Millionaire Teacher

I won this book last year from a Channel News Asia (CNA) MoneyMind quiz, and the author autographed 'Live long, prosper and pass on what you learn!' on the inside, and I would like to 'pass on' what I was fortunate enough to learn.

We normally do not associate great wealth with the teaching profession, unless one is familiar with the recent article that claimed that our (Singapore) teachers are amongst the world highest paid. However, Andrew Hallam was not a well-paid teacher and yet he was able to amass great wealth.

According to Andrew Hallam, there are 9 simple rules of wealth that schools ought to teach us. Unfortunately, many of us enter and leave the education system without learning much about personal financial management, unless you belong to the group of fortunate students at the Canadian International School who have Andrew to educate them on these finer matters. 

So let us begin.

Rule #1: Spend like you want to grow rich

Many of us fail to recognise that the rich do not splurge. A very good example would be Warren Buffett. He is a simple man with very little paraphernalia of the rich. He owns a private jet company and yet does not own a private jet. And he still stays in his old humble house despite the amount of wealth he now has. 

Remember that you do not need a $5000 watch, it will tell the same time just like a $200 or $2 watch. 

Why appear rich when you are truly not? Be like the big carrot with little leaves. 

Source: http://life-lenses.com/

Limit your spending and invest. Warren Buffett advices that one should set aside what one wants to save and then spend. Most people simply spend first then save the remainder. 

Rule #2: Use the greatest investment ally you have

Leverage on compound interest and audit your spending habits. 

Compound interest is a powerful financial concept and we ought to use it wisely. Start saving early to reap the benefits. 

Most people fail to identify the wealth leaks in their habits and lifestyle. Maybe it could be the upsize of your meal, or the electricity bill (not switching off lights). Draft a budget for your expenses and do a personal financial audit. Identify the variance and fix your wealth leaks. 

Rule #3: Small percentages pack big punches

Most people want to win fast and win big but this is not possible. Unless you rig the game. Index fund supersedes stock market as no one can beat the stock market time after time. An indexed policy is one that earns small but is more consistent. 

Rule #4: Conquer the enemy in the mirror

We often think that we act rationally but the truth is far from it. It is typical human nature to give in to the immediate thought. People become greedy in a bullish market and fearful in a bearish market. They fail to remember the aged old trading mantra, buy low sell high. One ought to be greedy in a bearish market and be aware in a bullish market. Buy when everyone is selling cheap and sell when everyone is greedy. 

Rule #5: Build mountains of money with a responsible portfolio

Know the differences between shares and bonds, and invest in both. Go for a portfolio with more shares if one is young and has the appetite for some, and one with more bonds if one is old and wants to secure retirement. 

Rule #6: Sample a "Round-the-world" ticker to indexing

Invest in index funds from different countries. If you are a Singaporean, invest in Singapore, and also in other countries like United States of America. An example would be 35% Singapore stock market index, 30% International stock market index and 35% total bond market index. Do not be greed, average out your earnings by taking out earnings from your high yielding and investing into your poorer yielding. This will average out your earnings and maintain a more consistent growth. Go and open a Vanguard account. This is the ONLY WAY you can invest without getting ripped off. 

Rule #7: Peek inside a pilferer's playbook

Financial agents are making a business out of your ignorance. No one can beat the stock market time and time again. So why trust that your agent can? They can convince you using historical data but that does not secure the future performance. 

Rule #8: Avoid seduction

If it sounds too good to be true, it probably is. Many of us get tempted by the quick rich "opportunities" and they come in many shapes and sizes. Wake up from your fantasy and think critically. 

Rule #9: The 10% stock-picking solution...if you really can't help yourself.

If indexed funds are too boring for you and you can't stand the slow consistent growth. You can go with a 10% "gamble". But do it rationally; commit to the stocks you buy and understand their businesses. 

The book is a beacon of financial knowledge and it is impossible to cover all 9 rules in depth. I hope I have inspired you to read this book as I truly believe that it will change your life as it has with mine.

You may drop by Kinokuniya for a copy of this book. Also, visit Andrew's website for more on personal financial management. 

Othello – The Fall of a Warrior

Source: Othello, The Fall of a Warrior - In Tamil Facebook page

Othello

Ought to be More if Only Given Time to Mellow


I couldn’t have had more misfortune in a day. Leaving office early, I had planned my route out for a wonderful end to a busy work week. It was hence totally unforeseen that I would be lost. Following streetdirectory.com.sg, which I did to a T, I arrived at the ‘supposed’ destination – Goodman Arts Centre. ‘Supposed’, for I was in fact at cantonment link.

