10 November 2008
23 October 2008
Buy American. I Am. (WARREN E. BUFFETT)
October 17, 2008 – The New York Times
Buy American. I Am.
By WARREN E. BUFFETT
Omaha
THE financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.
So ... I’ve been buying American stocks. This is my personal account I’m talking about, in which I previously owned nothing but United States government bonds. (This description leaves aside my Berkshire Hathaway holdings, which are all committed to philanthropy.) If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities.
Why?
A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation’s many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.
Let me be clear on one point: I can’t predict the short-term movements of the stock market. I haven’t the faintest idea as to whether stocks will be higher or lower a month — or a year — from now. What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over.
A little history here: During the Depression, the Dow hit its low, 41, on July 8, 1932. Economic conditions, though, kept deteriorating until Franklin D. Roosevelt took office in March 1933. By that time, the market had already advanced 30 percent. Or think back to the early days of World War II, when things were going badly for the United States in Europe and the Pacific. The market hit bottom in April 1942, well before Allied fortunes turned. Again, in the early 1980s, the time to buy stocks was when inflation raged and the economy was in the tank. In short, bad news is an investor’s best friend. It lets you buy a slice of America’s future at a marked-down price.
Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.
You might think it would have been impossible for an investor to lose money during a century marked by such an extraordinary gain. But some investors did. The hapless ones bought stocks only when they felt comfort in doing so and then proceeded to sell when the headlines made them queasy.
Today people who hold cash equivalents feel comfortable. They shouldn’t. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. Indeed, the policies that government will follow in its efforts to alleviate the current crisis will probably prove inflationary and therefore accelerate declines in the real value of cash accounts.
Equities will almost certainly outperform cash over the next decade, probably by a substantial degree. Those investors who cling now to cash are betting they can efficiently time their move away from it later. In waiting for the comfort of good news, they are ignoring Wayne Gretzky’s advice: “I skate to where the puck is going to be, not to where it has been.”
I don’t like to opine on the stock market, and again I emphasize that I have no idea what the market will do in the short term. Nevertheless, I’ll follow the lead of a restaurant that opened in an empty bank building and then advertised: “Put your mouth where your money was.” Today my money and my mouth both say equities.
Warren E. Buffett is the chief executive of Berkshire Hathaway, a diversified holding company.
Buy American. I Am.
By WARREN E. BUFFETT
Omaha
THE financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.
So ... I’ve been buying American stocks. This is my personal account I’m talking about, in which I previously owned nothing but United States government bonds. (This description leaves aside my Berkshire Hathaway holdings, which are all committed to philanthropy.) If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities.
Why?
A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation’s many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.
Let me be clear on one point: I can’t predict the short-term movements of the stock market. I haven’t the faintest idea as to whether stocks will be higher or lower a month — or a year — from now. What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over.
A little history here: During the Depression, the Dow hit its low, 41, on July 8, 1932. Economic conditions, though, kept deteriorating until Franklin D. Roosevelt took office in March 1933. By that time, the market had already advanced 30 percent. Or think back to the early days of World War II, when things were going badly for the United States in Europe and the Pacific. The market hit bottom in April 1942, well before Allied fortunes turned. Again, in the early 1980s, the time to buy stocks was when inflation raged and the economy was in the tank. In short, bad news is an investor’s best friend. It lets you buy a slice of America’s future at a marked-down price.
Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.
You might think it would have been impossible for an investor to lose money during a century marked by such an extraordinary gain. But some investors did. The hapless ones bought stocks only when they felt comfort in doing so and then proceeded to sell when the headlines made them queasy.
Today people who hold cash equivalents feel comfortable. They shouldn’t. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. Indeed, the policies that government will follow in its efforts to alleviate the current crisis will probably prove inflationary and therefore accelerate declines in the real value of cash accounts.
Equities will almost certainly outperform cash over the next decade, probably by a substantial degree. Those investors who cling now to cash are betting they can efficiently time their move away from it later. In waiting for the comfort of good news, they are ignoring Wayne Gretzky’s advice: “I skate to where the puck is going to be, not to where it has been.”
I don’t like to opine on the stock market, and again I emphasize that I have no idea what the market will do in the short term. Nevertheless, I’ll follow the lead of a restaurant that opened in an empty bank building and then advertised: “Put your mouth where your money was.” Today my money and my mouth both say equities.
Warren E. Buffett is the chief executive of Berkshire Hathaway, a diversified holding company.
17 September 2008
15 September 2008
17 August 2008
What Is Love?
What is love?
When we claim that it's love that we have for someone, are we correct? something to ponder upon.....
Are your palms sweaty, is your heart racing and is your voice caught within your chest?
It isn't love, it's like.
You can't keep your eyes or hands off of them, am I right?
It isn't love, it's lust.
Are you proud, and eager to show them off?
It isn't love, it's luck.
Do you want them because you know they're there?
It isn't love, it's loneliness.
Are you there because it's what everyone wants?
It isn't love, it's loyalty.
Are you there because they kissed you, or held your hand?
It isn't love, it's low confidence.
Do you stay for their confessions of love, because you don't want to hurt them?
It isn't love, it's pity.
Do you belong to them because their sight makes your heart skip a beat?
It isn't love, it's infatuation.
Do you pardon their faults because you care about them?
It isn't love, it's friendship.
Do you tell them every day they are the only one you think of?
It isn't love, it's a lie.
Are you willing to give all of your favorite things for their sake?
It isn't love, it's charity.
Does your heart ache and break when they're sad? Then it's love.
Do you cry for their pain, even when they're strong?
Then it's love.
Do their eyes see your true heart, and touch your soul so deeply it hurts?
Then it's love.
Do you stay because a blinding, incomprehensible mix of pain and relation pulls you close and holds you there?
Then it's love.
Do you accept their faults because they're a part of who they are?
Then it's love.
Are you attracted to others, but stay with them faithfully without regret?
Then it's love.
Would you allow them to leave you , not because they want to but because they have to?
Then its love.
Would you give them your heart, your life, your death?
it's love.
Now, if love is painful, and tortures us so, why do we love? Why is it all we search for in life? This pain, this agony? Why is it all we long for? This torture, this powerful death of self? Why? The answer is so simple cause it's...LOVE. It is such an addiction that even people who are not having it wish to experience and share it with .
When we claim that it's love that we have for someone, are we correct? something to ponder upon.....
Are your palms sweaty, is your heart racing and is your voice caught within your chest?
It isn't love, it's like.
You can't keep your eyes or hands off of them, am I right?
It isn't love, it's lust.
Are you proud, and eager to show them off?
It isn't love, it's luck.
