Invest X Congress: Q&A.

A feedback which I received from readers is that they wished I had given them some Q&A time after my presentation. I ran out of time and I think I took some of Rusmin's time too. My bad.


Courtesy of Audrey S. who had one of the front row seats.

Well, good thing I have a blog, right? I received quite a few emails, comments and PMs from old and new readers (mostly old as I think the new ones are still too shy) after the event and you might want to think of this blog post as the Q&A session that we didn't have time for at the event:

Q1. On the importance of an emergency fund.

A1. I said that it is important to have an emergency fund that will cover at least a year or two of living expenses and that if people who were at the event didn't have an emergency fund, they should go home and build an emergency fund first and not be investing now. If the economy should go into a recession, chances are the stock market would see prices tumbling too.

Now, imagine if we should be jobless but did not have an emergency fund. We might be forced to liquidate our investments at low prices. Not a pretty picture, is it? This is especially so when that should be the time to pick up good bargains offered by Mr. Market. It would be quite depressing.

Have an emergency fund and also a war chest. Two different funds. Not to be confused with each other.

Q2. On tipping AK.

A2. In the early days, I used to have a tip button in my blog. I installed it after seeing some bloggers having one in their blogs. I removed it after receiving that $100 tip I spoke about at the event. I don't want to feel obligated to anyone to provide advice because I receive tips from them.

I am not allowed to give advice, anyway. So, that was when I started saying I am only talking to myself in my blog. People who eavesdrop do so at their own risk. ;p

Q3. On income producing assets.

A3. Stocks, bonds and real estate. Actually, there are some very interesting assets which people invest in for income. I read that people actually invest in parking lots as well as taxis in Hong Kong to generate passive income, for examples. We can also find business trusts in Singapore which invest in assets such as infrastructure, ships, ports and cable television network.

No matter what assets we decide to invest in, if it should be for income, we want to be clear that the income is generated by the assets and we want to be sure that income distributions are sustainable. The time period could vary. The reason why I sold my investment in PCRT was because I decided that the income distributions were unsustainable.

Q4. On pyramids and percentages.

A4. I spent quite a bit of time talking about the graphic that looked like a pyramid because I felt that it is something important that income investors like myself should have in mind. Being able to compartmentalise investments is helpful in guiding our behaviour towards each investment, actual or potential. The question which I have been asked has to do with percentages since I mentioned that I would not have more than 2 or 3% of my money at the top of the pyramid which represents "aggressive" or "speculative" positions. So, what about the other layers in the pyramid? What are the percentages? I would say that it depends on the individual and his motivations.

Like I said during my presentation, if he is more of a speculator, then, the graphic for him could be an inverted pyramid. For someone who is more into growth stocks but who still believe in having plenty of cash to take advantage of opportunities, then, his graphic could look like an hourglass. Remember the population pyramids we learned in Geography classes in secondary school? You get the idea.

Q5. On Marco Polo Marine.

A5. I had an investment thesis. A sound one too, I believe. If all things had remained the same, the thesis would still be valid today. Of course, things changed over time and with only a schizophrenic bowling ball, I was not able to see the changes before they happened.

For anything positive that has a greater degree of predictability or certainty, I would allow a greater exposure to it in my portfolio. If there is a stronger element of uncertainty, then, I would trim my exposure. It is one way I manage risk. So, this was why I moved my investment in Marco Polo Marine from the "growth and income" section of my pyramid upwards to the narrower "growth" section. We could even suggest that it has a speculative element with its purchase of a jack up rig scheduled for delivery in December 2015. So, logically, it had to become a smaller investment for me.

Q6. On Starbucks, Bangkok and bras.

A6. I was told by a female reader who flashed the "V" sign at me that she was not flashing a victory sign at all. I misunderstood her. She was trying to tell me that I made an inappropriate comment about saving money. Which comment was that?

I made a joke about using money saved from not buying Starbucks coffee to fly to Bangkok to buy cheap and good bras. To all the ladies who were wounded by this joke which was apparently in very bad taste, my most sincere apology.

You can tell that I am truly remorseful because I have not sent out an email to the media stating that I had sacrificed myself to raise awareness of how we could save money and how ladies could use the money saved to buy cheap bras in Bangkok to save more money. Sounds Royt? ;p

Q7. On CMT.

A7. CMT is very well run. There is no question about it. At $1.97 per unit, we are looking at an annualised yield of 5.2%. It is also trading at a premium of 15% to its NAV of $1.71. "I would sooner buy a great business at a fair price than a fair business at a great price." Warren Buffett. To me, buying REITs is almost like buying real estate. I won't want to pay more than the NAV. At NAV, perhaps, it would be good to get some, everything else remaining the same.

Finally, if you went for the event and if you want to find out about the stuff that I could have shared if I had more time, contact me to ask for my presentation slides. I will tell you how to get the slides. Then, use the slides as a guide and search for the relevant blog posts in my blog. It will probably be similar to reading an e-book but with a bit more work required on your part. ;p

More Q&A found in the comments section of this related post: Invest X Congress: Closing thoughts.

Invest X Congress: Closing thoughts and photos.

My opinion? I think I could have done better.

