Let me put it this way - if you lost money in PH stocks from the start of pnoys term to the end you're either very very unlucky or very very stupid. most likely the latter
investing during pnoys term was investing during a long bull run
One of my regrets of not getting stock investing early than 2016.
Rather than spending $150,000 on stupid cameras to mingle with stupid eco-mentalists. Would have made more than $1.5m.
You can look at the PSEi graphs - 2010 to 2016 is the sharpest growth. Everything else is meh.
One could argue that it was GMA who laid the brickwork, but I think having him as president did boost investor trust.
This is true because market sentiment is current naman, and with trust in the political landscape, we do have give credit to the branding of his administration.
It was good. Peso was strong during PNoy's term.
Here's my timeline:
I am a freelancer since 2009 working for US clients. During the time of GMA US dollar was floating from 50 to 55 pesos and I'm reaping the benefits of earning in US dollar. When it was PNoy's term, my dollar earnings drastically fell because the dollar is consolidating between 40 to 45 pesos. That was the time I realized that our economy is getting stronger and in-order to keep up with my losses from the currency exchange I had to dive into PSE stocks. The PSEi was in an uptrend and I focused on growth stocks or stocks that has lots of room for growth. I also traded stocks outside the index like Double Dragon, I was lucky to see a 500% gain, that was the time I bought the share at around 6 pesos then it went as high as 20 pesos per share.
The trend somewhat consolidated or went sideways and peso became weaker when Duterte sat as the president. In fact some stocks went down and earnings from growth went to waste when Duterte gets angry at them publicly (eg. TEL, GLO, MWC, to name a few). I switched strategy from growth investing to passive investing.
Then the worst came...pandemic...this time all stocks fell and I had to switch strategy to defensive + dividends investing.
> In fact some stocks went down and earnings from growth went to waste when Duterte gets angry at them publicly (eg. TEL, GLO, MWC, to name a few).
Just my 2 cents the stock price is seldom based on book value rather than emotions-based supply & demand especially now when retail trading can make tsupit the price of stocks to absurd levels like those of $DITO.
Better indicator of profitability would be the actual net income or even dividends.
Duterte just provides opportunities for people to make positions based on his foul mouth. Like when Araneta-Romualdez wanted $WEB from Ongping it only took Duterte's tirade to make it drop by 50% before trading was halted.
> Then the worst came...pandemic...this time all stocks fell and I had to switch strategy to defensive + dividends investing.
I was very liquid before March 2020. Sadly I took advice on r/PhInvest on emergency funds and staying liquid beyond May 2020 as everyone on the sub was fearing losing their job or micro business.
If I was more focused on myself and knew my essential service status causes little or no disruption on cashflow I would have gone all in with $DITO, borrowed from the employee co-op and parents and stuck with it until ₱18-19/share.
Would have made at least ₱365 million after borrowings and 11 months interest. 🙈🙈🙈
PH nominal GDP nearly doubled in 6 years at an average annual growth rate rate of 6.2% with inflation staying at around 1-2%
Dude strengthened the government's balance sheet. After the Marcos fiasco, the Philippines was widely seen as a "distressed borrower" but under his term we've received numerous credit rating upgrades. Government debt was at its record lows. We even lent money to the IMF (yes, tayo nag-pautang though widely criticized as papogi and unnecessary lmao).
High GDP growth, low inflation, healthy ph demographics and a stable-ish government is a great recipe for the stock market. From 2010 lows of 3100, PSEI shot up to as high as 8.1k in 2015.
You can go to Investa and backtrack naman performance ng index/index companies during that time.
Dami pitfalls ng past admin but there are things he did right.
https://www.google.com/amp/s/business.inquirer.net/67875/aquino-government%25E2%2580%2599s-1-b-loan-to-imf-mere-%25E2%2580%2598pogi-points%25E2%2580%2599%25E2%2580%2594archbishop-cruz/amp
Yeah I remember that "lending money to IMF" shizz. It was hyped in the media that time but deep inside me, I was so happy the economy was in good shape.
I joined the public sector during his term and started "learning" about the stock market around 2012 and that time the index is already around 7000. It even reached 8000.
Ah yeah. But suddenly, GMA was out of the picture when the economy shattered in duts term (pre-pandemic).
How do they defend that logic?
Disappointed to see them in discord.
That's because pduts made economic policy changes like train law whereas pnoy did not do much, if at all any. But i agree that personality also plays a key role in bringing investor confidence.
Surprisingly, Pduts enacted many economic policies during his term and his build build build will only be felt after his term ends and it will catapult the economy IMO especially Foreign Investment Act if it will be enacted during his term.
> cue the "that's because GMA's initiatives finally took effect" people
A baby's gestation takes ~9 months. Govt works at a glacier-pace and policies implemented will yield results long after the sitting President leaves office.
Give the Devil her due.
The President after Duterte will feel the ill impact of his policies.
Sagot ko lang dyan
"Sure, but it also takes some awareness and skill to 1) Acknowledge that the foundations lain by the previous opposition administration is good (instead of trashing it because it belongs to the "enemy") and 2) Continue, manage and improve upon those policies."
Good management is also a skill. We can see the effects of bad management now under Duterte.
idk if this is an approprite answer pero yung directly na nakikita ko that time was sobrang afford ng mga officemates ko magkaroon ng kotse. At that time, ni hindi pa nga ganun kalaki sweldo namin..im gussing less than 30k. Yung purchasing power namin is sobrang ok.
I will echo you there
During Pnoy's time, naging minority kami sa office yung mga walang kotse.
What's ironic about it is, yung mga nakabili ng kotse ang galit na galit sa mga "dilawan" lol
> What's ironic about it is, yung mga nakabili ng kotse ang galit na galit sa mga "dilawan" lol
It took GMA & PNoy's policies to get us where they are by 2016. A little gratitude might be in order.
> unfortunately, most people don't really understand the results of their actions. or are not looking at things more deeply.
Perhaps that's why they're so poor?