Do you want them because you know they're there?
It isn't love, it's loneliness.
Are you there because it's what everyone wants?
It isn't love, it's loyalty.
Are you there because they kissed you, or held your hand?
It isn't love, it's low confidence.
Do you stay for their confessions of love, because you don't want to hurt them?
It isn't love, it's pity.
Do you belong to them because their sight makes your heart skip a beat?
It isn't love, it's infatuation.
Do you pardon their faults because you care about them?
It isn't love, it's friendship.
Do you tell them every day they are the only one you think of?
It isn't love, it's a lie.
Are you willing to give all of your favorite things for their sake?
It isn't love, it's charity.
Does your heart ache and break when they're sad? Then it's love.
Do you cry for their pain, even when they're strong?
Then it's love.
Do their eyes see your true heart, and touch your soul so deeply it hurts?
Then it's love.
Do you stay because a blinding, incomprehensible mix of pain and relation pulls you close and holds you there?
Then it's love.
Do you accept their faults because they're a part of who they are?
Then it's love.
Are you attracted to others, but stay with them faithfully without regret?
Then it's love.
Would you allow them to leave you , not because they want to but because they have to?
Then its love.
Would you give them your heart, your life, your death?
it's love.
Now, if love is painful, and tortures us so, why do we love? Why is it all we search for in life? This pain, this agony? Why is it all we long for? This torture, this powerful death of self? Why? The answer is so simple cause it's...LOVE. It is such an addiction that even people who are not having it wish to experience and share it with .
16 August 2008
10 August 2008
17 July 2008
The Story of Happiness
The story of happiness
Once upon a time, there lived a kind hearted man. After he died, he
ascend into the heavens and became an angel. After becoming an angel, he
often comes down to earth and help those to attain happiness.
Once, he met a farmer who was sulking. He told the angel that his bull
just died and he couldn't plough the fields. The angel gave the farmer a
healthy bull. The farmer was very happy and the angel could feel his
happiness.
Another time, he met a young man who was despondent. He told the angel
that he was robbed of his money and couldn't travel to his hometown. The
angel gave him some money. The young man was very happy and the angel
could feel his happiness.
This time, the angel met a poet. He was young, handsome and full of
talent. He was also rich. His wife was pretty and gentle. But he
declared he wasn't happy.
The angel asked, "You aren't happy. How can I help you?"
The poet replied, "I have everything. But I lack only one thing. Can you
give it to me?" To which the angel happily said, "Sure. I can give you anything you
desired."
The poet stared right into the angel's eyes, "I want happiness."
"All right," the angel nodded. And the angel proceed to take away some
of the the poet's possession.
The angel destroyed his looks, took his riches and made his wife fierce
The angel then left for heaven.
A month later, the angel appeared in front of the poet. The poet was
lying on the ground, half dead, hungry and struggling for survival.
The angel then returned him everything he once possessed and left for
heaven again.
Two weeks later, the angel paid a visit to the poet. This time, the
poet, together with his wife, thanked the angel profusely. He finally
found happiness.
Often, a person needs to lack something before he knows how to cherish.
Actually, happiness is right in front of you.
Just what is happiness?
When you are hungry, a bowl of hot noodle in front of you is happiness.
When you are tired, a soft bed is happiness. When you sad, a friend to
console. When you are sick, getting to consult a doctor is happiness.
Actually, happiness has no definition. Sometimes, small actions can
touch your heart. Happiness or not, depends on how you look at it.
Once upon a time, there lived a kind hearted man. After he died, he
ascend into the heavens and became an angel. After becoming an angel, he
often comes down to earth and help those to attain happiness.
Once, he met a farmer who was sulking. He told the angel that his bull
just died and he couldn't plough the fields. The angel gave the farmer a
healthy bull. The farmer was very happy and the angel could feel his
happiness.
Another time, he met a young man who was despondent. He told the angel
that he was robbed of his money and couldn't travel to his hometown. The
angel gave him some money. The young man was very happy and the angel
could feel his happiness.
This time, the angel met a poet. He was young, handsome and full of
talent. He was also rich. His wife was pretty and gentle. But he
declared he wasn't happy.
The angel asked, "You aren't happy. How can I help you?"
The poet replied, "I have everything. But I lack only one thing. Can you
give it to me?" To which the angel happily said, "Sure. I can give you anything you
desired."
The poet stared right into the angel's eyes, "I want happiness."
"All right," the angel nodded. And the angel proceed to take away some
of the the poet's possession.
The angel destroyed his looks, took his riches and made his wife fierce
The angel then left for heaven.
A month later, the angel appeared in front of the poet. The poet was
lying on the ground, half dead, hungry and struggling for survival.
The angel then returned him everything he once possessed and left for
heaven again.
Two weeks later, the angel paid a visit to the poet. This time, the
poet, together with his wife, thanked the angel profusely. He finally
found happiness.
Often, a person needs to lack something before he knows how to cherish.
Actually, happiness is right in front of you.
Just what is happiness?
When you are hungry, a bowl of hot noodle in front of you is happiness.
When you are tired, a soft bed is happiness. When you sad, a friend to
console. When you are sick, getting to consult a doctor is happiness.
Actually, happiness has no definition. Sometimes, small actions can
touch your heart. Happiness or not, depends on how you look at it.
17 June 2008
Modern Definition
School: A place where Papa pays and Son plays.
Life Insurance: A contract that keeps you poor all your life so that you can die Rich.
Lecture: An art of transferring information from the notes of the Lecturer to the notes of the students without passing through "the minds of either"
Conference: The confusion of one man multiplied by the number present.
Compromise: The art of dividing a cake in such a way that everybody believes he got the biggest piece.
Conference Room : A place where everybody talks, nobody listens and everybody disagrees later on.
Doctor : A person who kills your ills by pills, and kills you by bills.
Committee : Individuals who can do nothing individually and sit to decide that nothing can be done together!
Life Insurance: A contract that keeps you poor all your life so that you can die Rich.
Lecture: An art of transferring information from the notes of the Lecturer to the notes of the students without passing through "the minds of either"
Conference: The confusion of one man multiplied by the number present.
Compromise: The art of dividing a cake in such a way that everybody believes he got the biggest piece.
Conference Room : A place where everybody talks, nobody listens and everybody disagrees later on.
Doctor : A person who kills your ills by pills, and kills you by bills.
Committee : Individuals who can do nothing individually and sit to decide that nothing can be done together!
10 June 2008
Stock Investments Start Kit
Here are the 8 points to look out for when making your own stock investments.
