
<v Speaker 2>overseas listed instruments.

0:16:40.470 --> 0:16:43.380
<v Speaker 2>How do you ensure that you don't lose out on

0:16:43.390 --> 0:16:46.370
<v Speaker 2>having to pay all these fees in the end, after

0:16:46.370 --> 0:16:50.940
<v Speaker 2>all the gains that you have? Well, unfortunately if there

0:16:50.940 --> 0:16:56.040
<v Speaker 2>are taxes on dividends, then the taxes will already be

0:16:56.040 --> 0:16:59.420
<v Speaker 2>deducted before it is actually paid to you here in Singapore.

0:16:59.430 --> 0:17:03.520
<v Speaker 2>So if I was buying shares in Microsoft or Apple

0:17:03.520 --> 0:17:06.170
<v Speaker 2>or one of those companies and they pay a dividend,

0:17:06.369 --> 0:17:10.230
<v Speaker 2>The US government will already deduct the 30% withholding tax.

0:17:10.240 --> 0:17:12.970
<v Speaker 2>And then what remains is then credited to your account

0:17:12.970 --> 0:17:16.040
<v Speaker 2>over here. So if taxes already taken care of, so

0:17:16.040 --> 0:17:18.210
<v Speaker 2>you don't have to worry too much about that. But

0:17:18.220 --> 0:17:21.409
<v Speaker 2>you talk about fees and you talk about charges, there

0:17:21.410 --> 0:17:22.300
<v Speaker 2>is one thing

0:17:22.310 --> 0:17:26.090
<v Speaker 2>that investors should be aware of when they are using

0:17:26.090 --> 0:17:29.159
<v Speaker 2>a brokerage, which is the kind of information that the

0:17:29.160 --> 0:17:32.409
<v Speaker 2>broker is able to give you. What I'm talking about

0:17:32.410 --> 0:17:36.119
<v Speaker 2>is the data that is available. Data is a very

0:17:36.119 --> 0:17:41.540
<v Speaker 2>precious commodity. And different brokerages will give you a certain

0:17:41.540 --> 0:17:44.820
<v Speaker 2>level of data. And I'm not talking about trading data,

0:17:44.820 --> 0:17:48.760
<v Speaker 2>I'm talking about financial data on the companies that you

0:17:48.760 --> 0:17:49.730
<v Speaker 2>are interested in.

0:17:49.910 --> 0:17:52.780
<v Speaker 2>You want to know how the company has performed financially,

0:17:52.790 --> 0:17:55.700
<v Speaker 2>has it been making profits? And those kind of things

0:17:55.710 --> 0:17:59.330
<v Speaker 2>are probably more important to me as an investor than

0:17:59.340 --> 0:18:01.730
<v Speaker 2>it is to a trader. A trader just wants to

0:18:01.730 --> 0:18:04.260
<v Speaker 2>see the price chart and how it's going up, how

0:18:04.260 --> 0:18:06.290
<v Speaker 2>it's going down. But in my case, I want to

0:18:06.290 --> 0:18:08.410
<v Speaker 2>have a look at the history of the company. I

0:18:08.410 --> 0:18:10.010
<v Speaker 2>want to go back as far as possible

0:18:10.270 --> 0:18:13.379
<v Speaker 2>and say, how did this company perform in terms of

0:18:13.480 --> 0:18:16.750
<v Speaker 2>its profit performance? What is this balance sheet look like?

0:18:16.760 --> 0:18:21.680
<v Speaker 2>And different brokers will have different levels of regularity in

0:18:21.680 --> 0:18:24.440
<v Speaker 2>terms of the information that they give you. So what

0:18:24.440 --> 0:18:28.250
<v Speaker 2>you're paying for in certain cases is that data, that

0:18:28.260 --> 0:18:30.050
<v Speaker 2>information that is available

0:18:30.150 --> 0:18:33.189
<v Speaker 2>and how you go about analyzing the company. Thank you

0:18:33.190 --> 0:18:36.590
<v Speaker 2>so much David for giving us insights into how to

0:18:36.600 --> 0:18:40.560
<v Speaker 2>go about starting our investment journey and where to go

0:18:40.560 --> 0:18:45.000
<v Speaker 2>really to start buying and putting our money into investments.

0:18:45.000 --> 0:18:50.270
<v Speaker 2>Thanks for your time. You're welcome and start today. Yes, thanks.

0:18:53.660 --> 0:18:56.590
<v Speaker 2>We hope you enjoyed this episode of money talks the

0:18:56.590 --> 0:19:00.920
<v Speaker 2>team behind this podcast is Jacqueline chan Joanne chan Danieli

0:19:00.920 --> 0:19:04.420
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0:19:14.240 --> 0:19:17.030
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0:19:17.030 --> 0:19:19.619
<v Speaker 2>to share. Please write to us. The details are in

0:19:19.619 --> 0:19:22.840
<v Speaker 2>our episode notes. Until next time. This is Sarah al Khaldi.