Yup, Tuesday afternoons are my movie concession watching days.
You know what? This movie by Robert De Nero and Anne Hathaway was surprisingly good!
No fast car chaser, explosions, or body counts; just simple old dialogue and relationships.
Corporate climbers
There are some useful scenes and clues on:
1) How to get liked by your co-workers and boss.
2) How to be proactive (get things done before being told).
But then again, it's all pretty useless unless what you do is already a habit of yours; and they reflect your true self.
We can fake it in the beginning; but under the scrutiny of time, it may do more damage to be found out as a "fake"...
Still, it's good to know why your colleagues are being noticed and liked by the boss - and not you.
Women, your worst enemy is not men
You know it already.
It's other bitches.
Success is what you have to sacrifice to achieve it
Two of my ex-bosses are now divorced. One had a nervous breakdown.
Between my ex-colleagues and classmates, I need more than one hand to count the number of divorces amongst them.
Why is Robert De Nero still acting?
Robert De Nero's real life age is 72 - not far from the movie character he plays.
You mean he hasn't secured financial independence yet?
Of course not!
Well, that's for those who are treating financial independence as a "goal" to figure out.
Wink!
I was at an investment seminar this afternoon.
The session was supposed to start at 1:00 pm "sharp".
However, at 1:15 pm, quite a lot of people were still streaming in...
Since I was sitting near the entrance, I started to "people watch" and "time" the late-comers.
The last person to walk in was an elderly male gentleman in has 70s? He came in at 2:10 pm - a princely 1 hour late!? On a Sunday afternoon?
I'll poke the organiser next time I meet him - don't print on the programme sheet the session will start 1:00 pm sharp when you don't mean it.
No, the organising side did not start on time too... (But that's a post for another time)
You are definitely not a trader if you are habitually late
If you consider trading a craft - and not a play play hobby to pass time - you would know that discipline is one of the key attributes for consistent performance.
The amount of work and preparations before a trader turns up at work (or turns on his PC if trading from home) is almost a daily lifestyle.
Repetition becomes habit; habit becomes lifestyle.
If I'm to visit a place I've never been before, I'll google the street directory and find out how to get there the night before.
And if the meeting is very important - like a job interview - I'll even visit the place 2-3 days before the actual meeting to time the journey and familiarise myself with the surroundings.
I don't want to get flustered by being unprepared on the actual day. (Guess why we have rehearsals for National Day parades?)
Isn't this what we do as traders all the time?
The last thing we want is to miss a trade because we were late (unprepared)...
You a long term investor so no need to respect timing?
OK, you are right in a sense that you can be slightly early or late and it won't make a big difference in the grand scheme of things.
Warren Buffet wrote in his op-ed in the NY times during Oct 2008, encouraging fellow Americans to invest in stocks despite the wide spread fear of equities at that time.
If you had listened to Warren Buffet and bought, you would see the S&P fall a further -20% until it bottomed in March 2009.
Fast forward 6-7 later, does it matter?
If you bought Singapore stocks similarly during Oct 2008, is that considered late or early?
How about buying Singapore stocks around April 2015? Is that considered late or early?
Now make a wild guess who did more preparations - those investors who bought in Oct 2008 or April 2015?
How much interests do credit card companies charge for lending money to consumers?
Write it down.
How much do licensed money-lenders charge?
Try google or make a phone call.
Write the rates down.
Ever wondered how much do illegal money-lenders charge?
Talk to a taxi-driver.
Write it down.
Now, if you have $1,000 to lend to a stranger (can be a company) you have never known before, how much interests would you charge?
If you charge lesser than the credit companies, someone is sniggering behind your back.
Remember, credit companies have access to your credit report before approving your credit card application.
If you default, there are quite a few legal recourse to recover their money:
Wage garnishment
Levy on your savings accounts
Lien on your assets or property
Pray tell how are you going to recover your $1,000 in the event of a default? Small claims court? Ask big daddy for help?
Yup, by now, you probably want to charge "Ah Long" rates for the risks you are taking!
Before you do so, you may want to check with your religious shepherd whether this may fxxx-up the end game for your after-life...
We don't want to be more financially literate than those amateur retail "money-lenders"; but end up committing the sin of usury, do we?
Ouch!
