Outperforming the majority

In 1996, Dr Tan Chong Koay loaded up 25 per cent of his portfolio with small stocks traded on Malaysia’s notoriously volatile Second Board. The Kuala Lumpur Second Board Index had more than doubled when Dr Tan sold most of those holdings in March 1997, four months before Thailand devalued the baht, sparking the Asian currency turmoil. The move earned Dr Tan a reputation as the “King of the Second Board”.