hi guys we just finished the financial

fitness forum and we're in for a treat

I'm wina Verma and with one of my idols

one of the people that we should listen

to in the financial industry because he

not only just talks but what he talks he

backs up with his life and that's what's

amazing about it that you see people who

really believe on what they say and do

and it's what he does it's worth

emulating and talking about the man the

myth the legend LOL mendosa hello yeah

so of course people know who you are but

these there's probably snippets of your

life that people can learn that they can

be inspired about this so first question

when did you make your first million

many people know that came from nothing

i'm de la loma Sampaloc boy so I I

really have to start from scratch

working on a job that my father didn't

want me to take because he wanted me to

be a lawyer

oh I did not I ran away with the tuition

money I started the job so from age 20

was in college age 21 to 27 I worked on

my own I started investing so I said

maybe in six years you know I I really

earned that first million six years net

worth right but the strategy that I had

was to earn the next ones in half the

time in the next one in again half the

time so it's all an accumulation process

that that was unstoppable I didn't know

you did did you graduate from college or

no no no no I did but it was a pre no

force which I you know took up business

I said I'm gonna be corporate law

because my father wanted me to be a

lawyer eventually passing the you pillo

exam about to enroll I got the tuition

money and ran away and got home after

two months with a job so I graduated but

I did not become the professional that

my father wanted me did he get not after

of course he wasn't talking to me okay I

was his last chance I was the youngest

in the family I was his last chance to

have a lawyer and he didn't get it No

I ended up to be in his words the only

non-professional but what justice'

