FRIDAY, NOVEMBER 18, 1988
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REAPING BENEFITS IN THE LONGER TERM
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IT IS ONLY OVER THE LONGER TERM THAT THOUGHTFUL INVESTMENT IN STOCKS AND SHARES WILL ENABLE A PERSON TO BENEFIT FROM THE GENERAL PROSPERITY OF THE ECONOMY, THE SECRETARY FOR MONETARY AFFAIRS, MR DAVID NENDICK, SAID TODAY (FRIDAY).
RACE
SPEAKING AT THE CLOSING CEREMONY OF THE GREAT INVESTMENT 1988 AT THE EXCHANGE SQUARE, MR NENDICH SAID ANY INDIVIDUAL WHO INVESTED IN THE STOCK MARKET MONEY WHICH HE OR SHE MIGHT NEED
USE AT VERY SHORT NOTICE FOR OTHER PURPOSES WAS A HOSTAGE TO MARKET FLUCTUATIONS AND MIGHT BE OBLIGED TO SELL AT UNATTRACTIVE PRICES.
CONGRATULATING ALL PARTICIPANTS IN THE RACE, PARTICULARLY THE WINNERS, MR NENDICK SAID LUCK AS WELL AS JUDGEMENT WOULD INEVITABLY HAVE PLAYED SOME PART IN THE OUTCOME GIVEN THE RELATIVELY SHORT TIME SCALE INVOLVED.
"I WOULD NOT WISH THESE COMMENTS, THOUGH, TO BE SEEN AS IN ANY WAY DENIGRATING THE UNDOUBTED SKILLS AND JUDGEMENT DEPLOYED BY ALL PARTICIPANTS, NOR DETER THEM OR OTHER FINANCIAL INSTITUTIONS FROM ENTERING FUTURE RACES.
'ON THE CONTRARY, I SEE THIS AS INDICATIVE OF THE RISKS INHERENT IN LOOKING TO THE STOCK MARKET AS A PLACE FOR SHORT TERM INVESTMENT," HE SAID.
HE SAID THAT IF PROFESSIONALS, WITH ALL THE INFORMATION AND EXPERTISE THEY HAD AT THEIR DISPOSAL, COULD NOT ALWAYS GET 17 RIGHT, MUCH LESS SO COULD MEMBERS OF THE GENERAL PUBLIC.
"MY FIRM ADVICE, THEREFORE, TO SMALL INVESTORS IS THAT THEY SHOULD LEAVE SHORT TERM INVESTMENT IN STOCKS AND SHARES то THE PROFESSIONALLY QUALIFIED AND REGARD THEIR OWN COMMITMENTS MARKET AS BEING FOR THE MEDIUM AND LONG TERM, HE SAID.
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