Last Sunday's article ("How to win at a winning game") contained sound advice that is fundamental to any investment strategy.
Unfortunately, many people continue to succumb to the cycle of emotional investing - buying instead of selling when the market has peaked, and selling instead of buying when the market has bottomed out.
Many more are nonchalant about or ignorant of the value- destroying effect that performance drag - caused by front-end loading, sales commissions, management fees and switching fees - has on their portfolios' investment returns.
In this regard, more should probably be done to reach out to ordinary investors in the heartland who are likely to be less investment-savvy.
For instance, community clubs and residents' committees could periodically organise block parties with an investment theme, where investment education kits are handed out, with professionals on hand to give talks in much the same way that lawyers perform pro bono work.
As Singapore grows from strength to strength as an international financial hub, more initiatives could be implemented to ensure that the population's investment knowledge and investment-savvy quotient also grow in tandem.
Letter by Woon Wee Min
This article was published on April 27 in The Straits Times.Get a copy of The Straits Times or go to straitstimes.com for more stories.