As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

Welcome to Ministry of Wealth and Gifts for your loved ones!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down

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When you have made more and more money from the stock market, please remember to send beautiful gifts to your beloved ones.

Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Sunday, 21 September 2014

How are they spending in 2012/2013 Household Expenditure Survey?

By retirees:



So $5K per month in present value should be more than enough for retirees who have no dependents to support.

Why retail property investors are easily richer than retail stock investors???

Being right or lucky once!

Just being right or lucky once. It is common that retail property investors can realize their investment gains from $XXX,XXX to $X,XXX,XXX. The power of leverage will uplift the retail property investors to greater height when they are right or lucky once.

But, for retail stock investors, we know that they will not normally use leverage for stock investing. It is just too scary to do so. Stocks can crash to zero. Don't pray, pray.  

So how rich can retail stock investors become when they are right or lucky just once?

a) $X,XXX to $XX,XXX?

b) $XX,XXX to $XXX,XXX?

c) $XXX,XXX to $X,XXX,XXX? (like retail property investors)

How rich can retail investors become with their 10-bagger?

What do you think?

a, b or c?

For retail stock investors, you need more than being right or lucky once. You also need to be right again on your position sizing. 

Your size of war chest can't depend on your luck!

You don't think so?

You disagree ah?

Horse, Cow, and Pig (Re-posted)

At last night wedding dinner of my youngest pioneer blog reader; another invited pioneer blog reader said that she can still remember this blog post.


Read? Horse, Cow, and Pig

Saturday, 20 September 2014

Planning is useless??? (4)

Read? Planning is useless??? (3)

Read? Round 2 in Hong Kong!

Survey Says: Travel Makes Us Happier


The main study was led by Dr. Jeroen Nawijn, a senior lecturer in Tourism at the NHTV Breda University of Applied Sciences in the Netherlands. The results: "Vacationers reported a higher degree of pre-trip happiness, compared to non-vacationers, possibly because they are anticipating their holiday. Only a very relaxed holiday trip boosts vacationers' happiness further after return. Generally, there is no difference between vacationers' and non-vacationers' post-trip happiness."



CW8888: So planning is useless?


Uncle8888 is planning for Round 3 to Hong Kong next month.

In Round 3, he hopes to cover the rest of the more popular places of attractions that were not previously covered in Round 1 &2 as indicated in the map:









































Hopefully, there is no need for Round 4 for discovering Hong Kong via BMW (Bus, MTR, Walking the trails).


After this, planning to discover our neighboring state via BW (Bus and Walk)


So near and some more cheaper. Never discover them all? 

Tak boleh!







Are you greatly inspired by their investment success stories???

Like $120K passive income per year?

How about local content here?

1,106% investment gain on single stock!

or you can visit The Fool's Singapore website for more inspiring investment stories.

Are you greatly inspired by their investment success stories?

For every success story, there are Means to an End.

So you are inspired by the End?

But, you are equally inspired by the Means?

See for yourself.

One of my colleagues at his near future or hopefully the Bear will come sooner, he could inspire many of his investment success story of $120K passive income per year.

How come?

He has $1.2M war chest in place and ready to hoot.  Now he is waiting to borrow the Eastern Wind!

So you are inspired by his End. Right?

Now, Uncle8888 tells you his means.

He has downgraded from his landed property to condo with $1.2M spare money as his war chest.

In another word, his real investment success story is not from $120K passive income per year; but from his landed property investment.

Next time, you heard some investment success stories. Ask for their means too.

Dow hits new record!

NEW YORK: The Dow on Friday (Sep 19) notched its third straight record high in mixed Wall Street trade as shares of Chinese Internet company Alibaba soared following a record initial public offering.

The Dow Jones Industrial Average advanced 13.75 points (0.08 per cent) to close at 17,279.74. The S&P 500 finished down 0.96 of a point (0.05 per cent) at 2,010.40, narrowly missing a record high a day after setting one. The tech-rich Nasdaq Composite Index fell 13.64 (0.30 per cent) to 4,579.79.
Shares of Alibaba bolted 38.1 per cent higher to $93.89 on its first day of trade after its IPO raised $25 billion, the largest in history on any market. Anticipation of the Alibaba trade helped push the market higher Friday morning, gains that were further propelled by Scotland's referendum vote on Thursday rejecting independence from Britain.