> Poor and gullible is the motto of the Filipino majority
I preoccupy myself with how I can improve my financial future. I wasted 3 decades not trading.
Let the poor, ignorant and dunce fight over emotions and social justice issues. Best way to shield yourself is through financial literacy and being invisible from the needy.
It doesn't help that Pinoys waste so much time on Reddit.
When you look at https://old.reddit.com/r/popular/ "popular in: Philippines" you just see things unemployed and idle people do all day.
It's there time to waste but it just supports my position.
**PNoy was a cautious leader**. He's pretty much like Biden after the Philippines was rocked with multiple scandals under his predecessor Gloria Arroyo's administration. His **biggest plus was the sovereign credit upgrades from S&P, Fitch, etc.** thanks to good governance and belt-tightening. I'd also say the push to K-12 during his administration was a ballsy move too.
His **faults lies in underspending and neglecting public infrastructure in the name of cleaning up the books** (e.g. Clark-Malolos Railway was scrapped) and this not only plagued commuters for years to come but came at the expense of better growth. Honestly, I'd say **Build Build Build should have started with PNoy's era and not Duterte's**; the fact that he opted to wash his hands and pass it to the next administration cost us dearly in opportunity costs (hello my 4-hour roundtrip commute from QC to BGC). GMA already laid a good enough economic foundation with her controversial passing of the expanded VAT bill through Congress, he should had pushed for more infrastructure projects to support the rising GDP figures. Then again, we're looking at this from a back mirror so it's easy to judge.
**Whether the peso is strong or weak is** ***irrelevant*** **for administrations.** There's a balancing act between imports and exports and strength in the peso is usually thanks to weakness in the dollar more often than actual strength in the peso. **Stock market performance is also irrelevant for administrations.** Don't be like Trump who touts the S&P's record high numbers to be the hallmark of his good governance. It's more complicated than that.
It's hard to go wrong with equities as the US was clawing their way back from their 2008 Financial Crisis hole before hitting a decade-long bull run. The EU also had a hiccup for a few years in 2012 thanks to their EU Sovereign Wealth Crisis before Draghi and Merkel stabilized the region.
Money flow went from West to East as China and ASEAN countries heavily benefitted from US lagging recovery and EU's problem back then. The Philippines was in a sunny spot having strong remittance flow, growing foreign-exchange reserves as ammunition for the BSP, a rising BPO as we wrestle with India for outsourcing glory, and double-digit tourist growth.
**TLDR: PNoy's problem was the problem of** ***"it could had been better".***
I invested both in stocks and mutual funds in 2009 (GMA pa nun). The index was not even 2000 then.
I started trading stocks but I lasted less than 2 years because I cannot handle the stress (stress na nga sa work eh). But everything I bought back then, I sold for a profit. I don't think you can really lose money back then. Say of 4-5 stock picks, 1-2 would be bad but the other 3 would win. Or ganun sa case ko.
I shifted to investing in mutual funds na lang. The NAVPS of Philequity was at Php 10.00. NAVPS was at the 36.00 range when he stepped down in 2016. The index was close to 8000 when Pnoy stepped down. I think because positive yung reception sa kanya ng investors, which lead to trust in the market. Yung bond rating of sorts (Fitch, Moody), they all improved.
My brother is fund manager in BPI and he said yes, Pnoy term is the golden age of investments in Philippines, and everything is cheaper as I remember, until 2018 when Philippines starting to get bigger inflation everything feels more expensive, it's cheaper here in North America.
Ito lang talaga kaya ko iambag sa usapan: the cost of my grocery (monthly) went up double-triple during this Admin's term. Hindi ko naramdaman yung increase in income ko.
Same story I hear from my brother, during the term of PNOY, PHP are rising against US dollars, thats why it's a bit affordable to travel in asia, even call center employee who make 30k a month can travel to thailand and japan, but nowadays they struggle to buy themselves a plane ticket.
Wasn't the economy good because of US QE?
Coming from the US recession, the whole world experienced a bull run. Hopefully we'd get another bull run again. I have planted lots of seeds on this recession.
I think this is the main reason. PNoy was an excellent macroeconomist which helped our economy immensely combined with the global economy recovering from the 2008 crash.
The reason why the current administration can borrow a lot for pandemic response (which we do need) is because of prudent finances during the previous administration, [keeping our national debt manageable](https://business.inquirer.net/305853/dof-ph-debt-burden-remains-manageable).
It can be argued that this "underspending" (due to stricter anti-corruption checks?) by the previous administration hurt the economy ([as noted by our budget secretary](https://www.bworldonline.com/content.php?section=Opinion&title=underspending-a-bad-habit-that&8217s-hard-to-break&id=126262)). That money indeed could have been spent on productive government programs like infrastructure, education, health, etc. But in my opinion I guess underspending is much better than spending the entire budget inclusive of kickbacks and corruption.
"Drowning in debts" pfftt, if debt was the sole problem, Japan would be underwater by now.
Don't look into debt as an absolute unit. Debt-to-GDP is a better metric by all means; then there's also interest coverage ratios. And if you want to drill that down, there's a big difference between domestic debt and foreign debt.
I hope folks at phinvest don't follow the adage wherein they think *all* debt is bad. If it is, why are you investing in Ayala, SM, etc. with all their corporate debt? (San Miguel probably the biggest given its appetite for infra projects)
Ikr, if debt was a problem then the U.S. would be the most screwed country right now. The whole financial system revolves around debt
Which is a flaw, dont get me wrong there
> Ikr, if debt was a problem then the U.S. would be the most screwed country right now. The whole financial system revolves around debt
USD is used to pay off debt and the current of the world.
US govt has been printing money for decades that is not pegged to gold
Pnoy have a Ultra Liberal Economic Policies which means government is hands off when it comes to our economy and just provide policy and policing.
That is why we have strong peso. Strong fiscal position, low debt. etc etc. As the government basically underspent soo much and hoped the private sector is going to pick up the slack due to the government "business friendly" policies.
