I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

Currently; it about 54% to destination!


Click to email CW8888 or Email ID : jacobng1@gmail.com



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
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Saturday, 2 July 2022

One Nice Example Of Illusion Of Wealth In The Market

SINGAPORE (EDGEPROP) - Rumours are that liquidators are trying to seize the assets of Singapore-based crypto hedge fund Three Arrows Capital (3AC), which became the latest victim of the crash in cryptocurrency. Two partners at advisory and consulting firm Teneo have been appointed to handle 3AC’s liquidation.

3AC was put under liquidation by a court in the British Virgin Islands on Monday, June 27, after 3AC failed to repay creditors. On June 30, the Monetary Authority of Singapore (MAS) reprimanded the firm for providing false information and for breaching fund management industry licensing rules.

The firm was co-founded by former Credit Suisse traders Su Zhu and Kyle Davies at the kitchen table of their apartment in 2012, according to a Bloomberg story last year. The two of them are only in their mid-30s.

Zhu is co-founder, director, CEO and CIO of 3AC, while Davies is co-founder and chairman of the firm. Their crypto assets had reportedly been worth several billion dollars at one point.

CW8888: One of our tasks as investors is to recognize or acknowledge this illusion of wealth in market during bullish market and has strategy in place to keep part of this illusion of wealth in the market really safe from the next market crisis. 

So my sifu is right!

It is far better to regret not making more money than to feel sorry of losing your hard earned money.

My sifu started trading and investing at age of 18 following the foot-steps of his father into the stock market. 

Choose Regret or Sorry?

It is in our own hands. It is our own making!

Read? Lesson NOT Learnt in 2007 STI Bull and Lesson Learnt in GFC Bear And Then Applied Along The Way To COVID-19 Mini Bear and Continue ...










7 comments:

  1. CW,

    Mid 30s become billionaires, they are a lot better than their former Credit Suisse bosses!

    Youths, your strength is you don't know what cannot be done!


    Why let cash rot in the bank when we can be 100% vested?

    Why be 100% vested when we can leverage up to the gills?



    After youths "survive" their first crash got sound and discover illusory wealth...

    They become veterans who take profit, put hedges on, diversify, and wait for it.... Put money in CPF!?

    How to beat youths (in percentages) like that with shrunken bxlls?

    LOL!



    ReplyDelete
  2. As usual, MAS reprimanding only when the firm has liquidated, and likely the 2 founders & their families aren't in S'pore anymore.

    It's going to be another footnote of history of not confusing brains with a bull market, joining Lehman, LTCM, Archegos, Terralabs etc.

    But I doubt that they are paupers today. Going from billionaires to multi-millionaires suck, but it's still something. I won't be surprise if their networth are likely still in the 9 figures or maybe low 10 figures.

    Zhu became new citizen in 2016 ... dunno if he's going to hold on to the pink IC going forward.

    Zhu & his wife bought the $48.8M Yarwood Ave GCB last Dec & transferred to a trust under their kid's name this March. Zhu is now trying to sell this GCB ... good chance may fetch a lower price than purchased.

    The couple also owns a $6M Goodwood Grand condo. And there's another $28M bungalow solely under the wife's name in Dalvey Rd.

    PS: Another consideration for assets which are easily liquidate-able & run road-able. :P

    ReplyDelete
    Replies
    1. Did they still make millions from past fund Mgmt fees as earned income?

      Delete
    2. They likely did a fair bit of cashing out along the way. ;)

      When you have 10 billion in a single company or entity, makes sense to convert 5% or 10% into cash.

      Delete

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