1. Have a solid comprehension of basic economic principals.Before you get started, you should understand basic principals and laws of economics. The stock market closely follows the law of supply and demand. For example, when there is a large demand for the stock of a certain company, the cost of its stock will increase along with the demand. However, if there are more stock available for sale than there are buyers, the unit price of that company stock will decrease. This is why an undervalued stock can remain undervalued for a long time if there is no demand for the stock.
2. Learn about prospective companies you want to invest in.Do your homework before you invest in prospective companies. Read the company annual report, find out about their products, operations, services and basic business track record and understand the management. If possible, use the product that the company sells, or visit the shopping mall that the company owns. This information gives you an idea of how reliable their product is, how stable the company is and whether they can deliver on their promise to offer profits to investors.
3. Select companies with staying power.There are so many companies that exist in today's stock market, selecting becomes a major decision for beginning investors. Relatively stable companies and business are owned by the government, unless there is a political revolution or crisis going on.Oil companies and telecommunications companies are usually profitable and stable because there is a constant demand for their services and products. While IT companies are rapidly growing in today's stock market, there are so many of them it may be a challenge to check their profiles to exercise reasonable care before investing. In my view, innovation is the key to an IT company's sucess. If the company stop innovating their products or services, most likely they will not do well in the long run. Before putting your money into an IT company, verify their track record and make sure they are stable and profitable for a minimum of 10 years. In the environment of high oil price, avoid companies which has a high reliance on energy. And also avoid companies whose cost make up a high weightage in energy. Profitability of such companies will suffer as high oil price eats into their margins. Such examples are airlines companies and chemical companies.
4. Keep an eye on the news.Guesswork is completely ineffective when it comes to investing in the stock market, always remember investment is not a gamble. Good intuition and solid decision-making come from learning about global and local news both politically and economically. Read newspaper daily and try to read as much business magazines as possible. When you watch the news, make sure to keep track of the industry your company is in. Analyses how is the news going to affect the stocks that you are investing in. Even stable companies may go bankrupt or have a major blow that will bring them down.
5. Never put all your eggs in one basket.Avoid investing in just one company and spread out your stock investments to several businesses and several sectors. When you have stock concentrated in just one company, you have a greater chance of losing it all. When you spread out your investments over several companies, those earning profits can cushion the ones that not not as profitable.
6. Stockbrokers can be your stock advisors but you have the final say.A stock broker is actually gambling with your money so you need to do your own homework. Dishonest brokers can take advantage of investors who do not fully comprehend how the stock market works. Remember broker earns their income through commission, so they will always encourage you to trade more, irregularless the stock is good or bad. But the interest of the investor, which is yourself, is to make money from your stock investment.
7. Greed is your enemy.While everyone is eager to make profits in the stock market, an investor loses their sense of reason when they are fueled by greed. A money hungry investor may forget to check on economic rumors and spontaneously decide to sell or buy with the thought of making major profits and then lose it all. Avoid "hot" stocks and sectors, value usually comes from stocks that are not widely covered by analysts or stock brokers.
8. Avoid companies that are suffering losses and carries high debt/equity ratio. Most of the time share price rises when their earnings are growing. But if the earnings are not growing, the investor may still receive some dividends while waiting for the share price to rise. But if the company is suffering losses, you can forget about dividends. It will be worst if the company carries high debt level at the same time. If the company is unable to repay its debt, the company can declare bankrupt, and share price may go down to zero.Putting your money in the stock market can of course be risky, but hope that the above tips can help invest in the right direction.
1. Have a solid comprehension of basic economic principals.Before you get started, you should understand basic principals and laws of economics. The stock market closely follows the law of supply and demand. For example, when there is a large demand for the stock of a certain company, the cost of its stock will increase along with the demand. However, if there are more stock available for sale than there are buyers, the unit price of that company stock will decrease. This is why an undervalued stock can remain undervalued for a long time if there is no demand for the stock.
2. Learn about prospective companies you want to invest in.Do your homework before you invest in prospective companies. Read the company annual report, find out about their products, operations, services and basic business track record and understand the management. If possible, use the product that the company sells, or visit the shopping mall that the company owns. This information gives you an idea of how reliable their product is, how stable the company is and whether they can deliver on their promise to offer profits to investors.
3. Select companies with staying power.There are so many companies that exist in today's stock market, selecting becomes a major decision for beginning investors. Relatively stable companies and business are owned by the government, unless there is a political revolution or crisis going on.Oil companies and telecommunications companies are usually profitable and stable because there is a constant demand for their services and products. While IT companies are rapidly growing in today's stock market, there are so many of them it may be a challenge to check their profiles to exercise reasonable care before investing. In my view, innovation is the key to an IT company's sucess. If the company stop innovating their products or services, most likely they will not do well in the long run. Before putting your money into an IT company, verify their track record and make sure they are stable and profitable for a minimum of 10 years. In the environment of high oil price, avoid companies which has a high reliance on energy. And also avoid companies whose cost make up a high weightage in energy. Profitability of such companies will suffer as high oil price eats into their margins. Such examples are airlines companies and chemical companies.
4. Keep an eye on the news.Guesswork is completely ineffective when it comes to investing in the stock market, always remember investment is not a gamble. Good intuition and solid decision-making come from learning about global and local news both politically and economically. Read newspaper daily and try to read as much business magazines as possible. When you watch the news, make sure to keep track of the industry your company is in. Analyses how is the news going to affect the stocks that you are investing in. Even stable companies may go bankrupt or have a major blow that will bring them down.
5. Never put all your eggs in one basket.Avoid investing in just one company and spread out your stock investments to several businesses and several sectors. When you have stock concentrated in just one company, you have a greater chance of losing it all. When you spread out your investments over several companies, those earning profits can cushion the ones that not not as profitable.
6. Stockbrokers can be your stock advisors but you have the final say.A stock broker is actually gambling with your money so you need to do your own homework. Dishonest brokers can take advantage of investors who do not fully comprehend how the stock market works. Remember broker earns their income through commission, so they will always encourage you to trade more, irregularless the stock is good or bad. But the interest of the investor, which is yourself, is to make money from your stock investment.
7. Greed is your enemy.While everyone is eager to make profits in the stock market, an investor loses their sense of reason when they are fueled by greed. A money hungry investor may forget to check on economic rumors and spontaneously decide to sell or buy with the thought of making major profits and then lose it all. Avoid "hot" stocks and sectors, value usually comes from stocks that are not widely covered by analysts or stock brokers.
8. Avoid companies that are suffering losses and carries high debt/equity ratio. Most of the time share price rises when their earnings are growing. But if the earnings are not growing, the investor may still receive some dividends while waiting for the share price to rise. But if the company is suffering losses, you can forget about dividends. It will be worst if the company carries high debt level at the same time. If the company is unable to repay its debt, the company can declare bankrupt, and share price may go down to zero.Putting your money in the stock market can of course be risky, but hope that the above tips can help invest in the right direction.
