Insurance Investment

Why It’s Important to have an Accident Insurance

Our former “kasambahay” was accidentally hit by a car while she was walking across the street from the “sari-sari” store. She thought it wasn’t that bad because she only felt a mild pain on both her hands and her abdomen.

I’m actually having a hard time imagining and explaining how she got hit but according to her, her position was like of “super woman” with her two hands in front as if trying to stop the car from hitting her but she got hit in the end.

She tried to confront the driver who came out of the car angrily and instead of asking for apology, he acted as if he was the one who got hit. Our “kasambahay” said she got shocked with how the driver disrespected her that she missed to get the car’s plate number until he got back to his car and drove away.

The people who witnessed that simple accident said that it was the driver’s fault and not hers but no one took the initiative to get the plate number either. Thus we had no one to blame and get accounted for after all.

Days passed and our “kasambahay” had been consistently complaining about the pain on her hands and abdomen. What we thought of as a simple accident became serious and because of that we had to pay for her check-up and medications. She’s no longer working for our family but we still continue to give financial support when she needs help.

Remembering this incident made me think that having an accident insurance is really important. An accident is an unforeseen circumstance that occurs unintentionally and usually results in harm, injury, damage or loss. Nobody wants to be involved in an accident. And having an insurance doesn’t give us an assurance that we won’t get into any accident but it somehow gives us that sense of security that when something similar happens, we can get financial assistance through the benefits of the insurance.

After giving it some thoughts, I decided to get an accident insurance for our new “kasambahay”. It’s an additional expense but I think it’s better to shell out a small amount of money for security and hopefully nothing happens, than something happens but we don’t have the insurance needed.

Disclaimer: I’m a Licensed Financial Advisor of Philam Life but this post is not intended to sell or endorse their products. This is only to share my experience and it doesn’t cover all the details in the article. Should you be interested to know more about their products, you may contact me directly through this Contact Form.

Seminars Stock Market

Attend FREE Seminars by Stock Market Brokers

There are a lot of paid seminars out there that are conducted by various speakers who are known to be experts in the field of investment especially in the stock market. It’s okay to pay for these seminars because it’s part of your investment and according to Benjamin Franklin, investment in knowledge always pays the best interest.

But in my opinion, why would I have to pay when I can attend similar or even better seminars for free?

There are more than a hundred stock brokers and trading participants listed in the Philippine Stock Exchange and most of them offer free seminars for interested individuals. And you don’t have to be an existing client/investor because some of these brokers provide free seminars to the public whether or not you have an existing account with them.

COL Financial is one of the currently listed online brokers in the Philippine Stock Exchange and it offers two free seminars to the public namely:

1. COL Easy Investment Program: Simple Stock Market Investing

This program introduces the use of cost averaging to make investing in the stock market simple, convenient, and affordable for anyone.

2. Investing in the Stock Market Today

This seminar will introduce the basic concepts and opportunities of investing in the stock market. Popular approaches of stock analysis will be explained to help guide the new investor in making well informed investment decisions. This seminar is for interested market participants, with minimal to no market experience.

These were the first two seminars that I attended when I became interested to learn about the stock market. I chose the schedule when I can attend both of these seminars on the same day and I reserved my slot by calling their hotline and sending an email. I suggest you do the same thing by attending both seminars on the same day to save your time and effort. Otherwise, just choose a date that best fits your schedule.

The trainer for the first seminar in the morning was Jed Velarde and in the afternoon was Aya Laraya. They’re both knowledgeable in this topic and I learned a lot from them.

Like I said earlier, you don’t necessarily have to be an existing client to be able to attend the free seminars. Neither was I a client nor planning to open an account with them when I attended their seminars. It was only after the seminar and after doing my own research of the broker’s background that I decided to finally invest in the stock market under their online brokerage.

As to why I chose COL Financial over the other brokers is something that I will cover in a future post. Just a disclaimer, this post is not an endorsement and I am not affiliated with this company.

I suggest you also attend the seminars offered by the other brokers so that you can choose the one that matches your needs as a client and your qualifications of a good broker.

To know more about COL Financial’s Seminars, you may visit their website through this link.

