Dare not see UMWOG for 1- 2 years out and see how PNB doing national duty in consolidation of the OG sector and a very good thing and will be duly rewarded. The kind of deals WB will love to be involved in.
Yet keep bullshitting about 5 years plans.
PNB together with Petronas cannot make you a lot of money on UMWOG? If so skeptical of the country...go buy Fixed Deposit la......what are you doing here?
Dare not see UMWOG for 1- 2 years out and see how PNB doing national duty in consolidation of the OG sector and a very good thing and will be duly rewarded. The kind of deals WB will love to be involved in. MAMMY...U ARE A CONMAN LOH....SOME MORE MAKE USE OF W.BUFFET GOOD NAME TO CON THE INNOCENT AND SIMPLE MINDED LOH !!
Yet keep bullshitting about 5 years plans. W.BUFFET WILL NEVER SUPPORT COMPANY LIKE UMWOG, WITH NO MARGIN OF SAFETY AND HEAVY DEBTS LOH....!! IF U DON BELIEVE...U ASK W.BUFFET DISCIPLE 3iii LOH...!!
PNB together with Petronas cannot make you a lot of money on UMWOG? If so skeptical of the country...go buy Fixed Deposit la......what are you doing here? EVEN IF THEY MAKE MONIES...THEY WILL NEVER SHARE WITH MAJORITY OF NON BUMI LOH....!! THEIR OBJECTIVE IS TO CON U LOH...!!
This is an excerpt from STOCK MARKET INVESTMENT In Malaysia And Singapore by Dr Neoh Soon Kean, the Benjamin Graham of Malaysia. Year of printing 1985
THE GREATER FOOL THEORY (Page 67 Last paragraph)
ONCE THEY START DUMPING IT WILL BE TOO LATE TO ESCAPE!!! SO SELL WHILE THE SELLING IS GOOD (Calvin comments)
This is a theory that is usually very popular during the immature phase of a stock market's development. More of the followers of this theory are not aware that the trading system which they believe in goes by this peculiar name. From the stock market's behaviour during the past three booms, we can say that many Malaysians/Singaporeans appear to be strong supporters of this theory. This theory was very popular in the US during the 1920s but since then, it has fallen out of favour even though pockets of true believers still appear from time to time.
In essence, believers of this theory hold that stock prices are not dependent on anything tangible but rather dependent on the continual appearance of more people who are willing to purchase the stocks at an even higher price {these people are the so-called 'greater fools'). Thus, it neither matters what price one buys a stock nor that the stock's price is ridiculously high by any normal standard of measurement. Thus the believers of this school of thought hold the view that whatever stock one buys can always be sold at a higher price because there will always be greater fools than themselves. Thus, it is fine to buy MUIB at $24.00 because there will be another person foolish (or brave) enough to pay $26.00 for it. Believers of the greater fool theory never for a minute think that the supply of fools will be exhausted and that they may be the final purchaser before the crash.
During every stock market boom, there are usually a large number of believers of the greater fool theory and some of them actually make a lot of money on the way up. Some of them get out in time by finding some greater fools to take over their hot potatoes in the nick of time but many find that they themselves end up as the greatest fools because there is no one else willing to bid up the price anymore. Needless to say, the Greater Fool Theory is a much discredited one among academics and most professionals. But it still finds many adherents. Why is this so? Everyone is having too much fun, (that is, making so much money) on the way up that they do not want to leave the market. George Goodman, writing under the pen name of 'Adam Smith' has this wonderful parable to explain how people are caught up in the web of the Greater Fool Theory and do not know when to get out.
We are all at a wonderful ball where champagne sparkles in every glass and soft laughter falls upon the summer air. We know, by the rules, that at some moment, terrorists will burst in through the terrace doors, killing many and scattering the survivors. Those who leave early will be saved, but the ball is so splendid that no one wants to leave while there is still time. Everyone wants to enjoy one more dance and sip one more glass of champagne. So everyone kept asking: "What time is it? What time is it?" We look around and find that all the clocks have no hands.
