Why gold is a bad investment Weekend Investor - MarketWatch

I like to share an article about gold. It is an interesting read summarizing all the factors that affect the precious metal... It is a good read... and an investment class which I have yet to know much about...

Why gold is a bad investment Weekend Investor - MarketWatch: "- Sent using Google Toolbar"

Book review Dale Carnegie: How to win friends and influence people

I have recently completed this book. It was touted as one of the best books by Warren Buffett himself. So I decide to do a review of the lessons taught within the book. To summarize the essence of the book, I realized that even though the book gives you ten or twenty steps and guides to follow to ensure good human relations and communications, but the mere fact that the author advocates that it is the way of thinking that most influence the success in the lessons taught. For example, one has to constantly keep in mind the other person opinions and viewpoints; and also to offer endless praise to others. As I repeat what I have mentioned above again, this book, though it has given readers some guides to achieve better communication with others, the central theme lies in to always put others before yourself, thereby humbling yourself and praising others.

Let’s just share a little discovery I made at the end of book. Currently I am on a stopover in Milwaukie on my way back to Atlanta. Dale had also spent some time in Omaha, Nebraska. He had no money then, I had not much money with me either as I am waiting to build my personal wealth. I am definitely not old, but I am not that young either…. Anyway, back to my point, I feel that Dale and Warren do not need to live in the city to succeed. They are able to do as well as their counterparts in the city. Why is that? It is not my incentive to argue that the country side or suburban areas are better than others, for the chances of another Dale or Warren is so minimal; we (those who lives in the city) are merely increasing our chances of probability of success. However, that similarity struck me and I would certainly like to find the reason why… Additionally, I realize that I do not have much drive to do things like reblogging again and to finish this book when I am back in my normal routine of life. I realize that this is also similar to the city and suburban analogy. Living in the city (in our daily normal routine) will seek to increase our chances of success but going on a retreat to Omaha (living in the country side) give us a fresh perspective on our current situation and life. 

Reviving this blog

A fresh coat of paint, a new template. I am going to make it a point to blog about my personal journey in my own finance. I was inspired to continue this while spending some time now in the United States, I have the time to not get caught up in all the little to-dos and deadlines due just because I wasn't there to receive any additional new assignment. I do feel a little guilty for letting others to take on my job momentarily but however I guess everyone really needs this break, this pilgrimage to some place else... So that one can think and reflect.

Anyway, currently I am in the land of the best investors of all.. Warren Buffett. Omaha Nebraska... I use to read books on him describing the companies that he purchased, see's candies, Mrs B. furniture mart etc..

Okay.. Shall look forward to posting another post soon.

A newfound friend

Today, I found a common interest group "friend". Well, actually he supposed to be my project mate for one of the classes and to give a quick introduction of him, a person with some experience in the stock market. We chatted for a while, and he shared with me some of his investing philosophy, like the most important of all is to cut your losses. And he also have his own personal method of playing the stock market, which I shan't share over here for I'm in no position to share his method. Well, just to sidetrack a little, I kinda like writing down my personal journal as and when i please and feel like doing so. As I blog an entry, the weight on my shoulders seem to grow lighter and lighter. it seems that my problems are being transfer to the words that I see in the editing screen. I just like blogging, and sharing my personal life with those who read this blog. Anyway, reverting back to my entry, which I keenly like to share, because I find that the more you share, you can share anything, the more you feel good. it is just like the feeling when I'm blogging, the weight on your shoulders start to lighten, although if you are working out at a gym, surely the preferred choice is the heavier weights. By the way, it is the weekend, well, friday night. I'm quite glad that I can choose to stray away from the main work, although I have some work to do, just done a weekly review and, similar to an antivirus scan, I roughly know what I need to do to keep me going for next week. However, I'm pushing them aside for the moment and look to enjoying my weekend. Weekdays are for being serious and giving my hundred and one percent. Weekends are the reward due to me for working for the week. I'm a little guilty for my statistic class last week though because I strayed away from the class as the professor lets put it as, not very willing to teach the concepts properly. Which made me strayed onto the applications such as msn and facebook. As a result, I hand't learn much from stats. Another class of which is AS, I feel that I didn't learn much, wasting my uni tuition fees huh, and for ppl who are concern about their money, such things shouldn't be always occuring yeah? I was really tired tt I dozed off.. Hm, I think I better go do something about that.

