What I learned from the 1997 Asian Financial Crisis

[@falsal6674]

Thank you for this excellent presentation,

[@juanmiguelflores7163]

This channel is a gold mine. Just found you channel today wonder what took youtube long to recommend this vid. Will watch more vids in the channel.

[@gashi6134]

I am working on a presentation for my masters in Financial Management on Asian Crisis, and I came across this video. I am so happy that I did! Thank you so much, not only for the explanation but for the life tips as well!

[@Andrew_Stotz]

Egzon Gashi my pleasure! I was right at the center of the 1997 Asian Financial Crisis...it almost wiped me out!

[@RahulSoni-xv4cz]

" personal parts of story" are very enlightening

[@eamesBot]

Just found this video, very informative. Thanks so much for sharing. Will go try your coffee house if I go to Sukhumvit 26. Thanks!

[@Andrew_Stotz]

Thanks so much! You will find our Experience Center there...tell them you are a friend of mine and hopefully you will get a good cup of coffee at a discount!

[@thomson4420]

Great video. Try to learn this during the Coronavirus crisis

[@Andrew_Stotz]

Thank you!

[@peteri3815]

great lessons and perspective, thank you Khun Andrew

[@SS-wz8po]

Thank you so much for the video, Andrew. Thanks for sharing your experience with all of us. Trust is the key. Friends and family members who give us the confidence and trust us... Great advice! May God continue to bless you and forever in life.

[@Andrew_Stotz]

Glad that I could help 🌹

[@jensditrich3980]

Thanks for sharing your wisdom 🙏

[@groovedarete]

There are some lessons for life from Andrew's story and applicable to all of us. The personal parts of his story are the most profound but his comments on growth are also worth tucking away in one's investor toolkit.

[@Andrew_Stotz]

Life teaches us so much through pain. :(

[@fredaamour4121]

Thank you for this. I have a test in a few hours... lol. I've read a few of your work on this topic, but never put a face to the name. Nice to know who I will be quoting

[@Andrew_Stotz]

cocofreda 3 always be learning 💪

[@UllahMohd]

I got couple of questions. 1. What exactly you would have done different before 1997, if you knew that this particular crash will happen in 1997? 2. What did you do different after the crisis other than cost cutting to overcome such behemoth crisis? Thank you for the experience you've shared for us. It means a lot!

[@falakoala4579]

great story. thankyou for sharing. Adversity makes you stronger and wiser

[@Andrew_Stotz]

Absolutely!

[@vaxen805]

Amazing advice

[@Andrew_Stotz]

vaxen805 thanks 🙏🙏

[@bernicelxy]

I love this video so much. Thank you (:

[@Andrew_Stotz]

Glad you enjoyed it!

[@davidying3255]

very inspiring...especially those experiences learned from AFC, trust is utmost, money is just money, help others, pain partner growth and get into action!!!

[@Andrew_Stotz]

Thanks David. You highlighted to me at our breakfast the other day a value of CFA that I had not fully comprehended. That the trust factor is very high between CFA Charterholders as we know what each has had to do to achieve the designation and also we know that each must follow our Code and Standards :) Trust indeed!

[@moheuddin_sehab]

I love your video it'ss very informative

[@Locomamonk]

I finally understood it, thanks so much!

[@HMAventus]

What an energetic ending!!

[@Andrew_Stotz]

David Choe yeah! And now you know the importance of an energetic ending!!

[@SPCBOE]

That was awesome info. Thanks for sharing your experience and your advice.

[@NurhanBerk]

Thanks for this video, one of the bests on youtube.

[@Andrew_Stotz]

Thanks for watching! I have new video series, where I reply to the questions of young investors: kzbin.info/aero/PLj1Bf6LZ_QlOrQuV94c89H4tz2GNxBW5K Keep watching! Will be glad to receive your questions.

[@Adriencheng1978]

8:56 this man predicted the china housing market crash in 2023, and he did it 7 years ago. That’s quite a foresight.

[@abhinavitsmebellamy]

Thank you, so much for this!!

