tag:blogger.com,1999:blog-74173664061696370062024-03-05T12:51:21.010+08:00A Malaysian Turtle Investing Diary...By Amateur for Amateur(This is not Turtle Trader or Trend Following blog.
All stock and strategy mentioned in this blog do not represent buy or sell. This is my digital diary to express my thoughts and opinions about the world of investing. Ultimately, you will be responsible for your own decision. Please consult your investment adviser before taking any investment position).Unknownnoreply@blogger.comBlogger1119125tag:blogger.com,1999:blog-7417366406169637006.post-896236255532373832016-10-09T12:36:00.003+08:002016-10-09T14:23:39.609+08:00I am alive but still in hibernationAt first I thought I will only start to update my blog when the bear market is here. The logic was to save myself from the anguish of being screw by people for publishing bearish views. During this period of inactivity I spend a lot of time exercising. Yea, I have not dived into swimming pool for a long time and now I am doing that a lot. Whenever I feel like it, I will sink myself in a sofa watching movies or drama. Doing light reading here and there on investment/non-investment related stuffs. At times going to my favorite hawker stalls all over the place. Being able to stay away from financial markets was really great.<br />
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Anyway, today I want to share with you on a financial topic.<br />
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Recently I came across frustrated shareholder comments in the websphere regarding iCapital. The price started to surge after the AGM...perhaps after the "education" session, many feel compel to buy as a "long term" investment again. Will it last or it's a trap?<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQweBmF0XKZisIVTMzi0X6wkOCtHnFHYD8uabV8MyLQ_dwqcgYlXe9JkoFBQEsid1TvduZjiAi8VLrKtPmLS866ef-0q9g3oaLv43CKN6r7mKxENUhyRmAuewBSEKpMDkW9vI12AH_oGs/s1600/iCapital.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="324" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQweBmF0XKZisIVTMzi0X6wkOCtHnFHYD8uabV8MyLQ_dwqcgYlXe9JkoFBQEsid1TvduZjiAi8VLrKtPmLS866ef-0q9g3oaLv43CKN6r7mKxENUhyRmAuewBSEKpMDkW9vI12AH_oGs/s640/iCapital.JPG" width="640" /></a></div>
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There are several investment thoughts out there:<br />
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1. iCapital is full of cash now. A market crash will be handy to deploy cash.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhc1c6VMnVrpCWSHYtQs95dmnBhWkxIGU3_c1WSu_wwnyrj4sTYZKv2XWAdFq5gXnRS3k5N0p2W83D0PUSJjTbwHXjUvIp1db9ei4FKUUQ78LUPLsoUuiwPmI_69kS3qL2ELQ4M2PaAoA8/s1600/icapital_cash.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="448" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhc1c6VMnVrpCWSHYtQs95dmnBhWkxIGU3_c1WSu_wwnyrj4sTYZKv2XWAdFq5gXnRS3k5N0p2W83D0PUSJjTbwHXjUvIp1db9ei4FKUUQ78LUPLsoUuiwPmI_69kS3qL2ELQ4M2PaAoA8/s640/icapital_cash.JPG" width="640" /></a></div>
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When I plotted iCapital Cash as % of NAV vs KLCI, I can see the fund manager has 2 different of thoughts at 2 different cycles. Pre-financial crisis and Post-financial crisis.<br />
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Let's look at the pre-financial crisis. You can see KLCI continued to surge and iCapital cash level continued to dwindle in the same direction to the lowest of slightly above 10%. Post financial crisis, as KLCI zoomed ahead and iCapital cash level continued to rise and reached the high level of almost 70% by keep selling their holdings. The fund manager might get angry that if I said that he did not foresee the severity of the last financial crisis and whether next market crisis is a shallow or a very catastrophic one will remain unknown.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjq_iX8rzlBCt57_wVZll4hiUcn4w1ofmQUSUdR0jHDxPfOMMJGNe3ATfWES0nr8hh9tQ_A1qhhOuoJupmAMaKCgq2iyPvDKFELQZwfgkSVJQRRWHp-Go3UcdhFg8zGS0l3dpZHZKeZwS8/s1600/icap+performance.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="234" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjq_iX8rzlBCt57_wVZll4hiUcn4w1ofmQUSUdR0jHDxPfOMMJGNe3ATfWES0nr8hh9tQ_A1qhhOuoJupmAMaKCgq2iyPvDKFELQZwfgkSVJQRRWHp-Go3UcdhFg8zGS0l3dpZHZKeZwS8/s320/icap+performance.JPG" width="320" /></a></div>
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We can see that iCapital NAV slide pretty serious during financial crisis and then recovered in tandem with KLCI. The positive point is iCapital outperformed KLCI during recovery period.<br />
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Two points that I will leave you to think about if you are thinking to buy aggressively after feeling fired up.<br />
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1. When a bear market is here - iCapital NAV will drop also. If there is a serious bear market as iCapital anticipated that KLCI can break below 1,500 or even 1,000 within next 12 - 24 months. If this scenario comes true, let's say the remaining of 30% of holding can decline by 30 - 40%, NAV will drop to about RM 2.8 to RM 2.75 per share. A 20% discount to NAV will force the share to retreat to RM 2.20 level. Long term investors: BEWARE. Don't be a long term investor, be a value investor. RM 2.20 and below for next 2 - 3 years will be about the right accumulation price point.<br />
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2. Opportunity cost. iCapital as a disciplined fund manager will take time to deploy cash and also need time for the underlying securities to be recognized by the market. The time can take up to 2 - 3 years after the market capitulated. The whole cycle of market top to fully invested will take up to 5 years. Will many have that kind of patient?<br />
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<u>Depressed share price discount to NAV Conspiracy Theory</u><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFu8BIQaPx5T3qcX54g9mzZMq1o3gnqaZvIK-JEShcnG971k3dDFuyQ_PoswmnbF51tAB29FkKhjv_s_y5F9jbXd6lU_0lav3y7eNY5wOIUolG7jj6A4vCYZrUS_KOtb0qY7fqmDl3S0o/s1600/premiumvsdiscount.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="268" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFu8BIQaPx5T3qcX54g9mzZMq1o3gnqaZvIK-JEShcnG971k3dDFuyQ_PoswmnbF51tAB29FkKhjv_s_y5F9jbXd6lU_0lav3y7eNY5wOIUolG7jj6A4vCYZrUS_KOtb0qY7fqmDl3S0o/s400/premiumvsdiscount.JPG" width="400" /></a></div>
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When the share price of iCapital stagnant for a number of years, some of the investors begin to feel frustrated with the fund manager. What is not helping is City of London begin to accumulate iCapital share. The accumulation was substantial over a period of 5- 6 years with about 16% holdings. The fund manager did not saying very clearly but if you read in between the lines, iCapital fund manager was implying COL purposely ran bad publicity through media and chat room trying to depress the share price with an objective of accumulating the share at low price. The discount may narrow if they have achieved their objective of accumulation..when they stop buying share price will go up.<br />
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My views:<br />
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1. Discounts to NAV is normal. If you take a look at the top emerging markets Closed End Funds listed in USA. 10 - 15% discount under Emerging Market funds is not something we should be too alarmed even they pay dividend.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgCSaVLq6JeL_U_-IqxM7lZDC2yB0RunBkHy9x9uhnu5C5CagVQuV6OgXjQfuIw8w_00GvtQQr05t8A07BqBEfHjiKQ9_YTRIas3ciEhf-YpuqaPduoXd0slbPsLFeebE_KR9SYCtNCL0w/s1600/emerging.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="351" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgCSaVLq6JeL_U_-IqxM7lZDC2yB0RunBkHy9x9uhnu5C5CagVQuV6OgXjQfuIw8w_00GvtQQr05t8A07BqBEfHjiKQ9_YTRIas3ciEhf-YpuqaPduoXd0slbPsLFeebE_KR9SYCtNCL0w/s400/emerging.JPG" width="400" /></a></div>
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2. iCapital NAV has been moving sideway for a number of years in tandem with the fund manager strategy to raise cash. The share price also more or less mirror that movement. It will continue to do so until iCapital starts to deploy cash to buy stocks and NAV starts to move upward, I think the sentiment may continue to be dampened for a while.<br />
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<u>Theory of COL shareholder activism to close down the fund</u><br />
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iCapital has huge supporters and also a number of substantial shareholders have been holding to their shares for a long time.<br />
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For example, YM Tunku Tan Sri Dato’ Seri Ahmad Bin Tunku Yahaya/Tunku Sara Binti Tunku Ahmad Yahaya have been the shareholders for about 11 years, since inception of iCapital.<br />
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Some other substantial shareholders names like Leow Kok Meow & Sons Sendirian Berhad, Lam Fook Shin, Yeoh Ah Tu, Ocuvas Sdn. Bhd, Lee Siew Lin, etc.have been there for a number of years as well.<br />
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If there is any proxy fight, these group of core holders plus some other minority shareholders who are die hard fans of iCapital will easily defeat COL.<br />
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So, the probability of COL initiation to close down the fund will be low. Those want to buy and going for a quick flip will be disappointed.<br />
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<br />Unknownnoreply@blogger.com22tag:blogger.com,1999:blog-7417366406169637006.post-75373963968159453802016-05-23T09:21:00.001+08:002016-05-23T09:26:17.338+08:00Warren Buffett's Wealth Building Milestone<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjT0BP_n9NHbnZQjR8iUTS0z5T_8TcCO03ite4Iwry3UsqXIZD8VbTHb-acKfMf6RQio_UhaRM6j8jf6Zi3sRU64Znyy1pDzJZGGqwXBJTJXDU-FWKUeyjxWTqy5_NqKhRb9Qv-TRSbwl4/s1600/Warren+Buffett%2527s+wealth.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjT0BP_n9NHbnZQjR8iUTS0z5T_8TcCO03ite4Iwry3UsqXIZD8VbTHb-acKfMf6RQio_UhaRM6j8jf6Zi3sRU64Znyy1pDzJZGGqwXBJTJXDU-FWKUeyjxWTqy5_NqKhRb9Qv-TRSbwl4/s400/Warren+Buffett%2527s+wealth.png" width="400" /></a></div>
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http://www.gobankingrates.com/personal-finance/rich-warren-buffett-age/<br />
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I replot the data of Warren Buffett's wealth from the link that I found, to examine how he builds up his wealth over the years. It's an amazing chart that look like a hockey stick.<br />
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The most profound things about this finding is life of super rich building begins at 50s. Take a look at this chart of how Warren Buffett's nett worth increased over the years. Warren Buffett nett worth is close to about USD 67 billion when he is at his 80s, represent the gains of almost 99% after 50 year old. By the time of 50s, USD 20 million is not a number that impossible for many people to achieve. It is certainly quite achievable but what he did with the foundation that they builds up was really amazing.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEijfCguS7Q2kuKNaHsxLKOvBY6mLgbJFMZzW_tSAF4Vr6EJCIGyu15BJJMl3R5O1NDxj19j8zOJ0igMLUu7wO25TvzLrRCLViThLGKp3ysUMt0LN_mgjPHnh7xCmbO3BJULG3DL5LGEWaE/s1600/age_wealth.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="210" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEijfCguS7Q2kuKNaHsxLKOvBY6mLgbJFMZzW_tSAF4Vr6EJCIGyu15BJJMl3R5O1NDxj19j8zOJ0igMLUu7wO25TvzLrRCLViThLGKp3ysUMt0LN_mgjPHnh7xCmbO3BJULG3DL5LGEWaE/s320/age_wealth.png" width="320" /></a></div>
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<blockquote class="tr_bq">
<span style="background-color: white; font-family: "palatino linotype" , "book antiqua" , "palatino" , serif; font-size: 14px; line-height: 22.4px;"><span style="color: red;">"My wealth has come from a combination of living in America, some lucky genes, and compound interest." – Warren Buffett</span></span></blockquote>
Time and compounding interest are truly very powerful forces in the universe. I guess I have just witnessed that.<br />
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We may not be able to replicate what this man has done but I am certainly learn a few things from him. One thing is really avoiding stupid mistakes. How many of us wasted too much time that we will not be able to replenish once it is gone.It takes a man to 30 years to build up a foundation to be ready to play the biggest game in one's life. The real game starts at 50s.<br />
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Secondly what we did after 50s is another thing. Most people may be thinking of starting to spend what they have thinking their days were numbered and better be happy and partying like there is no tomorrow. How wrong!<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3vQqK_4T43D-MSvgWoU6JIE-D4LmM1KlBSsUAS08_szS_2t3QYUo48QWxYfCU6supqJDpxeqdWIjC4m3szmvdDcWOuIEv5HHA2cFMo8DCT9mGm5LpjiN-9fZ9EaZTO_JgXKlZikbYQB0/s1600/50s.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="181" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3vQqK_4T43D-MSvgWoU6JIE-D4LmM1KlBSsUAS08_szS_2t3QYUo48QWxYfCU6supqJDpxeqdWIjC4m3szmvdDcWOuIEv5HHA2cFMo8DCT9mGm5LpjiN-9fZ9EaZTO_JgXKlZikbYQB0/s400/50s.png" width="400" /></a></div>
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For sure, we may not be a billionaire by the age of 50s but for sure we got a shot of being a millionaire. If we don't screw up and continue to live prudently, at 10% compounding return, our net worth will grow staggering to over 17 million by the time we reach his age.<br />
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My paradigm certainly shifted. Beside knowing compounding interest and time, there is another secret. To many, we may have worked very hard for 30 years and while we were thinking going into retirement and start spending all the hard earned money, consider hoarding it for another 30 years. It will produce wealth that is so big that we may never imagine possible in our lifetime. :)<br />
<br />Unknownnoreply@blogger.com5tag:blogger.com,1999:blog-7417366406169637006.post-15583100698785317862016-02-09T13:32:00.005+08:002016-02-09T13:34:46.876+08:00Happy Chinese New Year & Market Forecast<br />
First, greet everyone a happy Chinese New Year.<br />
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Market forecast ?<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsFH-XDUi1iHl4VvFz7l9heHECRpJsyM6aBlCfkXOTzIXsftIP8AgvCkgTHhCWg6r47YOUevMO_oVPUuiM_u1dxnqvF2Ls-JOF_9-U75dfPxMLOnm4DVUX9wEQ4oDuZaXeFeIceKm-ZN8/s1600/boiling_frogs_syndrome.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="442" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsFH-XDUi1iHl4VvFz7l9heHECRpJsyM6aBlCfkXOTzIXsftIP8AgvCkgTHhCWg6r47YOUevMO_oVPUuiM_u1dxnqvF2Ls-JOF_9-U75dfPxMLOnm4DVUX9wEQ4oDuZaXeFeIceKm-ZN8/s640/boiling_frogs_syndrome.jpeg" width="640" /></a></div>
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I was sure that many did not realize that the stock markets around the world peaked out in April/May 2015. The bear market momentum was slow at first and now going almost going for a full throttle.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhwEhVTcP2tJAdNk3RquE_6YA18f5MVmp3ltcWUYKqgdzJUWzL6Iy7cyCFTZYA8Ec0OxlHLmrlBSXzqgVxZSmw6cF3mHpcxLdwE-sudz7OFAyDUf8wk4zgqaRZgYL8-CrP9oLlCuaiEP9E/s1600/Global_Bear.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="362" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhwEhVTcP2tJAdNk3RquE_6YA18f5MVmp3ltcWUYKqgdzJUWzL6Iy7cyCFTZYA8Ec0OxlHLmrlBSXzqgVxZSmw6cF3mHpcxLdwE-sudz7OFAyDUf8wk4zgqaRZgYL8-CrP9oLlCuaiEP9E/s640/Global_Bear.JPG" width="640" /></a></div>
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<br />Unknownnoreply@blogger.com12tag:blogger.com,1999:blog-7417366406169637006.post-41512221403389607662016-01-20T20:42:00.002+08:002016-01-20T20:42:22.745+08:00Where are we now in the cycle of fear ?<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1YVp5jEq5X_VlRrPAJGlGdgM3Wp9Beb620jEPmNk39V22IjTwUQfX49BJSspXaDwGFPq2GGoGl7FxaBkln5yAmn6J_MnJxEMO7xyL4DjvQSSsdkrEUiEhSb9hkeJSBcTgNl3vIaFkJuM/s1600/Snap3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="340" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1YVp5jEq5X_VlRrPAJGlGdgM3Wp9Beb620jEPmNk39V22IjTwUQfX49BJSspXaDwGFPq2GGoGl7FxaBkln5yAmn6J_MnJxEMO7xyL4DjvQSSsdkrEUiEhSb9hkeJSBcTgNl3vIaFkJuM/s640/Snap3.jpg" width="640" /></a></div>
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In between dismissal and denial.</div>
Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-7417366406169637006.post-70399760320881906542016-01-01T13:53:00.002+08:002016-01-01T13:58:18.369+08:00Turtleinvestor's Portfolio as at 31 Dec 2015<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjra-KLVz9h4XzHlto4_7JHoIK6zsgXT0al2s21xqs5LD2yHLoeSrNhqtb5iesmtd2boej9gm_S7lkjw9UMRoYHSIZi8TaPOMvrg0LxWpXYnHREgWL2pw6ugRgLDhmsHTN7ARUbTk95UaQ/s1600/31_12_2015.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="156" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjra-KLVz9h4XzHlto4_7JHoIK6zsgXT0al2s21xqs5LD2yHLoeSrNhqtb5iesmtd2boej9gm_S7lkjw9UMRoYHSIZi8TaPOMvrg0LxWpXYnHREgWL2pw6ugRgLDhmsHTN7ARUbTk95UaQ/s640/31_12_2015.JPG" width="640" /></a></div>
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Happy New Year 2016!<br />
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Wow! Soon this Turtleinvestor's portfolio will be coming to 8 years. Was glad that not a single year that this portfolio had gone into a negative year. Out of 7+ years, there is only 1 year that it managed to achieve CAGR of 10%. That year was 2010, the first year, after the market hit a bottom in 2009 financial crisis. I have been either underweight equities or out of stock market since year 2011.<br />
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To hit 10% CAGR in 2014, Book Value needs to be around RM 134 k or about 34% from book value as at 31 December 2015. It is not a difficult and certainly possible to catch up during next bear market. How? Assuming KLCI hits about 1,000 points by 2018 or 2 years from 2016 and going back to 1,700 points in 2 years or 2020, CAGR will be close to 9.44%. How?<br />
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2015 RM 100 k + 4 years x 888 x 12 = RM 142 k. By the time it goes back to 1,700 or 70% up, RM 142 k x 1.7 = RM 241 k. By using a compounding calculator, period = 143. CAGR will be 9.44%.<br />
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My point? You may continue to see me to have about 3.5% for the next 2-3 years and a good possibility of huge spike in 1 year. Based on my years of long enough in the stock market, this is quite a normal trend that a value investor will have boring returns for many years until I hit a home run.<br />