After my maiden attempt, I feel that I am a better blogger than I am a public speaker. I think there were many things that I missed out on delivering but I guess it worked out in the end because I went overtime even though I truncated my presentation.


Courtesy of Song Stonecold. Read his guest blog: here.

However, I take comfort in the fact that my blog is available for reading twenty four seven. So, if anyone in the audience would like to follow up on what I said during my segment at the event, they could do so anytime they like. Remember though, I am only talking to myself here in my blog. Also, don't take what I say as the gospel truth.

If I offended anyone at the event, please accept my apologies. Sometimes, jokes have a way of being misunderstood, especially when we cannot read the facial expressions of the speaker. My fault. I mean how could you have read my facial expressions? Oh, a very big "sorry" to the video guy. I waved him away and hit his camera on the way in. Lucky the video cam wasn't damaged. -.-"

If I disappointed anyone, I crave your indulgence. I promise to try to do better in future (if I do actually do something like this again). To people who sent me photos of male Korean actors imagining I look like them, I am afraid I won't be able to do better. Plastic surgery is painful in more ways than one. -.-"

A big "thank you" to everyone who turned up at the event and also a big "thank you" to everyone who could not attend but gave me encouragement anyway. I appreciate the kindness.

Also, the organisers passed me a bag of books which they said a reader wanted to give to me:

I don't know who you are but thank you for the kind gesture. I really appreciate it. Now, to brush up on my Chinese. I only got a B3 for my "O" Level Chinese. -.-"

The journey towards financial freedom is made less dreary when we have good company. :)

Related post:
Invest X Congress: Update and reminder.

New:
Invest X Congress: Q&A.

Invest X Congress: Update and reminder.

I was informed that the tickets to the event are sold out. All 400 tickets sold.

To those who managed to get a ticket, please don't forget our appointment. See you soon.

Related post:
AK's first public appearance.

Invest X Congress: AK's ticket is up for grabs.

I was just informed by the organisers that I have a complimentary ticket to Invest X Congress which is happening on 14 June (Saturday) and that I could give it away to anyone I want since I won't be in the audience. I could give it away to a lucky reader too, of course.

However, I thought about it for a while and I think it won't be fair to readers who bought tickets to the event if I were to give my ticket away for free. So, to be fair, this is what I have decided to do:

Hmmmm....

The early bird offer of $79.00 a ticket to the event has ended. However, if anyone is interested in attending the event and who has yet to buy a ticket could make a bid for my ticket. Minimum bid is $79.00. Just leave a comment here in my blog with your bid. The highest bid will get the ticket. (Er, please remember that the regular price is $99.00 a ticket. Don't go overboard.)

Depending on the response, I could close the bidding process really quickly or let it run for a week.

The money from the sale of this ticket will be donated to a charity of my choice and I shall furnish proof of this donation at a later date. This is in line with one of the objectives of the event and that is to be charitable.

Thank you and I look forward to seeing you at the event. Cheong ah!

Related posts:
1. Invest X Congress 2014.
2. AK is feeling excited about 14 June 14.

AK is feeling excited about 14 June 2014.

This is a quick reminder about the early bird offer for the event at which AK will be appearing as a guest speaker. Honestly, this is going to be my first public appearance and I am feeling a bit excited.

Anyway, I was just informed that 2 more speakers, both with backgrounds as analysts, will also be at the event. There will either be Q&A sessions after each segment or one at the end of the day. Of course, Q&A sessions are always good opportunities to pick some brains.

A priceless gift from a reader's niece.

The organisers have also confirmed that the charity which the event will be supporting is the one I have suggested, Singapore Children's Society. That makes me happy.

A big "thank you" to everyone who has bought tickets or who will be buying tickets to attend the event. Thank you and see you on 14 June 2014.

The last day to buy tickets at the early bird price is this Tuesday.

Buy your tickets: here.

Related post:
AK's first public appearance.

Asia Invest Symposium by ShareInvestor.

Are you free on the 31st of May (Saturday) from 9am to 1.30pm? If you are, you might want to go listen to Mr. Roger Montgomery, a famous value investor, who will speak for 2 hours at an event organised by ShareInvestor.

He will share his knowledge and experience and cover topics like the following:

- Strategies to Spot High Quality Businesses to Improve your Returns on Stocks.

- How to Buy the Best Stocks for Less Than they're worth?

I know for a fact that it is not cheap to bring in big names like him. So, when I was approached to help spread the word about the event, I was surprised that tickets are priced at only $9.90 for one and $14.80 for a pair.

For those who also do some trading, you will also be interested to know that there is another speaker at the event, Mr. Stuart McPhee.

He will cover topics like the following:

- Trading Strategies in the Stock Indices & Commodities Market.

- How To Identify High Probability Patterns when Trading Forex?

With tickets priced at $9.90 each, I was somewhat worried but I have been assured by the organiser that "there will be no selling or backend products throughout the event."

However, Oanda will be promoting their platform during the event and if you should open an account with them, you will get a book by either Stuart or Roger for free!

I love getting value for money and, in my opinion, this is a value for money event! If you would like to find out more or buy tickets, follow this link: Asia Invest Symposium.

Wishing everyone a happy Sunday!