Wish me all the best and look forward to the next post!

Say... since I put a newfound friend as my title, I would liek to mention that I have also made a new friend with the hairstylist just now. Been to the saloon a few times already but he is always sitting either at one of the chairs, or at the cashier counter. I thought that he was the boss of the shop, which owns a branch of shops around the area. I was quite surprised when he actually cut my hair.. haha.. Well, the conversation started from my concern about the 'explosive' nature of my hair currently and we joked about it and yah.. A newfound friend..

~Cheers

Book review on Trump Real Estate & 7 years to 7 figures

I figured that I should blog about any books that I have recently completed although it is now early in the morning. A time against my daily routine of waking up past this time and reading hte daily papers. However as I go about finishing my 3 slices of bread for breakfast, I was attracted to dawn, the first rays of light, a scene that I get to rarely see. Then I decide to read a book to complement this majestic view of sunrise. Basically, I have completed reading two books during my 2 weeks term holiday and I am rather glad that I manage to do it as in my other blog I said something about achieving a good balance between self-enrichment and enjoying the other aspects of life like going out with friends.

Let me start with the first book on Mr. Donald Trump real estate investment. I was attracted to it because of the influence that the show 'the apprentice' have in me. I would like to read up more about this interesting genius and what exactly is he dealing with. Before reading this book, I thought his job was to say "your fired" to somebody each week base on a certain weakness seen in that person, but never I get to see what made him the Mr. Trump that everybody revered about him now. As I read this book, the author who is a legal counsel for Mr. Trump and also co-acting as a business consultant in his real estate business has gave a valuable insight of Mr. Trump. He judged Mr. Trump as a person of enthusiasm, good negotiating power, the tenacity to extend himself to achieve something and building really good relationship with his business associates as invaluable character traits of Mr. Donald Trump. The main topic centered on how to be good small-time real estate investor as the author knows that there are not a lot of big players that will be reading his book - they would spend their time tending to their businesses and how else can they make more money. However, I wasn't really interested in that. Let's put the perspective of time frame to be yet. I am interested about the author enthusiasm that has a collateral effect on me which has really spark off an interest in the study of company law in me. How else to nail down the points clearly in a contract to substantially benefit yourself and prevent you from the unnecessary trouble later on in your business. Hence from the author, I am able to appreciate the finer arts of practising law. Unfortunately, I'm not into the law degree though I have some friends whom are taking law, maybe there can be a future partnership between us? Lets hope for the better and if I am to put it crudely, as you(the reader) and I are completely anonymous to each other, that these friends are invaluable to me and it would be good to maintain a good working and personal relationship with them.. To bring back our initial topic of discussion, I would like to bring back just one more point in this book review and that is the art of negotiation. I think I should task myself to learn more about negotiation as it is one of the rare piece of art that is not only interesting, but useful.

The next book that I would give my personal opinons on is 7 years to 7 figures. This book is unfortunately I have to say, not up to my expectations of borrowing and reading hte book. Some good points made in the book is the strategy to come up with a 7 figure salary is to prove yourself invaluable and find many ways to increase your income, so that you have mroe money to invest. Particularly, it made a point on leveraging. His argument that this is important because it actually brings, for what I eprceived as a virtually conceived ROI. High returns of 20% and above is possible if you use borrowed money to invest. I.e. Mortgage to finance a loan, business loan to finance a start-up, and to craft it to a student point of view, study loan for a education. Well, it will in fact bring about a higher percentage of your returns because in reality you are actually using a small portion of your oney to invest, the bigger pie of the captical is finance by the loans you manage to clinch from the banks and hence when the returns are completed absolutely, it is net off a smaller base figure of your own captial investment, thus what I term, "virtual ROI".