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Now you know that why I have not quit yet and still in the game. That is the whole point: never lose money so that I can continue stay in the game.<br />
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<br />Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-7417366406169637006.post-80028396636747547322015-12-24T18:34:00.002+08:002015-12-24T18:35:16.839+08:00Wrapping Up 2015<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjC71pcqAi1PptYlD8tbJgLyhhERQK82wgSkrgIdq3Gj-MWBSqm3sUPBQVHW-nmZlBLMEXVlZ3G1X4-EHyfMbsI68SYVpFO_7PS6Z3wSRoIwH8ViAk1dsCa_R21IlqY-H-mMd9gpPR0IBU/s1600/2015.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="416" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjC71pcqAi1PptYlD8tbJgLyhhERQK82wgSkrgIdq3Gj-MWBSqm3sUPBQVHW-nmZlBLMEXVlZ3G1X4-EHyfMbsI68SYVpFO_7PS6Z3wSRoIwH8ViAk1dsCa_R21IlqY-H-mMd9gpPR0IBU/s640/2015.JPG" width="640" /></a></div>
<br />Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-7417366406169637006.post-17331419212547685032015-11-09T12:11:00.000+08:002015-11-09T12:11:43.566+08:00Silent ‘epidemic’ of ageing<div class="tr_bq" style="background-color: white; border: 0px; color: #444444; font-family: Roboto, Arial, Tahoma, Helvetica, sans-serif; font-size: 17px; font-stretch: normal; line-height: 23px; margin-bottom: 17px; padding: 0px;">
<strong style="border: 0px; margin: 0px; padding: 0px;">Just to share ......</strong></div>
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<strong style="border: 0px; margin: 0px; padding: 0px;">23 years from today, number of Malaysia aged 65 or older will double to 14%....</strong></div>
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23 years are very short indeed. Considering many do not have many dependents. What is worst even they have dependent, they are unable to support their parents. The financial markets have not been very kind either. The recent volatile financial markets have been very tough for most of the fund managers.</div>
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Years of low interest rates are actually making things worse. </div>
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<strong style="border: 0px; margin: 0px; padding: 0px;">Malaysia, like many of its neighbours in Asia, is in danger of getting old before we know it.</strong></blockquote>
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CHALLENGES of the ageing population are no longer issues faced by developed countries. Developing countries are fast catching up and Malaysia is not spared.</blockquote>
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<span style="background-color: white; color: #444444; font-family: Roboto, Arial, Tahoma, Helvetica, sans-serif; font-size: 17px; line-height: 23px;">In fact, the speed of growth in the number of the aged in developing nations is so alarming that innovative thinking at all levels is needed to address it if we are to avert a crisis, says Universiti Putra Malaysia (UPM) Institute of Gerontology director Prof Dr Tengku Aizan Tengku Abdul Hamid.</span></blockquote>
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It is a “silent epidemic”, she says.</blockquote>
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<span style="background-color: white; color: #444444; font-family: Roboto, Arial, Tahoma, Helvetica, sans-serif; font-size: 17px; line-height: 23px;">“While France took more than 100 years to double her population aged 65 and over from 7% to 14% (from 1865 to 1980), the older population in Malaysia aged 65 or over will take only 23 years to double from 7% in 2020 to 14% in 2043.</span></blockquote>
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<span style="background-color: white; color: #444444; font-family: Roboto, Arial, Tahoma, Helvetica, sans-serif; font-size: 17px; line-height: 23px;">“So, compared with the more developed countries, Malaysia has a rather short time to prepare for the transition into an aged nation,” says Tengku Aizan.</span> </blockquote>
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It is therefore urgent to prepare the nation for this eventuality as it takes more than a decade for social institutions to change, she stresses.<br />One main problem is that ageing issues in the country are handled by separate agencies, making them fragmented and hampering them from providing the best solutions.<span style="background-color: transparent;"> </span></blockquote>
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“There should a central planning body that oversees all aspects of population from the life course perspectives, with inputs from all stakeholders and made up of multidisciplinary team members who could analyse, organise and plan the kind of policies and programmes needed to best address the issues,” she says.<span style="background-color: transparent;"> </span></blockquote>
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A nation is considered aged when the older population makes up 7% of its total population, Tengku Aizan highlights, quoting a US National Institute on Aging report, “An Aging World: 2008”.<span style="background-color: transparent;"> </span></blockquote>
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As the study also points out, Sweden took 85 years to double her population aged 65 and over (1890 to 1975), Australia, 74 years (1938 to 2012), the United States, 68 years (1944 to 2012), Britain, 45 years (1930 to 1975) and Japan, 26 years (1970 to 1996) to double her population aged 65 years and over from 7% to 14%.<span style="background-color: transparent;"> </span></blockquote>
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In contrast, developing countries such as China would only take 22 years to double her population aged 65 years (2001 to 2023), Singapore, 20 years (2007 to 2027), Korea, 18 years (1999 to 2017) and Vietnam, 16 years (2020 to 2036), she highlights, based on the findings of K. Kinsella & Y. J. Gist in their book <em>Older Workers, Retirement and Pensions</em> in 1995 as well as Tengku Aizan’s own calculations from the International Data Base (US Census Bureau, 2013).<span style="background-color: transparent;"> </span></blockquote>
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Read the rest here: http://www.thestar.com.my/News/Nation/2015/08/09/Silent-epidemic-of-ageing-Malaysia-like-many-of-its-neighbours-in-Asia-is-in-danger-of-getting-old-b/</blockquote>
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Unknownnoreply@blogger.com12tag:blogger.com,1999:blog-7417366406169637006.post-86005898669098735952015-11-03T10:55:00.001+08:002015-11-03T10:55:40.149+08:00TED Talks - A tale of two political systems - Eric X Li - YouTube<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/2ebgyTIGzVA" width="480"></iframe>Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-7417366406169637006.post-2959827040943225102015-11-02T15:09:00.001+08:002015-11-02T15:09:33.146+08:00< = > Less equals to more<h1 class="entry-title" itemprop="headline" style="background-color: white; border: 0px; box-sizing: border-box; color: #594a42; font-family: proxima-nova, sans-serif; font-size: 26px; letter-spacing: 0px; line-height: 1.2; margin: 0px 0px 20px; padding: 0px; vertical-align: baseline;">
21 Benefits of Owning Less</h1>
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Minimalist living is countercultural. It is contrary to every advertisement we have ever seen because we live in a society that prides itself on the accumulation of possessions.</div>
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But there is more joy to be found owning less than can be found pursuing more. Consider just some of the benefits of living with fewer possessions.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">1. <a href="http://www.becomingminimalist.com/benefit-1-simple-dollars-and-sense/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Spend Less</a> </span> | Choosing to accumulate only the essential often results in financial freedom.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">2. <a href="http://www.becomingminimalist.com/benefit-less-stress/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Less Stress</a> </span>| A minimalist home is significantly less stressful.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">3. <a href="http://www.becomingminimalist.com/benefit-easier-to-clean/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Easier to Clean</a></span> | The fewer things in our home, the easier they are to clean.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">4. <a href="http://www.becomingminimalist.com/benefit-freedom/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">More Freedom</a></span> | The sense of freedom that comes from minimalism is truly refreshing.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">5. <a href="http://www.becomingminimalist.com/benefit-good-for-the-environment/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Good for the Environment</a></span> | The less we consume, the less damage we do to the environment.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">6. <a href="http://www.becomingminimalist.com/benefit-be-more-productive/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Be More Productive</a></span> | Our possessions consume our time more than we realize.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">7. <a href="http://www.becomingminimalist.com/benefit-example-for-kids/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Example for my Kids</a></span> | These are valuable life lessons they will never learn in the media.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">8. <a href="http://www.becomingminimalist.com/benefit-financially-support-other-causes/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Support Other Causes</a></span> | Money is only as valuable as what we choose to spend it on.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">9. <a href="http://www.becomingminimalist.com/benefit-own-quality/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Own Higher Quality Things</a></span> | More is not better… better is better.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">10. <a href="http://www.becomingminimalist.com/benefit-less-work-for-someone-else/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Less Work for Someone Else</a> | </span>Create a less stressful life today and lessen the burden on someone else too.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">11. <a href="http://www.becomingminimalist.com/benefit-be-happier/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Be Happier</a></span> | Owning fewer possessions makes you happier.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">12. <a href="http://www.becomingminimalist.com/benefit-love-your-work/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Do Work You Love</a></span> | Own less stuff. Choose work you love.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">13. <a href="http://www.becomingminimalist.com/benefit-freedom-from-comparison/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Freedom From the Comparison Game</a></span> | Our culture begs us to own more.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">14. <a href="http://www.becomingminimalist.com/benefit-things-that-matter-most/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Time for Things that Matter Most</a></span> | The more stuff you own, the more your stuff owns you.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">15. <a href="http://www.becomingminimalist.com/benefit-visually-appealing/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Visually Appealing</a></span> | Make your home more appealing.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">16. <a href="http://www.becomingminimalist.com/benefit-not-tied-to-the-past/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Not Tied to the Past</a> | </span>Release the past to create a better tomorrow.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">17. <a href="http://www.becomingminimalist.com/benefit-less-places-for-your-heart/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Less Places for Your Heart</a></span> | Invest your heart into meaningful things.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">18. <a href="http://www.becomingminimalist.com/benefit-rest/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">More Opportunity for Rest</a></span> | Take a deep breath.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">19. <a href="http://www.becomingminimalist.com/benefit-easier-to-find/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Find Things Easier</a> | </span>Own less clutter. Find stuff quicker.</div>
<div style="background-color: white; border: 0px; box-sizing: border-box; color: #594a42; font-family: proxima-nova, sans-serif; font-size: 18px; letter-spacing: 0.3px; line-height: 27px; margin-bottom: 28px; padding: 0px; vertical-align: baseline;">
<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">20. <a href="http://www.becomingminimalist.com/benefit-live-smaller/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Live in a Smaller Space</a></span> | For most families, a house is the costliest investment they’ll ever make.</div>
<div style="background-color: white; border: 0px; box-sizing: border-box; color: #594a42; font-family: proxima-nova, sans-serif; font-size: 18px; letter-spacing: 0.3px; line-height: 27px; margin-bottom: 28px; padding: 0px; vertical-align: baseline;">
<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; padding: 0px; vertical-align: baseline;">21. <a href="http://www.becomingminimalist.com/benefit-display-what-you-value-most/" style="border-bottom-color: rgb(89, 74, 66); border-bottom-style: dotted; border-width: 0px 0px 1px; box-sizing: border-box; color: #594a42; margin: 0px; padding: 0px; text-decoration: none; transition: all 0.2s ease-in-out; vertical-align: baseline;">Display What You Value Most</a> </span>| Communicate what is most important.</div>
<div style="background-color: white; border: 0px; box-sizing: border-box; margin-bottom: 28px; padding: 0px; vertical-align: baseline;">
<span style="color: #594a42; font-family: proxima-nova, sans-serif;"><span style="font-size: 18px; letter-spacing: 0.3px; line-height: 27px;">http://www.becomingminimalist.com/minimalism-benefits/</span></span></div>
<div style="background-color: white; border: 0px; box-sizing: border-box; color: #594a42; font-family: proxima-nova, sans-serif; font-size: 18px; letter-spacing: 0.3px; line-height: 27px; margin-bottom: 28px; padding: 0px; vertical-align: baseline;">
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7417366406169637006.post-20961942764570489242015-09-26T23:46:00.000+08:002015-09-26T23:46:01.089+08:00Bear markets already startedThe most obvious one.....<br />
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Hang Seng Index already plunged more than 24%<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJJ-oVh5Xs9XFX2jvD9aCKsQoTktibHjf2PLWFOYeAVlVuA9ULxDZztPGPggUh192X3mtVdGiwdRqVNw3gGi6Lc8L4PW1YprrNZ37bafiecaSUJWDUpQTc28l8JVjLbuCyBUOlr_Thyhw/s1600/HSI.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJJ-oVh5Xs9XFX2jvD9aCKsQoTktibHjf2PLWFOYeAVlVuA9ULxDZztPGPggUh192X3mtVdGiwdRqVNw3gGi6Lc8L4PW1YprrNZ37bafiecaSUJWDUpQTc28l8JVjLbuCyBUOlr_Thyhw/s400/HSI.JPG" width="400" /></a></div>
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Singapore market also plunged by 20%<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiW4SUR6D61TSU4USqX1X-mI00o6reIU8q3HlFuktorXic6U1YltcfBAqsMWdtn2gDfgbMoZc0_01YX7QgCyKiE7P52lgLmyNzD18mk8Y_u3RXH1KJQFcvmfm4aa86hbMZJujrz3vhQlzQ/s1600/STI.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="241" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiW4SUR6D61TSU4USqX1X-mI00o6reIU8q3HlFuktorXic6U1YltcfBAqsMWdtn2gDfgbMoZc0_01YX7QgCyKiE7P52lgLmyNzD18mk8Y_u3RXH1KJQFcvmfm4aa86hbMZJujrz3vhQlzQ/s400/STI.JPG" width="400" /></a></div>
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Can't imagine what will happen when S & P 500 and Dow Jones Industrial enter bear market.</div>
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Will these markets get even more depressed with another 20% down? Very likely.</div>
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What about KLCI which just entered in a correction territory despite of so much bad news such as 1MDB scandal created so much uncertainty and rapid Ringgit depreciation?</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuRcKKaOlbriSM3rrHFCD_WoAGL-CanZPrqJ1IOsudtHc1KWlUxsD7VA0VssQN50KXtE5dZvWP5B0cwpWNKrwYzpk8BX_qVQTbbbQHNVI7IzK3FQx0BMdNUlzQT7KuTn8vGcLNSiLn8m0/s1600/KLCI.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="222" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuRcKKaOlbriSM3rrHFCD_WoAGL-CanZPrqJ1IOsudtHc1KWlUxsD7VA0VssQN50KXtE5dZvWP5B0cwpWNKrwYzpk8BX_qVQTbbbQHNVI7IzK3FQx0BMdNUlzQT7KuTn8vGcLNSiLn8m0/s400/KLCI.JPG" width="400" /></a></div>
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My view is worse is yet to come. I won't go posting a bear case everyday like what I did in 2007/2008 cycle. I will let the gravity rules - the markets will fall on its weight.</div>
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Just forget about the noise of 1MDB or Federal Reserves that keep everyone guessing on the timing of a rate hike.</div>
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Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-7417366406169637006.post-22814327139980557472015-08-11T20:55:00.002+08:002015-08-11T20:55:15.269+08:00Keep Calm -- I am fully loaded with Cash<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgCBuqZVPntdEk7IfAKj782CtBdItGSzAVvxfqwr8gQmEyWft89y4yjzG0s6xIuUNNsVWh2Rom3BxRDP8TkpzlTBUffPVIoANzjqQbTk6vcbeoLYO-bzBXD1PoB_Zb8biSgLSl8gWiXlDY/s1600/how-stay-calm-in-crisis.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="223" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgCBuqZVPntdEk7IfAKj782CtBdItGSzAVvxfqwr8gQmEyWft89y4yjzG0s6xIuUNNsVWh2Rom3BxRDP8TkpzlTBUffPVIoANzjqQbTk6vcbeoLYO-bzBXD1PoB_Zb8biSgLSl8gWiXlDY/s400/how-stay-calm-in-crisis.jpg" width="400" /></a></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfuT95anZFqa6R8ynRjsXyELP4_zqO0iZbzMP-Wmr_QJboRKzGjed2yUjHocYMKpx0BD0-7YO5wEADW060QJwsKpsc5Ohz5684Pjv7X9YgV4Zu9omTVMEN5kDAkxXpHWmcxuz3Sd4GHWk/s1600/KLCI.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="203" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfuT95anZFqa6R8ynRjsXyELP4_zqO0iZbzMP-Wmr_QJboRKzGjed2yUjHocYMKpx0BD0-7YO5wEADW060QJwsKpsc5Ohz5684Pjv7X9YgV4Zu9omTVMEN5kDAkxXpHWmcxuz3Sd4GHWk/s400/KLCI.JPG" width="400" /></a></div>