29 April 2008
10 Interludes of LIFE
1. ANYONE can become angry - that is easy. But to be angry with the right person, to the right degree, at the right time, for the right purpose, and in the right way - that is not easy.
2. Shoot for the moon...even if you miss, you'll be among the stars.
3. A short course in Human Relations:
The six most important words: "I admit I made a mistake."
The five most important words: "You did a good job."
The four most important words: "What is your opinion."
The three most important words: "If you please."
The two most important words: "Thank you."
The one most important word: "WE"
The least important word: " I "
4. Lots of people want to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.
5. Watch your thoughts; they become words.
Watch your words; they become actions.
Watch your actions; they become habits.
Watch your habits; they become characters.
Watch your character; it becomes your destiny.
6. If you have a penny and I have a penny and we exchange pennies, you still have one cent and I still have one cent. But if you have an idea and I have an idea and we exchange ideas, you now have two ideas and I now have two ideas.
7. If you think you are beaten, you are. If you think you dare not, you don't. If you like to win but think you can't, it's almost certain that you don't. Life's battles don't always go to the stronger woman or man, but sooner or later, those who win are those who think they can.
8. IN HIS Creed for Optimists, Christian D. Larsen tells you how you can be somebody. Be so strong that nothing can disturb your peace of mind.
Talk health, happiness, and prosperity to every person you meet.
Make all your friends feel there is something special in them.
Look at the sunny side of everything.
Think only of the best, work only for the best, and expect only the best.
Be as enthusiastic about the success of others as you are about your own.
Forget the mistakes of the past and press on to the greater achievements of the future.
Give everyone a smile. :-)
Spend so much time improving yourself that you have no time left to criticize others.
Be too big for worry and too noble for anger.
9. The only place you find success before work is in the dictionary.
10. During the devastating earthquakes in Kobe, Japan, an American newscaster did a short piece on a Japanese woman who set up a makeshift store out of boxes selling flashlights and batteries. When the commentor asked why she wasn't selling these essential items for more than the regular price, the woman answered, "Why would I want to profit from someone else's suffering?"
2. Shoot for the moon...even if you miss, you'll be among the stars.
3. A short course in Human Relations:
The six most important words: "I admit I made a mistake."
The five most important words: "You did a good job."
The four most important words: "What is your opinion."
The three most important words: "If you please."
The two most important words: "Thank you."
The one most important word: "WE"
The least important word: " I "
4. Lots of people want to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.
5. Watch your thoughts; they become words.
Watch your words; they become actions.
Watch your actions; they become habits.
Watch your habits; they become characters.
Watch your character; it becomes your destiny.
6. If you have a penny and I have a penny and we exchange pennies, you still have one cent and I still have one cent. But if you have an idea and I have an idea and we exchange ideas, you now have two ideas and I now have two ideas.
7. If you think you are beaten, you are. If you think you dare not, you don't. If you like to win but think you can't, it's almost certain that you don't. Life's battles don't always go to the stronger woman or man, but sooner or later, those who win are those who think they can.
8. IN HIS Creed for Optimists, Christian D. Larsen tells you how you can be somebody. Be so strong that nothing can disturb your peace of mind.
Talk health, happiness, and prosperity to every person you meet.
Make all your friends feel there is something special in them.
Look at the sunny side of everything.
Think only of the best, work only for the best, and expect only the best.
Be as enthusiastic about the success of others as you are about your own.
Forget the mistakes of the past and press on to the greater achievements of the future.
Give everyone a smile. :-)
Spend so much time improving yourself that you have no time left to criticize others.
Be too big for worry and too noble for anger.
9. The only place you find success before work is in the dictionary.
10. During the devastating earthquakes in Kobe, Japan, an American newscaster did a short piece on a Japanese woman who set up a makeshift store out of boxes selling flashlights and batteries. When the commentor asked why she wasn't selling these essential items for more than the regular price, the woman answered, "Why would I want to profit from someone else's suffering?"
28 April 2008
Seven 7s
1. TRUST
TRUST is a very important factor for all relationships. When trust is broken, it is the end of the relationship. Lack of trust leads to suspicion, suspicion generates anger, anger causes enmity and enmity may result in separation. A telephone operator told me that one day she received a phone call. She answered, "Public Utilities Board." There was silence. She repeated, "PUB."
There was still no answer. When she was going to cut off the line, she Heard a lady's voice, "Oh, so this is PUB. Sorry, I got the number from my Husband's pocket but I do not know whose number it is." Without mutual trust, just imagine what will happen to the couple if the telephone operator answered with just "hello" instead of "PUB".
2. NO POINTING FINGERS
A man asked his father-in-law, "Many people praised you for a successful marriage. Could you please share with me your secret?" The father-in-law answered in a smile, "Never criticise your wife for her shortcomings or when she does something wrong. Always bear in mind that because of her shortcomings and weaknesses, she could not find a better husband than you."
We all look forward to being loved and respected. Many people are afraid of losing face. Generally, when a person makes a mistake, he would look around to find a scapegoat to point the finger at.
This is the start of a war. We should always remember that when we point one finger at a person, the other four fingers are pointing at ourselves.
If we forgive others, others will ignore our mistake too.
3. CREATING PERFECT RELATIONSHIPS?
A person visited the government matchmaker for marriage, SDU, and requested "I am looking for a spouse. Please help me to find a suitable one."
The SDU officer said, "Your requirements, please." "Oh, good looking, polite, humorous, sporty, knowledgeable, good in singing and dancing. Willing to accompany me the whole day at home during my leisure hour, if I don't go out. Telling me interesting stories when I need companion for conversation and be silent when I want to rest."
The officer listened carefully and replied, "I understand you needtelevision."
There is a saying that a perfect match can only be found between a blind wife and a deaf husband, because the blind wife cannot see the faults ! of the husband and the deaf husband cannot hear the nagging of > the wife.
Many couples are blind and deaf at the courting stage and dream of perpetual perfect relationship. Unfortunately, when the excitement of love wears off, they wake up and discover that marriage is not a bed of roses.
The nightmare begins.
4. NO OVERPOWERING
Many relationships fail because one party tries to overpower another, or demands too much. People in love tend to think that love will conquer all and their spouses will change the bad habits after marriage.
Actually, this is not the case. There is a Chinese saying which carries the meaning that "It is easier to reshape a mountain or a river than a person's character."
It is not easy to change. Thus, having high expectation on changing the spouse character will cause disappointment and unpleasantness.