Another book that I am starting to read is Detox your finances by John middleton. I will be giving a review of it soon, once I finish it. Otherwise, you can see me writing less next week as I would be off in a camp in a rural part or in singaporean terms, "ulu" part of Singapore. :)

~Cheers

Book Review: The power of purpose

I would like to do a book review on this book, the power of purpose. This is my first book review or some can put it to be a summary of the ideas encapsulated inside it as a review would be more of a critical analysis and comments on the author's idea and believe.

This book is somewhat geared towards te idea of philosophy, names such as Plato and Aristole belief on living your personal live the right way and as a result achieving happiness from it. Because of this, I feel that this book gives me a great insight on the ideas communicated to me in the book. Unlike other self-improvement books which generally tends to look at 'hacks' to improve your personal life and productivity, this book gives the reader the perspective of looking at life through the 3 levels of thinking; first level, second level and third level, which I would explain later and also envisage a pyramid which at its peak, is the acme of sucess, or in this case, the power of purpose in life.

The author likes to go on a back to basics approach or a fundamental approach as he explains different concepts in the chapters. Therefore, I feel that understanding what the author sees as basics is where we should start this little conversation on his book. He defines that everyone looks at different people or in the process of communicating with other people, he or she will have 3 levels of thinking. The first level, wihch is what most people could be in, encompasses questions such as "how do I feel about myself". The act of self-fulfillment is very important to this group of level one thinkers then. And when there are bad times, these people seek self-pleasure to overcome their period of sadness. But this does not bring you closer to the goals that you set out to achieve. To sidetrack a little, I wish to touch on a very key idea he expressed in no relation to the 3 levels of thinking. The idea of it is not so important of winning the battle but one should focus on winning the war. It is rather self-explanatory after this and I'm glad that I did not forget to share this idea over here. As I have already explained on the first level of thinking, I'll now move on to the second level thinkers who asks questions like " How will others perceive me to be." This is an advancement of the self-centered first level thinkers in that the individual is now mindful of the people around him or her and he/she wants to make a good impression on them. This however, is again, a step away from what the author thinks is ideal state. The third level of thinking packages questions such as "How are others thinking, and what are their goals and finally to come to a conclusion of how could I help them achieve their goals." It sounds ironical but lets draw te example of me, blogging now. Ask me to see it as a level 3 thinker I would have questions such as, there are people reading this blog that seeks to improve themselves, and to become better indivuals in their surroundings. That is their goal and how can I help to let them achieve the goal, that is to constantly blog down my little ideas over here so it may have a chance that it can help the reader when he reads it. Hence, here comes the cream of the pudding. What do I benefit from being a level 3 thinker then? Firstly, I have already forge a close bond in some way with my readers and establish trust in a subtle but it is still present amond us. Next, it drives me now with a purpose, in order to be able to help others, I need to constantly read up on such good sources of information so that I have things to write on. In conclusion, this might sound simple, but isn't being simple the clearest and best way to look into the game of life?

