I took 15 years to reach S$1 million, but 2 years to S$2 m..

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Dennis Ng
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Post by Dennis Ng »

more people in Singapore are taking up Forex Trading....

One guy says it's very exciting, on some nights he made S$200, sometimes he lost S$300....

Trading takes up time and by making or losing S$300...it's a long, long way to become Rich.

The Rich do NOT trade, they invest, and when we invest, we look for min 50% to 100% upside. So if invested S$20,000, double becomes S$40,000, then S$80,000, then S$160,000.

And the Smart Investors limit our downside...our rule is Upside potential must be at least twice of Downside Risks...By doing so, it's just inevitable that we become Richer over time...

If you want to be Rich, who should you learn from? The answer is obvious.

Learn what the Rich do to become Rich. I observe that the Rich only MAINLY invest into Stocks and Property...not Forex trading NOR Options Trading.

Cheers!

Dennis Ng

Mar 31, 2011
More investors brave forex roller-coaster
They hope to make quick buck in volatileforeign exchange markets

IT MANAGER Roy Lim has been happily living on a knife-edge for the past two weeks, glued to his computer screen for three hours a night, watching numbers jump from blue to red, fingers poised to buy or sell.

Mr Lim, 32, is part of a growing group of investors lured by the prospect of making a quick buck in the volatile foreign exchange markets.

'Not too bad so far; I've been making about $200 a night on average, trading the Australian dollar,' he said.

'It's scary as some days I lose $300, and some nights I make $400. It's chump change compared to what institutional traders make but I find it quite exciting.'

Since the earthquake, tsunami and nuclear crisis in Japan, equity and forex markets have undergone huge swings over short periods, providing ideal trading opportunities for investors who are fast - and brave - enough to take a gamble.

Take the Australian dollar. It fell by almost 9 per cent in two days against the yen on news that there was a nuclear crisis in the making earlier this month.

It has since rallied by about 14 per cent to hit a 10-month high of 85 yen yesterday, and is at a 29-year high of US$1.0334 against the US dollar.

Analysts say this was largely because people were back on the carry trade.

The carry trade involves taking loans in a country with low interest rates and buying assets in countries with higher rates. Investors can then pocket the difference.

Australia has a cash rate of 4.75 per cent, one of the highest among developed nations, while Japan has near zero rates.

'Japanese investors are eyeing (better) yields offshore, whether it be in Australia or America or elsewhere, and that is what's pushing the yen down on a broad front,' Mr Joseph Capurso, strategist at Commonwealth Bank, told Reuters.

The increased volatility has seen higher activity among online trading platform providers such as CMC Markets, IG Markets and Saxo Capital Markets.

Trading activity has gone up some 27 per cent in the past few weeks compared with January and February, said CMC's head of education sales, Mr Goh Jun Yi.

'In periods of market volatility, as we are seeing now, there tend to be more trading opportunities and indeed we have seen a 20 per cent increase in trading at CMC overall in February on the back of global events,' he added.

Some investors have also taken to trading the Singapore dollar, which is traditionally a low volume and less volatile currency.

Banker David Chee, 29, is one betting that the Singdollar will keep rising against the euro and US dollar.

'The Singdollar is less volatile than other currencies, but I do know the local economy so I feel more confident about taking positions,' he said.

Regardless of the excitement going on in the financial markets, the local managing director for IG Markets, Mr Peter McDermott, warned that forex carries a fair amount of risk.

It mainly takes advantage of leveraged trading, meaning traders can take huge positions with the outlay of small sums.

'It's not more risky per se but the movements are quite big. For instance, $20,000 can buy you $1 million worth of currency,' he said.

'You can win big but also lose if you are holding $1 million. So traders need to be aware of that,' he added.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
findleowong
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Post by findleowong »

Recently, I have received a Forex newsletter from a local provider on using $3000 monthly, gain 6% on a monthly basis and within few years, you will be millionaire.

Meaning one year, the gain will be 72%.