Having just 15 minutes to the show, my instincts told me I was doomed. I frantically flagged a cab hoping for a miracle. But soon figured I wasn’t exactly Cinderella and that wasn’t my pumpkin carriage. Unable to stomach the escalating cab fare and traffic congestion as a result of F1, I got off prematurely at Qlarke Quay and took the train to Mountbatten.

I was late by this time. Relentless to get there at least by 8pm, I took a deep breath, took off my heels and ran bare footed from the train station to the Black Box at Goodman Arts Centre.

I made it just as the clock turned 8 but by then, my mood had soured. “This better be worth it,” I remember telling myself then. I had without realising, already set a much higher expectation than I would otherwise. Of course, that is not to say that the expectation was unjustified for the cast was stellar and in every way capable.

I discretely made my way into the Black Box in the nick of time to see veteran Mr Re. Sommasundram’s guest appearance as Duke of Venice. Interestingly, despite being set in 16th century Venice, there was never a moment when I felt the translation to be strange. In adapting the feel of Othello to flow impeccably with Tamil literature, the director and scriptwriter have certainly gained my utmost respect. Also, this is by far a noteworthy testament to the accommodating nature of our rich language.

The costumes department too did an excellent job at recreating the characters in what was appropriately dark and dangerous. At the same time, I appreciate the thought that went into not making them overtly European. The balance also contributed to the palatability of the play’s Tamil adaption.

On retrospect, the minimalism on the sets and the continuity without any distinct acts too is laudable. It worked in favour of the play in building momentum as the plot unfolded; very wise indeed of the director, given the intimate setting of the Black Box as there can be no excuse for interrupting the pace of such a high-octane play.

The projection of subtitles however was absolutely distracting and dare I say almost sinful for even I who was able to quite effortlessly follow the dialogues, caught myself on numerous occasions reading off the projector missing out on the acting. What’s worse was that the subtitles were merciless in giving away the actors when lines were forgotten.

Which brings me to my next bugbear: Most actors were skilled enough to cover up when lines were forgotten but this does not take away from the fact that mistakes in fact happened. Even the smallest of hiccups where magnified when the flow of lengthy dialogues were disrupted.

And talking about dialogues, it still baffles me why the subtitles for Emilia referred to Desdemona as “sweet mistress” when the term “mistress” while addressing Desdemona as the lady of the house could also denote a “kept woman”, the very issue of debate at that juncture. Well, I’ll give it the benefit of the doubt.

That having been said, I was very impressed with the voice modulations and intensity that the actors projected. The energy and emotions evoked were phenomenal and they transcended my expectations in moments. The delivery of lines with extreme dramatization is in fact something that is more common to stage plays but my scepticism was proven wrong. Applying such stage play techniques to the Black Box setting too was surprisingly refreshing with the maniacal mannerisms of each character haunting me still. 

Source: Othello, The Fall of a Warrior - In Tamil Facebook page

Most notably, Kishore and Karthikeyan were mind blowing in their portrayal of Roderigo and Iago. Scenes such as that when Iago conspires to avenge Othello, and when he poisons the mind of Othello were brilliant. Each time the lightings turned red and Iago’s true nature surfaced, fear crept into me without fail – credits to the lightings team as well.

Although, I must say that I felt that the director tipped the scale in scenes of romance and sexuality with overtly cheesy sentiments and grandiose passion. Perhaps it would not have plagued my theatrical experience so much if a call was made on going ahead with the on-stage kiss or to conveniently leave it out; a tough judgement call for the director to make but nonetheless a very necessary one.

It had me thinking of the importance of realising that the audience too is evolving. More credit indeed needs to be given to them, and by that I refer specifically to the Indian community. Only then can the arts proliferate and become bolder instead of succumbing to the crippling effects of stereotypes and conservatism. In that sense, Othello the play could have definitely done with some learning from Othello the warrior.

Ultimately, this play stayed true to the original, embracing the beauty in one of William Shakespeare’s finest works. Yet, in being objective to review the production value of this adaptation, I inevitably had to strip it from the excellent storyline and script it leveraged on. Othello - The Fall of a Warrior might not have been a revelation but it was certainly a promising first attempt by the team.

The Think Big Entrepreneurs Convention 2013

Source: www.canon.com.sg 

The Think Big Entrepreneurs Convention 2013 that took place on the 17^th September saw a widespread assortment of attendees from different backgrounds and industries, all gathered with the uniting cause of furthering entrepreneurship. Most were representing their start-ups in the region or looking to set up a business in the near future.

