Analyst fired for saying greed is bad in south korea

 

Han Sang-choon, deputy head of Mirae Asset Investment Education Institute, said investors ignored warnings over the past few months that trouble lay ahead for stocks and held on to funds thinking a big pay day was just around the corner.

"I reckon people haven't cashed in their funds because of personal greed and expectations (of profits)," he told an investor, according to quotes from the Friday TV show that appeared widely in South Korean media.

Even though Seoul shares ended down 2.73 percent on Friday for their lowest close since late October 2005, brokerage Mirae Asset did not like the investment advice.