Sunday, 4 September 2022

All in on Tesla? | A Korean family ploughed $230,000 of life savings into Tesla!

With the Tesla 3 for 1 split that happened recently, there has been many articles covering Tesla and I came across this article from Business Insider & Tesmanian titled, “An army of Tesla fans in South Korea holds a collective stake of more than $15 billion in Elon Musk's company, putting them among its top shareholders, report says.

 Read more: My Tesla Journey | How it became the largest holding in my portfolio

Main points from the article

The title of course gives a glimpse of what it’s going to be about, South Korea’s retail investors have a big stake in Tesla at about more than $15 billion making them among the top shareholders. Housing and lifestyle costs in South Korea has risen to unimaginable levels as the youths struggle to get their own property or even be able to start a family as rising costs deter them.

Many have resorted for a get rich quick method including using stocks and cryptocurrencies to increase their net worth. Young Koreans are increasingly worried about repeating the financial hardships of their grandparents. The poverty rate of older Koreans is the highest among the 38 member countries of the Organization for Economic Cooperation and Development.

Taken from Tesmaian - Bloomberg reported about Park Sunghyun’s family, who sold their house in Seoul, moved into a rented apartment and invested their $230,000 family savings in Tesla stock. They dreamed of buying a bigger house, but the money they made from selling their house was not enough as prices rose significantly and their purchasing power was drastically reduced due to COVID-19 and the situation in the country. Tesla shares have huge appeal as, despite the price drop in 2022, they are still up 1900% over the past three years. “With this man, I thought we could go all-in,” says Sunghyun. She bought the shares at an average price of $668 a share, well below the current $905 (as of this writing).

Short term VS long term gains

The stock market and cryptocurrencies seems to be a place where the majority of individuals aged 20s and 30s hope to double or even 10x their capital within a short period of time. Some have done it like Park Sunghyun while others might not have although most of the time, only the successful cases are being reported or talked about.

Read more: Gamification and how it has changed investing/banking

AMC, GME, Dogecoin and Shiba Inu coin were the hype when people started talking about how they 10x or 100x their capital and if they did cash out at the right time, there were profits, they made many rich in the short term but of course many lost as well when they entered the market late.

It seems like the stock market and even more so for crypto where it has become like a lottery to pick the right stock or crypto and be ready for it to go to the moon in a few months time. But is investing really all about short term nowadays? Are the times of buying the index ETF and waiting 40 years for the market to be higher behind us? Or maybe index ETFs no longer provides returns that is beating inflation and we need stocks that can give us the double digit % growth hence explaining why people are betting on Tesla to do just that.

Read more: Concept of 躺平, Lie Flat | Have you been getting enough rest?

As quiet quitting, lay flat and “bai lan” comes up frequently among millenials and gen Zs, it seems like work is no longer enjoyable and everyone aims to get rich young and FIRE to really do things that they are interested in like travelling or making tik tok videos?

Of course, Tesla does have huge growth potential and judging by it’s growth numbers the past few years, if it can hit expectations or even surpass it, the stock will become very valuable. But it’s pretty scary when you see people selling houses to buy it. Well, it could turn out really well or the other way. No matter what, I am still buying Tesla in smaller portions and instead building up on index ETFs. My growth might not be as amazing but I feel the balance in volatility will let me have a better sleep in the night. Would you also go all in on 1 stock?

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  1. We have our own S'pore version. Some guy sold his HDB & all in $300k into ... wait for it .... Singpost.

    I think those South Koreans have better potential outcome.

    1. Yes, SG version. He support local company. 5 or 10 years down the road, we can see the portfolio results.

  2. Matthew revelation dot blogspot dot com