Welcome to the World of Finance!? - The UOS Times
The UOS Times
Welcome to the World of Finance!?
Kim Yoo-jin  |  silence56@uos.ac.kr
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[0호] 승인 2007.04.20  
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There are two afflictions for twenty-somethings in Korea these days: career and money. As you know, youth unemployment is growing faster than ever. For that reason, financial technique has been a topic of hot issue among university students. Recently, this phenomenon has developed from the level of `saving money` to that of `increasing your fortune.`

Twenty-somethings who dream of being a person of wealth or running big business are everywhere. There are a few ways for university students to earn money, for example, doing private tutoring or having a part time job. However, they are not satisfied with just making money. They are jumping into the financial world and seeing their money work for them in stock, funds and real estate trusts. As the number of students who are financially minded grows greater, financial techniques have been spotlighted in our society. Let`s go and check out this trend.

One of university students` topics of conversation is about saving money. Financial books are listed as best sellers and lectures on the subject are filled to capacity. However, there are also side effects, students can gain an undesirable credit rating or lose large amounts of money. Thus, there are two arguments concerning the financial activity of twenty-somethings: on the up side, `Bill Gates also decided his life-path by age twenty` and; on the flip side, `there is no reason to enter the financial field too early; we have to lay the foundation for our lives and study.`

In accordance with this trend, relevant university clubs are crowded with freshmen who intend to gain more professional knowledge about financial techniques. Some of them have a wide range of activities from stock trading through raising funds together, to studying the principles of political economics and circulation of money. Under the influence of these trends, other students who are indifferent to finance also begin to become interested in money management. But they stand on the extremes of success and failure; swiftness is very important to cope with the movements of financial markets and sensitivity to perceive even very tiny changes.

On the other hand, they can also bring losses on themselves by trading hazardously with insufficient knowledge. Every trend may be a bubble with risk. The youth who are just interested in being rich run the risk of becoming easy prey, following the groundless fantasies of the trend. Some university students who have youth, curiosity and time can fail because they have not sufficient professional knowledge. As time goes by, the meaning of wealth is changing.

University students recently tend to think that access to wealth is more valuable than the result of wealth. They are learning the authentic value of money and how to best manage their funds. These trends are clearly valuable and necessary. There are, however, some students taking financial risks without sufficient preparation, driven by uneasiness about their future. However, such blind speculation is not useful. They should thoroughly prepare themselves prior to leaping into the financial world.

What`s happening in the UOS?
In keeping with this trend, let me introduce a financial technique research club at the UOS. The club, named `UOSstock`, is composed of around 30 students who are interested in the stock market. Amazingly, their capital has become a sizable amount accumulated through working part-time jobs. Each member raises a minimum of one million won to a maximum of two or three million won. To learn actual market circumstances, a small seminar called `Blue Marble` is held. For example, they do the study, searching for real estate business and issue a paper showing their projected outcome for everyone. The presentations about the results of their business organization analysis are already under way. And you can connect with them by having access to the club web site. http://www.uosstock.com

1. Protect your capital; Warren Edward Buffett, a man of remarkable talent for financial techniques, said. The first rule you have to remember is not to lose your capital and the second is not to forget the first rule.
2. Be as specific as possible when deciding to save or earn money. A precise reason makes you be strong and patient.
3. Don`t put all your eggs in one basket. You had better diversify your risks. A few different baskets decrease your risks.
4. Don`t be greedy. You already know it is impossible to satisfy all of your desires. Manage your expectations with realistic earning rates.
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