Interview with Millionairemind

Interview with Millionairemind

Postby winston » Sat Mar 13, 2010 8:34 am

This week, we are very please to introduce Millionairemind ...


Investideas: You have a very special nick. Why are you using this nick and what does it mean ?

I just finished reading the book "THE MILLIONAIRE MIND" by Thomas Stanley when I first joined the now defunct WallStraits Forum and hence decided to use that nick. It could have been “IamAnIdiot” if that was the title of the book :P

Jokes aside, the books by Tom Stanley on the habits of millionaires are a pretty good read.


InvestIdeas: What can you tell us about your background ?

I graduated with a degree in Chemical Engineering from NUS back in 1997. God! Has it been that long already??

I am now a full time father, part time trader 8-)

In my first job, I was a Technical Advisor for the refining and petrochemical complexes, working out of the US. We do consulting work for the likes of Shell, Exxon Mobil and Reliance. That job took me out of Singapore for 6-7 years, out of which we (including the better half) spent 2 yrs in the US, 1 yr in India and Taiwan each, with the rest of the time spent in Korea, China, Indonesia and Russia.

When I got back to Singapore (mum’s request :( ) , I was headhunted to take charge of the manufacturing technology for a US specialty chemicals company. They have plants all over Asia (India, Australia, China, Indonesia, Taiwan and Korea) and that entailed 50% travel.

Both jobs were quite fun .. :)


InvestIdeas: How long have you been investing / trading ?

About 10 years. But I got really serious only starting in 2005. Back then when I was starting out in 1999, I was learning ALL THE WRONG IDEAS about investing/trading like BUY AND HOLD... :evil:


InvestIdeas: What is your Investment Strategy ?

I used to believe in BUY AND HOLD... but the 2000-2003 bear market mauled that idea to death.

I chanced upon a book called "HOW TO MAKE MONEY IN STOCKS" by William O’Neil when I went back to the US to work in 2006 and that changed my perspective.

My strategy is the CANSLIM strategy for the US market but with modifications for the Singapore market. I have covered it in the CANSLIM thread.


InvestIdeas: What are your favorite books on trading/investing?

1. How to make money in stocks by Bill O'Neil
2. How to trade in stocks by Jesse Livermore
3. My own story by Bernard Baruch
4. The battle for Investment Survival by Gerald Loeb
5. Reminscience of a stock operator by Edwin Lefevre


InvestIdeas: What are your investment vehicles ?

US and Singapore stocks. For shorting, I use both the CFD, SBL and SP500 Index Futures. I have given up on shorting using the MSCI Singapore Index futures because the odds are stack against us. The BBs decide how they want to open in the morning, unlike SP500 futures where its traded around the clock.


InvestIdeas: What has been your best investment so far?

It was back in 2006/2007 and in a company called CG Tech (now C&G Industry). That was way before the s-chip scandals in 2008. I made a bundle on that company as I tend to take concentrated bets and hold only 5-7 stocks each time in an uptrend. I try to avoid penny s-chip. No point having alot of money stuck in them when they cease trading...


InvestIdeas: What has been your worst investment?

Believe it or not, alot of them.. haha...

I lost a bundle back when the dot.com bubble burst. I think I lost around $200K but have since made it all back.


InvestIdeas: What advice do you have for a young/newbie who is just starting out ?

First its READ, READ and READ some more

Then its ACTION, ACTION and more ACTION...

Finally its CUT LOSS, CUT LOSS and CUT LOSS...

Be open to ideas that contradict what you know from the mainstream media. If someone tells you that market can be timed, don’t turn around and say impossible.

GO find out and learn more. Then decide for yourself. The BIGGEST LIE ever told to the investing public is to "BUY AND HOLD" ... and this has been perpetuated by all the myths surrounding WB.

If you are in a corporate career, only remember 2 things. Your job is to make your boss look good to his boss and ALWAYS GO THE EXTRA MILE. It paid off handsomely for me when I was in corporate.


InvestIdeas: Are there any other non-investment related books that may have influenced your outlook on life ?

1. Chasing Daylight by Gene O'Kelly
2. Think and Grow Rich by Napolean Hill
3. Unlimited Power/Awaken the giant within by Tony Robbins
4. Leaving Microsoft to change the world by John Wood


InvestIdeas: Are you able to tell us a bit about your family ?

I am married with a 7yr old boy. My wife is an educator and son’s a naughty boy . We structure our family life so that the wife is at home by 230pm to spend time together as a family.

For those of you who are still sitting on the fence about starting a family, do go ahead. We did it for my mum and it was the single best decision we ever made. (I am not from the gahmen family planning unit )


InvestIdeas: What are some of your favourite investment topics in the forum ?

