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The Difference Between a Stock's Value and Price

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Value is a better measure for investors while price matters more to traders
We, the so called “value investors” often find ourselves trying to resolve the differences between a stock's value and its price. If you have spent any time investing in the stock market, you will know that value and price are two different measures arrived at by different means but most of the time we might confuse and mixing up “price as value”.

Spending $XxK on Investment Courses: What Makes a Great Investor? Nature vs. Nurture

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Singapore-based 8i Holdings seems to lack investing nous it espouses(Link)


This news headline in The Business Time  dated 31st Jul 2018 really caught my attention as I wonder if value investing is a result of “nature or nurture “. Can someone paying few thousand dollars to attend the so-called “ Value Investing Courses “ be able to practice what they teach and beat the market by getting Alphaor be beaten by Betaeventually. ( Link :Alpha , Beta , Smart Beta )

Mr. Market : 市场如天空,变幻无穷。。。。莫测

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I really enjoy the beauty of sky every morning or evening whenever I look up the sky from my living room….. these photos were taken from my house in the morning or evening.
Like skies , Mr. Market’s mood swingsdays and nights or minutes by minutes ….
Below quoted fromWarren Buffett’s Letter to Berkshire HathawayShareholders in 1987.

HYFLUX : 成也 新加坡, 败也 新加坡

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In last’s week’s Town-Hall meeting, in a distressed and disappointed mood, Hyflux"s CEO said that “ it was ironic that she built Hyflux and made it a success business story started from Singapore and yet fail because of Singapore’s project ( Tuaspring Integrated Water & Power Project -Link).
The Town-hall meeting was attended by almost 600-700 retail investors ( mostly retirees), with one reported to have invested more than $250,000 in 4.25% Perps Bond and also 200 plus MTN holders in early session.

Have You Been Nudged Today ?

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Have you been nudged?(  Link ) from BBC.com)


<In probably the most well-known example, spillage around the toilet, an age old problem for at least half of the human race, was cut by -80% using an ingeniously simple  intervention.>


The 2017 Nobel Prize in Economics was awarded to Professor Richard Thaler for his contributions to behavioural economics. Prof Thaler's work essentially questions the economic dogma of the so-called "rational man" as defined by classical economic theory, who makes decisions based on weighing the additional benefits against the additional costs of every single option.

Animal Spirit : We are all subject to irrationality

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John Maynard Keynes in 1933 Animal spirits is the term John Maynard Keynes used in his 1936 book The General Theory of Employment, Interest and Money to describe the instinctsproclivities and emotions that ostensibly influence and guide human behavior, and which can be measured in terms of, for example, consumer confidence. It has since been argued that trust is also included in or produced by "animal spirits".
Even apart from the instability due to speculation, there is the instability due to the characteristic of human nature that a large proportion of our positive activities depend on spontaneous optimism rather than mathematical expectations, whether moral or hedonistic or economic.  Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits—a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitativ…

Patience Is Your Biggest Investment Asset

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One of my reader ask me what am I doing since market has gone down by more than -10% from early May, am I buying or selling ? My answer is "No" , I don’t do any major adjustment on my portfolio , except nimble a little bit here and there with the dividend I received. Basically, my war-chest remained same in term of percentage in my portfolio.
For me, I don’t think it is compelling for me to do major adjustment on my portfolio at this point of time , although the STI Index has corrected by more than -10%, but it sitting just at long term mean level.

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