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“Too Late to Buy Stocks?”

Posted January. 18, 2005 23:09,   


“The stocks are soaring… Would it be too late to buy A stocks tomorrow?” The stock exchange and Kosdaq index skyrocketed more than 17 points, respectively, on January 17. Private investor Cho Young-shik (32) tossed and turned all night with simmering regret. The night dragged on for Cho.

Cho sought the lobby of the Daishin Securities headquarters in Yeoido, Seoul, on January 18. Private investors stood in bunches in front of the real-time screen, boring holes into the stock fluctuations.

Lee (65), who lived on real estate rental fees and banking account interest (approximately one billion won) after retirement, recently put in 300 million won for stock funds for the first time.

Lee confessed, “Even with the interest, I couldn’t stand a losing battle so I made a grave decision.”

The customer lobby was feverish and investment decisions cautious, as in one corner of the lobby, investment advisors and customers were arguing over category selection.

“You need to deliver. It’s dangerous.”

“I lost my chances one too many times with that kind of advice. I don’t care about stalk cells or the likes, just pick out the stocks that will continue to rise.”

Considered an elder of the Daishin Securities headquarters’ lobby, Park Sang-gyun (51) interrupted.

“Lady, looks like it’s your first time with stocks, but the investment advisor is right.”

Park experienced both high and low tides in early 2000 with Internet share investments. Field veteran that he is, the recent raise was startling, even to him.

The thought of plunging stocks was fear itself.

The atmosphere of the customer lobby was calm, compared to the choppy past. Familiar scenes of customers confirming rumors of “so-and-so company’s M&A” were not apparent.

Full-time investor Hwang tipped us off, “If Samsung Electronics gets its hands on company shares, people with analysis information, such as the scale and onset influence, will increase.”

Kang-Woon Lee kwoon90@donga.com legman@donga.com