December 23, 2020 12:50
Women achieved higher returns on stock investments than men this year. Their profits on the domestic stock market averaged 24.2 percent, compared to 18.3 percent for men, according to NH Investment and Securities on Tuesday.
The highest returns were achieved by women in their 30s with 26 percent from January to November, while women in their 40s saw 25.7-percent returns.
Private investors snapped up an astounding W65 trillion worth of stocks, six times more than the previous record of W11 trillion in 2018 (US$1=W1,107).
The main reason seems to be that women are cautious investors while men fancy themselves big wheeler-dealers.
Pyun Deuk-hyun at NH said, "The Korean stock market this year did not grow across the board, but some bullish issues posted steady growth. Holding on to them steadily worked better than buying and selling repeatedly."
Women settled for safe blue-chip stocks, the most popular being Samsung Electronics. But men flocked to things like the KODEX 200 Futures Inverse 2x, an electronically traded fund that aims to achieve twice the returns of market declines, so many who bet against the market lost money when the local bourse soared to new heights.
One housewife said, "Everybody these days talks about the stock market. I'm a total novice to stock investing, but I bought Samsung shares and treated them like a long-term savings plan." "I'm not going to get rattled by short-term fluctuations in the stock price, because I intend to pass them on to my daughter," she added.
Stock consultant Nam Dong-joon said, "Women in their 30s and 40s tend to be too busy raising their children to be aggressive stock investors, but the latest bull run worked in their favor."
Men in their 20s fared poorly, achieving a paltry 3.8-percent return on average on a frantic turnover rate of 68.3 percent.
- Copyright © Chosunilbo & Chosun.com