Source: COL Financial

Seminars Stock Market

Attend FREE Stock Market 101 Seminar by PSE Academy

(Note: This is the continuation of my previous post, Where and How to Start Investing in the Stock Market)

I initially intended to share simple and short tips on a single post but it became lengthy as I was writing so I decided to write each tip on separate posts. Hope you find it easier to read this way. If not, don’t worry, I will make a quick guide or a summary of related topics on a single post with their corresponding links.

Anyways, here we go…

The very first tip that I suggest is to

  1. Learn the basics of the stock market by attending seminars.

Since I didn’t know who to ask about the stock market, I attended seminars to widen my knowledge and to learn from the people who are into this field. Searching for these seminars was difficult for me at first because I didn’t know where to find them. There were several advertisements on the internet that were related to investing in the stock market but I didn’t know which of them were legitimate and which of them were scams.

Luckily, I found resources on the internet and I got the chance to attend most of the seminars for free. My only challenge then was the order of the seminars that I’ve attended was kind of disorganized. I attended one that was too complex and difficult for me to understand as a newbie in the stock market. Then I found out that there was another seminar that covers the basics which I wished I attended first prior to the more complicated topic.

And since I don’t want you to go through the same confusing learning experiences that I did, I’ll share to you a list of the seminars that will help you learn and understand the stock market first before you start investing in it. Again just a disclaimer, this is only based from my personal experience and opinion and you don’t necessarily have to follow this if you don’t find it helpful or appropriate.

A. Attend the FREE Stock Market 101 Seminar by the PSE Academy.

It’s the basic guide to investing in the Philippine Stock Market and it’s principally intended for interested individuals and first-time investors with no or little market knowledge and investment.

Below is the actual list of topics that I got from their website.

Stock Market 101 by PSE Academy

The schedule is every 2nd and last Tuesday of the Month, from 10:00AM to 12:00NN.

The venue is at 2/F PSE Center, Tektite Building, Exchange Road, Ortigas Center, Pasig City.

Registration is FREE and for reservation, email or click this link to request training or workshop.

If you’re too busy or you don’t have time to attend the seminar, worry no more because PSE Academy is kind enough to share the Basic Stock Market Seminar Primer on their website. Just download the Attachment: 20140619100622435_Basic Stock Market Seminar Primer.pdf and you’ll be able to see the same presentation/slides that they use in the seminar.

The only difference is you don’t get to see your awesome trainer and co-participants and you’re unable to participate in the discussion and raise your questions. Plus, you miss the chance to join and win their contests if there’s any. When I attended the seminar, I was given an 8-gig limited edition PSE bull USB flash drive by just following the trainer’s instruction to wave my hand in the air when she raised a question. 🙂 Not only did I learn a lot from the seminar but having the USB flash drive also made my day!


Investment Stock Market

How and Where to Start Investing in the Stock Market

A former colleague sent me a private message on facebook this morning. I was surprised and flattered upon knowing that she’s following Pinay Investor and she has already read most of my posts. She’s also interested to invest in the stock market but she doesn’t know how and where to start. She read my articles about my stock market venture but it was kind of “nose bleed” according to her. 🙂 She finds it challenging because she’s not familiar with the terms and she doesn’t really know anything about stocks.

Actually, one of the items on my long to-write list is something similar to this post. That is, to write an article on how to start investing in the stock market. However, it has been delayed due to varied reasons. Then suddenly, I got inspired to finally write about this topic after our conversation this morning.

Everything that I will share here is based on my personal experiences and I think that’s what makes Pinay Investor unique or distinct from other blogs. Other investors and bloggers out there may have different suggestions and tips on how to learn and invest in the stock market. It’s good to learn from different people and resources to widen your knowledge and learning experiences, but it’s your responsibility to choose who and what to follow based on your personal needs.

Investing in the stock market was tough for me in the beginning because first of all I know nothing about it. Secondly, I don’t know anyone – a friend, relative, or colleague whom I can ask about the stock market and how to invest in it. And third, it was my misconception that the stock market is only for the rich people or those who have a lot of money like the businessmen and politicians.

So I started reading blogs and resources on the internet about investing in the stock market. Everything was a jargon but I tried my best to understand it by searching for the definitions of the terms that were unclear and unfamiliar to me. Then I began attending seminars, forums, and expos related to the stock market.

I thought I was ready to invest in the stock market because I already learned a lot from what I’ve read and the seminars that I’ve attended. But I was wrong. I lost money on my first few trades. Then I began thinking that the stock market is not for me and I almost gave it up. But I continued and I slowly realized that losing is really a part of learning and experience is indeed the best teacher.

