Frank Comments by Dennis Ng on various Topics

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Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Tue Jul 03, 2012 6:02 pm

candy_chia wrote:I think one should never be satisfied with the current state of job, be it engineering or others, one should always be prepared for the possibilities that one may be redundant to the company one day, just like what Dennis advocates, "what if I'm wrong, will I be financially ok?"

My husband used to belong this vulnerable job category, but have since moved on to become a trainer in productivity after attaining six stigma black belt. Furthermore, he took up Business Chinese which could provide opportunity to the vast China market.


actually there can be Job Security for those who are employed. And actually, there can be Business Security for those in business.

The Formula is simple: always ensure your Value Add (Perceived by the customer/boss) to be more than the Price you charge for business and the Salary you're paid (for employees). And a Good Guide is for Value Add to be at least double that of the Price/Salary.

eg. if you're paid S$5,000, you should provide value add of min S$10,000 to your company. Or if you charge S$1,000 for your product/service, the Perceived Value in your customers' eyes should be at least S$2,000.

So if you're Under-paid, Congratulations. You are very safe, even if you're retrenched, it should be easy to find another job that pay the same or more. If you're over-paid, be very, very, very worried and try to focus on increasing your Value Add so that you become Under-paid.
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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Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Tue Jul 03, 2012 10:39 pm

candy_chia wrote:Your wife is so fortunate! My hubby only says, ’I love you’ mentally to his computer game daily.

3 simple words, but that's what women love to hear more than anything.

Dennis Ng wrote:
AppleTalk wrote:他向她求婚時,只說了三個字:相信我
她為他生下第一個女兒的時候,他對她說:辛苦了
女兒出嫁那天,他摟著她的肩說:還有我
... 他到她病危的那天,重複的對她說:我在這
她要走的那一刻,他親吻她的額頭輕聲說:你等我

這一生、他沒有對他說過一次“我愛你”,但愛....從未離開過。


why not say? Why wait?

Almost everyday, I would say I love you to my wife and 2 children and I hug them almost everyday too. Other than actions, what's the harm of expressing in words?


I believe your husband love you alot too, just that he does not express it in words.

It's a cultural thing. Asians typically do not know how to express in words. I grew up in a family whereby no one say "I love you" to anyone, not even my mother to us, even though I know she loves us alot. I have never heard "I love you" these 3 words in my family throughout my growing up years. When I grow up, I tell myself that this is something I will "rectify" when I have a family myself.


No, actually I'm the fortunate one.

My wife takes care of my 2 businesses and also most of the household chores (we only have a part-time maid that comes by once a week) and she also takes care and help in the school work of my children, while since May 2009, I have Consciously Chosen (to sacrifice) 3 out of 4 weekends per month to conduct seminars, and thereby could not help her in anyway at all in those weekends...

She has been supporting me through Thick and Thin, Through Sickness and Health, Through Ups and Downs, and she has been my pillar of support over all these years. If I think back how come I can "pull through" the initial 7 lean years of striking out on my own from year 2000 to year 2007, her unwavering support is a very big factor.

So I'm the fortunate one, and everyday I thank the Universe for all the Love and Support that surround me, be it from my wife and children, from my parents-in-laws and my mother and siblings, from my Team members, from Yew Kin (the guy who helped make Wealth Directions turn from dream to reality), from ALL the Wealth Educators (seminar graduates who help me in weekly Path to Financial Freedom Workshops), from the many Seminar Graduates (the last we count is almost 2,900)...from the many people who I have the chance to meet and learn from...including the multi-millionaire sifus that shared with me selflessly...

Everyday when I wake up, I thank the Universe for another day to enjoy all these Love and Support and I ask myself what can I do to give back to the Universe, to the Society...I want to use the limited time everyday to help to reach out and educate as many people as possible to the extent that nowadays I try to cut down on meetings and even lunch, dinner or having coffee with people...as I must try to give as much and it can only be done through 1 to many and not 1 to 1 meeting, lunch, dinner, coffee...

Yes, indeed I'm the very, very, very lucky one instead.

I don't dare to say I love you to these many people in case they "get cultural shock" but truly, I learned in the last 6 months that we should extend our Love to all human beings and not just our family, we must love even all living and non-living things, including insects, plants, even things such as table, chairs...we should extend our Love, Care and Concern to all of the Universe, becos we are truly ONE with the Universe, there is no you, me, they or we. It is just ONE, Not Two. We are truly all connected.

