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Godahewa cautions youth against blindly investing in stock market

27 Oct 2021

  • Former SEC Chair says CSE in a ‘bull run’ and investing should not be done with a herd mentality
There may be a tendency to be lured into investing in the stock exchange due to the recent “bull run”, among individuals, particularly youth, who are not sufficiently knowledgeable about the stock exchange, State Minister of Urban Development, Waste Disposal, and Community Cleanliness and former Securities and Exchange Commission (SEC) Chairman Dr. Nalaka Godahewa said.  He made this remark last morning (26) during a live TV programme on Ada Derana adding that the share market is an entity that can be risky and offer benefits when it comes to investment.  “I tell young people who are investing in the stock market not to get caught up in this trend and invest in the stock market by merely watching what someone else is doing. The stock market is a place where you can get good returns and a risky investment,” Dr. Godahewa warned.  However, he added: “One good thing is happening. With the newly listed companies arriving, the aforesaid market would alleviate this matter to some extent because there is an opportunity to divide these investments as no bubble has been formed thus far. In this sense, it will inflate and explode when its value exceeds. “In 2014, the stock market grew by about 350%. By December 2014, the All Share Price Index (ASPI) reached 7,200 units. We had an award for being the most sustainable stock market in Asia. At that time, it was relative to economic growth. For the remaining five years, the stock market crashed. As the ASPI fell, stock market capitalisation plummeted from $ 25 billion to $ 15 billion, as I recall. That means the stock market value has plummeted.”

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