Frank Comments by Dennis Ng on various Topics

[Dennis Ng]

haha.

it's interesting when 2 Investment Gurus start to say the other person got it wrong on investment views and must have done badly in investments...actually I would expect the 2 of them to behave more gentlemanly, since they are both elderly gentlemen at least above age 60. (Jim is close to 70 I think).

It's ok to have different views, as long as one put our money where our mouths are. And even if one is wrong, one loses money. No need for others to rub the salt in and said "guess what happened to Russia", or Marc Faber saying that Jim Rogers held to commodities despite commodities crashing in year 2008.

Actually, Jim Rogers could have easily avoided the Crash in commodities in year 2008 if he had sold out when Gold/Silver go below 200 day Moving Average.

Cheers!

Dennis Ng

Jim Rogers thinks Marc Faber has got it wrong about China, when he says the country is possibly headed for a hard landing, which would lead to a devastating impact on commodities around the world.

"Marc still does not understand China. There are going to be several hard landings in the next few years, but China’s will be less hard overall than others such as Greece, U.S., et al," Rogers told CNBC in an email.

Rogers says some parts of China's economy will have a "hard landing" but other parts will continue to boom. He says the commodity market will have a correction, but rebutted Faber's view that it would be devastating.

"Yes, there will be consolidations in the commodity bull market just as all markets have consolidations," he said. "In 1987, stocks declined 40-80 percent worldwide, but it was not the end of the secular bull market in stocks."

Rogers said he was still long commodities, adding that gold went up 600 percent in the 1970s and then corrected by 50 percent scaring a lot of people. "It then continued its secular bull market and rose 850 percent. Corrections are the normal way of all markets."

According to Faber, Rogers' bullish call on commodities is misplaced. "If I was always bullish about commodities and completely missed out on the crash in 2008, then obviously, having tied essentially my reputation to commodities, I'd continue to be bullish," Faber said.

But Rogers said Faber had got it wrong when it came to his call in 2008. "I proclaimed repeatedly far and wide that one should not buy commodities in the run up phase. I also explained that I was not selling mine since we were [and are] in a secular bull market," Rogers said.

"I explained that my shorts of Citibank, Fannie Mae, all the investment banks and homebuilders, plus my long position in the Japanese yen would protect me in any sell-offs. When one’s shorts decline 90-100 percent, it is a good year even when one’s longs decline," Rogers added.

According to Rogers, Faber is the one who has made many wrong calls, arguing that he "totally missed" the secular bull market in commodities that began in early 1999.

"Also back in those days, he and his friends proclaimed often that China was a mess and would continue to be so," Rogers said. "They all were wildly excited about Russia. Some of his friends even left China to start operations in Russia. We all know how that resulted."

source : http://www.cnbc.com/id/45520844

[Dennis Ng]

Hi all,

basically, the No. 1 and No. 2 economies in Europe, Germany and France do NOT want to be jointly liable for the debts of their 15 other "brothers". They say they cannot be jointly liable unless they can control how the 15 other brothers spend their money (fiscal policies).

So no way for Joint Euro Bonds.

So actually, the Euro Summit on 8 and 9 Dec 2011 may not lead to any concrete solution proposed to solve Europe's Debt Crisis.

While the Investment World is telling Germany and France that unless they stand behind the debts of the 17 countries in Euro, that the Debt Crisis in Europe will continue to spread...and Italy and Spain are likely to be the next to fall, and when that happens, even France and Germany might NOT escape unscathed.

Germany's Chancellor Merkel said that Europe debt crisis will take years to solve, the problem is Financial markets are not patient, they will NOT give her the much time needed to solve the problem. I hope she gets it before it is too late.

What an interesting Time we are living in? Expect the unexpected.

Cheers!

Dennis Ng

Merkel Says Joint Euro Bonds Unthinkable
By Tony Czuczka and Rainer Buergin - Dec 2, 2011 6:56 PM GMT+0800


German Chancellor Angela Merkel likened solving Europe’s debt crisis to a marathon, shunning investor calls for quick action while pushing for stricter budget enforcement and overhauling the region’s governance.

Addressing lawmakers in Berlin today before a Dec. 9 summit of European leaders, Merkel rejected joint euro-area bonds or trying to make the European Central Bank the lender of last resort as quick fixes. The ECB’s role is different from that of the Federal Reserve or the Bank of England, she said.

