batam trip.... this is yet another 1 trip there we are embarking soon. I cant wait to spend 72 hours with dee alone all by myself again...
The feeling is mutual, the way u make me FEEEL... my lonely days are Gone...
Tuesday, March 31, 2009
Were U there??
Ngee Ann Polytechnic was rumoured to have a girl student died in one of the engineering workshop because her hair got stucked in some machine and screams can be heard from the workshop at night.
Tampines Secondary School was said to be haunted by the spirit of a girl whom was raped by construction workers during its construction days in the 1980s.Hai Sing Secondary School had a mother Mary there whose statue will drip blood.
CHIJ Saint Josept Convent had rumours about why a cubicle is always locked. It was said that a girl was waiting for her parents to fetch her one day while she got raped and thereafter hanged herself in one of the toilet.
Pei Dao Secondary School was famous for the smacking and hitting noise at night in the basketball court. The music room was also rumoured to be haunted with a piano playing by itself every night at 12am sharp.
Pasir Ris Crest had an indian construction worker committed suicide in the toilet in its construction days. It was rumoured that the toilet was locked eversince after students complained about seeing a man stabbing himself repeatedly in the stomach.
Queenstown Secondary School was famous for the tomb stone that was found in the field by students.
Bedok View Secondary School had a toilet next to the bio lab on the ground floor haunted by a long haired ghost obsessed with combing her hair infront of the mirror. A few girls went into the toilet and ran out screaming and crying while it was rumoured the principal went inside the toilet to scold the ghost.
Yuying Secondary had its teachers and principals seeing silhouettes of children running around the school compound when worked late. It was said that when the school was doing its upgrading work, construction workers quitted one by one after witnessing strange occurrences.
Gan Eng Seng Secondary School had its 4th storey Ary Class haunted to the point of the teachers wouldn’t dare to enter the room alone. The rooftop of the building was rumoured to live a singing lady whose voice could be heard in an art classroom.
Singapore Polytechnics had T1,T2,T3…..but no T13. A student committed suicide at one of the teaching block’s toilet after stabbing the lecturer ( the lecturer died too). Screams can bea heard at night when part time students were having classes.
Haig Girls Secondary School used to be a place to hold POWs during WWII. There is an area within the school compound which has more than usual rate of accidents occuring. It seems many people would trip and fall while walking along the compound. Was rumoured that walking across the field diagonally cutting across field at night, you will be greeted by an old woman asking you to buy matchsticks from her.
Meiling Seconary School has a railway track behind its building. The school was moved to a temporary building they were building a new one. A broken hand was rumoured to be crawling somewhere in the technical lab from a student whose hand was saw off during lesson and bleed to death.
At the old school in Bukit Merah, the toilet on the 5th floor was locked because it was haunted by a girl who hanged herself in the toilet.Boonlay Secondary School had a pond in the middle of a science block with classes. It was said that if one look at the pond at night, there will be a strange face that will surface out of it.
Temasek Polytechnic was rumoured to have an indian worker binding wire inside a pillar but a colleague pour cement inside the pillar burying him in the process and they only found out when the whole building was almost completed. It was rumoured that the body is still inside the pillar which is believed to be somewhere in Block 18.ACS was rumoured to be haunted by a boy who jumped into the gears in the gear room of the clock tower. Students being possessed were common in the school.
In Temasek Polytechnic, Engine block corridors from Block 18 were so haunted that guards wouldn’t patrol that area. A famous story told by a guard was he saw a student at a locker as he was patrolling and as he make an U turn few minutes later, he found a piece of newspaper on the floor with that student’s face he just saw. Only problem is that student was killed by a sports car at the bus stop few months back.
Ngee Ann Polytechnic was rumoured to be built on burial ground. The slopes and hilly grounds is an indication of bunkers underneath.
Clementi Town Secondary School had its Home Econs and Science Lab haunted by a ghost whose head roll on the floor.
Tanjong Katong Secondary were said to be haunted at its studio. Band members staying the night were always disturbed while sleeping.
Tampines Secondary School was said to be haunted by the spirit of a girl whom was raped by construction workers during its construction days in the 1980s.Hai Sing Secondary School had a mother Mary there whose statue will drip blood.
CHIJ Saint Josept Convent had rumours about why a cubicle is always locked. It was said that a girl was waiting for her parents to fetch her one day while she got raped and thereafter hanged herself in one of the toilet.