It’s been only five months since I started investing in the stock market and I’m continuously learning. I don’t claim to be an expert on this matter but I’m happy to share with you some of the things that I’ve learned along the way. I don’t want you to experience some of the challenges that I went through when I was starting or at least avoid the same mistakes and do better than I did.

And because part of my advocacy is to spread financial literacy, I will share some tips that will make it a lot easier for you to learn and understand more about the stock market…

Attend FREE Stock Market 101 Seminar by PSE Academy

Attend FREE Seminars by Stock Market Brokers

Forex Investment

I Won $500 from a Contest on Facebook!

If you’re a friend on my personal facebook account, you’ve probably noticed or even wondered why I suddenly changed my display name to my real full name. And that is because I joined a contest and one of the conditions was to use my FB account with my real name.

Here’s the full story…

A day before I attended MTrading’s Forex Seminar, I visited their official facebook page and saw a post about an ongoing contest. I never joined any contest on facebook before but this one made me curious and so I gave it a try. I checked out the details and found the mechanics to be pretty easy…

  • Post a trading advice and share it. Whichever comment gets the most likes by the 18th of August will earn $500 on their trading account!

Without any further-a-do, I posted my “advice” comment to their page and waited for the other members to like it. I also invited a few of my FB friends who were online to like MTrading’s page and of course my comment.

I checked the page from time to time to monitor my likes and the others’ too. But it seemed like the other members who posted their comments weren’t exerting as much effort on the contest. For a week, my comment remained on top of the page for having the most likes.

It seemed like I was the only one interested to win. I didn’t know if the $500 prize seemed too good to be true that’s why the other commenters were kind of skeptical about it. Or maybe $500 is not a big deal to them. But for me it is.

I continued to monitor my likes until the last day of the contest. I even thought others would invite their friends to gain more likes but to my advantage, nobody got more than mine. I ended up having 22 likes while the one next to me only got 4. I could have more if my competitors showed their willingness to win. But they didn’t, so in the end, I was announced as the WINNER!

I still could not believe that the prize was real but when I received an email from MTrading and when I checked my trading account, voila! My $500 prize was already credited.

Even with certain conditions applied (like I can only use it for trading purposes), I am still very happy to have won in the contest. It’s such a surprise bonus! 😉

It’s not much but good enough to fund my forex trading account. At least I don’t have to worry now where to get my funds from to start my forex venture. I’m not confident in forex yet but I’m already practicing using my demo trading account. If I get any better, then I’ll go with my live account and use my prize funds.

Thank you MTrading for this opportunity!

Featured Image courtesy of MTrading.

Business Investment

Why I Don’t Join Royalè and other MLM-related Business

Having friends who are into the Royalè Beauty Products business, the title of this post may sound negative or even controversial. But there’s more to this post than the title alone. I hope you read on to know why I don’t join Royalè and other MLM-related businesses.

When I signed in to my facebook account today, I saw an invitation to like a fan page from one of my friends. I checked the page and found out that it was related to the currently trending Royalè Beauty Products. I scrolled down a bit on the page to find out more about the business. I was surprised when I saw two of my other friends’ names tagged on a post. The one who invited me to like his page was a friend from our province.  The second was a colleague from my previous job, while the third was my schoolmate in college. What a small world indeed!

I knew that these guys don’t know each other personally (before) but became a part of each other’s network because of Royalè. And that suddenly inspired me to write this post.

Actually, I have been invited by a couple of friends to join their network with Royalè. I have nothing against this business. Royalè has great products and I know for sure that it’s not a scam. But I find it awkward and shameful to say no to their invitations. I couldn’t explain to them either the reasons behind my refusal to join their business. I’m afraid that they might misinterpret a ‘NO’ as offensive or being unsupportive especially because they are my friends.

Multi-Level Marketing or MLM is not new to me. I believe in this kind of business and as a matter of fact, I’ve joined various MLM-related businesses in the past. Let me share you a few…

I signed up with Herbalife twice. The first was when I was in college. I was in search for a part-time job back then when I saw their ad somewhere (I already forgot where exactly that was).  I attended the presentation at their office in Makati and since I didn’t have money that time, my ‘upline’ (I forgot her name too), allowed me to stay in their office and make calls to invite my “circle of friends” to join Herbalife’s programs and opportunities. Apparently, that didn’t work out.

