Today's millionaires.

Do you know that millionaires' effective income tax rate might actually be lower? This is true in the USA and it is also true in Singapore.

Remember how much income tax I had to pay? See: Double your income but not your tax.



85% of America's rich are self made. (18 March 2014.)

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7 Millionaire Myths
by Claire Bradley, 15 Aug, 2010


1. Millionaires Don't Pay Their Taxes 
2. Millionaires Just Inherited Their Money
3. Millionaires Feel Rich 
4. Millionaires Have High-Paying Jobs
5. Millionaires All Drive Fancy Cars 
6. Millionaires Hang Around the Golf Course All Day
7. Millionaires Are Elitists


Today's millionaires are people who live within their means, budget and spend wisely, and focus on financial independence first. 

These are habits that take discipline, but ones we can all adopt to begin growing wealth. If these facts prove anything, it's that every one of us can strive to become a millionaire.

Read article here.

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Grow your wealth and beat inflation.

Golden Agriculture: Inverted black hammer.

On 16 Aug, I mentioned: "Any further weakness should see strong support at 55.5c as provided by the 100dMA." Price closed at 55.5c in the last session. This is also where we find the rising 50dMA which seems set to form a golden cross with the 100dMA soon. The volume, although rising, is relatively low.

The declining MACD does suggest some price weakness and the 20dMA has completed its turn downwards.  The MFI, although showing longer term strength, might continue to decline in the near term if price weakens to test the 200dMA as support and if volume increases on such a move. This next support is at 54c. 

Despite the recent weakness in price, OBV does not show a major downswing, suggesting that distribution is weak. Thus, I would continue to accumulate on weakness.

Related post:
Golden Agriculture: Chinese demand on the rise.

Marc Faber: S&P will not fall below 1,010.

 "If you are very bearish about the world long term, you would probably be better off in equities than in bonds." Marc Faber, 3 August 2010.

Genting SP: Weakness to continue?

On 17 August, I asked "Has Genting SP's sky rocketing price run out of fuel at last?" Price has shown some weakness as it retreated to the short term support of $1.50.  This support was compromised in the last session.  A sell signal on the MACD histogram appeared two sessions ago.  The silver lining is the low volume observed as price weakened.

Lower price and lower trading volume. What does this mean? The momentum oscillator to look at is the MFI. The picture of higher lows on the MFI is still intact. Demand has not crashed. There is no big downswing on the OBV either which suggests a lack of any meaningful distribution.

So, it seems that Genting, thus far, is experiencing a low volume pull back. Time to buy? On 17 August, I suggested $1.30 as a stronger support because it is "a candlestick resistance level which took many sessions to be overcome".  Has the picture changed?

The 20dMA has moved higher up and would provide immediate support in case of a sustained pullback.  It is currently at $1.35 which happens to be the low of 13 Aug.  Traders would remember this day as the day the counter gapped up on high volume. Expecting some support at $1.35, therefore.

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Who’s the businessman who lost S$26m in three days at RWS?