Less analyzing. More investing - CW8888 Less thinking; more doing - SMOL Add one more ... Less Talking; More Doing - CW8888
Why Uncle8888 has stopped visiting forums for so many years and still doesn't miss them anymore? Most of the time, there are just too many "good" and convincing talking; but very hard to determine how well they are doing from these "good" talking. Don't just listen to their talks but watch very close what they are actually doing.
CW8888: Probably the reason why Uncle8888 can win at personal finance. LOL!
By David Ning | U.S.News & World Report LP
One well known, but seldom practiced, strategy in chess is to think a
few moves ahead. Chess players are able to increase their odds of
success by simply planning for a variety of possible outcomes in the
The ability to anticipate future problems and
opportunities, a skill that chess players often develop, can also help
your personal finances tremendously if you apply those abilities to your
Your financial situation can be improved if you keep an eye toward
the future. When you think a bit further down the road you are more
likely to make the decision that has the maximum benefit over the long term. Here's how a chess master would approach some common financial situations.
A chess master buys when demand is low. Are you
looking at Halloween costumes? You could have saved a good chunk of
money if you bought the outfit last year at the beginning of November.
And speaking of clothing, winter clothes like jackets and coats are
always on sale in the spring and short sleeves in the fall. Those who
think ahead know that they will eventually wear the clothes when the
correct season rolls around again and buy them now at a huge discount.
The same strategy works for traveling. Everyone likes to go at peak
season, but shoulder season trips are typically cheaper and are often a
better trip because there are fewer crowds.
A chess master carefully picks the best college and major.
With college costs skyrocketing, it's becoming more and more important
to go to a sensible college that doesn't leave you in a massive amount
of debt just as you are starting your career. There are certainly cases
where a high cost private college is worth the money, but smart chess
players weigh the options and pick the path that gives them the most
bang for their buck. They consider the type of job they are going to be
able to get by getting a degree at a specific school and how long it
will take to pay off the loan if they need to take on debt to finish
school. It's certainly worth considering if the fame that accompanies
going to a more prestigious school is worth the extra financial
hardship. Some high schoolers might even ponder whether they need a four-year degree
for their chosen career field. Every high school graduate should
contemplate all of their higher education options so they don't graduate
from college with so much debt that it will crush their financial life for decades.
A chess master stays the course because he is able to invest rationally.
One of the most damaging moves inexperienced investors make is bailing
out when stocks significantly decline in value. Staying the course is
difficult when everyone is panicking and making you fear that you'll
lose everything if you don't sell your investments. Yet, investing
should be based on expected returns. When volatile investments go down,
the expected return generally goes up. If anything, there's now a higher
chance the investments you own will generate a higher return. A smart
chess player might even buy more when the market is low so they can reap
the rewards of the recovery.
A chess master will maximize tax-advantaged accounts. Many
people have taxable investments earmarked for the long term even while
not contributing the maximum possible amount to retirement accounts,
which means they are paying more tax than they need to. If you know you
don't need the money in the short term, you can get tax perks
by contributing to traditional and Roth 401(k)s and IRAs. Long-term
investors will come out ahead by stashing as much as they can in
tax-preferred retirement accounts.
With a bit of practice, chess
players develop the discipline to think ahead. Start planning a few
moves ahead and your finances will benefit too.
BTW, Uncle8888 is fisherman too. Patience. Chess and Fishing!
think you must be smiling like me when you see straight line
extrapolation excel files with X% constant compound returns year after
year - unrealistic goal setting and/or delusional planning?
Did SMOL smile again today?
Uncle8888 is not planning to depend on the volatile market to fight against future inflation and to provide bulk of the cash flow for living and lifestyle expenses from his passive income investing strategy. No! Do you know why SMOL and Uncle8888 smile when we see straight line
extrapolation excel files with X% constant compound returns year after
year - unrealistic goal setting and/or delusional planning?
Uncle8888 is planning to do this for his Retirement Income For Life strategy.
Can we really depend on volatility of the stock market for our survival without having many sleepless nights?
Some may have encounter their first fear and others are seeing more nightmares coming soon after the past week of "horrors". A) Know yourself B) Know your wallet In investing, which comes first? You tend to agree with A or B? But, don't tell me it is Chicken and Egg debate.
Since 65% of Kep Corp's Net Profit is from O & M, we will need to look closely at its net order book, operating and net margin to have an idea whether it can survive the gloomy years ahead of falling orders.