But all three indices retreated from their peaks as Alibaba began trading before 4pm (midnight, Singapore Time).

"The higher the opening indication for Alibaba went, it seems the more the indices faded from their opening strength," said "That could be owed to Alibaba drawing buying interest away from everything else."

Yahoo, which holds a 22.4 per cent stake in Alibaba, fell 2.7 per cent. Although the Alibaba IPO will likely result in a huge windfall for the US tech company, some investors are expected to cash out of Yahoo now that they can invest directly in Alibaba.

Oracle shares fell 4.2 per cent after co-founder Larry Ellison stepped down as chief executive but said he would serve as chief technology officer and executive chairman of the board. The software company's fiscal first-quarter results fell short of analyst expectations in both earnings per share and revenues.

Concur Technologies, which makes corporate travel and expense management systems, jumped 17.6 per cent as it reached a deal to be acquired by German business software giant SAP for $8.3 billion. Analysts said the deal would enhance SAP's efforts to expand its cloud computing business. US shares of SAP fell 4.4 per cent.

Oilfield-equipment supplier Dresser-Rand shot up 9.4 per cent on reports that German technology giant Siemens plans to bid on the firm in a deal worth more than $5.1 billion.
Bond prices rose. The yield on the 10-year US Treasury fell to 2.59 per cent from 2.63 per cent Thursday, while the 30-year dropped to 3.30 per cent from 3.36 per cent. Bond prices and yields move inversely.

3 Lessons An Investor Learned After Losing His Job, Reputation, And $1.6 Million

The late Jim Paul went from a poor Kentucky boy to serving on the board of governors of the Chicago Mercantile Exchange through a series of lucky breaks and smart investments. But his hubris grew alongside his success, and a series of terrible investment decisions led to his downfall in 1983. His brokerage firm took away his job, his reputation was ruined, and he lost $1.6 million, $400,000 of which was borrowed from friends.

Paul spent the rest of the decade getting himself back on track. By 1990 he was working in the futures research department at Morgan Stanley Dean Witter & Co., managing a team that included investment advisor Brendan Moynihan.

Moynihan and Paul paired up to write a book about his experience called "What I Learned Losing a Million Dollars," which was originally published in 1994 and recently released as an ebook and audiobook.

For his podcast, author and speaker Tim Ferriss interviewed Moynihan, who is now the managing director of Marketfield Asset Management LLC, about the book.
Moynihan broke down three of the key takeaways, which he tells Ferriss are less about investing and more "about the psychology of the mistakes we make."

We've summarized them below:

1. Internalizing failure will keep you from rebounding. 

"When you lose money, people tend to internalize that. They tend to equate self-worth with net worth," Moynihan says, referring to the way that people tend to equate their failures with their identity.

If you lose a massive amount of money or suffer another big setback, you will be holding yourself back from a rebound if you see yourself as a failure rather than someone who failed.

It was this fear of being a failure that kept Paul from aborting his investment in the soybean oil trade, despite multiple indicators of a sharply declining market, Paul and Moynihan write in their book. Looking back, Paul writes, he wishes he would have simply accepted the failure and moved forward before putting himself through even more difficulties.

2. There's a difference between risk-taking and gambling. 

Being a smart investor requires taking many risks, and not all of them will result in success. But smart high-risk decisions are still very different from gambles, Moynihan tells Ferriss. Gamblers marry their ego to their money, which is what Paul did.

"They want to be right. It's not about the money. In gamblers, that is a disease... (CW8888: There is no difference from average down on a single stock. I am right. The market is not right. Let prove me it by putting in more money where the mouth is.)

Money is just a ticket to enter. They're there for the adrenaline rush," Moynihan says.

3. Emotional decision-making is dangerous, especially when it's done as a group. 

You're a human being. It's natural to have emotional reactions to situations, whether positive or negative. Just make sure you learn how to set feelings aside and look at something objectively before making a decision.

Paul writes about an example of when he let his emotions guide his trading, which he would do on an even grander scale with the soybean investment that lost him over a million dollars.
In 1980, his business partner told him he got a tip that a company was a potential takeover candidate within the next two months at $60 per share. Paul ended up buying tens of thousands of options when they were selling for just several cents and told all of his clients to do the same. Within three weeks, the stock rose to $38 and the options were each worth $4.

