Me & My Money Series (Sunday Times)

my comments:
1) if he really cares about safer cleaner environment, he should not have owned that lexus.

2) yup i agree that trading on sgx is expensive as minimum lot size is usually 1000 shares. anyone wonders why SGX doesn't want to allow 1 or 100 shares trading?

3) I dun really understand about his quote - "Knowing what is enough does take a lot of courage and it took me a while to figure that out.", anyone cares to share more?

4) "Lower interest is better than evaporation.I suggest you try to put some under your bed - sleep on it and you can say hello to the money in the morning and feel good about it." - this is very deep meaning i think

who the founder of Envizyme? is this a new-start-up?

(16-12-2012, 09:12 AM)Musicwhiz Wrote: I found it rather humourous that he was asking his broker for detailed information on the companies, and was told that no one asked these things. Well, Mr. Kee, the reality is that there's a whole forum of people here talking about companies - you just happened to ask the wrong person!

On a serious note, I am quite surprised he lost a total of $500,000, on the Lehman Brothers products and on Forex. Incidentally, both were recommended by the bank! Tells you a lot about what banks understand about risk and "good investments" eh?

My short answer for his failure, is he got advice from people who have conflict of interests.

I am sure that banks understand about risk and good investment. I am also sure it is not to their interest to give recommendation on safe product due to low commission.

Same for brokers. Brokers spend their waking hours on stock market. To account their poor advice as ignorant is not appropriate, i will account it to conflict of interests.

Quote:3) I dun really understand about his quote - "Knowing what is enough does take a lot of courage and it took me a while to figure that out.", anyone cares to share more?

My own experience. It is surely not the same because everyone has his own enough situation. But it really needs courage for no one can be sure of having enough in the future by not working.

My experience:-
At the age of 53 i were jobless. Our only son was still schooling. My wife was still working. WE were and still is "debt free". At that time i were a bit depressed of being jobless. As almost all of us being jobless is as good as being a non-identity - a being non-producer - maybe a bum some people may think of you. i looked at my family's financial situation and knew then with my wife's take home pay and my years of investing returns and debt-free situation and always living within our means, i could afford to pluck up my courage of "retirement at this age".
i can tell you until today, friends, relatives and acquaintances cannot really understand why i retired at age 53. They must be wondering how i manage to pass the time of the day until now?
Actually i have not retired but found one of my calling investing in SGX. That's the secret of i can manage to "retire" at 53.
And everyone thought i am depending on my wife to bring the bacon home. It maybe true in a sense. Only my wife knows how many times more valuable i make the bacon she used to bring home by investing for her.
Does it really matters what others think of me before and now? It may matters. But what my wife thinks is the most important. And my wife doesn't really divulge our private life to anybody. Not even very closed relatives. Until now they may think how we manage to have a life.To tell the truth i am always the "odd one out" in group, whether i like it or not.
So do you think i give a hoots to what people think of me? If i did, i will be still be working for someone for my supper.
It really needs courage to think you have enough for no one can tell the future.

NB: Sorry for this long-winded story taking up your time.
Shalom.

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(16-12-2012, 11:11 AM)pianist Wrote: my comments:

4) "Lower interest is better than evaporation.I suggest you try to put some under your bed - sleep on it and you can say hello to the money in the morning and feel good about it." - this is very deep meaning i think

who the founder of Envizyme? is this a new-start-up?

4) imo, is this below:-

“The Essence of Investment Management is the Management of Risks, not the Management of returns”, Benjamin Graham.

“Therefore Proper Allocation of Assets and Entry Level are the 2 most crucial actions.
Nothing you can do is better to Control Risks and Generate profit,” Dick Davis.

t thanks for the invaluable sharing. i think this is something we can learn from.

(16-12-2012, 03:08 PM)pianist Wrote: t thanks for the invaluable sharing. i think this is something we can learn from.

Sure or not? Me old-man can be very long winded.
Thanks to you too liking my long winded sharing.
Joking only!
Shalom.

Retire at 53 seems not too young though is earlier than a lot of people can or willing. Is up to one self. Maybe you can open up to them and say you have setup an investment fund

(16-12-2012, 03:17 PM)corydorus Wrote: Retire at 53 seems not too young though is earlier than a lot of people can or willing. Is up to one self. Maybe you can open up to them and say you have setup an investment fund

Oh dear! No ! No!
I found managing my own money is already "no joke". No, please, nobody would respect or believe an "ITE" educated investor. i am definitely far, very far away from a qualified fund investment professional. Besides i am not willing to risk another person's money except my wife. i do only hint a little to close relatives but it's too little to be of any use. My apology for giving you the wrong idea.
And Simon says, "It's against the law".
Shalom.

Quote : ".....Initially, I asked my stockbroker many questions about the counter I was keen to buy, until one day he told me that no one in Singapore asked those kinds of questions......"

To do his business, his stockbroker has to read up a lot.
My stockbroker had it better. I do my own research and enter the trades via internet. My stockbroker just pocket the commissions.

(16-12-2012, 03:45 PM)wsreader Wrote: Quote : ".....Initially, I asked my stockbroker many questions about the counter I was keen to buy, until one day he told me that no one in Singapore asked those kinds of questions......"

To do his business, his stockbroker has to read up a lot.
My stockbroker had it better. I do my own research and enter the trades via internet. My stockbroker just pocket the commissions.

My Remisier was much worse - I did the research, told him the company I wanted to purchase (MTQ in this case), and he asked me: "is there such a company listed on SGX?" I really felt like fainting!

Remisier-assisted trades incur higher commissions, although from your remisier's response, I am not sure there was any "assistance" rendered