Pei Dao Secondary School was famous for the smacking and hitting noise at night in the basketball court. The music room was also rumoured to be haunted with a piano playing by itself every night at 12am sharp.
Pasir Ris Crest had an indian construction worker committed suicide in the toilet in its construction days. It was rumoured that the toilet was locked eversince after students complained about seeing a man stabbing himself repeatedly in the stomach.
Queenstown Secondary School was famous for the tomb stone that was found in the field by students.
Bedok View Secondary School had a toilet next to the bio lab on the ground floor haunted by a long haired ghost obsessed with combing her hair infront of the mirror. A few girls went into the toilet and ran out screaming and crying while it was rumoured the principal went inside the toilet to scold the ghost.
Yuying Secondary had its teachers and principals seeing silhouettes of children running around the school compound when worked late. It was said that when the school was doing its upgrading work, construction workers quitted one by one after witnessing strange occurrences.
Gan Eng Seng Secondary School had its 4th storey Ary Class haunted to the point of the teachers wouldn’t dare to enter the room alone. The rooftop of the building was rumoured to live a singing lady whose voice could be heard in an art classroom.
Singapore Polytechnics had T1,T2,T3…..but no T13. A student committed suicide at one of the teaching block’s toilet after stabbing the lecturer ( the lecturer died too). Screams can bea heard at night when part time students were having classes.
Haig Girls Secondary School used to be a place to hold POWs during WWII. There is an area within the school compound which has more than usual rate of accidents occuring. It seems many people would trip and fall while walking along the compound. Was rumoured that walking across the field diagonally cutting across field at night, you will be greeted by an old woman asking you to buy matchsticks from her.
Meiling Seconary School has a railway track behind its building. The school was moved to a temporary building they were building a new one. A broken hand was rumoured to be crawling somewhere in the technical lab from a student whose hand was saw off during lesson and bleed to death.
At the old school in Bukit Merah, the toilet on the 5th floor was locked because it was haunted by a girl who hanged herself in the toilet.Boonlay Secondary School had a pond in the middle of a science block with classes. It was said that if one look at the pond at night, there will be a strange face that will surface out of it.
Temasek Polytechnic was rumoured to have an indian worker binding wire inside a pillar but a colleague pour cement inside the pillar burying him in the process and they only found out when the whole building was almost completed. It was rumoured that the body is still inside the pillar which is believed to be somewhere in Block 18.ACS was rumoured to be haunted by a boy who jumped into the gears in the gear room of the clock tower. Students being possessed were common in the school.
In Temasek Polytechnic, Engine block corridors from Block 18 were so haunted that guards wouldn’t patrol that area. A famous story told by a guard was he saw a student at a locker as he was patrolling and as he make an U turn few minutes later, he found a piece of newspaper on the floor with that student’s face he just saw. Only problem is that student was killed by a sports car at the bus stop few months back.
Ngee Ann Polytechnic was rumoured to be built on burial ground. The slopes and hilly grounds is an indication of bunkers underneath.
Clementi Town Secondary School had its Home Econs and Science Lab haunted by a ghost whose head roll on the floor.
Tanjong Katong Secondary were said to be haunted at its studio. Band members staying the night were always disturbed while sleeping.
Monday, March 30, 2009
Buck UP MAn!!!
well.. its been a month since i left ruwac....
Seconds ticking and i know wat desperation is...
Jia you.. now chances are back .. this week packed with interviews .. have to chase back lost time and make sure i stay long and even forever at this next job... damn focused and determined .. :)
Seconds ticking and i know wat desperation is...
Jia you.. now chances are back .. this week packed with interviews .. have to chase back lost time and make sure i stay long and even forever at this next job... damn focused and determined .. :)
Thursday, March 26, 2009
Indian genius
NOT A STORY BUT A TRUE INCIDENT
An Indian man walks into a bank in New York City and asks for the loan officer. He tells the loan officer that he is going to India on business for two weeks and needs to borrow $5,000. The bank officer tells him that the bank will need some form of security for the loan, so the Indian man hands over the keys and documents of new Ferrari parked on the street in front of the bank. He produces the title and everything checks out. The loan officer agrees to accept the car as collateral for the loan. The bank's president and its officers all enjoy a good laugh at the Indian for using a $250,000 Ferrari as collateral against a $5,000 loan. An employee of the bank then drives the Ferrari into the bank's underground garage and parks it there. Two weeks later, the Indian returns, repays the $5,000 and the interest, which comes to $15.41. The loan officer says, "Sir, we are very happy to have had your business, and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and found that you are a multi millionaire. What puzzles us is, why would you bother to borrow "$5,000" ?