He could've made a hefty profit by selling at this point, but he, his partner, and his clients pushed each other to hold out for the rumored takeover. It would have made Paul $7.5 million, and he and his fellow option-holders began tossing ideas of grandiose vacations back and forth as the market closed on Friday. On Monday, the stock opened down $6 and he learned that the rumored takeover was off the table. The options were worthless.

In retrospect, Paul writes that he saw this as a prime example of the dangers of groupthink, where he and his fellow investors lost sight of the fact that they weren't trading off reliable information. 

Despite that, they actually had a chance to all make plenty of money had they decided to sell that Friday. He writes that it was a mistake to get wrapped up in a fantasy of flying in the Concorde and staying at the Waldorf-Astoria, which clouded his judgment.

Moynihan shares more stories about Paul and the lessons they learned in Ferriss' podcast, The Tim Ferriss Show, as well as the new edition of "What I Learned Losing A Million Dollars."

Friday, 19 September 2014

How did we lose money in investing??? (3)

Read? How did we lose money in investing??? (2)

For an investor ...

The stock price is either up or down over longer term.

Then we will have three possibilities .....

One, it is down, down, down, down and OUT. Lose money!

Two, it is up, up, up, up and out. How to lose money? Not possible. Right?

Three, it up, down, or any combinations of up and down. No win. No lose but can collect dividends

The above logic is too cheem to understand on average down for a single stock?

Book: Think and Grow Rich!: The Original Version, Restored and Revised

Reading books.

Attending company's  sponsored training courses.

Attending team building events.

Most of the time, nothing much will change.

Read? Two Books That Change My Views

Dow and S&P 500 bolted to fresh records

NEW YORK: The Dow and S&P 500 bolted to fresh records on Thursday (Sep 18) on continued momentum from Wednesday's Federal Reserve decision and enthusiasm ahead of Alibaba's expected initial public offering on Friday (Sep 19).

The Dow Jones Industrial Average jumped 109.14 points (0.64 percent) to 17,265.99, its second record close in a row. The S&P 500 gained 9.79 points (0.49 percent) to 2,011.36, while the tech-rich Nasdaq Composite Index rose 31.24 points (0.68 percent) to 4,593.43.

The record closes marked a continuation of the investor euphoria that set in Wednesday after the Fed signalled it would keep interest rates near zero well into 2015.

Art Hogan, chief market strategist at Wunderlich Securities, said investors were also charged up by the upcoming New York Stock Exchange launch of Chinese Internet giant Alibaba. The offering, potentially the largest IPO ever, is expected on Friday. The listing "feels as though it's going to be a success," Hogan said.

Positive sentiment offset caution surrounding Thursday's Scottish independence referendum. The market has been wary of the vote because of uncertainty about how Scotland would extricate itself from the centuries-old United Kingdom.

Banking stocks, including Dow member JPMorgan Chase (+1.7 percent), Bank of America (+1.6 percent) and Citigroup (+2.4 percent), surged.

Drugstore chain Rite Aid plummeted 18.5 percent as it lowered its fiscal 2015 profit forecast due in part to reduced sales as new generic drugs replace medications with patent exclusivity. The company projected full-year earnings of 22-33 cents per share, below the 34 cents seen by Wall Street analysts.
ConAgra Foods gained 4.6 percent as fiscal first-quarter earnings of 39 cents per share came in four cents above analyst expectations.

Pier I Imports, the furniture and housewares retailer, sank 18.5 percent as it slashed its profit forecast from US$1.14-US$1.22 per share to 95 cents-US$1.05. The company said second-quarter sales disappointed due to soft store traffic and declines in merchandise margins due to aggressive promotions by competitors.

Bond prices were mixed. The yield on the 10-year US Treasury rose to 2.63 percent from 2.60 percent on Wednesday, while the 30-year held steady at 3.36 percent. Bond prices and yields move inversely.

Thursday, 18 September 2014

Planning is useless??? (3)

Read? Planning is useless??? (2)

When planning is useless!



When one Man-Gang!

No boss. No followers. No partners. No peers. No meeting.