Next, the author then take this fundamental principles to a higher platform, now you can imagine that you are on a hierarchical platform now, and you are at the lowest base of it, despite you have already so accomplished by understanding the 3 levels thinker. First base, which is the most sound and stable, is that you got to have an ambition in your life. Plato mentioned about we all live in a world of imperfection but within each of us there is always a perfect state, an ideal world that all of us wants to come to, and that can be the source of your ambition, ie the fuel or drive that keeps your inner flame burning. Second base: you must have the insight. You must be able to gain knowledge and know every situation that occurs in your life, that's when your chances of success is greater. Looking at the art of negotiation, who has more knowledge usually has more power. And this second base is a springboard from the first base, that is you got to have a goal to strive towards, then you can focus your energy on fulfilling the second base( i.e. the insight) , which then can make you progress on to the third base of relationship. Building teams and sharing everything you have, keeping no secrets and let me forewarn you that keeping on secrets is a touchy issue, and it is advisable to read up the book on it so that you won't feel that it is going against the grain of what you feel is correct. What can I say about hte building of teams, well the author breaks down to what amkes a team effective. They must "share common interest, have commitment (this is long term as oppose to interest) and have te same desire to work to improve on something to bring them closer to the above 2. Otherwise, a team is much like a doll. A figure without much "effective" value. Pardone me for my blunt vocabulary: I just couldn't think of anything better to phrase it. The highest base is postive thinking. Get bottom 3 right, and the last one should berather simple to achieve if you keep the fundamentals with you always as you apply this pyramid.

That is all for my book review. Hope you like it.

~cheers

Chasing a higher lifestyle as your income increases

Hi everyone, it has been some time since I have actually typed something over here. I know no amount of reasons could justify my lack of activity here. So I'm sorry for being the owner of this blog but not taking care of it.

I would like to share with you something, that is what happens when in your individual personal life, you suddenly get an extra stream of income. Be it a windfall, a one time gain, or an additional stream of income. May I ask what do you do, what is your mentality towards this additional stream of income. You might fall into 2 categories; one, you will take responsibility and ownership of that sum of money. Two, you will try to adapt to this new environment that you are in. Lets start with the second group first, once you get a raise, promotion, strike some lucky draw or in other ethical means has sourced for an additional flow of income, you would think that "my bandwidth (in terms of finance) has increased, I think I shall adapt to this positive environment. Then, that's where your eyes would began to scout around for 'wants' that could match the so called increase in your income. Let me tell you that it has just recently happened on a personal basis for myself and this will only let you lose a great opportunity to get closer to your goal of achieving financial freedom. Let me touch a little on the idea of opportunity. Opportunity, to the ancient Romans, is a lady god who would bless those that is fated to meet her. however, this god is has a rather special characteristic in her that she doesn't wait for man to embrace the opportunity presented upon them and it will go if the mortal does not want to meet her. Coming back to my point on why is there a wasted opportunity for the second group. The answer seems obvious and why not think about these now. Opportunities come and go, and let's say that this is a fair world and that every individual has an equal probability of receiving an opportunity, then this is considered you have wasted 1 of the 'x' number of opportunities that you will experience. Right?
First group of people, they are the better one, for they used this opportunity to bring them one step closer to their dreams. They are the ones who still stick to their 'needs' and not progress onto their wants. They are discipline in their finance and would put this extra sum into their spreadsheet of their goal to their financial freedom. Then they can progress on to see what can they do with this (specfically this and not their entire net worth) to make it grow harder for them. And looking at the power of compounding, where they are slaves for you and their children would be slaves working for you. Depending on your ability and preference and of course, your risk tolerence and other factors, you can channel them into the appropriate vehicles to make these money work harder for you. It is rather dry to read till here and so let me put my own personal experience down here again. My maiden flight, my blog title, has a sub-meaning that as I'm young and starting out, I definately will make mistakes and it is always good to admit to your mistakes and take responsibilities for your actions, that is the a criterion to good leadership, I have a lot to learn in my maiden journey towards this world. The horizon is clear but visibility is stretched to a certain distance only, beyond it is the vast unknown. After I have gone into the second group, I then tell myself that this is an 'unplanned for' money. This, I must say is a rather good technique as it tells your mind that oh, I have a loophole to cover up, I better do something about it. And then action would take place and this additional money would be somewhere inside your master plan. You then run scenarios on it and how would this new item affect you towards your goal. Positvely of course because it is a deposit to your net worth account. But to date, I must admit that I'm no where near to my financial goal.

~Cheers