I have now learned and understand this intellectually, but truly for me to Love many other people the same as I love my family, I still cannot do it at the moment...and of course, it would even take me more effort to love even all living and non-living things...

In the past if I see an ant in the cup, I will just wash the cup and in the process killed the ant...now sometimes I can stop myself, and try to put the cup away and hope that the ant can leave after some time, so its death can be avoided...
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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Re: Frank Comments by Dennis Ng on various Topics

Postby candy_chia » Thu Jul 05, 2012 11:07 am

Below are suggestions to be a Great Employee dispensed by Buddha as stated in the book, Being Buddha at work:

1) Get up and Start work BEFORE your boss.
You will be calm and collected as you start your day.

2) Stop work AFTER your boss does
Being willing to stay a little longer to tie up loose ends work or to help a coworker is a great way to show that you are willing to go the extra mile.

3) Take from your employer ONLY what is Given.
Taking what is not ours is really stealing.

4) Strive to do your work WELL.
Always focused on effort. Don't waste time scheming or daydreaming.

5) Uphold your employer's Name.
Speak well of your employer and represent them well in the community. It will come back to reward you in surprising ways.



Dennis Ng wrote:
candy_chia wrote:I think one should never be satisfied with the current state of job, be it engineering or others, one should always be prepared for the possibilities that one may be redundant to the company one day, just like what Dennis advocates, "what if I'm wrong, will I be financially ok?"

My husband used to belong this vulnerable job category, but have since moved on to become a trainer in productivity after attaining six stigma black belt. Furthermore, he took up Business Chinese which could provide opportunity to the vast China market.


actually there can be Job Security for those who are employed. And actually, there can be Business Security for those in business.

The Formula is simple: always ensure your Value Add (Perceived by the customer/boss) to be more than the Price you charge for business and the Salary you're paid (for employees). And a Good Guide is for Value Add to be at least double that of the Price/Salary.

eg. if you're paid S$5,000, you should provide value add of min S$10,000 to your company. Or if you charge S$1,000 for your product/service, the Perceived Value in your customers' eyes should be at least S$2,000.

So if you're Under-paid, Congratulations. You are very safe, even if you're retrenched, it should be easy to find another job that pay the same or more. If you're over-paid, be very, very, very worried and try to focus on increasing your Value Add so that you become Under-paid.
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Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Thu Jul 12, 2012 10:12 pm

7月12日2012 ETF 挂牌基金是什么?

http://www.youtube.com/watch?v=z27K6sKD ... e=youtu.be
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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Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Sat Jul 14, 2012 9:28 am

yes, Ms Tan.

I used to think that as an individual, what can I do? How can I change anything? I'm just an individual.

Then I learned from Master Cheng Yan, founder of Tzu Chi foundation who said:
1. do not underestimate what an individual can achieve. Many drops of water make an ocean. You just need someone to start gathering the water together and why wait? Why not be the one who do it?

2. She also said:"if something is Right, Just Do It." She said everything we say or do there are bound to be people who don't like us, who criticize us, or may express all kinds of opinion and comments about us. Why bother with others? We cannot control what others say or do, but we can control what we say or do. And if you see something is Right, something is worth doing, just do it.

And last but not least, I like to share this teaching by Jim Rohn (the sifu of Anthony Robbins) in this short video: 4 questions You Should Ask yourself:

http://www.youtube.com/watch?v=KAa9FagS ... re=related

Watch and re-watch this video by Jim Rohn and then answer the 4 questions yourself. I answered them and that's why I am now doing what I am doing.

Cheers!

Dennis Ng

Ms Tan wrote:Isn’t “flash mob” similar to what Dennis is doing in teaching Financial Freedom? Of-course this is not 100% identical, I just like to connect the dots with my own imagination, my way of seeing the world.

The way one person started the music and brings in random people together as a group to jointly play the music and grow the participation from the rest singing together is such an amazing and joyful event.

This is like Dennis started the financial education alone and orchestra to a team of Wealth Educators, Forumers & Seminar Graduates to spread the message out to others to be financially literate to achieve Financial Freedom.


Dennis Ng wrote:My dream and deepest hope is someday some of you can be much, much better than me, so that all of us can then reach out to educate even more people.