Why plan? When you don't answer to anybody. 

Who will screw himself or herself for not planning when things screwed up?

Try losing big money in the stock market when you are not one Man-Gang.

Kep Corp : 13th Year Anniversary!

It is not that difficult to hold losing stocks for a long time. Some may even hold their losing stocks to their grave or crematorium.

Unle8888 gives you an idea of holding a winning stock over several market cycles of Bulls and Bears.

Do you think it is easy to do that?

See carefully the chart below:

Full of regrets?

In the initial years, dividends are like panadol to ease headache; but over the years the panadol slowly evolves into vitamin to strengthen immunity against future Bears. One day, it completely became immune to future Bears. Is that wonderful?

Do you know the right sauce?

Tuesday, 16 September 2014

STI drop a lots meh???

Keppel secures fifth jackup contract from Gulf Drilling for US$227 million

Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured a contract from Gulf Drilling International Ltd. (q.s.c.) (GDI) of Qatar to build a repeat high-specification KFELS B Class jackup rig worth US$227 million. As part of the contract, GDI has options for two more KFELS B Class rigs for deliveries in 2017.

On the new jackup, to be named Halul, Keppel FELS has already begun preparations for its scheduled delivery in 1Q 2016 during the course of discussions with GDI. Upon delivery, Halul will be chartered to Qatar Petroleum for five years.

Halul is GDI's fifth KFELS B Class jackup rig ordered from Keppel. The fourth rig, Dukhan, was recently delivered last month. Les Hat, a similar jackup, was delivered last year and has been successfully operating for GDI in the Middle East, following in the footsteps of sister rigs, AL Khor and AL Zubarah.

Mr Wong Kok Seng, Managing Director of Keppel O&M (Offshore) and Keppel FELS said, "We are pleased to have been chosen by GDI to build another benchmark jackup rig for them. The KFELS B Class has established itself as a reliable high specification jackup rig for the Middle East with more than 10 such rigs successfully operating there.

"Besides the newbuild jackups, our shipyard in Qatar, Nakilat-Keppel O&M, is also supporting GDI with the construction of a liftboat and the repair and maintenance of their rig fleet. Our strong partnership has been built on a number of successful projects delivered to them over the years and we look forward to continue supporting GDI as they grow in the Middle East."

Customised to GDI's requirements, the new jackup rig will be designed to operate in the higher ambient temperature of the Middle East. The KFELS B Class is equipped with larger spud cans for reduced bearing pressure and expands its operational coverage in more places, especially in sea beds where soft soil is predominant. The rig can drill wells through 30,000 feet with a cantilever that can skid out 70 feet from the edge of the hull to drill wells. It features offline stand building capabilities and 7,500 PSI mud pumps, with accommodation for 150 persons.

Mr Ibrahim J. Al Othman, CEO of GDI said, "GDI is pleased to be signing a contract with Keppel FELS once again for this new requirement. We have built a solid relationship with Keppel FELS, who have a reputation for reliability and dependability. The majority of our rigs are of the newer, high spec variety that have been customised to meet the needs of our clients. We make it a point to work closely with our clients in order to satisfy their requirements in a cost effective manner."

In addition to the jackup rigs Keppel has built for GDI, Nakilat-Keppel O&M, Keppel's joint venture shipyard with Qatar Gas Transport Company, is currently constructing a self-propelled and self-elevating liftboat customised for GDI. The yard also has a six-year repair and maintenance contract for GDI's fleet of jackup rigs operating in the Middle East.

The above contract is not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year.

- End -

Sunday, 14 September 2014

Planning is useless??? (2)

Read? Planning is useless???

Many have read this book!

Uncle8888 is very sure about. Many!

But, not that many will follow up to seriously develop a definite plan to achieve financial independence goal and get out of rat race as soon as possible.

Read?Articles on Mind Flip

Planning is useless???

Just For Thinking ...

Who says that?

Are you telling us that you go for your overseas vacation on Free and Easy mode without one?

When aeroplane landed at the airport then you decide where to go and what to do?

Chun bo?

Your future is uncertain so you don't really need to plan for it?

Now, who says planning must be 100% right?

No 100%.  So no need to plan. Is it?

BTW, some even plan ahead and decide the type of coffin to be lay down hor! 