InvestX Congress 2014: AK's first public appearance.

By now, many probably know that I have agreed to be a guest speaker at a one day investment education event that is happening on 14 June 2014 (Saturday) in Suntec City. It is an event that is organised by a bunch of friends who formed a company called "The Fifth Person".

These same friends organised an event which I blogged about earlier and a guest blogger, Solace, did a review of it. I think it is safe to say that Solace was impressed. Well, the event on 14 June 2014 will likely be more impressive.

I know my friends managed to get a couple of industry professionals to be guest speakers as well. So, apart from what you see in the marketing material, you are likely to get some bonuses on the day of the event.

Price of ticket? $99 per person. However, early birds pay $79 per person. This special offer is good till 21 May 2014.

Now, I know that probably quite a few readers will want to go to the event because I am going to be a guest speaker. If that is your motivation for going to the event, please consider not going. Why? The reason is quite simple.

I won't be saying anything you have not heard me said in my blog for the last 4 and a half years. I would be surprised if you have not grown tired of me repeating myself once every so often.

I will, however, tell you why you should go to the event.

You should go to the event to listen to Victor Chng and Rusmin Ang, two brilliant young minds. Those stocks listed in the marketing material are not just stocks that they picked out to show how well we could have done on hindsight. They actually invested in those stocks after doing thorough due diligence earlier on and if you were to listen to them, you would be impressed and, more importantly, enlightened.

You should go to the event to listen to industry professionals. I cannot reveal too much at this point but I think it will be a fun and rewarding experience no matter your level of accomplishment as an investor. Ok, to be fair, I feel that if you are already a very accomplished investor, you might find the event dull at times (mostly during AK's segment).

Finally, you want to go to the event to help raise funds for charity. Yes, a meaningful percentage of the proceeds will go to a charity. My friends know that I have a soft spot for Singapore Children Society and I hope that the donation will go to the charity of my choice. (I am being sneaky because the recipient has not been decided yet. Hey, guys! I win!)

I believe that this is going to be a value for money event. So, if you have the time and $79 to spare, block the 14th of June and reserve your place. It is not a big event like the one I blogged about earlier this year in Kallang Theatre which sat 1,200 people. For this event, there are only 400 seats available. So, if you decide that you want to attend, don't wait too long to get your ticket.

Get your early bird ticket at: InvestX Congress 2014.

Now, I will have to decide on a disguise.

P.S. Supporting this event could indirectly raise the profile of Suntec City Convention Centre which could benefit Suntec REIT. This could benefit the writer who has been a Suntec REIT shareholder since 2009. OK, now, you have been warned.

Related post:
Tea with Solace: A review.

Saturday with Victor Chng: Becoming a better investor.

In case you missed the blog post on what is happening this Saturday morning, a friend of mine, Victor Chng, is going to share his views on an unloved sector of the economy and how we could potentially make quite a bit of money by capitalising on this.

So, if you are interested in Victor's analysis and if you are free this Saturday, get your tickets at:

Level Up Life Series.

Price: S$9.00 per ticket.
Bring a friend and pay S$15.00 for a pair.
If you are a student, show your matriculation card at the door and you go in for free.

If you want to bring it a step further at the end of the half day event, ask Victor about the discussion forum he is organising. That will be another value for money learning experience.

I try to be a better investor by listening to better investors. I believe that Victor is a better investor than I am.

The book Victor wrote with Rusmin Ang.

Related post:
Saturday morning with Victor Chng: Level up..

Saturday morning with Victor Chng: Level Up!

My blog about how AK feels like Bilbo Baggins might still be quite fresh on your mind. In case you are wondering, I am still meditating on the issue and wondering what kind of disguise would work.

While I am still meditating, the boat has to leave without me. Well, it can't be helped, I guess. There is always another boat and, maybe, by then, I would have made up my mind.

However, quite honestly, I didn't know about this particular boat until 2 nights ago.

Well, at least, I can help spread the word about this event which is happening very soon:

Venue:	SPH News Centre, Auditorium 1000 Toa Payoh North Singapore 318994
Date:	15 March 2014, Saturday
Time:	9:00am - 1:00pm (Registration starts 8:30am.)

It is just slightly more than a week away. Rather short notice.

Hear from one of the brilliant analytical minds I mentioned somewhere in my blog's comments section before. I spoke with him at length again recently and I was really impressed. His name is Victor Chng and he will share with you his insights on what is currently unloved by Mr. Market.

Click to enlarge.

Someone else whom you might learn something from is Chris Chan. I learned quite a few things from him about insurance in his presentations before. Get the right kind of insurance at the right prices. Although I have taken his advice to heart, I have yet to defrag my insurance policies. Maybe, one day, I will have a chat with Chris.

I was told that there are only about 200 tickets available for sale. So, if you want to attend the event, you have to be fast.

Oh, I haven't told you the ticket prices:

$9.00 for one ticket.

Bring a friend and you pay only $15.00 for two tickets.

Here is the link: Level Up Life Series.

If you are a student, just show up at the venue and flash your matriculation card. Why? You get to go in for free! This is the promise my friends made. So, go early and get your free seat!