Warren Buffett does not like to lose money in general, so
losing $1 billion before lunch on a Monday morning can not be going down
The plunge in IBM shares
Monday after its weak earnings results cost the Oracle of Omaha dearly.
The stock fell $15.05 at the open, and Buffett held about 70.2 million
shares as of June 30, according to the most recent SEC filings.
That means the sharp decline cost him $1.06 billion—a drop in the Berkshire Hathaway bucket, to be sure, but still noteworthy.
In April, after a prior weak earnings report, Buffett told CNBC he had not "soured" on IBM, that he had bought more stock this year and that he had not sold a share.
The stock was recently the third-largest holding in Buffett's portfolio, trailing only Wells Fargo and Coca-Cola.
The funniest thing about markets is that all past crashes are viewed
as an opportunity, but all current and future crashes are viewed as a
For months, investors have been saying a pullback is
inevitable, healthy, and should be welcomed. Now, it's here, with the
Standard & Poor's 500 down about 10% from last month's highs.
Enter the maniacs.
Those are words I read in finance blogs this morning.
my count, this is the 90th 10% correction the market has experienced
since 1928. That's about once every 11 months, on average. It's been
three years since the last 10% correction, but you would think something
so normal wouldn't be so shocking.
But losing money hurts more than it should, and more than you think it will. In his book Where Are the Customers' Yachts?, Fred Schwed wrote:
are certain things that cannot be adequately explained to a virgin
either by words or pictures. Not can any description I might offer here
ever approximate what it feels like to lose a chunk of money that you
used to own.
That's fair. One lesson I learned after 2008 is that
it's much easier to say you'll be greedy when others are fearful than it
is to actually do it.
Regardless, this is a critical time to pay
attention as an investor. One of my favorite quotes is Napoleon's
definition of a military genius: "The man who can do the average thing
when all those around him are going crazy." It's the same in investing.
You don't have to be a genius to do well in investing. You just have to
not go crazy when everyone else is, like they are now.
Here are a few things to keep in mind to help you along.
Unless you're impatient, innumerate or an idiot, lower prices are your friend
supposed to like market plunges because you can buy good companies at
lower prices. Before long, those prices rise and you'll be rewarded.
But you've heard that a thousand times.
There's a more compelling reason to like market plunges even if stocks never recover.
psuedoanonymous blogger Jesse Livermore asked a smart question this
year: Would you rather stocks soared 200%, or fell 66% and stayed there
forever? Literally, never recovering.
If you're a long-term investor, the second option is actually more lucrative.
because so much of the market's long-term returns come from reinvesting
dividends. When share prices fall, dividend yields rise, and the
compounding effect of reinvesting dividends becomes more powerful. After
30 years, the plunge-and-no-recovery scenario beats out
boom-and-normal-growth market by a quarter of a percentage point per
On that note, the S&P 500's dividend yield rose from 1.71% in September to 1.82% this week.
Plunges are why stocks return more than other assets
Imagine if stocks weren't volatile. Imagine they went up 8% a year, every year, with no volatility.
Nice and stable.
What would happen in this world?
would own bonds or cash, which return about zero percent. Why would you
if you could earn a steady, stable 8% return in stocks?
world, stock prices would surge until they offered a return closer to
bonds and cash. If stocks really had no volatility, prices would rise
until they yielded the same amount as FDIC-insured savings accounts.
then -- priced for perfection with no room for error -- the first whiff
of real-world realities like disappointing earnings, rising interest
rates, recessions, terrorism, ebola, and political theater sends them
So, if stocks never crashed, prices would rise so high
that a new crash was pretty much guaranteed. That's why the whole
history of the stock market is boom to bust, rinse, repeat. Volatility
is the price you have to be willing to pay to earn higher returns than
They're not indicative of the crowd
to watch the market fall 500 points and think, "Wow, everyone is
panicking. Everyone is selling. They know something I don't."
That's not true at all.
prices reflect the last trade made. It shows the views of marginal
buyers and marginal sellers -- whoever was willing to buy at highest
price and sell at the lowest price. The most recent price can represent
one share traded, or 100,000 shares traded. Whatever it is, it doesn't
reflect the views of the vast majority of shareholders, who just sit
there doing nothing.