Saturday, 13 September 2014

$10,000 pay day per month???

Read? $10k a month as a tutor? Think again.

$10,000 is high enough to definitely beat median household income of S$7,870

Read? Real income up for most working household

Same here as passive income.

Not all passive incomes are equal even their numbers can be the SAME!

Passive income of $60K p.a. from 

(1) dividend income from S-REITs
(2) rental income from investment properties
(3) rental income from renting out your two bedrooms

Read? Passive Income??? Why must have more of it! (2)


One of the Biggest Money Mistakes Retail Investors Make???

Just For Thinking ....

You're forced to sell at the wrong time!

One of the biggest money mistakes made by retail investors is being forced to sell at the wrong time to meet their liquidity needs.

Forced selling to meet liquidity needs is real!

Forced selling is always a Loser's Game so don't corner ourselves to play into this game.

It has happened to Uncle8888 in 2008/09 Big Bear market; but it will not happen in the next Bear!!!

He is 99% confident of it!

Guess you may also know why?

You know. Right?



Friday, 12 September 2014

DBS : It was long ago!

How did we lose money in investing??? (2)

Read? How did we lose money in investing???

You can call it whatever.

Still okay!


You still call it scaling-in or dollar cost averaging?

Good luck! God bless! Buddha bless!

Chinese's saying ..

Ten botaks. Nine are rich. You pray hard that you are not the 10th botak!

Thursday, 11 September 2014

Past Me, Present Me, and Future Me

Present Me thanked Past Me in Jan 2000.

Future Me will thank Present Me!

The future Grasshopper will thank both past and present Me - The Ant!


Wednesday, 10 September 2014

Cash Is Rotting??? (2)

Read those comments? Cash Is Rotting???

Here is the Maths for $1,000!

Here is the thought!

Being right is much better than being early.
Cash is rotting or Cash is King?

Being early or being right?

What do you think of your power of investing return?

Siew Dai or Ga Dai?

Tuesday, 9 September 2014

Ya. Start small and learn investing???

Just For Thinking ...

 Start small and learn investing.

Common folks investing advice. Right?

Guess what happen for many newbies?

Small. Buy 4D Small?


Small. Buy penny stocks?

Not surprising. Right?

Can wait or not?


Wait for 19 Jan, 2015. Good for starting small.

Uncle8888 shares his thought ...

Being right is much better than being early.

Too cheem?

Monday, 8 September 2014

Cash Is Rotting???

Pretty obvious!

Can't really pretend it is not!

Sunday, 7 September 2014

How did we lose money in investing???

First, we invest in good stocks that turned into bad ones; and finally, we average down more bad stocks into worst nightmares.

Never, never, ever average down!

We don't need to win back in the same manner that we have lost them! - Createwealth8888

Check around those who have lost big in the stock market. 

Is that the how?

Read? Average Down


Major STI points since 1990

5.5 years since Mar 2009!

No significant correction yet!

How can it be?

Joseph's Cycles not predicting correctly?

Oct 2015 Market Crash?

Feb 2016 Market Crash?


Just one less worry! The power of money in our life???

Saturday, 6 September 2014

Retirement thoughts - How do you like it done?

Read? Retirement thoughts

In Uncle8888's presentation slides for Retirement Income For Life ...

How do you like it done?

You are good saver but not good at investing. It will look like this .... 

You are good saver and good investor too.

How do you like it done?

Investing is not rocket science. It can be done by most of us who are good savers after 19 Jan 2015!


Benchmarking Your Investment Portfolio??? (2)

Read? Benchmarking Your Investment Portfolio???

Read? Tom Gardner Founder of Motley Fools

The largest online stock advisory service they claimed.Since 2002, David Gardner accrued 245% gains vs 54% in the S&P 500. His brother Tom’s cautious value approach gained 81.4%.

Uncle8888 loves benchmarking. That is the way to know how far he as small retail investor can realistically reach.

Since Jan 2000, Uncle8888 accrued 166% gains.

Long-term compound investment return of 5% CAGR over 20 to 30 years teachable or self learning possible for anyone? (2)

Read? Long-term compound investment return of 5% CAGR over 20 to 30 years teachable or self learning possible for anyone?

