Singapore Man of Leisure.+Add.Feed Info1000FOLLOWERS
Hi! I'm Jared Seah, a Singaporean currently on sabbatical from full-time work. It's play time! I aspire to be like the swan that's here and gone. And if need be, I'll rather be the hammer than the nail. Yes, it's from that song. 123, Away, I rather sail away
Often we hear youths with small means get all excited about 1 to 2% stuffs; and "free" trinkets like miles/cashbacks and such.
Understandable. I were young once. And definitely with puny pockets too!
Next time you visit the Bird Park, or any talent shows with an animal act, look out for the hands of the animal trainers. Each time their "pet" does what they were told to do, they will slip a "reward" to the animals mouths.
Now look up to see the strings others are pulling on you if you have been swinging from one credit card to another, hopping from bank A to bank B, and jumping from one discount app to another...
Those of you in sales or marketing you know what I'm talking about. Its our job as "animal trainers"!
As for those of you clueless what talking me, I'll suggest you talk to someone you trust that is also successful in sales or marketing. (Make a wild guess why I added the "successful" qualifier)
Someone who will tell you like it is. Not the politically correct bullshit spin about customer experience or satisfaction that sort of thing. Its all about market share, revenue growth, and promotions up the corporate ranks!
Long story short.
What's the common trait you find people who are decisive, determined, and strong-willed?
The ability to ignore the small stuffs and zero in on the salient (抓重点)?
I have a test.
What's the essence of an education?
Get it right, everything will fall into place. Wink.
Someone who is sitting on a 2 or 3 baggers feels different with a 10% correction than someone who has bought the recent high and is taking a 10% unrealised loss.
Someone who has taken back his capital and is only risking his "unrealised profits" in the market is not feeling the same stress as someone who is using 50% margin and risking 2 times his capital when a correction hits...
Someone who only has max 25% of his networth in equities is a lot more sanguine than someone who is 100% vested in equities.
Someone who bought shorter duration bonds like 1 year or 5 years government bonds is not suffering capital losses when interest rates rise, just as long he can hold the bonds till maturity. Those bei kambings who bought into bonds funds or ETFs will suffer capital losses...
Someone who got sugar daddy/mommy to bail them out when things go horribly wrong can sleep better at night.
For those into selling options to earn "passive" income, its a reminder this is what happens when you win 99% of the time, but you'll be wiped out when that 1% tail risk hits you when you least expect it!
No free lunch.
There was a time in 1999 when I thought to myself, "This is easy!"
And you know how markets humbled me subsequently.
That's why old fogeys who have survived more than 1 bull/bear cycle behave differently from youths who have only known a bull market.