I! t would be less painful to change ourselves and lower our expectations..
5. RIGHT SPEECH
There is a Chinese saying which carries the meaning that "A speech will either prosper or ruin a nation." Many relationships break off because of wrong speech. When a couple is too close with each other, we always forget mutual respect and courtesy. We may say anything without considering if it would hurt the other party.
A friend and her millionaire husband visited their construction site. A worker who wore a helmet saw her and shouted, "Hi, Emily! Remember me? We used to date in the secondary school." On the way home, her millionaire husband teased her, "Luckily you married me. Otherwise you will be the wife of a construction worker." She answered, "You should appreciate that you married me. Otherwise, he will be the millionaire and not you."
Frequently exchanging these remarks plants the seed for a bad relationship.
6. PERSONAL PERCEPTION
Different people have different perception. One man's meat could be another man's poison. A couple bought a donkey from the market. On the way home, a boy commented, "Very stupid. Why neither of them ride on the donkey?"
Upon hearing that, the husband let the wife ride on the donkey.He walked besides them. Later, an old man saw it and commented, "The husband is the head of family.How can the wife ride on the donkey while the husband is on foot?"Hearing this, the wife quickly got down and let the husband ride on the donkey.
Further on the way home, they met an old Lady. She commented, "How can the man ride on the donkey but let the wife walk. He! is no gentleman."
The husband thus quickly asked the wife to join him on the donkey.
Then, they met a young man. He commented, "Poor donkey, how can you hold up the weight of two persons. They are cruel to you."
Hearing that, the husband and wife immediately climbed down from the donkey and carried it on their shoulders. It seems to be the only choice left.
Later, on a narrow bridge, the donkey was frightened and struggled. They lost their balance and fell into the river.
You can never have everyone praise you, nor will everyone condemn you.
Never in the past, not at present, and never will be in the future.
Thus, do not be too bothered by others words if our conscience is clear..
7. BE PATIENT
This is a true story which happened in the States. A man came out of his home to admire his new truck. To his puzzlement, his three-year-old son was happily hammering dents into the shiny paint of the truck.
The man ran to his son, knocked him away, hammered the little boy's hands into pulp as punishment.
When the father calmed down, he rushed his son to the hospital. Although the doctor tried desperately to save the crushed bones, he finally had to amputate the fingers from both the boy's hands.
When the boy woke up from the surgery & saw his bandaged stubs, he innocently said, " Daddy, I'm sorry about your truck." Then he asked, "but when are my fingers going to grow back?"
The father went home & committed suicide. Think about this story the next time someone steps on your feet or u wish to take revenge. Think first before u lose your patience with someone u love. Trucks can be repaired.. Broken bones & hurt feelings often can't.
Too often we fail to recognise the difference between the person and the performance. We forget that forgiveness is greater than revenge. People make mistakes. We are allowed to make mistakes. But the actions we take while in a rage will haunt us forever.
Pause and ponder. Think before you act. Be patient. Forgive & forget.
Love one and all.
If you judge people, you have no time to love them.
TRUST is a very important factor for all relationships. When trust is broken, it is the end of the relationship. Lack of trust leads to suspicion, suspicion generates anger, anger causes enmity and enmity may result in separation. A telephone operator told me that one day she received a phone call. She answered, "Public Utilities Board." There was silence. She repeated, "PUB."
There was still no answer. When she was going to cut off the line, she Heard a lady's voice, "Oh, so this is PUB. Sorry, I got the number from my Husband's pocket but I do not know whose number it is." Without mutual trust, just imagine what will happen to the couple if the telephone operator answered with just "hello" instead of "PUB".
2. NO POINTING FINGERS
A man asked his father-in-law, "Many people praised you for a successful marriage. Could you please share with me your secret?" The father-in-law answered in a smile, "Never criticise your wife for her shortcomings or when she does something wrong. Always bear in mind that because of her shortcomings and weaknesses, she could not find a better husband than you."
We all look forward to being loved and respected. Many people are afraid of losing face. Generally, when a person makes a mistake, he would look around to find a scapegoat to point the finger at.
This is the start of a war. We should always remember that when we point one finger at a person, the other four fingers are pointing at ourselves.
If we forgive others, others will ignore our mistake too.
3. CREATING PERFECT RELATIONSHIPS?
A person visited the government matchmaker for marriage, SDU, and requested "I am looking for a spouse. Please help me to find a suitable one."
The SDU officer said, "Your requirements, please." "Oh, good looking, polite, humorous, sporty, knowledgeable, good in singing and dancing. Willing to accompany me the whole day at home during my leisure hour, if I don't go out. Telling me interesting stories when I need companion for conversation and be silent when I want to rest."
The officer listened carefully and replied, "I understand you needtelevision."
There is a saying that a perfect match can only be found between a blind wife and a deaf husband, because the blind wife cannot see the faults ! of the husband and the deaf husband cannot hear the nagging of > the wife.
Many couples are blind and deaf at the courting stage and dream of perpetual perfect relationship. Unfortunately, when the excitement of love wears off, they wake up and discover that marriage is not a bed of roses.
The nightmare begins.
4. NO OVERPOWERING
Many relationships fail because one party tries to overpower another, or demands too much. People in love tend to think that love will conquer all and their spouses will change the bad habits after marriage.
Actually, this is not the case. There is a Chinese saying which carries the meaning that "It is easier to reshape a mountain or a river than a person's character."
It is not easy to change. Thus, having high expectation on changing the spouse character will cause disappointment and unpleasantness.
I! t would be less painful to change ourselves and lower our expectations..
5. RIGHT SPEECH
There is a Chinese saying which carries the meaning that "A speech will either prosper or ruin a nation." Many relationships break off because of wrong speech. When a couple is too close with each other, we always forget mutual respect and courtesy. We may say anything without considering if it would hurt the other party.
A friend and her millionaire husband visited their construction site. A worker who wore a helmet saw her and shouted, "Hi, Emily! Remember me? We used to date in the secondary school." On the way home, her millionaire husband teased her, "Luckily you married me. Otherwise you will be the wife of a construction worker." She answered, "You should appreciate that you married me. Otherwise, he will be the millionaire and not you."
Frequently exchanging these remarks plants the seed for a bad relationship.
6. PERSONAL PERCEPTION
Different people have different perception. One man's meat could be another man's poison. A couple bought a donkey from the market. On the way home, a boy commented, "Very stupid. Why neither of them ride on the donkey?"
Upon hearing that, the husband let the wife ride on the donkey.He walked besides them. Later, an old man saw it and commented, "The husband is the head of family.How can the wife ride on the donkey while the husband is on foot?"Hearing this, the wife quickly got down and let the husband ride on the donkey.
