Have you ever had somebody approach you with a new investment product that seemed to be “Too good to be true?” What was your response? If you are like me, you probably had reservations and probably wondered what the real story was.
I’ve been tested enough faulty products, MLM businesses, and million dollar get rich schemes, that I am skeptical about anything that seems too easy or doesn’t require much time and effort.
Yet… what if found a cool new investment product… would you have enough faith to do it?
This is what Tony Fernandes founder of Air Asia's story was. He mortgaged his home and sank his savings to acquire the company, comprising two ageing Boeing 737-300 jets and USD$11 million (RM40 million) worth of debts, and transformed it into an industry player. Coming just after the 11 September 2001, undoubtedly the worst day in the history of commercial aviation when nobody wanted to fly, everyone thought that Fernandes had gone "crazy", predicting that the company would fail miserably. Yet, just one year after his takeover, AirAsia had broken even and cleared all its debts. Its initial public offering (IPO) in November 2004 was oversubscribed by 130 per cent.
In 2007, Forbes Asia valued Fernandes' personal wealth at $230 million ranking him at number 24 on the Forbes list of Malaysia's Richest.
So my question is .... Are you ready to invest?
No comments:
Post a Comment