As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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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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Sunday, 28 September 2014

Famous Failures As In Human Assets vs Financial Assets: The Great Divide!!!



Read? Famous Failures

"I have not failed. I've just found 10,000 ways that won't work." -  Thomas A. Edison


"I have lost money on 999 but win 1 ten-baggers. I have not failed!"  -  Anonymous retail Investor

Here are a list of quotes to overcome your fear of failure:

“You’ll always miss 100% of the shots you don’t take.”
Wayne Gretzky
“I really don’t think life is about the I-could-have-beens. Life is only about the I-tried-to-do. I don’t mind the failure but I can’t imagine that I’d forgive myself if I didn’t try.”
Nikki Giovanni
“No man ever achieved worth-while success who did not, at one time or other, find himself with at least one foot hanging well over the brink of failure.”
Napoleon Hill
“Success is often achieved by those who don’t know that failure is inevitable.”
Coco Chanel
“Defeat is not the worst of failures. Not to have tried is the true failure.”
George Edward Woodberry
“You build on failure. You use it as a stepping stone. Close the door on the past. You don’t try to forget the mistakes, but you don’t dwell on it. You don’t let it have any of your energy, or any of your time, or any of your space.”
Johnny Cash
“Do not fear mistakes. You will know failure. Continue to reach out.”
Benjamin Franklin
“Forget about the consequences of failure. Failure is only a temporary change in direction to set you straight for your next success.”
Denis Waitley
“I honestly think it is better to be a failure at something you love than to be a success at something you hate.”
George Burns
“I’ve come to believe that all my past failure and frustration were actually laying the foundation for the understandings that have created the new level of living I now enjoy.”
Tony Robbins
“What would life be if we had no courage to attempt anything?”
Vincent van Gogh
“I don’t know the key to success, but the key to failure is trying to please everybody.”
Bill Cosby
“One who fears failure limits his activities. Failure is only the opportunity to more intelligently begin again.”
Henry Ford
- See more at: http://quotivee.com/2013/articles/failure-is-the-mother-of-success/#sthash.2Q4v1Yhd.dpuf
Famous Failures As In Human Assets vs Financial Assets: The Great Divide!!!


Where???


Failures as in Human Assets


Yesterday, you have failed or you have even failed the worst that you have never see before. The worst failure ever!

So what?

You can still go to sleep. May be sleepless night. May be wide awaken till the next morning sun rises.

When tomorrow arrives, you learn more, gain more insights, have better ideas, ............more of this  ....some more of that .....


You have another brand new 24 hours to work on your past failures and continue forward. What is there in yesterday to hold you back?


Do you have to "recover" your yesterday's failure and pay back on your past mistakes?  No?

Failed again Today. Never mind! There will always be
Tomorrows. In fact, there are many tomorrows if tomorrow can still come.
Failures as in Financial Assets

Lehman Brother became Lemons
Geniuses in Long Term Capital became idiots
Today famous failures as in financial assets. Tomorrow will become History!
In investing, we can't afford to keep making mistakes and thinking that we can learn from 999 losses and win 1 ten-baggers.
In investing, yesterday's losses will add on to your bigger recovery baggage to do much more just to break even.
In investing, should we listen to this man?


"I have not failed. I've just found 10,000 ways that won't work." -  Thomas A. Edison

or listen to this man ....


Rule No.1: Never lose money. Rule No.2: Never forget rule No.1 - Warren Buffett
  
How many 9s can you afford to fail?
One 9, double 99, or triple 999?
Me?
Just one 9 already half dead!
Why?
Uncle8888 is not Cat!
 
Cats got 9 lives!



9 comments:

  1. unless we have the edge of tomorrow.

    http://singaporemanofleisure.blogspot.sg/2014/07/trading-is-lot-like-movie-edge-of.html

    ReplyDelete
  2. Ha!Ha!
    Very funny!
    Comparing "HC" to "MC" (aka money capital)
    Companies can of course go kaput if making the wrong moves.
    But even a Billionaire in Germany was shot squeezed to death (committed suicide) by "VW" (IIRC) in the recent episode of GFC.
    Who are we?
    "Kacheem Puteh", of course we will die easily (aka bankrupt) many times over.

    ReplyDelete
  3. CW,

    You thinking too much again... Splitting hairs when there is no hair in the first place....

    What human asset and financial asset?

    1) Who is one who always stress and cheer the Mind part of the 3 Ms of Method, Money, Mind?

    The "Mind" of investing/trading is not part of human asset?


    2) For a business owner and entrepreneur, when their company has gone bankrupt, where do you draw the line between human and financial assets?

    An investor/ trader who lost his capital and blew his account to the tune of $1 million, is there is difference between this experience and a small business owner who lost $1 million in his business?

    You mean you never heard or read about entrepreneurs recovering from bankruptcies and rebuilding all over again? Some of these entrepreneurs have companies that are listed in SGX ;)

    And you never read about traders and professional fund managers starting all over again after they have busted their accounts or funds?


    3) Jesus Calls Matthew

    (Mark 2:13-17; Luke 5:27-32)

    And it came to pass, as Jesus sat at meat in the house, behold, many publicans and sinners came and sat down with him and his disciples. And when the Pharisees saw it, they said unto his disciples, Why eateth your Master with publicans and sinners? But when Jesus heard that, he said unto them, They that be whole need not a physician, but they that are sick. But go ye and learn what that meaneth, I will have mercy, and not sacrifice: for I am not come to call the righteous, but sinners to repentance.


    If you start a course at the CCs, would you turn away students who lost money before in investing? You throw WB's quote in their face as "encouragement"?

    But then, it these students never lost money in investing, why would they attend your course in the first place?

    Let those who never sinned cast the first stone ;)

    ReplyDelete
    Replies
    1. Wow!
      SMOL!
      You can even use Jesus' teachings as "applicable" to investing. Which is true in a way.

      But i think how many of us if bankrupted only once (even don't have to "run road'), where got the ability to do a "salted fish roll over (body)"?
      It may be forever you know.
      Therefore some if not most will run road.

      Delete
    2. temperament,

      That's why it's good to start young.

      Our bodies and spirits recover faster; less to loose in capital too!

      CW has socked his capital under his pillow, I use hedging, you always asking about inverse ETFs... See?

      The young play to win!

      We experienced?

      We play not to lose :(

      The stakes are too high for us now...


      CW is right in a way that for us experienced, we can't afford to make too many mistakes.

      But if we make no mistakes in our golden years of 60s and 70s, what's the point? That means we are still "stuck" in the good old days (when policemen wear shorts)... Living in the past....

      Delete
    3. Ah Hah!
      Cw is right and you are right. Two rights do not make a wrong. There must be something , somewhere that is not right. But in investing when you are right no guarantee you make money. But when you are wrong, sometimes you still can make money leh.
      So there is only who makes money not who is right or wrong. Right?
      Sorry wrong again (for asking right or wrong).

      Delete
    4. English: No clear answer for right, just right, exactly right?

      Maths: Right 100%, Partial right minus XX%, Wrong 0%

      No blame me. I only good at Maths and that how I write too.

      LOL!

      Delete
    5. CW,

      Good fun!

      That's a great analogy between the left-brained you and the right-brained me.

      You never fail to bring out the passion in me ;)

      We are 2 sides of the same coin; I look East, you look West.

      Delete
    6. O! oh!
      Stupid me; Our world is not only B&W, there is always G. Actually man is so clever that our World can be represented in "Technicolour" too. See you at the movie.

      Delete

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