The Bull Hunter

Hardcover: 240 pages
Publisher: Wiley (June 3, 2005)
Language: English
ISBN-10: 0471719838
ISBN-13: 978-0471719830
Product Dimensions: 9.1 x 6.2 x 1 inches

Denning's book focuses on getting returns not only from an uptrending market but also from a downtrending one. His definition of a bull hunter is basically an opportunist. It is a plethora of opportunities in today's world because of the introduction more sophisticated market instruments like options, ETFs etc. Denning also highlights the trend of the global economy and the gradual shift of wealth growing from the West to the East.

Fundamentally, wealth can only be generated by means of an increase of capital intensive investments like manufacturing and infrastructure. This forms the basis in powering the economy. Services, financials and IT all follows the growth of capital intensive development. When the latter exceeds the former i.e. financial activity far exceeds real economic activity, a bubble might be in development. This can be seen when capital(financial) markets capitalization exceeds GDP.

The decline of England to US and currently, US to China is due to several factors. The latter's factors currently being
1) Increase of consumption leading to increase of trade deficit
2) An aging population
3) Lesser tangible assets

The 4 threats US is facing is
1) depreciating dollar
2) housing issues
3) increasing debt and
4) obligations to aging population

Denning advises focus on infrastructure development in the emerging markets like China and India. This translates to an increase in demand for oil and gas and other resources like food commodities.

His case on China:
1) China is smart enough to let foreigners build the capital/infrastructure in the country
2) There is a demographic danger in a sense that migration from the rural to urban poses a huge challenge for the politicians.
3) He advocates buying Western companies doing business in China instead of US-listed china companies due to regulations and risks involved.
4) strong political risk with Taiwan

His case on India: (1 billion populations)
1) The economy is domestically driven; self-sustaining
2) Huge political risk with Pakistan
3) Needs foreign investment to grow like China
4) Movement from rural to urban can only be achieved by intensive investments in infrastructure and transport.

Thoughts for equity focus investors:
1) Commodity markets esp food
2) money migration from the West to the East
3) Global economy alignment due to a debt-burdened US dollar.

Strategies for tomorrow's market
1) Look towards emerging markets and using ETFs
2) Looking at the rule of 3 - telco, financial, energy resources
3) Dollar and foreign trade - look at companies where the sector is exporting and contributing to surplus' of the country. For US, this includes chemicals, aerospace, scientific instruments as they are difficult to replicate.

Benefits of ETFs
1) Diversification (in sector)
2) Focus (on growing markets)
3) Eliminate fund manager risk
4) All-day and strategic trading
5) Low cost - tax efficiency, low fees, no minimum investment
6) Transparent holdings

A pretty good book outlining the trends in the future.

Overcoming 7 Deadly Sins of Trading

Paperback
Publisher: Traders Press, Inc. (2004)
Language: English
ISBN-10: 0934380910
ISBN-13: 978-0934380911
Product Dimensions: 8.9 x 6 x 0.4 inches
Shipping Weight: 9.6 ounces

Roosevelt shares common traits or emotions traders undergo during the course of their trading activities. These common traits are as follows:

1. Fear (versus excitement, intuition or protectionism)
This feeling is a future-based emotion. It can be a fear to start trading or fear to stop loss. It makes a trader lose control and often paralyzes a person. An antidote is to recognise our desires and turn this emotion into a caution-based feeling. This is only possible if one is clear on the aims and strategies laid out beforehand.

2. Greed
This is spurred on more by opportunity cost than anything else. The perception of scarcity distorts the correct view that the market is always there. A solution is always to think of abundance and to exercise caution.

3. Recklessness (excitement seeking or anxiety)
A cure is to be confident and to have a plan. One ought to feel detached and think of the big picture.

4. Perfectionism
This has been ingrained into us since young as we seek for the ideals. We have to recognise that trading is about approximations and not to seek so much control as the market forces are outside us.

5. Pride
Over confidence can interfere with clarity of strategy. We need to be always cautious and learn how to cut loss.

6. Anger
This emotion affects everything else and our mood. We should use it to act on what we can control and do it reasonably. We must not be personal when it comes to trading.