Further on the way home, they met an old Lady. She commented, "How can the man ride on the donkey but let the wife walk. He! is no gentleman."
The husband thus quickly asked the wife to join him on the donkey.
Then, they met a young man. He commented, "Poor donkey, how can you hold up the weight of two persons. They are cruel to you."
Hearing that, the husband and wife immediately climbed down from the donkey and carried it on their shoulders. It seems to be the only choice left.
Later, on a narrow bridge, the donkey was frightened and struggled. They lost their balance and fell into the river.
You can never have everyone praise you, nor will everyone condemn you.
Never in the past, not at present, and never will be in the future.
Thus, do not be too bothered by others words if our conscience is clear..
7. BE PATIENT
This is a true story which happened in the States. A man came out of his home to admire his new truck. To his puzzlement, his three-year-old son was happily hammering dents into the shiny paint of the truck.
The man ran to his son, knocked him away, hammered the little boy's hands into pulp as punishment.
When the father calmed down, he rushed his son to the hospital. Although the doctor tried desperately to save the crushed bones, he finally had to amputate the fingers from both the boy's hands.
When the boy woke up from the surgery & saw his bandaged stubs, he innocently said, " Daddy, I'm sorry about your truck." Then he asked, "but when are my fingers going to grow back?"
The father went home & committed suicide. Think about this story the next time someone steps on your feet or u wish to take revenge. Think first before u lose your patience with someone u love. Trucks can be repaired.. Broken bones & hurt feelings often can't.
Too often we fail to recognise the difference between the person and the performance. We forget that forgiveness is greater than revenge. People make mistakes. We are allowed to make mistakes. But the actions we take while in a rage will haunt us forever.
Pause and ponder. Think before you act. Be patient. Forgive & forget.
Love one and all.
If you judge people, you have no time to love them.
25 April 2008
Success ?
In one’s life, how do we define ‘success’? We often hear people quoting phrases like “You’re a successful person in life!” Is ‘success’ based or judged on one’s achievements in life? Think it has always been the case. You can easily witness in the media that high achievers are classified as successful people in life. But this kind of classification is fair and true to what extend?
‘Successful’ by word meaning in English language context refers to getting what you desire, or attaining your objective. What about the time horizon? Certain objectives are harder to met and require longer time horizon. Does it mean these people who attain these goals are more successful than those whose objectives are easier to attain and shorter in time frame?
Comparative mind sets in. Human beings classify success according to prestige and glamour of the underlying gains. A person who has 7C’s in life is considered successful? If so, success is merely on material gains in life. People view ‘success’ in different aspect and basis. This is true. But in a world like today, success is often judged upon material gains. For example, comparing two persons, a person who is a CEO and a runner. The latter is a top runner in his country. So who is more successful? The usual and common answer would be the CEO. Why is this so?
My viewpoint is that people can only witness each individual’s resulted success and achievements. However more importantly, is the underlying time and effort that has been taken to towards success. This timeless effort is seldom been understood. Successful people are such people with drive to succeed, putting in countless effort and time to work towards success. A CEO’s efforts and time to achieve such status might only be minimal. It could be a pass-down family business. A runner’s effort might be maximal. He could have trained harder than anyone. But nobody knows. In this context, he could be more successful than a CEO.
Now what about those who put in countless effort and time but couldn’t attain his goals? Are they considered unsuccessful?
“It’s the action, not the fruit of the action, that’s important. You have to do the right thing. It may not be in your power, may not be in your time, that there’ll be any fruit. But that doesn’t mean you stop doing the right thing. You may never know what results come from your action. But if you do nothing, there will be no results.”
23 April 2008
The Mayonnaise Jar & 2 Cups of Coffee
When things in your life seem almost too much to handle; when 24 hours ina day are not enough; remember the mayonnaise jar and the 2 cups of coffee...
A professor stood before his philosophy class and had some items in front of him.When the class began, he wordlessly picked up a very large and empty mayonnaise jar and proceeded to fill it with golf balls. He then asked the students if the jar was full.
They agreed that it was.
The professor then picked up a box of pebbles and poured them into thejar. He shook the jar lightly. The pebbles rolled into the open areas between the golf balls.He then asked the students again if the jar was full.
They agreed it was.
The professor next picked up a box of sand and poured it into the jar.Of course, the sand filled up everything else.He asked once more if the jar was full.The students responded with an unanimous "yes."
The professor then produced two cups of coffee from under the table andpoured the entire contents into the jar, effectively filling the empty space between the sand. The students laughed."Now," said the professor as the laughter subsided,"I want you to recognize that this jar represents your life.
The golf balls are the important things --your family, your children, your health, your friends and your favorite passions--- and if everything else was lost and only they remained;your life would still be full.
The pebbles are the other things that matter; like your job, your house and your car.
The sand is everything else---the small stuff. "If you put the sand into the jar first," he continued," there is no room for the pebbles or the golf balls.
The same goes for life. If you spend all your time and energy on the small stuff, you will never have room for the things that are important to you.
"Pay attention to the things that are critical to your happiness.
31 March 2008
Overtime
1) To impress the boss
Normally these people just stay back because they want the boss to see that they are still here working. That is why when the boss is on leave they will be the one waiting at the front door on the dot ready to take off.
2) Poor time-management
This is simply not knowing on how to plan, organize and execute the to-do-list or assignments. Hence they will always take longer than the rest to complete anything.
3) Overloaded Even with excellent time-management, the work seems endless.
This is the reason why the poor guy has to eat into his own personal time to finish the work. He needs to know whether he is overloaded or simply needs improvement in time-management skill. If it is confirmed that he is overloaded, don't be afraid to raise a hand and ask for help. Don't try to be a Superman and do all while sacrificing your own personal time and not to mention your family time too.
4) Personal reasons.
Some people just stay back because they have their own personal reasons to do so. I know one guy stays back because he needs to surf the net. There are others that might just stay back while waiting to pick up their kids from tuition or school. Believe it or not they are also people that stay back simply because they have problem at home and not eager to go back that soon.
Normally these people just stay back because they want the boss to see that they are still here working. That is why when the boss is on leave they will be the one waiting at the front door on the dot ready to take off.
2) Poor time-management
This is simply not knowing on how to plan, organize and execute the to-do-list or assignments. Hence they will always take longer than the rest to complete anything.
3) Overloaded Even with excellent time-management, the work seems endless.
This is the reason why the poor guy has to eat into his own personal time to finish the work. He needs to know whether he is overloaded or simply needs improvement in time-management skill. If it is confirmed that he is overloaded, don't be afraid to raise a hand and ask for help. Don't try to be a Superman and do all while sacrificing your own personal time and not to mention your family time too.