I don’t see how Dennis’ dream cannot come true. I can vision that many of us will be Millionaires or Multi-millionaires with Hearts, the S$100 Million Charitable Foundation to help bridge the Rich-Poor Divide will be established very soon. Cheers!
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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Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Mon Jul 16, 2012 8:48 am

Ponzi scheme basically uses another "investor" money to pay off an earlier investor. It is such an Old trick yet everyday in the world, new Ponzi schemes are started and many people still fall for it. Why? I think Greed blinds them, they suddenly become Naive and cannot think logically. That day a seminar graduate told me someone promised him 40% to 80% returns a year by investing money with him. I told him, if he can get more than 24% return a year, he is better than Warren Buffett and should become Richer than Warren Buffett and big banks such as JP Morgan, CITIBANK will queue up to employ him as their Super, Super Star Fund Manager.

No one can consistently generate returns of 40% to 80% a year. Look at Madoff, he promised 10% return a year and in the end, conned many people, including big institutions.

What is the Best way to protect yourself? It is to increase your Financial Knowledge. In my "How to Save and Accumulate One Million Dollars" seminar, I teach "how to avoid falling into scams" and as my seminar graduate, please revise your notes so that you will NOT be blinded by Greed and regret later...the Ending of such story is always the same, you have a Group of 'investors' losing alot of money and crying and complaining. Help yourself to avoid being one of them.

Cheers!

Dennis Ng

Is Global Finance a Ponzi Scheme? Ask a Russian Expert
By Leonid Bershidsky - Jun 6, 2012

What's the difference between today's global finance system and a Ponzi scheme? This is the question that a 56-year-old veteran Russian financial scammer has been asking his victims.

Chillingly, he almost has a point.

Sergei Mavrodi is one of the most infamous names in Russia's recent history. Back in February 1994, amid the turmoil of the country's transition to a market economy, the mathematician organized a Ponzi scheme called MMM. He offered returns of 100 percent a month and advertised aggressively on national television. Before the pyramid crashed in July 1994, it attracted as many as 10 million depositors, making it more popular than the voucher privatization program that was supposed to give regular Russians a chance to take a stake in formerly state-owned enterprises.

Mavrodi managed to avoid prison for nearly a decade, in part by getting elected as a parliamentary deputy and using the status to obtain immunity from prosecution. He ultimately served out a four-and-a-half-year sentence for fraud. While in prison, Mavrodi wrote books and movie scripts, one of which -- PyraMMMid -- was later made into a successful film.

Now he's back with an even more audacious endeavor: the honest scam. Last year, he announced the new project, MMM-2011, by stating boldly that it would be another Ponzi scheme. “Even if you strictly follow all instructions, you can still lose," he wrote on a website describing the project. "Your 'winnings' may be withheld without any explanation or reason whatsoever.” Depositors would be paid solely from funds invested by other depositors. There would be no attempt to generate income in any other way. This, he said, was perfectly all right, and no different than the way some of the largest institutions in global finance operated, from the Russian pension fund to the U.S. Federal Reserve.

"What is money?" he wrote. "Nothing! Nihil. A phantom. … It is backed by nothing at all and printed by the masters in any quantity, at will.”

Such a case might have been hard to make back in 1994, when Russians saw the U.S. dollar as an unassailable store of value. But in today's post-financial-crisis world, it's easy to see how Mavrodi's arguments could convince an uninitiated observer. The U.S. is paying back its bondholders with money freshly printed by the Fed. Greece is paying back investors with money the European Union has borrowed from other investors -- or maybe some of the same investors -- via its bailout funds. The developed world's central banks have printed the equivalent of trillions of dollars in new money to keep their financial systems and economies afloat.

Mavrodi's sales pitch worked. On May 31, MMM-2011 claimed 35 million participants throughout the world. The number may be wildly inflated, but there were certainly hundreds of thousands of people in Russia, Ukraine and other post-Soviet nations who invested with Mavrodi. Their money allowed him to buy outdoor advertisements (this time avoiding TV) and open up chains of “consulting offices.”

The operation employed a structure borrowed from multi-level marketing. Early investors recruited new ones. A member who brought ten people into the fold could become a foreman and take a small cut from each investment by his “clients.” The first adopters could end up running an army of 100,000 or even a million. They offered returns from 20 percent for a one-month deposit up to 60 percent monthly for a 12-month deposit.