“Marathon runners often say that a marathon gets especially tough and strenuous after about 35 kilometers (22 miles),” Merkel told the lower house of parliament in a speech previewing the European Union summit. “But they also say you can last the whole course if you’re aware of the magnitude of the task from the start.”

Germany and France are leading the push for closer economic ties among euro nations and locking in tougher enforcement of budget rules to counter the debt crisis now in its third year. Merkel welcomed French President Nicolas Sarkozy’s “important” speech yesterday in which he warned that the euro region’s fissures threaten to blow the 17-nation shared currency apart. She is due to hold talks with the French leader in Paris on Dec. 5 to coordinate their approach to next week’s summit.
Cameron and Sarkozy

With financial markets and world leaders including President Barack Obama pressing Europe to end the crisis, Merkel said that while she favored involving all EU countries, fiscal union could be limited to the euro area. That would avoid the task of getting all 27 EU members to agree. U.K. Prime Minister David Cameron was due in Paris about 1 p.m. today for talks with Sarkozy.

Europe needs fiscal oversight that’s “binding” and includes “real automaticity” to punish states that persistently breach debt and deficit rules, Merkel said. European Union President Herman van Rompuy will make proposals on closer economic union on Dec. 9, when Germany will push for EU treaty change, she said.

Euro-area limits of keeping debt within 60 percent of gross domestic product and deficits within 3 percent of GDP must be enforced, she said. Merkel has said that countries that breach the limits could be sued in the European Court of Justice.

“The lessons are very simple: Rules must be adhered to, adherence must be monitored, non-adherence must have consequences,” she said today. Leaders have to “overcome fundamental flaws in the construction of the euro area.”
‘Exploding’ Euro Area

Merkel’s prescription echoed Sarkozy, who said late yesterday in a speech in Toulon, France, that the euro area risks “exploding” if members fail to converge on fiscal policies. Countries sharing the currency must prepare their budgets in common, narrow gaps in competitiveness and face tougher automatic penalties for rule-breaking, Sarkozy said.

ECB President Mario Draghi, who has criticized European leaders’ response to the debt crisis, signaled yesterday that the central bank could do more to help if governments push the euro area toward fiscal union.

“A new fiscal compact” is needed to start restoring credibility,” Draghi said in Brussels. “Other elements might follow, but the sequencing matters.” He didn’t specify what more the ECB could do and said its purchases of euro-area sovereign bonds to stem the crisis “can only be limited.”

Merkel said the ECB has to be free to move in any direction and that she won’t comment on what it does or doesn’t do. The ECB’s independence to take decisions “in any direction” must be guarded, Merkel told lawmakers.
No Praise, Criticism

The ECB is independent and must choose its own method of ensuring the euro’s stability “without being praised or criticized” and states must protect that independence by improving their finances, the Westdeutsche Zeitung quoted Merkel as saying in an interview released yesterday.

Sarkozy agreed at a meeting with Merkel and Italian Prime Minister Mario Monti on Nov. 24 to stop pressuring the ECB to step up its response to the debt crisis. Sarkozy retreated after Draghi criticized French calls for the ECB to use its unlimited power to backstop euro-area bond markets, something that Merkel has also repeatedly rejected.

Joint euro-area bonds are also “unthinkable” as long as governments retain national control over budgets, Merkel said today.

“You have to differentiate between credible enforcement powers and joint European control over revenue and spending,” she said. “And as long as this is so, joint liability for the debt of others is unthinkable. That also takes care of the debate over so-called euro bonds for now.”

To contact the reporters on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net; Rainer Buergin at rbuergin1@bloomberg.net

[Dennis Ng]

Steve Jobs on the Importance of Having Passion in what you do:

http://www.youtube.com/watch?v=PznJqxon ... re=related

You need to have alot of passion for what you're doing and it's totally true the reason is it is so hard and if you don't, any rational person would give up.

It's really hard, and you have to do it over a sustainable period and if you don't love it, and have fun doing it, you're going to give up, and that's what happened to most people.

The ones that end up being successful often times they are the ones that love what they did so they can persevere.

I agree with Steve Jobs, based on my personal experience.