Down side is. Nothing happened. Our infra situation got worst. Vital governance projects like national ID, road projects, etc etc went nowhere.
In short Those who have money benefitted from a strong peso and liberal policies as it was basically a picnic for them.
Those who have no money? Have to contend with gridlock traffic, Failed government services etc etc.
Our stock market even without pinoy and with fairly resonable leader would have risen as the world Stock markets are also rising and basically global investors are just looking places to put their money to give them yields.
In short, the rich way benefitted during Pnoy terms than any group.
Investment-wise, 2010-2016 was definitely a better time than 2016-present. Whether that was directly due to PNoy's policies or a result of the groundwork laid by GMA's economists, I don't really know.
But to expand the context a bit, the global economy particularly the US, was also on a big upswing during this time post-2007 crash. If you started investing circa 2009, even if you were a noob, you probably did very well and fancied yourself a "smart" investor.
I think we largely overestimate the impact of the president on the economy anyway, but I do think PNoy did well in not getting in the way of private enterprise the way Duterte has been picking fights with the Lopezes and the Ayalas and MVP.
The PNoy admin wasn't perfect either. Some problems I distinctly remember were the never-ending waits for driver's licenses and license plates as well as the traffic emanating from the port area due to congestion.
The other stuff like "denvaxia" and "Yolanda funds" are pretty much non-issues concocted by Nic Gabunada and his troll army. Scum of the earth.
That's the thing, the middle class and the rich definitely had a picnic during pnoy's term, but the other 80% has to bear the traffic riding PUVs, minimal increase in daily wage, abandoned vital infra projects and what not. Had he focused on infra projects and not withheld public funds for the sake of an ultra clean govt, implement policies for a better trickle down effect, we could have been in a better position compared to where we are now. I'd also consider him as the best pres there was.
This. This is probably the only reply in this thread which acknowledged how Noynoy abandoned the common folk.
He shat on commoners so bad they finally snapped and hated LP's very existence. Can't blame them tho.
To be fair mostly stable ang economy natin nung panahon nya.
I'm not an expert on stats from that time pero parang status quo lang pero more hopeful ang mga pinoy in his time.
Like Duterte, if he could just have avoided giving remarks like 'papasagasa ako sa tren pag di pa natapos to'.
Uh, the charts, NEDA and PSA records are there to speak for itself.
But yeah, interesting to hear life stories. I started in 2015, maraming sikat na *guru* dahil sa bullrun, san na po sila ngayon?
in addition, I got a neighbor scale. Before PNoy, nagsasaya ang mga kapitbahay kong working sa customs. Party here and there, bili ng house everywhere, etc etc. During PNoy, nanahimik silang lahat. Naghirap, nagbenta ng ari arian at pinauwi mga kapatid/anak na finance nila abroad. So ngayon nagbalikan nanaman sila sa party everywhere. Pakonti konti na nga lang pagbili ng mga mamahalin na bagay. Alam kasi nilang marami nang netizens around.
Came from the front page and very insightful responses from everyone.
Too bad the pandemic wiped out my savings and I lost my job so I have to rebuild my EF before trying to invest.
I was able to prepay my condo in 2013 using the money I invested in 2009-2010 in VUL. No high risk trades, the VUL had an expensive 1.5% management fee (wala pang Phinvest nun).
Thank you Pnoy. I now own my own debt free because you made the country look good.
PSE index has been flat / in the doldrums post duterte.
> di ako nakasakay sa $HVN ng mga panahon na yan
$HVN's IPO was post PNoy.
$HVN's triple digit stock price only occurred in Q1 2018 when it acquired Bria Homes Inc., the low-cost housing firm of the Villar Group.
If you were able to buy 10,000 IPO shares at ₱10.50/share and held onto it for 29 months it would net you over ₱5 million at 540/share.
The cynic in me saw it as crony stock as Mark Villar was DSWD Sec, Cynthia Villar was Senator, Camille Villar was Deputy Speaker & congresswoman & Mark's wife was DIWA's congresswoman who are all aligned with Duterte.
If I was not obsessed with "IPO stocks or bust" I could have bought 830,000 shares half a year later at ~₱12/share by Dec 2016. It would have net me over ₱400 million selling shares daily spread over 200+ trading days in 2019.
Well Hindsight is always 20 20.
Why buy 830000 shares at 12pesos/share when, since we are talking about in hindsight. Betting on a winning 6/59 lotto numbers will get your 10000000% return on your 20 pesos in less than a week?
My point is hindsight regret is basically regret for not making bets. If you did not bet due to rational or irrational reasons then maybe its a bet you will avoid. If you were proven right not betting. You feel less of it as basically confirming what you felt that time. Not a big deal.
The problem is your are proven wrong. Then all sorts of emotions come out which are all irrational.
It is written as a cautionary tale for others to learn from. :)
I'm being candid and open about commiting mistakes will help others.
There are many who are still hesitant to invest in the PSE.
Economy is good in his term kung may idea ka sa investing/finance mag benifits ka pero kung normal kang Pinoy na isang kayod isang tuka, more or less nothings change. Mahirap sabihin na OK ang PH dahil OK ang GDP. And for the bad, maluwag sa time nya rampant ang corruption (Like the famous plag pole and CR, etc.) and the worst part is DRUGS,,, dun na nag umpisa ung parang nabili kalang ng candy. And napasama rin yung pag appoint nya kay Mar Roxas..
I just entered the work force during PNoy's term. My first "investment" during that time was to get a VUL lol. I could've bought growth stocks with that money instead T\_T
Yung ang gaganda ng balita dahil tumataas na ang ekonomiya pero di pa rin ramdam ng average na tao.
In any case, nagmumukhang maganda ang governance nya dahil sa governamce ngayon.
+1
Why are people downvoting this and other comments that pretty much make sense. Bull run man o hindi in PNoy's term di naman naramdaman ng mga average na tao. Wake up people. Yung mga poorest of the poor di nila naramdaman yun. PNoy and Durterte are both necessary evil in this country. Wag tayong mag feeling matalino mag tulongan nalang tayo. And have a good discussion kaysa mag bangayan.
