Investing.com - Schoolboy Kwon Jun, who is 12 years old, often flashes in the business news of South Korea, and not only in connection with his dream to become the following "Warren Buffett", but also due to the fact that only last year He earned on his hobby - buying shares - a huge profit (stock purchased stocks increased by 43%), writes Reuters.
His passion for the shares began with the time in April last year he persuaded the mother to open a retail trading account on saved 25 million collars ($ 22,400) as initial capital. The moment for this was the most suitable - the Kospi stock index began to recover after the largest fall over the decade.
"I convinced my parents in this, because it believed an expert who stated on television that such an opportunity was falling in a decade. My model for imitation is Warren Buffett. Instead of short-term, targeted day trade, I want to preserve my investments within 10-20 years with a long-term perspective to maximize profits, "he says.
Among the stock purchased shares are the shares of the largest application operator in South Korea to exchange Kakao messages, as well as the shares of the manufacturer of the Samsung memory microcircuits and the Hyundai Motor automaker.
Today, novice investors in South Korea, many of which have so far only teenagers seek to "invest in the value" shares of "blue chips" at the expense of their own savings and funds received as a gift. It was they who headed the rapid boom of retail trade against the background of the coronavirus epidemic. There are more than two thirds of their purchases from the total value of the country's shares, whereas in 2019 there were less than 50%.
The pandemic accelerated the trend towards remote work, study and trading. Inexperienced investors of lovers from among the parents disappointed with the traditional education system, and the younger generation - Millenialylov come to the market.
Kwona's mother, whether Yun Zhu, who largely contributed to the passion of his son, expressed doubt in traditional education and its benefits for the current teenagers: "I wonder if a higher education will be so important. Since now we live in another world, it would be better to become a professional in something one, "she indicates. Like many parents, she fears that even a good education will not be able to help her son against the background of a global problem - reduce employment opportunities.
One of the main difficulties in South Korea today is that in January every fourth young citizen of this country was without work, which is the worst indicator in the entire history, despite the fact that the country is one of the most educated in the OECD Club.
- Preparation used Reuters materials.
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