If calculus or algebra were required to be a great investor, I'd have to go back to delivering newspapers. - Warren Buffet.
According to Warren, the maths skills you need to be a great investor are addition, subtraction, multiplication, division, and the ability to rapidly calculate percentages & probability. Anything more, as the French would say, is a waste. Anything less and you can't play the game.
What is one of the world greatest investor trying to tell us ?
You don't need to study rocket science to become an investor who makes money.
There are too many investors out there calling themselves "investors" but not making any money in the market.
So the question is, if you don't need to be a genius to become an investor who makes money, how come people are not making money in the market?
I mean an investor who makes money both in the bull market as well as the bear market.
Even a fool will have no problems making money in the bull market you see.
Although you do not need to be a genius to become an investor who makes money in the market, but you also can't be a fool and expecting to become rich just by anyhow investing.
You need to get an education in the area of investing. A proper education to see some proper returns on your investment.
When you do not understand investment, you will feel insecure when you are asked to invest.
And, you should feel insecure!
I've talked to people about investment before, "hey! since you got extra fund, why not invest in XYZ?"
"I need to save money leh, next time need to buy house"
They talked as if once they invest the money, means like they are throwing away the money, sure lose one. Met them before ?
That is also one of the reason why people aggressively save money or buying savings plan.
Because they don't understand how investing works, as well as how to protect their capital, that's why they prefer buying savings plan and I think they should buy into savings plan instead of investing.
Until they decided to get educated.
Because savings plan in a way, most of it protects your capital as well as giving you roughly 3% returns every year, which is higher than most of the bank in singapore.
But have you ever wondered where do those financial institutes get the money to give you your 3% returns every year?
Think about it...
Merry Christmas
&
Happy New Year!!!
Tuesday, December 28, 2010
Thursday, December 9, 2010
Branding yourself !
When I mentioned about branding yourself, I don't mean LV or Gucci from head to toe.
Although that might be part of how you want to portray yourself to the rest of the world.
And I always believed in dressing well. Because you doesn't get a second chance to make a first impression.
When people first met you, they doesn't know your personality you see.
What makes people want to start communicating with you will be how they see you.
Have you met people whom at the first glance, you wouldn't want to be their friends?
Although I'm a really nice guy, sometimes when I met somebody for the first time, I don't really feel like talking much to them. I think some of you might know what I'm talking about.
But when I talked about branding yourself, I mean creating such values or being so specialized in something that people relates that area to you.
You can brand yourself no matter who you are or what you are doing for a living.
You can create a positive brand or a negative brand, knowingly or unknowingly.
If today, you are an employee of a company. You must find a certain scope of your work which you can excel so well that nobody else does it better than you.
So that when that scope of work needs to be done, people will say, " hey! get her, she is best at that!"
If you're a self employed, be it financial consultant or real estate agent, you need to find an aspect and be so good at it that when people seek that area of service, they think of you.
Example, you might be a financial consultant and you are so well versed in the area of legacy planning. So when people wants to leave a legacy for their loved ones or any charitable organisation, they will think of you and would want to engage you for that area of service.
You are tons of other financial consultants out there with the license to sell exactly the same products which you're selling, but what makes people want to engage you ? Branding!
Or you might be a real estate agent that is so well versed in the area of finding new homes for family with elderly. When a family with elder parents want to buy a new home, the first person they think of will be you!
When you're able to brand yourself in that area of expertise, you will be able to command a higher premiums, thus resulting in more income for yourself.
You're still doing what you are doing, nothing has changed.
In the same company, same position, same boss.
The only thing that has changed is your mindset.
And everyday you think, "How am I able to add more value to what I am doing?"
By asking yourself this question every morning before you start your day, spend 5 - 10mins thinking of new idea to add more value into your work.
Eventually, everything else changes, becuase you choose to change your attitude.
But it all starts with the first step. Changing your mentality.
But, how do we translate our efforts directly into compensations ?
one golden rule: ASK!
As an employee, most of your boss would wants to keep your salary there, where it is right now.
How many employer actually comes to you, "hey john! great performance man! I'm going to give you $1000 increment every month!"
You need to "ask" tactfully.
You might be asking directly for a pay raise, or you might be saying that a competitor firm is offering you "this" much.
But you need to create enough value for the company so that your boss will want to give you that increment!
For Self employed, also we asked!
most of the time, directly, this is my fee.
want or don't want.
But before that we need to show our clients the value of engaging us before asking the "want or don't want" question.
And being able to "brand" yourself and stand out from the rest, the chances are, you are going to get more income for yourself as compared to your peers, and thus, reaching your goals at a faster speed!
Race towards your goal!
Although that might be part of how you want to portray yourself to the rest of the world.
And I always believed in dressing well. Because you doesn't get a second chance to make a first impression.
When people first met you, they doesn't know your personality you see.
What makes people want to start communicating with you will be how they see you.
Have you met people whom at the first glance, you wouldn't want to be their friends?
Although I'm a really nice guy, sometimes when I met somebody for the first time, I don't really feel like talking much to them. I think some of you might know what I'm talking about.
But when I talked about branding yourself, I mean creating such values or being so specialized in something that people relates that area to you.
You can brand yourself no matter who you are or what you are doing for a living.
You can create a positive brand or a negative brand, knowingly or unknowingly.
If today, you are an employee of a company. You must find a certain scope of your work which you can excel so well that nobody else does it better than you.
So that when that scope of work needs to be done, people will say, " hey! get her, she is best at that!"
If you're a self employed, be it financial consultant or real estate agent, you need to find an aspect and be so good at it that when people seek that area of service, they think of you.
Example, you might be a financial consultant and you are so well versed in the area of legacy planning. So when people wants to leave a legacy for their loved ones or any charitable organisation, they will think of you and would want to engage you for that area of service.
You are tons of other financial consultants out there with the license to sell exactly the same products which you're selling, but what makes people want to engage you ? Branding!
Or you might be a real estate agent that is so well versed in the area of finding new homes for family with elderly. When a family with elder parents want to buy a new home, the first person they think of will be you!
When you're able to brand yourself in that area of expertise, you will be able to command a higher premiums, thus resulting in more income for yourself.
You're still doing what you are doing, nothing has changed.
In the same company, same position, same boss.
The only thing that has changed is your mindset.
And everyday you think, "How am I able to add more value to what I am doing?"
By asking yourself this question every morning before you start your day, spend 5 - 10mins thinking of new idea to add more value into your work.
Eventually, everything else changes, becuase you choose to change your attitude.
But it all starts with the first step. Changing your mentality.
But, how do we translate our efforts directly into compensations ?
one golden rule: ASK!
As an employee, most of your boss would wants to keep your salary there, where it is right now.
How many employer actually comes to you, "hey john! great performance man! I'm going to give you $1000 increment every month!"
You need to "ask" tactfully.
You might be asking directly for a pay raise, or you might be saying that a competitor firm is offering you "this" much.
But you need to create enough value for the company so that your boss will want to give you that increment!
For Self employed, also we asked!
most of the time, directly, this is my fee.
want or don't want.
But before that we need to show our clients the value of engaging us before asking the "want or don't want" question.
And being able to "brand" yourself and stand out from the rest, the chances are, you are going to get more income for yourself as compared to your peers, and thus, reaching your goals at a faster speed!
Race towards your goal!
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