The Indian replies:
"Where else in New York City can I park my car for two weeks for only $15.41 and expect it to be there when I return'"
Ah, the mind of the Indian... This is why India is shining
.
An Indian man walks into a bank in New York City and asks for the loan officer. He tells the loan officer that he is going to India on business for two weeks and needs to borrow $5,000. The bank officer tells him that the bank will need some form of security for the loan, so the Indian man hands over the keys and documents of new Ferrari parked on the street in front of the bank. He produces the title and everything checks out. The loan officer agrees to accept the car as collateral for the loan. The bank's president and its officers all enjoy a good laugh at the Indian for using a $250,000 Ferrari as collateral against a $5,000 loan. An employee of the bank then drives the Ferrari into the bank's underground garage and parks it there. Two weeks later, the Indian returns, repays the $5,000 and the interest, which comes to $15.41. The loan officer says, "Sir, we are very happy to have had your business, and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and found that you are a multi millionaire. What puzzles us is, why would you bother to borrow "$5,000" ?
The Indian replies:
"Where else in New York City can I park my car for two weeks for only $15.41 and expect it to be there when I return'"
Ah, the mind of the Indian... This is why India is shining
.
Wednesday, March 25, 2009
Guru Warren Buffet
2008 - Berkshire Hathaway Shareholders meeting at Omaha with Warren Buffet.I (not identified) had the good fortune to attend the 2008- Berkshire Hathaway Shareholders meeting at Omaha, Nebraska a few weeks back. It was a wonderful experience listening to and learning from the master investor - Warren Buffett himself and all I can say is that he stands alone as the reigning deity of financial world's Mt Olympus!
The degree of humility and composure he exhibited, although he is the richest and most well respected human is stunning! The questions the shareholders threw at him for 7 continuous hours ranged from finances, life, religion, career, politics, sports and several other streams. And he answered everything with a Zen-like calm and confidence. Even if you are least bothered about investments and finances, I insist, please read on.
What does it take to become a successful investor? Brilliance or Smartness?
Neither, Success in investing doesn't correlate with I.Q. Once you have ordinary intelligence, what you need is the temperament to control the urges that gets other people into trouble in investing.
When do you deicide to invest in a firm?
The best thing that happens to us is when a great company gets into temporary trouble. We want to buy them when they're on the operating table. (Mr. Buffett bought Coke when it had its biggest fiasco after launching New Coke; he bought Ameri! can Express when it went through a loss-making phase in the early 60's)
what do you look for in people when they come to sell their firms to you?
I don't look for the usual credentials such as an MBA, a pedigree (Harvard, Wharton), or cash reserves or market cap of their firm. What I look for is just a passion in their eyes; I think that's the key. A person who is hungry will always do well. I prefer it when people even after selling stay on and work for the firm; they are people who can't wait to get off their bed to get to work. Passion is everything; there is no replacement for innate interest.
Mr. Buffett, you told us that Berkshire Hathaway has $45 Billion in cash. Why aren't you investing?
Up until a few years back I had more ideas than money. Now I have more money than ideas. When do you plan to retire?
I love my job; I love it so much that I tap dance to work. Mrs. B, the founder of Nebraska Furniture Mark worked until she was 104, she died within 6 months of her retirement, that's a lesson to all my managers, don't retire! I personally am going to work 6-7 years after I die, probably that's what they mean when they say - "Thinking out of the Box"!!
Why do stock market crashes happen?
Because of human nature for greed and ! insecurit! y. The 1970s were unbelievable. The world wasn't going to end, but businesses were being given away. Human nature has not changed. People will always behave in a manic-depressive way over time. They will offer great values to you."
What are the things that are taught wrong in Business school and the corporate world?
I like such open ended questions. I think Business schools should refrain from teachingtheir wards about profit making and profit making alone, it gives a sense of one dimensional outlook to the young students that loss is a curse. In reality, in the corporate world, failure and loss making are inevitable. The capital market without loss is like Christianity without hell. I think they should teach the student on how to buy a business, how to value a business? Not just on how to determine the price of a business. Because price is what you pay, value is what you get.