The second time was when I was invited by my college friend. I was already employed that time so when she invited me to their presentation, I was again amazed listening to the success stories of the members. Some of them were the same people I’ve seen when I first attended the presentation. And because I was already earning from my job then, I signed up and paid the membership fee. I tried marketing it through my friends and colleagues, but that didn’t work out either.

MLM multi-level marketing 

Before Herbalife, I also attended the BOM (Business Opportunity Meeting) or BOP (Business Orientation Program) with other MLM companies. The very first was with Globelines. It sounds like a big company but it’s not related or affiliated with Globe Telecom. Not at all. In fact, it turned out to be a scam. I wrote an article about this experience a few years ago and I’ll share it on a separate post.

I also remember attending business presentations with Four Quadrants, DXN, Nu Skin, and a few more which I don’t remember any more.  The last was with Vmobile, which was a one sim-load-all kind of thing. I was invited to their BOM by a colleague and for the nth time, I was amazed with their convincing and kind of ‘hypnotizing’ presentation and success stories. It was a very good timing for them because: 1) it was pay day, 2) I just got my 13th month bonus not too long ago, 3) I received the full amount of my share from a paluwagan, and 4) I had a few savings in the bank. It wasn’t much but it was enough to pay P30,000+ in full. And it all happened in just 3 hours. I was totally hooked. I’ll share the full story of this experience in a separate post but to conclude this part, unfortunately, my P30,000 ‘investment’ was put to waste.

I’m sharing these experiences to you without any intentions of convincing you not to join MLM business. There is nothing wrong with Multi-Level Marketing.

It is a legitimate marketing strategy in which members are compensated not only for the products or services that they sold but also for the sales of their recruits.

It is different from Pyramid Scheme which is an unsustainable business model that primarily involves recruiting and enrolling people to join the business. Most of these schemes don’t have products or services involved. The membership fees are used to pay the people on top or ‘uplines’ thus in order for you to earn, you have to recruit more people.

And I believe Royalè is a multi-level marketing company but certainly not a pyramid scheme.

MLM multi-level marketing

I may have not succeeded (yet) in this kind of business but that doesn’t mean that I’m not going to try it again. Maybe I will or maybe not. But one thing is for sure. I will be more vigilant and responsible now in all my decisions and actions. The common denominator of my failures was not mulling things over  long enough to make sound and better decisions. And these failures have taught me a lot of lessons. Sadly, it took me a hefty sum of money before I realize that I did something that I should’ve not done too soon.

I guess you know now why I don’t join Royalè and other MLM-related businesses. At least not yet and not for now. I feel like I’ve had enough of this kind of business in the past and I’ve never been successful. It’s not because of the business itself. The products are good. I can use and sell them if I want to. The management and the so called ‘uplines’ are supportive. Some of them even provide trainings and workshops. And I know that there’s money in this business.

But inviting and convincing other people to join the business is just my greatest weakness. I tried. In fact, I tried it several times with several companies. But I just couldn’t do it well. Maybe MLM isn’t just my thing or maybe it’s not really for me or maybe this is something that I need to improve more on.

Like what I said early on, I have never been successful in any MLM business. But that doesn’t mean I’m never going to involve myself in any MLM or networking-related kind of thing again. This is a good business and if the right time, with the right people, and the right business come, why not?

If it’s for me, then it’s for me. Likewise, if it’s for you, then it’s definitely for you.

But we wouldn’t know if it’s for us until we try it. So if you think that this is worth an investment, go ahead and try it! Good luck and I wish you all the best.  

“Malay mo, maging upline pa kita pag nag-join ako.” 🙂

Investment Stock Market

Stock Market Updates as of August 2014

I haven’t shared much about the stock market lately because my posts in July were all about my stock market venture. And I know that it might have been a little boring to some readers who are not interested in this type of investment vehicle.

Also, I kind of took a break in intra-day trading because I have limited funds and my current portfolio seems to be suitable for long-term investment. (Does it sound like a defense mechanism of a loser? 🙂 ) But seriously, as I learn the ins and outs of the stock market plus the knowledge I gained in the seminars that I’ve attended, I’m slowly realizing the advantages of long-term investment over short-term trading. I will tell you more about this in a separate post. In the meantime, I will share some updates related to my stock market venture.

