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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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

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Thursday, 22 March 2018

You Love Your Job But Your Company Doesn't!!! (3)

Read? You Love Your Job But Your Company Doesn't!!! (2)

As usual, Uncle8888 went for his "free" coffee black and before he could sit down. Someone came over to his seat and tapped his shoulder and called out his IC name!

One ex-colleague whom he has never met for more than 20 years.

He was retrenched at 43 during AFC 1998. After two years of looking for job, he finally landed Project Manager job with MOE; but he has to work long hours; and sometime has to burn weekends too.  

After  one and an half year; he gave up after thinking why he has to work so hard for others (bosses?) and decided to become full time property agent working hard for himself. 

Then came SARS; property market crashed big time!

He bought two properties at very good price for himself instead of finding clients to buy them. 

These two properties finally leaded him to financial independence. 

Both properties, one in Botanical Garden and other one in Tiong Bahru went enbloc!

His third property is currently in the process of enbloc!

Luck or unlucky to be retrenched?

Luck or unlucky to have sucky job?

Only hindsight then we know. 


  1. Hi Uncle8888,

    I would say your ex-colleague reaped the fruits of his labour thru guts, patience & luck! :)

    He took on very concentrated risk to invest (most?) of his available resources into properties, when he himself was working in property and during a sustained property downturn.

    Unless he had adequate spare cash to cover many years of household expenses, otherwise it would have been very stressful to manage rentals & tenants in a down market when he needed the rentals for household expenses, to cover the mortgages, and also worrying when the property market can recover. These may be some of the things we don't see or experience! ;)

    I suppose the key thing is that by having a higher knowledge of any particular asset --- property, stocks, start-ups, private equity etc --- it should give you greater confidence to know when that asset shows terrific value & the confidence to pounce on the opportunity.

    1. He said he already have $500K to invest before SARS crisis

  2. It's always who has holding power(plenty of liquidity)shall most probably thrives.

    That we know even a company that makes money can go bankrupt if expanded too fast and unable to get credit. Unable to service it's debt.

    Does your ex-colleague used a lot or very little leverage for the 2 properties?

    i was always the one who wanted to use leverage for properties but my wife disagreed.

    i calculated as we were "DINK,ND" the most we downgraded our standard of living if the worst come to the worst.

    We wouldn't be a bankrupt, no matter how.

    Nevertheless, we missed our chance but it's O. K. (Wife is HOME MINISTER U know).

    We have been sleeping peacefully almost all nights and we eat or travel anytime we like even after we have a kid.

    Even now.


    1. Bank loan has formula to determine how much one can borrow. Firstly; you have to show your money to the bank before talking about how much you can leverage.

  3. CW,

    This is next level kind of "speculation" right?

    During SARs, you bought DBS, Sembcorp, Keppel - and got your 10 baggers.

    Your friend bought properties - and he got his first bucket of gold for financial independence. Now he just buy/sell properities on the side beside being a property agent? Talk about insider knowledge ;)

    Some start their own businesses.

    Some move up the corporate career.

    Some struck Toto ;)

    Eight immortals cross the eastern sea - each with their own "vehicles" :)

    This is life. Mr Ong lost his horse - good or bad who knew?


    1. I asked him how he passed his time. Sometime bring clients to see properties and other days find people to lim kopi.

  4. Retrenched in 1998 vs 2018 at 43 in SG. Maybe results will be very diff.

    1. In those days ; it was common for the retrenched to work part-time or full-time taxi driver, insurance or property agent. Not sure in 2018; still can or not?

    2. Many who were retrenched in O&G driving grab/uber now. dun be surprised some were GM in the past?

      Insurance and prop agent now is very difficult. So choices are very limited for PMET in late 40s, 50s retrenched in O&G or shipyard industry. Quite jialat


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