I can only say warriors deserve to eat, live, and earn better than the rest of us.
Why?
Because we all know most warriors die in battle ;)
90% of new businesses fail during the first two years.
How many commission only salesperson can make it as top sales earning millions without any safety net as in basic salary?
For every actor that made it by earning 10 million per movie deal, how many are still waiting on tables or bartendering while waiting for their big break?
No, you don't "win" just by calling yourself a warrior.
You win by BEATING the rest of the warriors out there ;)
Some ppl like take risk. Some prefer stability. There are no right or wrong decision. What seem wrong to one, might be right to another. To each of own. Comfortability is the way to go as per my view.
Hope is one aspect. However, it's better to be prepared for such circumstance just in case. Change is only constant. Preparedness is best way to handle such uncertainty.
If you truely risk adversed, you would be working for others (and let others decide your fate).
Instead what have you done? You have your own medical practice ;)
Don't forget to do cheerleading once in a while to your locum doctors OK?
Part of leadership (shepherding) is the motivation of your flock to be faster, better, cheaper!
LOL!
You landowner you!
No, the REAL diversification of risk is your business.
Or to be precise, its the cash flow your business is generating that keeps you even-keeled.
Your stock porfolio can be cut by 50% like in 2008, and you'll be fine. Can even go bargain hunting!
But for those other yield hogs who don't have your cash flow generating ability...
Well, I don't think they have earned the right to say out loud they don't care about unrealised losses, just as long they can continue to collect dividends...
See what happens when dividends were cut or suspended like in 2008/9, and they get retrenched :(
It depends on individual's risk appetite. You have a valid point for not risk-adverse. By spreading your asset into many counters, is akin to spreading the risk. This is also considered as taking a minimal risk as per my perspective. To each of our own.
hi gerald and ben, personally i have witnessed how poor money management have brought down even the brightest to their knees. my business is a small one. but i pay competitively in order to attract good people to help me. it cannot be more shocking when a university professor coming knocking on ur door for a job, not once but twice. then he got the message it also equally shocking when a ceo of a 100m company come to ask the boss of a "minute" company for a job. risk is something that has to be adequately addressed and managed to cover most if not all angles. these life examples tell me that the possibilty of hero to zero is very real if these are not properly taken care of.
Cannot get complacent; yet cannot be too risk adversed like putting all our money in CPF :(
Its a balancing act.
Ah! You also practice To Insure Performance (TIP) by paying your shepherds competively :)
Who wants to work for a miser?
There has been seismic change to the study hard and work hard model, and big daddy has the front seat.
You have your encounters, I have mine with ex-colonel and ex-MD now working as taxi-drivers.
There's a reason why a lot of resources are now being poured into the Workforce Singapore Agency (WSG) to support retrenched PMETs get back on their feet again...
Not everyone can keep up with the fast changing economic landscape.
Not when every industry can be "disrupted" with new innovations and technologies :(
And the best form of defence is attack.
Hence the changes to our education policies; albeit at boiling frog slowly pace...
We need more dreamers to chase rainbows so they can create new businesses and employment opportunities for the rest of us!
King Yoland is a successful risk-taker but declares that he does not like too much risk. This concurs with my experience of meeting other successful risk-takers. When they have nothing to lose, be 大胆. When they have become successful and have much to lose, be more 胆小. Makes logical sense from a risk-reward perspective. I bet the King was a 大胆 young man since he is a successful warrior. Singapore needs more people like you!
Why is the King called Ang Gong Gong? What does Ang Gong Gong mean? I'm not Hokkien. If it is some secret between you two, then no need to explain.
Whether to take big risks in life is one of those "know yourself" questions.
Our government has been exhorting Singaporeans to be more risk-taking so that more will become entrepreneurs. If enough Singaporeans blindly follow big daddy's call without knowing themselves well enough whether they are suited for the challenge, we will end up with social problems because most will fail. The desired outcome is to have the top echelon of the population who have the brains and ambition to answer this challenging call. Yet, I think the government played a big role over the years in building a too-comfortable environment in the civil service which has held back the risk-taking, entrepreneurial instincts of the top echelon. Today, the civil service provides a golden and relatively iron rice bowl. It does not make sense for talented Singaporeans in the civil service who have a low-risk, high-paying job with good work-life balance to take on high risks, low or negative starting pay, zero work-life balance as an entrepreneur. In fact, I know of friends who only want to work in the civil service. They don't even want to take the risk of working in the private sector because of the higher risk of losing job. Indeed, if MOE teachers and poly lecturers are working in the private sector today, many of them would have been retrenched due to the serious drop in student population, regardless of how competent the teachers are in their jobs. It is not conducive in building a risk-taking culture when it is more rewarding to be risk-averse for our best people. Pay good salaries to our civil servants, by all means. However, do not overpay on a risk-adjusted basis because the private sector, which is the true wealth creation engine of the economy, will be held back because fresh blood prefer to become bureaucrats. Having said that, I admit my personal preference is also to become a bureaucrat if I were a fresh graduate with straight-As track record. LOL.
