Ralph Woodcock is a Partner with St. James’s Place and based in Shenzhen, China. Ralph is an ACIS member of the Chartered Institute for Securities & Investment (CISI) and has worked in the offshore financial services industry for over five years. He is very passionate about delivering tailored and holistic solutions to his clients and committed to building long-term relationships by providing a source of trusted advice dependent on their financial needs. Because of this, Ralph is also an active member of the expatriate community in China. Ralph’s focus is on ensuring his clients receive the best help possible providing expertise with the design and implementation of customized investment solutions. These goals can vary from wealth management, retirement planning, education planning or specialized insurance needs. Ralph believes that investing doesn’t need to be complicated and it’s up to St. James’s Place to make it simple and transparent.
Outside of work Ralph likes to spend time with his family and explore the historical landmarks throughout China and visit their many hidden treasures. Originally from England, Ralph also enjoys following the Premier League and Formula 1 Racing.
In this episode, Ralph shares his bitcoin investment story, the due diligence challenges involved in his venture, his sentiments about his losses, the preventive measures he should have made and the lessons he learned from the experience. Catch this very relevant story and determine why you should not follow the crowd into the bitcoin disaster.
“Make sure we understand the assets we're investing in and how something that looks so good can fall over. And then, we regret that.”
– Ralph Woodcock
What do you want to hear from the My Worst Investment Ever Podcast?
Resources:
Topics Covered:
03:07 – Ralph recalls how his bitcoin investment in 2007
04:44 – Cryptocurrencies and ICOs: challenges in its the due diligence
05:51 – Ralph’s sentiments in his losses, the preventive measures he should have made
07:07 – The lessons our guest learned from this investment
08:03 – Andrew sums up his takeaways
10:45 – One great advice from Ralph: “Just sit down with a professional, whatever you want to say, whether you agree with them.”
Main Takeaways:
Lesson 1: “In the case of cryptocurrencies, it's tough to do their research because there's very little to grab onto and you could.”– Andrew Stotz
Lesson 2: “The lesson I learned from it is not to pick my asset class.”–...