The Life: Amer Bin Breik, 20, dedicates a Website and YouTube channel to sharing technical analysis about stocks in the UAE. He discusses where he hopes to take his venture.
Technical skill helps idea become reality
Amer bin Breik, 20, uses a channel on YouTube, and his website investUAEmoney.com, to share technical analysis about stocks. Here, Mr Breik, a finance student at the American University of Sharjah and an aspiring fund manager, discusses his venture.
What started your passion for investing?
I was 13 years old. There were a lot of investors looking to invest in Dana Gas. I did some research; they had explorations in Egypt. I told my father we should invest. I gave him all the money I had - about Dh200. They had their [initial public offering] at that time. I gained 500 per cent. That was my first investment.
Where did your interest take you from there?
I was 16 when I got back into the stock market. I started analysing. When analysts saw a kid like me trying to learn this stuff they would just shut me out. "Just stick to games." That made me a little aggressive; "I'll learn it myself." Once I was 18, 19, this idea came to me: I could make videos [for stock] analysis. Obviously nothing's 100 per cent profitable. I don't have much money in my account, but I know some people who have US$200,000 (Dh734,63) to $2 million; they want to invest. If they learn, they can profit.
You now distribute a stock-analysis software, are sponsored by news agency Thompson Reuters and have just became an affiliate for a foreign currency trading firm. How did that latest deal happen?
They were looking at YouTube for technical analysis and [my videos] came up. They say there's a lot of potential in the UAE and Middle East. They contacted me and said we're going to give you the [trading] platform. Just direct investors to us; if they want to open an account they'll get a good discount and you'll get a portion of that.
What is your ultimate aim with investUAEmoney?
I want to charge people subscriptions. This advice obviously gives them a lot of money. I get a lot of investors emailing me ... "We want to educate ourselves." [One investor said,] "I'll give you the money and you manage it for me." [The offer] worried me because I told him it's not official. We're not doing it through pen and paper. I'm going to do it, one day, but through where you come into my office so if things go wrong we can go to court and settle this. But one-on-one like that is too casual.
How has your portfolio performed?
Maybe 10 or 15 per cent profit, here [on UAE bourses]. My father gave me about $5,000, and I doubled my money in the US. But then I didn't close my position. I got greedy ... and it crashed down. It did teach me a lesson, and I'm happy I learned it the hard way because if I didn't learn it with $1,000 I will learn it later in my life with $10,000 - and then I would lose that client.