Why I didn't give up in the first 7 years after resigning from bank in year 2000 was basically becos of my immense passion to learn how to master my own finances, so that I can achieve Financial Freedom and then teach others how to master their own finances.

This is what kept me going even when the going was tough, not just for 1 year, but for many years.

It is only from year 2008 onwards, 8 years after I gave up a cushy bank job and struck out on my own that I started to taste some success and the rest is history, it was exponential growth in the last 3 years...

[Dennis Ng]

Hi all,

just want to share one of my discoveries.

If you are trying very hard and not seeing much results, it can only be due to 2 reasons:

1. this is the Sowing (Sowing Season), the Reaping (Harvesting Season) is not here yet. If this is the case, don't lose focus, just focus on Sowing, the Reaping will come. You don't even need to think about the Reaping. Human cannot control the Timing and how much you will Reap, you can only control the Timing, How much, To Who, For Whom, What you can Sow.

2. you're doing something wrong. What can be wrong? You're NOT getting the results can be due to something wrong in your Thoughts, Beliefs and Actions, maybe 1 out of the 3, 2 out of the 3, or 3 out of the 3 (Thoughts, Beliefs and Actions).

Some people think that if I fail and I try again, harder this time, and if I don't give up, then I will succeed.

Sorry you may NOT. Why?

Becos if you're repeating the same Thoughts, Beliefs and Actions, then you'll always get the same Results, you will NOT get a different results, this is common sense. If you hope for a different result, it is pure self-delusion and some teachers even use a stronger word, Insanity.

Thomas Edison discovered 9,999 ways how not to make a light bulb light. He didn't repeat the same mistake 10,000 times and succeeded on the 10,000th attempt.

I have to share that in the first 7 years from year 2000 to year 2007, I didn't see much results despite the years of sowing. However, I need to share with you that during that 7 years, I didn't feel I'm working hard or trying hard, it might be hard in the eyes of other people, but to me, it didn't feel hard at all, I was just doing something I want to do, that's all.

In fact, each time I met with a failure, I just treat it as feedback that it didn't work, perhaps I can try something else that may work. I didn't treat the failures as failures.

Yes, I did put in long hours and this might be tiring or hard in the eyes of others, but to me, I didn't feel it was tiring or hard on me at all.

What I am trying to say is that it should NOT feel hard at all, that should not be what you feel if you're doing something something you're really passionate about or if you're doing something correctly.

Eg.when I learned how to play golf back in year 1999, I thought using more strength is what I need to do to make the ball fly...alas, using more force only led to more blisters on my fingers and palm. Then when I finally learned the Right way to hit the ball and swing, it didn't feel hard at all, it didn't not feel strenous at all, and the ball flew high and far, without me using more strength or Trying Harder.

So if you were to ask me why was I not getting the results then, it was a combination of 1 and 2, but I didn't repeat the same mistakes, I kept reviewing and changing and improving my Thoughts, Beliefs and Actions, and finally succeeded.

So if you have met with failures more than once, ask yourself, the 2nd and subsequent attempts did you do differently in terms of Thoughts, Beliefs and Actions.

If you didn't, for instance, you didn't change all 3 but just change actions but at the same time doubting that you would succeed, then I have to disappoint you to let you know that the result is likely to end in failure again. Becos you have some doubts, may be just a tiny weeny doubt that you will succeed. But just a tiny weeny doubt, you will still fail.

Watch this Star Wars video again and again, and then discover why did the student, Luke Skywalker failed and why Master Yoda succeeded in lifting up the space craft.

I'm sharing with you my discovery. Don't ask me why, I know I know and I am sharing with you the Truth. All you have to do is believe and learn from my sharing. It is NOT my theory, as I mentioned, it's just I realised this Truth after this many years.

Do not let your thoughts or opinion about me hinder you from learning this message from me, becos I'm just the messanger, focus on learning from the message itself.

Cheers!

Dennis Ng

Star Wars Yoda:

do or do not, there is no Try.

Yoda on the Law of Attraction:

http://www.youtube.com/watch?v=-rH2PkjB ... re=related

In this scene from The Empire Strikes Back, Yoda explains to Luke Skywalker some of the key principles about the Law of Attraction: use the force (aka the field, the divine matrix,etc) and the importance of belief.

In particular, he utters his most famous line: "Do or do not... there is no try." He also explains to Luke that his lack of belief is why he fails: "That is why you fail."