This time around, the mathematician was careful to mitigate the risk that he would be accused of fraud, or of operating a financial business without a license. MMM-2011 was not a legal entity. Money was moved strictly between people's private bank accounts or electronic wallets. The network made extensive use of communication technology: Potential foremen were interviewed via Skype, and each member was required to use a Gmail account.

Authorities were nonplussed. “The law enforcement agencies have a very high sensitivity threshold,” Russia's financial ombudsman Pavel Medvedev told TVRain. “They worry when someone gets killed, not when fraud is being perpetrated.” Criminal proceedings were started against Mavrodi in Novosibirsk, where he was accused of “aiding illegal enterprise,” but no move was made to arrest the MMM mastermind, who communicated with his followers only by posting videos on his website.

In Ukraine, Prime Minister Nikolai Azarov promised that the government would “check on what grounds this company started operating” and warned citizens that “there is no such thing as a free lunch.” No decisive action was taken. Alexei Plotnikov, a parliamentary deputy from the ruling Regions Party, argued that action wasn't necessary: “There is a general rule that you should not stick fingers in an electrical outlet, but there will always be people who do that," he said. "It's the same with Ponzi schemes and other questionable operations. All the government should do is issue a warning.”

MMM-2011 halted payments on May 31. “Unfortunately, I have to admit that a panic has started within the System,” Mavrodi wrote, blaming the media for spreading malicious rumors. “This is a pyramid! If everyone rushes to withdraw the money, there is no way there will be enough money for everybody. In fact, it would be the same with any bank.”

Undaunted, Mavrodi launched a new pyramid, MMM-2012, saying that it would be used to prop up MMM-2011. “Don't worry, don't be nervous, we will fix everything, and you'll get paid in full,” Mavrodi wrote, adding immediately: “This is not a promise, just a feeling I have.”

Experts pointed out the difference between those who lost their money to the first MMM in 1994 and the members of Mavrodi's modernized social network. “There is a different motivation now,” psychologist Akop Narvazyan told Russia's Channel One. “This is a gamble: People hope they will be smarter, more cunning than others. This is no longer mere inexperience, it's adventure-seeking.” Yet when the pyramid collapsed, Internet forums quickly filled with desperate pleas. “Please help me withdraw my deposit of 3.8 million rubles ($112,000). Am willing to pay 30 percent. Can anyone help or is it all over?” read one post. “Guys, save me, I borrowed serious money from serious people and now my foreman won't answer!” read another. Some MMM-2011 depositors, like their predecessors in 1994, have borrowed against their apartments to invest and are now facing homelessness.

It may all be their fault. They had been warned repeatedly by various officials and by Mavrodi himself. It is, however, an interesting moral issue, if not a legal one, whether governments have any obligation to protect financial innocents from themselves. One also wonders whether the policy makers managing the world's financial system might be able to extract some lessons for themselves.


(Leonid Bershidsky, an editor and novelist, is Moscow and Kiev correspondent for World View. Opinions expressed are his own.)

To contact the writer of this column: bershidsky@gmail.com.

To contact the editor responsible for this column: Mark Whitehouse at mwhitehouse1@bloomberg.net.
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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Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Mon Jul 16, 2012 9:22 am

if seminar graduates can remember, in March 2012 I said that China suddenly came out to say they don't need 8% economic growth is becos they are worried they cannot grow by 8% and thus, saying that in advance so as to lessen the "impact on markets" when China shows economic growth of less than 8%...

Well, looks like i'm spot on. Last week, China announced economic growth rate of 7.6%, below 8% for the 2nd quarter of year 2012 ending Jun. And many analysts now call for a bottoming and China growth rate would improve in 2nd half of year 2012...actually I don't know what is their basis for saying that? China's problem is it has NOT built up a sufficient base of middle class yet (who can increase consumption, now local consumption only constitutes 30% of China's GDP). In the last 10 years or so, basically China bumped up its growth rate by becoming the "factory of the world" and also investing heavily into infrastructure...unfortunately, quite a big part of the money was actually diverted by local governments into "investment" into Real Estate projects through its various State Owned Investment Corporations...

Many of the local governments' revenue come mainly from Land Sales, and thus, this is why many of the local governments protest when China Premier Wen Jiao Bao says he wants to clamp down on the Property sector to bring prices lower to be affordable to the masses...