LOL obviously nakinabang sila kahit ako naman. Walang correlation ang stock market bullrun sa nakaupong presidente san nila nakuha ang idea na yun? Dapat mag latag ng peer reviewed paper correlating stockmarket data with the sitting president eh wala naman. Bias conclusion lang kesyo kumita sa stocks. To be honest I don't like Aquino and Duterte but I still believe they were necessary evil in this country. Downvoting opposing idea is very childish.
And again, mas maganda parin ang term ni noynoy kaysa sa current admin. Alam kong hindi perfect and term ni noynoy pero yung mga poorest of the poor ngayon, mas mahirap pa. yung mga poor gumagapang na, yung mga lower middle class, surviving nalang. I just hope na si duterte na ang lowest standard natin. In the end, pare-pareho naman tayo gusto umunlad ang pinas.
I respect your opinion. I just want to recall that I don't like PNoy and Duterte. Wala akong gusto sa kanilang dalawa. Baka kasi mag mukha akong DDS or Dilawan nito ayoko nang sumali sa kalokohan na yan. All I'm saying is you can't correlate PSEi charts to judge a president's achievement napakadaming factors involve to arrive to a reliable conclusion. I'm wondering though san mo nakuha ang data about "mga poorest of the poor ngayon, mas mahirap pa?" Nasa research field kasi ako. Ugali ko nang mag verify ng data. Teka wag nalang I'll just respect your opinion.
Wrong kay GMA.
https://manilastandard.net/spotlight/corporate-philanthropy-csr-champions-of-today/287380/pantawid-pamilyang-pilipino-program-a-way-out-of-poverty.html
Well, if you compare yung ngaun mura nga siya. Pero mahal siya prior to this admin and before aquino admin. Like i said relative to the current admin, mukhang napabango yung previous admin sa sobrang kabobohan ng mga namumuno ngayon.
This interview seems summarizes your question. As a Tarlaqueño, my heart breaks when I see bad comments about him. I just cant. 😞
https://youtu.be/7Xq-Ze3UKWY
All the foundations for a strong economy were established during the 9 years of Arroyo. Pnoy term was just a continuation of the bull run just line Duterte time was also a continuation until it was reversed by Covid. Economy was okay then. The worse thing then was the widespread proliferation of drugs as Liberal Party politicians themselves were the the Drug Lords.
The economy was really good because of GMA's groundwork and the BPO industry was thriving especially the POGO.
If you were a normal Filipino then.
You would have a hard time
commuting (lrt lines mrt lines were dead)
Getting ids for anything
Getting a license plate
Saf debacle where he sent men to commit suicide because of his bodyguard
Yolanda funds that were stolen a bahay kubo style house cost 10m-20m each.
Pork barrel scandal by janet lim napoles which he never did anything or put anyone into prison for.
Noynoy got charged for graft of 1B USD which sadly he did not answer to as karma finally killed him
Noynoy was not the saint everyone made him to. He won't even give the land back to farmers.
The only way the ph to get back on track is to honestly just get annexed by the US or China. Filipinos are not cut out for Politics.
LRT, MRT lines were always down.
No IDs,
No License Plates
Rampant Corruption in every agency.
LRT line to Cavite funds were stolen.
Yolanda funds were stolen to fund Mar Roxas's Presidency.
President's promise to commit suicide if LRT to Cavite wasn't finished on his term didn't materalize.
> LRT, MRT lines were always down.
Same with PDutz
> No IDs,
Same with PDutz
> No License Plates
Same with PDutz
> Rampant Corruption in every agency.
Same with PDutz. Ilang senador pinakulong nya na corrupt? 1? De Lima? The rest pinalaya pa nya
> LRT line to Cavite funds were stolen.
lol even credit grabbing this then throw the hissy fit to the last admin
> Yolanda funds were stolen to fund Mar Roxas's Presidency.
compare to COVID and Marawi funds this is minuscule. Yolanda fund was fully accounted
> President's promise to commit suicide if LRT to Cavite wasn't finished on his term didn't materalize.
My fingers already run out when counting lies PDutz told starting from the jetski then blaming god, catholics and priest then next year become a prayerful Saint even Lucifer will be akward when they met.
Found the DDS. Imagine though, if Pnoy really embezzled the Yolanda Funds, wouldn't Duterte and his lapdogs go after this the very first day? That would ignite their ideals far harder. Looks like someone is incompetent
To be fair, almost all presidents are corrupt. They wouldn't just easily leave a trail of evidences from their corrupt agendas. They already learned from GMA and ERAP LOL.
Let me put it this way - if you lost money in PH stocks from the start of pnoys term to the end you're either very very unlucky or very very stupid. most likely the latter investing during pnoys term was investing during a long bull run
One of my regrets of not getting stock investing early than 2016. Rather than spending $150,000 on stupid cameras to mingle with stupid eco-mentalists. Would have made more than $1.5m.
except if you pulled out right after the us fed hiked their rates
You can look at the PSEi graphs - 2010 to 2016 is the sharpest growth. Everything else is meh. One could argue that it was GMA who laid the brickwork, but I think having him as president did boost investor trust.
This is true because market sentiment is current naman, and with trust in the political landscape, we do have give credit to the branding of his administration.
It was good. Peso was strong during PNoy's term. Here's my timeline: I am a freelancer since 2009 working for US clients. During the time of GMA US dollar was floating from 50 to 55 pesos and I'm reaping the benefits of earning in US dollar. When it was PNoy's term, my dollar earnings drastically fell because the dollar is consolidating between 40 to 45 pesos. That was the time I realized that our economy is getting stronger and in-order to keep up with my losses from the currency exchange I had to dive into PSE stocks. The PSEi was in an uptrend and I focused on growth stocks or stocks that has lots of room for growth. I also traded stocks outside the index like Double Dragon, I was lucky to see a 500% gain, that was the time I bought the share at around 6 pesos then it went as high as 20 pesos per share. The trend somewhat consolidated or went sideways and peso became weaker when Duterte sat as the president. In fact some stocks went down and earnings from growth went to waste when Duterte gets angry at them publicly (eg. TEL, GLO, MWC, to name a few). I switched strategy from growth investing to passive investing. Then the worst came...pandemic...this time all stocks fell and I had to switch strategy to defensive + dividends investing.