<br />Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-7417366406169637006.post-40454916945856062152015-07-09T06:09:00.001+08:002015-07-09T06:09:49.543+08:00Sold cimbc50 3000 shares @ 1.30Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7417366406169637006.post-12589126480034741652015-07-01T08:01:00.001+08:002015-07-01T08:01:41.347+08:00Long time no post<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiz8k5spV_sIjVtRjBs2BEPCgx_uq7InPtCynmUn0Np3YaAo3ZmJoCDkfxUy2qLPp4azbxw0OeX7tecZ_B4HSS7wEgGG4cSWkmzGn6J0HLKclmhO1OGcBWC8_ZCxmhvwL3hXZStDDxfDb8/s1600/Be_careful_of_margins.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="241" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiz8k5spV_sIjVtRjBs2BEPCgx_uq7InPtCynmUn0Np3YaAo3ZmJoCDkfxUy2qLPp4azbxw0OeX7tecZ_B4HSS7wEgGG4cSWkmzGn6J0HLKclmhO1OGcBWC8_ZCxmhvwL3hXZStDDxfDb8/s320/Be_careful_of_margins.JPG" width="320" /></a></div>
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If you are a vivid follower of the stock market, the recent plunged of Shanghai stock market was due to deleveraging. It can just declined more than 20% in 2 weeks. The above chart looks scary to me. The margin is even higher than the tech bubble. It will be too late to run when the margin calls are here.<br />
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<h1 class="titleTxt32 blueTxt mb10" style="color: #004678; font-family: 'Times New Roman', Times, serif; font-size: 32px; font-weight: normal; margin: 0px 0px 10px; padding: 0px;">
<z>'<z>Black</z> <z>Friday</z>' <z>sweeps</z> <z>over</z> <z>stock</z> <z>market</z></z></h1>
<span class=" block blueTxt mb10" style="color: #004678; display: block; margin-bottom: 10px;"><z><z>By</z> <z>Dai</z> <z>Tian</z> (<z>chinadaily</z>.<z>com</z>.<z>cn</z>)</z></span><span class="greyTxt6 block mb15" style="color: #666666; display: block; margin-bottom: 15px;"><z><z>Updated</z>: 2015<z>-</z>06<z>-</z>26 16:34</z></span></div>
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<span class="tw_box6 newsTop line1" style="color: #4c4c4c; font-size: 14px; overflow: hidden; padding-bottom: 10px; padding-top: 10px; width: 465px;"><span class="comBox" style="display: block; font-size: 12px; overflow: hidden; padding-right: 30px;"><a class="comm-ico" href="http://www.chinadaily.com.cn/business/2015-06/26/content_21114476.htm#iscomment" style="background: url(http://www.chinadaily.com.cn/image_e/2013/ico_com.png) 0% 50% no-repeat; color: #014073; display: block; float: left; margin-left: 10px; margin-right: 0px; padding-left: 17px; text-decoration: none;"><z>Comments</z></a><a class="print-ico" href="https://www.blogger.com/null" style="background-image: url(http://www.chinadaily.com.cn/image_e/2013/ico_print.png); background-position: 0% 50%; background-repeat: no-repeat; color: #014073; display: block; float: left; margin-left: 10px; margin-right: 0px; padding-left: 16px;"><z>Print</z></a><a class="mail-ico" href="https://www.blogger.com/null" style="background: url(http://www.chinadaily.com.cn/image_e/2013/ico_mail.png) 0% 50% no-repeat; color: #014073; display: block; float: left; margin-left: 10px; margin-right: 0px; padding-left: 16px;"><z>Mail</z></a><span class="large-ico" style="background: url(http://www.chinadaily.com.cn/image_e/2013/ico_fdj.png) 0% 50% no-repeat; display: block; padding-left: 22px;"><a href="https://www.blogger.com/null" style="color: #014073; float: left; margin-left: 10px; margin-right: 0px;"><z>Large</z></a><a href="https://www.blogger.com/null" style="color: #014073; float: left; margin-left: 10px; margin-right: 0px;"><z>Medium</z></a><a href="https://www.blogger.com/null" style="color: #014073; float: left; margin-left: 10px; margin-right: 0px;"><z>Small</z></a></span></span></span></div>
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<tr><td align="middle" valign="center"><img align="middle" alt="'Black Friday' sweeps over stock market" border="1" id="10330628" md5="" src="http://www.chinadaily.com.cn/business/img/attachement/gif/site1/20150626/eca86bd9e2e016f7534c06.gif" style="border: 0px none; margin: 0px; padding: 0px;" valign="center" /></td></tr>
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<span style="font-size: 10pt;"><z>Investor</z> <z>at</z> <z>a</z> <z>securities</z> <z>brokerage</z> <z>in</z> <z>Huaibei</z> <z>city</z>, <z>East</z> <z>China</z>'<z>s</z> <z>Anhui</z> <z>province</z>, <z>June</z> 26, 2015. [<z>Photo</z>/<z>IC</z>]</span></div>
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<div style="margin-bottom: 15px;">
<z><z>Chinese</z> <z>stocks</z> <z>suffered</z> <z>a</z> "<z>Black</z> <z>Friday</z>", <z>with</z> <z>the</z> <z>ChiNext</z> <z>index</z>, <z>a</z> <z>Nasdaq-style</z> <z>board</z> <z>of</z><z>Shenzhen-listed</z> <z>growth</z> <z>enterprises</z>, <z>plunging</z> 8.9 <z>percent</z> <z>as</z> <z>fears</z> <z>saw</z> <z>leveraged</z> <z>investors</z><z>jettison</z> <z>their</z> <z>holdings</z>.</z></div>
<div style="margin-bottom: 15px;">
<z><z>The</z> <z>benchmark</z> <z>Shanghai</z> <z>Composite</z> <z>Index</z> <z>dived</z> 7.4 <z>percent</z> <z>to</z> 4,192.87 <z>at</z> <z>the</z> <z>close</z>, <z>its</z><z>steepest</z> <z>fall</z> <z>in</z> <z>five</z> <z>months</z>, <z>while</z> <z>the</z> <z>Shenzhen</z> <z>Component</z> <z>Index</z> <z>slumped</z> 8.2 <z>percent</z> <z>to</z>14,398.79.</z></div>
<div style="margin-bottom: 15px;">
<z>"<z>Signs</z> <z>of</z> <z>the</z> <z>market</z> <z>edging</z> <z>down</z> <z>have</z> <z>triggered</z> <z>panic</z> <z>among</z> <z>investors</z>, <z>many</z> <z>of</z> <z>whom</z> <z>are</z><z>leveraged</z> <z>and</z> <z>forced</z> <z>to</z> <z>close</z> <z>their</z> <z>position</z>," <z>said</z> <z>Yang</z> <z>Delong</z>, <z>chief</z> <z>strategist</z> <z>at</z> <z>China</z><z>Southern</z> <z>Asset</z> <z>Management</z>.</z></div>
<div style="margin-bottom: 15px;">
<z><z>Data</z> <z>showed</z> <z>pullback</z> <z>by</z> <z>leveraged</z> <z>trading</z> <z>as</z> <z>the</z> <z>outstanding</z> <z>balance</z> <z>of</z> <z>margin-debt</z> <z>at</z> <z>the</z><z>Shanghai</z> <z>Stock</z> <z>Exchange</z> <z>fell</z> <z>from</z> <z>a</z> <z>record</z> <z>high</z> <z>for</z> <z>a</z> <z>fourth</z> <z>day</z> <z>on</z> <z>Thursday</z> <z>to</z> 1.42 <z>trillion</z><z>yuan</z> ($229 <z>billion</z>).</z></div>
<div style="margin-bottom: 15px;">
<z>"<z>The</z> <z>market</z> <z>will</z> <z>remain</z> <z>volatile</z> <z>but</z> <z>likely</z> <z>to</z> <z>rebound</z> <z>if</z> <z>not</z> <z>in</z> <z>a</z> <z>short</z> <z>term</z>," <z>the</z> <z>strategist</z> <z>told</z><z>China</z> <z>Daily</z>, <z>adding</z> <z>that</z> <z>it</z>'<z>s</z> <z>too</z> <z>early</z> <z>to</z> <z>say</z> <z>the</z> <z>country</z>'<z>s</z> <z>year-long</z> <z>bull</z> <z>market</z> <z>has</z> <z>peaked</z>.</z></div>
<div style="margin-bottom: 15px;">
<z><z>The</z> <z>market</z> <z>view</z> <z>diverged</z> <z>however</z> <z>as</z> <z>Morgan</z> <z>Stanley</z> <z>advised</z> <z>clients</z> <z>to</z> <z>refrain</z> <z>from</z><z>investing</z> <z>in</z> <z>mainland</z> <z>shares</z> <z>in</z> <z>a</z> <z>report</z> <z>on</z> <z>Friday</z>, <z>saying</z> <z>the</z> <z>top</z> <z>for</z> <z>the</z> <z>cycle</z> <z>has</z> <z>been</z><z>reached</z>.</z></div>
<div style="margin-bottom: 15px;">
<z><z>Nearly</z> 2,000 <z>stocks</z> <z>tumbled</z> <z>by</z> <z>the</z> <z>daily</z> <z>limit</z> <z>of</z> 10 <z>percent</z> <z>on</z> <z>Friday</z>, <z>among</z> <z>which</z><z>technology</z> <z>shares</z> <z>and</z> <z>small</z> <z>companies</z> <z>led</z> <z>the</z> <z>rout</z>.</z></div>
<div style="margin-bottom: 15px;">
<z>"<z>The</z> <z>decline</z> <z>is</z> <z>part</z> <z>of</z> <z>an</z> <z>automatic</z> <z>adjustment</z> <z>in</z> <z>response</z> <z>to</z> <z>the</z> <z>rapid</z> <z>surge</z> <z>earlier</z> <z>and</z> <z>is</z><z>the</z> <z>result</z> <z>of</z> <z>a</z> <z>market</z> <z>mechanism</z>, <z>amplified</z> <z>by</z> <z>liquidity</z> <z>fluctuation</z> <z>and</z> <z>deleveraging</z>," <z>said</z><z>Zhang</z> <z>Xiaojun</z>, <z>a</z> <z>spokesman</z> <z>for</z> <z>the</z> <z>China</z> <z>Securities</z> <z>Regulatory</z> <z>Commission</z>, <z>at</z> <z>the</z> <z>weekly</z><z>briefing</z> <z>on</z> <z>Friday</z>.</z></div>
<div style="margin-bottom: 15px;">
<z><z>Despite</z> <z>the</z> <z>sharp</z> <z>correction</z>, <z>market</z> <z>liquidity</z> <z>is</z> <z>abundant</z> <z>and</z> <z>the</z> <z>economy</z> <z>has</z> <z>shown</z><z>stronger</z> <z>signs</z> <z>of</z> <z>stable</z> <z>growth</z>, <z>he</z> <z>added</z>.</z></div>
<div style="margin-bottom: 15px;">
<z><z>The</z> <z>Shanghai</z> <z>gauge</z> <z>has</z> <z>surged</z> <z>nearly</z> 30 <z>percent</z> <z>since</z> <z>the</z> <z>beginning</z> <z>of</z> <z>this</z> <z>year</z> <z>and</z> 124<z>percent</z> <z>over</z> <z>the</z> <z>past</z> <z>year</z> <z>until</z> <z>Thursday</z>.</z></div>
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<z>"<z>The</z> <z>deleveraging</z> <z>is</z> <z>healthier</z> <z>for</z> <z>the</z> <z>market</z> <z>after</z> <z>all</z>," <z>said</z> <z>Yang</z>, <z>adding</z> <z>that</z> <z>he</z> <z>recommends</z><z>blue-chips</z> <z>whose</z> <z>valuations</z> <z>are</z> <z>below</z> <z>the</z> <z>historical</z> <z>level</z> <z>and</z> <z>defensive</z> <z>sectors</z> <z>such</z> <z>as</z><z>beverage</z> <z>and</z> <z>insurance</z> <z>stocks</z>.</z></div>
<div style="margin-bottom: 15px;">
<z><z>The</z> <z>CSI</z> 300 <z>Index</z> <z>slumped</z> 7.9 <z>percent</z> <z>to</z> <z>close</z> <z>at</z> 4,336.20 <z>on</z> <z>Friday</z>.</z></div>
<div style="margin-bottom: 15px;">
<z><z>Cai</z> <z>Xiao</z> <z>contributed</z> <z>to</z> <z>this</z> <z>story</z>.</z></div>
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Unknownnoreply@blogger.com3tag:blogger.com,1999:blog-7417366406169637006.post-151109139144206502015-05-07T08:31:00.002+08:002015-05-07T08:31:16.857+08:00When kings got dethroned.....First, it was Bill Gross got dethroned as king of bonds and now we have Mark Mobious dethroned as king of emerging markets. Those basically believe in valuation practically got hammered and driven to the ground.<br />
<br />
<br />
<b>The End of Mark Mobius’s Reign as King of Emerging-Market Stocks</b><br />
<br />
<blockquote class="tr_bq">
For a quarter of a century the name Mark Mobius has been synonymous with investing in developing markets. A bald, energetic, New York native who often dresses in white suits, Mobius is constantly tweeting and appearing on television from St. Petersburg to São Paulo encouraging investors to put money into fast-growing developing economies. A Mark Mobius comic book published in Asia in 2007 chronicled his globe-trotting exploits. (Really.) In the U.S. he was voted by his peers onto a list of the top 10 investors of the 20th century, putting him alongside Warren Buffett, Julian Robertson, and George Soros. What Bill Gross was to bonds, Mobius was to emerging markets: the King.<br />His reign may be coming to an end. Like Gross, Mobius, 78, has posted mediocre numbers in recent years and seen investors depart. While they still make money, 11 of the 13 largest funds that Mobius oversees at Franklin Templeton Investments have underperformed their benchmarks over the past five years. At his zenith in 2011, Mobius oversaw $39 billion. Today that figure is down to $26 billion. And in December, his flagship Asian Growth Fund lost its long-held position as the region’s largest to First State Investments’ Asia Pacific Leaders Fund. “He’s one of the few well-known managers in emerging markets,” says Todd Rosenbluth, director of mutual fund and ETF research at S&P Capital IQ. “Unfortunately, the track record is below average. Investors are more frustrated.”</blockquote>
<br />
http://www.bloomberg.com/news/articles/2015-05-06/mark-mobius-s-reign-as-king-of-emerging-market-stocks-nears-end-<br />
<br />
There is only one kind of people that I know is making money now: traders and momentum traders.....If you don't belong to this special breed, be very careful. You can loose your shirt minus your pants....yes....pants(plural).<br />
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Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-7417366406169637006.post-37596808930032644332015-05-03T21:30:00.002+08:002015-05-03T21:30:51.071+08:00Random thoughts on the marketsWaiting for major market corrections requires a lot of stamina. But I know if I give in now, I would really an idiot. Why?<br />
<br />
Look at this chart.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCu3-AbqIGdKEIGlJ0fTLXTjcXQJWDMF5cCdWgr48L37CSxaIKQkEnOehjNelIaj14MdPPhHR2gRQZ28XundFb5ksmVxMmOkFmPu6op3K5WzA-jvd2zcBJ35Gz4rInuVwTlgmzdq42GF4/s1600/snp.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCu3-AbqIGdKEIGlJ0fTLXTjcXQJWDMF5cCdWgr48L37CSxaIKQkEnOehjNelIaj14MdPPhHR2gRQZ28XundFb5ksmVxMmOkFmPu6op3K5WzA-jvd2zcBJ35Gz4rInuVwTlgmzdq42GF4/s1600/snp.JPG" height="161" width="320" /></a></div>
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S & P 500 is valued @ 21x PE ratio. Except the extreme bubble or of the chart during 2009 crisis, it is certainly at top of the valuation range. The median is 15 x. I always believe in reversion to mean.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh9bSvCkk50uE3PJ4DHP92xBxVkuhq7O3klKXfW_D1OK2qTW2Yeb1GpCvI5WVb3SM2xfnntn-sYjNYh_OFqbIvSsZ86qx34qfazmqGSg4sCxiMz_5J1RtJ1JJfboi367R1nl7I9bALfQY8/s1600/klci.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh9bSvCkk50uE3PJ4DHP92xBxVkuhq7O3klKXfW_D1OK2qTW2Yeb1GpCvI5WVb3SM2xfnntn-sYjNYh_OFqbIvSsZ86qx34qfazmqGSg4sCxiMz_5J1RtJ1JJfboi367R1nl7I9bALfQY8/s1600/klci.JPG" height="265" width="320" /></a></div>
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KLCI is selling for 17 PE ratio. Again it is above the long term valuation and also at the top of trading range. Corporate earnings have been dissapointing. </div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCFIFi3iiC04ZGwisyDnLwBsG5gSzSY_OZjvRRTFjFFsb9gDbij5CsQi9kAGXfAwyj8rhr3gg9DLA4oS2mdyF79yJuqWXSJl8Isauf3pI6DToOV5oam_BARznxHbFeSwITU7WocgiOiWA/s1600/shanghai.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCFIFi3iiC04ZGwisyDnLwBsG5gSzSY_OZjvRRTFjFFsb9gDbij5CsQi9kAGXfAwyj8rhr3gg9DLA4oS2mdyF79yJuqWXSJl8Isauf3pI6DToOV5oam_BARznxHbFeSwITU7WocgiOiWA/s1600/shanghai.JPG" height="208" width="320" /></a></div>
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My only market that I used to be bullish while the rest of the world keep saying China was about to implode due to property bubble, crashing economy and shadow banking. As time goes by, my convictions were proven right. China is heading towards managed landing. China stock market is getting very pricey, close to 20x PE.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjuOeqj1lCqy0Ewm24OQoDoiDdQFTdOPSVglFv62tEd9BL8vQ3YlTIeX32_xrWtAaYSActvI-0-Aq2AuQpPaIJyo5nXfqJhiywV7CU8M-qqgq3IjEC_kruESQAdPB_8lP3oyLQSiLgWjRM/s1600/china.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjuOeqj1lCqy0Ewm24OQoDoiDdQFTdOPSVglFv62tEd9BL8vQ3YlTIeX32_xrWtAaYSActvI-0-Aq2AuQpPaIJyo5nXfqJhiywV7CU8M-qqgq3IjEC_kruESQAdPB_8lP3oyLQSiLgWjRM/s1600/china.JPG" height="226" width="320" /></a></div>
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What is really worrisome the stock market is fuel by high school drop out and "da ma".<br />
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I don't think I am looking for the end of the world scenario but we certainly need a deep 20-30% corrections before the bull run can continue.<br />
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Please note that the cheap money is here to stay forever, is an illusion. Look the US unemployment is approaching full employment. It's close to 2006/2007 level.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhjGQmUUxBPshyMTWoL3oix0nf7D1FciiP51SNKrP2D-3vEL-LY2MsfA21fUdmBKI51WzGVorlJyzJsfEjV2oeyp49Hh_1b0_-bDh5g1tB_OJuLFKX7VFKN5H2tDcxYGJ2-DDLmRxBV_xE/s1600/us+unemployment.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhjGQmUUxBPshyMTWoL3oix0nf7D1FciiP51SNKrP2D-3vEL-LY2MsfA21fUdmBKI51WzGVorlJyzJsfEjV2oeyp49Hh_1b0_-bDh5g1tB_OJuLFKX7VFKN5H2tDcxYGJ2-DDLmRxBV_xE/s1600/us+unemployment.JPG" height="213" width="320" /></a></div>
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<br />
Yet the interest rate stays ZERO?<br />
<br />
No, it will not stay for long, at least not what 10 year treasury traders think. It starts to trend up.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvg_ISYvF6V4SJmBtLmdkop-CIbBCqlPq3ickCtnEQmIcp_3JuvZv70Biij9oG4DtouZi1yNU4r8TYCWkDTexsYnaDxep3sIDKefssLqktnZ0zsvF6vYSWgti6h33AO5xbBsMLR31tWgM/s1600/10Yr+treasury.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvg_ISYvF6V4SJmBtLmdkop-CIbBCqlPq3ickCtnEQmIcp_3JuvZv70Biij9oG4DtouZi1yNU4r8TYCWkDTexsYnaDxep3sIDKefssLqktnZ0zsvF6vYSWgti6h33AO5xbBsMLR31tWgM/s1600/10Yr+treasury.JPG" height="156" width="320" /></a></div>
To those who still swimming out there, just be careful. Just like Warren Buffett said: "A bull market is like sex. It feels best just before it ends."Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-7417366406169637006.post-36391423888261413462015-03-28T10:32:00.000+08:002015-03-28T10:34:49.620+08:00LKY......ThanksIt was strange that I feel sad for a man whom I never met. Have not really even really read one of his greatest trilogy writings. Have heard about younger generations of Singaporean ranting for wanting more freedoms. Certainly have seen a successful Singapore, feel safe walking any where you want and getting a lot things done very fast.<br />
<br />
If you want to know how much respect you got is what your people say about you when you are no longer around. Even Dr. M has something nice to say about him, in a personal way, Kuan Yew and I<br />
<br />
http://chedet.cc/?p=1620<br />
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What he has done inspired many third world countries to do the same. China was one of them. Deng Xiao Ping opened up China after a visit to Singapore. As a result of that, millions and millions of people were liberated from poverty. I am sure the world has also benefited from this multiplier effect.<br />
<br />
The greatest criticism on him was authoritarian style. Many have also abused by saying a country can achieve what Singapore had achieved if they sacrifice some of their freedom. In a real world, it is not so simple.<br />
<br />
I had a long walk this morning to think about this. My conclusion was, yes I don't mind to submit to a leader who is smart(1st class Cambridge graduate), a workaholics, 100% clean and like a candle that burning himself to light up the nation. That is why too, many tried the model, only a handful successful because some ingredients were missing. Thanks LKY.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhjDDcbnCBZ2CqVdjgJqNUa_i_5K_v4eJzG4xVzYgjmr74KZZTJqs05MBftBrxgUxdGQCE2tTuvEgdbUwj3rJQ_0sy8gH3xidYxlo-oWaQfEVQ1Yq7LQXMfoP05ekxVn4bDq2B-RtGCVLk/s1600/LKY.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhjDDcbnCBZ2CqVdjgJqNUa_i_5K_v4eJzG4xVzYgjmr74KZZTJqs05MBftBrxgUxdGQCE2tTuvEgdbUwj3rJQ_0sy8gH3xidYxlo-oWaQfEVQ1Yq7LQXMfoP05ekxVn4bDq2B-RtGCVLk/s1600/LKY.png" height="184" width="320" /></a></div>
Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-7417366406169637006.post-68366245689961592372015-02-23T22:34:00.000+08:002015-02-23T22:34:25.225+08:00Ringgit to USD Chart ...... pray it does not breakout @ MY 3.70 !<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjb0EdQSJXtjVHPR-fLprqFH_kjjVUXrad6M3j3svuy33w82EuwRjiDbeYH7n6SEM70MCYhQZ1Vs7zRbHTZZ4ZdF7ZZ6hTTnwedtQbmZA48zAthfVqhnbmhv18bBWWrzoz4YBzPjkPMJZg/s1600/MYR=USD.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjb0EdQSJXtjVHPR-fLprqFH_kjjVUXrad6M3j3svuy33w82EuwRjiDbeYH7n6SEM70MCYhQZ1Vs7zRbHTZZ4ZdF7ZZ6hTTnwedtQbmZA48zAthfVqhnbmhv18bBWWrzoz4YBzPjkPMJZg/s1600/MYR=USD.png" height="472" width="640" /></a></div>
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MYR closed at 3.64 against USD today. It's getting very close to 2009 level.<br />
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We may think that USD is universally getting stronger against a lot of currencies but look this. I do not want to show SGD here because we always have something to say that they are a well managed country. Let's compare to Thailand.....Geez......holidaying in Thailand seems to get much more expensive.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCqHL6-lLKbeE8T9ChJnM_oooHuQ4wU1Dlt_QPxQo2avdpOtbcY0dcfPPmJn7mGjRhyClGU5P8yr-QbiTIafWETxyqiwGKuMNSERG-FRF7lmeQOND7upUceIjjJhDkBDLTqgN-Hunrko8/s1600/THB+MYR.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCqHL6-lLKbeE8T9ChJnM_oooHuQ4wU1Dlt_QPxQo2avdpOtbcY0dcfPPmJn7mGjRhyClGU5P8yr-QbiTIafWETxyqiwGKuMNSERG-FRF7lmeQOND7upUceIjjJhDkBDLTqgN-Hunrko8/s1600/THB+MYR.png" height="488" width="640" /></a></div>
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I don't think Ringgit depreciation is driven by poor sentiments or uncertainty caused by 1MDB alone. First almost default on RM 2 billion loand and now rumors are swirling of RM 3 billion cash injection needed.<br />
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http://www.themalaysianinsider.com/business/article/ringgit-under-pressure-over-1mdb-debt<br />
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Something is wrong!<br />
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But at the same time, things seem to be quite calm in the bond markets.<br />
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Our 10 year yield is still quite stable and I do hope things will be under control. The movement so far has been in locked steps with US 10 year bond yield though there were some spikes that quickly brought back under control.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-qE6FkaQR7fURGT3ntgSeXJxVpbEzSRvx1QOmY151MMpKU8dAq5zm9F7vIMfYjOJAoOC0lXrKbo5ZH1ZVVz29NqwFH0y5jgc3RSvebenVhQvLXVC3DznM24z8BAThGE1Yz5mKDWY__uE/s1600/Malaysia_10_yield.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-qE6FkaQR7fURGT3ntgSeXJxVpbEzSRvx1QOmY151MMpKU8dAq5zm9F7vIMfYjOJAoOC0lXrKbo5ZH1ZVVz29NqwFH0y5jgc3RSvebenVhQvLXVC3DznM24z8BAThGE1Yz5mKDWY__uE/s1600/Malaysia_10_yield.png" height="210" width="400" /></a></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiNqA7iMytdYdMwvgailTNi9bkx8S-qlVax1kwU5uA4cZBq8BzK7Il37YAJHFOD0VgCEM0IcSc_7-Y7Zz7tOXCA9SoVaEgU7hI59v-MroITm_4yWbM841hdGJi_dEa9AxarNmvwykon_bQ/s1600/10_Compare+to+US.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiNqA7iMytdYdMwvgailTNi9bkx8S-qlVax1kwU5uA4cZBq8BzK7Il37YAJHFOD0VgCEM0IcSc_7-Y7Zz7tOXCA9SoVaEgU7hI59v-MroITm_4yWbM841hdGJi_dEa9AxarNmvwykon_bQ/s1600/10_Compare+to+US.png" height="212" width="400" /></a></div>
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http://www.tradingeconomics.com/malaysia/government-bond-yield<br />
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The divergent is building up. It's really time to be vigilant.<br />
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<br />Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-7417366406169637006.post-47902980637202386862015-02-18T22:51:00.000+08:002015-02-19T11:16:14.778+08:00Spring Cleaning.........Welcoming Goat YearAha.........the good news is I have finally done spring cleaning my house. When I was young, I remembered we all would gathered at grandma house turning her house upside down to make it sparkling clean. We would repaired leaked roof and repainted the gate. Then welcomed a new year.<br />
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During those days, it were really special occasions that we get to eat chicken and receiving red packets. </div>
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During those days, red packets were more symbolic gesture of love than money.</div>
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The situation is quite different nowadays - the tradition is either disappeared fast or hard laborers of love replaced by maids......sigh.......The situation has also changed due to much smaller family size. In my case, I ended up doing most of the works(without maids).</div>
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I finally reached the last and my favorite place today -- my store....it's a place that we tend to throwing in our stuffs or keeping our stuffs promise to deal with it. It's kind of writing IOU. Unfortunately we usually default on our IOU - don't make good on our promises. I finally resolute to make good of my spring cleaning. </div>
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I found there were many things that obsoleted, I mean technologically....So I finally made up my minds to get rid of the ADSL modems as we had transitioned to Unifi. I found copies and copies of old annual reports and also warranty cards that more than 5 years old. Sorry, those were also finally ended up in a big rubbish bag.</div>
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I also had something I really wanted to keep such as this old mobile phone which is more than 17 years old.....Not too sure it will worth a lot of money if I keep it for another 17 years old.</div>
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<img src="http://www.mobighar.com/review/nokia_6130_old_mobile_phone_full_review_specifications-(mobighar.com).jpg" /></div>
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I also have a prized 17" Macbook Pro that was 12 years old. The screen was not in working conditions but it was still one of those stuffs that I wish keep.</div>
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<img alt="Apple MacBook Pro 17in" src="http://static.trustedreviews.com/94/c68d2e/dc65_orh348w620/6094-IMG0114s.jpg" /></div>
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Fortunately for me this year, when come to investment portfolio, I don't have to work very hard. It looks pretty clean because most of them are in cash or really long term investment that I don't intend to sell even during the next bear markets. Despite of high cash position, I still have no intention to re-balance it by moving some of cash to equities or other assets. It is not so fun though seeing strong markets rebound from sharply oversold markets in December 2014. I keep reminding myself everyday that it is better to have lower return from risk free investment than making a negative return by making wrong moves at the wrong time. </div>
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Wishing everyone a happy Chinese New Year. May the year of goat brings lots of good lucks, good health and good fortunes.</div>
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<img alt="Image result for goat year picture" src="https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcQnJEXRkCKCGWBLyCJ5Ybddnz8mRgHWZbDMvbtRP_1a9RG4th4F" /></div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7417366406169637006.post-26616559996900522912015-01-04T01:01:00.000+08:002015-01-04T01:01:41.950+08:00Are you(Am I) prepared to retire?You might find it weird that I post about the subject as my first posting of 2015. No particular reasons just that after taking a long break, I want to get more clarity what exactly is retirement.<br />
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I am bored and tired of the same old, same old text book writings or advice about retirement. It's always about money, money and money. We all will be blasted of not having enough money to retire. We will run out of EPF money within 30 months and etc. Therefore, starts with PRS and so on.<br />
<br />
What make me feel even more sick is whole bunch of these people who are advising other people about retirement, are people who never experiencing retirement themselves. They just copy and paste from textbook without serious efforts of getting primary or secondary research.<br />
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Money matters aside, I think there are some other big pieces of puzzles are missing. Let's warm up with simple questions like What exactly retirees do? We all dream of retiring, Yes? What would you(I) want to do with this new found freedom? Or suddenly turn ourselves into "billionaires" of time?<br />
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Before I go on, I have a qualifier: I have never experience retirement myself too. The subject pops up is just to provoke myself to kind of thinking through about retirement. Hopefully, I have sufficient clarity before I really decided to retire. After I started to make this entry I found out reality(facts) and imagined retirement(myths) could be two very different animals. I don't want to just focus on the financial preparation alone but also thinking through how am I going to live until the day I going back to see the Lord!<br />
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I have a hard time to think how are we going to fill our new found 16 hours(24 minus 8 hours sleep) for the next 15 to 40 years. One-Five is a long time, Four-Zero is closer to eternity. Looking back, during my career, I have quite a number of events that break my monotony. Most of the challenges are forced by changing business or personal environments. Living for next One-Five and Four-Zero years doing the same thing(or no idea of doing anything) is quite a scary thought to me. I have more to comment on this later.<br />
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An ideal retirement according to our imaginations or told by people are(my comments are in red color):<br />
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# 1 - Spend more time with the loved one. <span style="color: red;">Be careful of what you wish for. You might find out the more time you have with your loved one ended up with more quarrels. You may ended up finding more ugly sides of yourself or loved one.</span><br />
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# 2 - Travel around the world. <span style="color: red;">Each trip may last you 3 days to 15 days, what are you going to do with the rest of 350 to 362 days, not to mention the depletion in your saving account?</span><br />
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# 3 - Improve your home. <span style="color: red;">Sounds reasonable. Repair here and there, do a bit of gardening, vacuum and shine the whole house. Technically we have just found ourselves a full time job coming out from retirement.</span><br />
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# 4 - Community service. <span style="color: red;">Spend more time in the church, temple, mosque, etc......volunteer ourselves. It's a noble inspiration. But....a big BUT. Are you ready for public service? Public service can mean it's a thankless job. A candle burning itself? Not everyone has that calling. </span><br />
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# 5 - Learn something new. <span style="color: red;">Yea.....great idea. Do it today! If you can't do it today means you won't do it when you're retired.</span><br />
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# 6 - Execise. <span style="color: red;">This is another no brainer. What is preventing you exercise today? Kick your butt and get the fuck out of couch watching the TV, surfing Internet, etc.....Just do it!</span><br />
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# 7 - Reward yourself. <span style="color: red;"> Draw up a bucket list....like climb Mount Everest, buy a xxx car, drink that xxx wine, switch to xxx brand clothing. </span><span style="color: red;">Nice in theory.</span><br />
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The list can be endless.........on those so called retirement dreams.<br />
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In reality, these are more likely.<br />
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# 1 - Sleeping. <span style="color: red;">When you are inactive, the tendency of sleeping or taking naps are high. </span><br />
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# 2 - Watching TV. <span style="color: red;">Most likely you will spend about 4 - 5 hours daily watching TV.</span><br />
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# 3 - Surfing the internet. <span style="color: red;">Facebook, gossips, blogging, and etc.....</span><br />
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# 4 - Eating. <span style="color: red;">In an unhurried life, we tend to spend more time to prepare food and also eat more slowing. Some may even travel miles and miles to find things to eat.</span><br />
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# 5 - Shopping. <span style="color: red;">Like teenagers with so much time at their disposal. They ended up with lots of window shopping. </span><br />
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# 6 - Reading. <span style="color: red;">Yea, I think most people will try to read from cover to cover with a few cups of coffee.</span><br />
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# 7 - Socializing. <span style="color: red;">Personally I don't have that many friends. So I am not so sure about this. Again, talking to the same friend over and over again for next 15 to 40 years is kind of weird and scary.</span><br />
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You may start to protest and demanding the punch line. What are you trying to say?<br />
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Do you have any aspirations when you quit your full time job(voluntarily or by forced)?<br />
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Before we talk about aspirations, let me share my views of what my retirement certainly <span style="background-color: cyan;">SHOULDN'T</span> be:<br />
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<li><span style="color: purple;">Running away from the world. We shall never alienated ourselves to a monastery to be monks or nuns(unless you strongly feeling that you have the calling).</span></li>
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<li><span style="color: purple;">Downgrade ourselves to become manual laborers - butler, driver or housemaid.</span></li>
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<li><span style="color: purple;">When time turning from a friend into an enemy. Getting ourselves into trouble of developing clinical depression that leads to all kind of other problems - alcoholism, womanizing, popping blue pills or all kind of escapism.</span></li>
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<li><span style="color: purple;">Wasting time endlessly gossiping about people, politics or any other special topics, stocks. Yes, especially the last one is dangerous because thoughts will eventually trigger action.</span></li>
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<li><span style="color: purple;">Mechanical programs that sold by imaginary successful retirement like go round the world, fulfilling exotic bucket list wishes, play golf, etc..... </span></li>
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<li><span style="color: purple;">Volunteer ourselves to do community works just because we have nothing better to do.</span></li>
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<li><span style="color: purple;">Turning ourselves for next half our life into somebody who are worse off than our first half of our life. Why should l sleep more than it should be? Why shall I spend more time on a couch? Why should I allow my physical and mental sharpness to deteriorate?</span></li>
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<li><span style="color: purple;">Preparing our funeral.</span></li>
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P.S. My postings will be infrequent until market valuations improved or I might write additional follow up thoughts on this topic.<br />
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Happy New Year 2015!<br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7417366406169637006.post-5872654225640599242014-12-31T12:41:00.002+08:002014-12-31T19:17:52.997+08:00Wrapping Up 2014 - Turtle PortfolioIt's this time of the year again, that most people will be heading to shopping malls, restaurants or bars to celebrate the closing of 2014 and welcoming 2015.<br />
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For me, it's time to stay at home and do nothing. My private lifestyle and investment philosophy are identical. I hate crowds. For most people silence is very frightening. They felt that they can't breathe, as if they are trapped in a bottle sealed with vacuum. It is the opposite for me, noises from the crowds will make me feel that I am trapped in a drum with somebody drumming so hard trying to burst my eardrums and head.</div>
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For most people, inactive is only for birds(small brains). They think they got to beat the index. Or only idiots will stick with risk free investment. Sitting still makes them feel that they are trapped in a vacuum bottle. They just can't breathe.</div>
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Turtle Investor Portfolio on the overall is very cash rich. It has risen to RM 79 k or 95% cash. Return on capital was RM 11 k or 15%(CAGR of 3.25%). With so much cash on hand, it will be very handy during bears hunting seasons. I am getting more excited because the bull market is getting older and older each day.</div>
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In 2014, I bought only 1 stock for Turtleinvestor portfolio, CIMBA50. It's an ETF that has exposure to China Stock market, it has risen by 25%. Though the exposure was small, I was happy because of my strong convictions about China was vindicated.</div>
