Vindicated

@sunrisefan (16716)
Philippines
May 30, 2016 9:38am CST
Just arrived from our Investment Committee meeting tonight a few minutes ago. We started at 6PM and ended at almost 10. We discussed many areas of investments including the hotel we're planning to build. The Chairman requested me to attend the special Board meeting this coming Friday to discuss the final feasibility study on the hotel. We discussed other possible investments for our excess funds and I inquired about the stocks which I have recommended that we invest in some years ago. The directors then at the time were mostly from the academe and were adamant on stock market investment. We inquired from the Comptroller about the original acquisition cost of one company stock that we bought and she replied that it was P250 thousand. The stocks we bought then is now valued at P12.7 million and this vindicated my recommendation to invest in stocks which was received with cold shoulders from some directors then. Aside from the rise in value for the stocks, we have received cash dividends for them over the years. Since juridical persons are not allowed to do online trading, I suggested that we dispose of the shares so that we will realize the income from the sale which is only paper gain if we do not make the actual sell transaction. The Investment Committee Chair then got the approval of the rest of the committee members to recommend sale of the stocks as soon as possible while prices are still high.
5 people like this
5 responses
@toniganzon (44344)
• Philippines
31 May 16
Wise move.
1 person likes this
@sunrisefan (16716)
• Philippines
31 May 16
Don't know if that was how they thought when I first suggested that we invest in the stock market.
@toniganzon (44344)
• Philippines
31 May 16
@sunrisefan I have no idea what they thought.
1 person likes this
@sunrisefan (16716)
• Philippines
31 May 16
@toniganzon Hehehe!
@Amel94 (1746)
• Serbia
30 May 16
It seems that you have really great job. You must be happy with having it.
1 person likes this
@sunrisefan (16716)
• Philippines
30 May 16
Yes, happy indeed that our cooperative will be making money from the recommendation I made several years ago.
1 person likes this
@Amel94 (1746)
• Serbia
30 May 16
@sunrisefan Great, well done!
1 person likes this
@sunrisefan (16716)
• Philippines
30 May 16
@Amel94 Thanks friend
@sol_cee (13959)
• Japan
31 May 16
I can't understand the jargon. Just that they would listen to you now more than ever.
1 person likes this
@sunrisefan (16716)
• Philippines
31 May 16
I won't force them to now. I was even asked by a director that he'll recommend me to sit on the board of a big insurance company for cooperatives where we have a big investment but I declined. It's based in CDO i think. I've been asked to attend the special board meeting this Friday to discuss the hotel project. My partner engineer is also invited. They don-' hold any TWG meeting without the two of us attending LOL!
@acelawrites (10866)
• Philippines
31 May 16
Good luck on your business.
1 person likes this
@sunrisefan (16716)
• Philippines
31 May 16
Thanks :)
• Philippines
31 May 16
THis is why we need smarter politicians. our law for business sucks, not to mention foreign owners had to have a filipino partner that are usually rich and part of political families. good luck with your business then, though I graduated BSBA, still have a lot to learn. my brother is also a sucker for stocks
1 person likes this
@sunrisefan (16716)
• Philippines
31 May 16