Life is too complicated in Singapore.
It is complicated to figure out the bus services and the concession for senior citizens (as they differ between the operators). It is complicated to figure out the charges for taxis. It is complicated to figure out the entitlement to the workfare bonus.
We need to simplify the rules governing our daily life.
Wednesday, March 07, 2007
30 years of experience in 3 points
Someone asked me to summarise the key features of my 30 years of experience in developing the business of NTUC Income.
I like to cover them in 3 key points:
* Business strategy
* Entrepreneurial approach
* Efficient management
I adopt a business strategy that recognises the realities and strengths of NTUC Income. We are a cooperative society that aims to give better value to our policyholders. We act accordingly and communicate this distinctive feature to our policyholders. Over the years, we build a base of loyal customers.
I adopt an entrepreneurial approach. I act promptly and have a nimble behaviour. I learn and adapt from the results. By trying many times, I am able to find a better way. I am also able to learn how to do things better for the future.
I focus on efficient management - how to improve efficiency, reduce wastage, and keep the cost low. I learn how to make the best use of the available resources. I adopt technology to improve efficiency and reduce the cost. I find a way to reduce the cost of technology, and increase the cost savings.
Some top managers are detached from the business. They tend to manage on theory, rather than have a good feel of the business.
If we look at many large businesses, you will find that those businesses with a CEO that is in touch, tend to perform much better.
I like to cover them in 3 key points:
* Business strategy
* Entrepreneurial approach
* Efficient management
I adopt a business strategy that recognises the realities and strengths of NTUC Income. We are a cooperative society that aims to give better value to our policyholders. We act accordingly and communicate this distinctive feature to our policyholders. Over the years, we build a base of loyal customers.
I adopt an entrepreneurial approach. I act promptly and have a nimble behaviour. I learn and adapt from the results. By trying many times, I am able to find a better way. I am also able to learn how to do things better for the future.
I focus on efficient management - how to improve efficiency, reduce wastage, and keep the cost low. I learn how to make the best use of the available resources. I adopt technology to improve efficiency and reduce the cost. I find a way to reduce the cost of technology, and increase the cost savings.
Some top managers are detached from the business. They tend to manage on theory, rather than have a good feel of the business.
If we look at many large businesses, you will find that those businesses with a CEO that is in touch, tend to perform much better.
Monday, March 05, 2007
Sharp fall in the stockmarket
Why did the global stockmarkets fall so much, so fast?
The answer is simple. When the market falls, the buyers stay away. Some of the weak holders (on margins) are forced to liquidate. The hedge funds come in to sell in large quantities.
This result in a sharp and steep fall in the market. And it can continue for several days.
When will the market rebound?
When all the selling has been done. The buyers decide that it is time to re-enter the market and buy the stocks at cheap prices. You can expect a sharp rebound.
What is a good timing? I don't know. The professionals, who are in the market everyday, may be in a better position to get the market reading and make the right judgement. The small timers will always lose out.
The answer is simple. When the market falls, the buyers stay away. Some of the weak holders (on margins) are forced to liquidate. The hedge funds come in to sell in large quantities.
This result in a sharp and steep fall in the market. And it can continue for several days.
When will the market rebound?
When all the selling has been done. The buyers decide that it is time to re-enter the market and buy the stocks at cheap prices. You can expect a sharp rebound.
What is a good timing? I don't know. The professionals, who are in the market everyday, may be in a better position to get the market reading and make the right judgement. The small timers will always lose out.
The Best Financial Plan
Here is my view of the best financial plan, which is suitable for every person.
* Have adequate savings, representing 10 to 20% of your regular earnings
* Invest in a large, well diversified, low cost fund
* Choose a flexible plan that gives you the freedom to change, at minimal cost
* Buy low cost term insurance to provide protection against death and disability
Do not be locked into a high cost plan that locks you up for many years, so that the agent and the financial institution can make a lot of profit from you. Do not fall for the "guarantees" which ends up in denying you the freedom to change your mind.
* Have adequate savings, representing 10 to 20% of your regular earnings
* Invest in a large, well diversified, low cost fund
* Choose a flexible plan that gives you the freedom to change, at minimal cost
* Buy low cost term insurance to provide protection against death and disability
Do not be locked into a high cost plan that locks you up for many years, so that the agent and the financial institution can make a lot of profit from you. Do not fall for the "guarantees" which ends up in denying you the freedom to change your mind.