If that the case, the person could outbeat George Soros and other high net worth hedge fund managers.
:roll:
yhendra
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Post by yhendra »

Don't forget about a huge losses incurred by Oei Hong Leong in 2009.

if his net worth S$308 million as reported here, a $1 Billion is more than 3 times of his net worth!
What a mistake he made... He was not a forex trader (pls correct me if I'm wrong)
If you are wrong then you always find something/someone to blame...

This is a huge lesson... but people forget and people like instant gratification to get the $$$ into their bank account.
But, always in denial if the $$$ out from their bank account....

http://www.asiaone.com/Business/News/My ... 42468.html

--------------
Oei Hong Leong loses $1b, takes Citigroup to court

By Lee Su Shyan, Assistant Money Editor

LOCAL businessman Oei Hong Leong - dubbed the 'man with the Midas touch' - lost a whopping $1 billion on foreign exchange and US Treasury bond transactions last year.

While he has fully paid off these losses, he is now suing Citigroup's private banking arm in the High Court for negligence and misrepresentation, legal documents seen by The Straits Times reveal.


Mr Oei claims that the bank - with which he has a 30-year relationship - repeatedly gave him an inaccurate picture of his trading exposure, causing him to take on more positions than he would have otherwise done so.

When he knew the full extent of his exposure, he felt he had no choice but to close his positions - at an extremely volatile time last October - thus suffering massive losses.

It is not clear how much of a beating Mr Oei's net worth has taken, but he was ranked Singapore's 29th richest man by Forbes last year with a net worth of only US$210 million (S$308 million). Forbes bases its listing on stakes in publicly traded companies and in private company filings.

Ironically, Mr Oei has become the latest high-profile victim of the financial crisis because he was trying to reduce his exposure.

In 2007, he believed that the global economy would experience a downturn and decided to trim his trading positions, his statement of claim says.

Meanwhile, he told his private bankers that he wanted to maintain a margin surplus of about US$100 million.

This is cash placed with a bank and clients can trade up to several times that amount. If the trades run up losses, this margin has to be topped up.

Following a change of relationship manager last year, Mr Oei dealt mainly with two assistants in the private banking department, whom he would call to check on the balance on a daily basis.

Having been told that he had a comfortable margin surplus, he entered into further forex contracts between Sept 16 and Oct 6 of last year.

These were deals involving various currencies, including sterling, US dollars, euros and Japanese yen.

Mr Oei says that by carrying out US$1 billion worth of trades in this period, he was 'earning Citibank substantial sums by way of revenues or other charges'.

However, around Oct 23, Mr Oei was told that his margin surplus had been transformed into a shortfall of US$100 million. He began to trim his positions.

But he was receiving conflicting reports. On Oct 27, he was told that this margin shortfall was about US$90 million, but, by the following day, it had ballooned to US$200 million.

On Oct 29, the shortfall had apparently shrunk to US$28 million, which bewildered Mr Oei because the market had not reversed far enough for the margin to change so dramatically.

Later on the same day, another report was sent to him, stating that the shortfall on Oct 27 was actually US$348 million.

Mr Oei alleges that there was a problem in Citibank's tracking and control systems and that his positions were not being accurately updated. This meant that he had no way of knowing which figures were correct and which were not.

He said he felt at the time 'that there was no prudent alternative, but that he must trade on the worst view of the figures and reduce his position'.

As a result, after closing out the positions, Mr Oei was left with a loss of US$518.3 million. Together with a further shortfall, he settled all outstanding amounts on the forex positions with Citibank by early November last year.

Other than those positions, he also suffered more losses from his transactions on US Treasury 30-year bonds than he would have done, had Citibank executed his orders, he claims.

Mr Oei has not quantified the amount of his claim. He is asking for the court to assess the damages.

When contacted, Mr Oei declined to comment about the court case.

But he disclosed that he had earmarked $1 billion last year to give to worthy charitable causes.

He added that the losses of about $1 billion which he has paid up in full, 'has of course set back my financial flexibility somewhat, but it has not dampened my ambition to set up the charitable fund and leave behind a good legacy.'