 

The event began quarter past 9 and was close to full house. Canon was the supporting organisation and had and exhibition of its products outside the grand ballroom. The opening address was by Mr Lim Kok Hin, vice-president and COO of Canon.

 

He predominantly touched on the changing perspectives of employees in terms of their aspirations and motivations that drive their work, technology with respect to the shortened lifecycles of products, and customers who now understand and expect more. As such Mr Lim shared that he encourages employees to work less hours and achieve more by challenging them to complete their work an hour earlier and spend the time saved on their family or other interests.

 

He also shared his vision for his company which caters to these changing perspectives that he described. His vision is to bring in revenue of $750 million with 500 staff members. This translates to a 50% increase in productivity that he aims to achieve in 3 years. It is definitely heartening to see senior executives driving such a corporate culture and actively instilling it into their employees.

 

Following Mr Lim was Dr Loo Choon Yong, Co-Founder of Raffles Medical Group. He’s speech was of particular interest to me; Not just because I had prior experience working in his organisation but also because of his exceptional wittiness.  

He emphasized the need for lasting partnerships citing that with his long-time partner and friend Dr Alfred Loh. I liked that he also recognized and preached the need to professionalize the company by hiring and building people who were both good and right for the firm in order to succeed.

 

While admittedly hiring of the right talents remains a huge challenge for most start-ups, it is apt that Dr Loo brings this issue up as a rising proportion of recent graduates seek to propel their careers by starting off at a small firm where the scope for learning is wider. It is hence vital that start-ups too recognise this and tap on these resources.
 

In doing so, start-ups should also very importantly ensure that these graduate hires are rewarded appropriately within the means of the company as this will dictate the image and reputation of the start-up within the graduate community. Perhaps considering flexible work hours, work-from-home and profit sharing mechanisms could incentivise these graduates to join start-ups which may not be able to pay a competitive salary outright.

 



Source: http://www.stjobs.sg/career-resources/training-and-development/from-curry-puffs-to-croissants-back-to-curry/a/136840



Old Chang Kee’s chairman Mr Han Keen Juan who presented next, gave the perspective of a local venture describing his humble beginnings as a sales person. Quite interestingly, he had been a sales person to Canon as Mr Lim rightfully pointed out in his address. Mr Han’s presentation was comparatively brief but it did not disappoint in terms of entertainment value.

He highlighted some pertinent points of starting a business such as the need for SMEs to make use of government grants and subsidies. He for one, has received great support from Spring, WDA and EDB hence was able to provide insights into how best to approach these government organisations in order to gain their support.

 

More importantly, he shared not just of his success story but also of his failure in Croissant, the sister-chain he set up next to his existing Old Chang Kee outlets. Unpretentious and in great spirits, he was openly discussed what went wrong with Croissant and in that I was the mark of a great leader and entrepreneur.

 

Miss Gwendolyn Tan, a young entrepreneur spoke next on starting SGE, one of Asia’s oldest and largest online publications on start-ups and on crowd funding. She shared passionately of her experiences as an investor on crowdfunding platforms and also of the firms in which she invests in.

 

Haptex and Gravitylight were amongst the firms she talked about as she shared what she looks out for in a company when deciding to invest in it. She also went into the futuristic technology of 3D-printing that I found very intriguing.

 

Her speech would have indeed been very useful for new companies trying to raise capital by traditional or upcoming means such as crowdfunding which is in fact picking up steam in Singapore with local platforms like Crowdonomic.

 

Lastly, Mr Jacky Tai shared an interesting presentation on branding in this internet world often quoting from the array of books he has published. ‘Get a name! 10 rules to create a great brand name’, and ‘B2B: How a Business Becomes a Brand’ will certainly be worth a read.

 

The event was closed with a brief panel discussion moderated by Mr Mohan Belani, Co-founder and CEO of e27 as time had already been overshot substantially. I also had the opportunity to speak with Dr Loo and Miss Gwendolyn after the event and they were happy to take some of my questions. In all, it was a morning well spent and the insights gained were fresh and relatable.

 

The convention most certainly opened up my eyes to the intensity of entrepreneurial initiatives in Singapore and had me thinking on the related issues. I feel however, that unlike in silicon valley or other prominent entrepreneurial breeding ground, the purview of such initiatives in Singapore remains the niche of just a few within the community.

 

Hopefully with time, the likes of this convention will inform and draw the wider community into the realms of entrepreneurship where dreams can be made to come true. The country could definitely benefit from more local start-ups to rejuvenate the economy organically. It will also boost greater confidence and empowerment within its people.