The Rules of Wealth

The 100 rules of wealth... follow them right and retire rich...

Many rules can be found in Rich Dad series ( like having to start your own business, and unlikely to be rick working for others)

Also the mindet, the plan , the start.... can also be found in other millionaires book ( like the Instant Millionaires)

I never get tired of reading the road to that million book..

Birds of a feather , flock together...

Maybe one day, I will feature the Millionaire book written by me...

Then I can truly say I have arrived!

Unmistakenly Chinese, Genuinely Malaysian...

 

Read this if you want to know why some Chinese Malaysians are called "banana" and why the bananas make the most noise.

The 90% of the Chines Malaysains are as inscrutable as ever bacause only the English speaking people are interested to do "research" . The Chinese who reads Chinese are too bothered and are happy to stick to mainstream newspapers for their needs.

Understand the G1, G2, and G3s.... and why 95% of Chines parents sent their children to Chinese primary schools. Very soon , the G2 will swell in number in the next generation when they Chinese primary kids grow up and start to voice their opinions.

Politicians must read this book... and hopefully will not go around giving "white packets" to living people of Chinese descent  ...

Wealth Magic

An Aussie version of Rich Dad, as you can see many examples of OPM ( Other People’s Money), using Equities from a revaluated Home mortgage to buy properties in perpetuity with little or no money down. Leverage if used wisely can do magic. But faced with subprime like property meltdown, you have better be prepared.

Some very interesting concepts like :

(1)   The Key to Wealth : knowledge ( applied ) and skill

(2)   The Key to Success : you reap what you sow

(3)   The First Secret of Money Magnetism : Uniqueness ( 1 demand 2 willingness to pay 3 only you can provide supply )

(4)   The Second Secret of Money : add Value

(5)    The Third Secret of Money : Leverage

He also touched on :

(1)   When we struggle , it is probably because (1) off-course (2) the winds have changed direction

(2)   Law of Universal Convergence : nature  will fill the “vacuum” created by an well constructed idea and the before the formation of form. Nature will provide all the resources, people, energy needed to create the form because it is the law of nature to fill hte void. Let go of the idea and nature has no more vacuum to fill. The idea just fizzles out. Stick to the idea till it take form.

(3)   The 3 elements of investment : Growth, Income, Low Risk. Choose either 2.

Being rich is a skill worth learning for. Because even if you lose your wealth, you still have the skill to make back the money. Maybe even faster than the 1^st time you made it.

Super Charge Your Investing Approach for Big Profits

This is a book for Active Investors... who likes to do swing trading, definitely not a Buy-and-Hold book..

I read the book backwards...

And the Fast Track Your Journey section( Chapter 12) held my attention for a while..

In it , the author listed 5 areas :
(1) Hard work : 90% preparation. 10% Action
(2) Concentrate  : your stocks to five
(3) Certain Uncertainty : the stock market exists because people are not sure of the future
(4) Cut Loss/ Profit Run : ( fear ) that the market will fall ; ( hope ) that the market will rise
(5) Trail Profit : 7% from the top

In trading, the author uses the VSA ( Volume Spread Analysis) as his main tools... with 4 distinct market phases : Accumulation, Mark-up, Distribution, Mark-down. His view on the lack of selling pressure that is the main reason why stocks go up in price explains why syndicated stocks are being accumulated by players for a long time without volume.

Whilst on valuation, he recommend PE ratios or the E/P ratio which he then compares against the current FD rates.;

 On spotting the market strengths, he has 4 categories :
(1) Selling climax ( bag holding )
(2) Testing
(3) Stopping volume
(4) Shakeout

 Conversely, on market weakness, he has :
(1) Buying climax
(2) Up thrust
(3) No demand Up bar

His DEEP PRACTICE is basically a mental visualisation technique that he uses before he trades ...

In the early part of the book , he discusses the difference between Technical Analysis and Fundamental Analysis and that a combined approach usinf both methods can bring about better results than relying solely on one technique.

His search engine is Metastock.

Swing traders, active investors in the stock market.... this book is written for you!

Who Moved My Cheese?

" Everything flows, nothing stands still "

 --- Plato

The only constant is change. So, how are you gonna deal with it?

21 million copies has been sold...hence 21 million mice cannot be wrong!

So how do you react to the writing on the wall?

(1) Change Happens

(2) Anticipate Change

(3) Monitor Change

(4)Adapt to Change Quickly

(5) Change

(6) Enjoy change

(7) Be ready to change Quickly and Enjoy It Again and Again...

If you marry someone and hope to change him/her...it is better and easier to change yourself!

Better Trading

If you are trading for a living, this is an add-on book you should have. From the author of the Guppy Multiple Moving Averages, there's always new things that you can learn in any of the books he published.

Today, I learned about :

(1) Equity Curves You need to chart your Trading equity on a graph to "see" the trading performance visually. Many traders miss this point. They use MAs but failed to chart a moving Average for themselves. Drawdowns can be detected immediately when you see your own graphs.

 (2) State of Markets Young, Robust or matured?... Obviously you should catch the trend as early as possible but some traders prefer to catch only the middle third of the trend ie the robust part. A rule of thumb is to catch Longs from a % bounce from the bottom , say 10% or 20%. Technical recession is 20% from the top, so we should also do the same.

 (3) Flinch points The flinch curve is a very unique way of profiling the trader's response to stop loss.

He starts with :

 (A) Performance profiling : comparing various trading strategies eg buy and hold vs managed trading

 (B) Protect capital : his "flinch curve" is very enlightening

(C) Protect Profits : his "Grow-Up Strategy" is worth looking at

 (D) Protect Portfolios : do the "swiss roll "

 Allocate 1 month for this book. You will be lucky is you can go through the heavy stuff at one Part per week.

Be Your Own Boss

Anybody who is disillusioned about the JOB as an lifetime income source will find a legion of pathfinders before them. Gobala Krishnan of the Internet fame, Yeo Keong Hee of "Secrets to Forex Millionaires" are a few examples. Barefootexecutive above is the latest that I read about.

Their WHY's usually start with disenchantment with society's norms : get good grades, get good job , work 30 years , retire on half your income. Sounds like what Robert Kiyosaki said...you bet! I believe the ratio of converts has turned more than 90/10  now....  more than 10% are gearing towards " Minding Their Own Business"... I am one of the aspiring one too... Maybe one day, I will also write a book and gladly declare that  I am the new 1% to join the 10%!

Carrie uses a lot of easy to remember acronyms : her M & M's.

(A) MYTHS : (1) Job Security
                        (2) Why you must Own your own Business ( " MIND YOUR OWN BUSINESS"... one of the 6 rules in Rich Dad, Poor Dad )



(B ) MISTAKES (1) Do not chase Other People's Dreams
                            (2) Chasing Too Many Rabbits
                            (3) Chasing Dollars

(C) METHODS (1) Mindset
                           (2) Massive action
                           (3) MasterMinding
                           (4) Mentor
                           ( 5) Mining Research

(D) MODELS  (1) Service Based
                         (2) Expertise
                         (3) Knowledge
                         (4) Goods
                         (5) Referrals
                         (6) Multiple Streams of Income

(E)  MARKET PLACE  (1) WHO WANTS WANT you have?
                                        (2)  Ideas to income
                                       (3)  WHERE will they find you?
                                       (4) Building Audience
                                       (5) WHERE will you find THEM?

Making the most impact on me?

" Quit worrying about somebody taking your idea or taking your intellectual property.You know what? Take my intellectual property. I can make more"
                       - pg 129 to 130

How much cooler can you get?

Go to barefootexecutivevideos.com for more info