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Not being prepared for the X factor

Video Transcription

The more you know about the most common mistakes that investors make, the better your likelihood of building lasting wealth.

In this series of short 3 minute videos, Ahmad Imam and I discuss the common mistakes I’ve seen investors make.

Today we discuss what an X-factor is and how you can prepare for it.

As the saying goes, you should always ‘expect the unexpected.’

Watch today’s video as I explain why…

Some of the points we discuss:

  • An X factor is an event that comes out of the blue, that was unexpected, which could be local or overseas that undoes all the predictions and all forecasts you had made.
  • a new X factor comes up every year, sometimes the positive and sometimes the negative - so it is something that property investors need to be prepared for.
  • Some recent X factors included:
    • The election of Donald Trump and the initial uncertainty created and the world economic uncertainty that has followed with the trade embargoes and the like.
    • Couple of years ago the Chinese economy unravelled affecting many countries including Australia. For years the booming Chinese economy supported Australia's strong growth, and all of a commodity prices plummeted affecting Australia’s exports.
  • 2011 there was a debt crisis in Europe that came out of the blue
  • Almost a decade ago, the sub-prime crisis in the United States led to a Global Financial Crisis and the worst depression we had almost a century.
  • 2007 the RBA increased interest rates 3 times and put a halt to our rising property markets
  • Looking back further there was a dot.com crisis in the early 2000’s and an Asian Financial crisis

With thanks to Michael Yardney's PropertyUpdate.com.au

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