Finally, he reminds Luke that we are spiritual beings having a human experience, not the other way around: "Luminous beings are we, not this crude matter."

This is one of the all-time great scenes in the history of movies.


What is the Force?

http://www.youtube.com/watch?v=x2YQJsbb ... re=related

Obi-Wan gives a cliffnotes explanation of what the Force is. This clip belongs to Lucasfilms and George Lucas.

[Dennis Ng]

Property market follows economy very closely.

I think in the next 12 months or so, there will be several rounds of further downward revision of Economic Growth rate in Singapore, especially when the Global Financial Crisis hit us in year 2012...

So year 2012, Singapore economic growth rate in my opinion can be as low as 1% or even lower, instead of 3% (as forecasted currently).

Singapore property prices likely to start heading lower end 2012...especially with the looming huge supply of HDB flats and condos coming in year 2013 and year 2014...

Cheers!

Dennis Ng

The Straits Times
Dec 15, 2011
Economists downgrade 2012 growth forecast to 3%

By Magdalen Ng

LOCAL economists have slashed their forecasts for next year but still expect Singapore's economy to expand about 3 per cent - the top end of the official government forecast range.

A group of 21 economists and analysts surveyed by the Monetary Authority of Singapore (MAS) has offered a more subdued outlook as Europe continues to face an impasse in dealing with its debt crisis.

Another key concern is that China may also post weaker growth.

In the MAS survey, the median forecast for Singapore's growth next year is 3 per cent, down from the 4.9 per cent figure in the same survey in September. The Government expects the economy to grow between 1 per cent and 3 per cent.

MAS said the 'most likely growth range', according to the survey, was 3 per cent to 3.9 per cent, down from the projection of 5 per cent to 5.9 per cent expected three months ago.

While there was still some optimism in September that Europe's crisis could be resolved, things have since taken a turn for the worse as European leaders struggled to reach a common political stance.

Credit Suisse economist Joseph Tan, one of those surveyed, downgraded his forecast from 4.5 per cent to 3 per cent.

He said: ' With each (European) summit that does not resolve the crisis, the credibility of their leaders erodes, and the threat of a recession becomes more real.'

The numbers could have been a lot uglier, if not for the better news coming out of the US and China.

Recent US indicators have exceeded market expectations. China looks likely to avert a hard landing, and is expected to grow at about 8 per cent next year.

On why private sector economists are more upbeat than the Government, OCBC economist Selena Ling said: 'The linchpin is really your view of Europe, and on the margins, also China. Our view is that Europe will muddle through.'

Bank of America Merrill Lynch economist Chua Hak Bin said Singapore's policymakers are now responding.

Dr Chua, whose estimate for the full-year growth is at 2.8 per cent, said: 'The MAS eased Singapore's monetary policy slightly in October, and there are hints of more fiscal responses.'

The central bank survey also indicated economists expect slower growth in most sectors next year, except in construction, and wholesale and retail trade sectors.

Both financial services and manufacturing may suffer sharp declines, it found.

The financial services sector is set to grow 4.2 per cent, down from a full-year forecast of 9.4 per cent this year.

Factory output could fall sharply from this year's 8.5 per cent, to 3.4 per cent. It is already suffering weakened demand from an ailing global economy, and a broad-based rise in costs - from a tighter labour market after measures restricting the number of foreign workers were introduced, and a spike in material costs.

While these two sectors will experience the sharpest falls, they are also likely to rebound the fastest in a recovery, which was what happened in 2009, noted DBS economist Irvin Seah.

The forecast for headline inflation among the economists was 3.1 per cent, up from 2.8 per cent in the last forecast.

While inflation is expected to ease over the long term, prices are easing slower than predicted. Lower vehicle quotas have driven up certificate of entitlement (COE) prices, and rental costs have also been persistently high.

Labour costs are also set to be higher with stricter foreign labour policies, and disruptions to supplies arising from the Thai floods may also drive up food prices.

The full-year forecast for this year has been revised downwards slightly by 0.1 percentage point, to 5.2 per cent. This is still higher than the official Trade and Industry Ministry forecast of 5 per cent.