4) Personal reasons.
Some people just stay back because they have their own personal reasons to do so. I know one guy stays back because he needs to surf the net. There are others that might just stay back while waiting to pick up their kids from tuition or school. Believe it or not they are also people that stay back simply because they have problem at home and not eager to go back that soon.
29 March 2008
Inflation Paradox
Check out the trend: Inflation in 2005 was 0.5 per cent. It doubled to 1 per cent in 2006.
This year, it will be about 2 per cent.
Last month, the Government forecast 2008 inflation to be 2 to 3 per cent. Now, the official forecast is 3.5 to 4.5 per cent.
What is going on? We haven't seen inflation this high since 1980 and 1981 when it hit 8.5 and 8.2 per cent.
The all-time record was back in 1973 and 1974 when prices rose 20 and 22 per cent.
For hyper-inflation, check out Zimbabwe, Africa. Its annual inflation rate is 9,000 per cent.
An expat there complained that the price he paid for his home 10 years ago will buy only one bunch of bananas today.
THE BAD NEWS
There are two reasons why inflation could come roaring back: demand and supply.
Demand: Li Xinru lives with his wife and son on a small farm in China. Last month, the family bought their first car.
Of course, the car uses petrol which adds to the world's demand for oil. While it doesn't add much, there are millions of Li Xinrus out there.
We only see the final effects: A surge of oil exports going to China, India and other developing countries.
Supply: The problem is the earth. It is too small. It is unable to support all of us and no one wants to leave.
Our planet's natural resources will eventually decline to zero. And it may happen sooner than you think.
Take oil. Matthew Simmons' book, Twilight In The Desert, details why Saudi oil reserves are probably less than what they report. The extraction rate may also be too aggressive. It can cause wells to be permanently capped with as much as 60 per cent of the oil still in the ground.
How long until the last well runs dry is anyone's guess. No Opec nation has ever permitted an independent audit of its oil fields. It isn't just oil. All natural resources are being used up. It results in sky-high prices for oil, tin, zinc, palladium, nickel, iron ore, gold and natural gas.
Can anything save us? Ethanol - made from corn - is the leading substitute for oil. But now, scientists at Cornell University in the US have shown that ethanol production actually uses more energy than it creates.
It leaves us with no good long-run solutions. About all we can do is to ration what remains, with resources going to the highest bidder.
THE GOOD NEWS
The short-run offers more hope. Our strong dollar helps a lot to lower the price of imports, which holds down inflation. But you can do more: Set your own inflation rate in seven easy steps.
Step 1: Inflation is the increase in the consumer price index (CPI). It is a weighted average of 5,170 goods sold at 3,000 outlets in Singapore.
But watch out. It is only an average and Mark Twain has shown how averages can be misleading.
Each of us is unique so we can create our own personal inflation rate. To keep it low, buy only the cheap stuff.
For example, inflation ticks up when luxury watch prices rise. That inflation is easy to avoid: Simply leave the $10,000 watches for the rich tourists.
A $100 Casio keeps time as accurately as a Rolex costing 100 times more.
The same goes for holiday travel. Make day trips to Sentosa and save big.
Step 2: A home is a big part of our monthly budget. In fact, housing makes up 20 per cent of the CPI.
But if you already own a home, as do 90 per cent of Singaporeans, then inflation doesn't hurt.
In fact, it helps by increasing the value of your home, which is likely to be your biggest asset.
Step 3: Inflation boosts interest rates and that raises mortgage costs.
You can solve it by borrowing long-term now, while rates are low. The best deal is a 30-year HDB mortgage at 2.6 per cent interest.
Step 4: For lending, do the opposite. Don't get locked into investments that pay only 1 to 2 per cent. Inflation is going to push those rates much higher.
Especially avoid whole-life and endowment policies, including education policies. They lock you into guaranteed returns of only 1 or 2 per cent for up to 25 years.
Step 5: Go easy on unit trusts and stock investments. Studies show they do not perform well in periods of high inflation.
Step 6: In contrast, commodities and property do well in inflationary times.
Step 7: Money market funds are a safe investment. Best of all, they have no lock-in period. So the return will increase instantly when inflation pushes interest rates higher
This year, it will be about 2 per cent.
Last month, the Government forecast 2008 inflation to be 2 to 3 per cent. Now, the official forecast is 3.5 to 4.5 per cent.
What is going on? We haven't seen inflation this high since 1980 and 1981 when it hit 8.5 and 8.2 per cent.
The all-time record was back in 1973 and 1974 when prices rose 20 and 22 per cent.
For hyper-inflation, check out Zimbabwe, Africa. Its annual inflation rate is 9,000 per cent.
An expat there complained that the price he paid for his home 10 years ago will buy only one bunch of bananas today.
THE BAD NEWS
There are two reasons why inflation could come roaring back: demand and supply.
Demand: Li Xinru lives with his wife and son on a small farm in China. Last month, the family bought their first car.
Of course, the car uses petrol which adds to the world's demand for oil. While it doesn't add much, there are millions of Li Xinrus out there.
We only see the final effects: A surge of oil exports going to China, India and other developing countries.
Supply: The problem is the earth. It is too small. It is unable to support all of us and no one wants to leave.
Our planet's natural resources will eventually decline to zero. And it may happen sooner than you think.
Take oil. Matthew Simmons' book, Twilight In The Desert, details why Saudi oil reserves are probably less than what they report. The extraction rate may also be too aggressive. It can cause wells to be permanently capped with as much as 60 per cent of the oil still in the ground.
How long until the last well runs dry is anyone's guess. No Opec nation has ever permitted an independent audit of its oil fields. It isn't just oil. All natural resources are being used up. It results in sky-high prices for oil, tin, zinc, palladium, nickel, iron ore, gold and natural gas.
Can anything save us? Ethanol - made from corn - is the leading substitute for oil. But now, scientists at Cornell University in the US have shown that ethanol production actually uses more energy than it creates.
It leaves us with no good long-run solutions. About all we can do is to ration what remains, with resources going to the highest bidder.
THE GOOD NEWS
The short-run offers more hope. Our strong dollar helps a lot to lower the price of imports, which holds down inflation. But you can do more: Set your own inflation rate in seven easy steps.
Step 1: Inflation is the increase in the consumer price index (CPI). It is a weighted average of 5,170 goods sold at 3,000 outlets in Singapore.
But watch out. It is only an average and Mark Twain has shown how averages can be misleading.
Each of us is unique so we can create our own personal inflation rate. To keep it low, buy only the cheap stuff.
