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Tuesday, 23 January 2018

Everyone must invest! Really?



Sounds like a person who only knows how to use a hammer right?

Its the same sort of "well meaning" advice to study hard and work hard right? How did that work out for you?

The classic misreading is Rich Dad Poor Dad.

Many will say this book was - the inspiration, the catalyst - for them to begin their journeys towards financial freedom.

But isn't the whole book was about the benefits of being a Business Owner?

Everyone knows to be fabulously rich you must start our own business and be your own boss. So why didn't you start your own business?

Sorry, what did you just murmur to yourself?

Not everyone can be an entrepreneur...


Exactly!

Why then do you assume anyone and everyone can be an investor?

No offense, but those jobs where anyone and everyone can do, you know how much they are paid right?

And if you job pays well, you know its precisely NOT anyone and everyone can do it!



Sorry, I can't tell you what other paths are good for you. Only you know which would suit you best!

I not you; you not me.

What I know is if you ask a hammer for advice, they will treat you as nail - hammer you down patronizingly.

And if you ask a screwdriver, they'll screw with you!






35 comments:

  1. Now we even have few bloggers started subscription service. Sure you can invest! One even offers lifetime membership. So many Bei Kambing meh?

    ReplyDelete
    Replies
    1. CW,

      Only sell-side vested interest would say anyone and everyone can invest ;)

      Of course there are some non-vested interest "do gooders" who also parrot the same refrain - they truely believed in their own bullshit - but when you lose a lot of money and you go back to them, they will show you their disclaimers at their blogs or challenge you whether you can prove there's a fiduciary relationsip in the first place.

      And you feel LL..



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  2. Second part of Rich Dad Poor Dad. If you cannot be Business Owner; still got hope. Go into Investment and becomes investor

    ReplyDelete
    Replies
    1. CW,

      Precisely!

      If cannot be Business Owner, there're the Employed and Self-employed options - not just being an Investor ;)

      Since all are plan B options, why should being an Investor be "holier than thou" to the other 2 options?

      You know the real reason why Investing so attractive as an option to "escape", no entry barriers whatsoever! Truely an idiot can invest!

      Whether can make money or not that's another story...

      If a person can Earn and Save $50K per year, in 20 years he will become a millionaire!

      So is investing still a must?





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  3. Don’t like that ley.. I still need someone to buy my stocks. If everyone don’t invest, there is no liquidity in the mkt.

    ReplyDelete
    Replies
    1. WolfT,

      LOL!

      You're right!

      We need new bei kambings to join the market so we can take the opposite side of their positions.

      If we can't beat the pros, we need someone slower to outrun against!

      No wonder non-vested interests so "caring" to those that don't matter to them ;)


      Delete
    2. SMOL,

      Shiiiiiiiiii...... Don,t say it so laud. Wait everyone got scared away and only pro are left in the ring, then we half past six type Jia lat........

      Delete
    3. Sanye兄,

      Don't worry.

      Most bei kambings don't read my blog one.

      Only dragons and snakes come to this watering hole ;)


      This happens every cycle.

      We have paid our dues ;)



      Delete
    4. Hi SMOL,

      Don't like that leh. Got chimera visit your blog also.

      Born in the year of the snake and also a kambing. Snake-kambing hybrid! LOL

      On a serious note, think bei kambings are scared of you because of how you market yourself in your blog

      Delete
    5. Unintelligent Nerd,

      I'm impressed ;)

      You know your Greek mythology!


      This watering hole is like Water Margin.

      You don't visit Mt Liang without a talent to contribute and a man's head (you have been bloodied by the market) ;)


      Those who seek to be coddled and be cheered everyone will get a prize just for showing up (just call what you do "investing"), well, they know which other watering holes to visit ;)

      LOL!

      I'm not a bleeding heart.

      Bei kambings forget omnivores are not herbivores; omnivores still can eat meat!






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  4. Hi SMOL,

    Thought provoking...but I think almost every person who spends less than he earns will eventually need to find a place to park that wealth. How you earn is one matter (self employed, employed, investor, etc), but once you have that amount set aside, the rational thing to do is to invest.

    A business owner may be able to invest further in his own business. But an employee? Keeping the money as cash in banks/under the pillow would just let it get crushed by inflation would it not? Some might even argue that you're "investing" in cash....the same way many are now "investing" in bitcoin (FTW cos it's so gonna replace fiat currencies...). Haha!

    ReplyDelete
    Replies
    1. Sipping Coconuts,

      If not anyone and everyone can succeed as a corporate warrior (hence so many seek investing to escape), what more about investing?

      What does investing to beat inflation entails?

      1) Does it mean active DIY where one spends 10,000 hours to perfect our craftmanship?


