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Tea with AK71: Money making.

Thursday, April 15, 2010

This might be the beginning of another series like "Replies from AK71".  This time, it is "Tea with AK71".  Imagine having tea with me one afternoon, realising much to your dismay what a talkative person I am, and listening to my thoughts on myriad issues.  Small talk, that's exactly what "Tea with AK71" is going to be about.  Another side of AK71?  For sure.  Darjeeling, anyone?

"Something I say more and more as I grow older is, "we can't make all the money in the world".  It is probably something that many others say too but how many actually appreciate the essence of this simple phrase?  When I miss a money making opportunity, I would shrug my shoulders and say, "what to do?".  I do not see any point in berating myself or even making a promise that it will not happen again because I am almost sure that it will happen again. 

Picture by Montwerx.

"I always say that chasing after perfection is like chasing after a rainbow.  We can keep running towards a rainbow but will we get closer to the rainbow? The rainbow is an optical phenomenon after all.  Pretty to look at but unreachable.  Don't be too hard on ourselves. 

"I make my money and others make theirs.  We have different paths and make our money our own ways.  We can share our methods and our experience but we would probably not have the same experience. This is natural and there's nothing wrong with it."


la papillion said...

Hi AK,

Chasing after perfection in an ultimately imperfect world is a sure recipe for a lifetime of disillusionment and discontentment :)

AK71 said...

Hi LP,

I could not have said it better myself. :)
It is just like the concept of utopia. Such a place does not and will not ever exist. ;)

Unknown said...

Hi AK,
I get to know you through one of your air interview regarding your success story in value investing(sorry, don't know by which media). Since then, I have been reading your blog now and then.

May I have a question for you regarding your investment methodology?

As a value investor, I am curious of how you react to the recent market down turn. Did you let go some of your investment? Or you just sit as ease? Don't you feel worry and start selling as you don't know how bad is the down turn?

Hope to hear from you soon.


AK71 said...

Hi Jditan,

I only granted one interview so far. So, I know which one you are referring too. ;)

Before that interview got underway, I actually told Adam (the interviewer) not to refer to me as a value investor because I am really a hybrid investor. I don't always adhere to all the guidelines of value investing.

So, I don't know how to answer your question on how the value investor in me reacted to the recent market down turn. ;)

I will tell you that the down turn didn't affect me emotionally or financially. My life goes on as usual because my investments are chugging along as usual. Nothing has changed.

As I am primarily invested for income, as far as I am concerned, an important question to ask is whether my investments would still be generating the income that they have been generating for me thus far. The answer seems to be affirmative.

However, this does not mean that I am not contemplating change. The only constant in life is change and as circumstances change, my investments might no longer be the best match for my motivations for being invested. Then, it is time to make adjustments.

Know our motivations for being invested. Have a plan to match those motivations. Tweak the plan if required. Otherwise, maintain the status quo.

I certainly don't know how bad down turns are going to be. However, I always maintain a war chest to take advantage of undervalued offers from Mr. Market. So, down turns are not a bad thing. ;)

Wayne said...

In earlier this year my wife and I bought our first resale HDB, as we are entering our 30s, we want to upgrade to condo in 5 -7 years time. So we rented out 2 bedrooms and its generating about $3k per month. till now with the deposit we collected, we have about $15k sitting in the bank and we want the money to grow as fast as it can in a safe way for our next house down payment.
Any suggestions do you have for us to invest this money for a short term of 5 -7 years?

AK71 said...

Hi Wayne,

I got a nice surprise seeing a comment in one of my "Tea with AK" blog posts.

Been a really long time since anyone said anything here.

Even the font size is smaller. O_O

Hmm, I am not allowed to give advice and I don't want to. ;p

Still, it is conventional wisdom that if it is money we will need in the near future, we shouldn't be too adventurous with it.

So, risk free, volatility free is probably the way to go.

I don't know if you have seen this video:
Do you want guaranteed returns?

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