Do you still hate Technology stocks?
With Coke I can come up with a very rational figure for the cash it will generate in the future. But with the top 10 Internet companies, how much cash will they produce over the next 25 years? If you say you don't know, then you don't know what it is worth and you are speculating, not investing. All I know is that I don't know, and if I don't know, I don't invest."
How to think about Investing?
The first investment primer was written by Aesop in 600 B.C. He said, 'A bird in the hand is worth two in the bush.' Aesop forgot to say when you get the two in the bush and what interest rates are; investing is simply figuring out your cash outlay (the bird in the hand) and comparing it to how many birds are in the bush and when you get them."
How do you feel after donating $40 Billion to the Bill and Melinda Gates foundation? You are a hero to us!
I feel nothing. I haven't sacrificed anything in life. I have had a good life. I donated after I turned 75. I think I admire those people who sacrifice their time, share their food and home, as the people to be emulated, not me. Besides, what is money before a man's life?
What do you think are the pitfalls in donation?
I have never donated a dime to churches or other such organizations; I need to believe in something before I end up doing that. I have been observing the Bill & Melinda Gates foundation for years now and I am confident they will do a fantastic job of making use of the money. I am a big believer in Outsourcing. Others believed in me as an Investor and gave their hard earned money to invest. I believe in Bill Gates, he is a better donor than me.
Why do you work from Omaha and not Wall Street, New York?
Wall Street is the only place where people alight from Rolls Royce to get advised by people who use the Public ! transport! ation system.
You seem to be so well read, tell us how it all started.
My father was a stock broker, so we had all these financial books in our library. He introduced me to those classics and I got into them. I am lucky that my father was not a fan of Playboy! Reading is the best habit you can get. Well, you can learn from teachers too, and have mentors but there are so many constraints attached - they will talk fast, talk slow, they might talk like a pro or they might be terrible communicators. Books are a different animal altogether, I love reading! The beauty about reading and learning is that the more you learn the more you want to learn.
People who join Berkshire Hathaway seldom leave. How do you get along well with all your executives?
I try to get quality people. I always say - Hire someone in your organization who is better than you are. If you do that, you build a company of giants. If you get people worse than yourself, you build a company of dwarfs. And do not try to do everything yourself. Delegate the jobs and look out of the window. The results will come. That's how you build institutions. It happens only when you empower others, believe in others. I am an investor, I am very secured at that, I have no clue how to make Coca-Cola or how to dole out credit cards (Mr. Buffett owns 8% of Coca-Cola and 13% of American Express). I understand the wisdom of the aphorism that you cannot please all the people all the time. Of cou! rse, you ! will always find qualities that you don't like in people around you, but if you observe carefully the love of the work unites you both. There is no point in being obsessive about a bad quality in a person, whom you otherwise respect. I am a small time businessman from Dallas, Texas, what do I need to do to hit big time? Be patient, Achieving your financial goals and dreams will not happen overnight. As much as we would all really love to accomplish our goals in a few years, this is an ongoing process. Defining your financial goals is not a one-time task; you need to keep adding new plans at different stages in your life. We all admire the skills of Olympic ice skaters, pro golfers, and concert pianists. But do we remember that they didn't acquire their skills overnight? They had to practice hours on end for years to achieve their dreams. The key to success is to continue learning throughout your life with a voracious appetite. I think it is marvelous that you have had a golden run with investing, how did you do that?
My rule is to be fearful when others are greedy, and be greedy when others are fearful. Besides, I call investing the greatest job in the world because you never have to swing. You stand at the plate; the pitcher throws you General Motors at 47! U.S. Steel at 39! And nobody calls a strike on you. There's no penalty except opportunity lost. All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it. Stay dispassionate and be patient. You're dealing with a lot of silly people in the marketplace; it's like a great big casino and everyone else is boozing. If you can stick with drinking Coke, you should be OK. First the crowd is boozy on optimism and buying every new issue in sight. The next moment it is boozy on pessimism, buying gold bars and predicting another Great Depression,! most peo! ple get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well. Mr. Buffett you have seen so many crashes and recessions, your take on facing recessions and stock market crashes?If past history was all there was to the game, the richest people would be librarians. Every scenario is different. But always remember, Tough times do not last. Tough people do.
What is the one biggest advice you would impart to a young investor like me?
