Ep24: Sopon Srisakunpath – Beware of Seductive Online Trading Strategies

By Andrew Stotz | 11/27/2018 |

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Guest profile

Sopon Srisakunpath has three and a half years experience working in Thailand at the big four accounting firms of KPMG and PwC. He has analyzed and observed business processes and coordinated with the management of large public, non-life insurance companies. He is completing his MBA at the Sasin School of Management where he majors in Finance and Strategy. He is also currently representing his university in the CFA research challenge in Equity Research Valuation Competition. In addition to all of that, he’s also a health tech start-up, co-founder and CFO of Welly, a physiotherapist platform.

In this episode, Sopon talks about his first worst investment ever in a seductive online trading platform without ever understanding their business model and lost a hundred thousand baht in it.

“Study hard about what you’re investing in. Investing should be something you really know.”

Sopon Srisakunpath

Topics Covered:

00:04 – Nuggets of wisdom from Andrew and introduction of what he does

00:36 – An introduction to Sopon’s Educational attainment as well as his career background

01:35 – What he is up to and what he loves most doing

02:25 – Sopon telling his story of his first investment and how it failed

04:53 – Lessons learned from his online trading investment

05:06 – How greed gets you excited first hand and how to watch out for it when investing

06:50 – The confusing business model presented and how you should be warned about it

05:06 – Making sense of that inner voice in you when something doesn’t seem right

08:33 – Insights into the first failed investment

09:25 – Wise Words from Sopon: “Study hard about what you’re investing in.”

Main Takeaways:

Lesson 1: “Study hard about what you’re investing in. Investing should be something you really know.”– Sopon Srisakunpath

Lesson 2: “My lesson is that I shouldn’t have invested in something I didn’t completely understand. I shouldn’t have trusted people too much.”– Sopon Srisakunpath

Lesson 3: “And I think that what I would like the listeners in the audience to think about is that that inner voice will come out when you know that when you feel like something’s not right.”– Andrew Stotz

Lesson 4: “Now I think one of the lessons that I’ve learned in life is that things are pretty simple in life and if you find that they’re really hard to understand, it’s too complicated. Usually, there’s a reason why it’s complicated. Someone’s trying to hide something.”– Andrew Stotz

Lesson 5: “Worst investment start off feeling excited, but then there comes that moment of question or doubt. And so what I would hope is that my listeners can grab that question, that moment of doubt and that inner voice and then really use it to your benefit.”– Andrew Stotz

Lesson 6: “If you ever are talking with someone and they’re talking about being rich or getting rich, be careful right there because that’s not a normal conversation. And I say that so. So if you hear someone talking about getting rich, being rich, something like that, that’s a warning sign.”– Andrew Stotz

Connect with Sopon Srisakunpath:

Andrew’s books

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About the show & host, Andrew Stotz

Welcome to My Worst Investment Ever podcast hosted by Your Worst Podcast Host, Andrew Stotz, where you will hear stories of loss to keep you winning. In our community, we know that to win in investing you must take the risk, but to win big, you’ve got to reduce it.

Your Worst Podcast Host, Andrew Stotz, Ph.D., CFA, is also the CEO of A. Stotz Investment Research and A. Stotz Academy, which helps people create, grow, measure, and protect their wealth.