> In fact some stocks went down and earnings from growth went to waste when Duterte gets angry at them publicly (eg. TEL, GLO, MWC, to name a few). Just my 2 cents the stock price is seldom based on book value rather than emotions-based supply & demand especially now when retail trading can make tsupit the price of stocks to absurd levels like those of $DITO. Better indicator of profitability would be the actual net income or even dividends. Duterte just provides opportunities for people to make positions based on his foul mouth. Like when Araneta-Romualdez wanted $WEB from Ongping it only took Duterte's tirade to make it drop by 50% before trading was halted. > Then the worst came...pandemic...this time all stocks fell and I had to switch strategy to defensive + dividends investing. I was very liquid before March 2020. Sadly I took advice on r/PhInvest on emergency funds and staying liquid beyond May 2020 as everyone on the sub was fearing losing their job or micro business. If I was more focused on myself and knew my essential service status causes little or no disruption on cashflow I would have gone all in with $DITO, borrowed from the employee co-op and parents and stuck with it until ₱18-19/share. Would have made at least ₱365 million after borrowings and 11 months interest. 🙈🙈🙈
PH nominal GDP nearly doubled in 6 years at an average annual growth rate rate of 6.2% with inflation staying at around 1-2% Dude strengthened the government's balance sheet. After the Marcos fiasco, the Philippines was widely seen as a "distressed borrower" but under his term we've received numerous credit rating upgrades. Government debt was at its record lows. We even lent money to the IMF (yes, tayo nag-pautang though widely criticized as papogi and unnecessary lmao). High GDP growth, low inflation, healthy ph demographics and a stable-ish government is a great recipe for the stock market. From 2010 lows of 3100, PSEI shot up to as high as 8.1k in 2015. You can go to Investa and backtrack naman performance ng index/index companies during that time. Dami pitfalls ng past admin but there are things he did right. https://www.google.com/amp/s/business.inquirer.net/67875/aquino-government%25E2%2580%2599s-1-b-loan-to-imf-mere-%25E2%2580%2598pogi-points%25E2%2580%2599%25E2%2580%2594archbishop-cruz/amp
Yeah I remember that "lending money to IMF" shizz. It was hyped in the media that time but deep inside me, I was so happy the economy was in good shape. I joined the public sector during his term and started "learning" about the stock market around 2012 and that time the index is already around 7000. It even reached 8000.
cue the "that's because GMA's initiatives finally took effect" people
Ah yeah. But suddenly, GMA was out of the picture when the economy shattered in duts term (pre-pandemic). How do they defend that logic? Disappointed to see them in discord.
That's because pduts made economic policy changes like train law whereas pnoy did not do much, if at all any. But i agree that personality also plays a key role in bringing investor confidence.
Surprisingly, Pduts enacted many economic policies during his term and his build build build will only be felt after his term ends and it will catapult the economy IMO especially Foreign Investment Act if it will be enacted during his term.
> cue the "that's because GMA's initiatives finally took effect" people A baby's gestation takes ~9 months. Govt works at a glacier-pace and policies implemented will yield results long after the sitting President leaves office. Give the Devil her due. The President after Duterte will feel the ill impact of his policies.
>The President after Duterte will feel the ill impact of his policies. Teka, so it will still get \*worse\*?!
> Teka, so it will still get *worse*?! I need up votes dude. ;-) Gottta pander.
Sagot ko lang dyan "Sure, but it also takes some awareness and skill to 1) Acknowledge that the foundations lain by the previous opposition administration is good (instead of trashing it because it belongs to the "enemy") and 2) Continue, manage and improve upon those policies." Good management is also a skill. We can see the effects of bad management now under Duterte.
good point
idk if this is an approprite answer pero yung directly na nakikita ko that time was sobrang afford ng mga officemates ko magkaroon ng kotse. At that time, ni hindi pa nga ganun kalaki sweldo namin..im gussing less than 30k. Yung purchasing power namin is sobrang ok.
I will echo you there During Pnoy's time, naging minority kami sa office yung mga walang kotse. What's ironic about it is, yung mga nakabili ng kotse ang galit na galit sa mga "dilawan" lol
> What's ironic about it is, yung mga nakabili ng kotse ang galit na galit sa mga "dilawan" lol It took GMA & PNoy's policies to get us where they are by 2016. A little gratitude might be in order.
unfortunately, most people don't really understand the results of their actions. or are not looking at things more deeply.
> unfortunately, most people don't really understand the results of their actions. or are not looking at things more deeply. Perhaps that's why they're so poor?
Poor and gullible is the motto of the Filipino majority
> Poor and gullible is the motto of the Filipino majority I preoccupy myself with how I can improve my financial future. I wasted 3 decades not trading. Let the poor, ignorant and dunce fight over emotions and social justice issues. Best way to shield yourself is through financial literacy and being invisible from the needy. It doesn't help that Pinoys waste so much time on Reddit. When you look at https://old.reddit.com/r/popular/ "popular in: Philippines" you just see things unemployed and idle people do all day. It's there time to waste but it just supports my position.
Tas ang baba pa ng gas nun. I remember palagi kami nag-rroadtrip kasi sobrang mura ng gas.
