How different from Peter's quote : So there's lots of stocks out there and all you need is a few of 'em. So that's been my philosophy. You have to let the big ones make up for your mistakes. There are 30 STI Blue Chips on quarterly survival-ship reviews; you just have to let that few blue chips bought on SGX Great Sales and let these few big ones make up for your losses in those few blue-black chips. You don't believe in Peter's quote? You basically see a few stocks in your lifetime, that's all you need. I mean stocks are out there. So there's lots of stocks out there and all you need is a few of 'em. So that's been my philosophy. You have to let the big ones make up for your mistakes. Hmm ... surprising even one "Guru" conducting course doesn't really understand it too. These wise words from Peter Lych are too cheem!
Of course; we will make mistakes even Peter Lych and Warren Buffet made mistakes; but they made much more money when they are right! That is the great different! Read? When a Giant Gain Causes Pain (5)
Last night; one ex-vendor and ex-colleague jio Uncle8888 for dinner at the famous Clementi Satay. Of course; when they have dinner with Uncle8888; one of the thing to talk about will be on investing. This ex-vendor is amazed at Uncle8888's decades of holding multi-bagger stocks and seriously he wanted to learn from him on how to hold multi-bagger stocks over the next market cycles. His biggest regret of unable to hold winning stocks and this he must learn from Uncle8888 for the next bear market. Uncle8888 bought DBS at $7.53; but he bought DBS at lower than Uncle8888 at $6+.
The biggest regret is that he sold DBS far too early; otherwise he will be the one telling better story of high yield of 9% multi-bagger blue chip - DBS.
I am 61 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and retired @ 60 from full-time job as employee.
Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 2nd year uni in SUTD.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
Last updated: 3 Sep 2017
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