The ancient Greeks threw coins into wells to keep them from going dry. Today, we continue to toss coins for good fortune.
It’s during this month that some investors take a break, as do businessmen. In fact, jitters about the ghost month spooks stock prices in the Philippines and drove shares lower for three consecutive days since its start on August 3.
Financial expert from the Bank of the Philippine Islands (BPI) Hanssen Salines admitted that people avoid making major decisions during this month for fear of inciting bad luck. “Regional stock markets,” he said, “especially those with predominantly Chinese investors in the Philippines, usually weaken and experience relatively lower volume.” This fear of the unknown is the same fear that fuels investors to stay on the sidelines, Salines disclosed.
He stressed that this often leads to lose of opportunities. But for Salines, a more opportunistic rather than a fearful perspective of the market can be key to securing your financial well-being. What’s in store for you As he put it: “Be fearful when others are greedy and greedy when others are fearful.”
He advised that since prices of both the bond and stock markets tend to go down this time of the year, it should be a good opportunity to enter the market at a lower cost.
“August is a time when more sales start to go live, so if you’ve been looking to buy one of your big-ticket items, like car or motorcycle, you can look up a number of discounts at this time,” he added.