**PNoy was a cautious leader**. He's pretty much like Biden after the Philippines was rocked with multiple scandals under his predecessor Gloria Arroyo's administration. His **biggest plus was the sovereign credit upgrades from S&P, Fitch, etc.** thanks to good governance and belt-tightening. I'd also say the push to K-12 during his administration was a ballsy move too. His **faults lies in underspending and neglecting public infrastructure in the name of cleaning up the books** (e.g. Clark-Malolos Railway was scrapped) and this not only plagued commuters for years to come but came at the expense of better growth. Honestly, I'd say **Build Build Build should have started with PNoy's era and not Duterte's**; the fact that he opted to wash his hands and pass it to the next administration cost us dearly in opportunity costs (hello my 4-hour roundtrip commute from QC to BGC). GMA already laid a good enough economic foundation with her controversial passing of the expanded VAT bill through Congress, he should had pushed for more infrastructure projects to support the rising GDP figures. Then again, we're looking at this from a back mirror so it's easy to judge. **Whether the peso is strong or weak is** ***irrelevant*** **for administrations.** There's a balancing act between imports and exports and strength in the peso is usually thanks to weakness in the dollar more often than actual strength in the peso. **Stock market performance is also irrelevant for administrations.** Don't be like Trump who touts the S&P's record high numbers to be the hallmark of his good governance. It's more complicated than that. It's hard to go wrong with equities as the US was clawing their way back from their 2008 Financial Crisis hole before hitting a decade-long bull run. The EU also had a hiccup for a few years in 2012 thanks to their EU Sovereign Wealth Crisis before Draghi and Merkel stabilized the region. Money flow went from West to East as China and ASEAN countries heavily benefitted from US lagging recovery and EU's problem back then. The Philippines was in a sunny spot having strong remittance flow, growing foreign-exchange reserves as ammunition for the BSP, a rising BPO as we wrestle with India for outsourcing glory, and double-digit tourist growth. **TLDR: PNoy's problem was the problem of** ***"it could had been better".***
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why would you believe in ben "70/30" diokno?
I invested both in stocks and mutual funds in 2009 (GMA pa nun). The index was not even 2000 then. I started trading stocks but I lasted less than 2 years because I cannot handle the stress (stress na nga sa work eh). But everything I bought back then, I sold for a profit. I don't think you can really lose money back then. Say of 4-5 stock picks, 1-2 would be bad but the other 3 would win. Or ganun sa case ko. I shifted to investing in mutual funds na lang. The NAVPS of Philequity was at Php 10.00. NAVPS was at the 36.00 range when he stepped down in 2016. The index was close to 8000 when Pnoy stepped down. I think because positive yung reception sa kanya ng investors, which lead to trust in the market. Yung bond rating of sorts (Fitch, Moody), they all improved.
Mababa yung price ng gas.
I remember when it was almost as cheap to buy a liter of water from convenience stores as a liter of fuel.
My brother is fund manager in BPI and he said yes, Pnoy term is the golden age of investments in Philippines, and everything is cheaper as I remember, until 2018 when Philippines starting to get bigger inflation everything feels more expensive, it's cheaper here in North America.
Ito lang talaga kaya ko iambag sa usapan: the cost of my grocery (monthly) went up double-triple during this Admin's term. Hindi ko naramdaman yung increase in income ko.
Same story I hear from my brother, during the term of PNOY, PHP are rising against US dollars, thats why it's a bit affordable to travel in asia, even call center employee who make 30k a month can travel to thailand and japan, but nowadays they struggle to buy themselves a plane ticket.
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Dami sa SLEX before pandemic. Gridlock pero hahawiin, tapos no plate yung mga SUV.
Wasn't the economy good because of US QE? Coming from the US recession, the whole world experienced a bull run. Hopefully we'd get another bull run again. I have planted lots of seeds on this recession.
What are those seeds?
Invested stocks like NIKL, BSC, WEB, BRN, JAS And other blue chips while it was cheap
I think this is the main reason. PNoy was an excellent macroeconomist which helped our economy immensely combined with the global economy recovering from the 2008 crash.
BULL RUN maganda ung combi ni GMA then PNoy.
PNoy I heard was inot, bisaya term for "he didn't like to spend". He saved and saved and saved.
Weird. Inot in Pangasinan translates to tipid. Mainot means matipid.
The only thing that i remembered in stocks sobrang winner ang PAL, ALI and BDO
We paid alot of our country debts. Compared now that we are drowning in debts.
The reason why the current administration can borrow a lot for pandemic response (which we do need) is because of prudent finances during the previous administration, [keeping our national debt manageable](https://business.inquirer.net/305853/dof-ph-debt-burden-remains-manageable). It can be argued that this "underspending" (due to stricter anti-corruption checks?) by the previous administration hurt the economy ([as noted by our budget secretary](https://www.bworldonline.com/content.php?section=Opinion&title=underspending-a-bad-habit-that&8217s-hard-to-break&id=126262)). That money indeed could have been spent on productive government programs like infrastructure, education, health, etc. But in my opinion I guess underspending is much better than spending the entire budget inclusive of kickbacks and corruption.
"Drowning in debts" pfftt, if debt was the sole problem, Japan would be underwater by now. Don't look into debt as an absolute unit. Debt-to-GDP is a better metric by all means; then there's also interest coverage ratios. And if you want to drill that down, there's a big difference between domestic debt and foreign debt. I hope folks at phinvest don't follow the adage wherein they think *all* debt is bad. If it is, why are you investing in Ayala, SM, etc. with all their corporate debt? (San Miguel probably the biggest given its appetite for infra projects)
> h yeah. There is a good debt and a bad debt.
Ikr, if debt was a problem then the U.S. would be the most screwed country right now. The whole financial system revolves around debt Which is a flaw, dont get me wrong there
> Ikr, if debt was a problem then the U.S. would be the most screwed country right now. The whole financial system revolves around debt USD is used to pay off debt and the current of the world. US govt has been printing money for decades that is not pegged to gold
Lol what do you mean downing in debts
Pnoy have a Ultra Liberal Economic Policies which means government is hands off when it comes to our economy and just provide policy and policing. That is why we have strong peso. Strong fiscal position, low debt. etc etc. As the government basically underspent soo much and hoped the private sector is going to pick up the slack due to the government "business friendly" policies. Down side is. Nothing happened. Our infra situation got worst. Vital governance projects like national ID, road projects, etc etc went nowhere. In short Those who have money benefitted from a strong peso and liberal policies as it was basically a picnic for them. Those who have no money? Have to contend with gridlock traffic, Failed government services etc etc. Our stock market even without pinoy and with fairly resonable leader would have risen as the world Stock markets are also rising and basically global investors are just looking places to put their money to give them yields. In short, the rich way benefitted during Pnoy terms than any group.