Remember, go with an open mind and I think there will be plenty of useful knowledge to take away.

If you do not think you need more guidance or the services offered, don't sign up for anything. This is the same thing I said about attending Value Investing Summit in 2013 and 2014.

However, if you feel that you need more guidance or if you feel that you do not have time to do due diligence, then, consider signing up with Victor for his discussion forum!

The forum will not cost you thousands of dollars. It will not cost you one thousand dollars. It will not even cost you half a thousand dollars.

Victor has put a lot of thought into the design of the discussion forum and I believe that it will be truly value for money.

My friends are taking baby steps to fulfil their vision of promoting financial literacy without charging high prices and to channel a percentage of their earnings towards charitable causes at the same time.

If you have the time and a few dollars to spare, spend a Saturday morning with Victor Chng and see for yourself this young man in action (and you will know if AK had postage stamps over his eyes).

Related post:
AK feels like Bilbo Baggins.

Win a car in the Phillip-Macquarie Warrant Challenge!

Regular readers know that I won a car many years ago. Quite lucky, that. I always say that luck plays a part in the grand scheme of things. This is true in our efforts as investors too.

Now, there is a chance that you could win a car and unlike lucky draws at NTUC Fairprice, Harvey Norman or Courts, for examples, I suspect that there will be less participants in this lucky draw and your chances of winning are higher! Why?

This car is the grand prize in the Phillip-Macquarie Warrant Challenge and I don't think this is something that will have a big following of "shoppers". So, chances of winning are higher, I surmised.

You know what is the best thing about this Challenge? You don't have to use any real money!

If you have some experience trading warrants before, you possibly have an advantage over the rest. However, if you have no experience at all, you won't lose any real money anyway.

Like they say:

"It’s the perfect way to get started if you’ve never traded warrants before but always wanted to, and you stand to win your share of the $30,000 in cash prizes. Overall prize winners will also be entered into Phillip Capital’s Grand Lucky Draw to win a Mazda 6 worth S$90,000*"
*Terms and conditions apply.

To learn more or to take part now, go to:
Phillip-Macquarie Warrant Challenge!

Have fun and good luck! Hope one of my readers win! Huat ah!

Eco Music Challenge : Vote for your Favourites!

Organised by the National Environment Agency, the contest inspires talented musicians to protect and care for the environment through music. 

Give your favourite song / singer some support by voting for them!

Show your support and vote! Details at:
http://sg.sharings.cc/AK71SG/share/neaecomusic

"Every small action contributes to reducing our energy footprint. Follow the 3Rs (Reduce, Reuse, Recycle) to bring down our overall energy use."

Win a GUESS watch and a $200 voucher!

I like sharing good deals. I like it when we get a chance to win something too!

3 lucky winners will walk away with any GUESS watch they like. Also, sign up on the GUESS Watches mailing list and stand to win a GUESS Watches Voucher worth $200.

For all the details:
http://sg.sharings.cc/AK71SG/share/GUESSwatchcontest

$25,000 worth of prizes from M1.

M1 has always been about making sure that each customer gets what he or she deserves.

This year, M1 took another step forward, listening to what each and every customer wants, and giving them exactly what they need.

M1 For Every One!

You could win S$25,000 worth of prizes. Details:
http://sg.sharings.cc/AK71SG/share/M14G

Enjoy $30 discount on GUESS denim purchases!

Where? GUESS Paragon and GUESS Taka store!

When? 17th August between 12-4pm!

Need a new pair of Jeans? So, get ready to find the perfect pair of denim this Saturday!

For all the details, go to:
http://sg.sharings.cc/AK71SG/share/GUESSDenim

A fan of ABSOLUT Vodka?

My younger sister is a fan of ABSOLUT Vodka. No, she doesn't get drunk drinking it. She gets drunk collecting the different bottles! On a few trips overseas, I was tasked to buy the latest design for her.

I think she will enjoy ABSOLUT Canvas.

This is an exhibition at the National Museum of Singapore and is one of the highlights of this year’s Singapore Night Festival. It features ABSOLUT bottles that have never been seen in Singapore before!

With close to a hundred bottles on display, visitors will get a chance to view rare and limited editions of ABSOLUT VODKA separated into six different themed showcases – the CITY Edition, TRAVELLER’S Edition, DISPLAY Edition, VODKA INNOVATION Edition, LIMITED Edition and RARE BOTTLES Edition.

If you are a fan, you cannot miss this:
http://sg.sharings.cc/AK71SG/share/AbsolutCanvas

SIM GE Open House 2013

Learn how SIM Global Education (SIM GE) equips you for success, with Diploma, Bachelor’s and Master’s Degrees.

Partnering 12 international universities that include the University of London, University of Manchester and University of Birmingham, SIM GE offers more than 50 full-time and part-time programmes.

Breakfast Network for Parents
An event to help parents who want to learn how to guide their child in making an informed education choice. An experienced career coach will share tips and an alumna will also share her education experience in SIM.

Attend programme briefings, scholarship talks and mock lectures to find out more:
http://sg.sharings.cc/AK71SG/share/SIMGE13

Where to go for this long weekend?

This is not just a LWE, it is a super LWE!