Two large families
My wife came from two large extended families. Her father had 6 brothers and sisters. Her mother had 10 brothers and sisters. Both families have many children and grandchildren.
At the wake of my wife's father (who passed away last week), I met many members of the extended families. I knew them many years ago, when I married my wife. 30 years have passed. We have all grown much older.
I get to know many of them more closely during the last few nights of the wake.
At the wake of my wife's father (who passed away last week), I met many members of the extended families. I knew them many years ago, when I married my wife. 30 years have passed. We have all grown much older.
I get to know many of them more closely during the last few nights of the wake.
Important Motivating Factors
Lee Kum Tatt has often been asked what made him do many of the things he did in life when it was not his duty nor career requirement and there was no remuneration or material reward. His standard answer has been that if we have gone through what he has been through we would probably not have done differently.
I encouraged Dr. Lee to share with us some of his personal experiences which made him what he is.
Lee Kum Tatt's blog
Tan Kin Lian
I encouraged Dr. Lee to share with us some of his personal experiences which made him what he is.
Lee Kum Tatt's blog
Tan Kin Lian
Keep track of my stocks with Business Times
I keep track of my stocks in the Business Times website, www.businesstimes.com.sg
I created a portfolio to show the stocks that I owned, the number of stocks held and the cost price.
I can view the portfolio at any time, and see the value of my holdings, compared to my cost. I can also view the performance of the stocks for the same day.
I can store my profile in the PC. This allows me to access the information without having to "log in".
Well done to Business Times!
The CDP (Central Depository) also has a similar service. However, I have some problem in remembering the account number and the password. I used it quite rarely.
I created a portfolio to show the stocks that I owned, the number of stocks held and the cost price.
I can view the portfolio at any time, and see the value of my holdings, compared to my cost. I can also view the performance of the stocks for the same day.
I can store my profile in the PC. This allows me to access the information without having to "log in".
Well done to Business Times!
The CDP (Central Depository) also has a similar service. However, I have some problem in remembering the account number and the password. I used it quite rarely.
My blog is read in Vietnam
My friend worked in Vietnam. He sent this message to me:
I enjoying reading your blog in Vietnam. This is the way to keep me updated and it is not too heavy. Cheers to you being promoted as grandfather.
I enjoying reading your blog in Vietnam. This is the way to keep me updated and it is not too heavy. Cheers to you being promoted as grandfather.
Successful aging
Someone sent to me an article about successful aging.
The authors (Rowe and Khan, 1998) said that successful aging is determined by individual lifestyle choices in diet, exercise, pursuit of mental challenges, self sufficiency and involvement with other people.
They define it as:
* ability to maintain a low rate of disease and disease related disability
* high mental and physical functions
* active engagement with life
Another author (Novak, 1985) define it as "a good old age ... comes about when, given a basic income, reasonable health, good self-esteem and a little energy, a person sets out to discover a meaningful life."
Another author (Wong, 1998) said, "Successful aging is about positive attitudes towards life and death, about the spiritual and existential quests, and about personal growth in wisdom and spirituality". Successful aging is 80% attitude and 20% everyting else.
My uncle Larry Koh, who passed away two weeks ago, displayed a positive attitude towards life. Although he had been in poor health for a few years, he "enjoyed life to the fullest" (his quote).
He engaged in activies that occupy his mind, and enjoyed interacting with other people. He made it a point to go out on the MRT train to visit places, in a wheelchair.
Here is my tip: If you like a mental challenge, try this puzzle at Logic9
The authors (Rowe and Khan, 1998) said that successful aging is determined by individual lifestyle choices in diet, exercise, pursuit of mental challenges, self sufficiency and involvement with other people.
They define it as:
* ability to maintain a low rate of disease and disease related disability
* high mental and physical functions
* active engagement with life
Another author (Novak, 1985) define it as "a good old age ... comes about when, given a basic income, reasonable health, good self-esteem and a little energy, a person sets out to discover a meaningful life."
Another author (Wong, 1998) said, "Successful aging is about positive attitudes towards life and death, about the spiritual and existential quests, and about personal growth in wisdom and spirituality". Successful aging is 80% attitude and 20% everyting else.
My uncle Larry Koh, who passed away two weeks ago, displayed a positive attitude towards life. Although he had been in poor health for a few years, he "enjoyed life to the fullest" (his quote).
He engaged in activies that occupy his mind, and enjoyed interacting with other people. He made it a point to go out on the MRT train to visit places, in a wheelchair.