Yesterday, a Citi spokesman said: 'The matter is now before the courts. It is not appropriate for us to comment further. We believe that the claim is without merit and we fully intend to defend our position vigorously.'
Cheers!
Hendra
Like to share and give opinions.
However, please do your own homework!
You have been given the tools and the knowledge, try to fish yourself, so you will never be hungry again....
---
RTW (Ride The Wave) http://www.facebook.com/RTWLearningLab
Dennis Ng
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Post by Dennis Ng »

A Forex Trainer Sugiyantho Zhang just confirmed through his messages with me on facebook a few things:

1. he himself has NOT yet made even S$1 million from Forex Trading

Note: on the other hand, all of you know that I reached my First million in year 2008 from Investing into Stocks and Property after I learned from Real Multi-millionaires how to Invest.

2. he uses words like "Play stocks", "gamble" in his conversations....guess he does NOT understand that Investing is NOT gambling, maybe he is gambling since he uses such words.

3. he has NOT reached Millions from Forex Trading yet he believes so much in Forex Trading that he started teaching Forex Trading... :shock:

So next time you or your friends read Advertisements in newspapers promoting Forex Trading to become Rich, please remember all these FACTS I have unearthed.

http://www.facebook.com/DennisNgKW/post ... 7518252011

below are the last 2 messages between him and me:

Sugiyantho Zhang said: Yeah, May be I am different loh, Most of my students say i am a gamble or robot.. I have been trading since end of 2006. Till today 1 day no FX Chart I feel something missing. Thank you for sharing.. C U all

Dennis Ng said: Hi Sugiyantho, so you're gambling. Wish you good luck. Luck is NOT a strategy. You have NOT become Millionaire from Forex Trading yet you believe in it, and start to Teach others. I would NOT want to learn from you, becos if you have NOT climbed Mount Everest, What made you think you can guide others to the Top of Mount Everest. Reading your words, "play stocks" "gamble" I really worry for you. Wish you good Luck.


Cheers!

Dennis Ng
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng
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Post by Dennis Ng »

findleowong wrote:Recently, I have received a Forex newsletter from a local provider on using $3000 monthly, gain 6% on a monthly basis and within few years, you will be millionaire.

Meaning one year, the gain will be 72%.

If that the case, the person could outbeat George Soros and other high net worth hedge fund managers.
:roll:
This guy also beats Warren Buffett, who only made about 24.9% average Annual Returns. :roll:

I hope people have common sense to know that what this guy proclaims is TOO Good to be True. You can make 72% in a year, but one cannot Hope or Expect to make 72% per year, year in year out, despite different market conditions. Having such a thinking of expectation is trying to delude onself.

For instance, I made total of 300% returns from year 2002 to year 2007 (about 200% from stocks and about 100% from Property), or average simple returns of about 25.99%...but year 2008 I didn't make money, my overall portfolio was down in fact by over 10% (but I avoided most of the Market Carnage as I sold most of my stocks in year 2007)...

So if I proclaim I can make average annual returns of 25.99%, I'm just trying to bluff myself and you.

http://financespot.ehubsite.com/compoun ... -49-years/
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Post by Dennis Ng »

An average person in Singapore is possible to become Millionaire through investing. Dennis Ng shares his personal experience on TV:

http://www.youtube.com/watch?v=CzRn3NECo84


How the average can become Millionaire? How much do you earn?

Most people have wrong concepts about Personal Finance, that's why they are NOT Rich. To become Rich, you must learn correct concepts about Money and Personal Finance.

http://www.youtube.com/watch?v=KYUWyFr7 ... re=related
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Post by Dennis Ng »

NextInsight.net was one of the websites that issued Buy call for "China Hong Xing" before it got suspended. (NextInsight is set up by Leong Chan Teik (former Editor of Invest section of Sunday Times) set up in mid-2007 (what a Bad Timing, just before Stock Market Crash) together with Leong Chan Teik, a former Straits Times senior correspondent, and Kathy Zhang, founder and MD of Financial PR, (which helps companies list in Singapore, mainly China companies).

