Money Muse: Award-winning investment blogger took home only $650/month when he started
PUBLISHED ONJanuary 18, 2020 6:00 AMBySimeon Ang
Money Muse is AsiaOne's maiden series of profile interviews with financial and investment bloggers where we learn more about what they do, how they started writing, their motivations as well as lessons gleaned through their writing journey.
We recently caught up with Adam Wong from The Fifth Person, which aims to help its readers learn more about the world of investing and make more informed and, in turn, profitable investment decisions for themselves.
In 2018, The Fifth Person won the Best Independent Investment Website award in the 'GoTo.com' category at the inaugural SGX Orb Awards organised by the Singapore Exchange.
The award recognises the independent investment-related website or financial blog that most empowers investors to make educated decisions with their money.
Adam received the award from SGX CEO Loh Boon Chye at the annual Media Appreciation Night held on July 19 2018 in Singapore. Award winners from five other categories at the event were CNBC, Channel NewsAsia, The Straits Times, The Business Times and The Edge.
WITH SO MANY ASSET AND MONEY MANAGERS IN THE MARKET, WHY BLOG ABOUT INVESTMENTS AND FINANCE?
ADAM (A): My partners and I started this company because we believe that you are the best fund manager for your own money. You can outsource your research and data finding, but you shouldn't outsource your decision-making to someone else when it comes to your money.
You have to make your own decisions -- and knowing how to make the best decisions for yourself depends on your level of financial literacy. We've seen friends and relatives fall prey to dubious investment schemes or outright scams, which could have been avoided if they had more knowledge about investments.
We've also had friends who lost six-figure sums investing in the stock market simply because they had little idea of what makes a good stock investment.
[[nid:469169]]
Because of these experiences, we started The Fifth Person to teach our readers the insights to discern between a good and bad investment, and how they can apply the same methods of analysis when it comes to their own portfolio.
WHO ARE YOUR READERS? WHY DO YOU THINK THEY READ YOUR POSTS?
A: Mostly those from 25 to 45 years of age, which is roughly where we are ourselves! Younger Singaporeans are also becoming savvier with their financial decisions and many of them go online to look for sources of financial information and advice.
WRITING CAN TAKE A LOT OF TIME AND EFFORT. HOW DO YOU DO IT? WHAT MOTIVATES YOU?
A: Yes, but we mostly write about the research and analysis we do on a day-to-day basis anyway, so it's easier to write about what we are already doing research on. For example, we attend annual general meetings to learn more about a company and its business operations for our own stock portfolio, and we summarise what we learn so that our readers can benefit from our findings as well.
HOW DO YOU KEEP YOU AND YOUR TEAM MOTIVATED? WAS THERE A PARTICULARLY MEMORABLE EXPERIENCE THAT IS ETCHED IN MEMORY?
A: One of the best motivators is having our readers email in to thank us for the articles we've published and how it's helped them become better investors and stewards of their own money. This reminds us that what we're doing is making a difference in someone's life.
We could write pages after pages of our insight and analysis, but it only truly becomes meaningful when someone actually reads it and it makes a positive impact for them. Without our readers and subscribers, The Fifth Person wouldn't be where it is today.
ON A PERSONAL LEVEL, WHAT HAS BEEN THE BIGGEST FINANCIAL ISSUE YOU'VE FACED? HOW WAS IT LIKE?
A: It wasn't all plain sailing when we started The Fifth Person six years ago. We faced many challenges at the beginning — as any new start-up would — and there were times when we weren't sure if the company would become successful.
I remember taking only $650 a month in salary in our very first year. Eventually, we pulled through and started to generate some revenue. Because of our tough start, we made sure we set aside some funds for a rainy day, and also to reinvest and grow our business in the future.
WHAT WERE THE BIGGEST LESSONS YOU COULD DRAW FROM IT?
A: It's so important to manage your risk because anything can happen in the future and there's no guarantee that things will always remain the same.
This can apply to our health, work and investments — illness can strike at any time, businesses can face tough times, and investments can turn sour due to unforeseen events. Without any risk management in place, difficult situations can become disastrous.
For example, no matter how bullish we are about a particular stock, we never go all in and 'bet the farm' on it. Even though we may earn a lower overall return when we're right, it's not worth losing your pants just for that extra profit if the investment turns out bad.
[[nid:469167]]
THROUGH THIS JOURNEY, WHO HAS INSPIRED AND MOTIVATED YOU THE MOST?
A: It's so cliched and often repeated but, definitely, Warren Buffett. His half-century of performance speaks for itself, but the way he's gone about building his wealth by being honest and aligned with his shareholders — instead of exploiting them — can be hard to find in today's business world.
His annual letters contain so many nuggets of wisdom and humorous quotes that they are always a joy to read.
IF THERE IS ONE THING YOU CAN TELL YOUR AUDIENCE, WHAT WOULD IT BE?
Take charge of your own financial future because no one can care for your money better than you.
The Fifth Person will be part of an increasing and growing stable of bloggers whose writings we will feature in our money column. Look out for their stories!
simeonang@asiaone.com