MA (Manila Mining Corporation)

The highest percentage of my portfolio still comes from MA (Manila Mining Corporation). This is not a blue chip company but I still hold on to this stock because I believe in its positive market outlook. The stock value increased a bit after the Stock Rights Offering (SRO) that officially showed up in July. There is a slow movement in its valuation which is indicative to its low trading volume and the trend has always been sideways.

I visited the company’s website to know the disbursements made out of the SRO proceeds. In their report on July 2, 2014, they disclosed that the highest percentage of the proceeds went to Accounts Payable Trade and Accruals while the rest went to the disbursements of  Contractors, Cost of SRO, Care and Maintenance/Adm. Expenses, Drilling Program and Payables to the government like taxes, SSS, etc.

I’m relatively new to stock market and I don’t have enough knowledge in technical and fundamental analyses so if you want to know more about MA, you may visit their website through this link.

I don’t know either if MA was a good choice of stock or if I made a mistake in investing with this company. I’m staying positive and hopefully it follows the footsteps of SCC (Semirara Mining Corporation). 🙂

SINO (Sinophil Corporation)

I used a small portion of my funds to buy SINO (Sinophil Corporation) in June 2014. It was at 1.61 per share when I bought it. A common mistake of a stock market noob is being too eager to go with the flow or buying a hot stock without studying the technical and the fundamental background of the company. Yes I’m guilty of that and I paid my price. 🙂

It was on its peak when I bought it. In technical analysis, they call it resistance. And apparently, after hitting its resistance level, it went back down again and continued to dive until it reached around 1.15 per share. Another heart-breaking experience for me. 🙁

I held on to it and waited patiently. After a month, it bounced back and reached 1.71. And that’s when I decided to sell all my shares with almost 6% profit.

PSEi finally hit its 7,000 level

August is believed to be a ghost month and for some, it is not a good time to invest or open a business. One of the reasons being is that the economy kind of slows down during this month thus some investors take a break from the market. While it is only a belief, historical data show that August seemed to be the weakest month in the stock market.

Surprisingly, PSEi (Philippine Stock Exchange Composite Index) breached the 7,000 mark for the first time in nearly 13 months! PSEi by the way, is the main stock market index of the Philippine Stock Exchange, which is one of the indicators on the general state of the Philippine economy. So when the PSEi is high or is going up, it can be an indication that our economy is doing well or the corporate earnings are improving.

Now, is it a good time to invest?

From what I learned so far, there is no such thing as best day or best time to invest. No matter if it’s ghost month or not, it’s always a good time to invest. But before you take any action, make sure to educate yourself first. As Benjamin Franklin says,

Investment in knowledge pays the best interest.”

Forex Investment

Forex Seminar by MTrading

Because I wanted to learn more about forex, I searched for resources online and luckily I found seminars that are being offered by some forex brokerage firms or dealers for free. One of which was with MTrading. I contacted them via email and I received a text message from one of their account managers the next day with all the details of the seminar.

The schedule of the seminar was Wednesday and Thursday, 10AM to 4PM at their office in Makati. I confirmed my attendance the day before to reserve a slot. I reached their office at 9AM on the day of the seminar and yes I was the earliest bird. 😉

Our trainer was Ms. Cathy Silerio.

cathy silerio mtrading seminar

We briefly introduced ourselves and we shared how we learned about forex and MTrading.  There were around 15 attendees that day and most of us learned about MTrading from the recently held Money Summit and Wealth Expo 2014.

The first topic in the morning was Introduction to Forex. She discussed what forex trading is, which basically is the buying and selling of currencies. In one of her slides, I was amazed to learn that forex market has a daily turnover of around USD 5 Trillion, which is way too far from the average daily trading volume of the stock market.

A lot of valuable information were discussed including the most traded currencies, currency pairs, when to buy or sell, cost of trading, spread, pips and profit, leverage, how to earn in forex, and a whole lot more. And for someone who has no idea about forex, the terms were confusing to me. Thanks to Ms. Cathy who did her best to explain these terms in a way that was easier for us to understand.

In the afternoon session, we learned more about MTrading. From Admiral Markets, they changed their Philippine brand name to MTrading to have a “fresher look” according to Ms. Cathy. But they are still affiliated with Admiral Markets, which is their mother company and with several branches worldwide.