Chan Teik was a journalist for 18 years with The Straits Times, where he won several in-house awards for excellence. He also received the SIAS Financial Journalist of the Year 2002 accolade. (SIAS stands for Securities Investors Association of Singapore).

After his departure, Lorna Tan took over as Editor of Invest Section of Sunday Times from then till today.

I've been interviewed by Leong Chan Teik on several occasions and even met up with him to talk about investing. He appears to be a strict 100% Value Investor who does NOT believe in using Technical Analysis to help to decide when to Buy and Sell stocks. He's like Warren Buffett, prefers to buy and hold stocks forever...(actually Warren Buffett do sell stocks, despite what he said, for example, in year 2007, he sold all his holdings of PetroChina before China Stock Market crashed...so people might be just listening to Warren Buffett blindly without observing what he DOES (Action Speaks Louder than Words).

I personally think it is silly to buy and hold forever, which is akin to riding a Roller Coaster up and down, not knowing when to get down. (Sell).

I'm a Market Cycle Investor, preferring to hold a stock to ride the uptrend and sell High and get out to avoid Market Crash...then I repeat the process, after Market Crash, Buy Low and ride the next uptrend in Markets, that's how I made my first Million in year 2008.

NextInsight’s senior writer and photographer is Sim Kih, who was an investor relations consultant for several years after working in equity sales at OSK-DMG & Partners. She has cleared all her Chartered Financial Analyst (CFA) examinations.

Before that, Kathy Zhang of Financial PR set up WallStraits.com with Curtis Montgomery in year 1999.

Curtis uses a 8 step analysis process to analyse companies. In the end, many of the companies he analysed as Good Buys turned out differently and anyone investing in those companies would have lost alot of money, including stocks such as United Food and Sunray. Curtis disappeared from internet forum in year 2007 before WallStraits.com was discontinued...

Curtis wrote a few books, including "Sun Tzu On Investing". I even helped organised a few seminar for Curtis and exchanged knowledge and ideas with him, but in the end, I realised that what he uses to analyse may not make sense as he Project profits and cashflows for 10 years (similar to formulas calculating Intrinsic Value)....which resulting in him having overly Optimistic View of some stocks...

So even Authors of Stock Investing books might NOT get it Right themselves...he also does NOT consider Technical Analysis and the Presence of Invisible Hands, things which I learned from other Real Life Multi-milionaires which I found to work very well in Investing into Singapore Stock Market...and of course, the rest is history, I made my First Million in year 2008.

One of the books written by Curtis Montgomery:

http://www.amazon.com/Sun-Tzu-Investing ... 0470821078

Curtis' training is Life Sciences, which may have resulted in him thinking that Stock Investing is 100% Science. It is NOT, it is Part Science, Part Art...including need to analyse Human Psychology in Markets; Invisible Hands' Thoughts and Actions in the market...

I used to think Stock Investing is 100% Science as well, if it is, it is POSSIBLE to have a Specific Formula for Investing (eg. the 8 Business Screens devised by Curtis). If that is so SIMPLE and EASY, then everyone can just learn the Formula and make Millions in the Markets...

This is why I keep cautioning Seminar Graduates NOT to have this thinking that there is a Fixed Set of Formula for investing into Different stocks, there are NONE. I realised people who tend to think this way are those educated and trained in Science, Engineering and even Accountancy...(I always have to consciously remind myself NOT to think that Stock Investing is 100% Science)...

8 business screens of the WallStraits devised by Curtis Montgomery :

1. Consistent historical sales and earnings growth
2. Conservative Financing with total debt less than a single year's net earnings
3. Consistently high return-on-equity (ROE), > 15% each year
4. Intelligent Capital Allocation Decisions
5. Business is easy to understand, and Management is open and honest
6. 2x5y: Industry sector supports doubling of sales and earnings
7. Sustainable Competitive Addvantages are evident
8. Attractive Valuation based on Discounted Cash Flow projections
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
wemakebread
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Post by wemakebread »

Dennis Ng wrote: This is why I keep cautioning Seminar Graduates NOT to have this thinking that there is a Fixed Set of Formula for investing into Different stocks, there are NONE. I realised people who tend to think this way are those educated and trained in Science, Engineering and even Accountancy...(I always have to consciously remind myself NOT to think that Stock Investing is 100% Science)...
Personally, the more I learn, the more I appreciate that some things in life are not always BLACK or WHITE, but actually lies somewhere in between.