China cannot save the world. It has total 3 trillion dollars, but don't forget that Italy and Spain's total debts alone is 2 trillion dollars...so if Europe really goes into financial trouble, or U.S. (with government debt of US$15.8 trillion) also goes into Financial Trouble, try as it might, but it would be naive or trying to delude oneself if one think China can save the World.

The Global Financial Crisis is inevitable. Any measures to print money or to prop things up would only be "pain killers" and relieve the pain temporarily, the more they print money, and the later they postpone the Financial Crisis, the more Serious would the Financial Crisis be when it finally hits us.

But politicians even though they may be able to see what I see, will likely choose to continue to print money and to prop things up as their Main objective is to make sure that things are "ok" while they are still in office. They don't care what will happen after they stepped down from office, but nobody wants to go down in History to be the Politician that lead the country into the Worst Global Financial Crisis.

Inflation in China is now falling, some analysts view that as Good news, however, I view it negatively, becos the lower inflation rate is due to decreased Demand and Imports and is a sign of economic weakness, not strength. Inflation also moderate downwards becos U.S. which printed US$2.3 trillion in QE1 and QE2, have NOT been printing money since QE2 ended last year... while Europe printing 1 trillion Euros mainly went into the Europe's weak banks and thus little "hot money" flow out from Europe to other parts of the world to cause any inflation.

Of course you can have a different opinion. However, whatever opinion I express I always back up with information/facts and not just anyhow comment.


Wen Warns China’s Economic Recovery Yet to Show Momentum
By Bloomberg News - Jul 16, 2012 12:00 AM GMT+0800

China’s Premier Wen Jiabao warned the momentum for a recovery in economic growth isn’t yet in place and that “difficulties” may persist for a while, the official Xinhua News Agency reported.


Even so, the current pace of economic expansion is within the targeted range and government measures to stabilize growth are “bearing fruit,” the premier said during an inspection tour in southwest Sichuan province, according to a Chinese- language report from Xinhua yesterday. The article didn’t mention government policies toward the property market.
Infrastructure Spending to Aid China, Neumann Says

Wen’s comments follow data that showed Asia’s largest economy had the weakest expansion in three years as Europe’s fiscal crisis sapped exports and a crackdown on property speculation curbed domestic demand. At the same time, a recovery in home sales and a jump in investment signaled lower interest rates and banks’ reserve requirements may be starting to arrest the slowdown.

“It should be clearly understood that the momentum for a stable rebound in the economy has not yet been established,” Xinhua cited Wen as saying. “We need to comprehensively assess the situation and recognize the problems, difficulties and risks, in particular the downward pressure on the economy,” Wen said.

The government will step up policy fine-tuning in the second half to support growth, he said, reiterating comments he made during a visit to eastern Jiangsu province earlier this month.

Weakest Pace

China’s gross domestic product rose 7.6 percent in the second quarter from a year earlier, the statistics bureau said on July 13, the sixth straight slowdown. Industrial production increased at a more moderate pace in June while retail sales growth decelerated, the data showed.

Nomura Holdings Inc. cut its China growth forecasts after the data. The bank now estimates expansion of 8.2 percent this year rather than 8.4 percent, and a pace of 7.9 percent in 2013, down from an earlier prediction of 8.2 percent.

Wen in March set a 2012 growth goal of 7.5 percent, down from an 8 percent target in place since 2005.

Separately on July 13, the People’s Bank of China said weak global demand will hinder growth, with the world situation “extremely” complicated, according to the central bank’s 2012 financial-stability report.
Property Controls

The PBOC announced the second cut in interest rates in a month on July 5 and has reduced banks’ reserve requirement ratio three times starting in November.

During his visit to Jiangsu, Wen pledged to “unswervingly” sustain property controls and prevent a rebound in prices.
Yesterday’s report on the premier’s tour in Sichuan from July 13 to 15 didn’t contain any reference to the real- estate market or property prices.

At an economic forum in Chengdu on July 14 with officials from five central and western provinces, Wen said the “fundamentals for economic development remain sound” and that “many bright spots are emerging in the course of development,” according to Xinhua. “The drivers and potential for economic growth are still relatively large,” he said.

The “bumper harvest” over the summer has provided a solid foundation for stable economic growth, helping to stabilize prices, Wen said. The monthly deceleration in prices “gives the government more scope for macro-economic controls,” he said.

