Warren and Charlie poking US Business Schools

 

When Charlie said they "morphed" into buying better companies when they were underpriced...

I'll leave it to you to decide whether that's "market-timing". 

Market Timing

 

There are 2 groups of people who would shill it's pointless to do market timing:

1)  The "too free" and no skin in the game academics; and

2)  the sell-side investment snake oils targeting mainly retail clients.

 

Academics

Let's start with the obvious. In your financial freedom journey, the last thing you would want is to be like them. Correct?

No? 

OK, name one academic that's your No. 1 fan favourite when it comes to Earn More/FIRE/Investing... 

I'm not a fan of Warren Buffett (I like Charlie more), but I can't help but love the humorous "pokes" Warren and Charlie often make at the expense of the academics.  

Not just the so called financial "wisdom" taught in Business Schools, but quite a lot of the management "bullshit" taught that don't quite make sense to Warren and Charlie (those that actually run businesses)!

For those who love to parrot what others say to appear "smarter", I mean, who dares to question academic thesis like the Market Efficient Theory; Time in the Market; Modern Portfolio Theory; etc?

But the awkward fact remains to top performing Hedge Funds and well-known investors (like Warren and Charlie) out there, most do the opposite!

Which makes intuitive sense... How can anyone outperform others if they just do the same as everyone else???

Ding!

Sell-Side Snake Oils

I feel embarrassed to even mention it.   

I would think it's so obvious to everyone and anyone. 

But the sad reality is that many have never worked in sales before, and have no clue what talking me...

Look, if I'm a competent sell-side snake oil, and I see risks of a market correction coming, I would advise my own family members, best friends forever, and best clients to raise cash and dial down risky positions.

But to new bei kambing retail clients, what you expect me to say?

Tell them don't buy? Come back to you after a market correction?

Like that who will pay for your mortgage next month? 

Put food on the table tonight?

And allow you to bring your whole family to Europe this coming summer?

Of course, it's any time is a good time to invest!!!

 

 

P.S.   Anyone would like to hazard a guess why I left out trading for this statement below?

"OK, name one academic that's your No. 1 fan favourite when it comes to Earn More/FIRE/Investing..."

Aren't You Glad You No Longer In School Today?

 

Remember streaming?

Now no streaming.

Full subject-based banding anyone?

From "precision" in PSLE school results to reducing fine differentiation in students' examination results at a young age.

From credentials and paper qualifications to skills and competencies?

Have you noticed it's moving in the direction of grey?

The muddier the better?

Look, big daddy is one of the biggest (if not the biggest) employer of their own "creations".

It got a front row seat in receiving immediate crash got sound feedback whether we Singaporean employees can make it or can't make it...

Mind you, our Singapore education system is highly respected worldwide. Our students often come out on top globally in Math and Science.

Hence this post is not a knock on big daddy; in fact its complimentary. Wink.

If you are tertiary educated in your 40s or 50s, and feeling very stressed with the constant changes and competition globally (using FIRE to escape), you may want to take the time to understand why big daddy spending some much time and resources making all these education reforms over the years?

Why the emphasis by big daddy today is not the first 15 years of our youths' formal educational years, but the last 50 years of their working lives? (Hint to youths - retirement age 70 is coming for you)

Perhaps it's to prepare our children so they don't become like us?

Very easy to tell whether our youths of tomorrow will become better prepared than us old fogeys.

I'll be very surprised if this FIRE thingy will be still a thing 10-20 years later.

Who will pay up to be told how to trade/invest when youths of tomorrow can think for themselves and get themselves educated on their own? 

Isn't that having the joy of learning and continuous education all about?

And why FIRE when we are happy doing the things we love?

Financial snake oils, you are on borrowed time. 

But no worries, you just have to relocate to countries where the people there are mostly bei kambings that love to be told what to do. 

Why I say this post is complimentary to big daddy?

Can you imagine how hard and difficult it would be to govern and rule over cats of the future???

But the good thing is that when citizens can think for themselves, we would more likely have the common sense to be like the Swiss who voted against Unconditional Basic Income in June 2016.

Can you trust the majority of Singaporeans saying no to "free" money today? 