they lived their twilight years in my

place with my wife so I took care of

them when they were old Wow very nice so

you said that it was half the time no

from 1 million through the next level

then then the next pair of did that

happen because you were climbing the

corporate ladder very fast or was that

more entrepreneurship that's really more

of passive income because you know even

if I was like a fast rising star in

corporate I mean how much do they give

you whenever you get them oh not really

that much but it's the money that you

set aside any invest right stock market

I was and I was in the stock market very

early and and that's where it became

exponential because the more I

transferred money from passive income

what I earned

you know transferring it from active

bingham to passive income that's when it

really really rose very fast what was


when you were single you were a lot

being a portion of your income to it

you're only happy that you're putting

everything almost everything because

even if my dad hated me eventually I

came back home and live with him okay

exactly so almost like you know and and

I felt I can take a risk why if I fail

he will still feed me yeah right so from

then until I got married in twenty nine

nine you know when I was 29 I got

married from that time you know I was

continuously investing III think 20% is

a low I mean definitely most of the

money that I got stock market balloon

Wow I remembered from one of your

stories you bought the led then is it

dropped can you tell me more can you

tell more about what I bought pldt you

know that was when Aquino got shot right

it started at 11:50 I was starting to

invest at 11:53 up to 650 dropped to 350

but my context then was pldt a

well-managed company

it's a monopoly you need the phone you

need to line up they give you a line a

party-line capacitor right that was how

dominant it was okay so I felt as soon

as the economy turns around PLDT will

fly in shereena from 350

it became 1,000 mm-hmm that's where you

took profits actually up

I took profits because my wife wanted to

buy a house oh yes question of stock

market related is there anything that

you see in the same pattern lfs pldt was

before in today's setting is there

anything that is probably battery down

that would be a bit expensive but you

think will be another growth sector in

this economy I think I can say for all

the stocks that we have today they're

all badly battered because I'm one was

happening right so if you're you know

people who are buying Iola lenders for

at 47 now it's trading at 40 or even a

little under 40 they're not buying it I

mean that's real value so I feel the

entire market is selling down value

stocks which we can pick up today I

don't care if it goes a little further

I'm not like you I'm not that trading

you know personality but hey I have the

cash flow so if it goes down I'll buy

more if it goes down I'll buy even hmm I

have the liquidity because when I was

going on when it was going up I think we

all do that I pop slice it mmm oh my god

slice so I have the liquidity so I'm not

worried about this nice here's something

interesting the BSP doesn't I don't know

if you're okay no this is a bit

technical this is a bit technical the

BSP maintain interest rates the people

were projecting that they would increase

yeah it would be it's something that was

part of the projections already now with

that how do you see it how do you expect

more volatility in the markets or how

does it change the way you would invest

and three this well I will because

percent for most obviously I will have

to mix a bit of this portfolio and move

certain assets into dollars mmm

obviously the the currency will be

weaker let's face it so if I have an

allocation of 20% of my assets in

dollars it will probably be 30 or 40 in

the next few months okay I will be doing

that second there would be

vulnerabilities in our you know in our

economy especially in the companies that

are dollar earners

okay know the dollar earners they will

be getting more of a plus

but the guys were like important debted

importing people who are negative on the

dollar I'll be worried about getting

involved in these companies do you think

this will because of what the BSP did

also know they they increased the

reserve rate at the decrease of reserve

rate meaning more more liquidity inflow

and against them are you scared about

how that impacted nations as well and

that's why the inflation is that's why

inflation is almost like runaway I mean

any in the last two months

but you see III well I don't agree the

BSP is making a bet that the economic

growth will push the nominal side so

much so that even if it's inflationary

there will still be real girl okay and

because of the build build build program

they're just gonna take the liquidity

and pour it into the countryside so

there is logic to it I'm not saying

they're sleeping on the job but maybe

they don't have the same thinking as we

do maybe they have different priorities

that's that's the way I see it but

instead of contradicting what they're

saying I'm going to be looking at the

opportunities like some companies are

going to be blessed but some companies

are gonna be challenged I will move

money to the companies that will be


you take consumption stocks will because

of what they did with a tax-free formula

they had annexed more people have more

disposable income now that it will

somehow compensate that rising inflation

but more disposable income

I don't want affect the Jollibee won't

affect the shaky store the fact that

your gold still on the contrary they're

gonna be moving up mmm because of the

consumption see the problem we have in

this country is that there's more

disposable income being thrown out

because of train technically what these

guys should be doing is saving that

money right they should be saving that

money so that they're not gonna be

paying taxes because taxes have shifted

from income to consumption yeah the

problem is if they're gonna consume they

will be paying eventually more taxes so

I'd like people to start thinking about

what they got that seven percent of

income to invest that and invest that on

a continuous basis as if they did not

get the facts break because if they

spend that they will be spending more on

taxes moving forward

I guess people say okay

is for the poor yes I will agree if the

poor doesn't spend it the rich does not

spend enough money as a percentage of

their total income like the poor does

and that's a reason why this is a plus

for many of them right so me I'm going

to be looking at it that way I mean and

that's a reason why we have a tough job

to do we have to educate more people we

have to ship them to savings and

investments and not consump you you

advocate a lot about investing in front

specially for people who I don't know

they don't have the time or the know-how

to go into it what's your I guess

biggest stake or encouragement for those

that are still scared in spite of the

great economic conditions they have more

disposable income right now what's

something that you could you can say to

actually drop them you know there is no

excuse anymore today a mutual fund

investment can go for as low as 1,000

pesos and I'm not kidding 1000 even 500

so there is no excuse even a security

guard can open an account like that the

important thing is to start setting

money aside continuously allowing

yourself to trust a fund manager who

knows the markets better see if they

know the markets better your job is just

to contribute continuously to build your


the thing about mutual fund investing is

that it's a long-term and if you're

doing this on a consistent basis the ups

and downs shouldn't be relevant to you

so look at your dreams look at the goals

that you've set for yourself and forge

the discipline because as I've said in

today's financial markets capital market

development is gone to the point where

even the small guys can now participate

again 1,000 to start on a hunt 1,000 to

add on a monthly basis I don't think

that's much so anyone can do it in any

money what anyone must do it now watch

these videos are normally the 25 to 45

year old age group what he suggests

equity balance bond they distract the

PSE eye as a whole where should they

invest if they're they probably have

more than 20 plus you're still holding

their money and there's more disposable

income now for people who are younger

because of the

BPO industry and a lot of remittances

that we're getting best performing asset

class on a long term basis as long as

you have the horizon would be equities

whether you want to manage it because

you're listening to this guy very pretty

hot right or are you asking a fund

manager to do it for you putting your

money in equities will be the blessing

that you're going to look at if you have

that long runway that will always work

all right

last two questions before we put this so

close your takes on crypto currencies

bitcoin etherium and not-not-not this

model codes but just the mean the main

ones me unlike you I'm still avoiding it

okay not that I don't believe it in fact

you know one of my idols Christine

Lagarde said never never discount that

it can be the future so I'm trying to

learn and understand it and that's a

reason why I'm not into it yet because

I'm not yet comfortable I might get

there maybe sometime soon or maybe even

later but for the moment I'm not that

comfortable all right lastly for for the

next generation what what can you say to

people who are dreaming to be like you

someday any inspiring words to just

close this video up start off with great


it's always the why start with your big

why and move it to major goals goals

that you like for yourself goals that

you're gonna be working on again and

again and again within your track so

don't let people steal your dreams dream

big dreams because you'll be able to

fulfill them if you just put on the work

if you just put on the discipline

amazing this is just 12 minutes no but

if you want to get more of this you can

catch this in this book yeah I'll feel

blazing success it talks about how you

it's my success man everything from the

Y that I said to the goals to the

execution to the follow-through so if

you want to learn more about it there is

a national books already already so

thank you guys videos like this are

really here to inspire you that you can

learn a lot from different people that

we can hear their stories and from that

I hope that it inspires you but it also

encourages you and pushes you

to invest and if there's one thing that

you got from this I hope it pushes you

to start something because if you don't

start something

all of this will just be head knowledge

so from the financial fitness for room

thank you so much guys and see Rex

Mendes again in icon 2018 in Samsung

Hall also here in SM so see you and may

god be there see you thank you sir