Home » Business » Revealed! Lo Kheng Hong’s story, Babak Belur in BUMI’s stock

Revealed! Lo Kheng Hong’s story, Babak Belur in BUMI’s stock

Jakarta, CNBC Indonesia – The name, placing funds on the stock market, of course, does not always provide benefits for investors. In fact, behind his success story as a well-known RI investor, Lo Kheng Hong, it turns out that he has also experienced ‘getting stuck’ in one of the stocks.

He told him through a video upload in 2016, where he had invested in shares of PT Bumi Resources Tbk (BUMI) and then the price subsides into prices IDR 50 aka gocap.

Unmitigated, even this investor known as Indonesia’s Warren Buffett owned 1 billion shares of BUMI or at that time the equivalent of 2.7% in these shares. He admitted

“The worst thing was when I bought BUMI’s shares in large quantities and the shares fell to Rp. 50, fortunately I had the strength not to sell my shares at Rp. 50, I even bought more. That’s the lowest position in my life,” said Lo Kheng Hong in the video uploaded to the Instagram account @lukas_setiaatmaja, quoted Monday (26/4/2021).

Even at that time, news got out that this famous investor had gone bankrupt when the share price did not rise. However, he still believed at that time because he had no debt at all, and even still had other assets in the shares of PT Petrosea Tbk (PTRO).

Even though he lost a lot of money, he remained focused on his current assets, not on the assets that were missing in those stocks. This still makes him not stressed, even he still has time to fill classes at Prasetiya Mulya University.

“But when I’m at the lowest point, I get the greatest knowledge. When I’m at the lowest point, my stock knowledge gets great, really great. I buy stocks more carefully, think longer,” he explained.

After one and a half years of holding this stock and feeling a loss, finally Lo Kheng Hong managed to sell this stock at a price of Rp 500 in 2017.

Maybe this can be a lesson for stock investors who are currently still eager to enter the stock market, but feel upset because market conditions have not improved and have even tended to fall in recent times.

[Gambas:Video CNBC]

(hps / hps)


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