Here is my tip: If you like a mental challenge, try this puzzle at Logic9
Find the right people
Every manager knows that it is important to attract the right people to join your business, and that people make the difference.
The challenge is:
* how to identify the right people?
* how to attract them (when they have other opportunities)?
* how to motivated them to stay with you and to perform well?
I adopt the following approach:
* be transparent: share the vision and strategies
* discuss how the new employee can contribute to the plan
* help the new employee to learn how his or her skills can be put to productive use
I recruit for attitude, and train for skill (the RATS formula). This allows the employee to perform best in my business (and not elsewhere). It will be a compelling reason for the employee to stay with me.
I am willing to change the specification of the job to fit the skill and preference of the employee, so long as the value of the contribution can justify the pay.
I find this approach to be more sustainable than recruiting talented people (who have other opportunities). I like to recruit some talented people, that they must be able to "fit" into my business.
The challenge is:
* how to identify the right people?
* how to attract them (when they have other opportunities)?
* how to motivated them to stay with you and to perform well?
I adopt the following approach:
* be transparent: share the vision and strategies
* discuss how the new employee can contribute to the plan
* help the new employee to learn how his or her skills can be put to productive use
I recruit for attitude, and train for skill (the RATS formula). This allows the employee to perform best in my business (and not elsewhere). It will be a compelling reason for the employee to stay with me.
I am willing to change the specification of the job to fit the skill and preference of the employee, so long as the value of the contribution can justify the pay.
I find this approach to be more sustainable than recruiting talented people (who have other opportunities). I like to recruit some talented people, that they must be able to "fit" into my business.
Sunday, March 04, 2007
Part time work for a home maker
Hello Mr Tan,
My wife is a home-maker because of circumstances. My almost 2-year-old son has a feeding problem (i.e. difficult to make him drink milk or ea solid foods). My wife decided to take personal care of him.
She increasingly feels being out of touch with the working world. I hope you have some part-time work for her to occupy her mind.
---------------------
My reply:
I hope that your wife is able to access the internet. Ask her to read my blog regularly. If there are part time work opportunities, I shall put them in my blog.
She can also e-mail to me, to give her views.
Perhaps, she can learn how to play Logic9 (Sudoku). She can buy them from the bookstore or any of NTUC Income branches. It is a great way to occupy her time and be mentally active.
My wife is a home-maker because of circumstances. My almost 2-year-old son has a feeding problem (i.e. difficult to make him drink milk or ea solid foods). My wife decided to take personal care of him.
She increasingly feels being out of touch with the working world. I hope you have some part-time work for her to occupy her mind.
---------------------
My reply:
I hope that your wife is able to access the internet. Ask her to read my blog regularly. If there are part time work opportunities, I shall put them in my blog.
She can also e-mail to me, to give her views.
Perhaps, she can learn how to play Logic9 (Sudoku). She can buy them from the bookstore or any of NTUC Income branches. It is a great way to occupy her time and be mentally active.
Is it time to invest in the stockmarket?
The stockmarket has corrected by about 5%.
Someone asked me, "Is it time to invest in the stockmarket?"
My view:
* better to wait for one or two more weeks
* there is the possibility that the correction may continue for another 5% to 10%
* I prefer to wait until the ST Index comes down closer to 2,700
All the best.
Someone asked me, "Is it time to invest in the stockmarket?"
My view:
* better to wait for one or two more weeks
* there is the possibility that the correction may continue for another 5% to 10%
* I prefer to wait until the ST Index comes down closer to 2,700
All the best.
Do not use your CPF to pay down your loan
Larry Haverkamp advised that it is better to take a loan at 3.5% interest, instead of using your CPF savings to pay down the loan.
Read about his reason in his blog, Blog
Read about his reason in his blog, Blog
Saturday, March 03, 2007
Learn to use our public transport system
Too many people rely on private cars and taxis to move around Singapore, because they are not familiar with the public transport system.
The solution? We have to educate the public on how to use the buses and trains.
After leaving NTUC Income, I have started to learn about the public transport. I find the service to be excellent.
My tip? You can paste on your ez-Link card, the bus services that serve your neighbourhood, and also the nearby interchanges.
If you have to take a bus from anywhere in Singapore, you can see the services listed at the bus stop. Look for a service that reaches your nearby interchange or pass our home. You can reach home easily with a direct bus or one change of bus.