CANSLIM http://investideas.net/forum/viewtopic.php?f=16&t=2451
Investment Myths Busted http://investideas.net/forum/viewtopic. ... &start=140
Options Strategy by KNN http://investideas.net/forum/viewtopic. ... 8&start=60
US Market Direction http://investideas.net/forum/viewtopic. ... 0&start=80
Winston’s Investment Ideas http://investideas.net/forum/viewtopic. ... &start=160
Movies http://investideas.net/forum/viewtopic. ... &start=170
Books http://investideas.net/forum/viewtopic. ... 8&start=30
Smile & Laugh (cos' I like to laugh) http://investideas.net/forum/viewtopic. ... 5&start=60
Education http://investideas.net/forum/viewtopic. ... &start=110
Family and Parenthood http://investideas.net/forum/viewtopic. ... 8&start=80


InvestIdeas: What are some of your other interests?

I love to read. My favourite topics are Investing/Trading, Psychology, Economics and Self-Help. I enjoy spending time with my son, bringing him cycling and swimming. I do enjoy looking at pretty woman once in a while ;)

I really enjoy going to the cinema to catch shows with great special effects like Avatar. :D

Volunteering my time to worthy causes is also lots of fun. We all do what we can within our means, to make this world a better place. 8-)
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: Interview with Millionairemind

Postby helios » Sat Mar 13, 2010 9:05 am

MM ge is also a speedy reader too.

Now, that i know you have spent many forefront years in corporate circle, and culturally exposed new environments ... ...

WOW, we've yet to meet!
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Re: Interview with Millionairemind

Postby learn2win » Sat Mar 13, 2010 10:24 am

Finally your interview is out. :)
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Re: Interview with Millionairemind

Postby millionairemind » Sat Mar 13, 2010 10:39 am

San San wrote:MM ge is also a speedy reader too.

Now, that i know you have spent many forefront years in corporate circle, and culturally exposed new environments ... ...

WOW, we've yet to meet!


Paiseh that I missed the last gathering. :oops:

Will make it for the next one that you organize. :D
"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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Re: Interview with Millionairemind

Postby Musicwhiz » Sat Mar 13, 2010 12:28 pm

Wow full time father? That's something I'd like to be. Being a salaried employee sucks.......that's why I work towards financial freedom.

MM, from the description of your job you sound like a high-flyer. Admire you for that! I also wish I could be headhunted, but don't have the kind of skills and business acumen on the job to qualify..... :lol:

Your trading skills are also very sharp, and you seem very knowledgeable and in-tune with the markets, another aspect I admire. I was surprised to read that you lost money back when you started ($200K sounds like a lot to me hehe), but glad you made it all back, and more! :D

You're pretty active on the Property and Parenting threads, and I love it when you share your insights.

Though sometimes, when I read about the friends you have in Singapore who are so rich and successful (mostly graduate couples, you mention), I wonder when I can ever "get there". Oh well, just continue to "slog" everyday. Hahaha.

Thanks for the interview. It's a good one. :)
Please visit my value investing blog at http://sgmusicwhiz.blogspot.com
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Re: Interview with Millionairemind

Postby helios » Sat Mar 13, 2010 12:30 pm

ha ha ... whizzy ... you are high-flyer too!
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Re: Interview with Millionairemind

Postby kennynah » Sat Mar 13, 2010 1:38 pm

MM :

very nice....thanks for sharing :!: so that we can all continue to benefit from your postings... 8-)
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Re: Interview with Millionairemind

Postby millionairemind » Sat Mar 13, 2010 5:50 pm

Musicwhiz wrote:Wow full time father? That's something I'd like to be. Being a salaried employee sucks.......that's why I work towards financial freedom.

MM, from the description of your job you sound like a high-flyer. Admire you for that! I also wish I could be headhunted, but don't have the kind of skills and business acumen on the job to qualify..... :lol:

Your trading skills are also very sharp, and you seem very knowledgeable and in-tune with the markets, another aspect I admire. I was surprised to read that you lost money back when you started ($200K sounds like a lot to me hehe), but glad you made it all back, and more! :D

You're pretty active on the Property and Parenting threads, and I love it when you share your insights.

Though sometimes, when I read about the friends you have in Singapore who are so rich and successful (mostly graduate couples, you mention), I wonder when I can ever "get there". Oh well, just continue to "slog" everyday. Hahaha.

Thanks for the interview. It's a good one. :)


MW,

Thanks for your kind compliments. I have been very fortunate in my corporate career that I had an appreciative boss in both my jobs.

I understand your frustrations regarding corporate life. We just have to roll with the punches :D

If you learn of my trading/investing mistakes, you will laugh from :D to this :lol: (teeth all drop out :D)

We are all here to learn. Losing money is the best lesson and teacher. :D

Cheers,
mm
"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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Re: Interview with Millionairemind

Postby millionairemind » Sat Mar 13, 2010 6:07 pm

kennynah wrote:MM :

very nice....thanks for sharing :!: so that we can all continue to benefit from your postings... 8-)


K Towkay,

You keep posting on your options thread. That's one of my favorite thread in this forum. :D

Cheers,
mm
"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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Re: Interview with Millionairemind

Postby Cheng » Sat Mar 13, 2010 6:33 pm

Going for another child soon? :lol: :lol: :lol:
"The really big money tends to be made by investors who are right on qualitative decisions." Warren Buffett

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