Hey everybody! Here’s the low down: Come to the Money Summit and Wealth Expo at the SMX near Mall of Asia on July 21! We’ve got an expo area (open to the public) where you can find out more details of where and how to invest, we’ve got a conference (paid entrance) where we have top financial experts share to us lessons in … life ;-) . We also have some public talks where we have short presentations from representatives of various financial services — FREE as well. If you can’t make it to the Manila run (Day 2 tomorrow!), join the Cebu run ;-) .
I had always wanted to attend the Money Summit since the first time I heard about it three years ago. This year, I decided to go. The universe conspired because I received an offer from one of the organizers that he’d give me a compli pass to the conference (worth P4,000+) if I could give him 20 names of interested attendees of the Expo. The universe *further* conspired when I reconnected with PSI friend Airick Daquiaog and he gave me guest passes to the conference for Rezza and myself. Ang galing talaga ni Lord! (looks up to the sky, says “Thank You Lord!“).
Day 1 of the conference was very rewarding for me. When I stepped in the conference, I immediately saw Rex Mendoza, President and CEO of Philamlife. I always love listening to Rex because he’s got a way with words, delivering so much sense and giving the audience a real wake-up call. He uses a lot of straightforward, no holds barred feedback on how some people approach investing and finances.
Rex Mendoza gave us some messages about
- Anchoring: tendency to depend on one fact – relevant or not – as a reference point for decisions
- Purchase price is not the real Worth. Price = *perception* of worth
- Value of a product = willingness of people to give their money to buy the product.
- Loss Aversion
- People do more to avoid pain than to gain pleasure.
- People change behavior because of forthcoming pain
- “Bad investments don’t count until you sell them.”
- Sunk-Cost Fallacy
- When you “win” at a casino table, it’s *your* money na. Don’t treat it like “windfall”. In the same way, when you make a gain in your investment, use it to achieve your financial objectives (don’t go out and spending it on a random purchase, e.g. an extra car).
- Forget how much you paid for a bond or stock. What matters is how much you think it is worth today. Hanging on to a stock of a losing company means *not* having the opportunity to buy a better company.
- Never invest in Yield! Invest in Financial Objectives.
- If Mommy Ain’t happy, no one ain’t happy. — use the earnings from your investments to fund your financial investments and make your family happy ;-) .
- Foreign investors are making the money. Business formerly based in China are relocating to Philippines.
- The country is moving forward! Are you part of it?
I got to chat with Rex later, catch-up ng konti. I learned recently that Rex is a PSI grad as well, one of the jurassic grads ;-) . Glad to hear from him that there’ll be more PSI batches in Philamlife in the coming months.
COL Finance (formerly Citisec Online)
I benefitted a lot also from the presentation of Conrado Bate, CEO of COL Finance.
He talked about the Discipline of Stock Investing
- Invest for the long term
- Invest regularly (do not invest lump sum)
- Invest using diversification
- Invest in good quality stocks
Good Quality Stocks: GEMS
- Growing Industry
- Earnings Visibility and Predictability
- Management Credibility
- Superior Product & Services
I got to chat with many people too, some new, some old friends. It’s always good catching up with friends, finding out how they’re doing, what they’re passionate about.
There’s a Day 2 of the Money Summit and Wealth Expo tomorrow, July 21 (See sched here) . We’re looking forward to talks by Leila Hernandez – author of The 9 to 5 Millionaire, Noli Alleje of the Property Forum, Mark So of Forex Club Asia. There’s also a Cebu Money Summit. So make sure to catch that if you’re in that area.
Okay, now here’s a photo gallery of some of our adventures at Day 1 of the Money Summit.
A photo with Event Host (aka “Program Manager”) Airick Daquioag, Organizer Heinz Bulos and Edwin … that’s me! First time I interacted with Heinz was in a previous life. I got featured in the Money Sense magazine through Heinz’s interview of me. Si Airick naman, we met at PSI seminar last year and it’s been a long time since we’ve planned to have coffee for a good conversation — now we got to do it over lunch at the Money Summit! Yey! Thanks for having me (and Rezza) as your guests!
Met Fitz Villafuerte at past blogger events. I was glad to hear that he was a speaker at the public talks. Raju was a teammate in Starshooters 69 while Scott was in the team that I coached (Starshooters 78!). We had some serious talk about Good Ole’ Book Swap (GOBS).
And then had this funny photo. When Raju suggested that we have our photo with the wall as our backdrop, I exclaimed: “Won’t we look like we’re in a police line-up?!” hahahaha!
And the highlight of the day! I met Lady Gaga at the Money Summit and Wealth Expo! Hahaha. All fun!
And by the way, had some photos of the Arena. It’s huge! Love the iconic architecture. Will see it from the inside when we attend the Kerygma Conference. Yey!
Tomorrow, looking forward to another productive day, this time with Rezza my love.
See you at the Money Summit and Wealth Expo!