Inflation eased to 2.2 percent in June from a year earlier, the lowest rate in 29 months, while producer prices fell for the fourth month, government reports on July 9 showed.

China “must do everything possible” to expand jobs, paying particular attention to the employment of college graduates, Wen said, according to Xinhua.

The government will pay more attention to encouraging growth of private enterprises and provide financial and tax support, Wen said, although he pointed out that companies must also help themselves by innovating and upgrading their products.

To contact the reporter on this story: Bloomberg News in Beijing at lzheng32@bloomberg.net
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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Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Mon Jul 16, 2012 10:36 am

When Capitaland share price was S3.80, I hinted that it may drop below S$3!

If you increase Financial Knowledge, you can Reduce Losses and Increase Gains.

Cheers!

Dennis Ng

Dennis Ng wrote:Imagine if in Jan 2011 you read this posting of mine in "Discussion Specific Stocks" Discussion Thread (ONLY open to my Seminar Graduates)...

Let me ask you:

Would it have helped you avoid losing Money on Capitaland?
Would it have helped you avoid Buying Capitaland?

Capitaland dropped below S$3.80 and on 17 Jun 2011, closed at S$2.75, or down 27.6%...

Increasing Investment Knowledge can indeed help you to Increase Your Wealth and Avoid Losing Money. This is another Real Life Example.

Stop buying/selling stocks blindly, listening to Stock Tips and Rumours. Learn how to "fish" (Invest) from me and start making money and avoid losing more money.


What seminar am I conducting this weekend? It's "Secrets to Making Money in Stocks Seminar". I'm looking forward to teaching another full house audience "How to Fish" (Invest)...it's sheer joy and fulfillment to see students coming to my Seminar with Zero Knowledge in Stock Investing and graduating with their Eyes Opened and confident in knowing What Stocks to Invest, When to Buy and When to Sell Stocks.

http://www.youtube.com/watch?v=4JjLmWYskr0

Cheers!

Dennis Ng

Dennis Ng wrote:
27 Jan 2011:

Looking at Capitaland 2 years' price/volume chart, S$3.80 is the major Support price, once break below S$3.80....no strong support price detected above S$3....all below S$3....

Note: it does not necessary mean that the price will drop below S$3 though....just looking at Price/Volume historical charts...
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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Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Tue Jul 17, 2012 9:49 am

Hi all,

yes, Stephen Covey's "7 habits of Highly Effective People" have been a tremendous influence on my life, especially the first habit "Begin with the End in Mind"...and to me, it is about determining our mission or purpose in life (end) and then we try to do everything that would help us move closer to achieving our mission.

In year 2000, when I resigned from bank, in a Notebook I used to write down my dreams, goals and important lessons or thoughts...I ask myself what do I really want? What will I be doing after I am already a millionaire and need not work another day...I thought very long and hard about this and finally here's what I wrote:

I want to learn how to master my own finances to reach Financial Freedom SO THAT I can then teach others how to reach their Financial Freedom...


And my life has never been the same since I decided what is the "End" (destination) for me...I use it to guide what I do or do not do, and decision become quick and simple (plus the guideline of Upside must be double Downside and worst case scenario is something I can afford)...

So I like to thank Stephen Covey. He is a "sifu" I never met but he will always be in my heart.

At the end of the day, it is not how long our life is, but what we do while we are alive that really matters. He can truly rest in peace knowing that he has made a difference in many people's lives through his teachings.

Dennis Ng

hahabear wrote:Stephen Covey has left the world today at the age of 79 years old after getting into a bicycle accident. The author has given us with the award winning book "Seven habits of highly Effective People", which I believed, has been read and at least heard of by most forumers here. Extracted from Dr Stephen Covey's website is his personal biography. For more info, you may refer to this weblink.

https://www.stephencovey.com

About Stephen R. Covey
Personal Bio
Recognized as one of Time magazine's 25 most influential Americans, Stephen R. Covey has dedicated his life to demonstrating how every person can truly control their destiny with profound, yet straightforward guidance. As an internationally respected leadership authority, family expert, teacher, organizational consultant, and author, his advice has given insight to millions.