      2) Is it more like being "sold to" - like how most of us "buy" insurance policies? Once we are financially literate we discover most of them are not fit for purpose :(

      (Not I say one hor! MAS did a ghost survey some years back and found only 1/3 of insurance agents sold policies that were appropriate for their clients.)


      3) Perhaps its outsourcing to investing professionals with a fiduciary relationship to us?


      4) Or maybe we opt for the nuclear "Look ma! No brains needed!" solution?



      If one wants to succeed as an employee, self employed, or entrepreneur, which strategy would we adopt instinctively?

      I just find it amusing that when it comes to investing, all of sudden, we can do a 180 degree flip and choose the option requiring the least amount effort and thinking for ourselves...


      That's the irony I'm pointing out!

      Most think they are "investing" - they are not!



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    2. coconut,

      Why?

      But if you want - own time; own target ;)

      Just let me know in advance so I know its you!


      There's a news website called Coconuts too!


      No worries. Won't mixup one.

      Your one no "s".

      And "Sipping coconuts" got this blue and white icon thing next to his nick ;)

      And you are still beautiful!



      Delete
    3. Hi SMOL

      Just because people are investing badly doesn't mean that they shouldn't still invest once they have surplus funds to park somewhere. They just need to figure out the method which suits them.

      It's like exercise, some people do it wrong and get injured, some don't do it enough and see no results, some follow youtube videos and get a -ve result, some engage a personal trainer which is expensive but produces results, some develop their own exercise regime and then start selling videos of their own. To each his own. However, just because their mileage may vary, it doesn't mean that people shouldn't exercise at all.

      Hi Coconut! *wave*

      Delete
    4. Sipping Coconuts,

      I never said don't invest ;)

      By all means experiment and try out different styles and vehicles of investing. That's the crash got sound way of knowing what's best for us ;)

      But if the end result is the more we invest, the more money we lose - and that's what I'm challenging - what's with the doing the same thing over and over again?

      Besides investing, there's the savings path too!

      And if we want to EARN more as there's a limit to SAVE more, there are a lot more paths than investing ;)

      I just find it weird to engage in an activity where we know we are lousy or have no interest in.



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  5. Is trading forex, options, futures even shorting the market also investing?

    So is buying and hold for years like my US portfolio investing?

    What about properties?

    ReplyDelete
    Replies
    1. temperament,

      You have just described the various "vehicles" of investing.

      Investing to me is a competence, a skill if you may.


      Some people the more money they "invest", the more they lose.

      Some just make money no matter what "vehicles" they choose to touch.


      Delete
  6. i think investing is really for peoples who have too much cash.

    The rest of us we try our best and pretend we have too much cash?

    ReplyDelete
    Replies
    1. temperament,

      We do need to have "capital" before we can invest.

      But some smart shepherds have found ways to "invest" without any use of their own capital - they make use of Other People's Money.

      Those victims of scams who promised them fantastic returns, are these victims "investors"?


      Instead of saying the rest of us try our best and pretend we have too much cash, I would think the reality is the majority of us "pretend" we are "investing" ;)

      If we are competent in investing, why are we always seeking to let others tell us what to do?



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  7. Hi SMOL,

    Normal commoners like us need to invest for a better, more secured financial future. But those millennials (富二代) who have billions in inheritance don't need to. In fact, they have the opposite problem. They are running out of ways to spend their fortune. They can't seem to spend their money fast enough. Hahaha! Private jet? Checked! Supercars? Checked! Private yacht? Checked! A few villas? Checked!

    ReplyDelete
    Replies
    1. Hi Dividend Warrior!

      What a rare visitor to this watering hole!


      Going by this "logic", then do normal commoners need to finish their tertiary studies?

      I mean to invest in Singapore, MAS only require us to pass the CKA and CAR tests.

      I'm not even sure we need O' levels to pass the above "cover backside" tests!


      Not optimal right? Our day job is still important right?

      Especially when the biggest compounding growth to our portfolios is the annual contributions from our Earn More and Save More ;)



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  8. Well... If you go into some background of Robert Kiyosaki he's a great salesman and story teller... the concepts are fairly ok... but it's all fiction.
    So basically, he was telling a fictional story about financial stuff and selling it as truth, but hey... that's marketing. Take a simple concept and make it simpler and more palatable for the normal ppl and they slurp it all up.

    ReplyDelete
    Replies
    1. ERSG,

      Yes, not every reader of his books realise "Rich Dad" is a fictional character ;)

      His wealth is real though.

      And where you think he got the cash flow to fund his investments?

      Other bei kambings money!


      Delete
    2. Borrow this book from NLB. It is free! Idea is free. Many have applied the moral of story and made it real and get out of rat race.

