My previous articles have received various reactions lately, ranging from safe to strong objections.
My take on stock investing did not exactly draw passionate ones, yet people still questioned its role in the success of investors in winning their game.
These readers may be in for a bigger surprise as to what the investing greats have said about the power of common knowledge. Besides this, there are two other key factors often mentioned in making sure there’s success in the market: money management and technical analysis.
The successes of the investing greats can be attributed to 60 percent common knowledge, 30 percent money management and only 10 percent technical analysis.
On the state of the economy, reactions have become more negative. My attention was called to the statement of former Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. before members of the Joint Foreign Chambers of Commerce (JFC) when he received the Arangkada Philippines Lifetime Achievement Award. Tetangco has been credited for his contributions to the country’s much improved economic status and current good international credit standing.
Tetangco said the “economy remains on track for expansion” and that with strong macroeconomic fundamentals, the country “looked set to becoming an upper middle-income economy by the end of the Duterte administration.”
Unperturbed by the lower-than-expected performance of the economy in the second quarter, he upheld the idea of the country becoming one of Asia’s next economic powerhouse as earlier published in the World Bank’s June 2017 Global Economic Prospects report. The latter asserted the Philippines “will be in the top 10 fastest growing economies in the world with a GDP growth forecast of 6.8 percent.”
For Tetangco, this would happen in view of the government’s reform-oriented posture and the collaborative stance of the private sector.
I was also told of Budget Secretary Benjamin Diokno’s pronouncements allaying fears that the “Build, Build, Build” program would push the country deep in debt like what happened during the 20-year regime of former President Ferdinand Marcos.
Diokno said they would not do a Marcos: He borrowed abroad, only to get hit in the ensuing crises.
The government will follow an 80:20 borrowing mix, in favor of domestic credit. The government said there were local funds available and because the economy was expected to grow much faster, the country would be able to outgrow its debt.
Bottom line spin
Expectedly, the most vehement of reactions were in connection to the war on drugs. Many have condemned it for its propensity for abuse.
But the President, in particular, conflates the issue of drugs with peace and order, development and economic growth. He has shown this mindset during his 23-year stint as mayor of Davao City, which they claim is now known for being progressive, peaceful and highly-sought investing haven.