Think for a moment that you are given a car and told this is the only car you would get for the rest of your life. Then you would make sure that your car is taken care of well, it isoiled and detailed every now and then. You would make sure that it never gets rusted, and you would garage it. Think of yourself as that car. You just get one body, one mind and one soul. Take care of it well. Invest in yourself - that would be my advice.
You personally know many of the Financial executives who are engineers of the current turmoil in the financial world, surprisingly even after record losses, those executives receive astronomical salaries and bonuses and arrogantly declare that they deserve it, why don't you advise them from making such decisions and what's your view on their justification for their pay?
I like sharing my ideas but don't like im! posing my! ideas on anybody. It doesn't make sense and is a waste of time. If somebody has decided that they know everything that is there to know, nobody can help them. The best way to learn and succeed is to know that we know nothing. There is an entire universe out there and still some of us think we can know everything. In the world of investing a few people after making some money tend to imagine they are invincible and great. This is the worst thing that could happen to any investor, because it surely means that the investor will end up taking unnecessary risks and end up losing everything. Arrogance, ego and overconfidence are very lethal. Personally I don't feel too comfortable with too much extravagance, because I always think like an investor. My thought process doesn't see a lot of value in a fancy car or a designer suit. Thinking like an investor always is very important to bring in a sense of discipline and focus. Before reading balance sheets and investing you need to make sure your outlook and mindset is that of an investor. Never let ego, arrogance and over-confidence control you - not just as an investor but also as human being. You will never have internal peace if you are unable to look at everybody around you with love, compassion and understanding. Irrespective of who the person is, he or she can teach you something you don't know. I have learnt so much from people all around me and I wouldn't have been able to learn all these wonderful things if I had not spoken to them with a smile.
To quote Sir Isaac Newton - If I have seen farther than others, it is because I have stood on the shoulders of giants.
It was a 7 hour conversation and I could just capture some of the best questions and answers. As 37,000+ dazed, amazed and grateful shareholders trooped out of the stadium after the meeting, I found myself recalling one of my favorite quotes - "A man has to learn that he cannot command things, but that he can command himself; that he cannot coerce the wills of others, but that he can mould and master his own will: and things serve him who serves truth; people seek guidance of him who is master of himself".
The degree of humility and composure he exhibited, although he is the richest and most well respected human is stunning! The questions the shareholders threw at him for 7 continuous hours ranged from finances, life, religion, career, politics, sports and several other streams. And he answered everything with a Zen-like calm and confidence. Even if you are least bothered about investments and finances, I insist, please read on.
What does it take to become a successful investor? Brilliance or Smartness?
Neither, Success in investing doesn't correlate with I.Q. Once you have ordinary intelligence, what you need is the temperament to control the urges that gets other people into trouble in investing.
When do you deicide to invest in a firm?
The best thing that happens to us is when a great company gets into temporary trouble. We want to buy them when they're on the operating table. (Mr. Buffett bought Coke when it had its biggest fiasco after launching New Coke; he bought Ameri! can Express when it went through a loss-making phase in the early 60's)
what do you look for in people when they come to sell their firms to you?
I don't look for the usual credentials such as an MBA, a pedigree (Harvard, Wharton), or cash reserves or market cap of their firm. What I look for is just a passion in their eyes; I think that's the key. A person who is hungry will always do well. I prefer it when people even after selling stay on and work for the firm; they are people who can't wait to get off their bed to get to work. Passion is everything; there is no replacement for innate interest.
Mr. Buffett, you told us that Berkshire Hathaway has $45 Billion in cash. Why aren't you investing?
Up until a few years back I had more ideas than money. Now I have more money than ideas. When do you plan to retire?
I love my job; I love it so much that I tap dance to work. Mrs. B, the founder of Nebraska Furniture Mark worked until she was 104, she died within 6 months of her retirement, that's a lesson to all my managers, don't retire! I personally am going to work 6-7 years after I die, probably that's what they mean when they say - "Thinking out of the Box"!!
Why do stock market crashes happen?
Because of human nature for greed and ! insecurit! y. The 1970s were unbelievable. The world wasn't going to end, but businesses were being given away. Human nature has not changed. People will always behave in a manic-depressive way over time. They will offer great values to you."
What are the things that are taught wrong in Business school and the corporate world?