Inflation for this year is expected by the economists to come in at 5.1 per cent, up from the 4.5 per cent in the previous survey; unemployment rate is forecast to fall from 2.2 per cent to 2.1 per cent.

songyuan@sph.com.sg

[Dennis Ng]

I said that I think a Global Financial Crisis is coming in year 2012, someone commented that only God knows the future. I replied that stocks and property go through boom and bust cycle, after boom comes bust, as sure as Sunset everyday, NEED NOT be God to know Sunset will come.

The Rich and Real Investors know how to Read the Market Cycle, and that's how they can Buy Low and Sell High and get Richer and Richer. The average person typically buy when prices are high, just before market peaks and Crash and wonder why they are getting poorer and poorer.

Back in 1998, I was one of the average persons who lost half of my wealth in the stock market in the Asian Financial Crisis, then I realised I should learn from the Rich and Successful Investors HOW to INVEST and When to buy and When to Sell, and reach multi-millionaire status today.

Just like everything else, investing can be learned.

[Dennis Ng]

As long as Dow does NOT go above 12,400, it is likely to head downwards than upwards. If above 12,400, then there might be chance of reversal of downtrend to uptrend.

But each rebound (market rally) seems to get weaker and weaker, and that to me means that the chance of reaching the Tipping Point for U.S. stock markets from uptrend to downtrend is increasing.

Once Dow move down decidedly below the 200 day MA, it will trigger the next downward movement for Global Stock Markets.

Currently, Dow and the U.S. stock market is the Strongest Market in the world, and China (Shanghai) is the weakest, already clearly broke below the psychological important support level of 2,300.

As I said, in the next Bear Market, I won't be surprised if Shanghai market go as low as 1,700 (about 50% below the high of 3,400 reached in year 2009. I said this months ago, and I remember when I first said it, many could NOT believe the possibility of this happening).

I also said that STI in the next Bear market can go as low as 1,650 (50% down from high of 3,313 reached in Nov 2010), again NOW many analysts cannot imagine this happening and I'm the Lone voice in saying this.

In the next Bear market, Hang Seng can go as low as 12,000, or 50% below the high about 24,000 reached this round.

Just becos I talk about a coming Financial Crisis and there are people who mistakenly think that I'm being pessimistic.

It's NOT being pessimistic or optimistic. No matter what you think, it does NOT change anything and we cannot PREVENT the Financial Crisis from happening.

What we can do as individuals is to prepare and position ourselves, so that we NOT only Survive the Crisis but even THRIVE in the Crisis and become even Richer after the Crisis ends.

And I'm sharing my views hoping that my sharing can help "save" as many people as possible from losing most of their wealth in the coming Crisis. Otherwise, I can keep all these knowledge to myself and keep quiet.

Time is running out, the next Global Financial Crisis would hit us very soon, it is in everyone's interest to quickly increase your Financial Knowledge so that you can Survive the coming Crisis but hopefully, even become Richer when the Crisis ends.

This is why I rushed to publish my book to educate the public on "What Your School Never Taught You About Money".

Of course, you can think that I'm trying to promote or sell my book, well, you can have any opinion about me.

ALL I know is that my intention is to Help people, to help educate the public, to try to save as many people from losing most of their wealth in the coming Financial Crisis.

Whether you believe it or not, it does NOT change my True Intention.

http://www.kinokuniya.com/sg/index.php/ ... 9810705060

[Dennis Ng]

Singapore Transport Minister keep boasting about our World Class Transport System, including the MRT system.

We paid the Highest Salary in the whole world to our Transport Minister, as we need to pay the best to get the BEST talent.

Well, last few years, anyhow issue COE until next few years need to reduce supply of COE to reduce Traffic Congestion.

MRT system NOT prepared for the huge increase in population in last few years (about half a million more people coming and living in Singapore), resulting in over-crowding MRT trains.

Bus system NOT prepared for the huge increase in population in last few years (about half a million more people coming and living in Singapore), resulting in over-crowding Buses.

Insufficient bus drivers until they hire in BULK bus drivers from China which have resulted in increase in accidents involving buses and also "bizarre" and embarrassing situation of Bus Driver losing his way and driving the bus round and round... (sounds unreal but happened in Singapore which boasts World Class Public Transport System).

SBS bus driver takes passengers on 2-hour ride

http://sglinks.com/pages/2187100-sbs-bu ... -hour-ride

So much for paying the HIGHEST Salary to get the Best Talent in Parliament.

