Books 03 (Dec 09 - Dec 25)

Re: Books 3 (Dec 09 - Jun 10)

Postby helios » Thu Apr 22, 2010 11:50 pm

Will be reading The Tipping Point on the airplane.
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Re: Books 3 (Dec 09 - Jun 10)

Postby winston » Fri Apr 23, 2010 7:29 am

I prefer to watch movies on the planes if I'm lucky to find a plane which has movies.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Books 3 (Dec 09 - Jun 10)

Postby kennynah » Fri Apr 23, 2010 2:06 pm

most planes have onboard/ondemand movies now.... you still travel on propeller planes or some small 清水湾镇空航? 8-)
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Re: Books 3 (Dec 09 - Jun 10)

Postby millionairemind » Wed May 05, 2010 1:23 pm

Wrapped up on a book called SECRET PSYCHOLOGY OF MILLIONAIRE TRADERS by local trader Conrad Alvin Lim.

Its quite a decent book written by a local author. I guess after reading so many trading books, the only thing new I learned from it was "get defensive, find a reason NOT to trade" so that you become objective about your trades instead of being emotional.

He co-wrote a book with Adam Khoo called Secrets of Millionaire Investors a couple of years ago. I tot that book was too basic and unfortunately amateurish hence I did not have high hopes for this book. Its that kind of book that you feel is written just to generate book sales.

The reason Y I said that was because a friend of mine bot that book and got so excited about investing/trading and subsequently lost a bundle in 2008. He has since swore off investing in the stock market. :roll: :roll:

The book is available from NLB and is only about 180pages long. You can probably finish it in an hour or so.
Last edited by millionairemind on Wed May 05, 2010 1:55 pm, edited 1 time in total.
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

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Re: Books 3 (Dec 09 - Jun 10)

Postby iam802 » Wed May 05, 2010 1:42 pm

I want to write a book with about 1000 pages titled "Untold Secrets of Top Traders Part 1"... and it will be followed by another book called "Untold Secrets of Top Traders Part 2".

Once you open the book, you will get "Untold Secrets" like...

Hidden Content:


Hidden Content:


Hidden Content:



Still don't get it?
Hidden Content:
Read the title of the book again.

:lol:
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Books 3 (Dec 09 - Jun 10)

Postby kennynah » Wed May 05, 2010 1:43 pm

:lol: :lol: :lol: :lol:
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Re: Books 3 (Dec 09 - Jun 10)

Postby millionairemind » Wed May 05, 2010 1:55 pm

Good one 802!!! :lol: :lol:
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

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Re: Books 3 (Dec 09 - Jun 10)

Postby LenaHuat » Wed May 05, 2010 2:06 pm

Hidden water runs deep, iam802 :D
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Re: Books 3 (Dec 09 - Jun 10)

Postby millionairemind » Sun May 09, 2010 7:02 pm

Finished up on a book called CLASS MATTERS by Correspondents of the NYT. Its a collection of articles by a team of NYT reporters.

A team of reporters spent more than a year exploring ways that class - defined as a combination of income, education, wealth and occupation - influences destiny in a society that likes to think of itself as a land of unbounded opportunity.

Reading this book brings out quite a few disturbing trends and I can see the parallels in Singapore. From the self contained enclaves of the rich to the upwardly mobile professionals who live in secluded condos to our policy makers who have never spent a single day in their lives being poor, makes a $1MM salary and yet think they understand how an operator earning 1.5K/month struggles to feed his 3 kids and take care of his aging parents.

What I found lacking in this book is that they have covered blacks, whites and Latinos but there isn't a single mention of Asians in their articles. They fail to profile the impact of a GOOD education on raising people above poverty and there are examples aplenty of 2nd generation Asians who are high achievers in the US even though their parents barely spoke a word of English when they landed.

The acclaimed New York Times series on social class in America—and its implications for the way we live our lives

We Americans have long thought of ourselves as unburdened by class distinctions. We have no hereditary aristocracy or landed gentry, and even the poorest among us feel that they can become rich through education, hard work, or sheer gumption. And yet social class remains a powerful force in American life.

In Class Matters, a team of New York Times reporters explores the ways in which class—defined as a combination of income, education, wealth, and occupation—influences destiny in a society that likes to think of itself as a land of opportunity. We meet individuals in Kentucky and Chicago who have used education to lift themselves out of poverty and others in Virginia and Washington whose lack of education holds them back. We meet an upper-middle-class family in Georgia who moves to a different town every few years, and the newly rich in Nantucket whose mega-mansions have driven out the longstanding residents. And we see how class disparities manifest themselves at the doctor’s office and at the marriage altar.

For anyone concerned about the future of the American dream, Class Matters is truly essential reading.

“Class Matters is a beautifully reported, deeply disturbing, portrait of a society bent out of shape by harsh inequalities. Read it and see how you fit into the problem or—better yet—the solution!”


Here is the collection of the articles if you are keen, though the book is available from your local library.

http://www.nytimes.com/indexes/2005/05/ ... nal/class/

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Re: Books 3 (Dec 09 - Jun 10)

Postby millionairemind » Sun May 23, 2010 11:46 am

Wrapped up on 2 books this week. The New Asian Hemisphere: The Irresistible Shift of Global Power to the East by Kishore Mahbubani, who is now dean of the Lee Kuan Yew School of Public Policy at the National University of Singapore and The Well Behaved Child by Rosemond.

Below is a review of The New Asian Hemisphere in The Economist. It is probably the most hard hitting book against America by a former Singapore diplomat. While I cannot fault his arguments, I think he is too biased in his writing. China and India have their own sets of pressing problems they need to over come in the next 20-30yrs before they can truly lead the world. To ignore these and see them thro' rose tinted glasses (8% growth till 2050) is downright wrong and dangerous.