I like such open ended questions. I think Business schools should refrain from teachingtheir wards about profit making and profit making alone, it gives a sense of one dimensional outlook to the young students that loss is a curse. In reality, in the corporate world, failure and loss making are inevitable. The capital market without loss is like Christianity without hell. I think they should teach the student on how to buy a business, how to value a business? Not just on how to determine the price of a business. Because price is what you pay, value is what you get.
Do you still hate Technology stocks?
With Coke I can come up with a very rational figure for the cash it will generate in the future. But with the top 10 Internet companies, how much cash will they produce over the next 25 years? If you say you don't know, then you don't know what it is worth and you are speculating, not investing. All I know is that I don't know, and if I don't know, I don't invest."
How to think about Investing?
The first investment primer was written by Aesop in 600 B.C. He said, 'A bird in the hand is worth two in the bush.' Aesop forgot to say when you get the two in the bush and what interest rates are; investing is simply figuring out your cash outlay (the bird in the hand) and comparing it to how many birds are in the bush and when you get them."
How do you feel after donating $40 Billion to the Bill and Melinda Gates foundation? You are a hero to us!
I feel nothing. I haven't sacrificed anything in life. I have had a good life. I donated after I turned 75. I think I admire those people who sacrifice their time, share their food and home, as the people to be emulated, not me. Besides, what is money before a man's life?
What do you think are the pitfalls in donation?
I have never donated a dime to churches or other such organizations; I need to believe in something before I end up doing that. I have been observing the Bill & Melinda Gates foundation for years now and I am confident they will do a fantastic job of making use of the money. I am a big believer in Outsourcing. Others believed in me as an Investor and gave their hard earned money to invest. I believe in Bill Gates, he is a better donor than me.
Why do you work from Omaha and not Wall Street, New York?
Wall Street is the only place where people alight from Rolls Royce to get advised by people who use the Public ! transport! ation system.
You seem to be so well read, tell us how it all started.
My father was a stock broker, so we had all these financial books in our library. He introduced me to those classics and I got into them. I am lucky that my father was not a fan of Playboy! Reading is the best habit you can get. Well, you can learn from teachers too, and have mentors but there are so many constraints attached - they will talk fast, talk slow, they might talk like a pro or they might be terrible communicators. Books are a different animal altogether, I love reading! The beauty about reading and learning is that the more you learn the more you want to learn.
People who join Berkshire Hathaway seldom leave. How do you get along well with all your executives?
I try to get quality people. I always say - Hire someone in your organization who is better than you are. If you do that, you build a company of giants. If you get people worse than yourself, you build a company of dwarfs. And do not try to do everything yourself. Delegate the jobs and look out of the window. The results will come. That's how you build institutions. It happens only when you empower others, believe in others. I am an investor, I am very secured at that, I have no clue how to make Coca-Cola or how to dole out credit cards (Mr. Buffett owns 8% of Coca-Cola and 13% of American Express). I understand the wisdom of the aphorism that you cannot please all the people all the time. Of cou! rse, you ! will always find qualities that you don't like in people around you, but if you observe carefully the love of the work unites you both. There is no point in being obsessive about a bad quality in a person, whom you otherwise respect. I am a small time businessman from Dallas, Texas, what do I need to do to hit big time? Be patient, Achieving your financial goals and dreams will not happen overnight. As much as we would all really love to accomplish our goals in a few years, this is an ongoing process. Defining your financial goals is not a one-time task; you need to keep adding new plans at different stages in your life. We all admire the skills of Olympic ice skaters, pro golfers, and concert pianists. But do we remember that they didn't acquire their skills overnight? They had to practice hours on end for years to achieve their dreams. The key to success is to continue learning throughout your life with a voracious appetite. I think it is marvelous that you have had a golden run with investing, how did you do that?
My rule is to be fearful when others are greedy, and be greedy when others are fearful. Besides, I call investing the greatest job in the world because you never have to swing. You stand at the plate; the pitcher throws you General Motors at 47! U.S. Steel at 39! And nobody calls a strike on you. There's no penalty except opportunity lost. All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it. Stay dispassionate and be patient. You're dealing with a lot of silly people in the marketplace; it's like a great big casino and everyone else is boozing. If you can stick with drinking Coke, you should be OK. First the crowd is boozy on optimism and buying every new issue in sight. The next moment it is boozy on pessimism, buying gold bars and predicting another Great Depression,! most peo! ple get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well. Mr. Buffett you have seen so many crashes and recessions, your take on facing recessions and stock market crashes?If past history was all there was to the game, the richest people would be librarians. Every scenario is different. But always remember, Tough times do not last. Tough people do.