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Did I regret for not able to much move cash in 2014 ? Absolutely not, on the contrary I felt the opposite way. I feel rewarded for doing nothing. KLCI closed at 1852 on first trading day of 2014 and as I making an entry, KLCI is around 1766 or minus 4.6% return. If we look at individual stocks, losses could be even more glaring for those who had bought stocks this year. </div>
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Even some regarded as safe stocks like Petronas Dagangan which many regarded it has many Buffett-like qualities company falling like a hot knife piercing through butter, with many bleeding hands. For those think valuation does not matter, think again. They must be licking their wounds quietly defending themselves as long term investors. I bet if the price were to drop another 20-25%, these long term investors will be selling out like nobody business, then then call themselves traders who are cutting losses.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDd_08rr2mjvYYnKGtYUun5epHDD4_RErcLvfgTs5dtA1SeN3yshQ4IRLn8be5ewWU4DhAIL2cC9SRmmK301HwtfqKRCKAvTfnZIHc0bYysSUQf_vYmUpBZfzswuFFvVbwsENCvx3avqM/s1600/Pet_Dag.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDd_08rr2mjvYYnKGtYUun5epHDD4_RErcLvfgTs5dtA1SeN3yshQ4IRLn8be5ewWU4DhAIL2cC9SRmmK301HwtfqKRCKAvTfnZIHc0bYysSUQf_vYmUpBZfzswuFFvVbwsENCvx3avqM/s1600/Pet_Dag.png" height="211" width="400" /></a></div>
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I suddenly found many people feel their brains turbo-charged to IQ 180 talking about Black Swans. Nobody ever foresee that crude oil price can collapse in 2014. They can draw all kind of trend lines and all kind of technical indicators but when the trend reverse, gravity rules breaking so many ribs in a short time. If we don't respect random walks of markets, let's be more humble.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsYIU2tPoEHsUK79ez9hYdELBt8MNPwXQQmVDrVGsab69LgSr02dPOCzXqDdkPShk0vZDzsu614iazwcz9uyLWIKxFyLKSIEsC_eKz3niuAM3CPVh-UhSxfAoW1i92bMD_PpIaBHWqmCM/s1600/crude_oil_price.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsYIU2tPoEHsUK79ez9hYdELBt8MNPwXQQmVDrVGsab69LgSr02dPOCzXqDdkPShk0vZDzsu614iazwcz9uyLWIKxFyLKSIEsC_eKz3niuAM3CPVh-UhSxfAoW1i92bMD_PpIaBHWqmCM/s1600/crude_oil_price.png" height="310" width="320" /></a></div>
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Even the bluest of blue chip oil and gas stock can free fall.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhNRNhbXebGH5y2T0N7ZWcu1_VMR8m5wE-YhkQa_4Fpb-lSaAuudf6VRHkQqXVkHFN_bPUv1U81o3il3OapOQV1XGWyo7f6qB5NjqFUrL_hv1m2WnDLrRzA9FI2N6KQPaJRmBTPfxbQIiM/s1600/SKPetro.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhNRNhbXebGH5y2T0N7ZWcu1_VMR8m5wE-YhkQa_4Fpb-lSaAuudf6VRHkQqXVkHFN_bPUv1U81o3il3OapOQV1XGWyo7f6qB5NjqFUrL_hv1m2WnDLrRzA9FI2N6KQPaJRmBTPfxbQIiM/s1600/SKPetro.png" height="203" width="400" /></a></div>
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Let me show you another chart, our Finance sector is the process of making a downtrend and essentially it will drag KLCI lower. Over the last few years, the loan growth had been going into unproductive area such as cars and funding after ever rising housing prices. May be some will still argue that we have 83% household debt to GDP but we are also been backed by solid assets, let's not get too negatives. Just consider this, even I am sold with the arguments of many experts justified reasoning of no housing bubbles but it is also a sure sign of people have maxed out their credit. For this reason alone, we ought to leave our mind open that housing prices can reverse direction.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEji14e3WCzj-vtOP0mA3GLuVkLRAG4jbZRnqKJHydgCheF0raE71mJ11M1xwx0jOmT1-l1d1dWLenzmbtzAci1v2-12RTxHbjvTV1dW-L2gn0bKYiNQHzXFmpv6LA6HzZz6n8pEgfSYPZk/s1600/Finance.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEji14e3WCzj-vtOP0mA3GLuVkLRAG4jbZRnqKJHydgCheF0raE71mJ11M1xwx0jOmT1-l1d1dWLenzmbtzAci1v2-12RTxHbjvTV1dW-L2gn0bKYiNQHzXFmpv6LA6HzZz6n8pEgfSYPZk/s1600/Finance.png" height="216" width="400" /></a></div>
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Please don't get me wrong. I am not in the mood of bashing or spreading bearish views.</div>
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Rather, I find the wisdom of Warren Buffett is more apparent as time goes by.</div>
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Rule # 1 don't lose money.</div>
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Rule # 2 Refer to Rule # 1.</div>
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I find the witty side of Buffett's new wisdom, Virginity can only be preserved and cannot be restored. So???? Don't get fuck by the markets. </div>
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My posting will continue to be infrequent until market valuations are getting more attractive. </div>
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Until then, Happy New Year!</div>
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Unknownnoreply@blogger.com9tag:blogger.com,1999:blog-7417366406169637006.post-19844238765739384662014-11-09T16:57:00.001+08:002014-11-09T17:02:33.286+08:00Kopi O vs. LatteThe Star<br />
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We say white coffee, you say latte</h2>
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<strong style="border: none; color: #444444; font-family: Arial, Tahoma, Helvetica, sans-serif; font-size: 17px; line-height: 25px; margin: 0px; padding: 0px; text-align: center;">Fingers are again pointing at youths’ lifestyle for their high rate of debt and bankruptcy. But young people are saying it is a generation gap.</strong></h2>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikjhWm1LYFrJkcgj4Nalpt8KWcjT-OSeE5OSxNhQwOlIkH2rfhUXAGmCaMBnnZlLlimSI7FzQeSsHY4QlYO_2aJfbOqNrvFCvRvmEc-acWW1QFRhJl-AgNiSW3JV1jzAQxSEtBbK9eXNc/s1600/brokeyouth.jpg" imageanchor="1" style="background-color: transparent; margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikjhWm1LYFrJkcgj4Nalpt8KWcjT-OSeE5OSxNhQwOlIkH2rfhUXAGmCaMBnnZlLlimSI7FzQeSsHY4QlYO_2aJfbOqNrvFCvRvmEc-acWW1QFRhJl-AgNiSW3JV1jzAQxSEtBbK9eXNc/s1600/brokeyouth.jpg" height="218" width="400" /></a></h2>
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You may read the whole article at </div>
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http://www.thestar.com.my/News/Nation/2014/11/09/We-say-white-coffee-you-say-latte-Fingers-are-again-pointing-at-youths-lifestyle-for-their-high-rate/</div>
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So "old" men/women say "Hey Big Spender". Young men or women shouted back "you don't understand". You take bus. Use dumb phone. They screamed "be reasonable".</div>
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If we look at the current developments around the world, the income disparities is certainly an issue. Malaysia is no exception. Those in middle 40% income growth is certainly not doing better. The income growth is certainly slow.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjEpcVQb4Mxo5-3ftjZiRjtCmnD6O9ifVclmlyTEva9OKf3epS5EsHwMNrsWbQfJlkeF9sO4gHYGNe00iQOO9Oi9CGiUdN4y1rOQCJtjxFsKEhPFzS0zlvXQT3vTuTfb-D3PWD36arj0IQ/s1600/0523-im-widening-income-disparities-in-malaysia.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjEpcVQb4Mxo5-3ftjZiRjtCmnD6O9ifVclmlyTEva9OKf3epS5EsHwMNrsWbQfJlkeF9sO4gHYGNe00iQOO9Oi9CGiUdN4y1rOQCJtjxFsKEhPFzS0zlvXQT3vTuTfb-D3PWD36arj0IQ/s1600/0523-im-widening-income-disparities-in-malaysia.gif" height="312" width="400" /></a></div>
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Each year, we produce about 180,000 graduates and close to 40% of them(public university) are either jobless or stuck in mismatched fields. http://www.thestar.com.my/News/Community/2013/07/27/Close-to-half-of-Malaysian-graduates-either-jobless-or-employed-in-mismatched-fields/</div>
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We are also caught in a vicious circle due to lack of quality graduates causing us to get stuck with middle income trap. So a fresh graduate may be ended up earning around RM 2,500 to RM 3,000/month. So there is a truth of Gen Y claims that today's employer pay them peanuts.</div>
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If income growth is slow or stagnant, we do have a major issue especially they have to battle with high costs of living. I will not dwell into details of big picture how central bankers around the world had contributed to this problem. Just to mention briefly that loose monetary policies, bankers greed and lack of government supervision created the messes and bubbles that resulted the world is going through tremendous adjustments. </div>
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Is car a necessity? Is smartphone a necessity? Short answer is Yes. Given such a screw up public transportation in Malaysia, it is impossible to move around. Is smartphone a necessity? Yes, there is not much different between a dumb phone and a smart phone. Speed is a must in today's society. Hence, to be reachable and stay connected is a must.</div>
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Then the argument of Kopi O and Latte. Is is wrong that Gen Y hangs around Starbuck for RM 15/cup of coffee? My view, if it is a social gathering, 3 to 4 times a month should not kill you.</div>
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So Gen Y reader may feel better because that sounds like at least this Gen X writer understand what is Gen Y is going through. However, before you hit recommended or thinking to send it to you father or mother, please read on. </div>
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The question is why youth ended up with bankruptcy? Or what are the ramifications of a bankrupt? There are 34 FAQs that everyone should know. I think the law is a bit strict in Malaysia. For not able to pay RM 30 k can end up with bankruptcy is truly not worth it.</div>
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<div style="background: linear-gradient(rgb(250, 250, 250) 0%, rgb(245, 245, 245) 100%) rgb(255, 255, 255); border-bottom-left-radius: 5px; border-bottom-right-radius: 5px; border-top-left-radius: 5px; border-top-right-radius: 5px; border: 1px solid rgb(221, 221, 221); box-shadow: rgb(255, 255, 255) 0px 1px 0px inset; color: #f16d1a; cursor: pointer; font-family: 'Trebuchet MS', Verdana, Arial, sans-serif; line-height: 18px; margin: 0px 0px 10px; padding: 7px; text-shadow: rgb(255, 255, 255) 0px 1px 0px;">
<strong>1. Can a bankrupt continue using his existing credit card?</strong></div>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">A bankrupt can only use his existing credit card up to the amount of RM1000.00. If the bankrupt wishes to continue using his credit card for an amount of more than RM1000.00, he must notify the issuing bank or finance company as to the status of his bankruptcy so as to allow them to decide whether they are prepared to continue to extend the credit to the bankrupt. If the bankrupt fails to notify the issuing bank or finance company, he will be deemed to have committed an offence under the Bankruptcy Act 1967.</span></div>
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<strong>2. Can a bankrupt make an application to DGI to reduce the amount of debt?</strong></div>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">The DGI has a duty to supervise the conduct of a debtor and to administer the debtor's estate. However, DGI has no power to reduce the amount of debt that has been filed by creditors. If a bankrupt intends to reduce the amount of debt for the purpose of making full settlement, he should write in or meet the officer at the particular Bank stating his intention to do so. In the event the Bank agrees to lower the amount of debt, he has to make payment in the specified amount to DGI. We will then proceed to declare the dividend to creditors.</span></div>
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<strong>3. Can a bankrupt make direct payment to the creditor to settle his debt?</strong></div>
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A bankrupt is not allowed to make direct payment to the creditor and all payment has to be made through the DGI. The payment will be credited into the estate account and distributed to the creditors who have filed in Proof of Debt.</div>
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<strong>4. Can a bankrupt open a bank account or continue using his existing account?</strong></div>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Once person is made a bankrupt, his existing account shall be deactivated and withdrawal of money would be debarred. A bankrupt, however, may open a bank account or continue using his existing account for reasons such as crediting his salary or any profit gained provided he obtains the permission of the DGI. He would then have to make an application for permission of DGI for reactivation of the account.</span></div>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">The application to obtain the DGI's permission in both cases shall be made to the respective MdI branch, where his bankruptcy case is being administered.</span></div>
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<strong>5. Can a bankrupt transfer his property?</strong></div>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">A bankrupt is not allowed to transfer his property to a third party once a Receiving and Adjudication Order has been entered against him. As soon as a person is declared bankrupt, any of his property shall be automatically vested upon the DGI.</span></div>
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<strong>6. Can a bankrupt travel overseas?</strong></div>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">A bankrupt may not travel overseas unless with the written permission from the DGI or after obtaining a court order allowing him to do so. In order to get a written permission from the DGI, a bankrupt has to make an application by stating his intention, reasons and duration of travelling. The application form with supporting documents must be sent to the Branch that administers his. Our dedicated officers will process the application and will inform the bankrupt on the decision of his application via his preferred mode i.e e-mail, phone call or letter. The application can be downloaded in our website under 'Forms' link.</span></div>
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<strong>7. Can a person declare himself/herself a bankrupt if he is unable to pay his debts?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">A person can make an application in court to declare himself/herself a bankrupt as allowed under section 7, Bankruptcy Act 1967. The person is required to file a petition in a High Court stating his inability to pay his debt. The procedures required to be followed are stated specifically in the Bankruptcy Act 1967 and Rules, and one can consult a solicitor to take further actions. For further information, one can contact the nearest MdI's branch for advice or MdI's Complaints Unit directly.</span></h3>
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<strong>8. Can I remain as director of a company if I have been made a bankrupt?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">An undischarged bankrupt is disqualified from acting as a director of a company pursuant to the Companies Act. If a bankrupt wishes to act as a director of a company, he/she must seek the approval of the DGI or grant of leave from the Court.</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">It is also important to note that except with the permission of the DGI or Court, a bankrupt is not allowed to:</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(a) work in the business of a spouse, children or relative; </span><span style="color: #444444; font-size: 12px; line-height: 20px;">and</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(b) enter or carry on any business, either alone or in partnership.</span></h3>
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<strong>9. Can my parents who are bankrupts visit me in other country?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Travelling abroad is allowed only with the permission of the DGI who has been entrusted with the discretion by law. The primary purpose is to ensure all bankrupts give their utmost priority to payment of debts. That is the reason why social visit is strongly prohibited because it is assumed that such money should be used for the purpose of paying the debt. Factors such as good cooperation, compliance to rules and obligation, initiative to settle debt are utmost important in determining whether a bankrupt is allowed to travel overseas or otherwise. All documents relating to travelling overseas can be obtained in our website under 'Forms' link.</span></h3>
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<strong>10. Can the Department of Insolvency (MdI) make a person bankrupt?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">MdI does not make people bankrupt. As aforementioned, a person is made bankrupt by a court order either by an application by a creditor, or by his own application. Once a bankruptcy order is made by the court, the DGI in law will become the administrator of his estate and also to oversee his conduct towards an effective completion of his bankruptcy.</span></h3>
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<strong>11. Do my creditors have a right to seize my properties after I have been made a bankrupt?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">As a bankrupt, your assets vest in the DGI. Creditors can take no further legal proceedings against you to recover any debts incurred before your bankruptcy. Nevertheless, a secured creditor may seize and realize your property. The proceed of the sale will be used for paying off your debt, in some cases where there are balance money after paying off the debt, it will be returned back to DGI to be credited back into the estate account of the bankrupt.</span></h3>