Hidden Content:
The future of Asia
Eastern approaches
Kishore Mahbubani makes some sensible recommendations on how Asia's growing power might be managed. But his other arguments are far less convincing
Illustration by Daniel Pudles
Feb 7th 2008 | From The Economist print edition

WHEN you have spent your long diplomatic career listening to lectures by arrogant Americans and Europeans about how others should run their countries and that the West is best, it must be tempting to try to get your own back. That is what Kishore Mahbubani, who in the 1980s and 1990s was Singapore's and probably Asia's best-known diplomat, is doing in his new book, “The New Asian Hemisphere”.

Mr Mahbubani is now dean of the Lee Kuan Yew School of Public Policy at the National University of Singapore, and prefers the title of professor to ambassador, but this is no dry scholarly tome. It is an anti-Western polemic, designed to wake up Americans and Europeans by making them angry. In that goal, it will certainly be successful.

Interestingly, the author ascribes the success of Asian economies to their adoption of “seven pillars of Western wisdom”, so he does give some credit to the West. These are free-market economics; science and technology; meritocracy; pragmatism; a culture of peace; the rule of law; and education. Japan led the way in the late 19th century in realising the need to learn from the West if it was to avoid being colonised by it. South Korea and Taiwan followed in the 1960s and 1970s, along with Hong Kong and Singapore. Finally China and India saw the light in, respectively, the 1980s and 1990s. Since Asia has succeeded by emulating the West, why, asks Mr Mahbubani, is the West not celebrating?

Isn't it? What about all those business people flocking on aircraft to India and China? Mr Mahbubani offers no evidence for his assertion that the West is unhappy about Asian success. His answer to his own question is that the West—by which he means America and western Europe, plus Australia, Canada and New Zealand, and, more controversially, Japan—has become so used to dominating and controlling the world to serve its own interests that it has ceased to recognise even that it does so. “If you deny you are in power, you cannot cede power,” he argues.

Mr Mahbubani also contrasts “Western incompetence” with “Asian competence”: the world would be better run if Asians had a bigger role, though the West, he says, may try to stop that from happening. Ultimately, the rise of Asia may force the West to cede power, but it is not going to do so gracefully. As a result, there is a serious risk of an anti-Western backlash.

The first problem with this argument is shown by Mr Mahbubani's inclusion of Japan as a Western economy. That is not the way things felt during the 1980s, when what was meant by “the shift of power to Asia” was the rise of Japan. It also suggests that his definition of Western is really just “rich”: surely, as other Asian countries become rich, they too will become part of the rich ruling elite of the world, just as Japan did during the 1970s and 1980s. China and India are already invited as observers at the main rich-country summit, the G8, and it can only be a matter of time before they become full members.

The second problem is a bigger one. To arrive at his conclusion that the West is incompetent and Asia competent, Mr Mahbubani has to use a rather distorted view of recent history. When citing the debacle in Iraq he is, of course, shooting at a lame and sitting duck. But his other evidence is much weaker: the West's failure to maintain the global nuclear non-proliferation regime; the failure to prevent genocide in Rwanda and war in the Balkans; and the failure of the Doha round of global trade-liberalisation talks.

It is certainly lamentable that the nuclear non-proliferation regime has been crumbling. But whose fault is that? Of the four new nuclear-weapons states that have emerged in recent decades, three have been Asian—India, Pakistan and North Korea. Two of those—Pakistan and North Korea—attained their nuclear status with a technological helping hand from China, a country Mr Mahbubani rates as being run by peace-mongering geopolitical geniuses.

America and western Europe should certainly be criticised for failing to avert the terrible events in Rwanda and the Balkans. Mr Mahbubani's argument is also, however, that Asia has been much better at keeping the peace in its region. This view can be sustained only if you ignore the recurrent conflicts between India and Pakistan over Kashmir, and the civil war in Sri Lanka, as well as Asia's closest parallel to the former Yugoslavia, which is Indonesia. Neither China nor the Association of Southeast Asian Nations (ASEAN), which Mr Mahbubani lauds as far more successful diplomatically than the European Union, did anything to prevent the bloodshed in the then East Timor as it sought to separate itself from Indonesia, nor the bloodshed in Aceh, which failed to do so. In that, Asia's failure was just as big as that of the EU in the Balkans.

And the Doha round? A newspaper that was founded 165 years ago to campaign against farm protectionism cannot but join Mr Mahbubani in condemning the EU and America for clinging on to their farm subsidies and trade barriers, which have blocked progress in Doha. But Japan and South Korea are also big farm protectionists, and India has helped thwart Doha by its resistance to broader trade liberalisation. The blame should be as global as trade itself.

Mr Mahbubani's Asian triumphalism is as futile and unconvincing as the Western triumphalism he deplores. That is a shame, as the recommendations he makes for how world governance should be improved are sensible: Chinese and Indian membership of the G8; an end to American and European hogging of the top jobs at the IMF and the World Bank; reform of the UN Security Council to give permanent, veto-holding status to more Asian countries. All are regularly made by Western intellectuals too, even though he claims such minds are determined to maintain the supremacy of the West.


In THE WELL BEHAVED CHILD, the author who is a family psychologist, has again offered very excellent "old fashioned" ways of bringing up a kid who is respectful, responsible and self-directed. This book was published in 2009 and is the 3rd book on parenting that I have read by the same author. I highly recommend this book to anyone who is a parent to a child between 3-12 yrs of age.

Both books are available from NLB.
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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