What is the one biggest advice you would impart to a young investor like me?
Think for a moment that you are given a car and told this is the only car you would get for the rest of your life. Then you would make sure that your car is taken care of well, it isoiled and detailed every now and then. You would make sure that it never gets rusted, and you would garage it. Think of yourself as that car. You just get one body, one mind and one soul. Take care of it well. Invest in yourself - that would be my advice.
You personally know many of the Financial executives who are engineers of the current turmoil in the financial world, surprisingly even after record losses, those executives receive astronomical salaries and bonuses and arrogantly declare that they deserve it, why don't you advise them from making such decisions and what's your view on their justification for their pay?
I like sharing my ideas but don't like im! posing my! ideas on anybody. It doesn't make sense and is a waste of time. If somebody has decided that they know everything that is there to know, nobody can help them. The best way to learn and succeed is to know that we know nothing. There is an entire universe out there and still some of us think we can know everything. In the world of investing a few people after making some money tend to imagine they are invincible and great. This is the worst thing that could happen to any investor, because it surely means that the investor will end up taking unnecessary risks and end up losing everything. Arrogance, ego and overconfidence are very lethal. Personally I don't feel too comfortable with too much extravagance, because I always think like an investor. My thought process doesn't see a lot of value in a fancy car or a designer suit. Thinking like an investor always is very important to bring in a sense of discipline and focus. Before reading balance sheets and investing you need to make sure your outlook and mindset is that of an investor. Never let ego, arrogance and over-confidence control you - not just as an investor but also as human being. You will never have internal peace if you are unable to look at everybody around you with love, compassion and understanding. Irrespective of who the person is, he or she can teach you something you don't know. I have learnt so much from people all around me and I wouldn't have been able to learn all these wonderful things if I had not spoken to them with a smile.
To quote Sir Isaac Newton - If I have seen farther than others, it is because I have stood on the shoulders of giants.
It was a 7 hour conversation and I could just capture some of the best questions and answers. As 37,000+ dazed, amazed and grateful shareholders trooped out of the stadium after the meeting, I found myself recalling one of my favorite quotes - "A man has to learn that he cannot command things, but that he can command himself; that he cannot coerce the wills of others, but that he can mould and master his own will: and things serve him who serves truth; people seek guidance of him who is master of himself".
Monday, March 23, 2009
Take My Love..
Dear My Love,
Ever since we been togther, I have known that I will never let u leave me again. this feeling is the same since the first time.. i dun know how i can ever survive without u now.. U have gave me a meaning in life. Not a new 1... but the same one as before. that is to be with U forever.. I dun know how much u love me.. I dun know how much u care for me... I just feel U are my girl.. my partner this lifetime. u are MINE. U belog to me.. I keep saying house beacause I wan to keep u by my side, all of u locked by me.. protect u..shower u..look at u..cook for u..beside u.grow with u..touch u..kiss u...pamper u..adore u .. the things that : we share is magical .. our stories classical.. our love irreversible..feeling undeniable..thoughts shareable...Our destiny unmistakeable.... i want to: Suffer that is wat is to suffer with u enjoy that is wat is to enjoy with u ..treat all sufferings and enjoyment as facts of life..continue to love u , provide for u , give u ...endless timely LOVE..
Ever since we been togther, I have known that I will never let u leave me again. this feeling is the same since the first time.. i dun know how i can ever survive without u now.. U have gave me a meaning in life. Not a new 1... but the same one as before. that is to be with U forever.. I dun know how much u love me.. I dun know how much u care for me... I just feel U are my girl.. my partner this lifetime. u are MINE. U belog to me.. I keep saying house beacause I wan to keep u by my side, all of u locked by me.. protect u..shower u..look at u..cook for u..beside u.grow with u..touch u..kiss u...pamper u..adore u .. the things that : we share is magical .. our stories classical.. our love irreversible..feeling undeniable..thoughts shareable...Our destiny unmistakeable.... i want to: Suffer that is wat is to suffer with u enjoy that is wat is to enjoy with u ..treat all sufferings and enjoyment as facts of life..continue to love u , provide for u , give u ...endless timely LOVE..
Saturday, March 14, 2009
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