Central banks have been printing silver paper, coupled with ultra-low interest rate policies, attracting hot money to the stock market, driving global stock markets to record highs. Foreign news reports, a 12-year-old elementary school student in South Korea, last April to convince his Parents to use 25 million won (about 173,000 Hong Kong dollars) of savings to buy stocks, he invested in Samsung, Hyundai and other top-performing stocks, the results of a big profit of 43%. Now he Dreams of becoming Warren Buffett, the stock god, and says, “Instead of going to Seoul National University, I’d rather become a great investment expert…
This is the phenomenon of stock market frenzy under the asset bubble. In fact, in the digital age, there are more ways for young people to make money with the Internet, such as making short films, talking and dancing to the phone camera, and then they can become net stars and make money. This is a force for innovation, but in reality it is subverting the economy, distorting traditional values, and posing a serious challenge to long-term economic competitiveness.
Kwon Joon, the South Korean elementary school student mentioned above, heard on TV last year that stock market experts said it was a once-in-a-decade investment opportunity, so he persuaded his parents to use their savings to open a trading account as an investment fund, and took advantage of the low point to buy stocks with high performance, such as Samsung and Hyundai, and got a high return of 43%. He said that his personal idol is Warren Buffett, a billionaire investor in the United States. Instead of focusing on short-term trading, he wants to stretch out his investment Time by 10 to 20 years, hoping to maximize returns in the long run.
In fact, investors like Kwon Joon, who invested in blue-chip stocks with the money gained from New Year’s Eve dividends and selling car toys to pursue “value investing,” also contributed to the surge in retail trading in the South Korean stock market during the Epidemic. South Korean stock market retail investors are increasingly teenagers, or even younger investors, retail investors accounted for more than two-thirds of the stock market turnover last year, while in 2019 this proportion is less than 50%. This trend is attributed to the South Korean stock market surge and attracting parents who are no longer disillusioned with the Education system to invest, coupled with the millennial generation working from Home.
Lee Eun-Joo, Kwon Joon’s mother, was quoted as saying, “Is a college degree really that important in this day and age? She hopes to expose her son to more financial business because it will inspire him to invest. She also said that nowadays, living in a different world, it may be better to be “unique” and even a good education may not help her son get a better job.
In fact, the young student’s success reflects the employment challenges faced by young people in South Korea. As of January this year, a quarter of South Korea’s young people were unemployed, the worst boom on record. There are not enough jobs for college graduates, so many people are turning to diversified jobs early, speculating in stocks and being a netizen are seen as ways to make money.
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