Read? New SGX trading rules: What you need to know

Jan 19
Mark this date in your calender!

19 Jan 2015

Your long-term Investing journey shall begin and stop gambling in the stock market.

STOP making excuses!

You can afford them too!


Read? Uncle Chua's School of Long-term Investing???

Same here!

How did Uncle8888 seriously make and stupidly LOST his money in the stock market over the last 14 years?

Check it out yourself!

Friday, 5 September 2014

Long-term compound investment return of 5% CAGR over 20 to 30 years teachable or self learning possible for anyone?


Fate or Luck???

Read? Work for money? Forget it

invest, thesundaytimes April 19,2009

Mr Aaron Sim, founder of Wealth Mentors ..

Q: How did you get interested in investing?

After reading the book Rich Dad Poor Dad by Robert Kiyosaki over one weekend in Oct 1999, I decided I no longer wanted to "work for money".


Many years back, my female colleague told me about her hubby was so crazy about this book, reading it over and over again. She was damned pissed off. Out of sheer curiosity, I decided to check it out too. Oh my God, after reading the book Rich Dad Poor Dad, it changed me completely, I immediately realized that "work for money" may not be the best way going forward.

Now, Uncle8888 thinking back.

Fate or Luck?

Otherwise, he may be wondering how to have enough to retire.

Read? Mind Flip

Keppel finalising contracts on second FLNG vessel conversion for Golar

Keppel Shipyard Ltd (Keppel Shipyard), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), wishes to announce that it is in the process of finalising contracts with Golar Gimi Limited (Golar Gimi), a subsidiary of Golar LNG Limited (Golar LNG), to perform the conversion of a second Moss LNG carrier, the GIMI, into a Floating Liquefaction Vessel (FLNGV).
Earlier on 3 July 2014, Keppel Shipyard was awarded a firm contract by Golar Hilli Corporation (Golar Hilli) to perform the world's first-of-its-type conversion of a Moss LNG carrier, the HILLI, into an FLNGV, and the contract included options for another two similar units. The forthcoming conversion award of the GIMI will mark the exercise of the first of these two options.

The work scope for Keppel Shipyard in converting the GIMI is expected to be similar to that for the HILLI. Keppel Shipyard will be responsible for the provision of the design, detailed engineering and procurement of the marine systems and all of the conversion-related construction services. It is also expected that Keppel Shipyard's scope will include engaging Black & Veatch to provide design, procurement and commissioning support services for the topsides and liquefaction process. Once again, Black & Veatch's established PRICO® technology is expected to be selected for the liquefaction process.

Mr Michael Chia, Managing Director (Marine & Technology), Keppel O&M, said, "We are happy that Golar LNG is looking into their second FLNGV conversion, and is finalising discussions with Keppel Shipyard to perform this second conversion. We look forward to the opportunity to collaborate once again with Black & Veatch, our trusted partner for the first conversion, on this potential second project. We are confident that together with Black & Veatch, we will be able to perform this second conversion to the high standards expected of us.

"This advanced discussion for the conversion of the GIMI, which follows just two months after the first firm contract with Golar Hilli, is testament to the industry's positive reception to FLNGV conversion solutions and its potential to bring small and mid-scale Liquefied Natural Gas (LNG) to market, ahead of other competing solutions."

A further announcement will be made upon the execution of a firm contract, which is expected by October 2014, for the conversion of the GIMI. Upon execution of the contract, full construction activities will only commence when Keppel Shipyard receives a notice to proceed which is expected to be given on or after 1 January 2015 but no later than November 2015.

The above is not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation, the parent company of Keppel O&M, for the current financial year.

- End -

Thursday, 4 September 2014

Charlie Munger's Investing Principles

From Ben Carlson's Tumblr


“If you can get good at destroying your own wrong ideas, that is a great gift.” – Charlie Munger
Warren Buffett famously ran a partnership for a small group of investors before turning Berkshire Hathaway into his investment vehicle of choice. He produced extraordinary results for himself and his investors.