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<strong>12. How can a bankrupt be released from his bankruptcy status?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">There are three main ways as to how a bankrupt can have his bankruptcy terminated:</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(a) Making an application in court at any time for the bankruptcy order to be annulled on grounds </span><span style="color: #444444; font-size: 12px; line-height: 20px;">ie debt has been paid in full or that he ought not to be made a bankrupt on some technical </span><span style="color: #444444; font-size: 12px; line-height: 20px;">grounds;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(b) Making an application in court at any time for a court discharge. This is subject to a stringent </span><span style="color: #444444; font-size: 12px; line-height: 20px;">requirement and the Insolvency Department has to put a report emphasizing among others the </span><span style="color: #444444; font-size: 12px; line-height: 20px;">conduct and cooperation of the bankrupt with the department. </span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(c) Making an application to the DGI for a discharge under section 33A of Bankruptcy Act 1967. Such </span><span style="color: #444444; font-size: 12px; line-height: 20px;">application can only be made only if 5 years has lapsed from the date order was made upon </span><span style="color: #444444; font-size: 12px; line-height: 20px;">satisfying some criteria imposed by the DGI for the exercise of his discretion. Among the factors </span><span style="color: #444444; font-size: 12px; line-height: 20px;">that the DGI will take into consideration are the conduct of the bankrupt, the extent of his </span><span style="color: #444444; font-size: 12px; line-height: 20px;">cooperation with us, the cause for bankruptcy, old age and infirmities etc.</span></h3>
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<strong>13. How can I be made a bankrupt? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">You can only be made a bankrupt by a court order. Nevertheless, there are two methods in which the court order may be granted i.e. either by a creditor commencing a bankruptcy proceeding against you by presenting a creditor's petition in court, or you may also voluntarily seek a court order to be made a bankrupt by presenting a debtor's petition in court.</span></h3>
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<strong>14. How do I conduct bankruptcy search? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">You may conduct an online search at our website www.insolvensi.gov.my under the 'Services' link. A fee of RM12.00 will be charged to your credit card. Please note that payment must be done via credit card only. Another method is via counter in our Headquarters Putrajaya. A fee of RM10.00 is payable via cash. You will receive the bankruptcy search result within 15 minutes.</span></h3>
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<strong>15. How does my bankruptcy affect my current or future employment?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Bankruptcy does not prevent you from working. Nevertheless, a bankrupt working in other sectors should check whether there is any stipulation of such in his/her employment contract or other company documents. Please refer to 'RESTRICTIONS ON BANKRUPT'.</span></h3>
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<strong>16. If I am Director of a company or a Partner in a firm and I’m adjudged a bankrupt, would it affect my position and role in the company or firm? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">In such circumstances, if you wish to proceed to be in control of the management, you must seek the DGI's permission or you may obtain the court's permission. If after been declared a bankrupt and you accept an offer of such position, similar requirement applies:</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(a) A bankrupt is not allowed to enter into or carry on any business either alone or in partnership, or </span><span style="color: #444444; font-size: 12px; line-height: 20px;">become a director of any company or take part in the management of any company except with </span><span style="color: #444444; font-size: 12px; line-height: 20px;">the permission of the Director General of Insolvency (DGI) or court. </span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(b) A bankrupt is not allowed to work in the business of a relative except with the permission of the DGI </span><span style="color: #444444; font-size: 12px; line-height: 20px;">or court.</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(c) A bankrupt working in other sectors shall be subject to the terms and condition stipulated in his/her </span><span style="color: #444444; font-size: 12px; line-height: 20px;">employment contract and the laws related to that professions.</span></h3>
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<strong>17. Is there a minimum amount owed for a person to be a bankrupt? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Yes, the creditor may file for bankruptcy action against you if the debt owing is more than RM 30,000.</span></h3>
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<strong>18. Is there a possibility a person can be declared bankrupt without his knowledge? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Yes, a person could be made a bankrupt without him knowing it. This may be due to the legal document is sent to his old address; he does not update his address; does not reach him, doesn't read newspaper if the document is served by a substituted service procedure, he did not turn up in court, he doesn't bother to accept or open any legal document sent to him at his address. </span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">As to the said procedure of notifying the judgment debtor, there are rules and procedures to be followed in varied situations. Generally, all service of court documents to make a debtor bankrupt must be personally served. For this, most creditors will rely on the most recent address in their record. This will be very much depending on the borrower or guarantor to update the particular detail. In most cases, it is shown that they failed to locate and served those people. </span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">In that situation the law allows creditor to serve using what is called a substitute service procedure i.e by advertising in the papers and after certain days, the debtor or guarantor is deemed to have received the notification of bankruptcy.</span></h3>
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<strong>19. Is there an automatic discharge for a bankrupt? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">There is no automatic discharge of a bankrupt in Malaysia laws, irrespective of age. </span><span style="color: #444444; font-size: 12px; line-height: 20px;">Only bankrupt with a good conduct can be considered for a discharge. </span><span style="color: #444444; font-size: 12px; line-height: 20px;">Good conduct means:</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(a) Good co-operation as and when required by any officer of MdI; </span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(b) Upon being adjudged a bankrupt, he will attend to the MdI's office immediately when required to do so;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(c) Have submitted a complete Statement of Affairs within a stipulated time given by MdI;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(d) Regularity in making payments or monthly contribution;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(e) Compliance with the DGI's and Court order;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(f) Compliance with all the restrictions under section 38 of Bankruptcy Act 1967;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(g) Submitting an Income and Expenditure Statements every six months;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(h) Informing the Department of any changes of address and income;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(i) Did not make any direct payment to the creditors; and</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(j) Declaration of dividend</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">DGI has discretion to discharge a bankrupt based on certain specific factors but must also be accompanied with factor of good conduct. The factors are:</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">· health problem/prolong illness (supported by medical report); </span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">· too old (70 years old and above); and</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">· case administration exceed 5 years. </span><span style="color: #444444; font-size: 12px; line-height: 20px;">However, the bankrupt must have shown a good conduct prior to the suffering/ illness.</span></h3>
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<strong>20. Once I’m declared as a bankrupt by the Court, will my other secured or unsecured creditors have the power to deal with my properties?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Generally, once you're declared as a bankrupt, all properties vest in the DGI. Nevertheless, a secured creditor may deal with your property under section 8(2) of the Bankruptcy Act whereby such property will be realized within 6 months from the date where a Receiving Order. In cases of unsecured creditors, they have no power to deal with your property and if any unsecured creditor intends to proceed with any legal action against you, it may only be commenced with the leave of the court. Apart from filing a suit against you, unsecured creditors should file their Proof of Debt.</span></h3>
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<strong>21. Since I need the permission of DGI to continue my existing job or for future employment, what steps shall I take to obtain such permission?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">You must forward a written application to the DGI through any MdI branch where your case is being administered. Please take note that together with your letter, you must attach a copy of all relevant documents to support your application such as, a letter confirming your current employment of future recruitment, list of your job scope within the organization, pay slip and an official company search of your organization. </span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">If the DGI decides to grant you the permission, he may impose conditions as he thinks fit. You must remember that it is compulsory for you to comply with all the conditions notified to you as failure of compliance will subject you to contempt of court, punishable with imprisonment.</span></h3>
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<strong>22. Since I’m a bankrupt, what will happen to my property? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">All properties shall vest on the DGI except for those listed under section 48(1)(a)(ii) of the Bankruptcy Act 1967. This includes the tools of his trade and the necessary wearing apparel and bedding and other like necessaries of himself, his wife and children to a value not exceeding RM 5,000.00 in the whole. All your properties which are vested on the DGI will be sold and when completed, the proceeds shall be distributed amongst creditors.</span></h3>
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<strong>23. What are the disqualifications of a bankrupt?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Upon the adjudication, the bankrupt is disqualified from:</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(a) holding the office of a Member of Parliament;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(b) holding public office;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(c) holding certain positions in statutory bodies, registered societies or organizations;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(d) practising in certain professions;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(e) carrying on business alone or in partnership or by way of a company;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(f) working in the business of a relative;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(g) maintaining any action without the sanction of DGI other than an action for damages in respet of an injury to his person;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(h) leaving Malaysia without the previous permission of DGI or court;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(i) receiving pension or other gratuity; and</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">(j) enforcing his rights under certain legislation.</span></h3>
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<strong>24. What are the procedures to be followed by a person once he’s been adjudged a bankrupt?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Once a person has been adjudged bankrupt by the court, he must attend to MdI's branch that administers his bankruptcy case. The branch that administers a bankrupt's case usually is the one nearest to the High Court where the bankruptcy order was made. Once he attends the branch, he will be required under the bankruptcy law to provide his details in a preliminary enquiries session, among others his full name, identification number, residential address, details on family members and causes of his bankruptcy. The bankrupt will also be required to file in Statement of Affairs which needs him to disclose his assets and liabilities to the DGI.</span></h3>
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<strong>25. What are the responsibilities of a bankrupt?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Upon the making of the bankruptcy order and throughout the bankruptcy period, a bankrupt must give full co-operation with the DGI in the administration of his bankruptcy and the realization of his assets. The bankrupt must provide information on his assets and liabilities, financial transactions and other relevant matters.</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Bankrupt's responsibilities include:</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Attending at the DGI's office as soon as possible upon the making of the Receiving Order and Adjudication Order and other subsequent meetings with the DGI whenever notified;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Handing over all assets to the DGI;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Submitting a completed Statement of Affairs;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Submitting an Income and Expenditure Statements every six (6) months;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Attending all meetings of creditors;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Making contribution / payments towards bankruptcy estate out of personal income;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Refrain from obtaining further credit;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Shall not to obtain a credit of RM1,000.00 or more from any person without informing the creditor his status as a bankrupt;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Not to make payments direct to the creditors;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Informing the DGI immediately of all changes of name, address, telephone number, income, property and other relevant information;</span></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Responding to the DGI's inquiries within a stipulated time; and</span><span style="color: #444444; font-size: 12px; line-height: 20px;">Complying with DGI's, Court orders and provisions in the Bankruptcy Act 1967</span></h3>
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<strong>26. What are the risks taken by financial institutions if they decide to give loan to a person who has already been made a bankrupt?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">If the lender is aware of the bankruptcy status of the borrower and decides to approve the loan nonetheless, the risk will be upon the lender. The lender must bear all risks in the event the borrower i.e. the bankrupt fails to service the loan.</span></h3>
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<strong>27. What effect does bankruptcy have on the employment of a bankrupt in certain professions?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">A bankrupt may not engage in particular trades or professions where there may be certain restrictions imposed by professional associations or licensing authorities, such as lawyer, accountant, liquidator, quantity surveyor or act as a director of a company. The relevant professional bodies should be consulted for further information.</span></h3>
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<strong>28. What happens to the bankrupt’s assets or properties once he is adjudged bankrupt?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">According to Section 24 (4) of the Bankruptcy Act 1967, all of the assets and properties of the bankrupt will be vested upon the DGI.</span></h3>
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<strong>29. What is bankruptcy? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Bankruptcy refers to a process where a debtor will be declared a bankrupt pursuant to a court order. All property belonging to the bankrupt will vest on the Director General of Insolvency (DGI) and the DGI has the responsibility to sell all such assets. Once this is completed, the proceeds of the sale will be distributed among creditors who have filed their proof of debts with the DGI's office.</span></h3>
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<strong>30. What is the difference between an annulment of a bankruptcy order and a discharge from a bankruptcy order?</strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">An annulment has the effect of terminating a bankruptcy order that was made against you, as if the bankruptcy order was never made. </span><span style="color: #444444; font-size: 12px; line-height: 20px;">On the other hand, discharge from a bankruptcy order relieves you from all of your debts provable in the bankruptcy except for debts due to the Government, State, and Attorney General in respect of bail bonds and any provable debts which were incurred by means of fraud or fraudulent breach of trust.</span></h3>
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<strong>31. What should I do once I am a bankrupt? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">Once you have been adjudged a bankrupt, you are advised to come to our Branch as soon as possible. The Branch that is administering your case will be at the same state where the the bankruptcy order is/was made. You are expected to give full cooperation and disclose every detail pertaining to your income to our Insolvency Officer. We will then assist you in completing all mandatory forms.</span></h3>
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<strong>32. Whether a bankrupt is allowed to deal with his assets for instance charge his property? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">A bankrupt is not allowed to deal with his property as provided under Section 24 (4) of the Bankruptcy Act 1967 because all of his assets and properties will be vested upon the DGI. Therefore, any transactions and dealings on his properties can only be made by the DGI. A bankrupt is also not allowed to enter into any dealings which involve monetary value.</span></h3>
