Peter Lim - king of remisier secret to successful investing

Peter Lim king of remisier secret to successful investing

1) Prospect
2) Patience . 10 years
3) Longer term mindset.

WHAT is Peter Lim's secret to successful investing?
Prospect, he replied.
He looks at sectors.
'Like if I think solar is good, I go into solar; if I think palm oil is good, then palm oil.
'Share prices go up because the sector grows. So if I think this sector is going to be good in the next 10 years, then I'll just invest in it.'
Another key reason for his success, he said, is patience.
Mr Lim, who also acts as a consultant to companies and helps them find multi-million-dollar investors, does not subscribe to buying one day and selling the next to cash in.
His advice to young investors: 'You have to invest with a longer-term mindset. You buy a good stock, leave it there for 10 years. Come 10 years, this dollar can be many, many multiples.
'I think the trick is really to think long-term.
' You may not have a lot of money, but you have a lot oftime.'
'The minimum length of my investments are five to six years, if not 10 to 12 years.'
He cites the example of his condominium.
He owns an entire 11-storey block at prestigious Ardmore Park, near Orchard Road. He and his wife, with his 85-year-old mother, live in one apartment, while three other maisonettes and the penthouse sits empty.
'I bought it in 1994 for $13m and I just hold there and wait. With the current property market, it is worth more than $100m.'
Same with Wilmar, which he invested in in the early '90s. It was then a US$10m investment. Now, his stake is worth some US$700m.


Information extracted from http://finance.kampungtalk.net/2007/08/stock-market-turmoil-singapores-7th-richest-man