Many have taken the opportunity to go on a short holiday while many more are staying in Singapore because we are patriotic and want to celebrate National Day. No, this is not the reason why you are staying in Singapore? Oops.

Well, if you are thinking of where to go, there is a new ‘one-stop’ food enclave in Singapore! Yes, eating is one of Singapore's national pastimes, isn't it?

The Dining Edition boasts an impressive 50,000 sq ft of dining area!

Where is this place? At Marina Square!

I think most of my blog's readers are Singaporeans but just in case a foreigner is reading this, Marina Square is accessible by both City Hall and Esplanade MRT stations.

You might also get lucky:

Find out more about The Dining Edition at:
http://sg.sharings.cc/AK71SG/share/TheDiningEdition

Response from AK71 (to accusations) regarding "the" seminar.

I really didn't want to talk about this anymore. Unfortunately, it has come to my attention that I am being accused of withholding information regarding my fee for helping to promote "the" seminar due to some ulterior motive.

I don't see why this should be material at all as what should be material was already revealed in this paragraph in an earlier blog post here:

"To be fair to myself and other advertisers in my blog, I told him that I can help him spread the word but there would be a one time advertising fee. He said that he was only helping the organiser of the event and had to check with the organiser. He came back to say that the organiser offered to pay me for every ticket I sold in my blog and to make it more attractive, my readers will get a discount off the official price of $64 per ticket. A "discount code" or "promotion code" was created for this purpose."

Now, did I hide the fact that I was going to be compensated for my efforts? Anyway, since how much I was going to be paid for helping to promote the event seems to be important although the reason escapes me why it should be, I will reveal it as there is no reason to hide (as much as there was no reason to reveal).

Here are the emails, starting from the first email I received from SC, after I replied to his comment in a blog post that I cannot allow free advertisement in my blog. This was when a seminar ticket was advised to be at $57.00 a piece:

Dear AK,

 

I've checked with the organizer and they are definitely paying you a fee for helping them to advertise.

 

Ticket is at $57 per pax.

For every referral from you that sign up for the seminar, you get $6 (more than 10%) if they pay via internet banking.

If the referral pay via EventBrite, then it is $4, as admin cost like eventbrite and paypal takes up a significant portion.

 

So basically, all the cost of paying eventbrite and paypal, goes directly to you as well.

 

Is this ok with you?

 

Event is held at:

 

Nexus Auditorium
5 Koek Road #05-07 S(228796)
Cuppage Plaza (near Somerset MRT Exit B)
Singapore 228796

 

Monday, 19Aug 2013

Time: 7-10pm

 

Let me know.

 

Thanks,

Swee Chye

As I preferred the simplicity of having a one time fee, I replied:

Hi Swee Chye,

Thanks for this. :)

I would like to propose a more straightforward method.

For Value Investing Summit, the organisers told me my blog referred almost 70 participants in January 2013. Of course, since then, I think my blog's readership has grown if you saw my most recent blog stats which I blogged about.

So, I would like to offer a big rectangle banner space (300x250) on the top of my right sidebar for S$400.00. This will run to 18 August.

If the organisers accept this, please deposit the money into my POSB savings account 093-44286-5. They will have to provide me with the HTML code for the banner ad which links to their website too, of course.

As a bonus, I will also compose a short advertorial on the event. This will usually enhance the effectiveness of the campaign.

I hope to hear from you again soon. :)

Best wishes,
AK

A counter proposal was made by the organiser where the commission offered was raised from S$4.00 - $6.00 to $27.00 a ticket! Mind boggling:

Dear AK,

 

Thanks for the quick response.

 

I've checked with the organizer, and they are counter proposing to create a special link for the payment just for you, if you can promote for them, with the number of tickets shown online for that link.

 

The link will have the number of tickets at the start, and it will decrease as tickets are bought in order for you to know how many tickets are sold from your referral.

 

For every tickets sold, you will get $27, so selling only $15 (sic) tickets will net you $405.

So the more tickets that are sold via your referral link, the more you get paid.

 

Is this a fair deal for you?

 

Let me know, so that the organizer can do the necessary link for you.

 

Cheers,

Swee Chye

 

PS: On a personal note, do continue writing your interesting articles in your blog, as from time to time, I do visit it when I am able to have some time. :D

I thought this over for quite a while because it was quite an attractive offer and I was also somewhat surprised at their generosity but I still preferred the simplicity of a one time fee. So, I wrote:

Hi Swee Chye,

Advertising income is nice to have as pocket money but being the fastidious person I am, I know I will be checking on the ticket sales daily. Yikes. I want to avoid that. This is why I proposed a straightforward upfront one time payment. My blog could end up selling 100 tickets and it wouldn't matter to me. :)

I got to know someone who blogs for a living in the USA and he told me that with the traffic I have now, I should charge US$150 a month for a 125x125 button. Example: "TheFinance" in my left sidebar. So, I believe that S$400 for the proposed 300x250 banner is inexpensive.