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<strong>33. Why are there instances where a person is unaware that he/she has been declared bankrupt by the Court? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">There are few reasons why a bankrupt is unaware of his bankruptcy status, among others is when the service of Bankruptcy Notice and Creditor's Petition was made by way of substituted service. Substituted service is made via an advertisement in local newspaper or posted on the notice board in court. A bankrupt may not be aware that a bankruptcy proceeding has been initiated against him. Substituted service is done when the bankrupt cannot be located mainly due to a change of address.</span></h3>
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<strong>34. Will the status of bankrupt affect my existing job or my future opportunity to be employed as an ordinary employee? </strong></h3>
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<span style="color: #444444; font-size: 12px; line-height: 20px;">When you are declared a bankrupt, it would not deny you of your right to continue serving with your current organization. Neither would this status prevent you from any future or potential recruitment. However, you must be subjected to your terms of contract with your current employer. For instance, where the contract requires you to inform the employer if you are declared a bankrupt, then you must inform your employer of your status.</span></h3>
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<span style="color: #444444;"><span style="font-size: 12px; line-height: 20px;">http://www.insolvensi.gov.my/faqs/bankruptcy</span></span></div>
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I used to get nuts for not able to figure out how people can ended not able to pay RM 30,000 debts. I am still getting nuts for not able to figure out today.</div>
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Car installment RM 500 for Myvi</div>
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Starbuck RM 30 x 4 RM 120</div>
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Cellphone bill RM 100</div>
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Petrol RM 250</div>
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Food RM 8 x 3 x 30 = RM 720</div>
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Total RM 1,690 = Savings RM 810 if one earns RM 2,500</div>
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So saving after 1st year coming out to work = RM 9,720. Ya....hooooo.....can buy a nice iPhone and some new shirts and shoe.</div>
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Work damn hard, got RM 300 increment. New salary will be RM 2,800. So how to get bankrupt?</div>
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You can if you have this scenario</div>
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Car installment RM 1,217 for a sexy Europe car in the range of RM 100,000.</div>
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Starbuck RM 30 x 4 = RM 120</div>
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Cellphone bill RM 100</div>
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Petrol RM 300</div>
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Food RM 8 x 3 x 30 = RM 720</div>
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Recreation, Shopping, travel RM 500</div>
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Total RM 2,957. If one earns RM 2,500</div>
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Ended up debts of RM 5,484 after a year on credit cards.</div>
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Year end - travel to Europe - RM 15,000 on credit card, swear will cut expense after the trip.</div>
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So, total debts = RM 20,484. Interest 18% a year or monthly interest RM 307/month. Not to mention car insurance of at least RM 3,000, etc......</div>
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If we do the math, it does not take long to be GAME OVER.</div>
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Unknownnoreply@blogger.com3tag:blogger.com,1999:blog-7417366406169637006.post-41748552071211769612014-11-03T20:40:00.000+08:002014-11-03T20:51:03.139+08:00One of the best articles - Malaysia-Finance: Investing Paths<span style="background-color: #fefdfa; color: #333333; font-family: verdana;">Time really flies. I first got to know Malaysia-Finance blogspot by reading his articles on The Star. That was in early 2008. I like his Investing Paths instantly and I think this can be a classic piece that will never aged.</span><br />
<span style="background-color: #fefdfa; color: #333333; font-family: verdana;"><br /></span>
<span style="background-color: #fefdfa; color: #333333; font-family: verdana;">He summed very nicely about different styles of investment and what every investor would most probably have gone through. I can relate instantly when I read his article because I tried most of them. What I like the best was his </span><span style="background-color: #fefdfa; color: #333333; font-family: verdana;">best advice that summed up nicely at the last paragraph of this article. </span><br />
<span style="background-color: #fefdfa; color: #333333; font-family: verdana;"><br /></span>
<span style="background-color: #fefdfa; color: #333333; font-family: verdana;">P.S. I will be back and have a lot of things to say when the bear market is back! Until then posting will be extremely infrequent.</span><br />
<span style="background-color: #fefdfa; color: #333333; font-family: verdana;"><br /></span>
<span style="background-color: #fefdfa; color: #333333; font-family: verdana;">_______________________________________________________________</span><br />
<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 30px;"><br /></span>
<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 30px;">Investing Paths</span><br />
<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">Everyone who starts investing will try to understand the stock markets by talking with others who have been investing. Then we all move on to reading books by the Grahams, Lynchs and Buffetts of the investing world. Probably after losing more money, we will gravitate towards the technicals and charting gurus: the waves, oscillators, fibonaccis, RSI, momentum, etc. So what do we end up with?</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">Some of us stick to a tried and trusted way of investing, or just something we are comfortable with, or something we can understand. So which groupie do you belong to?</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">Fundamental Analysis – This group basically looks at the cause-effect in investing variables. This can be broken up into two groups, namely, top-down or bottom-up. The former refers to getting the macro picture and capital flows correct. This will give the investor a proper perspective on country and currency exposure. If you get the country and currency correct, it doesn’t really matter much about picking the right stocks. Get the big picture wrong and it matters little whether your have picked some great value stocks – great value stocks would remain just that, great value, not performing stocks.</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">Then there are those who would swear off the big picture volatility analysis, seeing stocks as basically long term companies doing a certain kind of business. The bottom-up investor would stay focus on picking undervalued stocks and based on the theory that holding a good long term stock would eventually outperform in the long run, riding out the volatility.</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">A financial analyst or business analyst would be doing things from a bottom-up perspective. Breaking down product lines, revenue streams, debt levels, cash flow analysis, product outlook, business model, margins and sustainability of earnings, among others.</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">To be fair, most fundamentals investors employ both approaches in some way or other. A top-down person would need to be more well versed with economics while the bottom-up needs to appreciate the nuances of accounting. People in this camp wants everything to be explained, the cause-effect. If they did not spot the correction beforehand, its because they haven’t been giving adequate attention to certain investing variables.</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">Put another way:</span><br />
<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">Top-Down Investing People with a bit of economics knowledge but scared shitless about accounting Bottom-Up Investing People who knows a bit about accounting but hates fiction</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">Then there are the ones who embraced technicals and charting religiously. These are basically pattern seekers, they try to find pattern from historical prices. To me, these are people who have basically given up trying to understand stocks. They are basically saying there is not much point trying to understand fundamentals, its either too hard or that it doesn’t matter much really in the end. On the other hand, the patterns and data may yield more than just trends, they believe that the human psychology and the way people invest are already reflected in past data: and they tend to repeat themselves. If you are able to decipher trends, breakouts and supports: you are golden.</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">To be fair, there are some who employ a mish-mash strategy of fundamentals and charting in investing. Here, I am not trying to say which is the better option as most reported studies tend to come to the conclusion that it is very difficult to beat the market in the long run. People like Buffett and Lynch are explained as minor aberrations to the data. This doesn’t sound good for the average investor, does it!</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">Big investment houses employ highly paid quants to do analysis and highly evolved econometric models to squeeze anomalies (returns) from the market place. Quantitative finance might sound like rocket science but even they are not infallible. Just look at the LTCM and Goldman Sach’s in-house hedge fund experience.</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">Hence, we cannot roll our eyes if a seasoned trader said that he/she relies on market rumours or whispers to make his/her stock selection. A bull market has the effect of making almost everyone think that they have harvested the ability to be brilliant stock pickers. A bull market only made it easier to pick performing stocks.</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">It is probably the mystique of being successful in investing that keeps investors baffled yet attracted to the field.</span><br />
<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">I am terribly sorry that I am not able to provide a better alternative to the above. I do feel that there are strengths and weaknesses with each of the investing strategy.</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">If I may try to add some value, is to encourage young investors to pay more attention to behavioural finance in addition to the stuff in textbooks. It is important to understand the madness of crowds. Another point is to read up more on investing variables, examine their cause-effect relationship, and then rank them in your head in order of importance. The trouble is you can read books and watch the business programs but you will be inundated with information overload. We have to learn to rank and sift the b.s. from the things that address the issues at hand properly.</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">To extend on the cause-effect on investing variables, we need to go further down the chain of events. Its like a good chess player and a grandmaster. A good player may be able to think 3 or 4 moves ahead but a grandmaster can go much farther. I do think by stretching your analysis, it gives you an edge.</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;">We need all the help we can get. As Soros rightly put it, "More importantly, it is how much money you make when you're right about the market and how much you lose when you're wrong. " To do that: we need to get the big picture right; we need to get the exit, entry and cut loss prices right; and we need to pick the right stocks with corresponding valuation and growth implied, and note them when the variables start to deteriorate. We need all the tools that will help us achieve that.</span><br />
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<span style="background-color: #fefdfa; color: #333333; font-family: verdana; font-size: 17px; line-height: 23.6599998474121px;"><br /></span>Unknownnoreply@blogger.com79tag:blogger.com,1999:blog-7417366406169637006.post-59367724537337366212014-09-06T20:27:00.001+08:002014-09-06T20:27:20.221+08:00Corporate Malaysia - 14th consecutive quarters of disappointing earnings but market still charge ahead??<br />
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PETALING JAYA - Corporate Malaysia delivered one of its worst results season for the second quarter with earnings falling 12.4% quarter-on-quarter and 5.7% from a year ago.</div>
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The showing marks the fourteenth consecutive quarter of disappointing numbers.</div>
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The top 30 companies on Bursa Malaysia reported a 12.4% decline in net profit of RM14.84 billion in the three months ended June 30 2014, with growth figures were impacted by extraordinary items.</div>
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"The sequential growth number was dampened principally due to the high-base effect from an RM1.83 billion gain on demerger/disposal of IOI Corporation Bhd's property business in Q1'2014.</div>
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<span style="line-height: 19.2000007629395px;">"Similarly, the year-on-year growth number was lowered due to the effect of Petronas Gas Bhd's RM591.6 million deferred tax assets, Sime Darby Bhd's RM340 million disposal of healthcare unit, and Tenaga Nasional Bhd's (TNB) RM324.7 million forex translation in Q2'2013," MIDF Research's head of equity Syed Mohammed Kifni said in a report yesterday.</span></div>
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However, after deducting the relevant exceptional items, the adjusted sequential growth figure in Q2 showed a lower decline of 1.8% and the on-year growth figure actually turned positive to 2.5% year-on-year.</div>
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"The aggregate earnings and growth figures for Q2'2014 nevertheless came in below expectations," he said.</div>
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Syed Mohammedi n his previous report had anticipated aggregate earnings of RM15.84 billion, sequential adjusted growth figures of 4.9% quarter-on-quarter, and on-year adjusted growth figures of 9.4% year-on-year.</div>
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MIDF made eight changes to its stock recommendations with four upgrades and four downgrades during the quarter. In addition, target price changes involved 15 upward adjustments against 27 downward adjustments.</div>
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Overall, 27% of stocks under MIDF coverage reported lower-than-expected earnings, the highest since Q3'CY13, from 17% in the preceding quarter. Of the rest, 9% posted earnings that were better than expected versus 64% which came in within expectations.</div>
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He noted that the construction, semiconductor and healthcare were among the sectors which recorded higher total earnings in Q2'2014 when compared to the corresponding period last year.</div>
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On the other hand, sectors such as telecommunication, transport and automotive were among those that showed negative on-year earnings growth percentage in the quarter under review.</div>
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Among the FBM KLCI constituents under his coverage, Sime Darby was the only company that reported better than expected earnings. On the contrary, there were eight earnings underperformers, namely AMMB Holdings Bhd, Axiata Group Bhd, CIMB Group Holdings Bhd, Felda Global Ventures Holdings Bhd (FGV), IHH Healthcare Bhd, Kuala Lumpur Kepong Bhd, Petronas Chemicals Bhd and UMW Holdings Bhd.</div>
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He maintained his full-year earnings projection for the FBM KL Composite Index (FBMKLCI) constituents of 1,900 points with the upper and lower bounds at 1,980 points and 1,840 points respectively.</div>
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Consequently, MIDF Research lowered the aggregate earnings estimates of the 23 stocks under its coverage by 2% to RM53.33 billion in 2014 and 3% to RM56.33 billion in 2015.</div>
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At the same time , MIDF Research has adjusted the aggregate earnings estimates of stocks under its universe down by 3.3% to RM67.96 billion in 2014 and 3.4% to RM73.98 billion in 2015. -Sundaily</div>
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Today is 31 August 2014, Hari Kemerdekaan. May be a good idea to sit back and relax to think about the meaning of freedom. Since this is a finance blog, the more relevant theme will be financial freedom. I came across 2 articles recently and it has been quite a talk of the town.<br />
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The first one was:</div>
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<span style="background-color: white; font-family: 'Open Sans', 'Helvetica Neue', Helvetica, Arial, sans-serif; line-height: 21.666667938232422px;"><span style="color: red; font-size: large;">When even RM12,000 a month isn’t enough to get by in Malaysia</span></span><br />
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While Putrajaya talks up proposals to help the people mitigate rising prices with cost of living labs and possibly even more targeted subsidies, most Malaysians are looking at the prospect of expenditure exceeding their monthly salaries.</blockquote>
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One of them is Caroline Wong, who believes her combined household income of RM12,000 is not enough to sustain a living in Penang, famed for its beaches as much as it electronics manufacturing sector.</blockquote>