[@Andrew_Stotz]

Abhinav Gautam my pleasure

[@sebholding]

maybe its ok to loose your net Worth as long as you have incomes to support your family, however if you have the incomes then money start to be Something very important…

[@dongkhon]

Thank you for sharing your valuable experience Andrew. Love how you stood up against all those crises. Mike's quote at the end of your video is truly meaningful. At the moment, Vietnam is entering the same situation like you mentioned: property/real estate sector is booming and its prices are skyrocketing. The supply of new homes and apartments is flooding the market. 50% of the top 10 richest Vietnamese people Vietnam is working in the property/real estate sector or partly related. Bad-debts are being repurchased by the State Bank. What would you do to protect yourself from any financial crises? Do you think gold is the king of all financial crises?

[@Andrew_Stotz]

Tieu Ho Welcome! Definitely hold different asset classes than just one or two. Ideally invest some portion of your wealth outside your home country (not easy in most countries in Asia)

[@groovedarete]

Agreed entirely Tieu Ho.

[@dongkhon]

Do you think Crypto Currency is one of the asset class worth holding at the moment? In the future, are there any possibilities that Crypto Currencies replace Fiat-currencies?

[@secrets.295]

Wow I didnt know Vietnam is doing that badly right now mainly because u hear stories of how fast Vietnam is growing. My prayers are with u

[@muhammadardan9795]

How can a crisis in Asia impact jobs and profits on the united stated?

[@StanStanoi]

mahathir has to step aside gracefully and let anwar deal with it now

[@nourosama3752]

🙌🙌

[@thisisziahassanrupu]

Lovely man.

[@Andrew_Stotz]

Thanks for watching! I have new video series, where I reply to the questions of young investors: kzbin.info/aero/PLj1Bf6LZ_QlOrQuV94c89H4tz2GNxBW5K Keep watching! Will be glad to receive your questions.

[@emiliobarriga460]

Amazing video, and I almost skipped it

[@Andrew_Stotz]

Emilio Barriga thanks. Let's keep learning 💪💪

[@georgedoolittle7574]

*THROUGH INFLATION ALL PAY.* Move along..

[@timibalogun3619]

Hello Andrew, thanks for your video. I wanted to ask, what do you believe was the effect on the relationship between macrovariables (eg unemployment, inflation, GDP etc.) as a result of the crisis?

[@Andrew_Stotz]

Thanks for your comment. Can you clarify your question just a bit? You mentioned as a result of the crisis are you talking about after the crisis? Or are you talking about the interaction of those variables leading up to the crisis? Happy to answer

[@timibalogun3619]

@@Andrew_Stotz Hi Andrew, thanks for replying, I am talking about after the crisis. I'm interested in how the determinants of unemployment change as a result of the crisis and why (in terms of strength of relationship) in order to recommend policy to tackle it post crisis. Thanks again!

[@timibalogun3619]

That is, what is the lasting legacy of the crisis for the determinants of unemployment (how the approach to reducing unemployment should change) as a result of the crisis for countries affect. Just a bit more clarification

[@Andrew_Stotz]

I am not sure if I can answer this correctly but let me give a try. During the aftermath of the crisis banks were devastated and companies to. Nobody had money or budget to expand their business they were all trying to cut. Everybody had to consider cutting staff or staff pay or certainly staff bonuses. So we definitely had an impact on unemployment. But I would say that the typical Asian behavior is usually to try to keep the staff with you. So in many cases company owners did everything they could to keep their staff. It wasn’t for a few years before employment opportunities rose again. I’m not exactly sure if there was another way out. Remember nonperforming loans were 55% of total loans and in 1998 the economy contracted by 11%. So on a global scale it was a very severe economic crisis. To tell you one story of a friend of mine who is a successful stockbroker, he ended up making sandwiches and selling them on the roadside. So

[@ronnatalia3130]

we learned that government really does not own the losses but the taxpayers do. That is why I ask why allow your government to be swayed by strong lobbyists when the result would clearly result to losses as they were not investments in the form of bail out? We know the results now.

[@Andrew_Stotz]

Very true. When any business or bank is able to control politicians and get special deals for themselves it’s a problem. It’s also a problem when banks are Over regulated and not allowed to suffer from market forces.

[@akultisgod5538]

the usa is about to go thru worse

[@eddicks515]

Awesome video Andrew.. I have a feeling China is getting ready to pop.. banks are failing , and a currency crisis might be the next blow. (nobody see it) Trying to figure out what happened in 1997.. haha

[@laysz]

Just 3 letters. MMT.

[@carlostexeira8020]

if you think crisis come each 10 years you are wrong. 7 days per week 12 months 365 days each year each century for the rest of the humanity. Do you desagree? Go to hell.