Many don’t realize this but his business partner Charlie Munger actually ran his own investment partnership as well. Here are Munger’s annual returns measured against the Dow and S&P 500 from inception until the fund was closed down:


The fund’s performance was stellar but you’ll notice it ran into some trouble in the 1973-74 bear market when the partnership was down over 53% while the Dow fell around 33%. Here’s Munger’s take on losses from the Janet Lowe’s book Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger:
"I’ve been through a number of down periods. If you live a long time, you’re going to be out of investment fashion some of the time.”

The volatility in the fund, as measured by the standard deviation of returns, was roughly double that of the market. Should that matter as long as the results were superior? Munger doesn’t think so:
"This great emphasis on volatility in corporate finance we regard as nonsense. Let me put it this way; as long as the odds are in our favor and we’re not risking the whole company on one throw of the dice or anything close to it, we don’t mind volatility in results. What we want are favorable odds.”

My take on volatility is that it’s only a risk if it causes an investor to forgo their process in favor of investing based on an emotional state of fear or greed. Otherwise volatility creates opportunities for patient investors.

Many in the investment industry tout their strategy as the only way to invest successfully. Munger would be on the short list of investors that could legitimately make this claim based on his track record. Instead he has a more nuanced take for finding a process that suits each individual’s unique tolerance for risk and their own personality:

"Each person has to play the game given his own marginal utility considerations and in a way that takes into account his own psychology. If losses are going to make you miserable – and some losses are inevitable – you might be wise to utilize a very conservative patterns of investment and saving all your life. So you have to adapt your strategy to your own nature and your own talents. I don’t think there’s a one-size-fits-all investment strategy that I can give you.”

There are no easy answers in the financial markets. There will never be a single technique that suits every individual. You must be willing and able to follow any specific approach.

Investing can be hard work. This is especially true for those that try to beat the market. It’s not impossible, but it’s not easy. Munger shared his thoughts on whether that means most investors should simply use index funds:

"Does that mean you should be in an index fund? Well, that depends on whether or not you can invest money way better than average or you can find someone who almost surely will invest money way better than average. And those are the questions that make life interesting.”
Regardless of your strategy, Munger makes it clear that having a long-term orientation with minimal activity can be a huge advantage:
"There are huge advantages for an individual to get into position where you make a few great investments and just sit back. You’re paying less to brokers. You’re listening to less nonsense…If it works, the governmental tax system gives you an extra one, two, or three percentage points per annum with compound effects.”
A relentless reader, Munger believes that any good investor should spend the bulk of their time in the pursuit of knowledge and understanding:
"I don’t think you can get to be a really good investor over a broad range without doing a massive amount of reading.”
Finally, Munger is a fan of putting long-term systems and processes in place at Berkshire Hathaway that don’t require constant oversight by himself or Buffett:
"Berkshire’s assets have been lovingly put together so as not to require continuing intelligence at headquarters.”
It’s simple, but never easy.

This post from Ben Carlson (@awealthofcs) originally appeared on A Wealth of Common Sense.

Money Brings Happiness??? (2)

Read? Money Brings Happiness???

Read? Why opt-out social scheme works?

What so great about a plan that pays 300 per month only upon hitting certain set conditions?

Please remember that Elder Shield is one of those social insurance scheme for the real poor and needy ones!

Size of Money is RELATIVE!!!

One important money lesson that Uncle8888 learned from one of his fishing trips and never forget.

Size of Money is RELATIVE!!!

This fisherman told Uncle8888 that he is reaching 55 soon and will withdraw a lump sum of about $80K from his CPF account. 

From his wide smiling face when he talked about it and probably thinking of his plan on how to enjoy it, Uncle8888 could easily sense the high level of happiness coming out from him. Wow! He is so happy about it!

So what is $80K to many of us especially those investment and financially bloggers. Absolutely nothing!

Size of Money is RELATIVE!!!

So is happiness!

Wednesday, 3 September 2014

Money Brings Happiness???

The inversion of "Money Brings Happiness" will be the truth!

Struggling for money to meet our living expenses will not bring happiness. No need to debate about it!

Uncle8888 knew it! 

He will try to keep this source of unhappiness far away as possible.

Know your living expenses?


Tuesday, 2 September 2014

GIC invests in Siccar Point Energy

SINGAPORE: GIC, the Singapore sovereign wealth fund, is investing in Siccar Point Energy, a new North Sea-focused oil company based in Aberdeen, Scotland. Private equity funds Blue Water Energy and Blackstone Energy Partners are leading the investment of up to US$500 million (S$624 million).

