Financially speaking, August 2 and 3 were the best days of my life this year! I was able to learn a lot of things regarding finance, what to invest, and how to charge up investments. The summit in Cebu City was held in the Arctic Room of Waterfront Hotel. The summit invited a lot of speakers of which are experts in their respective fields. I will name them one by one later. Before I continue, I would like to thank Mr. Heinz Bulos of Learning Curve and Tito Tony Hilado, Tita Gloria Hilado, Lovely Hilado, Jan Mck Hilado, Hanz Florentino, Joel Earl Melgo, and Clint Imperial of Business Incubators for making the summit possible for me and for those who attended it.
The first day was great! It started with the ribbon cutting ceremony, which was spearheaded by Mr. Rex Mendoza, Mr. Mario Miranda, Miss Ma. Theresa Javier, Miss Jocelyn Sta. Ana, Mr. Noel Altamirano, and Mr. Heinz Bulos. Oh boy! It was sure good to see them in one place! After the ribbon cutting ceremony, there was a press conference. The Money Summit Cebu has been officially started!
The Money Summit started with Mr. Gregg Tan, Application Specialist - Technical Analysis of Bloomberg LP. He started his career in Bloomberg in 2000. Prior to this, Gregg has been in the financial market since 1980. He has worked on the Bullion, FX, Futures, Equities Desk and on SIMEX Floor. He discussed about "How to become a Successful Trader." He was very amusing because he gave a lot of insight about how it was like working in the financial industry. He often gave out jokes and made the audience laugh. Here are some notes from his lecture:
A Successful Trader
- Knows the motive for trading
- Understands Greed, Hope, and Fear
- Understands the risks involved
- Is discerning
- Is committed , focused and patient
- Objective over investment horizon
- Cuts losses fast and maximizes profits
- Does not over-trade
- Has a clear trading plan
The second speaker for the summit was Mr. Rex Mendoza. He is the President and CEO of the Philippine American Life and General Insurance Co. (Philam Life). He holds various positions within the Philam Group such as Vice Chairman of BPI-Philam Life Assurance Corporation (BPLAC), Chairman of the Philam Insurance Agency & Call Center Services, Inc. (PIACCSI), Chairman of the Philam Equitable Life Insurance Company, Inc. (PELAC), Chairman of the Philam Foundation, Inc. and Director of the Tower Club Inc. Previous to his current position, Mr. Mendoza was Senior Vice President and Head of the Corporate Marketing and Sales Group of Ayala Land, Inc. He discussed about The Investor Mindset. He was very funny too! He is now one of my financial idols! Here are some notes from his lecture:
The Investor Mindset
- Anchoring - a subtle human tendency to depend on one fact, relevant or not, as a reference point for decisions
- Loss Aversion - reason why people hold losing stocks longer than winning stocks
- Overconfidence -most confident investors (heavy traders) posted results far below less-sure investors
- Sunk-Cost Fallacy - there is a proper evaluation of risks and value which does not have to change because of your perceived exposure.
- Anchoring - one of the psychological decision traps
- Psychic income - the biggest money is made on long term investments and not on short term trading
- Man at work
- Man and Money at work
- Money at work
You should match your assets and liabilities!
The third speaker for the summit was Mr. Mario Miranda. He is the Vice President and Head of Wealth Management of the Asset Management and Trust Group of the Bank of the Philippine Islands. He is tasked to spearhead the bank's Asset Management and Trust Group's (AMTG's) aggressive shift towards the rapidly growing retail market. He discussed that investing should be part of our daily lives, just like brushing our teeth. Here are some notes from his lecture:
Eat, Sleep, Work, Invest
Investing is not only for the rich!
7 Basic Concepts
- Know what you have
- Beat inflation
- Saving is not investing
- Investing is unique and personal
- Investing is not one sure thing but many things
- Timing does not work
- Investing is for life
- Lifestyle planning
- Education planning
- Retirement planning
The fourth speaker for the summit was Mr. Manuel Arengo. He is the founder of cebubesthomes.com. He is a real estate broker in the Philippines for about a decade already. Here are some notes from his lecture:
Strategies on Selling Real Estate Online
The challenge is to how to sell from offline to online!
10 A's of Email Marketing
- Avoid errors
- Address all concerns completely
- Ask questions sparingly but effectively
- Answer inquiries as soon as possible
- Attempt to close
- Adjust email settings for maximum effect
- Attach pictures properly
- Add links to provide more information
2 Biggest Problems for Agents/Brokers
- Need for immediate money for subsistence
- Lack of structural learning in real estate
- Too numerous real estate projects coming up
- How to effectively work online
The sixth speaker for the summit was Mr. Bryant William J. Cuizon. He gave us an update about Avida Land, a company of Ayala Land, and about real estate in general.
I will be uploading some videos soon. Please keep posted on this blog. I will also write Day 2 of this blog soon.
Mang-invest na ta!
(Translation: Let's invest!)