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
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Resources:
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
8:33 – Insights into the first failed investment
9:25 – 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
You can also check out Andrew’s books
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My Worst Investment Ever Podcast