Is it the gift of the gab that can take an advisor to the top? Quite the opposite, says the chairman and CEO of one company that continues to grow its operations across Canada.
“I’m a strong believer in listening,” says Gary Ng, chairman and CEO of Chippingham. “Over the years I have learned that when I’m talking I’m not learning, but when I take the time to listen and observe, I pick up a tremendous amount of knowledge.”
While the markets are constantly talking to us and while a lot of people see this as noise and like to comment on swings and volatility, I find most investors aren’t listening to what the markets are trying to say, says Ng.
“There’s never going to be a bright flashing neon sign saying ‘BUY HERE!’ or ‘SELL NOW!’ but there’s enough crumbs of data, movements in markets, and macroeconomic forces to tip the keen observer in the right direction” says Ng. “The trick is to make yourself sensitive to these whispers and then act on the information – not just talk about it.”
Being a successful advisor, trader, and leader it’s more important to listen than ever before. With market gyrations at never before seen levels, says Ng, keeping calm and paying attention to what is actually happening over all the rest of the distractions is the key to success.
Ng takes pride in the fact that Chippingham successfully called the top of the Composite Shanghai Index on June 10 and recommended to their clients to sell all their positions in Chinese ADRs and Index Funds.
“We sub-sequentially bought Puts on the same ADRs we were closing out and not only locked in substantial profits on the way up but also significant profits on the way down,” says Ng. “While the field wasn’t listening to the signals, we were keenly paying attention, acted on the information and profited.”