Please tell the organiser that I appreciate their offer which is very generous. It is more than fair because I am sure I will end up making more money with their method but this would be important to me if my primary motivation for blogging is for money. ;p

Well, if they don't need me to write an advertorial in support of the banner ad, I could lower the price, I guess. However, I can say from experience that an advertorial helps. :)

Best wishes,
AK

Then, I received a reply from SC which I guess shows that he is more knowledgeable about internet marketing than I am:

Dear AK,

 

I've spoken to the organizer, and they are more interested in actual ticket sales, and that is why they made that proposal to you.

 

Of course, any advertorial in support of the banner ad is most welcome, but they cannot track nor have any means to know the actual conversion rate simply from putting up a banner and a blog post.

 

Getting lots of traffic is definitely good and no doubt about it, but it is the actual conversion and sales that is what any advertisers are most interested in.

 

I believe Bloggers and Internet Marketers wants lots of traffic, but their source of income comes from actual sales, ppc, ppv etc 

 

Let me know if you are willing to help the organizer on the actual sales.

 

Cheers,

Swee Chye 

OK, at that point, I really should have just ended it and I would have avoided this entire nightmare. Unfortunately, much to my regret, I gave in:

Hi Swee Chye,

Yes, I quite understand their concerns. Must make sure that their advertising dollar is well spent.

I have given this more thought and have decided to accept the organiser's proposed special arrangement just for me. I could end up making more money. ;p

I will wait for the HTML code and instructions. Thanks. :)

Best wishes,
AK

This was followed by an email from SC in which the official price of a ticket, for the first time, was stated as $64.00:

Hi AK,

 

Here are the details for you to promote the event.

 

The event link:

ttp://www.eventbrite.sg/event/7661797643/

 

You are free to write as creatively as you can, and can use the link information for your write up.

You will notice there are 200 tickets for sale for this special link, and it is displayed visibly.

So every sale for this link will decrease the count by one, so the tracking of each ticket is visible to all.

 

You have a promotional code for all your referrals and subscribers to pay for the event if they are interested.

 

The promotional code is AK71-MSOI

This gives those interested to sign up at least 10% discount from the official price of $64.

 

Some pictures and banner you can use:

 --- (AK71 deleted the link)

 --- (AK71 deleted the link)
 

A picture for your banner in your website as attached.

 

Let me know if you have any other questions or need any other information for your promotion of the event.

 

I thank you on behalf of the organizer and hopefully it will be a successful campaign.

 

Cheers,

Swee Chye 

I took a screen capture to show that I did not make this up:

Click to enlarge.

Then, there were a few more emails on how to set up the ads which I am pretty sure there is no need to reveal, well, just like the above emails really.

Is the fee negotiation process an important part of the revelations? I don't think so. What was material was how certain details were left out in the negotiation process which led me to making a badly informed decision. These details which were left out were pointed out to me by readers of my blog! (You know who you are. Thank you.)

I would have insisted on early bird prices of $30.00 a ticket and $57.00 for three tickets if I was told they existed when they first approached me. Of course, with the publication of my blog posts on the matter, the organisers have stopped the early bird prices. The price is now $57.00 a ticket.

I would have insisted that the official price be stated as $57.00 if I had known that it was being marketed as such in another local finance blog. Instead, I was made to think that the official price was $64.00 and that to buy at $57.00, my readers must use a "discount code". The regular price of $57.00 over at kiasuparents.com's forum now supports my point that $64.00 is not and was never the "official" price.

Have I knowingly left out any details which might skew readers' perception of the organisers of the event? No and I have no need to lie.

One only has to think logically as to what AK71 has to gain from lying about anything. Why would I put in work to promote an event just to tear it down? I gain nothing from it. As another blogger, SMOL, said, I could have simply shrugged it off and put it down to "willing buyer, willing seller". I could have been absolutely nonchalant.

Everything I know, my readers know. Anything else that people say I should know and that I chose not to share with my readers now, well, they are entitled to their beliefs. I don't need to fabricate anything. I don't go around making baseless accusations as a pastime. Regular readers will know that is definitely not in my character. I say it as it is.

If people have been totally honest and fair from the onset, laying down all their cards on the table for me to see, would this have happened? Would there be any need for damage control? No, there wouldn't be any damage in the first instance!

For people who still think that I am blogging because of the money I get out of it, well, I can say with confidence that I won't miss the income but I WILL miss blogging.

In a reply to SC above, I said:

"Please tell the organiser that I appreciate their offer which is very generous. It is more than fair because I am sure I will end up making more money with their method but this would be important to me if my primary motivation for blogging is for money. ;p"

In another reply to SC which I shared in an earlier blog post, I said as much:

"You might know this but the organiser might not: I am not a blogger who is blogging for money. I care about my blog's reputation more than anything else."

I will stop here or else some people might accuse me of having ulterior motives (again).

Related posts:
1. I will not attend Multiple Streams of Income Seminar.
2. Multiple Streams of Income closed early bird prices.

Multiple Streams of Income Seminar closed early bird prices.

"However, when a reader showed me that the forum at kiasuparents.com is selling the tickets at only $30.00 each and that $57.00 could get three tickets, I was really upset."

I should have done a screen capture of the kiasuparents.com ticketing site at eventbee last night. It now looks like this:

Click to enlarge.

Anyway, I have enough readers and bloggers who clicked on the link yesterday to confirm that the early bird offer was still on then.