Consider: The S&P fell almost 20% in the
summer of 2011. That's a big fall. But at Vanguard -- one of the largest
money managers, with more than $3 trillion -- 98% of investors didn't
make a single change to their portfolios. "Ninety-eight percent took the
long-term view," wrote Vanguard's Steve Utkus. "Those trading are a
very small subset of investors."
A lot of what moves day-to-day prices are computers playing pat-a-cake with themselves. You shouldn't read into it for meaning.
They don't tell you anything about the economy
It's easy to look at plunging markets and think it's foretelling something bad in the economy, like a recession.
But that's not always the case.
my friend Ben Carlson showed yesterday, there have been 13 corrections
of 10% or more since World War II that were not followed by a recession.
Stocks fell 35% in 1987 with no subsequent recession.
There is a
huge disconnect between stocks and the economy. The correlation between
GDP growth and subsequent five-year market returns is -0.06 -- as in no
correlation whatsoever, basically.
Vanguard once showed that
rainfall -- yes, rainfall -- is a better predictor of future market
returns than trend GDP growth, earnings growth, interest rates, or
analyst forecasts. They all tell you effectively nothing about what
stocks might do next.
So, breathe. Go to the beach. Hang out with your friends. Stop checking your portfolio. Life will go on.
SINGAPORE: The majority of Singaporeans are concerned
about not saving enough for retirement, according to a survey of the
middle class commissioned by insurer AIA. About 55 per cent of
Singaporeans said they are concerned, compared with the overall figure
of 44 per cent across Southeast Asia, the AIA survey, released on Friday
(Oct 20), revealed. The survey also found that Singaporeans think they
need about US$900,000 (S$1.15 million) on average in savings for
retirement - the highest in the region. Additionally, 67 per
cent of Singaporeans indicated that healthcare was the top cost concern,
and the top goal among Singaporeans is to be healthy. About 76 per cent
of Singaporeans also said they believe children should be responsible
for financially supporting their parents, which is above the regional
figure of 70 per cent. Also revealed in the survey was 74 per
cent of Singaporeans indicating they are satisfied with their lives,
with older respondents - those 55 years old and above – more likely to
About 500 Singaporeans were involved in the survey, which spanned six countries in Southeast Asia.
1. You may be sitting on paper losses; but collecting your dividends as Panadol to ease your heartache or headache. No other overhead charges! 2. You may be sitting on paper gains and happily collecting cash flow and laughing to bank with no overhead charges.
3. You can don't bother as there is no other external pressure upon you to do so. Time may be your friend. No?
You may be sitting on paper losses; but still paying out cash flow on daily interest charges and future dividends. 2. You may be sitting on paper gains; but in the meantime "happily" paying out cash flow on daily interest charges and future dividends.
3. You need to constantly watch out for your payback or cut back as there is an element of time pressure on you to reduce your overhead charges. Time is not your friend. Right?
What is the difference in Long and short of a trade?
Some cannot take pressure and don't like the idea of paying overhead charges while waiting. Don't try!
WASHINGTON: Federal Reserve chief Janet Yellen warned
on Friday (Oct 17) that the gap between the rich and poor in the United
States is widening and has reached a near 100-year high.
speech at a conference on inequality in Boston, the Fed chair did not
mention monetary policy nor the current turmoil in financial markets.
she focused on the widening wealth disparity and how that impacts
economic opportunity. "By some estimates, income and wealth inequality
are near their highest levels in the past hundred years," Yellen said,
noting the gap has grown steadily over recent decades, despite a brief
pause during the 2008 crisis.
During the recession, the worst
since the Great Depression of the 1930s, the richest Americans lost
money, and increased government spending helped offset losses for the
"But widening inequality resumed in the
recovery, as the stock market rebounded," Yellen said, noting that "wage
growth and the healing of the labour market have been slow, and the
increase in home prices has not fully restored the housing wealth lost
by the large majority of households for which it is their primary
asset." (CW8888: Residential home as primary asset doesn't produce any cash flow to build up wealth. Wealth formula is Wealth = Asset Value + Cash flow. Lacking of cash flow is the missing key in wealth building.)
The Fed chief said that wide wealth disparities can
make it harder for the poor to move up the income ladder, and also
warned of the burden of student loan debt, which quadrupled between 2004
and 2014. (CW8888: Poor got to borrow and firstly locked into negative growth instead creating wealth from cash flow)
"I think it is appropriate to ask whether this
trend is compatible with values rooted in our nation's history, among
them the high value Americans have traditionally placed on equality of
opportunity," she said.