Well, today, many people find out just how World Class our system and the MRT staff service are.

http://www.flickr.com/photos/todaydigit ... 429878931/

And out of the Blue, the 2 BIGGEST Taxi Operators announced increase in taxi fare by about 30% (that's my experience).

I wonder is this a Cartel fixing prices? I think the Competition Commission of Singapore should look into whether there is a possibility of price fixing by Major Market Players.

http://app.ccs.gov.sg/


North-South MRT Line breakdown hits thousands
By Imelda Saad | Posted: 15 December 2011 1958 hrs

SINGAPORE: A second MRT disruption in two days affected thousands of evening peak-hour commuters.

Train services on both directions of the North-South Line from Marina Bay to Braddell stations were disrupted on Thursday evening.

Emergency services were spotted outside MRT stations, and peak-hour traffic on the roads was also affected.

Traffic congestion was reported on Orchard Road between Dhoby Ghaut and City Hall MRT stations, as many who were out of the stations opted for taxis.

Services on southbound trains resumed at around 9pm.

An SMRT statement says north-bound train services between Marina Bay and Bishan stations will be closed and will not be up for the rest of the night.

However, north-bound services from Ang Mo Kio to Jurong East stations, as well as all south-bound train services are still running. The East-West and Circle Line train services are continuing as normal.

SMRT says a dedicated one-way bus bridging service will run from Bishan to Ang Mo Kio stations. Circle Line passengers alighting at Bishan and travelling north towards Woodlands are advised to take this bus bridging service or other modes of transport.

A two-way bus bridging service is available between Marina Bay and Ang Mo Kio stations. Commuters are advised to take alternative modes of transport even though bus bridging services are provided.

An SMRT spokesperson told Channel NewsAsia that the breakdown was due to a "power rail problem".

According to an SMRT statement, preliminary investigation shows that around 40 metres of the power rail has been damaged between City Hall and Dhoby Ghaut stations.

"SMRT staff are now on site attending to the fault. We will work round the clock to repair the damage and hope to get the north-bound train service for this stretch up by tomorrow morning," says SMRT.

Passengers affected by the breakdown described scenes of confusion, as they tried to make sense of the situation.

Commuters reportedly banged on train doors and some even used a fire extinguisher to break the windows of a train stuck underground due to lack of ventilation.

One commuter, Adam, said he and hundreds of passengers were stuck on the train travelling from Somerset to Orchard. He said the electricity appeared to have been cut off, as the train was in total darkness. Neither did the air-conditioner seem to be working.

Adam said: "We have been stranded there for one hour, and it is very hot and stuffy. The train doors are all closed. The light also suddenly (switched off), so it's total darkness. The train doors (are) also not open, and it is terrible.

"A lot of people are angry, banging on the windows to break the windows...so that the air can come in. It's very stuffy, it's like a sauna."

Adam later told Channel NewsAsia that the train appeared to have been towed to Orchard MRT station. Someone in one of the carriages then forced the train doors open, freeing the trapped passengers.

Channel NewsAsia viewers also sent in pictures of commuters being evacuated and walking along the track in the train tunnel. One viewer, Nizam Rahim, sent in a picture of his wife walking on the track in the tunnel at the Dhoby Ghaut station.

Another commuter, who wanted to be known as Mr Tan, spoke to Channel NewsAsia from Raffles Place MRT station.

He said he was on his way to work, and heard several announcements asking passengers to avoid the North-South Line and to take the East-West Line instead.

Mr Tan said: "A lot of us....all have problems. There are so many people coming downstairs and people telling them the train is not moving anymore. I think the crowd is getting very big.

"The only thing I know is that I'm late for work, so I have to take an alternative route. So I quickly ran upstairs to get a taxi, hopefully, I can get a taxi. I'm still trying to get a taxi, actually."

Another spoke to Channel NewsAsia from Toa Payoh station and said there were long queues of people. They seemed to be requesting refunds, he said.

Writing in his Facebook, Transport Minister Lui Tuck Yew said: "I have been following the incident of the MRT breakdown from Cambodia. I am especially concerned over the well-being of the people who were reported to be trapped in the trains for an extended period of time before they made their way to safety.

"There have been a number of train disruptions in recent days. I do not know if these are isolated incidents or whether there are systemic and more serious underlying issues causing these breakdowns.