This was the last entry made by SC in the forum at kiasuparents.com on 27 July 2013:

Click to enlarge.

When I was approached by SC on 29 July 2013, the early bird offer was, without question, still available but he didn't tell me. When I published my blog post on 30 July 2013, the early bird offer was still available but he didn't tell me.

On 31 July, the early bird offer was still available when a reader alerted me to the site and I even clicked on the eventbee link to see for myself. I sent an email (amongst others) on that very night to SC regarding this matter and got no reply.

The early bird offer was stated as "Available from Jun 11 to Aug 19..." just like what we see for the VVIP ticket. Now, it is suddenly gone after my blog post this morning. Yes, the early bird offer has closed. What is the ticket price now?

S$57.00. No discount code required.

There is no denying that the early bird offer was still available when SC approached me. There is no denying that the early bird offer was still available when my first blog post on the seminar was published. I even corresponded with SC about the blog post that night.

By not providing this vital information to me, I made a terribly flawed decision.

Related post:
I will not attend Multiple Streams of Income seminar.

I will not attend Multiple Streams of Income Seminar.

After sending out multiple emails, I have not received any reply from the organisers of Multiple Streams of Income seminar by Robert G. Allen. I have, therefore, concluded that they are ignoring me and are not going to do the right thing as per my suggestion.

So, I am proceeding to blog about the whole matter here in my blog for all to see and for readers to decide for themselves if the people organising the event are fair and honest. If they are not fair and honest, then, can we logically question if a product or service offered by them has any hidden agenda?

I was first introduced to Robert G. Allen's books by a reader of my blog. He goes by the initials "SC". Then, recently, he asked if I would like to help promote an upcoming seminar by Robert G. Allen.

To be fair to myself and other advertisers in my blog, I told him that I can help him spread the word but there would be a one time advertising fee. He said that he was only helping the organiser of the event and had to check with the organiser. He came back to say that the organiser offered to pay me for every ticket I sold in my blog and to make it more attractive, my readers will get a discount off the official price of $64 per ticket. A "discount code" or "promotion code" was created for this purpose.

Now, Robert G. Allen's books are interesting and while not revolutionary, I believe that they will benefit people who are thinking of creating more income streams on their journey to financial freedom. So, there was no reason not to accept an advertorial offer to promote a seminar by the same person.

The nightmare started after a reader told me that another blog is selling the ticket at $57.00 without having to apply any discount code. So, I wrote an email to SC regarding this. His name is Swee Chye, by the way:

Hi Swee Chye,

Something just came to my attention and I am not too happy.

A reader just told me that he saw the tickets going for sale in a another blog for only $57 and I am saying in my blog that the regular price is $64 and that my readers get a special price if they use the discount code I have provided in my blog.

I clicked on the link provided by the reader and it really says $57.00. This is in Greatsage's blog. This is on Facebook too.

You have put me in a very difficult position.

My blog has a reputation which I put on the line when I do this. If I do not get a satisfactory answer, I will have to blog about this to clarify the matter and salvage the situation.

I look forward to your prompt reply as to how to remedy the situation.

Best wishes,
AK

I got a rather prompt reply from SC:

Dear AK,

 

I've checked with the organizer and he came back and clarify that the other blog link was at the net discounted price as it has already factor in the discount. This was a tie up with the other blogger.

 

I went to check myself and yes there is no promotional code area to enter for the other link, and it is at net $57.

 

So maybe you can explain to the reader that the official price is at $64, and that is why you manage to get a special price if they use the discount code, which can't be used in another link or page.

 

Hope this helps to explain the discrepancies.

 

Let me know if there are any other clarification to be made.

 

Regards,

Swee Chye

To which I replied:

Hi Swee Chye,

This is not a satisfactory answer.

If readers can buy the tickets at S$57 elsewhere without applying any discount code, why do they have to do it in my blog?

It gives the impression that my blog raised the price and then provide a discount to give an impression that it I am offering a better deal!

I get the feeling that you are also a business professional. How would you feel?

This is not just a matter of 1 reader raising the issue. How many more will there be? How many more will talk about this without telling me? It is my blog's reputation which is at stake here.

I suggest that the discount for my readers be raised to 15% to remedy the situation. For those readers who already bought their tickets and I last counted the number to be 3, you guys could give them some token for the additional 5% discount at the venue.

The current arrangement puts me in an awkward position and I am sure you can appreciate this. I cannot accept it.

I hope that the organiser agrees to my suggestion. Failing this, I will have to take matters into my own hands.

Best wishes,
AK

And this was the remedy they offered:

Dear AK,

 

I've convey your message to the organizer.

 

This is what he came back with.

 

As a special appreciation and token for your readers, those who have signed up, and those intending to sign up will get a complementary ticket to "The_Secret_Of_Success" seminar on 18Aug itself.

 

This complementary ticket is value at $57 as well.

 

The session will be in Mandarin, focusing on the "Secret to Success".

 

Maybe, you can include some add on in the blog post on the special gift only for your readers, but not the poster.

 

For those who have signed up, they will be informed and given the special complementary ticket.

 

This is subjected to the first 100 sign ups only.

