From Bro. Bo Sanchez Truly Rich Club
Since yesterday, members have been
asking me, “Bo, what will happen to the stock market with a BBM Presidency?”
Some were panicking.
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| (photo credit to owner) |
One person asked me if she should
sell all her stocks!
I told her, “Following your emotions
is the downfall of all investors.”
I’m sure you’ve read in the news that
the market dropped by 3% at opening (though the market recovered and closed at
-0.56%). But in fact, the market has been declining since February, and no,
it’s not because of our politics but global forces that’s causing the downward
trend.
Some people told me, “But Bo,
foreigners are dumping Philippine stocks!”
Sadly, foreigners have been selling
the Philippines for a decade now. We’ve not just been very interesting to
foreign funds.
As Investment Banker Stephen Cuunjieng
said in an ANC Interview recently, Global Funds don’t care about the elections
of a small third-world country like the Philippines. Because we don’t affect
them. We’re not a major importer, nor are we a major exporter, except for our
OFWs. This isn’t to pick on the Philippines. The harsh reality is the economic
powers don’t care for two-thirds of the countries of the world. We’re just a
blip in the margins.
I repeat: Since February, we’ve been
telling our TRC members that the stock market has already been going down
because of the Russia-Ukraine war, the rise of commodity prices, and the rising
ten-year US treasury interest rates.
Someone also showed me a news article
about JP Morgan downgrading the Philippines to “underweight”. But as our mentor
Edward Lee says, the Philippines has been downgraded for 7 years now. It’s only
the OFW remittances that have kept our ratings high enough.
Why do I listen to Edward?
Because our mentor has been in the
Philippine stock market for 47 long years. He’s seen it all—regime changes,
global meltdowns, natural calamities, coups and revolutions—and he’s stayed the
course. He’s invested through every crisis. And he’s done handsomely well.
Don’t obey your fear. Especially in
your investing.
Think about what you are doing: You
are not “playing” the stock market. You are buying good businesses that are 50,
100, 150 years old. Under various administrations, they continued to prosper.
We believe they will continue to prosper.
In the meantime, we must keep
investing in the best companies of the Philippines at a discount (that’s why we
have buy-below-prices), especially when there’s a crisis, and over time, we’ll
become millionaires.
Right now, we’re in a global crisis.
By training, we always look at crisis
as an opportunity.
Real investors see this as an
opportunity, not a threat.
So keep investing.
Quoted in full from
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