According to Charlesworth, he gets only around 3% to 5% profit
gain on his online day trading with Fidelity Investments as his broker,
in the US and does not believe that any Filipino trader or investor can earn 40%, 60% or
even 100% on any stock in the Philippines.
DAVAO CITY, PHILIPPINES —- A Filipino stock trader
here who claimed to have gained 300% profits in the Philippine
stock market after one year has been disputed by a number
of US stock traders on Wall Street.
“How can a Filipino based in an obscure island
some where in the Pacific be able to understand the stock
market enough to make that kind of profit ? “ was the reaction
of US-based stock trader Peter Charlesworth who saw the
story on the website of Goldelyonn Growth Fund at www.
tradingfund.wordpress.com.
Charlesworth said the claim is “unbelievable” and raised
some suspicions that the figures backing up the claim may have
been rigged “to make that outrageous claim”
Jamil Ahmed, a stock trader at Goldelyonn said he stands
by the claim, stressing that the exact figure was 342% using a
small capital of only around P25,000 which was invested in fast
rising local stocks starting January 2010 in the Philippine stock
exchange.
“This was actually just an experiment to find out if it’s
possible to adopt the trading plans and strategies of great US
traders like William O’Neil, Richard Driehaus, Jesse Livermore,
Martin Zeig , using local Philippine stocks,” Ahmed pointed out.
After 12 months around the end of December 2010, according
to Ahmed, the value of his stock holdings grew to around P85,000
which is more than triple the amount he now has after making profits
of 20% to 45% on several of the Philippine stocks he bought and sold
with durations of 30 days to 90 days.
Using the same trading plans and strategies, Ahmed said it
is now possible for their growth fund Goldelyonn to make this kind
of superior performance with investors who have P500,000 or P5 million
committed to them for fund management.
“Even if we make only 40% to 60% gain on investors’ funds,
that’s much better than most mutual funds or bank trust funds” says
Ahmed.
According to Charlesworth, he gets only around 3% to 5% profit
gain on his online day trading with Fidelity Investments as his broker,
and does not believe that any trader or investor can earn 40%, 60% or
even 100%.on any stock in the Philippines.
Charlesworth said mutual funds in the US and the Philippines
are mostly “underperforming” with returns of only 8% to 12% and cannot
reached the figure claimed by Goldelyonn.
“ I just think that’s outrageous and deceiving and won’t convince me
unless those guys show me a well-audited rundown on all those figures
shown by that Filipino website,”
Another US trader, Kenneth Carrigan based in Wall Street, New York
said he also saw the figures presented by Goldelyonn Growth Fund and agreed that a “good audit will prove whether or not the claim is true or not”
Carrigan, who is married to a Filipina, admitted however the global economic recovery which started around June 2009, was more pronounced in Asia than in the US
whose economy collapsed under the weight of the financial meltdown on Wall
Street.
“Although I’m taking this with a grain of salt, I can’t ignore that Asian
countries like Indonesia. Malaysia and the Philippines were some of the world’s
best performing stock markets,” Carrigan told Philpress News.
.
—— PHILPRESS NEWS
AiDz
March 24, 2011
In my opinion, it’s possible to earn up to 300% on Philippine stocks in 2010, where the PSE index was at all time high on November of the same year. Although it would be best if there’s an audit report for the “skeptics” out there.
I’m not sure if the bull run will continue this year since the global fund managers are shifting their funds from emerging markets back to the developed economies.
Just my two “centavos”
goldelyonn
March 28, 2011
Yup, that’s right. and the best time to buy those fast-rising stocks was the last three months of 2009 and selling them between March and August last year— the peak of the Philippine bull market. Those with bigger capital buying 5 to 8 hot stocks could even hit 500% with the right timing
Allan
April 3, 2011
Goldelyonn, is there a difference between stock investing in Philippines vs. US stocks? For Philippine stocks, i always use mutual funds
goldelyonn
April 5, 2011
Siempre, we don’t know anything about US stocks but its easy to know about Philippine stocks. But if you don’t know how to pick winning stocks in the Philippines, its a good idea to get mutual funds—but you won’t get big profits in mutual funds. Trading in stocks, you can make as much as 40% to 60% profit returns yearly. In mutual funds, you’re lucky if you can get 15% to 17%
goldelyonn
April 5, 2011
PINOY STOCK TRADER GOES TO CEBU !
(www.pinoy777.wordpress.com)
ORGANIZERS of the stock trading forum series in Davao are now considering conducting a forum in Cebu sometime in May this year.
Stock analyst and trader Jay Romualdez who runs the blog Pinoy Stock Trader (www.pinoy777.wordpress.com) said he had been getting several emails and text messages from people in Cebu and Manila inquiring him when he plans to hold the stock trading forum in the two big metropolitan cities.
“Right now, we’re seriously thinking of setting up one forum in Cebu for people who wants to make stock trading as a full-time business,” Romualdez said.
The stock trading forum was held four times in Davao since October last year, gathering dozens of professionals, employees, entrepreneurs who wanted to learn basic techniques in stock trading— or the buying and selling of stocks in the Philippine stock market.
Romualdez said those in Cebu who wants to sign up for the Cebu stock trading forum can leave their names and cellphone numbers on the “Pinoy Stock Trader” page on Facebook or send their names and contact numbers by text to 09084699301.
The forum covers lectures and open forum on such topics as : how to pick winning stocks, how to cut losses, when to take profits, how to find “buy signals” , how to read stock charts, when to sell, etc.