      Delete
    3. CW,

      Many???

      As a motivational or catalyst for those who were "receptive", I'll give Rich Dad Poor Dad a thumbs up.

      Come to think of it, it'll fit right in with those Prosperity Gospels!

      But look at HOW you've achieved your financial freedom - does it have anything to do with Rich Dad Poor Dad?

      You've downplayed your own blood, sweat, and tears... You humble guy you!

      Give yourself more credit!

      You mean your multi-taps solution was copied from Rich Dad Poor Dad and not from your own learnings?

      You are not your own 一代宗师?





      Delete
  9. To me, taking care of one's wealth is just as important as taking care of one's health. Ok, I would put it as a close number 2 LOL. So, everyone must "invest". The only question is how. DIY, or entrust others? Just like not everyone can be a doctor, I also believe not everyone can "invest" well. That is the service hedge funds provide. Notice I stressed hedge funds and not traditional mutual funds :) Of coz, the difficulty is finding the good hedge fund managers just like finding a good doctor. Now, in this respect, I would put finding a good manager more difficult than finding a good doctor...

    ReplyDelete
    Replies
    1. Macroanalyst,

      LOL!

      OK, you've not been touched by the "spiritual" path yet ;)

      You do realise you are speaking as vested interest, do you?


      As I walked into the wet market, the fishmonger would say eat fish is healthy! Everyone must eat fish!

      Then the pork seller would beckon me, and with best of intentions, exhort me to eat pork! No eat real meat how to grow big and strong? (But what if I Chinese Muslim?)

      Further along, the vegetable seller would smile as she bellowed out to me, "Eat vegetables more healthy! Best be vegetarian!"

      Walking past a gym, the billboard will scream everyone must exercise!

      Wait a minute. This feels like:

      The father and son and their mule


      Delete
    2. Just as every doctor speak with a vested interest you mean ;) You'll be surprised how much trading and spirituality have in common. The more I trade, the more "spiritual" I feel haha.

      Delete
    3. Macroanalyst,

      Exactly ;)

      Everyone is a "vested interest" - even if we don't benefit from it monetarily.

      Why then do so many of us like to give "free" advice to others?

      Ego.

      When we have followers or listeners, we are the alpha, the shepherd, the pipe piper, the Indian Chief ;)

      No one gives free advise to others who are stronger, richer, more beautiful than them... LOL!


      Now you are talking! Trading helps a lot in my Zen cultivation!

      I suspect that's why so many avoid trading. Its never about the money. Those who trade do discover a lot more about themselves; and its not always pleasant to meet the demons in us :(


      I'll be nice. I'll assume the reason you put health first, then wealth second, is because you have placed "spirituality" as part of mental health. Wink.

      LOL!



      Delete
    4. Your mention of demons reminds me of the song by Imagine Dragon. Great song by the way. Many choose to avoid demons, but it is by facing our demons that we become stronger.

      Delete
    5. Macroanalyst,

      That's a nice song indeed!


      We are craftsmen.

      Enough said ;)







      Delete
  10. Hi smol

    I start reading singapore bloggers post on investing late 2016.
    But recently I see a blogger start to ask for subscription fees in order to read their post & a blogger have create their own funds asking any1 interested to join & some forum have people offer trading service bla... bla... bla...
    Have u encounter this before? I am thinking is this a sign of middle or last bull or market getting less fear???
    I just got a weird feeling so jus come here talk talk see any guidance or not :)


    Cheers
    Sy

    ReplyDelete
    Replies
    1. sy sy,

      Your spider sense is tingling ;)

      LOL!

      If you have gone through 2000 or 2007 before, trust your gut instincts ;)


      1. By the way, a lot of the new blogger/business people started AFTER 2009; they have not been tested in a bear market yet ;)

      2. In Singapore, to manage funds for others, you need to have MAS licencing:

      MAS FAQs


      Several years back, one financial educator went to jail for managing funds without a fund manager licence.

      And then there's the property scam by this woman who operated a "property fund" involving millions in Orchard Road properties. Evidently her high networth investors don't even care whether her "fund" regulated or not?

      I've yet to see a financial blogger go to jail in Singapore; other countries have for pump and dump scams.

      Its a matter of time.

      Just like those gold trading scams only "broke" when gold dived from USD1,900 to USD1,000 - we need a bear market to lift the scales covering the eyes of bei kambings...

      Go to CW's blog.

      He got share those "famous" bloggers who disappeared after 2008.

      Its like this every cycle.





      Delete
    2. Paiseh... me only start invest I stock late 2016 also... I didn't really know what is happening during that 2000 & 2009... only know got big bear.... hehehe
      Thanks
      Sy

      Delete

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