FALLING LIVING STANDARDS
said "some degree of inequality" is natural and indeed "arguably
contributes to economic growth, because it creates incentives to work
hard, get an education, save, invest, and undertake risk."
that same inequality can limit access to economic resources for those
lower on the ladder, "thereby perpetuating a trend of increasing
inequality." Yellen offered no remedies for decreasing the rich-poor
gap, but welcomed discussion on ways to better promote "equality of
She said two "cornerstones of
opportunity" are resources available to children and access to higher
education, but added that ownership of a family business and inherited
wealth can also be important sources of economic opportunity.
families below the top, public funding plays an important role in
providing resources to children that influence future levels of income
and wealth," Yellen said, citing programs like unemployment, welfare,
and early childhood education.
She said college degrees also
offer a net benefit, despite escalating tuition costs that have
contributed to a dramatic increase in student loan debt - the
outstanding balance quadrupled from US$260 billion in 2004 to US$1.1
trillion this year. This debt is disproportionately, and increasingly,
affecting poorer families and may put college and graduate degrees out
of reach for some, she said.
Globally, the gap between the
haves and have-nots has reached levels not seen since the 1820s, the
OECD said earlier this month, in a report that looked at trends in
health, education, inequality, the environment and personal security.
report said, however, that overall well-being has improved over the
past 200 years, despite the enormous increase in income inequality, in
part because factors like life expectancy and literacy, which have risen
dramatically over the last 200 years.
Yellen said that the
trend in recent years in the United States has seen "stagnant or falling
living standards for many families."
And finally the most important, and
rarest, trait of all: the ability to live through volatility without
changing your investment thought process.
This, said Mr Sellers, is almost impossible for most people to do; when
the chips are down they have a terrible time not selling their stocks at
a loss. They have a really hard time getting themselves to average down
or to put any money into stocks at all when the market is going down.
'People don't like short-term pain even if it would result in better
long-term results, he said. Very few investors can handle the volatility
required for high portfolio returns. They equate short-term volatility
'This is irrational; risk means that if you are wrong about a bet you
make, you lose money. A swing up or down over a relatively short time
period is not a loss and therefore not risk, unless you are prone to
panicking at the bottom and locking in the loss.
'But most people just can't see it that way; their brains won't let
them. Their panic instinct steps in and shuts down the normal brain
SINGAPORE: Local wealth managers, DBS Private Bank and
Bank of Singapore, kept their top 10 rankings among private banks in
Asia as the industry notched another strong performance in 2013,
according to a widely followed industry publication.
Banker International (PBI) said on Friday (Oct 17) that DBS Private Bank
kept its ninth place in the ranking of wealth managers for the rich,
with assets under management (AUM) of US$54 billion (S$68.7 billion) as
at December 2013, up from US$46 billion the year before.
Singapore, the private banking arm of Oversea-Chinese Banking Corp
(OCBC), stayed at number 10, with AUM of US$46 billion at the end of
2013, an increase from US$43 billion at end-2012.
PBI estimated that total AUM in Asia rose 18 per cent to a record US$1.387 trillion in 2013 from US$ 1.173 trillion in 2012. The
annual study – which ranks the top 20 private banks in Asia by AUM –
saw Swiss bank UBS clinch top spot for the second year in the row with
US$245 billion, followed by Citi with US$238 billion.
Just For Thinking .... Hmmm ..... Not exactly chun! But, after sometime, quite sometime or long time, chun chun! How to survive round after round? Bo chun? You say! Support and Resistance works! Only time matters.
As long as we don't feel it. One day, we certainly don't feel it and 100% sure!
Traditionally, the word
capitulation describes a surrender between fighting armies. What is
capitulation when it's used on Wall Street? What does it signify? We
What is capitulation?
simple terms, capitulation is when investors try to get out of the
stock market as quickly as possible and look for less risky investments.
It's also described as panic selling. It's usually based on investor
fears that stock prices will fall further than they have.
getting out of the market, investors give up any previous gains in
stock price. That means they take a financial loss, just to get out of
stocks. The thinking is: take a smaller loss now rather than a bigger
Real capitulation involves extremely high volume-or high numbers of traded shares-and sharp declines in stock prices.
Why do investors capitulate?
a stock starts dropping in price. There are two choices. Investors
stick it out and hope the stock begins to appreciate-or they can take
the loss by selling the stock.
the majority of investors decide to wait it out, then the stock price
will probably remain stable. But if the majority of investors decide to
capitulate and give up on a stock, they start selling and that starts a
sharp decline in a stock's price.
