Kwon Joon’s name becomes public attention. The South Korean boy who was only 12 years old was able to multiply the profit to 43% just from shares. How come? Check out the full story below:
Kwon Joon idolizes Warren Buffett. He even aspires to be The Next Warren Buffett at his adult age. From that dream, his hobby in the world of stock investing emerged. Kwon pestered his mother to open a stock account last April with a savings of 25 million won, equivalent to US $ 22,400 as the initial balance. At that time, the KOSPI benchmark index was actually starting to recover from its biggest decline in a decade.
“I persuaded my parents to open a stock account, because I trust an expert who said (on TV) that this is a once-in-a-decade opportunity,” Kwon said, quoting from Reuters, Wednesday (10/2/2021).
“My role model is Warren Buffett,” he added.
Kwon: Prefer Investing in Long Term
Kwon admits that he is more interested in investing in the long term than in short-term trading.
“I want to keep my investment for 10 to 20 years with a long-term perspective, hopefully maximizing my profits,” he said.
Kwon prioritizes the fundamentals or value of a stock, so his choice always falls on blue chip stocks.
To note, about 70% of the 214,800 stock brokerage accounts for minors are at Kiwoom Securitas, the most retail-friendly brokerage in South Korea, with a market share of more than a fifth of its total capitalization. Kiwoom Securitas was only founded in January 2020.
Kwon, in his spare time, always takes the time to make a wish list of buying shares, which he does during market corrections. The choices are not far from a technology stake between South Korea’s biggest messaging app operator Kakao Corp to the world’s largest memory chip maker Samsung Electronics Co and Hyundai Motor.
Kwon Joon’s success also reflects the employment challenges for South Korean youth, despite being among the most highly educated groups in the OECD clubs of developed countries.