We were also taught on how to register in the Trader’s Room and open an account with MTrading. I suggest, if you attend this seminar, bring your own laptop so that you could register and open your own account real time.  Please bear with their connection though because during our seminar, the internet connection was intermittent and kind of slow. 🙂

Technical and Fundamental Analyses were also taught to us.  According to Ms. Cathy, her main objective was to make forex trading simple for us. But again, for an ambitious newbie forex student like me, it was absolutely challenging. Thanks to my brain cells for trying their best to understand the terms and charts. I could feel my nose bleeding when she started discussing Support and Resistance, Trend lines, Fibonacci Levels, Moving Averages, Relative Strength Index, and Stochastic Oscillator. Thank goodness I had a roll of toilet/tissue paper in my bag. 🙂

She ended the topic on Technical Analysis with a sample trading plan which is

“Plan your Trade! Trade your plan!”

Fundamental Analysis was supposed to be taught the next day, from 10AM to 12NN. But we requested to have it done that same day by extending the session to save our time.  Good thing they approved it thus we continued the topic on Fundamental Analysis.

The idea of Technical Analysis is that “History repeats itself” while Fundamental Analysis is that “There is always something new(s).” FA is more on looking at the economic, social, and political forces that affect the economy of a country. And as an investor/trader, we have to be up-to-date with the news and goings-on in the market.

Some people compare trading with gambling. And if I were to be asked if trading is gambling, my answer would be yes and no. Yes, forex is gambling if you enter the market without having clear trading goals and plans, and with the hope of winning out of pure luck with no technical and fundamental analyses at all. And no, trading is not gambling if you know what you’re doing and you understand the factors that affect the movement of the market.

Lastly, Ms. Cathy discussed the advantages of being with MTrading. Here’s a list of what they’ve got to say on Why choose MTrading.

  1. Lowest spreads
  2. Meta Trader 4
  3. Free Education – seminars and webinars
  4. Autochartist
  5. Multi-Account Managers
  6. Hassle-free Deposit

The terms may sound like a jargon but don’t worry, everything will be explained to you once you attend their seminar.

I learned a lot from this seminar but I am still not comfortable with forex. Like what I mentioned in my previous post, forex is the most complex type of investment that I’ve encountered so far. That’s why I really need to invest my time and effort learning the ins and outs of the market before I finally decide to invest using real money.  It’s a good thing that there is a demo  account where I can practice trading without worrying about losing money. And when I feel that I’m already financially, emotionally, and mentally prepared, then that would be the time that I will try investing in the foreign exchange market.

Just a dislaimer, I am not in any way affiliated with MTrading or Admiral Markets as of this writing. The information on this post are based on my own understanding and interpretation of what I learned from the seminar. I am not liable for whatever results this article may bring about in your investments because you are responsible for all your decisions. If you want to know more about MTrading and the seminars that they offer, you may contact them directly or visit their website for more details.

Forex Investment

How I Learned about FOREX

When I started reading finance blogs last year, I was already seeing ads about forex. Those are the catchy advertisements which you’d see almost anywhere on the internet that boast about high potential profit. I checked my email while writing this post and look what I found on the right side. This ad is exactly what I’m talking about.

It may sound like a cliche but when something seems too good to be true, then it probably is, a scam… And I admit it was so judgmental of me to consider those ads a scam right away without checking the validity of my judgment. Furthermore, I also didn’t bother to click those ads because I was afraid that my computer will get a virus. My misconception was that an ad on the webpage is always related to either a scam or a malware.

But actually, before I noticed these forex ads, my only idea about forex was about money changers. I thought that forex is only for those who have relatives abroad who send money here in the Philippines and the recipient will have to exchange it to Philippine peso before they could use it here in the country.

The second time I heard about forex was, when my husband and his friends were talking, I heard that one of them has been trading forex for 5 years now. It is his primary source of income and he is doing pretty well on it. I also heard from another friend that he’s already a millionaire because of forex. My reaction was “Weh, di nga? Totoo ba talaga ang forex?”. But that was only on my mind because I pretended to be asleep while they were conversing. 🙂

The third time was when I attended the Money Summit and Wealth Expo last month. I got the chance to have a one on one talk with Ready to be Rich founder and author, Mr. Fitz Villafuerte. I have been following and reading his blogs since last year and meeting him personally was a great honor.

