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I bought S&P shares (VFV & XSP) 5 years ago, they both went up. 60% for VFV and 49% for XSP in that time frame. I'm definitely not a stocks kind of guy, but a lot of research went into picking my portfolio. These elder Asians don't do their DD and just go by what their "friends" say. My uncle in HK lost millions on the HKSE, and it scared the majority of my family. He recovered afterward but still my Aunts and uncles still talk about it these day. There's a reason why Asians love RE, they always feel it's the safest return.
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