For those who are able to, combo of
1) Science & Art
2) Logic & Creativity
3) Fundamental & Technical Analysis
will give new insights.

In my opinion, such insights can help one avoid "bad" situations, because he is able to see from different perspectives.
The possible downside is information overload leading to indecision.

It can be both a strength AND a weakness.
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Post by Dennis Ng »

some people erroneously think that money earned from Stock/Forex/Option Trading is Passive Income.

Passive income means you don't have to do anything and money still comes in. For trading, you have to trade in order to make money.

For Investing, one earns Passive Income, becos I don't have to do anything to continue to earn from Dividends from Stocks or Rental Income from Property (work done by property agents).
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Post by Dennis Ng »

As some of you already know, in year 1998's Asian Financial Crisis, I lost half my wealth in the Stock Market.

If I could "turn back the clock", what would I do differently?

I would think it's wiser to learn about How to Invest before Risking my hard-earned savings. I had to lose half my Wealth to learn this Lesson. I hope you don't have to go through the same Painful experience as I had, why NOT just learn how to Invest since I'm willing to teach you and share with you what mistakes you can avoid?

Learning from your own experience is Painful and Expensive. The smarter way is to learn from other people's Experience and Mistakes. You don't have to Repeat my mistakes.

Cheers!

Dennis Ng
Dennis Ng wrote:I got started in investing in 1993 by just buying on "hot tips" and "rumours". I remembered my usual words to my remisers were:"What is a good stock to buy huh?"

I made money in 1993, thought that investing is as easy as doing the above. When the "big crash" in 1994 came....I not only paid back the market all the gains I made in 1993 but also lost 30% to 40% of my capital.

Only in around 1999 or so then I really started to learn about investing. I read lots of books, attended seminars, visited internet forums (shareinvestor.com then) and learn from anyone and everyone more knowledgeable and experienced than me.

As I learn more, I came across comments by different people and authors that seem to contradict one another. It actually confused me instead of enlightening.

If I were to be given a chance to do it all again, my advice is "invest in investment knowledge first" before investing your money. And start when you have little money. I was "lucky" that I didn't have a lot of money to lose in 1994 as I only started working in 1993.

I have seen people heading for retirement that lost $500,000 to millions of dollars making the very same mistakes I made, investing on rumours and hot tips. That's why I encourage people to start investing when they have little money as at least they have opportunity to have a comeback and not be totally wiped out by their "tuition fees".
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Post by Dennis Ng »

When Metro Holdings was 78 cents I already shared in seminar the attractiveness of investing into Metro Holdings as the NAV as S$1.56 (then) and buying the shares at 78 cents is paying 50 cents for S$1 worth of Assets (Good quality Shopping Malls in China).

I also showed the year 2007 chart when Metro was as high as S$1.10 and said that it will NOT surprise me if the share price move to S$1 or higher someday, as to when, I really don't know, since I cannot control the share price of Metro Holdings.

Investing is about taking Calculated Risks, it is about taking action when the Upside Potential is at least double the downside risk, so simple only, yet many people want Certainty, wants Guaranteed Returns from Stock Investing, which is just trying to delude yourself.

If you just invest based on my investment principles, it is very, very, very difficult to lose money in investing (I'm talking about Overall stock portfolio losing money). Just look through the stocks I have mentioned in the Seminar and check how many shares make money and how many lose money and this will be very clear for all to see.

Remember, Cold Stocks typically means Low Price. Hot Stocks typically means High Price. Simple way to make money in Investing is to Buy Low, Sell High, so let me ask you, which stock should you be buying? Hot Stock or Cold Stock?

However, it seems like few people have this "common sense" as they are ANXIOUS to make money, they want to get Rich quick, they look for "Hot Stock Tips", they prefer to buy/sell stocks on the Top 20 Volume List. It is very strange and baffling to me.