Some would probably declare they have reached LEAN FIRE if the Universal Basic Income is similar to CPF Life as in $1,000 plus per month?

Take the money and "retire" to Bali or Phuket on the cheap?

   

Crypto Monotheism Versus Polytheism

 

I don't own cryptos or shares of companies related to cryptos.

Hence, I'm not talking my own book here.

But I'm impressed with the price action of cryptos recently during the banking troubles in US and Switzerland. 

Aren't you?

I've noticed an interesting phenomenon amongst the crypto believers. There are 2 major camps - the Monotheists and the Polytheists.

The Monotheists believe there is only ONE true crypto. Everything else is just bullshit. 

The Polytheists believe in anything and everything. Just as long the story is compelling! 

As a crypto "atheist", I'll just stand aside and watch from the opposite bank with interest.

I mean even if you into crypto, it's something you ultimately have to resolve amongst the believers.

Crypto believers out there, are you a Monotheist or Polytheist?

It's like real life.

Even if you believed in religion, your fate isn't better than the atheists and agnostics out there if you died and discover,

"Shit! Wrong religion!"

 

You Can't Avoid Risks - Even If You Save More

 

And that's the frustrating and super exasperating experience for risk averse savers, isn't it?

Imagine waking one day to discover there's a bank run on the bank you have most of your savings in!?

Or to learn the insurance company you have bought all your insurance policies from is going bankrupt?

And the kicker is you not even a speculator on the Earn More path!!!

Imagine telling your Save More family members they got to monitor the financial well-being of their banks and insurance companies (if CPF must follow Singapore's economy/population statistics)!?

They would probably tell you if they must do all these due diligences, they might as well just hop on the Earn More path and speculate on the shares or bonds of these financial institutions instead!!!

Wait a minute... 

Now that's a thought!

 

 

Don't Ever Say...

 

How to spot those "investors" who have decades in "retail investing" but actually are those "grey old lambs" that have 1 year "investing" experience times 30? 

"If this stock/listed company fails, Singapore will collapse too lah!"

Well, Credit Suisse is the no. 2 in Switzerland.

There's also Deutsche Bank but that's a story for another day... Rising interest rates in the Eurozone should help them out (for now). 

For those of us who went through Lehman 2008, remember AIG?

AIG was rescued, but the shareholders only got back 10 cents on the dollar.

The same for Silicon Valley Bank - the depositors were bailed out like those insurance policy holders at AIG, but if you were the shareholder or bond holder...

Then for our very own Hyflux, you'll see in the forums how some expected to be bailed out - thinking water is "strategic" to Singapore...

Bei kambings we don't say as it's their first crash got sound experience with major losses,

"Eh? Stocks don't always go up???"

But some who lost money in Hyflux have decades of "experience"...

How else to explain except first year experience times 30?

Equities and bonds are Earn More vehicles.

The problem is when we treat them as Save More vehicles...

Especially those who have been on the "passive" Save More path for decades. 

In their late 50s or 60s, flushed with lots of cash, suddenly feel they should Earn More as compared to their peers who made a lot more with properties or equities, they have fallen behind quite a lot... (Selective perception - only see those who made money, ignore those who lost until pants drop)

It's like the iceberg analogy. 

What you don't see when Earn More craftsmen made money are those chopped fingers (like Yakuza members), battle scars, and nights of stomach churnings when they bought while others sold; or sold while others bought...

Sure. Walk in nonchalantly with just a goal and a plan. 

Well, they worked for Save More, doesn't it?

Yup. It sure does!

But you forget. Save More most of it is within your control. Discipline anyone?

How many factors of Earn More are within your control?

Ding!

 

Mask Free At Last!!!

 

Even happier is I got confirmation this morning from my sales colleague next weekend no masks needed too!

3 years...

Nope. Not gonna wear masks on the trains and busses later on when I go out.

But I will wear a mask in public when I visit the doctor or not feeling well going forward. That's being socially responsible.

I don't want to spread my illness to others. Even if it's just the common cold.

I do hope Singapore will become like Taiwan or Japan in this regard. But I not keeping my hopes high...

