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Most Important Rule of Investing: Never Invest Money You Can’t afford To Lose
By Heartland Boy  •  April 18, 2021
A recent article on Straits Times about Torque and Singaporeans investors losing their life savings serves as a stark and timely reminder. The most important rule of investing is to never invest money that you can’t afford to lose. Here is a short blog post on why it is important to only invest money that we can afford to lose and how we can guard against such dire outcomes. Singaporeans lost life savings on Torque In this article, it was reported that more than 100 people in Singapore have filed police reports against Torque, a crypto-trading platform. Their trading accounts have been suspended as a rogue Torque employee had made unauthorised trading activities that led to significant losses. It was also stated that more than 2,000 of the investors on Torque are Singaporeans. Straits Times ran a report and I found some of the interviews truly heart-wrenching: “It’s their...
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By Heartland Boy
Heartland Boy is a young working adult who pretends to be competent in the real estate industry despite graduating with only a Business Management degree. Outside of work, he analyses stocks, reits and property for investment to build passive income. He is also a stickler for all things that represent value-for-money.
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