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!

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.

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

Sunday, 1 December 2013

Short-term Thinker and Long-term Thinker in the Stock Market. They behave so differently???

Just For Thinking ...


No Goals in Investing?





 
 
 
 
Short-term Thinker?
 
10 years?
 
Too far away to think about.
 
How to predict that far?
 
You siao arh!
 
 
 
Long-term Thinker?
 
10 years?
 
That is a damn long journey!!!
 
No milestones? No Plans? No Goals? In cyclical and volatile market?
 
Then, how to arrive there safely and on time?
 
They tend to to think too much and worry too much.
 
Look too far when nobody can really see that far. Nobody!
 
 
Right?
 
 
 
 
But, a few quotations from Howard Marks to think about:


You can’t predict. You can prepare.

What the wise man does in the beginning, the fool does in the end.

We must strive to understand the implications of what’s going on around us. When others are recklessly confident and buying aggressively, we should be highly cautious; when others are frightened into action or panic selling, we should become aggressive.
Believe me, there’s nothing better than buying from someone who has to sell regardless of price during a crash. Many of the best buys we’ve ever made occurred for that reason.

When everyone believes something is risky, their unwillingness to buy usually reduces it’s price to the point where it’s not risky at all. Broadly negative opinion can make it the least risky thing since all optimism has been driven out of it’s price.

Just about everything is cyclical.

 


 


 





 

5 comments:

  1. CW,

    I can't resist this invitation ;)

    Is your Keppel 10 bagger the result of goal setting or more to do with 3 Ms? Or maybe more to your "sitting tight"?

    Is your career now in accordance to your goal setting when you started work?

    How about health, relationships, and family? Any goal settings like in investing?

    Are there any part of your life that you have not set any goals but life has turned out quite alright? And the reverse? Set lots of goals but life never seem to work out as planned?

    Of course I am teasing! You are talking about investing; I am on outlook on life ;)


    Goal setting is just a tool like Management by Objectives. Nothing more; nothing less.

    LOL!

    ReplyDelete

  2. On career, I have seen enough of people around me and long enough to state this observation:


    No Goal. No Aim. No Dream???

    For retirees and near-retirees, when we look back at people around us who have moved up way ahead of others in climbing the corporate ladder or move on to start their own business or pursue their passion.

    What do these people unlikely to have in common?

    ????



    Young workers or executives who want to climb high up in your corporate ladder, you better take note and remember it at all time.


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

    ReplyDelete
  3. You are right 99.9% on No Goal. No Aim. No Dream.
    i am one of these people
    Fortunately for me at least i want to learn as much as i can, as best as i can, and as long as i can how to succeed as an "OPMI".
    But as an OPMI i still have no real Goal, Aim, Dream, but to survive and prosper in the market.
    i am that simple but "KAI SIN".

    ReplyDelete
    Replies
    1. Oh!
      To prevent wrong interpretation of what i write above, i do use financial software to track my assets and liabilities since i enter the market till now. At least i want to know where i am going, ya.

      Delete
  4. CW,

    You are a great sounding-board, touchstone, and sparring partner! I wouldn't dare to do what I just did at other places ;)

    Thanks for your big and spacious heart!

    I had a previous conversation with temperament in my blog on this paradox: Sunday say I submit to thy will; rest of the week practice I am the master of my own destiny...

    If a young executive sets goals for corporate success, should he also set goals for financial independence (to escape corporate life?) at the same time? Hmm... Is there a paradox and conflict here? Or maybe we should leave it to the girls since men can't multitask? LOL!

    temperament is spiritual; I agnostic. I think the reason we are not gouging each other eyes out is strangely, despite our different paths, we have converge on this realisation of downplaying ego. We have a lot to give thanks for ;)

    Congrats to your new record breaking spree!

    SMOL - member of 0.01%

    ReplyDelete

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