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
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
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...
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.
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.