The solution? We have to educate the public on how to use the buses and trains.
After leaving NTUC Income, I have started to learn about the public transport. I find the service to be excellent.
My tip? You can paste on your ez-Link card, the bus services that serve your neighbourhood, and also the nearby interchanges.
If you have to take a bus from anywhere in Singapore, you can see the services listed at the bus stop. Look for a service that reaches your nearby interchange or pass our home. You can reach home easily with a direct bus or one change of bus.
Heavy demand for taxis
In Today paper, several readers wrote about the difficulty in getting a taxi during the peak period. There is clearly a heavy demand for taxis that cannot be met, especially during the peak period.
One reader commented that we have proportionately more taxis in Singapore than in Hong Kong, relative to the population. The taxi service in Hong Kong is better.
Increasing the number of taxis does not help. It will depress the earnings of the taxi drivers.
The solution: Find a more efficient way to use our available taxis. I suspect that the current system is too complicated, and result in wasted resources and higher cost.
One reader commented that we have proportionately more taxis in Singapore than in Hong Kong, relative to the population. The taxi service in Hong Kong is better.
Increasing the number of taxis does not help. It will depress the earnings of the taxi drivers.
The solution: Find a more efficient way to use our available taxis. I suspect that the current system is too complicated, and result in wasted resources and higher cost.
Insurance agents faced a conflict of interest
Insurance agents face a conflict of interest.
They have the choice of selling an expensive product that pays a high commission, or a low cost product that pays a low commission. Which should they sell?
If the agent thinks about the commission that he can earn, he will naturally sell the expensive product. This means that the customer has to pay more for the product.
The insurance company has to design the product so that it looks much better than it really is. They train the agent to market the product.
In reality, the product does not really give much more valuable coverage for the customer. It is a way to make more commission for the agent, and more profit for the insurance company.
The same point can be said for many of the structured deposits and structured products that are being sold on the market today.
My advice: As a consumer, you have the choice to buy the simple products that offer the necessary coverage at a reasonable price.
Do not be taken in by a well trained agent who can mislead you into buying the frills that are not really necessary, but cost you a lot more.
NTUC Income has been offering simple products that give better value to the customer. You can approach an insurance adviser from NTUC Income or visit the business center in Bras Basah Road. It is a safe bet.
They have the choice of selling an expensive product that pays a high commission, or a low cost product that pays a low commission. Which should they sell?
If the agent thinks about the commission that he can earn, he will naturally sell the expensive product. This means that the customer has to pay more for the product.
The insurance company has to design the product so that it looks much better than it really is. They train the agent to market the product.
In reality, the product does not really give much more valuable coverage for the customer. It is a way to make more commission for the agent, and more profit for the insurance company.
The same point can be said for many of the structured deposits and structured products that are being sold on the market today.
My advice: As a consumer, you have the choice to buy the simple products that offer the necessary coverage at a reasonable price.
Do not be taken in by a well trained agent who can mislead you into buying the frills that are not really necessary, but cost you a lot more.
NTUC Income has been offering simple products that give better value to the customer. You can approach an insurance adviser from NTUC Income or visit the business center in Bras Basah Road. It is a safe bet.
No reply because of wrong e-mail address
Mr Tan,
It is not fair to bother you with this matter since you have left INCOME on 20-Feb. But I just want to share with you my experience with INCOME service.
I have sent out another query to INCOME on 26-Feb-2007, and guess what Mr Tan, they don't even bother reply my email or call me.
I don't know why no one of the recipient of the email try to take ownership of this matter and try to solve the problem. What would you do if you were me Mr Tan?
I really am admiring you on how you, as CEO, answered personal email from customer or non customer within your busy and tight schedule and, after you have left INCOME, still active helping people to save their hard earned money spending on buying unnecessary insurance product.
Thanks a lot for educating us in buying/investing in the right insurance product.
------------------------------------
My reply:
I will ask X to look into this matter again. I suspect that you did not get a reply earlier because you used a wrong "reply address", which may have caused the reply to be "lost".
It is not fair to bother you with this matter since you have left INCOME on 20-Feb. But I just want to share with you my experience with INCOME service.
I have sent out another query to INCOME on 26-Feb-2007, and guess what Mr Tan, they don't even bother reply my email or call me.
I don't know why no one of the recipient of the email try to take ownership of this matter and try to solve the problem. What would you do if you were me Mr Tan?
