Chanced upon an interview with tycoon Peter Lim while I was surfing the net.
Peter Lim’s secret to successful investing?
Ans: The two Ps - Prospect and Patience
He looks at sectors for their prospects.
‘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.
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.
Food for thought indeed.
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