I'll just do my part. I not going to Indian Chief others what to do.

 

Then what's with this "arguing with the STOP sign" post?

Notice there's quite a lot (maybe majority) of Singaporeans thought wearing masks can "protect" them from the Wuhan virus?

I on the other hand belong to the camp that sees wearing masks as a way to prevent us from "inadvertently" spreading our illnesses to others.

Same, same; but different.

One group is motivated by "greed". 

Greed for life... I, me, and myself come first. 

The other side is more torn apart by "fear".

Imagine the guilt to know you have caused others harm... No matter how inadvertently...

Knowing what buttons to press is key if you want to influence others.

If you're a fledgling snake oil, don't say old fogey snake oil me never support you.

I've just revealed a bit of cleavage; I don't do full nudity.

The rest you figure out for yourselves!

As always, make money don't forget to buy me kopi!

Nope. I Not Gonna Bite

 

Read the physical Kopitiam discount card will be discontinued by end June this year.

OK lor. No discount no discount lor.

Nope. Not gonna be corralled like sheep. I won't bite.

I mean eat at Kofu I also never download the app for 10% discount.

Same for my favourite fast food McDonald, I also never bothered to download the app.

You mean to tell me if you hungry, got Kofu or Burger King in front, you'll make a big detour to Kopitiam or McDonald, just because you want to enjoy the 10% discount or to earn points for free meals?

OK...

My friend whatsapped me the DBS PayLah! $3 promotion every Friday.  

Huh? You want me to get up early Friday to "rush" so that I can beat the 100,000 customers only limit? 

Free? Got to jump through hoops... It works better on puppies. I too old and "cat like"... 

No. Hungry eat; tired rest.

 

If you really that "kiasu", don't want to miss out on every freebie or discount, then don't complain your smartphone got 1001 apps!

That's the trend going forward.

I know what big daddy is doing. Laying the groundwork for that eventuality.

It's OK.

I'll enjoy my current "I have a choice" until that day comes.

 

Look Within To Determine Whether You Should Top-Up Your CPF

 

Warning.

Super long read. I'm not kidding!!!

It would be a pain if you try to read it on your mobile. 

More importantly, this post is not for casual reading. 

You need to face yourself in the mirror one. If not, it's pointless and just wasting your time...

If still interested, recommend you read it at home on your PC, notebook, or tablet when your mind is calm and rested.

Let's get the rules of engagement out of the way:

1.  I did not ask permission from the authors of the below blog posts to post the links here. Their posts were in the public domain. I not plagiarizing them OK!?

2.  Any bouquets or compliments should go to them directly. I "steal with pride", but I don't "steal" accreditation.

3.  If you don't agree or have problem with their writings, please deal with me directly. 

"Wait, wait! Let me get my maggi mee pot to protect my head first!

OK, send your sticks and stones my way. I'm ready!"

Read this before you top up your CPF

Very balanced post on CPF top-ups! One of the better ones out there...

It's written in collaboration with CPF. I saw the same post reproduced at CPF's website. 

Smart move by CPF! That's how you "Hong Lim" proof your ass!

Does Market Time Works Better Than DCA?

OK, Brian didn't set out to write about CPF; I bet he didn't know his post works great as unintended counterbalance to topping up our CPF!!!

If you're a snake oil financial advisor, you would use the same arguments from Brian to create FOMO (fear of missing out) with your clients, no?

"Don't be stupid lah!? Cash (and T-bills and CPF) will rot if you don't invest! See how much money you're leaving behind on the table long term!?

Even if you're the world's worst market timing Charlie Brown investor, you would still come out on top over "kiasi" savers hiding behing their so called "risk-free" Save More vehicles!"

Why snake oils so interested to help you get rich?

Because you can't make money recommending others to voluntarily top-up their CPF. But once bei kambings bite on Earn More vehicles, that's where you can start to milk and fleece through commissions and fees... Wink.

However, most don't see the "bait-and-switch" routine by some next level snake oils. 

It's like you advertise a super low price for a TV or notebook computer. Once your sales funnel got sucked into your showroom, this is where you start to upsell and cross-sell them all the bells and whistles! 