Some of Stephen R. Covey's milestones:
Over 20 million books sold (in 38 languages)
The 7 Habits of Highly Effective People was named the #1 Most Influential Business Book of the Twentieth Century
Authored four titles with sales exceeding one million copies each: First Things First , Principle-Centered Leadership, The 7 Habits of Highly Effective Families, and The 7 Habits of Highly Effective People
Latest book, The 8th Habit , has sold nearly 400,000 copies
International Man of Peace Award
National Fatherhood Award (father of 9, grandfather of 44)
Author of the best-selling nonfiction audio in history (The 7 Habits of Highly Effective People)
No. 1 best-selling hardcover book on family (The 7 Habits of Highly Effective Families)
MBA from Harvard, doctorate degree from Brigham Young University
Board of directors for the Points of Light Foundations
Co-founder and vice chairman of FranklinCovey, the leading global professional services firm with offices in 123 countries
International Entrepreneur of the Year Award
Awarded eight honorary doctorate degrees
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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Re: Frank Comments by Dennis Ng on various Topics

Postby r22875 » Tue Jul 17, 2012 6:55 pm

I am saddened by the great lost. He has thought me about personal and people successes. I practice some of the 7 habits more than the others. Will greatly miss his new publications.
http://www.bokunobiz.com
Sharpen the saw, continue learning after 50
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Re: Frank Comments by Dennis Ng on various Topics

Postby r22875 » Tue Jul 17, 2012 8:49 pm

On a lighter side of the 7-Habits. Someone shared this with me and I thought it is quite interesting. Remove it in case you do not find it suitable. To ensure that they are in proper order, Habit 7 should be Sharpen the saw. So, Habit 3 in the picture should actually be Habit 2, and the rest follows. Have fun.
http://www.bokunobiz.com
Sharpen the saw, continue learning after 50
r22875
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Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Tue Jul 17, 2012 9:52 pm

I will remove this.

Becos I have much respect for Stephen Covey and this is NOT an appropriate thing to do, to make fun of what he teaches on the day he passes on. Just put yourself in his shoes, if you were Stephen Covey, how would you feel if you see this?

Confucius says:"Do not do to others what you do not want done to yourself" Always ask this question before we do anything to anybody.

This is also known as "The Golden Rule" and it is One Rule that ALL religions espouse and agree with.

http://en.wikipedia.org/wiki/Golden_Rule

there is a Time to be Serious and Solemn and there is a Time for Fun and Laughter. Don't mix them up.

I hope what I teach is not only Financial Knowledge, but actually how can we be a better person, a more considerate person. This may be funny on any other day, but it is inappropriate TODAY.

Do the Right thing at the Right time.

r22875 wrote:On a lighter side of the 7-Habits. Someone shared this with me and I thought it is quite interesting. Remove it in case you do not find it suitable. To ensure that they are in proper order, Habit 7 should be Sharpen the saw. So, Habit 3 in the picture should actually be Habit 2, and the rest follows. Have fun.

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
Site Admin
 
Posts: 9781
Joined: Tue Nov 29, 2005 7:16 am
Location: Singapore

Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Wed Jul 18, 2012 3:20 pm

lop wrote:Bernanke Sees Range of Options for Additional Fed Easing
By Joshua Zumbrun and Craig Torres - Jul 17, 2012

Federal Reserve Chairman Ben S. Bernanke said policy makers are studying options for further easing that could be deployed in case economic growth remains too feeble to produce a lasting decline in unemployment.

Bernanke, responding to questions during testimony today to the Senate Banking Committee in Washington, said easing tools include further purchases of assets, such as mortgage-backed securities, reducing the interest rate that the Fed pays on reserves banks keep with the Fed, and altering its communications on the outlook for interest rates.


The FACT is Ben Bernanke has very few options left.

further purchae of assets) ie. QE3 How much can it be? U.S. total debt now US$15.9 trillion, only US$500 million before reaching newly increased Debt Limit of US$16.4 trillion. If QE1 and QE2 combined US$2.3 trillion failed to do the job, why would QE3 work?

reducing interest rates? How much more can they reduce?

altering communication, you mean the market is so foolish that Ben Bernanke can just NATO (No Action Talk Only) and the U.S. economy would recover?

I think it is just Wishful thinking. Guess Ben Bernanke still not willing to face the TRUTH yet, or he also hoping nobody can see the truth. The Truth is U.S. economy FAILED to recover despite PUMPING in US$2.3 trillion in QE1 and QE2 and despite Fed interest rates reduced from 5.25% to 0.25%...and unemployment still remains at 8.2% (average unemployment of U.S. in normal times is 5.8%)..Wake up Obama, Wake up Ben Bernanke...don't bluff yourselves and don't bluff the world anymore.