"We will therefore conduct a thorough health check on our train systems, determine how the faults happened and also whether the maintenance, communication and recovery processes were adhered to and can be further improved.

"I have asked LTA to assemble a team of relevant experts, including possibly relevant overseas experts to help us in this review."

- CNA/ck/ir

[Dennis Ng]

Teresa Hsu, what an extraordinary and unique lady.

Teresa Hsu, a person who has my utmost respect.

She quitted her job to do social work full time since age 29 and even at the age of 113 early this year, she still kept on helping others.

We must learn from her and emulate her spirit of selflessness and to contribute to the society. http://www.channelnewsasia.com/stories/ ... 31/1/.html

She was catholic for most of her life but converted to Buddhism at age 108.

When she was asked what is Religion? Guess what did she say? She said ALL Religion is Love, selfless love, to love all of humankind...

http://www.youtube.com/watch?v=_Eru8LEr5Ug

She does NOT buy any clothes, she lives and dresses like the poor, so that when she visits and help the poor, the poor will not feel awkward in her presence...

Everything she does she thinks of others, she is an embodiment of Selflessness, if everyone in the society can just emulate 10% of her selflnessness, the world will become a much better place.

When she passed away on 7 Dec 2011 she didn't hold any ceremony as she didn't want to inconvenience anyone....it goes to show that she really lives and think about others only, not for herself. She is truly selfless.

And I'm glad that I donated some money to help her in her cause 2 months ago. It reminded me of a saying that there are 2 things that we can't wait in this life:

1. filial piety
2. do charity

[Dennis Ng]

How will the market be in 1 week's time? I don't know.

How will the market be in 1 month's time? I don't know.

All I know is that if we use current stock market levels as a Guide, the next Bear Market would see prices falling by another 30% to 40%..., while some stocks might fall a further 40% to 60%.

So I might be making another 30% to 50% as market goes down and make 60% to 100% as the market eventually recover in the next round of Bull market...making money and getting Richer is almost guaranteed by adopting a Market Cycle Investment Strategy.

So I can easily make money as a Market Cycle Investor, and need to spend very little time to analyse or monitor the market as Major Market Trends are NOT formed within days or weeks and NEITHER do they change from downtrend to uptrend in days or weeks.

So anyone thinking that stocks are cheap right now, and going into market to "bargain hunt", please don't say I never warned you. eg. City Development is now about S$9, but easily can fall below S$7 in the Bear Market in the months ahead.

[Dennis Ng]

2 years ago, I was back in Outram Seconday, my alma mater, to share with the graduating students "What Career to Choose?" for their Career Guidance Day.

I shared with them "What do successful people share in common?" http://www.youtube.com/watch?feature=player_embedded&v

Hi Dennis,

Thank you for re-sharing this. This comes in time for my son who is graduating from his secondary school (aiming to be Game Designer) and for my daughter who is keen to know how to be successful. She didn't do well in her PSLE and was in Normal stream in Sec 1. She did well in Sec 1 and was allocated to Express stream in Sec 2. Her results were marginal and she couldn't understand why her brother can score so well when he put in so little effort (playing games most time but he enjoy watching discovery & history channels). Your sharing will remind her not to give up, she does have big goal to be a Lawyer though

"If you continue to try, you will have hope, success will be yours one day."

Thank you,
Eileen

Hi Ms Tan,
I'm so happy to hear that.

Yes, show your children the video, let them know that this person "Dennis Ng" who is an author of 3 books got F9 for his English exams during mid-year exam in Secondary 4...

In Primary 2, my Chinese was 2nd last in the class as well.

So this guy who almost flunked his English and was poor in Chinese now is an author of 3 books, 1 bilingual, 1 100% Chinese, 1 100% English, so if Dennis can do it, so can anyone.

P.S. and my chinese book won the Popular bookstores's Inaugural Readers' Choice Award 1st Prize for Chinese Category (Chinese is my 2nd Language).

If anyone notice, most seminar speakers in their advertisement would claim How Smart and Good they are, while my advertisement always have these words "How an Average Singaporean".

I'm not super smart, nor super in anyway, I'm just an average Singaporean who learned to master my finances and reached Financial Freedom and multi-millionaire status by age 42, earning a middle class household income of S$6,000 a month.