I'm really trying to teach you (all Seminar graduates) how to fish yourself, instead of giving you the fish, and I'm very happy that some of you already have learned how to fish yourself (you know who you are and I don't want to name anyone in case I miss naming others).

But for people who still looking to Get Rich Quick, please be clear that this is NOT what I teach. I reached Millionaire status in 15 years, not 5 years, starting with savings of S$50,000 and adding savings of about S$10,000 per year...

I took 15 years to reach S$1 million but reached S$2 million in less than 2 years, and as I have shown, at the rate of doubling my wealth every 5 years, I would have about S$32 million in 20 years' time when I reached age 62.

I'm sharing all these information NOT to boast to you, but hope this can Inspire and Encourage you.

ALL I can promise you is that I'm committed to help you, to guide you, to mentor you, to encourage, to give you a slap in the face to wake you up if it calls for it as well, to give you a kick out of the aeroplane if you are too scared to take action, to parachute after learning how...most importantly is everything I'll do for you or do to you is with the Pure Intention to help you.

Otherwise, why would I bother to visit this forum, to write all these stuff when I'm now holidaying with my family in Hard Rock Hotel, Sentosa (this weekend is the only weekend in School Holidays) that I do NOT have to conduct any seminars.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
lootster
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Post by lootster »

Enjoy your stay Dennis Sifu ! Thanks for your guidance all these while.
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Post by Dennis Ng »

lootster wrote:Enjoy your stay Dennis Sifu ! Thanks for your guidance all these while.
Hi lootster,
you're welcome.

yes, I'm definitely enjoying myself, I believe in Living in the Moment and "being Present", so I'm always 100% focused on the thing I'm doing (be it working, relaxing, having fun with my family) at that particular moment.

Time for me to sleep now, tomorrow still have 1 full-day of fun at Universal Studio (2nd visit).
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Post by Dennis Ng »

There comes certain moments in your life that totally changed you, that suddenly you finally know that you don't really live for yourself, nor your family, but you're just part of the world, the Universe...

This is how I feel. And Jet Li shared the moment that changed him totally, leading him to set up "the One Foundation" in year 2004, in this CNN Interview below...

http://www.youtube.com/watch?v=xYJm16MJ ... re=related

More info on One Foundation: http://en.wikipedia.org/wiki/One_Foundation

For me, the moment was when I reached my first million dollars in end 2008. I re-read what I wrote in a book which I write down all my dreams and aspirations...

and therein I saw that I wrote that:"I want to learn how to master my own finances, so that I can reach a Million Dollars and be financially free...and when I reached Financial Freedom, I will then teach the public how to master their finances and to reach their Financial Freedom...

At that point it suddenly dawned on me why did I have the "luck" to get to meet the "Multi-millionaire Sifus", to know them and to have the privilege to learn from them...perhaps they were sent by the "Universe" to teach me becos I promise the Universe that I am willing to teach after I learned myself...

At that moment, I suddenly feel that since I'm already financially free, that I no longer have to worry about my own finances and my family's finances, that it is time for me to do what I promised, to start to teach...tears then just flowed from my eyes, it was tears of joy, tears of gratitude, tears of a great sense of responsibility...

For the next few months, I was even busier than before I reached Financial Freedom, I used the next few months to come out the first Bilingual Book on Personal Finance entitled "Mastering Your Personal Finance"...

I re-started www.MasterYourFinance.com in April 2001, a website I set up in year 2001 with Andrew Ng (who did the IT aspect of the site) but then mothballed this website as the site was visited by few people and defeated our intention to use the site as a free resource to educate the public on Personal Finance...

I set the date for my seminar, simply entitled "How to Save and Accumulate One Million Dollars", basically to share/teach how I reached my first million dollars through changing my mindset to Wealth and Money; planning my Finances properly and growing my savings through Investing...

The first seminar was on 23 Mar 2009, we had overwhelming response, total of over 200 people registered for the seminar where the only way we "marketed" it was via a simple Email Invite to people who subscribe to www.HousingLoanSG.com newsletter, which include all my existing clients...

