As the Chinese saying goes "知己知彼，百战百胜". It means that in order to win you must recognize what are your edge over others - such as what do you know but others don't know, what skills do you possess which others don't have, what's your investing temperament, what tools / assets do you have and how adept are you in using them.
If you are always copying others' actions and could not think for yourself why you chose to do what they did, then you will never find your edge. You can't win by copying Warren Buffett, you can't win by copying Peter Lynch, Donald Trump, your favourite blogger or anyone else - because they each played a different ball game with their own edge.
When you have found your so-called edge or methodology to win, test it out repeatedly and fine-tune it to your maximal ability. If you find that what you have been doing is NOT helping you to achieve your goals, then stop, erase and start over. Don't wallow in the sunken costs.
Quoting Albert Einstein - "Insanity is doing something over and over again and expecting a different result."
You could start by finding your circle of competence in the market then slowly expand the circle by reading, practicing, having a mentor and keeping your own investing diary.
In the market, great fools sell to greater fools, great fools buy from greater fools... when you get richer, somebody else gets poorer. Find our edge to be the lesser fool and be our own master in the game we chose to be in.
Hi Uncle8888, Then you must be neither of them. Probably the Kungfu panda master somewhere in the mountains (you could choose to be like/ beat any of them).
My household expenses rocketed this few months as I was on shopping spree. It's not because of the upcoming GST hike nor the attraction of Year-end sale. Image source: Unsplash It's because of my mom and because our household appliances are throwing in the towel one after another. Considering that it's been almost 10 years since we moved into the BTO, these appliances have been used way past their warranty and already to money's worth. I was surprised that some of them can even last for so long. First is our Samsung washing machine which the Start button spoilt. I bought one of Midea brand from Shopee at a sale. The only dissatisfaction is that it does not have a wash timer, unlike the Samsung one. Since we always wash almost the same load of clothing and use the same mode of wash, we can remember the estimated completion time now after a few washes. Second is the ceiling fan. Our old Fanco ceiling fan wasn't good, it required servicing in about a year's time a
Banks are pumping up interest rates in the shortest time span ever. (I saw that CIMB is currently offering as high as 4.2% on its fixed deposit! A rise of 1-2% in interest from just a few months ago. Darn, I should have waited.) This interest hiking spree is attributed to FED's rate hike , which caused the treasury bills yield to be climbing for a while. Hot money (from past QEs) have been flowing out of risk assets (cryptos, equities, junk bonds etc) to the supposedly more secure assets (bank deposits and gov bonds). Note that periods of past FED rate hikes are in year 1999-2000, 2004-2006 and 2007-2008. Then we see rate cuts after these periods. Inflation and loans interest rates have been climbing too. Layoffs are starting, economy seemed to be slowing. We won't be surprised to see recession , perhaps from next year, if the FED rate hike and inflation continue at this pace. Gotta keep a watch out for recession trends like a rise in the unemployment rate and a decrease in GD
I am finally back again after a 3 months blog hiatus. Not crushed or lost in space. I have started lately on a regular 35-hr work week and on my rest days I was preoccupied with taking care of family, household chores, going out with friends, reading novels and basically chilling. No inspiring topic here, just some quick updates. Inflation Despite most impacted by the rise in food prices, in terms of household expenses inflation, my family managed to get by comfortably enough on tingkat and homecook food. My next highest personal expenditure, after transportation, is meal-out with friends. With my regular work hours, income level has improved with slight sacrifice in terms of energy level. So I figured it justifies having those $20-per-pax dinners occasionally. I am made poorer too by my favourite eat-out food that have gone up in price by 10% or more! Mcd FOF meal $5 --> $5.80, Stuff'd chicken burrito $7.30 -> $8.10, Subway value meal $5.90 -> $6.50. T.T Currently going
2022 was a year of which my life followed Murphy's Law - I have experienced crypto bank runs (CeFi bankruptcies ensued), portfolio plunge, Covid infection and calling the ambulance to the house. It's a really bad year, and I almost thought I am not done listing the Murphy's Law events. At least these are the major ones, and I don't want to bored people with more day-to-day shit that happened. Despite all these, I believe there's still some silver lining behind the gloomy clouds. Here are some reflections to share. Change is the only constant in life We all know that. If we cannot change the environment, change ourselves. There's Chinese saying "适者生存", adaptability is the most powerful skill of humankind. After changing what we can in the environment to make ourselves feel as comfortable as possible, we need to learn to live with the discomfort that cannot be changed or is hard to be changed. This means "accepting what is" by changing the w
What is Curve Finance? Before we dive into the tokenomic, I would recommend reading this article as a primer if you are not familiar yet with the Curve Protocol - Three minutes to take you to understand Curve Finance, the king of stablecoin trading platforms . (The article took me about 13 minutes to read instead of 3!) [I have purposely coloured the texts of various tokens such that it is easier to differentiate them as you read.] CRV is the native token of Curve Finance and distributed as reward for providing liquidity to the protocol. Now let's take a look at the brother protocol of Curve which serves a different purpose - Convex Finance. What is Convex Finance? It is a protocol that allows liquidity providers to earn trading fees and claim boosted CRV without locking up CRV themselves. Liquidity providers can receive boosted CRV and liquidity mining rewards (on Sushi) This means that one can stake their Curve LP token with ConvexFinance to get Convex LP tokens and then stake
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All. How?
ReplyDeleteHi Uncle8888,
DeleteThen you must be neither of them. Probably the Kungfu panda master somewhere in the mountains (you could choose to be like/ beat any of them).