As Einstein said:"doing the same thing over and over again and expecting a different result is called INSANITY."
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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Posts: 9781
Joined: Tue Nov 29, 2005 7:16 am
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Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Fri Jul 20, 2012 1:20 pm

As I said, I do NOT want to only teach Financial Knowledge, I hope to impart values, principles to all seminar graduates as well, some appreciate it, others might think I digress.

I always share that actually, we don't have to chase after money, becos Money and Wealth is a natural consequence or "side effect" of doing the Right Things with the Right Attitude. Most people go through their life chasing after money and these people typically do NOT get much money...becos they do NOT understand this Fundamental Principle I just shared.

And why do we want more Wealth
? Becos Wealth formula is number of people we serve x Value Add we provide, thus, the richer we are, it is just a Result Record to show that we are CONTRIBUTING more to the society. Isn't the purpose of life is about trying to maximise our potential so that we can better serve the society and the Universe?

Then when we have more wealth, we can give more. We can donate more. And we should give back part of our wealth, same percentage or EVEN HIGHER as our wealth increases. Becos basically, we don't really need much for ourselves. How many clothes can I wear? How much food can I eat? Thus, many cannot understand why I continue to live in a HDB Flat, live life without a Maid, and still do not own a car and do NOT spend much on myself (other than these 2 years buying a few luxury watches (my wife has reminded me to stop buying, becos she asked me how many watches can I wear?). The most I spent on is actually on books and seminars. I have paid over S$150,000 attending seminars in the last 12 years and this is NOT expense but an Investment in myself to increase the development of my potential.

Thus, in short, I want to say that if you want to be successful and respected, then you MUST do the Right Things with the Right Attitude.

What is Empty Promise?

When a someone makes a promise and doesn't live up to it or doesn't fulfill it therefore its an empty promise


In short,if you promise you must deliver. If you cannot deliver, do not promise.

Many people think to repent, is to say you are sorry, and to ask for forgiveness. This definition is mostly wrong. What is the Real meaning of Repentence? It is to admit one's mistake and NEVER to repeat the SAME mistake again.

I always tell people, it is ok to make mistake becos to err once is human. However, I want to say that to err twice is inhuman. It is ok to give 2nd Chance, but NOT 3rd Chance.
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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Posts: 9781
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Re: Frank Comments by Dennis Ng on various Topics

Postby Dennis Ng » Tue Jul 24, 2012 12:35 pm

many people rely on Analysts' Research Reports recommendation to buy stocks. Do you know that they OFTEN get it wrong? And some might even recommend BUY shortly before the company goes into trouble. Oh my gosh, do they really know how to analyse?

What they analyse is based on what is taught in the school and might not pass the Real World Test, ie. what works in the real World. In my seminar, I only teach something after I'm VERY SURE it works in the Real World, theories such as "Intrinsic Value" that are good on paper and does NOT work in real world, I do NOT teach. I don't teach useless stuff, only Professors will like to teach theory, I only teach what works in the Real World.

As I said, you would have cut loss or avoided investing into China Hongxing Sports before it went into trouble, becos its financial statement showed a sudden jump and increase in Accounts Receiveables, which is taught as one of the Financial Warning Signal....the company shares were suspended from trading after previous financial statements have been issued for some time...(enough time to analyse and avoid/cut loss).


and can you believe it? China Hongxing won "Most Transparent Company" Awards by SIAS and Asiamoney?
http://www.chinahongxing.com.sg/Awards& ... ations.asp

Some of the awards, they garnered in year 2008:
Runner up in the 'Most Transparent Company in the Foreign Listings' category in the 9th annual Investors' Choice Awards 2008 by the Securities Investors Association of Singapore (SIAS

Garnered five award wins in Asiamoney's Corporate Governance Poll in 2008: Best Overall for Corporate Governance, Best for Disclosure and Transparency, Best for Responsibilities of Management and the Board of Directors, Best for Investor Relations and Best Investor Relations Officer in China

Cheers!

Dennis Ng

Dennis Ng wrote:31 Mar 2011

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

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.
Dennis Ng
Site Admin
 
Posts: 9781
Joined: Tue Nov 29, 2005 7:16 am
Location: Singapore

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