Ar ber then?

Ask those who walked into the showroom for 1M65, and walked out with 4M65. Kaching!

Trust but Verify

In my old job, I never trust a statistic that I've not personally manipulated myself.

Before I go on, let's poke holes in the 2 blog posts above.

Anyone who knows something about statistics will know we can data-mine whatever past data to suit our own thesis. 

 

Right off the bat I think those who are more well-read will find the Woke Salaryman's 10.7% annual return for S&P is a little too "snake oil". 

Let's use 8%. Including re-invested dividends.

As for CPF, anyone who use 5% or 6% is just showing they have very little money in CPF. 

Stick with 4%.

As for Brian's Cash returns, it's from a period of low interest rates in the States. Let's use 4%; same same as CPF.

Now you can generate your own "more conservative" statistics. What? You don't trust your own statistics?

How?

It doesn't change the fact that Earn More (not guaranteed and only a faith thing) will always beat Save More (guaranteed but no bragging rights).

That's a given.

Look Within

All I've said above is actually bullshit!!!

That's left-brained stuffs. It gives the illusion of "precision" (10.7%), but when you think about it, it's all based on assumptions, faith, and pure straight-line extrapolation. 

Now try my right-brained voodoo.

You know yourself.

Are you always envious and very jealous when others do better than you?

Were you angry and upset others were selling their HDB flats for above a million? Nothing to do with you, but yet you super "buay song"...

Now imagine you managed to reach 1M65, would you be totally fine to see your peers hitting 4M65 because they used their CPF to make money in properties or stocks?

Or would you turn around and petition CPF is for retirement! Take away CPFIS and ban the use of CPF for 2nd property... (Sounds familiar to HDB is for living only?)

You "upgraded" from a bigger HDB flat in best location mature estate to a much smaller and more "ulu" location condo in suburbia. Why? You die die must have that "live in condo" label or badge...

Now to the flip side, I've shared I have a colleague who forever quit stocks after losing a "mere" $5K... 

The pain was that excruciating for him.

In our community, there's a blogger (he no longer blogs) whom I respect a lot. He also shared he went into a depression after losing money... Even harboured suicidal thoughts...

Thankfully he has moved past and recovered from his dark days.

During the 97 Asian Financial Crisis or 2008 Lehman meltdown, thousands (not hundreds) of investors ended their lives...

It's hard, but who will willingly admit they are made of porcelain or glass? 

I'm sure when we do risk profile surveys, we will prefer to "own self lie to own self" we are made of rubber or stainless steel....

How?

Does that help you to determine whether you should top-up your CPF?

You don't have to study psychology to know yourself.

If you haven't forgotten your literature from secondary school, all we need is to read yourself like we are reading a character from a novel or play. Wink.

That's all!

STI back to pre-Wuhan virus level?

 

Count me impressed!

I mean we are just a whisker from STI 3400!!!

This is where long suffering passive "investors" into STI ETF or funds are finally getting their day in the sun!

This should make up for the years of underperforming US and HK indices...  

A bit like looking your civil servant hubby in a new light. 

Sure, compared to your jie-meis who married entrepreneurs or high-performing top sales, he may be a bit boring, but slow and consistent pay increases and promotions do add up! Like CPF hor?

Especially when your jie-mei's entrepreneur hubby is facing a mountain of debt in bankruptcy; or that top sales hubby of theirs is suffering a slump and "eating grass" during Wuhan virus lockdowns...

But then again, that's if you have bought the STI ETFs or funds.

I mean you can't say STI is in a bear market, right?

Yet, why is there a sea of red in your portfolio???

It's the rubber meets the road moment - do you stick with active stock picking (invest to achieve), or do you "capitulate" and agree with Warren Buffett that most people would be better off sticking with an index fund...

Ouch! 

Yeah, it's the - you want ego or want money moment!

 

Market Outlook for 2023

 

This is the view from my balcony looking towards Orchard to the right:

Rather ominous right?

Looks like dark clouds looming on the horizon?

But when I turned to my left towards Bukit Timah direction:

Eh?

OK, not clear blue skies, but bright and sunny clouds leh!