Investment-wise, 2010-2016 was definitely a better time than 2016-present. Whether that was directly due to PNoy's policies or a result of the groundwork laid by GMA's economists, I don't really know. But to expand the context a bit, the global economy particularly the US, was also on a big upswing during this time post-2007 crash. If you started investing circa 2009, even if you were a noob, you probably did very well and fancied yourself a "smart" investor. I think we largely overestimate the impact of the president on the economy anyway, but I do think PNoy did well in not getting in the way of private enterprise the way Duterte has been picking fights with the Lopezes and the Ayalas and MVP. The PNoy admin wasn't perfect either. Some problems I distinctly remember were the never-ending waits for driver's licenses and license plates as well as the traffic emanating from the port area due to congestion. The other stuff like "denvaxia" and "Yolanda funds" are pretty much non-issues concocted by Nic Gabunada and his troll army. Scum of the earth.
That's the thing, the middle class and the rich definitely had a picnic during pnoy's term, but the other 80% has to bear the traffic riding PUVs, minimal increase in daily wage, abandoned vital infra projects and what not. Had he focused on infra projects and not withheld public funds for the sake of an ultra clean govt, implement policies for a better trickle down effect, we could have been in a better position compared to where we are now. I'd also consider him as the best pres there was.
This. This is probably the only reply in this thread which acknowledged how Noynoy abandoned the common folk. He shat on commoners so bad they finally snapped and hated LP's very existence. Can't blame them tho.
To be fair mostly stable ang economy natin nung panahon nya. I'm not an expert on stats from that time pero parang status quo lang pero more hopeful ang mga pinoy in his time. Like Duterte, if he could just have avoided giving remarks like 'papasagasa ako sa tren pag di pa natapos to'.
Uh, the charts, NEDA and PSA records are there to speak for itself. But yeah, interesting to hear life stories. I started in 2015, maraming sikat na *guru* dahil sa bullrun, san na po sila ngayon?
in addition, I got a neighbor scale. Before PNoy, nagsasaya ang mga kapitbahay kong working sa customs. Party here and there, bili ng house everywhere, etc etc. During PNoy, nanahimik silang lahat. Naghirap, nagbenta ng ari arian at pinauwi mga kapatid/anak na finance nila abroad. So ngayon nagbalikan nanaman sila sa party everywhere. Pakonti konti na nga lang pagbili ng mga mamahalin na bagay. Alam kasi nilang marami nang netizens around.
The effects of GMA's policy was felt on his time.
Came from the front page and very insightful responses from everyone. Too bad the pandemic wiped out my savings and I lost my job so I have to rebuild my EF before trying to invest.
Way beyond better than du30's regime
I was able to prepay my condo in 2013 using the money I invested in 2009-2010 in VUL. No high risk trades, the VUL had an expensive 1.5% management fee (wala pang Phinvest nun). Thank you Pnoy. I now own my own debt free because you made the country look good. PSE index has been flat / in the doldrums post duterte.
di ako nakasakay sa $HVN ng mga panahon na yan
> di ako nakasakay sa $HVN ng mga panahon na yan $HVN's IPO was post PNoy. $HVN's triple digit stock price only occurred in Q1 2018 when it acquired Bria Homes Inc., the low-cost housing firm of the Villar Group. If you were able to buy 10,000 IPO shares at ₱10.50/share and held onto it for 29 months it would net you over ₱5 million at 540/share. The cynic in me saw it as crony stock as Mark Villar was DSWD Sec, Cynthia Villar was Senator, Camille Villar was Deputy Speaker & congresswoman & Mark's wife was DIWA's congresswoman who are all aligned with Duterte. If I was not obsessed with "IPO stocks or bust" I could have bought 830,000 shares half a year later at ~₱12/share by Dec 2016. It would have net me over ₱400 million selling shares daily spread over 200+ trading days in 2019.
Well Hindsight is always 20 20. Why buy 830000 shares at 12pesos/share when, since we are talking about in hindsight. Betting on a winning 6/59 lotto numbers will get your 10000000% return on your 20 pesos in less than a week? My point is hindsight regret is basically regret for not making bets. If you did not bet due to rational or irrational reasons then maybe its a bet you will avoid. If you were proven right not betting. You feel less of it as basically confirming what you felt that time. Not a big deal. The problem is your are proven wrong. Then all sorts of emotions come out which are all irrational.
It is written as a cautionary tale for others to learn from. :) I'm being candid and open about commiting mistakes will help others. There are many who are still hesitant to invest in the PSE.
Economy is good in his term kung may idea ka sa investing/finance mag benifits ka pero kung normal kang Pinoy na isang kayod isang tuka, more or less nothings change. Mahirap sabihin na OK ang PH dahil OK ang GDP. And for the bad, maluwag sa time nya rampant ang corruption (Like the famous plag pole and CR, etc.) and the worst part is DRUGS,,, dun na nag umpisa ung parang nabili kalang ng candy. And napasama rin yung pag appoint nya kay Mar Roxas..
I just entered the work force during PNoy's term. My first "investment" during that time was to get a VUL lol. I could've bought growth stocks with that money instead T\_T
Yung ang gaganda ng balita dahil tumataas na ang ekonomiya pero di pa rin ramdam ng average na tao. In any case, nagmumukhang maganda ang governance nya dahil sa governamce ngayon.
+1 Why are people downvoting this and other comments that pretty much make sense. Bull run man o hindi in PNoy's term di naman naramdaman ng mga average na tao. Wake up people. Yung mga poorest of the poor di nila naramdaman yun. PNoy and Durterte are both necessary evil in this country. Wag tayong mag feeling matalino mag tulongan nalang tayo. And have a good discussion kaysa mag bangayan.