 

So for those already sign up or intend to sign up for Robert's session on Monday - the tickets will be complimentary,   i.e. you buy one ticket, and get to attend both sessions, subjected to the first 100 sign ups only..

 

All guests attending this event are encourage to meet Ben Lai and Jane for discussions.

This is a special arrangement just for your reader and clarification to the discrepancy, which the other blogger will not get.

 

Is this ok for you?

 

Let me know.

 

Regards,

Swee Chye

Of course, this missed the point I was making totally and I told SC so:

Hi Swee Chye,

Please tell the organiser that I am promoting Robert G Allen's seminar and not some other seminar. This is in part due to your prior good recommendation to read his books which are interesting.

I don't even know who are the people conducting "The Secret of Success" seminar. Furthermore, it is in Mandarin! My blog is in English! How many of my readers are like me and have difficulty with Chinese?

A bundle offer is not the original intention of our agreement. A special price for my readers is supposedly the offer. This special price is now discovered to be not special at all.

So, I am asking the organiser to deliver on the promise of a special price for Robert G Allen's seminar for my readers and nothing else. A 15% discount should do it.

If the organisers cannot agree to an extra 5% discount, I will simply state my views on the matter in my blog matter of factly and let readers form their own conclusion. I will still fulfil my end of the agreement but I will have to do so giving readers full knowledge.

You might know this but the organiser might not: I am not a blogger who is blogging for money. I care about my blog's reputation more than anything else.

I look forward to your prompt response. Thank you.

Best wishes,
AK

SC did not send a reply to the above email and I followed up with another email at night after publishing a Part 2 to the advertorial in my blog:

Hi Swee Chye,

I have not received any reply regarding the proposed 15% discount for my readers. So, I assume that the answer is "no".

Anyway, I have updated my readers regarding the situation in my blog and if they still want to buy tickets to the event from my blog, they are now doing so knowing fully well that the tickets are available in another blog for $57.00 each without having to apply any discount code.

I am always above board with my readers. That is the reason why they trust me and why they keep coming back.

Readers who buy tickets from my blog, I will send them tokens of appreciation at my own cost.

I have to say that I am disappointed with how this has turned out but I know you are just the middle man and you don't have a say in how things work.

Thank you for helping me pass the messages. :)

Best wishes,
AK

As anyone can see, I was still very cordial, believing that SC, a reader of my blog, was just helping out the organiser and that he was not in the know.

However, when a reader showed me that the forum at kiasuparents.com is selling the tickets at only $30.00 each and that $57.00 could get three tickets, I was really upset:

Hi Swee Chye,

A reader just told me that the forum at kiasuparents.com is selling the tickets for $30 each and $57 for 3 tickets! What is going on?

I clicked on the link provided and it brought me to:http://www.eventbee.com/event?eid=102104202

Please find out from the organiser what is going on. This is just getting worse! It is terrible!

How well do you know these people?

Best wishes,
AK

As you can see, I still believed SC! Then, I looked at the nickname of the person posting in kiasuparents.com. It says "scang". I put two and two together.  SC's email address says anselmang@gmail.com:

Swee Chye,

The person posting in kiasuparents.com has the nickname "scang". That is you, isn't it? You knew all along about the special prices and you didn't tell me?

I entered into this arrangement in good faith! How is this fair to me and my readers! I hope you are going to tell me "scang" is not you.

If I do not hear from you by 8am tomorrow, I am going to publish our correspondence on my blog for all to see.

I DO NOT APPRECIATE BEING TREATED THIS WAY!

I want you to offer a FULL REFUND to all my readers who have bought tickets to the event through my blog if they wish it.

There is a total lack of fairness on your part in this entire exercise! You have omitted important information which could have influenced my decision on whether to promote the event! This is MISREPRESENTATION BY OMISSION!

TREAT THIS AS VERY SERIOUS!

AK

Now, not many people have seen me furious but I was SO furious and still am.

Then, something struck me. I went to the three ticketing sites and everyone had this in the header:

What or who is ARIIX? I did an online search and I think this is an MLM company. If the seminar is just a front to promote some MLM effort, then, the organiser has truly been dishonest with me. If I knew it was an MLM effort, I would never have agreed to this. My fury went up a level because it makes me an unknowing partner to a possible deception.

I did an online search on Ang Swee Chye. He has a linkedin account: http://sg.linkedin.com/in/scang

The last piece of the puzzle has fallen into place.

In my life, I have come across many dishonest and unfair people. People would sometimes withhold vital information, putting others at a disadvantage while promoting their own agenda.

I have been a victim before and I have developed a defence mechanism over time but not to the point of being cynical or overly suspicious. I still like to believe in the goodness of people. I still believe in fair play.

A total of 6 tickets were sold through my blog. Of course, I can say that I am lucky that I discovered the shenanigans quite quickly. However, to the people who bought the 6 tickets, I am truly sorry.

I went and bought inspirational bookmarks last night to send to them as a token of appreciation because they could have bought tickets at $57 each from the other blog instead of my blog. Now, these bookmarks seem grossly inadequate.

I don't know what else to say and for someone who talks a lot, this is saying something. I am very sorry.

Related post:
Create multiple income streams with Robert G. Allen.