ONE of the most prominent businessmen in the 20th century was a man called Joseph P. Kennedy (President John F. Kennedy's father). In the 1920s, Joe Kennedy invested in stocks and later claimed that he knew it was time to get out of the stock market when he received stock tips from a shoe-shine boy. The rampant stock speculation of the time eventually led to the 1929 stock market crash and, subsequently, the Great Depression.
I am reminded of this story when I see that, today, people seem to be investing their savings in many properties at once. Those without savings opt to take out bank loans to finance such investments. Just yesterday, the tea-lady told me about a “hot new property” to invest in. While this alarms me, I'm not saying that as a serious investor you shouldn't invest in properties. To the contrary; it is still possible to invest in properties and not harm your financial portfolio.
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