No study and Chinese educated have to take more risks as no choice - 2nd class citizen mah...
So start own business or do sales to even the playing field. Meritocracy at its finest!
Those can study have option to play it "safe" by working for big daddy.
Having said that, if its in our blood, cannot suppress it one...
There are scholars, once having served the required bond period, will immediately run to private sector. They rather be CEOs than permanent secretaries...
Then there are those who dare to quit university or a good paying job to start their own businesses.
High chance of failure, but how else to become a multi-millionaire before 40?
Those less ambitious and risk adverse can settle for FIRE goals?
P.S. Big daddy dare not touch teachers. Those who are more entrepreneurial have already left to start their own tuition or coaching academies.
We still have a population growth target to hit. Students will come -either organic or imported ;)
Warriors win
ReplyDeleteCW,
DeleteI can only say warriors deserve to eat, live, and earn better than the rest of us.
Why?
Because we all know most warriors die in battle ;)
90% of new businesses fail during the first two years.
How many commission only salesperson can make it as top sales earning millions without any safety net as in basic salary?
For every actor that made it by earning 10 million per movie deal, how many are still waiting on tables or bartendering while waiting for their big break?
No, you don't "win" just by calling yourself a warrior.
You win by BEATING the rest of the warriors out there ;)
The last warrior standing wins!
P.S. Oh! And warriors are not herbivores...
No meat where got str to fight?
DeleteWe Want m.e.a.t
Makan every any thing. Haha
Small Time Investor,
DeleteMakan everything and anything is the reason why humans and other omnivores have thrived so well ;)
No meat; eat grass lor!
Those who can't Earn more, at least there's plan B as in Save more ;)
The best is of course can do BOTH!
I'm with you on no meat how to fight?
Risk taking is about Earn more ;)
Sigh...
ReplyDeleteI risk adverse
Sillyinvestor,
DeleteIts OK.
We are who we are.
Avoid leading and guiding others if its not in our blood.
October is Santa Claus month for stocks .... coz it often starts out red like Ole Jolly's suit! :)
ReplyDeleteAm nibbling on some ETFs & UTs last couple of days.
Will probably still be volatile next couple of weeks. Looking to buy more heheh!
Risk-on assets still fundamentally strong especially in the US.
E.g. Comparison between discretionary & staples ETFs:
Currently as at 12 Oct 2018
Back in 2007
Back in 2000
Can use other risk-on vs risk-off assets to compare, such as global equities versus bonds/Treasuries, tech versus utilities etc.
They all tell pretty much the same thing.
I'm glad we are having a sharp waterfall type of price dislocation ... this is the type that clears sentiments & helps to clean the slate.
Worst is those slow grind down month after month after month for like 12-24 months.... :O
Spur,
DeleteYou are not the typical Singapore stocks only panda!
I see your poisons of choice are ETFs and unit trusts...
A top down guy ;)
To go nibbling when its a sea of red... You definitely embrace taking calculated risks!
You fearless you!
Funny how despite you long and I short, we both are on the same side of the trade yesterday!?
You bought; I covered my short :)
Tell me about it! 2017 was painful and so boring for me :(
This year at least got Feb and this Oct ;)
Hi Smol,
ReplyDeleteSome ppl like take risk. Some prefer stability. There are no right or wrong decision. What seem wrong to one, might be right to another. To each of own. Comfortability is the way to go as per my view.
Ben
Ben,
DeleteI am perfectly fine with those who take more risks - earn, eat, and live better than me ;)
Like you've said, we live comfortably as who we are.
What I fear are those "communists" and "socialists" who like to pull everyone down to their level.
I like Singapore. No system is perfect; meritocracy suits me fine :)
What's happening in the States is a bit scary... Let's hope that wind don't blow over here...
Smol,
DeleteHope is one aspect. However, it's better to be prepared for such circumstance just in case. Change is only constant. Preparedness is best way to handle such uncertainty.
Ben
Ben,
DeleteYou think why I have some rabbit holes outside of Singapore?
I'm a citizen of the world (OK, there goes my good citizen award).
And I'm Teochew:
Where got shade, where I sit ;)
i don't like too much risk
ReplyDeletethats why i studied and work so hard.
and i have so many counters in my portfolio
Ang gong gong,
DeleteYeah right...
If you truely risk adversed, you would be working for others (and let others decide your fate).
Instead what have you done? You have your own medical practice ;)
Don't forget to do cheerleading once in a while to your locum doctors OK?
Part of leadership (shepherding) is the motivation of your flock to be faster, better, cheaper!
LOL!
You landowner you!
No, the REAL diversification of risk is your business.
Or to be precise, its the cash flow your business is generating that keeps you even-keeled.
Your stock porfolio can be cut by 50% like in 2008, and you'll be fine. Can even go bargain hunting!
But for those other yield hogs who don't have your cash flow generating ability...
Well, I don't think they have earned the right to say out loud they don't care about unrealised losses, just as long they can continue to collect dividends...