I took both pictures at the same time last week. 

One thing I discovered staying at the 40th floor is that I can now look at the skies in panoramic or wide-angle mode.

Right side dark, left side bright.

Some see pain ahead; some see opportunities.

I guess that's the outlook for 2023 for most of us - we see what we want to see!

P.S.  Can't make money if we don't place our bets. 

But it's OK if you trigger shy. Thanks to rising interest rates, there are now a lot more "Save More" vehicles to choose from!

This is life.

Landlords happy with rising rentals and property prices; tenants and property buyers suck thumb...

Investors not happy rising interest rates causing their stocks to crash and burn; savers happy they can finally choose other "colours" beside "black"!

Hungry Eat; Tired Rest

 

Long life, no health also meaningless...

This everyone knows.

Got money, tomorrow never comes also "lan lan"...

Balance.

Of course planning for tomorrow nothing wrong! 

Just as long we don't use retirement planning or "delayed gratification" as excuses to avoid living in the here and now.

Don't save sex for old age!

You laugh.

Try spotting the decisions you've made this year that's financially "prudent", but essentially is like saving sex for old age!?

What's makes you happy this year?

Hitting your financial goals?

Or hungry eat; tired rest?

Euphemisms

 

Got retrenched or fired? 

Career stuck going nowhere...

Got diagnosed you got critical illness and can't work anymore... 

Prefer to be a stay-at-home dad and let wifey work and pay the bills?

Want to be a business owner to grab a piece of the adult financial education pie?

Hate your current job...

Don't believe in religion yet still want to "believe" in something?

You have a hole-in-your-heart...

I can go on... But you get the idea,

What's the flavour of the decade euphemism people in our community like to use?

Just take minimalism. (For those who want to read my poke on it) 

It got "hijacked" into mainstream use and in our community some years back. Now? Less popular right? 

Believe me you. FIRE will suffer the same fate in the next decade. 

Why?

After 10 to 20 years if you still can't retire "early", you got to find a new euphemism!

That's what euphemisms are for.

To own self, lie to own self.

Go East, Go West - Meet Same Place

 

Like US sitcom spin-offs, the paragraph I wrote at the end of my last week's post, I believe, is good enough to have a proper blog post of its own:

Maximum Pain Vs Maximum Sheepishness

"Another interesting observation I would like to share with readers.

This Tarzan and me are going in opposite direction - he adding to CPF; while I taking as much out as possible - but we both have the same destination in mind. Wink.

The 8 immortals' analogy probably flew over your head if you're not Chinese, or Chinese banana...

OK, this New York analogy clearer.

To get to New York from Singapore, we can fly to London, and then New York.

Or from Singapore to San Francisco, then New York.

Earth is round.

Ding!"

You can verify what I say with your own anecdotal life experiences.

1.  Two young female fresh graduates - one decides to marry young and be a stay-at-home mom; the other embarks on her corporate career dreams.

30 years later, both now are living in landed properties. 

(This is adapted from a Straits Times article decades ago where it featured a tai tai making more money from moving private property 3 times than her peer who got promoted to CEO.)  

2.  During my time in the 80s, those who aspire to university would choose the Junior College route. Those who want to work asap would take the polytechnic route.

Seemingly different paths. Yet years later, everyone is also a university graduate! 

Polytechnic graduates can go overseas to continue their university studies, study part-time, or work for a few years, save enough, then own self give "scholarship" to own self!

3.  Two young boys living at those 1.5 room HDB flats at Mei Ling Street. One studied hard, got bursaries and scholarships, became a doctor (or lawyer if you prefer).

The other dropped out of school, joined a gang, got involved with illegal betting, loan shark activities; etc.

In their late 30s, both ended up in Changi Prison.  

(Got read in the papers doctors/dentists cheating big daddy with CHAS claims? Or molesting their patients? How about lawyers absconding with clients' money? Its FTX on a much smaller scale.)

4.  Two management trainees started their careers at a local hotel chain. One decides that rolling stone gathers no moss. First job is also last job. Stayed in the same hotel for 30 years. Play the local born and bred card.

The other decides to follow the ang-moh expats, every few years jump to different hotels all over the world. International career is good, better, best! No?