I really am admiring you on how you, as CEO, answered personal email from customer or non customer within your busy and tight schedule and, after you have left INCOME, still active helping people to save their hard earned money spending on buying unnecessary insurance product.
Thanks a lot for educating us in buying/investing in the right insurance product.
------------------------------------
My reply:
I will ask X to look into this matter again. I suspect that you did not get a reply earlier because you used a wrong "reply address", which may have caused the reply to be "lost".
Logic9 (Sudoku) is well received
At the wake of my father-in-law, I met many friends and relatives. I introduce Logic9 (Sudoku) to them.
All of them (young and old) were interested in the puzzle, especially the three tips that I gave to them on solving the difficult puzzles.
Most of them have seen the puzzle before, but they did not know how to solve them. They enjoyed the puzzles, after learning my tips.
I was surprised that many young people were not familiar with the puzzle, although it has appeared in Today paper and MyPaper for a few months. When I taught an elderly lady, she became so engrossed in the puzzle that she spent a few hours on it.
All of them (young and old) were interested in the puzzle, especially the three tips that I gave to them on solving the difficult puzzles.
Most of them have seen the puzzle before, but they did not know how to solve them. They enjoyed the puzzles, after learning my tips.
I was surprised that many young people were not familiar with the puzzle, although it has appeared in Today paper and MyPaper for a few months. When I taught an elderly lady, she became so engrossed in the puzzle that she spent a few hours on it.
Flying into Kuala Lumpur
When I fly into KLIA to visit Kuala Lumpur, I usually take the train. It cost MYR 35 (one way) and reaches KL within 30 mins.
Earlier this week, I had to visit Petaling Jaya (a residential town next to Kuala Lumpur). I bought a taxi voucher at the airport for MYR 58.
The taxi voucher is a good system. It ensures that the passenger is not hassled or over-charged by the taxi driver.
Earlier this week, I had to visit Petaling Jaya (a residential town next to Kuala Lumpur). I bought a taxi voucher at the airport for MYR 58.
The taxi voucher is a good system. It ensures that the passenger is not hassled or over-charged by the taxi driver.
Friday, March 02, 2007
No load investment fund
An overseas insurance company is seeking my advice on the setting up of a no-load investment fund.
This fund does not have any front-end load. All money are invested in full to buy units at their net asset value (or bid price).
The fund manager takes an annual fee of 1.5% to 2%. This is used to pay for the expenses of managing the investments and to pay the commission to the adviser.
The investor is happy to pay a higher annual fee, as it is taken from the annual return on the fund. For example, if the fund earns 8% and the annual fee is 1.5%, the investor earns a net of 6.5% (assuming an annual fee of 1.5%).
There is possibly a need for a "trailer fee". This is deducted from the proceeds, if the investor sells the funds during the initial 3 to 5 years. The trailer fee can be, say, 0.5% for each remaining year of the minimum period.
I believe that this type of fund is available in Singapore, although it is not well marketed.
This fund does not have any front-end load. All money are invested in full to buy units at their net asset value (or bid price).
The fund manager takes an annual fee of 1.5% to 2%. This is used to pay for the expenses of managing the investments and to pay the commission to the adviser.
The investor is happy to pay a higher annual fee, as it is taken from the annual return on the fund. For example, if the fund earns 8% and the annual fee is 1.5%, the investor earns a net of 6.5% (assuming an annual fee of 1.5%).
There is possibly a need for a "trailer fee". This is deducted from the proceeds, if the investor sells the funds during the initial 3 to 5 years. The trailer fee can be, say, 0.5% for each remaining year of the minimum period.
I believe that this type of fund is available in Singapore, although it is not well marketed.
My occupation?
I have to give a talk. The organiser ask how I am to be described?
I have the following options:
* Former CEO of NTUC Income
* Consultant
* Self-employed
* Blogger (just joking)
* Chairman & CEO of Tan Kin Lian & Associates
I have not decided how which description to use. I shall think more about it.
I have the following options:
* Former CEO of NTUC Income
* Consultant
* Self-employed
* Blogger (just joking)
* Chairman & CEO of Tan Kin Lian & Associates
I have not decided how which description to use. I shall think more about it.
Working from home
For the past week, I have been working from home. It is great.
I am able to keep in contact with external people by e-mail and telephone. If I have to discuss business, I send some brief details in an e-mail, and fix a time for a telephone discussion. (This is similar to arranging a physical meeting).
It is quite easy to discuss matters over the telephone. It is much more productive than a physical meeting.