The reason I decided to conduct seminars to teach is that I hope my sharing will help more people (1,000,000) people to reach S$1 million at least.

And together, with the 10,000 seminar graduates that we should have in 3 years' time, all these 10,000 once middle-class, now millionaires, would then do our part for the society, in terms of voluntary work and donations. So that we can then help the poor and the less fortunate in the society to help to Empower them, to alleviate themselves from poverty (yes, they do it themselves, with our guidance and help).

This is what wakes me up everyday, this is what drives me everyday, to post in this forum, whether in health or in sickness.

[tan12]

Like Eileen (Ms Tan), I am also trying to apply many of the things I learnt from Dennis's seminar with my 2 young kids below 6.

The knowledge from the stocks and property seminars opened my eyes, but what was equally if not more insightful was the one day seminar on "How to save and accumulate 1 million dollars". It was the foundation and thinking behind the investment decisions and knowledge, which will go a very long way.

The parts about thinking positive, CBA, "upside-double-downside" thinking are things I am slowly trying to nurture the children with, albeit in a simple manner right now.

[Dennis Ng]

Like Eileen (Ms Tan), I am also trying to apply many of the things I learnt from Dennis's seminar with my 2 young kids below 6.

The knowledge from the stocks and property seminars opened my eyes, but what was equally if not more insightful was the one day seminar on "How to save and accumulate 1 million dollars". It was the foundation and thinking behind the investment decisions and knowledge, which will go a very long way.

The parts about thinking positive, CBA, "upside-double-downside" thinking are things I am slowly trying to nurture the children with, albeit in a simple manner right now.

Hi tan12,
yes, each of the 3 seminars actually teach different things, with Mindset, Beliefs and Investment Principles mainly taught in How to Save and Accumulate One Million Dollars Seminar.

Some of my seminar graduates have found the Million Dollar seminar changed their Mindset totally and some even made career changes encouraged by CBA taught in the Seminar.

[Dennis Ng]

Short term trading vs Investing, what's the difference?

Based on the Rich people I know, including myself, NONE of us become Rich or make millions from short term trading. We make millions by Investing, by Buy Low, Sell High based on Major Market Trends.

There are times we do NOTHING, and money sits there idly, (actually we purposely raise our Cash level to have Opportunity Fund). Becos to a Real Investor, there is a Time to Invest, and there is a time to Raise Cash and do nothing. eg. right now I have 70% of my wealth sitting in Cash.

I don't bother about inflation, becos when I deploy my Opportunity Fund, minimum returns I aim is 50%, so what is 5% inflation to me?

Becos when we invest, we don't invest like 1% to 5% of our wealth (that is what a prudent trader should limit max exposure to each trade), we may invest 50% of our wealth or even 100% of our wealth fully invested (but in different investments).

And we deploy our funds to make minimum 50% returns. So imagine, if a person has wealth of S$100,000. Investing 100% of it, and make 50% make S$50,000. While a trader has S$100,00, cap trading to max 1% to 5% of wealth to a trade, or only traded $5,000 and even if make 100%, only make $5,000.

So in this example, the Trader needs to have 10 winning trade to make as much money as the Investor making a 1 time investment. And what if the investor makes 2 rounds of 100%....well, then the trader is left further and further behind, since the Investor now would have S$300,000 (grew from S$100,000) and the Trader might have S$100,000 + S$10,000 or S$110,000 Wealth.

Trading is lots of fun, quite a lot of action, but really, look around at all the Rich people around, and you would realise that NONE of them make REALLY Big money from Trading.

Even Remiser King Peter Lim (a billionaire) cautions people that one can't make much money from trading when he was interviewed.

Asked about his comments on making money, here's what he said:
Making money

It's very difficult to make money from trading. People who get rich are those who buy a company, build it, run it. Most of the traders, they come, they make money, because they have this gambling instinct. They take the money and spend it. The minute they lose money, they got no money to pay up. - Peter Lim, Billionaire, and one of the Richest people in Singapore.

[Dennis Ng]

that day I asked a friend:"do you know why patients are called patients?

Becos a patient needs to have lots of patience, wait, wait, wait.

And also patience to deal with doctors who seem to have not much feeling, talking about medication condition like it is just some technical term and talking about human bodies like machines.