Prominent Indonesian investor, Lo Kheng Hong, revealed a common habit among Indonesians that, in his view, does not lead to wealth creation.

In his statement, he argued that saving or keeping money in the bank actually causes people to slowly become poor. This perspective clearly differs from what most Indonesians believe.

“Putting money in the bank actually makes us poorer over time because the value of money keeps declining day by day,” said Lo Kheng Hong on Monday (August 18, 2025).

Apart from saving without investing, Lo also stressed that buying bonds or debt securities is not his choice in managing wealth, as the interest earned from such instruments is relatively small.

“I also don’t buy gold,” Lo Kheng Hong added.

He emphasized that the only instrument he truly finds attractive is stocks, which have proven to make him wealthy, with assets worth hundreds of billions of rupiah. One of his biggest wins came from shares of PT United Tractors Tbk (UNTR), marking the starting point of his massive success in stock investing.

Lo explained the main reason why he chose to invest in the stock market, particularly in Indonesia. “The Indonesian stock exchange offers the highest returns among the world’s major stock markets for long-term investors. It’s been proven! I’m grateful to be part of it,” he stated.

However, according to Lo, nearly 99% of Indonesians still don’t believe that stocks are the best investment option. Most people prefer to put their money in banks or buy property rather than investing in stocks.

He is known as a very meticulous person, often spending hours analyzing financial reports. This shows his highly selective approach in choosing stocks for investment.

In 1998, Lo bought shares of PT United Tractors Tbk (UNTR). At the time, the company’s net profit was negative Rp1 trillion. However, its revenue stood at around Rp2–4 trillion, with an operating profit of about Rp1 trillion. Lo assessed that the net loss was purely due to currency exchange rates.

That moment marked the beginning of Lo Kheng Hong’s success as a stock investor, a story that he later repeated with other stocks.