7. Impatience
This is due to opportunity costs as well. We have to learn to wait and to practice timeliness.

Good trading patterns can only be achieved via strong personal character and virtues. This is done by having clarity, calmness, consistency, courage, cautiousness, commitment to excellence and confidence.

This book is excellent in identifying trading sins and dispositions. It helps one to associate one's trading patterns and our own fallacies. At the end of most chapters, there are sections on inventory-taking and on how to adjust. Also, it reveals supporting beliefs so we can learn to incorporate them into our character formation.

Automatic Wealth for Grads

Mainly the book tells us that wealth is dependent on what we want in life. Wealth is about how long your assets can last and not how much you have. This focuses on income minus expenses instead of real absolute amount of wealth.

Masterson advocates increasing income and savings for the reasons of compounding them. Compounding depends on time, amount of wealth and the ROI (rate of investment) A ROI of 18% is recommended. Always pay yourself first.

Ways to increase one's income:
1) Become an extraordinary employee
- Get in early
- Understand your responsibilities
- Focus on important things
- Never say NO
- Improve one's skills
- Communicate your progress
2) Be in a fast growing company
3) Be indispensible

He also gave some good career advice. Career choice is character dependent and we should do something that suits our personality and gives us fulfillment.

Some notes on certain sectors are:
1) Retail (difficult to be rich unless there is expansion)
2) Service (Increasing wage is met my increasing hours. A good entry level to learn trade)
3) Wholesale
4) Manufacturing
Important thing is to research on which industry is booming and how it suits one's character. Masterson advises that to be a top-earner, we have to focus on profit-generation instead of administrative or technical positions. We ought to learn how the company generates profits (1. Learn how your job contributes to this. 2. Make sure that the top knows how well you do so.) It is always almost necessary to develop one's sales skills (which can be applied in many areas) He also gave some good interview skills and suggestions.

Key points on Marketing
You have to know the difference between
1. Wants and needs
2. Features and benefits
3. Benefits and deeper benefits

Steps to develop one's own business
1. Take small steps
2. Develop expertise and niche
3. Find the right environment (especially motivational)
4. Learn whatever in one's current job first
5. Make sure the business benefits others

9 points to take note of in one's business
1. Make the first step
2. Lower price in a new market
3. It's all about selling
4. Business must be growable without personal involvement
5. Know your stop loss
6. Improve your strengths then eliminate your weaknesses
7. Focus and not diversify
8. Let winners run and cut losses
9. Follow Pareto's Law

Masterson shows that real estate is one of the better investment options (in America) and to reap benefits from the stock market, one must be:
1. Modest
2. Humble
3. Consistent
With this, he advocates Index Funds.

He wraps up his book by advising us to be cautiously optimistic always and finally, on how to enjoy life which was ultimate aim of us trying to accumulate wealth in the first place.

A pretty good book on a general overview on investment strategies. He gives some insightful views on career management and guides readers to decide what can be the best for each individual for any given career.

Rich Dad's Guide to Becoming Rich...Without Cutting Up Your Credit Cards review

Paperback: 88 pages

Publisher: Warner Business Books (December 2003)

Language: English

ISBN-10: 0446697524

ISBN-13: 978-0446697521

This book focuses more than financial literacy rather than the know-hows to be rich. Kiyosaki mentions that there are many ways one person can be rich. The key issue is the 'price of getting rich'. There can be a lot more sacrifices involved when one becomes rich by being stingy than being poor and enjoying life. The price of being rich is not measured in money terms but rather in time.

The book elaborates on the "prices" of the following:

1. Of being cheap
2. Of making a mistake – always see this as a stepping stone to learn
3. Of education – focus more on financial than academic education as "bankers ask not for report cards but financial statements". Of course, ignorance is worse.
4. Of change – "Change is the only constant in life" and we should use it to our advantage.

Kiyosaki, with focus on education mentioned that there are 2 sides of the coin in everything – Newton's Law e.g. to be a good policeman, one must learn to be a good crook. Understanding all facets are important to financial education. We cannot be "financial losers who cannot afford to lose".

Last but not least, not all debts are bad and we should make use of debts to our advantage.