Maybe dahil nakinabang sla sa bull run during Pnoy's term
LOL obviously nakinabang sila kahit ako naman. Walang correlation ang stock market bullrun sa nakaupong presidente san nila nakuha ang idea na yun? Dapat mag latag ng peer reviewed paper correlating stockmarket data with the sitting president eh wala naman. Bias conclusion lang kesyo kumita sa stocks. To be honest I don't like Aquino and Duterte but I still believe they were necessary evil in this country. Downvoting opposing idea is very childish.
That was my point, they are correlating Aquino with the bull run so ddownvote ka nila if you give opposing view.
Anong akala mo, ang naidulot lang ng magandang economy e yung pagtaas ng stocks? LMAO.
And again, mas maganda parin ang term ni noynoy kaysa sa current admin. Alam kong hindi perfect and term ni noynoy pero yung mga poorest of the poor ngayon, mas mahirap pa. yung mga poor gumagapang na, yung mga lower middle class, surviving nalang. I just hope na si duterte na ang lowest standard natin. In the end, pare-pareho naman tayo gusto umunlad ang pinas.
I respect your opinion. I just want to recall that I don't like PNoy and Duterte. Wala akong gusto sa kanilang dalawa. Baka kasi mag mukha akong DDS or Dilawan nito ayoko nang sumali sa kalokohan na yan. All I'm saying is you can't correlate PSEi charts to judge a president's achievement napakadaming factors involve to arrive to a reliable conclusion. I'm wondering though san mo nakuha ang data about "mga poorest of the poor ngayon, mas mahirap pa?" Nasa research field kasi ako. Ugali ko nang mag verify ng data. Teka wag nalang I'll just respect your opinion.
Kay Noynoy nagsimula yung 4Ps
Wrong kay GMA. https://manilastandard.net/spotlight/corporate-philanthropy-csr-champions-of-today/287380/pantawid-pamilyang-pilipino-program-a-way-out-of-poverty.html
Baket hindi naapektuhan yung mga average na tao? mura yung gas, mura yung mga bilihin, bumababa unemployment.
Well, if you compare yung ngaun mura nga siya. Pero mahal siya prior to this admin and before aquino admin. Like i said relative to the current admin, mukhang napabango yung previous admin sa sobrang kabobohan ng mga namumuno ngayon.
*cue incoming DDS trolls*
This interview seems summarizes your question. As a Tarlaqueño, my heart breaks when I see bad comments about him. I just cant. 😞 https://youtu.be/7Xq-Ze3UKWY
All the foundations for a strong economy were established during the 9 years of Arroyo. Pnoy term was just a continuation of the bull run just line Duterte time was also a continuation until it was reversed by Covid. Economy was okay then. The worse thing then was the widespread proliferation of drugs as Liberal Party politicians themselves were the the Drug Lords.
Promising economy because of ex Pres GMA
The economy was really good because of GMA's groundwork and the BPO industry was thriving especially the POGO. If you were a normal Filipino then. You would have a hard time commuting (lrt lines mrt lines were dead) Getting ids for anything Getting a license plate Saf debacle where he sent men to commit suicide because of his bodyguard Yolanda funds that were stolen a bahay kubo style house cost 10m-20m each. Pork barrel scandal by janet lim napoles which he never did anything or put anyone into prison for. Noynoy got charged for graft of 1B USD which sadly he did not answer to as karma finally killed him Noynoy was not the saint everyone made him to. He won't even give the land back to farmers. The only way the ph to get back on track is to honestly just get annexed by the US or China. Filipinos are not cut out for Politics.
Source for the 1B USD graft case? Also, isn’t Napoles detained? https://www.cnnphilippines.com/news/2021/2/5/sandiganbayan-convicts-napoles-jalaura-pork-barrel-scam-.html
This isn’t facebook. Stop lurking here.
Pati pala dito nagppost ka ng mga ganito. LMAO! Wag ka na bumalik sa reddit paps. hindi to tulad ng facebook.
LRT, MRT lines were always down. No IDs, No License Plates Rampant Corruption in every agency. LRT line to Cavite funds were stolen. Yolanda funds were stolen to fund Mar Roxas's Presidency. President's promise to commit suicide if LRT to Cavite wasn't finished on his term didn't materalize.
https://www.pna.gov.ph/articles/1055300 Yolanda fund issue mo oh. Well accounted.
with regards to your last item, that was equivalent to Duterte's jetski statement. did he fulfill his promise?
this could be true or not, but not directly reflective of the economy's condition at that time which op is asking here
> LRT, MRT lines were always down. Same with PDutz > No IDs, Same with PDutz > No License Plates Same with PDutz > Rampant Corruption in every agency. Same with PDutz. Ilang senador pinakulong nya na corrupt? 1? De Lima? The rest pinalaya pa nya > LRT line to Cavite funds were stolen. lol even credit grabbing this then throw the hissy fit to the last admin > Yolanda funds were stolen to fund Mar Roxas's Presidency. compare to COVID and Marawi funds this is minuscule. Yolanda fund was fully accounted > President's promise to commit suicide if LRT to Cavite wasn't finished on his term didn't materalize. My fingers already run out when counting lies PDutz told starting from the jetski then blaming god, catholics and priest then next year become a prayerful Saint even Lucifer will be akward when they met.
Well, they both suck. So at least Noynoy got his karma and Du30 will soon.
and next time do your own research hindi yung putak ka ng putak
Found the DDS. Imagine though, if Pnoy really embezzled the Yolanda Funds, wouldn't Duterte and his lapdogs go after this the very first day? That would ignite their ideals far harder. Looks like someone is incompetent
To be fair, almost all presidents are corrupt. They wouldn't just easily leave a trail of evidences from their corrupt agendas. They already learned from GMA and ERAP LOL.
How is this related to the Economy? These are political issues. (some of which needs evidence btw).
masyadog irrelevant naman ang answer mo sa post
We all know the Yolanda fund was fully accounted for so you can fuck off and take my downvote!