In their early 50s, both got retrenched due to the stupid Wuhan virus epidemic.

(Does it not look a bit like Buy-and-Hold versus Trading?) 

5.  Panda Portfolio Hits All Time High

Read the comments amongst 3 old fogeys.

CW and I are strolling down the mountain, while mysecretinvestment has 4 more years to go before calling it quits. (I believe he is likely to move the goal posts if his landowner offers him a "minister mentor" shepherd position. Wink.)

Both of them are planners and goal setters. Must be an education thing...

I less formal education. I do first, then beg for forgiveness! 

Some see differences; I see similarities. 

Passive Income Scams

 

It's fun and refreshing to find some "ang moh" financial YouTubers do play the role of the 2 dots in the Tao symbol!

Those of us who are snake oils (day job working as sales, marketing, advertising, PR; etc...) would cringe with all the hyperbole dished out. 

It's true.

The best way to make money attending all these "get rich" seminars and masterclasses, is to "steal with pride" how they conduct the trainings, "creatively" pour the course materials into new bottles, and then start selling yourself as the next "financial guru" - "If you believe me; follow me!"

Of course, it helps you can speak and do motivational talks in public.

Those who can't, can do YouTube videos. I mean you just have to talk into the camera. No?

As for those who are camera shy, well, there's still blogging. 

You'll be surprised how many people are willing to spend money on courses without knowing the real name of the trainer or how he/she looks in real life.

It's like a blind date! 

I kid you not. 

Then again, these "trainers" with brown paper bags over their heads charge the lowest... Ar ber then?

Those who dare to show face and use real names, of course can and should a charge a lot more! 

Why?

That's because "potential" students can CSI the trainers' background and credentials. 

Think about it for a moment. If you drive a Mercedes or BMW, would you take financial advice from someone taking the Comfort Delgro bus?

If you stay in a condo, would you attend property courses from someone who stays in a HDB flat?

P.S.  That's why "financial gurus" would rent villas, sports cars, take pictures in front of yachts they don't own to project that "success" to "bei kambings".

Those of you in real estate or insurance sales, you know the trick of wearing fake luxury watches, right? Fake it until you make it!

 

Negative Yielding Instruments/Vehicles in Singapore (2022)

 

CPF.

Singapore Savings Bonds.

Singapore Treasuries.

Singapore Bank Fixed Deposits.

You get the picture.

In REAL terms of course!

You think why Big Daddy evaluate their shepherds like Temasek and GIC on a real rate of return after deducting the global inflation rate?

Fair right?

If not how to justify the shepherds' salaries and bonuses? 

It would be interesting to review GIC and Temasek's investment performance for 2022 next year!

What?

We are "amateurs"...

Cannot compare with professionals you say?

Wait a minute.

Something is off....

I thought it's about whether one is financially literate or not!?

Or are you moving the goal posts by changing the definition again?

Spear and Shield Moment

 

Sometimes it's a bit funny and awkward to see "amateur" snake oils trying to spin anytime is a good time to invest for the LONG TERM...

You know, the Time in the Market versus Timing the Market argument.

How even if you have entered the markets at the worst possible moments (market tops), you'll still come out "profitable" eventually because...

Get ready.

Stocks always go up in the LONG TERM!

OK, even if you swallowed hook, line, and sinker the spin that entries don't matter, pray tell why should you sign up for any Masterclasses then?

I mean if it's so idiot proof, then anyone and everyone can do it by themselves. No?

Ding! That's your spear and shield moment. Wink.

That's where snake oils like me will face-palm and go, 

"No! That's not how you sell LONG TERM investing lah!

Cannot oversell until like that!"

And that's me coming from the Timing the Market camp...

LOL!

Are You The Investing Broken Clock?

 

A broken clock is right 2 times a day.

Investing can be most painful if we are like the broken clock...

During early 2003 in the depths of the Nasdaq meltdown, I remember my colleague couldn't stomach the pain anymore.

He sold out with steep losses, fearing low can get lower, and transferred what remained of his funds into those Capital Protected funds that were peddled by our friendly nation building local banks.