For example, inflation ticks up when luxury watch prices rise. That inflation is easy to avoid: Simply leave the $10,000 watches for the rich tourists.
A $100 Casio keeps time as accurately as a Rolex costing 100 times more.
The same goes for holiday travel. Make day trips to Sentosa and save big.
Step 2: A home is a big part of our monthly budget. In fact, housing makes up 20 per cent of the CPI.
But if you already own a home, as do 90 per cent of Singaporeans, then inflation doesn't hurt.
In fact, it helps by increasing the value of your home, which is likely to be your biggest asset.
Step 3: Inflation boosts interest rates and that raises mortgage costs.
You can solve it by borrowing long-term now, while rates are low. The best deal is a 30-year HDB mortgage at 2.6 per cent interest.
Step 4: For lending, do the opposite. Don't get locked into investments that pay only 1 to 2 per cent. Inflation is going to push those rates much higher.
Especially avoid whole-life and endowment policies, including education policies. They lock you into guaranteed returns of only 1 or 2 per cent for up to 25 years.
Step 5: Go easy on unit trusts and stock investments. Studies show they do not perform well in periods of high inflation.
Step 6: In contrast, commodities and property do well in inflationary times.
Step 7: Money market funds are a safe investment. Best of all, they have no lock-in period. So the return will increase instantly when inflation pushes interest rates higher
17 January 2008
The Conventional Views Critique
The Conventional views below are reviewed on another perspective:
1. Money Cannot Buy Time
How true this is? You can try asking this to anyone, the answer will be "Of course! Money cannot buy Time!"
First, we have to define the word 'time'. Time in this aspect should be futher breakdown as past time or present/future time.
Scenario:
Imagine we have the travel from location A to B. We have two alternative modes of transport: Taxi and Bus.
Both setting off at the same time from point A to B with other factors remain the same. Which mode of transport will fetch you there first?
The answer is Taxi. However, it comes with a price as it's more costly than taking a bus.
Financial Figures:
Cost of Taking A Bus: $1.00
Cost of Taking A Cab: $6.70
Differential: $6.70 - $1.00 = $5.70
Time Differential: 45 mins - 15 mins = 30mins
Cost per minute (differential) = $5.70/30 minutes = $0.19 per minute.
Cost per minute per person if 4(Max) persons takes a taxi = $6.70/ 4 / 15 minutes = $0.11 or approx. 11 cents per minute.
Cost per minute per person if 4 (Same as Taxi) persons takes a bus: $1.00 X 4 / 45 mins = $0.088 or approx 8.88 cents per minute
Differential: 11 cents - 8 cents = 3 cents per minute!
Interpretation:
A. We pay $5.70 more to gain future time of 30 extra minutes.
Therefore, "Money Cannot Buy Time" theory cannot hold. In a more precise definition should be as "Money Cannot Buy Past Time but Can Buy Present/Future Time.
1. Money Cannot Buy Time
How true this is? You can try asking this to anyone, the answer will be "Of course! Money cannot buy Time!"
First, we have to define the word 'time'. Time in this aspect should be futher breakdown as past time or present/future time.
Scenario:
Imagine we have the travel from location A to B. We have two alternative modes of transport: Taxi and Bus.
Both setting off at the same time from point A to B with other factors remain the same. Which mode of transport will fetch you there first?
The answer is Taxi. However, it comes with a price as it's more costly than taking a bus.
Financial Figures:
Cost of Taking A Bus: $1.00
Cost of Taking A Cab: $6.70
Differential: $6.70 - $1.00 = $5.70
Time Differential: 45 mins - 15 mins = 30mins
Cost per minute (differential) = $5.70/30 minutes = $0.19 per minute.
Cost per minute per person if 4(Max) persons takes a taxi = $6.70/ 4 / 15 minutes = $0.11 or approx. 11 cents per minute.
Cost per minute per person if 4 (Same as Taxi) persons takes a bus: $1.00 X 4 / 45 mins = $0.088 or approx 8.88 cents per minute
Differential: 11 cents - 8 cents = 3 cents per minute!
Interpretation:
A. We pay $5.70 more to gain future time of 30 extra minutes.
Therefore, "Money Cannot Buy Time" theory cannot hold. In a more precise definition should be as "Money Cannot Buy Past Time but Can Buy Present/Future Time.
11 January 2008
SNOW WHITE
I do recall some vivid incidents that have occurred in my childhood. When I was seven, starting off my studies in a school whose uniform clearly turns me off; all in whites! And one of the most distinctive class that I had was the story-telling session Imagine a beautiful lady reciting poems and stories, she will be our fairy god-mother! But sadly, it wasn’t. I can’t recollect her features but what I remembered was she was definitely not a fairy image. However, the stories that she related seems so alive, with her gesticulation and articulation. I enjoyed tremendously every session but I hate the reviews. We have to write a summary and character review after every session. There’s no free lunch in the world!
The conventional stories were like “SNOW WHITE”, “CINDERELLA”, etc. are so common (but at that time, these will simply amaze and excite us for the day)
First story “SNOW WHITE”, what’s your favourite character in the story? And that’s our homework!
The teacher started pinpointing us to stand up and express our views. My classmates said “SNOW WHITE”! Reasons like she’s beautiful, she’s kind, etc are cited. Finally, my turn came. I said “THE WITCH!” The class turns in a silent at once. I could hear classmates whispering around that I’m must be an evil person. The teacher was astounded and asked for my reasoning.
I said:"Teacher, without the witch in the story, there will be no story!" There will be no one to exemplify the good points of 'SNOW WHITE'. In the end, I was brought to a small room after class and my parents were brought into the picture too. My teacher was concerned about my physiological aspects of my development as a child and brought this to my parents’ attention.
Luckily, I survived till today in one piece.
The conventional stories were like “SNOW WHITE”, “CINDERELLA”, etc. are so common (but at that time, these will simply amaze and excite us for the day)
First story “SNOW WHITE”, what’s your favourite character in the story? And that’s our homework!
The teacher started pinpointing us to stand up and express our views. My classmates said “SNOW WHITE”! Reasons like she’s beautiful, she’s kind, etc are cited. Finally, my turn came. I said “THE WITCH!” The class turns in a silent at once. I could hear classmates whispering around that I’m must be an evil person. The teacher was astounded and asked for my reasoning.
I said:"Teacher, without the witch in the story, there will be no story!" There will be no one to exemplify the good points of 'SNOW WHITE'. In the end, I was brought to a small room after class and my parents were brought into the picture too. My teacher was concerned about my physiological aspects of my development as a child and brought this to my parents’ attention.
Luckily, I survived till today in one piece.
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