Friday, November 5, 2010

Contra loss story of a young man


   The 27-year-old Singapore engineering studentMr Chan was betting on the Singapore stock market, and managed to pick the shares whose prices rocketed in the last bull run before market crash(2008).

   Buoyed by the success, his father was convinced that his only son had a Midas touch. So, he gave his son$300,000 - his whole life savings - to invest in shares.

   That was two years ago.

   Today, Mr Chan has not only lost his entire father's savings, he has incurred another $320,000 in trading losses.
  
    When the global market went through a sudden meltdown, so did his luck and fortune. He said: 'Everything bombed in just 48 hours. My life, my future... and now, even my parents could lose their home.'  In three short months of trading, Mr Chan has lost about $700,000.

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