We had to run 2 sessions on 23 Mar and 30 Mar 2009 to cater to the over 200 people who registered...

And on the 30 Mar 2009, I asked my friend Ming Song to help me to film an impromptu Video Testimonials of the seminar graduates...here's the un-cut, unedited version of the video:

http://www.youtube.com/watch?v=mYNx6gHl2Dc

And the rest was history...

This is the edited version of the video:

http://www.youtube.com/watch?v=cm1sULeqiW4

On 30 Mar 2009, my friend a well established Publisher, Kok Hwa of Candid Creation Publishing, helped delivered to me the first 100 copies of the book "Mastering Your Personal Finance", fresh from the printing press to the seminar venue at SMU...

He helped to rush the book out just in time for the book to be officially launched at the World Book Fair on 31 Mar 2009 at the Suntec Convention Hall...

So unlike many seminar trainers/speakers out there who started conducting seminars as a Business, mine was started with the Main Objective to fulfill my promise to help teach the Public how to Master Your Finance and reach Your Financial Freedom.

Our target is to have 10,000 seminar graduates and to set up a S$100 Million Charitable Foundation to help bridge the Rich-Poor Divide, firstly in Singapore.

Next, we will do it for Asia and then finally, for the entire World.

This will probably be one of the few Charitable Foundations NOT set up by the very Rich people but by 10,000 Middle Class Income people who reached Financial Freedom, donating S$10,000 each.

This S$100 million Charitable Foundation serves to bridge the Rich-Poor Divide and to help to Lift/Elevate the Poor from Poverty
by mainly doing 2 things:
1. Empower and educate the Poor to learn to manage and plan their finances and how to start small businesses eg. selling things online or be self-employed.

2. Provide Micro-Financing of S$5,000 to S$10,000 to help them get started. Interest will be charged on the loans, but at preferential rates, available to them, where banks and financial institutions would NOT approve their loan becos of their low/lack of income.

3. Interest charged on the loans will be a source of Revenue for the Charitable Foundation, thereby this Charitable Foundation can be self-sustaining and does NOT need to raise funds again, unlike other Charities.

4. the 10,000 Founding Members of the Charitable Foundation will help make the Charitable Foundation accountable and transparent, and also be a source of Volunteers for the Charitable Foundation's works, therefore this Charitable Foundation will NOT face the problem of unable to find enough volunteers for its operations.

5. Once we fine-tune the system of this Charitable Foundation, we will provide this Workable System as a Template for other countries to do the same, (set up Charitable Foundations using the same fund raising and volunteers management template) throughout the whole world.
Last edited by Dennis Ng on Sun Jul 03, 2011 11:11 pm, edited 5 times in total.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng
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Post by Dennis Ng »

Nowadays, there are many seminars out there to teach you how to get rich through Forex Trading.

Personally, I do NOT know of any Rich person who become Rich from Forex Trading, but I've read of news about Rich people losing millions becos of Forex Trading.

Below is a couple who lost S$9 million in Forex Trading:



http://www.straitstimes.com/BreakingNew ... 05147.html

Straits Times Nov 19, 2010
UBS takes couple to court OVER 9 MILLION

By Gabriel Chen

SWISS bank UBS is the latest bank to make the headlines in a case involving disgruntled private banking clients who have lost money.

UBS Singapore is taking a couple - Mr Ng Kok Keong and his wife Yow Sin May - to court, on the grounds that they owe the bank about $9 million.

The couple have filed a counterclaim, saying that their money was lost as a result of the 'grossly negligent' behaviour of their relationship manager.

UBS said that Mr Ng and his wife used the bank's credit services extensively to engage in foreign exchange transactions.

The bank said that on or about Oct 2, 2008, there was a US$1.07 million (S$1.4 million) shortfall in the couple's account and it sent them a margin call letter, dated Oct 3.

When the couple 'failed, refused and/ or neglected to provide the additional collateral', UBS closed their foreign exchange positions.
Last edited by Dennis Ng on Tue Jul 19, 2011 1:07 pm, edited 1 time in total.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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