Pinay Investor with Fitz Villafuerte
Pinay Investor with Mr. Fitz Villafuerte

My main purpose of attending the summit was to learn forex. In fact I didn’t register for the money summit conference (with fee) because forex was to be discussed at the co-located wealth expo. It was an advantage for me because the expo was free.

While talking to Mr. Fitz, he told me that he will be conducting a talk about forex on the second day of the expo. I knew that forex was one of the highlights at the expo but I didn’t know that he was one of the speakers. I felt excited because one of my favorite finance bloggers will talk about a topic that I was most interested in during the expo. I was even more surprised when he started telling me what forex is, how it works, and why he likes trading in forex more than the stock market.

He also told me a bit about leverage and risk management but since I knew nothing about forex yet, I found it confusing. Nevertheless, I felt privileged to have spoken with him. Thank you so much, Sir Fitz! I hope you get the chance to read this post. 🙂

I returned to the expo the next day and after listening to all the talks about forex, I somehow got an idea on how it works. It’s almost the same as the stock market but forex market is more volatile, hence, it’s riskier. And because of that, I need to study it further before I decide to enter this type of investment.

Forex at Money Summit and Wealth Expo

There were three forex brokers (brokerage firms or dealers) present during the Money Summit and Wealth Expo. They were MTrading, FBS, and MetisEtrade. I went to their booths and got the chance to try their online platforms. I don’t know if I remember it correctly, but I think Mr. Fitz mentioned during our conversation that he is with two other brokers, Iron FX and FXCM.

After knowing that there are actually forex brokers in the Philippines, I realized that ForEx is absolutely NOT a scam, contrary to what I initially thought of. Forex is legitimate and in fact the most liquid type of investment because it primarily involves currency or money.

I can’t speak much about Forex because I only have very limited idea about it. It is by far the most complex type of investment that I’ve encountered and I know I still have a lot to learn about it. I haven’t even learned the basics yet.

I will continue to educate myself by reading more resources about forex and I will be attending forex seminars for more advanced learning. I’ll take one step at a time, while I’m still working on finding where to get my forex funds from. 🙂

So please keep checking Pinay Investor back because I will share my learnings with you and we will continue learning together.

Good luck to all of us!

Coop Investment

My Ayala Coop Experience – Part III

ut what was really the purpose of my membership and why did I terminate it in the end?

When Ayala Coop was introduced in our company, I never really planned to sign up with them. First of all because I don’t like loans. Not that I hate loans or that I never had a loan or have borrowed money from someone else, but I am not just comfortable with it.

I know a few of my colleagues who availed of Ayala Coop’s loan products to buy high-end cellphones or other gadgets while some of them used the money to renovate their house, to pay for their kids’ tuition and even to fund for their travel and getaways.

I have nothing against them. It was their money and they have all the rights to use it for whatever purpose they want. But obviously, more members take advantage of the loan products and services rather than the investment side of it. 

I can’t speak much about the coop’s patronage refund and rebates because I didn’t avail of any loan. But based on their reports, their interest rates seem lower compared to other lending companies and banks.

After reading their brochure repeatedly, I finally decided to sign up. My main purpose was to save a portion of my salary by investing it in the Coop. And by investing, I was hoping to earn higher returns than what the normal bank savings account offers. So I never really thought of availing their loan products even if it was very easy to apply and get approved.

That was my purpose. But after giving it some thoughts, I realized that my money would be better off in another investment vehicle. That time I was already thinking of investing in the stock market. Who would be satisfied in the first place if you know that your P10,000 investment only earned a one-time 30 pesos in almost 2 years. Little did I know that a bigger cash dividend was on its way to my account. Only then I realized that Ayala Coop was worth a portion of my investment portfolio had I not terminated it.

Too late… Now I’m thinking if I could still reactivate my membership knowing that I’m no longer employed with the Ayala Group of Companies.

I guess it’s an opportune time for me to reassess my investment objectives and continue learning how the different investment tools work so that I could choose those that match my current financial status, risk appetite, and investment goals.

How about you? Have you been a member of Ayala Coop or any other cooperatives? How was your experience with them? Share it with us by leaving a comment below.

Click here to read – My Ayala Coop Experience- Part I

Click here to read – My Ayala Coop Experience- Part II

Disclaimer: This post is for informational purposes only. I’m not an employee of Ayala Coop and I don’t endorse any of their products or services. If you’re interested to know more about this company, you may contact them directly or visit their website for more details.