See what happens when dividends were cut or suspended like in 2008/9, and they get retrenched :(
Investing is your side-hustle ;)
Hi King Yoland,
ReplyDeleteIt depends on individual's risk appetite. You have a valid point for not risk-adverse. By spreading your asset into many counters, is akin to spreading the risk. This is also considered as taking a minimal risk as per my perspective. To each of our own.
Ben
hi gerald and ben,
ReplyDeletepersonally i have witnessed how poor money management have brought down even the brightest to their knees.
my business is a small one. but i pay competitively in order to attract good people to help me.
it cannot be more shocking when a university professor coming knocking on ur door for a job, not once but twice. then he got the message
it also equally shocking when a ceo of a 100m company come to ask the boss of a "minute" company for a job.
risk is something that has to be adequately addressed and managed to cover most if not all angles. these life examples tell me that the possibilty of hero to zero is very real if these are not properly taken care of.
Ang gong gong,
DeleteYup, risks have to be managed.
Cannot get complacent; yet cannot be too risk adversed like putting all our money in CPF :(
Its a balancing act.
Ah! You also practice To Insure Performance (TIP) by paying your shepherds competively :)
Who wants to work for a miser?
There has been seismic change to the study hard and work hard model, and big daddy has the front seat.
You have your encounters, I have mine with ex-colonel and ex-MD now working as taxi-drivers.
There's a reason why a lot of resources are now being poured into the Workforce Singapore Agency (WSG) to support retrenched PMETs get back on their feet again...
Not everyone can keep up with the fast changing economic landscape.
Not when every industry can be "disrupted" with new innovations and technologies :(
And the best form of defence is attack.
Hence the changes to our education policies; albeit at boiling frog slowly pace...
We need more dreamers to chase rainbows so they can create new businesses and employment opportunities for the rest of us!
Is ex-colonel retired on pension and driving taxi?
DeleteCW,
DeleteSorry, it never occured to me to ask ;)
Does it matter?
We wouldn't know whether the Colonel drives a taxi because he enjoys the freedom and peace away from office politics... And for the fun of it!
Or he no choice because has blown his retirement savings on wine, women, and song...
Or like that contractor business owner, lost it all through "investing" in the stock market :(
Ouch!
King Yoland is a successful risk-taker but declares that he does not like too much risk. This concurs with my experience of meeting other successful risk-takers. When they have nothing to lose, be 大胆. When they have become successful and have much to lose, be more 胆小. Makes logical sense from a risk-reward perspective. I bet the King was a 大胆 young man since he is a successful warrior. Singapore needs more people like you!
DeleteWhy is the King called Ang Gong Gong? What does Ang Gong Gong mean? I'm not Hokkien. If it is some secret between you two, then no need to explain.
hyom hyom,
DeleteGo to his website - ang gong gong (pronounce it in Hokkien)!
Those who have substance got humility ;)
Unlike empty vessels like me who talk so much!
Whether to take big risks in life is one of those "know yourself" questions.
ReplyDeleteOur government has been exhorting Singaporeans to be more risk-taking so that more will become entrepreneurs. If enough Singaporeans blindly follow big daddy's call without knowing themselves well enough whether they are suited for the challenge, we will end up with social problems because most will fail. The desired outcome is to have the top echelon of the population who have the brains and ambition to answer this challenging call. Yet, I think the government played a big role over the years in building a too-comfortable environment in the civil service which has held back the risk-taking, entrepreneurial instincts of the top echelon. Today, the civil service provides a golden and relatively iron rice bowl. It does not make sense for talented Singaporeans in the civil service who have a low-risk, high-paying job with good work-life balance to take on high risks, low or negative starting pay, zero work-life balance as an entrepreneur. In fact, I know of friends who only want to work in the civil service. They don't even want to take the risk of working in the private sector because of the higher risk of losing job. Indeed, if MOE teachers and poly lecturers are working in the private sector today, many of them would have been retrenched due to the serious drop in student population, regardless of how competent the teachers are in their jobs. It is not conducive in building a risk-taking culture when it is more rewarding to be risk-averse for our best people. Pay good salaries to our civil servants, by all means. However, do not overpay on a risk-adjusted basis because the private sector, which is the true wealth creation engine of the economy, will be held back because fresh blood prefer to become bureaucrats. Having said that, I admit my personal preference is also to become a bureaucrat if I were a fresh graduate with straight-As track record. LOL.
hyom hyom,
DeleteWe are who we are ;)
No study and Chinese educated have to take more risks as no choice - 2nd class citizen mah...
So start own business or do sales to even the playing field. Meritocracy at its finest!
Those can study have option to play it "safe" by working for big daddy.
Having said that, if its in our blood, cannot suppress it one...
There are scholars, once having served the required bond period, will immediately run to private sector. They rather be CEOs than permanent secretaries...
Then there are those who dare to quit university or a good paying job to start their own businesses.
High chance of failure, but how else to become a multi-millionaire before 40?
Those less ambitious and risk adverse can settle for FIRE goals?
P.S. Big daddy dare not touch teachers. Those who are more entrepreneurial have already left to start their own tuition or coaching academies.
We still have a population growth target to hit. Students will come -either organic or imported ;)