Are there any benefits from capitulation?
for those buyers ready to swoop in. After capitulation selling, common
wisdom has it that there are great bargains to be had in the stock
market. Why? Because everyone who wants to get out of a stock, for any
reason, has sold it. The price should then, theoretically, reverse or
bounce off the lowest price of the stock.
other words, some investors believe that capitulation is the sign of a
bottom and a chance to get stocks at a cheaper price than before the
capitulation took place.
Is capitulation a way to gauge the markets?
at all.Capitulation is very difficult to forecast and use as a way to
buy or sell stocks. There is no magical price at which capitulation
takes place. Certainly during the trading day, stock prices and volumes
are monitored and some measurement is used to determine if a
capitulation is taking place and will remain so at the end of the day.
most often, investors and market watchers look back to determine when
the markets actually capitulated and see how far stocks have fallen in
price for that one day of trading.
On Oct. 24, 1929-what's known as Black Thursday-share prices on the New York Stock Exchange collapsed. A then-record number of 12.9 million shares was traded.
more was to follow. Oct. 28, the first "Black Monday," more investors
decided to get out of the market, and the slide continued with a record
loss in the Dow for the day of 38 points, or 13 percent.
The next day, "Black Tuesday," Oct. 29, 1929, about 16 million shares were traded, and the Dow lost an additional 30 points.
Group revenue for 9M 2014 was $49.3 million. Operation and maintenance income was $37.2 million, 2.2% lower compared to 9M 2013.
Profit after tax for 9M 2014 was $10.2 million, resulting in
earnings per unit (EPU) of 1.61 cents for the period, which was 6.4%
lower compared to 9M 2013.
Cash generated from operations was $40.9 million for 9M 2014, 11.3% higher compared to 9M 2013.
Net asset value per unit as at 30 September 2014 was
tiny_mce_marker.93 compared to $1.00 as at 31 December 2013, mainly due
to the distribution payment of 7.82 cents per unit during the year.
On 26 September 2014, KIT entered into an agreement with NEA to
provide additional incineration capacity to the Senoko Waste-to-Energy
plant. The upgrade is currently planned to take place between 3Q 2015
and 3Q 2016 and will progressively increase the contracted incineration
of the plant by up to 10% from 2,100 tonnes per day. This is expected to
increase the operating cash flows from the plant.
Net property income for the first nine months of 2014 ("YTD Sept 2014") rose 16.1% year-on-year ("y-o-y") to $117.2 million
Achieved positive rental reversion of 32.3% in 3Q 2014
Attained high tenant retention rate of 92% in 3Q 2014
Strategic rejuvenation of property portfolio with the proposed
acquisition of a one-third interest in Marina Bay Financial Centre
("MBFC") Tower 3 on 18 September 2014 and the successful divestment of
its 92.8% stake in Prudential Tower on 26 September 2014
With the portfolio upgrade, credit rating agencies Moody's and
Standard & Poor's have both reaffirmed Keppel REIT's rating at
"Baa2" and "BBB" respectively with a stable outlook
All-in interest rate remains at 2.2%
Proactive leasing strategy with forward renewals of approximately 175,000 sf for YTD Sept 2014
Maintained strong committed portfolio occupancy of 99.3%, with seven of 11 office towers fully committed
U.S. oil producers that saw profits soar on the North American shale
boom are feeling the downside of success: falling prices and shrinking
cash are threatening to slow development.
At the same time, as
crude prices approach four-year lows, natural gas companies are
experiencing a reversal of fortune after having been shunned by many
investors when a supply glut drove the fuel to a decade-low. Gas
producers are now viewed as a safer haven than oil companies. Whiting Petroleum Corp. (WLL)
hit an all-time high in August after striking a deal to become the
biggest oil producer in North Dakota, the state with the second-largest
output. It has since lost more than $4 billion in value as its shares
plunged 38 percent. Meanwhile, Southwestern Energy Co. (SWN), an independent producer whose output is 99 percent gas, has fallen just 13 percent.
“Natural gas is becalmed through this,” Donald Coxe, who manages about $200 million at Coxe Advisors LLC in Chicago, said in an interview. “It is Walden Pond compared to a hurricane in Florida.”
