Who knew O' levels would be scrapped in my lifetime?
Subject-based banding to replace streaming?
Now that's what I call progress!
I'm happy for youths of tomorrow.
Respect to big daddy for recognising the unintended problem of "labelling" from the streaming model. Yes, streaming cuts down the number of school dropouts, but it created a "caste system" in its wake..
Regular readers know how I feel about "labelling". Yup, calling yourself an "investor" does not make you more competent or skilled.
For those of you who understand Mandarin, you can watch this Youtube clip:
《地球上的星星》 - 20 minutes long.
For those of you who can read English, if interested, you can watch the full Hindi movie with English subtitles here:
Taare Zameen Par - 2.5 hours long.
If the actor looks familiar, he also appeared in my ancient blog post here:
The 3 idiots - Inspirational and philosophical movie!
No. What we have done is not "new" or revolutionary. Many other countries and education titans have discussed and explored it before. Both today and during ancient times - think Confucius and Socrates. Yeah, that old!
The biggest difference is big daddy dare to squeese the trigger and implement it on a nationwide basis. Power!
Feels good and proud we no longer need to rely on the Cambridge "halo" after so many decades...
Singapore is already an education hub for the region today. Just look at the diversity of foreign students that come to Singapore to study - from primary to the tertiary level.
I guess just putting Singapore on our certificates and diploma is enough to win academic respect from employers and foreign universities alike. Wink.
Don't pretend you were surprised with the changes. You knew it was coming.
Where got people during national day rally speech talk about competence and down playing of paper qualifications?
You forget the speech by pinky about O' level holders being generals and CEOs already?
We need subject on trading and investing and take national level test
ReplyDeleteCW,
DeleteWe are moving from paper qualifications to competence and skills.
How will taking and scoring distinctions on paper exams make us a better "investor" and "trader"?
Just ask why those who took Business Finance or MBAs why are they not more profitable in their investing?
If competent, why on earth would they voluntarily contribute to CPF!!!???
Okay. Look like the current form of training on trading or investing by gurus won't change for next 20 yrs. Competency or skill training with no exam.
DeleteHi SMOL
DeleteSubject learning & training not just paper based. Can be kinesthetic and skill based too. E.g. healthcare areas such as doctors, surgeons, nurses, therapists.
Or how about car mechanic & aircraft technician? :)
For investing & trading, currently is either self taught or apprenticeship for those who managed to sweet talk their way into relevant bank / fund company roles.
Nobody interested to provide as formal course of study with nationally recognised certification. I think maybe failure rate will be too high?
CW,
DeleteTheory with exams is like learning the terminology of preference shares and perpetual stocks.
Can give a perfect definition so what?
Its knowing the differences in PRACTICE that matters!
Preference shares are a lot "safer", hence the lower yields. What we gain in "safety", we sacrifice in bonus or speccial dividends forgone...
Perpetual securities are the lowest of the low as some have discovered the hard way... The question to ask is the 2-3% extra yield enough to compensate for the greater risks taken?
You can't learn this in books or courses.
Spur,
DeleteI would think its the reverse, passing rate will be too high! If its just a written test like O' levels or A' levels!
Now we are talking!
Competence and skills come from actual application in practice - like in the professions you have mentioned ;)
I wouldn't want to go to a doctor who only learn from books and lectures without going through the grind of their housemanship!
Same for car mechanics or hair dressers. We rely more on the feedback of satisfied customers more than the diplomas on the wall right?
I guess some will always be confused between book knowledge and competence and skills.
For men, I would suggest we look at Officer Cadet School or Specialist Cadet School as the example we all can relate to for competence and skills training.
If we can't perform, we are kicked out of the course. Simple as that!
And that's how institutional traders learn in prop trading houses, investment banks, and mutual/hedge funds too ;)
Definitely not the workshops or courses for retail bei kambings looking for 10-year series answers.
Ouch!
For medical line, S'pore courses are about 40%-50% clinical-based (mostly hospitals) and these are assessed & graded. Paper exams count at most for 50%-60% of the total grade points. Doctors will still need to pass their 1 year housemanship, while nurses/therapists go thru about 3 final months of "housemanship" as part of their basic training. There are cases of people who do well in paper exams but fail their clinical practices or housemanship.
DeleteLament of a local doctor
No wonder so many of them leave public hospitals to go into private practice, or even become part-time GPs (can still earn $10K a month :))
Btw, no need to wait 3 or 4 years of residency before starting post-grad specialisation. Most local doctors will start their post-grad studies part-time about 1-2 years of becoming an MO.
As for trading/investing, exams/tests can simply be working with an initial principal of $50K and grading the performance after 6 months or 1 year. Plenty of demo accounts for paper trading. Final exam can be using own actual money. :)
Spur,
DeleteThere's a young blogger who put in his resume he worked as a "prop trader"; trying to impress the bei kambings.
Little did he know for those of us who know, if you worked as a prop trader for less than 2 years, that meant you "failed" or "can't make it"...
That's a negative instead of a plus. Especially when he is now into the financial education industry.
But then, bei kambings are like white paper; you say anything they believe!
For trading, your example may work. We just need 1-2 years and we'll know whether we have it or not.
But for investing, we need a full bull/bear cycle... And that may take 10 years!?
I've heard one financial educator "blame" his students for not sticking to the "plan" when the students complain about losses...
Pay money to kenna scolded by your "guru" and still end up with one day I'll breakeven?
Hi SMOL,
DeleteThanks for sharing. Learned another new thing today.
I have been noticing a similar phenomenon too. Another young blogger who declared he will be getting 100% returns per annum has strangely gone missing. I wonder why.
Unintelligent Nerd,
DeleteIts easy to become firecrackers or fireworks for a moment.
I do worry if I am one of them too :(
Longevity in trading and investing cannot be taken for granted; not when I see quite a few well known hedge fund names retiring in recent years...
And in our community, when I see veterans suddenly take a liking towards CPF, its a sign they view their past "success" as more LUCK than SKILL...
Kick me if you see me talking up CPF.
That means I've capitulated too :(
Investing and trading NOT easy.
Hi SMOL,
ReplyDeleteThe first thing when I heard the news is whether my job will be affected. After some thought, I think nah...same or perhaps better, LOL
In the end, I still have to pay the bills mah haha
LP,
DeleteWhen parents are confused with the changes, you'll get more business!
And when parents finally figure it out its empowering their children to decide for themselves, you'll get more business too!
LOL!
Panic only when no one pays attention to grades anymore ;)
Hi all,
ReplyDeleteSuch change will benefit the late-bloomers.
Ben
Ben,
DeleteThe new philosophy is "My Pace".
A student who is now in "Normal" stream can in the future and take Math at the highest level - if that's his or her strength - while taking languages at the foundation level.
And we no longer "punish" the late developers like you say.
I lucky to escape streaming during my time.
If streaming was done when I were in primary 3, I would probably end up with the then primary 8 scheme...
I had a sea of red during primary 3; and managed to get promoted to primary 4 by the skin of my teeth!
Who knew after PSLE, I would end up at a then Top 10 ssecondary chool?
LOL!
SMOL,
ReplyDeleteIt's the matter of reacting to the prevailing circumstance. Such circumstance will not be applicable for you and me who are in another stage of life.
Ben
Ben,
Delete;)