Alignment Quality

金融风暴不可怕,可怕的是心灵风暴; 景气不好不必惊慌,怕的是人心不安。 Translated in English, it reads: “The vicissitudes of the capital markets are insignificant compared to the disturbance of one’s soul; there is no need to panic amidst a lacklustre economy but of great concern if one’s mind and heart is not tranquil.” It may take many years of practice to achieve a state […]

Reacting vs Responding

A couple of months back, a friend and fellow investor asked if investors should rotate to hoard cash or remain invested/ buy more amidst these volatile conditions? The long answer to that is investors should consider to: Increase funds (new sources), Reduce stakes in relatively high valuations companies, Increase stakes in relatively low valuations companies […]

First Who then What

Applying the wisdom of First Who then What in investing is as such – In most investment thesis, investors tend to focus on what is the strategy to achieve growth, what are the businesses’ strengths and weaknesses, and what will management do with the cash flow generated from their business etc. These are critical questions […]

Slow Down Take a Breath

Recently, I was at an investors’ gathering where fund managers, investment analysts and full-time investors meet once every two months, and some peers shared with me how they wished they had took their time in deploying their funds when they first started as they would probably have performed better had they bought more during market […]

Volatility

In 2015, the Nikkei 225 dropped 13.8% from 20,563 points on 29 May to 17,725 points on 2 October, while the ASX 200 dropped 12.8% from 5,777 points on 29 May to 5,040 points on 4 September. In 2016, the Nikkei 225 index dropped 14.9% from 17,572 points on 22 April to 14,952 points on […]