Real Money Rea;l People 2

Author	Leong, Chan Teik.
Publisher	Singapore : Prentice Hall, c2002.
Physical Description	ix, 122 p. : ill. ; 23 cm.

Real People Real Money 2 brings together stories of successful men and women across different industries in the Singapore context. So if you want to be inspired or hope to garner some tips on how to be successful as an entrepreneur, self-employed business person or even an employee, do read this book.

The following are the people highlighted in this book (the ones in bold are the ones I am interested in) :

• Olivia Lum (Hyflux)
• Ho Leng Woon (AP Oil)
• Peter Tan (Fischer Tech)
• Lim Boon Chay (Paris, the Gourmet)
• Sally Low (Insurance agent)
• Sam Goi (Tee Yih Jia)
• Lin Jianwei (Raffles Town Club)
• James Lee (Real Estate agent)
• Natasha Kwan (Microsoft Singapore – head)
• Rix Chan (Great Eastern Life Insurance agent)
• Steve Ting (Frontline)
• Roland Low (Tat Seng Paper Containers)
• Dora Hoan (Best World Group)
• Lim Chung Chun (Fundsupermart)
• Winston Chiam (NTUC Income Insurance agent)
• Andrew Sin (Miyoshi Precision)
• Tony Kwong (Manufacturing Integration Technology)
• Chan Thye Yuan (Lantrovision)
• Kwek Siew Jin (ex Chief of Navy, Managing Director of SMRT etc)
• Ng Ser Miang (Managing Director of TIBS)
• David Tan (FanatiQ)
• Elsie Foh (President of Financial Planning Association)
• Edward Navarro (CEO of Prudential Assurance Singapore)
• David Beynon
• Edmond Villani (CEO of Zurich Scudder Investments)

All information are correct at the time of book publish.

Blink

Paperback: 320 pages
Publisher: Back Bay Books (April 3, 2007)
Language: English
ISBN-10: 0316010669
ISBN-13: 978-0316010665

Similar to his documentary style in Tipping Point, Gladwell discusses the power of the subconscious snap judgments.

Does having more information mean having more power? It doesn't seem so. His discussion concludes that information-overload can lead us to make worse decisions than making snap judgments. This is because we often absorb excessive and unnecessary information that confounds with the relevant ones that help us to make the correct decision. Pondering and over-analyzing can confuse us more often than not. The skill here is to know how to filter the information.

Experts in different fields come about from long term exposure to their subject matter. They filter information effectively and efficiently because they have 'trained' themselves to do so. Exposure develops expertise.

A common example most can relate too for the above 2 points: Driving. It would be almost impossible for anyone to take account of all these at anyone time when driving - action of the hand on the gear, sequence of checking the mirrors, which leg on the clutch and the accelerator, how deep to breathe, talking, steering the wheel etc. If we micromanage all these actions to the detail, information overload would make us really lousy drivers. But we drive 'instinctively' and filter all the little details, it would so much more natural and comfortable to drive.

Gladwell also talks about how we are primed to do certain things because our subconscious takes over. We easily change our minds in different contexts and we process information differently between the short run and the long term. Long term exposure develops unconscious associations and guides our future thinking and filtering processes.

The book is peppered with other interesting information. One I remember is that there should not be any contempt in marriages.

I conclude that after reading this book, there seems as though there is nothing I can change. I can't think faster, or think without thinking. But the awareness of such helps me to be more cautious of my decisions, and that snap decision-making can be very good as well.

Christ The Lord - Out of Egypt

Mass Market Paperback: 368 pages
Publisher: Fawcett; Reprint edition (October 31, 2006)
Language: English
ISBN-10: 0345436830
ISBN-13: 978-0345436832

This novel gives a perspective to a young Jesus. There were few references to how Jesus lived when he was a child; the gospels have a huge void in Jesus' life between the age of 8 to 33. Anne Rice tries to fill the void by telling a tale as close as possible to historical texts and references.

This book only covers a year of his age 7. It's very interesting how Rice paints a picture of the holy family and its extended members as well.

Rice gives a touching testimony on her faith journey while researching for this novel.

A good read for reflection.