Joenil Cofreros knows what it feels like to lose big on an investment—and come out wiser.
Cofreros entered the world of crypto investing with hope and high expectations, just like many investors during the early boom years. But one misstep cost him dearly. “I exited bitcoin at a 70% loss,” he recalls in an interview with Financial Adviser PH. The plunge came in the wake of China’s crackdown on cryptocurrency, which sent prices tumbling. But for Cofreros, it wasn’t just bad timing—it was a lesson in strategy.
The painful exit that changed his investing mindset
Cofreros, who has helped numerous clients plan their financial futures, admits he didn’t fully understand the asset before diving in. “I guess I just didn’t time it well,” he says. More importantly, he realized he didn’t have a strong enough grasp of the asset class in the first place. That moment became a turning point.
“Only get into things that you fully and truly understand,” Cofreros now advises, a simple but powerful rule that guides his investing approach today.
Why understanding beats hype in investing
The bitcoin loss wasn’t Cofreros’ only bumpy investment ride. A real estate investment also yielded disappointing returns due to poor property management. “I just did a breakeven from it,” he says. Add to that stock investments that have yet to recover from pandemic-era market declines, and it’s clear that even financial professionals aren’t immune to market turbulence.
But Cofreros’ key takeaway? Emotional detachment and rational decision-making always outperform hype and FOMO.
Diversification is more than just a buzzword
These days, Cofreros sticks to one golden rule: don’t put all your eggs in one basket. “Now I follow that principle of diversification,” he shares. Whether it’s crypto, real estate, or equities, he spreads his investments to cushion risk and stabilize returns.
It’s a mindset shift that many young investors still need to internalize, especially as social media trends push riskier, one-size-fits-all strategies. “If you want financial freedom,” he says, “you need to build a portfolio that balances risk and long-term stability.”
Investing with purpose, not pressure
Cofreros’ financial goals are now aligned with freedom, not just returns. “My goal is to have complete freedom to do what I want—because I’m passionate about it, not because I need to,” he says. This purpose-driven approach influences how he advises clients: focus on meaningful goals, not flashy wins.
How the RFP program changed his approach
Eight years ago, Cofreros joined the Registered Financial Planner (RFP) program to gain a deeper understanding of how financial professionals think and act. At the time, he was working in his first insurance company, leading transformation projects. “I wanted to get into the headspace of the agents I was working with,” he recalls.
The RFP training didn’t just shape his approach to helping others—it changed his own habits. He learned to evaluate investments more critically and prioritize foundational concepts like estate planning, budgeting, and risk management.
“Estate planning really resonated with me,” he says. “It’s something we all have to keep in mind if we have aspirations to be affluent.”
The quiet power of value-based investing
Unlike some who chase the cheapest deals, Cofreros defines value by utility over price. “Expensive stuff better deliver high utility,” he explains. “Value equals utility over price.”
That philosophy spills into everything from budgeting to investing. He isn’t a meticulous budgeter, but his ability to evaluate value keeps his spending in check. “I’m naturally programmed to assess if something is worth the money.”
Final takeaway: Learn, diversify, and never stop questioning
Cofreros’ story is a reminder that even financial planners make mistakes—but the key is to learn fast and recover smarter.
“You don’t have to avoid risk altogether,” he says. “You just need to know why you’re taking it.”
His advice for everyday investors: Stick to what you understand, diversify your holdings, and focus on freedom over flashy gains.