This may be a surrealist's way of describing the stock market but Goodman's parable has a great deal of truth in it. Of course, we know that in every speculative boom of the past, the 'terrorists' did come when most of the guests were still enjoying themselves at the ball. As 'Adam Smith' implies, nobody knows when a speculative boom will end but end it must for that is the rule. At every speculative boom, not many of the small speculators escaped with their gains made on the way up. Most of the smaller speculators known to me eventually lost all their gains and much more than what has been gained.
Some even lost a large part of their original capital. Thus on the next occassion when you happen to find yourselves at this type of a ball, try to leave early. The problem is that once one is caught up in the fun and games of the party, one is apt to lose touch with reality. Chances are that believers of the Greater Fool Theory will hang on to the bitter end, only to be slaughtered. It is better to miss a few dances or a few glasses of champagne than lose one's life.
In concluding this section, an anecdote about Bernarde Baruch, generally acknowledged to be the greatest stock traders of the 1920s is related. He was once asked how it was that he remained so rich while many of his contemporaries had declared bankrupt. This was his splendid answer: 'I always sold too early.'
Malaysian institutions with very good track records.
To be winner....one also has to develop a sense of judgement of character...without that, raider, you are just another headless chicken.
IF SO GOOD WHY SIME...SING A DIFFERENT TUNE LEH ?
THE ANSWER....IS THAT, THEY ARE NOT POSITION IN THE POSITION TO CON MANY AFTER SO MANY YEARS...SO THEY CHANGE RULE AND CHANGE SHAPE....HOPING TO GET INTO THE CONNING INITIATIVE AGAIN MAH...!!
SO NON BUMI PLS BE WARY LOH....!!
IF BUMI FUND DON CON & GET U...WHO ELSE THEY CAN GET LEH ??
No other way. If your objective is to be rich, really really rich. The best part is, it can be learnt, get yourself a good mentor...one who has a long track record , not a talk cock raider. And the risks well acceptable
Posted by cheoky > Feb 6, 2017 06:10 PM | Report Abuse
Ten people sailang based on your criterias, 1 become rich, 2 become negative rich to banker, other into oblivious. Or all ten becomes rich? Icon pls advice
to be equipped with the temperaments of a super investor
and the forecasting skill of a super forecaster. ...no mountain is too high.
and I wish to thank Ricky Yeoh for this book.
the best in the business.
Superforecasting - The Art and Science of Prediction by Philip Tetlock
A must read for every investor. Tetlock examines some of the best minds in predicting and their thinking process. You will learn some of the great tools like think probabilistically, outside view vs inside view, and be a fox, not a hedgehog.
Always read W Buffet....B Graham they always advocate getting rich the slowly and surely the sustainable way mah....!!
They never advocate sailang...like mammy mention loh....!! They believe in the power of compounding over time mah....!!
FOLLOW MAMMY ADVICE OF SAILANG IS BAD ADVICE !! IT IS JUST GAMBLING & PUSHING THE LUCK LOH....!!
IF U READ REMINISCENCE OF A STOCK MARKET OPERATOR.....THE HERO..KNOWN AS THE BOY PLUNGER....HE BECOME VERY RICH AND THEN BANKRUPT MANY TIME OVER HIS CAREER IN STOCK MARKET LOH....!!
AT THE END SAD STORY....HE COMMITTED SUICIDE LOH...!!
THE MORAL OF THE STORY....U DON NEED TO PUSH YOUR LUCK LIKE A GAMBLER OR LIKE THE HERO BOY PLUNGER LOH.....!!
USE THE POWER OF COMPOUNDING AND USE MARGIN OF SAFETY....U SURELY & SLOWLY WILL BECOME RICH LOH....!!
From the time WB used every last sen he has to buy a bankrupt textile company to his investments in Coca Cola and McDonald , to the Insurance companies and banks and recently the China BYD, to railroads, Goldman Sachs, oil refineries , Apple most recently....he has been willing to bet the fortune of his whole company.
WB talks a lot but first and foremost, WB is America's sailang King.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
stockraider
31,556 posts
Posted by stockraider > 2017-02-07 21:19 | Report Abuse
PAPERLANE,
CHINESE NEW YEAR AROUND....SO RAIDER TRY TO AVOID...ARGUING TOO MUCH LOH....!!
NO GOOD FOR FULL YEAR FUNG SHUI LOH....!!
THATS WHY LOW PROFILE EARLIER LOH....!!