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<span style="background-color: white; color: #333333; font-family: 'Open Sans', 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 13.333333969116211px; line-height: 21.666667938232422px;">The 34-year-old clerk lives with her husband, a sales manager and their young daughter are starting to feel the pinch despite earning an income that was once sufficient to live comfortably.</span>“We are always eating in at home now and we can no longer afford to buy goods like branded clothing,” Wong told The Malaysian Insider in Penang's capital city George Town.</blockquote>
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According to Wong, every month the couple have to fork out RM4,000 for the house and car, RM1,500 on food and another RM1,500 on daycare, baby food and milk for their child.<br />
On top of that, there is RM750 on insurance and a family medical card, RM700 on petrol, RM600 on phone bills, WiFi and broadband, RM120 on Astro, RM140 on water and electricity bills and RM110 on a weekly housekeeper.</blockquote>
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“We put aside RM500 every month for road tax and car insurance. Come May next year, we will have to spend another RM1,500 a month on our second child when it arrives,” Wong said.<br />
<span style="background-color: white; color: #333333; font-family: 'Open Sans', 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 13.333333969116211px; line-height: 21.666667938232422px;">- See more at: http://www.themalaysianinsider.com/malaysia/article/when-even-rm12000-a-month-isnt-enough-to-get-by-in-malaysia#sthash.SDDBvKlL.dpuf</span></blockquote>
It is quite wordy, so I just put them in a table.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu8B0VloFzReYMhSYSZk5uLlWuJ6x0HKKTH0flvUShtzCkZVhUGVBH2w41Nqygu-5F0Rojni-UxDzAzoa8Jyi8G1OMbHHi3KR3W1Z0X-T9CaF6ZZTJ8bybeUmQyNIPfy1FFqzzxhxQjbs/s1600/Not_enogh.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu8B0VloFzReYMhSYSZk5uLlWuJ6x0HKKTH0flvUShtzCkZVhUGVBH2w41Nqygu-5F0Rojni-UxDzAzoa8Jyi8G1OMbHHi3KR3W1Z0X-T9CaF6ZZTJ8bybeUmQyNIPfy1FFqzzxhxQjbs/s1600/Not_enogh.png" /></a></div>
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The other article was:<br />
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He may be an international superstar having appeared in blockbuster productions from Hong Kong to Hollywood, but Chow Yun Fatt is still a frugal man deep down.</blockquote>
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<span style="font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 19.200000762939453px;">According to a My Paper report, Chow, who is said to be worth S$126 million, claimed that he is still using a first-generation Nokia phone, and that he can survive on just 500 Chinese Yuan (S$103) a month.</span></blockquote>
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<span style="font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 19.200000762939453px;">Speaking at a public event, Chow jokingly gave a detailed look into how that monk will look like.</span></blockquote>
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The breakdown of that survivalist month is as such: He doesn't need food for the month as he can survive on just water for 28 days, which will get him 1000 yuan of savings (S$206).</blockquote>
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With that amount of money for the next month, he needs now to only eat a meal costing 10 yuan (S$2) a day, which can save him 200 yuan (S$41).</blockquote>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: 12px; line-height: 19.200000762939453px;">The remaining 200 yuan is used for transportation.</span></span></blockquote>
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He went on to explain the rationale behind his survivalist plan, saying that money should not be the barometer to one's happiness in life.</blockquote>
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As long as one live his or her life to the max, he or she can be happy too no matter how poor, he added.<span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 19.200000762939453px; margin: 0px; outline: 0px; padding: 0px;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; margin: 0px; outline: 0px; padding: 0px;"><br /></span></span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 19.200000762939453px; margin: 0px; outline: 0px; padding: 0px;"><br /></span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 19.200000762939453px; margin: 0px; outline: 0px; padding: 0px;">Full article: <a href="http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=349761:you-wont-believe-what-mobile-phone-chow-yun-fatts-using&Itemid=4#ixzz3Bw0LHUug" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; color: #003399; margin: 0px; outline: 0px; padding: 0px;">http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=349761:you-wont-believe-what-mobile-phone-chow-yun-fatts-using&Itemid=4#ixzz3Bw0LHUug</a> </span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 19.200000762939453px; margin: 0px; outline: 0px; padding: 0px;">Follow us: <a href="http://ec.tynt.com/b/rw?id=dKs-jk4VKr4OaJacwqm_6l&u=MsiaChronicle" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; margin: 0px; outline: 0px; padding: 0px;" target="_blank">@MsiaChronicle on Twitter</a></span></blockquote>
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Again, if it is too wordy, this is how Chow Yun Fatt financial survivalist budget looks like.<br />
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BTW, if you decided to follow Chow Yun Fatt survival plan, this is how one will look like. It's too extreme for me but he got a good point.<br />
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So, what lessons can we draw from Penang Kia vs. Chow Yun Fatt? The first thing that jumped on top of my mind was: is Financial Freedom a myth? Is Financial Freedom is a cliche that over abused and over used marketed by personal financial planner?<br />
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There is a flaw in the argument itself? To say we need to achieve financial freedom mean we are already a slave or in bondage. On the contrary, in reality each of us already have financial freedom. The real issue is what do you want to do when you are already financially free.<br />
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In Chow Yun Fatt survival version, he said he is free with RM 526/month. However, our Penang Kia thinks RM 12,000 or having 22 times more than survivalist income is not enough to get by. Our Penang Kia was quite sure they are quite proud that they created a budget. They live within their means. When they say they cook and eat at home, that was their version of getting more frugal. All sounds too logical to many but there is a flaw. The problem that infecting city dweller is they are too obsessed with the concept of Quality of Life.<br />
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The version of Quality of Life that many have in mind was to live a scale down of rich and famous. Many did not realize they were brainwashed constantly by the media to conform into their image of success. When one cannot afford to drive Lamborghini, one picks Volkswagen GTi. One cannot afford to stay in high floor penthouse with 5,000 sq ft, one pays for almost similar cost/sq feet over-priced condominium with 1,000 sq st. Unconsciously, we may even have image of 10 servants and butler service, we want people to serve us.<br />
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By the way, do you know why Bollywood prospers despite of have some many poor people in India? Because it is a form of escapism. Part of the reason of why Hindi movies are so long, 3 hours, is because it will help people to forget about the pains and lost in fantasy for a while. Similarly, when urban dwellers confront with pressure of so called costs of living, they try to tell themselves that they need entertainment by gluing to Astro or pubs hence need more time by getting weekly helpers to do housework for them.<br />
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We go into justifying to have quality family time by going to restaurant but most ended up starring at iPhone and Galaxy without talking to each other. We talk but we don't communicate.<br />
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We buy more insurance because we are afraid of getting sick. We constantly looking at our beer belly thinking of having high risk of heart attack but rarely exercise. What is worse, we ended paying thousands of Ringgit swearing we will work out at Absolute fitness centre but constantly feeling guilty because we did not make good on our promise.<br />
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Many forgot the essence of life. I ask myself a lots - What makes life worth living? Many put their energy in the wrong place. They focus too much at EFFECT and not CAUSE. Happiness is an EFFECT. Financial Freedom is an EFFECT. Many organized their lives as if putting a check mark on their to do list. Many spent way too little time on CAUSES.<br />
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Some of these images will remind me of the love of my mum. My mum will feel so happy watching me eating as if I was still 7 years old though I have a lot of grey hairs.<br />
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I remembered I was driving a car slightly better than this condition. But I was very happy and going into office with full of energy and enthusiasm.<br />
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I learn secrets from many wealthy people. They always live by pretending they earn a lot lesser. A person earns RM 12 k/month should live by pretending they earn RM 4 k/month only.<br />
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<br />Unknownnoreply@blogger.com3tag:blogger.com,1999:blog-7417366406169637006.post-22570155915103482512014-08-23T19:24:00.000+08:002014-08-23T20:49:22.427+08:00Retailers @ the losing end again.....fingers burnt(The Star - 23 Aug 2014) --- my write up is at the end of this long cut and paste article<br />
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Don’t be fooled by the high trading volume</h2>
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LAST week a broker got an order from a client who has not bought or sold shares for the past three years. The client, who is retired, placed an order to buy shares in Sumatec Resources Bhd at 61 sen.</div>
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Sumatec was among the few stocks that saw heavy volume being traded last week. The broker advised the elderly man that he should not be taken in by the euphoria that the market had seen last week, with trading volumes hitting record high of more than 7.6 billion shares in a single day.</div>
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Apart from Sumatec, the bulk of the shares were traded in two other stocks, namely, Globaltec Formation Bhd and PDZ Holdings Bhd. The three stocks have a combined market capitalisation of RM2.6bil, which is a fraction of the entire market capitalisation of Bursa Malaysia that stood at RM1.76 trillion yesterday.</div>
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The elderly retail investor did not listen to the broker’s advice. Sumatec ended at 45 sen that day. Now, the retail investor has to wait for Sumatec to recover or lose a few thousand ringgit if he chooses to sell.</div>
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The large trading volumes of stocks should not be a reason for retail investors to invest in stocks. Fundamentals should be the primary reason. The large volume is a game for a select group of market participants called proprietary day traders, or better known as stockists.</div>
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There are about 80 of them attached to various brokerages in Bursa Malaysia. Their job is to trade for the brokerage as principals. They don’t have any clients. The stockists can buy and sell as much as they want in a day. There is no limit imposed.</div>
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They are not imposed any brokerage fees but have to pay stamp duty and clearing fee to Bursa Malaysia based on the value of trades done. The duty is capped at RM250 or less, while the clearing fee is minimal.</div>
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A brokerage will normally place their stockists in a room where they conduct their buying and selling operations with minimum disruptions. Even phone calls are restricted.</div>
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The stockists can short-sell stocks without having the shares in hand. But they have to cover their positions by buying back from the market before the end of the day’s trading.</div>
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The profit from buying and selling are shared between the brokerage and the stockist. Normally 60% goes to the brokerage and the trader gets 40%. However, an “ace stockist” can command up to 90% of the profits. But the stockist has to absorb all the losses.</div>
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Normally, the brokerage will hold the profits of the stockist and pay out only after a year. An ace stockist can earn RM10mil or more a year by just being a principal stockist for the company.</div>
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But there are limitations to what a stockist can do to generate the volume of stocks. They generally shy away from stocks that are more than RM1 and that have a small paid-up capital.</div>
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Apart from having to incur a higher clearing fee, normally stocks that are held tightly tend not to have enough shares in the market to generate the volume without causing a substantial rise in the price.</div>
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The typical targets for a stockist are stocks that are priced at less than RM1 and that have a large share capital. For instance, Globletec Formation, which is an amalgamation of three stocks that were involved in manufacturing automotive components, has a capital of more than 5 billion shares.</div>
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Some companies like to see the activities of the stockist because it supposedly adds excitement to the market, not to mention to the stock as well.</div>
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But there is also a view that the stockists hold an unfair advantage over the normal investors because they can short a stock or take long positions several bids higher.</div>
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This allows a few stockists to “gang up” and deliberately cause a panic sell-down of a particular stock.</div>
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In jurisdictions such as Hong Kong, while short-selling is allowed, there are rules that prevent deliberate sell-downs. Anyway, this volume game of trading in stocks is not for retailers. It is only for the traders of the market where the risk and returns are high.</div>
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For retailers, ultimately value investing is the game. Value stocks may not have the kind of volume one would like to see nor would it be cheap. But it attracts the kind of investors who generally take a long-long term view.</div>
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Berkshire Hathaway Inc, the flagship listed entity of Warren Buffett crossed the US$205,000 per share mark last week, making it the highest-priced stock on the New York Stock Exchange. Despite calls from shareholders to split the stock, Buffett has stayed firm in refusing to undertake such an exercise on the grounds that it would attract a “different breed” of investors that he does not fancy.</div>
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A hard-to-trade stock encourages investors to take a long-term view and cuts out those trading on emotions. This is something retail investors should take heed of. The volume game in trading stocks is not their cup of tea. It is only for a select few.</div>
<span style="color: red;">My comments:</span><br />
<span style="color: red;"><br /></span>
<span style="color: red;">My heart ache whenever I heard a story like this especially retired people who has never been or out of stock market got seduced and slaughtered. If this thing keep on happening with more people having their fingers burnt, it certainly does not help when the retail investors have just shown some interest to get back to the stock markets. Now that "they" drove them to the ground.......it is just too cruel. The damage is pretty severe.</span><br />
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<span style="color: red;">My this post is not to add salt to the injury but rather to remind ourselves that stock market is like a coliseum.. Once we have decided to enter the fight, there are only two outcomes - you kill someone or killed by someone. It is a no mercy game. </span><br />
<span style="color: red;"><br /></span>
<span style="color: red;">There are no amount of laws or regulations that can protect the ignorant, the unprepared or innocent. I certainly condemned short sellers with unscrupulous tactics to talk down market or stockists who "pump and dump". </span><br />
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<span style="color: red;">We have been taught about food chain since we have been a kid. When we think about it, it is pretty cruel but that is the way whole eco-system works. There is always a prey and a predator. But not every caterpillar will be eatened. Many in fact turn into beautiful butterflies. What can we do to protect ourselves?</span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUBXaXSBAG5yWd5yW4nprGSPQtk6nLOp0FgKsQI_kLSBjYFKRqf17y1EtnsBTlqIXNr8l-Tbw8fClXu51POXQem8G5Mo0eDu9Y4IP6TLFEvqe9wEpSXl4KBBx7UoZdI8E-54mRqELBj8w/s1600/food-chain.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUBXaXSBAG5yWd5yW4nprGSPQtk6nLOp0FgKsQI_kLSBjYFKRqf17y1EtnsBTlqIXNr8l-Tbw8fClXu51POXQem8G5Mo0eDu9Y4IP6TLFEvqe9wEpSXl4KBBx7UoZdI8E-54mRqELBj8w/s1600/food-chain.jpg" height="320" width="257" /></a></div>
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<span style="color: red;">This short video taught us a lot about principles to stay alive in the stock market. It helps us to understand our brain better. Understanding of our brain and how to control them especially the amygdala part of our brain. </span><br />
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<span style="color: red;">Don't lose faith. Stock market is still one of the best places to build long term wealth if we do it correctly. Cheers!</span><br />
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<br />Unknownnoreply@blogger.com3