Yup, that's capitulation.

That move is the "equivalent" of voluntary contribution to CPF today.

When the market recovered until it broke in 2008, he missed the "one day I'll breakeven rally"...

The consolation is that "lucky" him! He missed the 2008 GFC! Heng ah!

Well, own self lie to own self is the best way to deal with the pain of missing out...

Then there's the other side of the story.

Parochial "local born and bred" retail investors who jumped onto the passive STI ETF for the past several years were not exactly thrilled when compared to their peers who piled into Nasdaq, S&P 500, or Hang Seng ETFs...

I mean STI didn't go anywhere except collect some dividends here and there. As wealth preservation and income, not so bad... But to build wealth or as vehicle to achieve FIRE? Eh...

Now the tables have turned.

STI pandas and koala bears are now probably patting themselves on the back! I mean losing 10-15% is better than losing 40-50% right?

That's the pain of investing, isn't it?

No matter how much we suck at it, we can always look back at those "twice a day" times when we were right.

But for the rest of the time, we were just dead wrong...

You'll be surprised.

Majority of retail investors just want to be "right", rather than to make money.

Strawberry FIRE?

 

The "Strawberry generation" is a term used on those Taiwanese people born from 1980s onwards who "bruise easily".

The equivalent in the West I guess would be "Snowflake generation"?

I am not surprised.

This has happened before:

Suze Orman Criticised By FIRE

Its a bit like religion.

If you are a true believer, it does not bother you what the atheists or the scientific community say.

Those that get easily "triggered" are usually those who themselves have "doubts"... You know, the very "insecure" ones... 

They desperately want to believe what they were told were true. 

And no, FIRE is not mainstream.

At best, its a cult; similar to the crypto community.

Where got mainstream religions get "excited" by some article mentioning your "religion"?

But if you belong to a cult, of course you'll be delighted! You are the one seeking affirmation and acceptance from anyone and everyone...

Would FIRE ever get mainstream acceptance?

Well, do you think big daddy will support FIRE? (Get ready for more foreign talents!) 

If your graduating children tell you they are seeking FIRE at 35, would you jump with joy at their "enlightenment"; or be worried sick what thinking them?

How about you found out your dating partner is on the FIRE bandwagon, would you continue dating them as marriage potential? 

Imagine your significant other suddenly declare themselves on FIRE in their 40s, do you first suspect they are undergoing their mid-life crisis? Just using FIRE as cover? You know, seeking FIRE to "escape"...

Or do you wholeheartedly support? 

"No problem dear. You can stay home while I work. My solo income is enough to support you on FIRE."

  

My take? 

Hungry eat; tired rest.

If you feel full, stop eating. Simple as that!

I'm on the camp that believes its better to beg for forgiveness than ask for permission. Wink.

And nobody cares about you!

You rich what has that got to do with me? (Unless you want to share your wealth with me)

You penniless why should I care? (Provided you don't expect me to subsidise you)

One thing its clear. 

Strawberries can't take a poke.

LOL!

A Plan Is Not A Strategy

 

Some Singaporeans like to lament, "School never teach..."

Well, sometimes school teaches us the "wrong" knowledge - like those Poor Dad stuffs...

Then there are times school got teach us the "right" concepts, but its us students who make a mess of everything as we are applying the knowledge from a "sheep" perspective. 

Regular readers at this watering hole know how I like to poke superficial understanding of SMART goal settings; and those empty parroting of "If you fail to plan, you plan to fail."

Don't worry. Many of us do this in our day jobs too. 

Economy good, we hit our goals (like in investment/trading) and we shamelessly take full credit for it due to our excellent "planning".

Economy bad we didn't achieve anything but its never our fault!

In my previous company, the running joke its the customers' fault for not buying in accordance to our sales forecast! LOL!

Stumbled upon this excellent Youtube video:

Apply this to investment/trading:

Strategy = What's your EDGE?

If you struggle to find your EDGE, then its like in our day jobs - markets up I make money; markets down I lose money.

All those sexy SMART goals and fancy investment/trading plans don't make any difference whatsoever.

But they sure make you look "educated"!

Financially literate? I not so sure...