I have some people working part time for me from their homes. I also keep in touch with them in the same way.
I try to keep the paper work to a minimum. Even paper work can be scanned and sent through an e-mail or fax.
I shall share more about my experience in this new working style.
I am able to keep in contact with external people by e-mail and telephone. If I have to discuss business, I send some brief details in an e-mail, and fix a time for a telephone discussion. (This is similar to arranging a physical meeting).
It is quite easy to discuss matters over the telephone. It is much more productive than a physical meeting.
I have some people working part time for me from their homes. I also keep in touch with them in the same way.
I try to keep the paper work to a minimum. Even paper work can be scanned and sent through an e-mail or fax.
I shall share more about my experience in this new working style.
Visitors to my blog
My blog receives an average of 440 visitors a day. I shall try to keep it interesting and relevant.
Thank you for visiting. Ask your friends to read my blog.
If I hit 1,000 visitors a day, I shall state my occupation as "blogger". (Just a joke).
Thank you for visiting. Ask your friends to read my blog.
If I hit 1,000 visitors a day, I shall state my occupation as "blogger". (Just a joke).
An unexpected death
My father-in-law passed away yesterday morning, from a heart attack. He was 74 years old. His early death was unexpected.
He had always been quite fit and in good shape. He had seen a specialist a few months earlier for a medical checkup. The seriousness of the condition was not detected.
Life is unpredictable.
He had always been quite fit and in good shape. He had seen a specialist a few months earlier for a medical checkup. The seriousness of the condition was not detected.
Life is unpredictable.
Thursday, March 01, 2007
Money market fund earned 3.44% annualised
The money market fund of NTUC Income was 1.046 per unit on 30 Nov. It increased to 1.055 at end Feb. The gain was 0.88% for 3 months. This is annualised to 3.44% for 1 year.
The money market fund is earning an attractive return.
The money market fund is earning an attractive return.
Lee Kum Tatt's Blog
I am managing a blog on behalf of Dr Lee Kum Tatt. He is a leading scientist, creator of the RISIS orchid, and a very interesting and philosophical person. He has many creative and innovative ideas.
I have encouraged Dr Lee to send his ideas to me for posting into this blog. You can view his blog using the link in the right column.
Blog
I have encouraged Dr Lee to send his ideas to me for posting into this blog. You can view his blog using the link in the right column.
Blog
Larry Haverkamp's Blog
Larry Haverkamp writes for The New Paper in the Dr Money column. I have persuaded Larry to send a summary of his articles for me to post into his blog (which is being managed by me).
You can visit his blog by clicking on the link in the right column. It contains educational articles on financial matters.
You can also see the Dr Money's website for other information.
Blog
You can visit his blog by clicking on the link in the right column. It contains educational articles on financial matters.
You can also see the Dr Money's website for other information.
Blog
Take public transport to Raffles City
Two days ago, I had to attend a meeting at Raffles City. I took the bus to the MRT station and then the train to Raffles City. The journey took 40 minutes.
It was hassle free. I do not have to drive in the busy road, and worry about parking.
We have an excellent public transport system. It is better to leave the car at home, or not own a car at all.
It was hassle free. I do not have to drive in the busy road, and worry about parking.
We have an excellent public transport system. It is better to leave the car at home, or not own a car at all.
Mayor of New York takes public transport
When I was in Kuala Lumpur, my friend told me that the mayor of New York takes the public transport every day to work. He gets to experience daily, how the service affests the ordinary people.
He wished that his government leaders also take the public transport. This will give them the motivation to improve the public transport system.
He wished that his government leaders also take the public transport. This will give them the motivation to improve the public transport system.
My personal portfolio dropped by 5%
I printed out a listing of my personal portfolio in Singapore shares on 24 Feburary.
I planned to reduce my holdings, as the stockmarket was too high. I missed the chance. When the market corrected, the drop was too fast, too sharp. This is the nature of the stockmarket.
My portfolio has since dropped by 5%.
I think that the Singapore market will correct further, so I shall have to think about reducing my holdings, even at the lower price today.
Just my personal view.
I planned to reduce my holdings, as the stockmarket was too high. I missed the chance. When the market corrected, the drop was too fast, too sharp. This is the nature of the stockmarket.
My portfolio has since dropped by 5%.
I think that the Singapore market will correct further, so I shall have to think about reducing my holdings, even at the lower price today.
Just my personal view.
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