Whiting is one of 26 companies on the S&P Oil & Gas Exploration and Production Select Industry Index
that have declined more than 30 percent in the past month. Shale
producers had shifted their focus to more profitable oil as gas prices
fell. Now a growing glut of crude has deflated the price of the U.S.
benchmark by 18 percent in the past three months, as gas futures dropped
“We’re running into a wall,” said Scott Hanold, an Austin, Texas-based analyst for RBC Capital Markets LLC. “We’re producing more light, sweet crude than we need.”
West Texas Intermediate touched $80.01 a barrel, the lowest since June 2012, on the New York Mercantile Exchange today. Brent prices, an international benchmark, fell to the lowest price since November 2010.
Continuing to Drill
Exploration and production companies “just drill and produce and all at once say, ‘My God, we’ve oversupplied the market,’” T. Boone Pickens,
chairman of Dallas-based BP Capital LLC, said in an Oct. 9 interview.
If crude prices stay below $80 a barrel for three months, they “are
going to sober up.”
Most companies with strong balance sheets
will continue to drill through the downturn as long as prices don’t fall
below $80, Scott Sheffield, chairman and CEO of Pioneer Natural
Resources Co., said at a forum in Washington yesterday.
$70, “you will see a significant curtailment,” he said. “You’ll see job
loss, rig loss, job loss extending into service companies.”
That’s prompting investors to take a fresh look at companies like Southwestern and Fort Worth,
Texas-based Range Resources Corp. because they focus on gas, which many
forecasters see as having steady or rising prices with the onset of
Southwestern, based in Houston, has
also benefited from operating in a lower-cost area, hedging against
future prices and from a spending plan that’s kept cash flow positive.
has been spending about $2.75 to produce a thousand cubic feet of gas,
well below the average price of $4.45 it sees over the next few years,
Michael Hancock, a company spokesman, said today in an interview. “Low
costs have become our calling card.”
While the break-even price
for oil production can be as low as $50 a barrel in some areas,
companies that rely most heavily on debt to fund drilling will be the
first to cut back, said Manuj Nikhanj, managing director and head of
energy research at ITG Investment Research.
flow is one of the better ways to evaluate which producers will face
the greatest pressure to scale back spending if lower prices continue,
Prices at $80 a barrel through 2015 will reduce cash
flow per share at major producers by an average of 17 percent, according
to an analysis published yesterday by RBC Capital Markets.
Among companies with significant U.S. shale drilling operations,
Marathon Oil Corp., Encana Corp, Talisman Energy Inc., Whiting and Ultra
Petroleum Corp. will see the most pronounced declines, the analysis
The past six weeks haven’t been
kind to Whiting and others that concentrate on the Bakken Shale, where
oil fell below $75 a barrel today, just $7 away from the price producers
need to break even, according to ITG. Bakken prices are lower in part
because of bottlenecks in getting the oil to refiners.
Once among the hottest drilling regions in the world, activity in North Dakota is looking increasingly at risk as a higher-cost area that may be the first to see cutbacks.
matters worse for Whiting, almost 80 percent of the company’s output is
oil. Other producers that drill more for natural gas have seen less of
an impact. Whiting is also one of the least aggressive among peers in
using hedging contracts to lock in prices, which cushion the blow on
many producers in the coming months. That leaves the company among the
most exposed, according to analysis by Bloomberg Intelligence.
July, Whiting announced plans to acquire Kodiak Oil & Gas Corp. for
$3.8 billion in stock, a deal that would create the premier oil
supplier in North Dakota. Kodiak has hedged about 67 percent of its
production for 2014 and 13 percent for next year. Whiting has hedged 2
percent of its 2015 oil output, according to data compiled by Bloomberg.
Chairman and CEO James Volker has said Whiting can make money
on two-thirds of its acreage with an oil price of $70 a barrel. The
company declined to comment for this story.
“I’m not trying to deny that there would be some shrinkage in our capital budget, but I could see scenarios where we would be down to $60 a barrel and we’d still be drilling,” Volker said in September.
I am 58 yrs old uncle living in HDB heartland doing long-term investing and short-term trading in Singapore stock market only.
I am still making my way to an early retirement by 2016 at 60 yrs old. Official retirement age in Singapore is 62; but can be re-employed up to 65.
I have two sons and one daughter. Two working adult children and the youngest son is in NS.
My wife is a home CEO without income. There are two mouths counting on me for financial support, so I have to do well in this investing journey. There is little room for failure!
Last updated: 22 May 2014
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