Siccar Point plans to participate across the full value chain, from exploration through to production. For a start, it will focus on opportunities in the UK Continental Shelf.

Chief Executive Officer Jonathan Roger said: "This is a great time to build a business in the North Sea for a well-capitalised and experienced team with a focused strategy. It is a period during which some of the largest upstream companies are cutting back on capital expenditures and consolidating their global asset portfolios. We believe that selective capital deployment and efficient operations can deliver attractive returns in this environment".

GIC is making the investment alongside Blue Water Energy.

Monday, 1 September 2014

A Gift to Colleagues and Friends!

Uncle8888 is slowly giving away this gift to his colleagues and friends who care; but it is not the right time to give to more. There is good reason for it.

Like any gifts we received. It is either we really love them or soon they will be forgotten.

When is the right time?

Sunday, 31 August 2014

Seniors at successful ageing discussion say they prefer to age in place

Read? Home for Living and not for profit taking (6)

SINGAPORE: To age in place, living independently within a supportive community was the desire of many seniors who were at a focus group discussion on senior-friendly homes on Saturday (Aug 30).
It is the second in a series of public discussions on the national Action Plan for Successful Ageing.

The plan aims to engage Singaporeans to come up with strategies to help seniors age successfully. It will look into eight areas, including lifelong learning, health and wellness and retirement adequacy, with discussions centred on building 'A Nation for All Ages'. Participants will identify the areas they feel are most important in determining successful ageing.

Over half of the 44 participants at the discussion on Saturday were above 60 years old. Most of them said they would rather live in the same flat as they age than to move in with their children. And even if they require more assistance, many preferred right-sizing their apartment or turning to other options like living in a retirement village.

 "Most of them said they would rather live in the same flat .."

CW8888: Home has Utility Value. The older we are and the longer we are living in the same home. It will become the saddest moment in our last phase of our life to let it go. Giving up our home should not be part of our retirement planning.

Some participants said they did not want to force family members to take care of them, citing changing social dynamics and generational differences. Others preferred to stay within familiar surroundings than move out.

The participants asked for more to be done to create a better environment for community integration and mutual support among the elderly such as providing better spaces for communal daily activities between seniors such as cooking or eating.

They also suggested outreach initiatives such as training 'senior ambassadors' - who may be younger seniors physically fit enough to do regular house visits but are old enough to empathise with the concerns of their charges - to interact with lonely seniors.

"They probably want to feel that 'I can be as independent as I can for as long as I want to, for as long as I'm able to', be it financially or even physically. Living with their children may give them the sense that they are dependent on their children physically. So they do not mind or would want to live near their children so that emotional support can be made available, but at the same time they want to be as independent as they can," said Dr Mohamad Maliki Osma, Minister of State for National Development.

"What came across today was also the sense of community. Many of the seniors spoke about the need for the community to come together - neighbours coming together to support one another, to recognise and identify vulnerable elderly neighbours, for example. I think that's also quite positive, because I think many are beginning to realise that we need to build a community that's mutually supportive of one another," he added.

Stop Not Till the Goal is Reached!n (2)

Read? No Goal. No Aim. No Dream. You are more likely to end up as an Average in your 60s! (2)

Read? Stop Not Till the Goal is Reached!

Uncle8888 fully agreed ...

"Investing is a means to attaining certain life goals, Ms Sabrina Gan believes. And so, as far as possible, investment outcomes shouldn't be put down to luck or fate, she says."

Grasshopper or Ants?

Most of us are better off to behave like ants in the market preparing to survive the Winter with our definite Goals of accumulation to survive through the harsh Winter.

Of course, it is marvelous to live like Grasshopper thinking that there is no need to prepare for tomorrow and so bloody sure that you will die during the harsh Winter. If not, you will be in damn bloody sorry state when you are only half-dead when the Spring arrives and Robins sing. 

Another harsh winter comes. This time, can you smile, sing song and talk cock when you are half-dead?

After the next winter, quarter-dead. How?

Set Goals and prepare for winter?


The Moral of the Story

Don't envy the Grasshopper or laugh at the Ants unless we are damn sure we will be dead when the Spring arrives.


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