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Welcome to Sail-World.com's New Zealand e-magazine for April 9, 2018
Leg 7 of the Volvo Ocean Race has finally come to a close when the former overall leader MAPFRE crossed the finish line in Itajai, Brazil last night (NZT) and finished 4days 17hrs and 15 mins behind the leg winner Team Brunel.
Food, fuel and water had to be rationed, with MAPFRE fitting their Sea&Watts hydro generator - and finding it worked well with surprisingly well with little impact on speed. They also had a manually powered watermaker which got broken out of the packaging, and worked but wasn't required.
To recap, on March 25, when MAPFRE was close to Point Nemo a small section of the sail track began to detach. The crew nursed the boat for the next few days after making an interim repair to the spar at sea.
They split the mainsail from luff to leech at Cape Horn and pulled in for a minimum 12-hour stopover on March 30 (UTC) which turned into 13 hours by the time both items had been repaired with the aid of their shore crew and a vessel anchored in the shelter of Cape Horn.
At the time of dropping out of full race mode MAPFRE was only 73nm off the lead and was in fourth place.
When they restarted, after effecting repairs, their speed was initially OK, as was that of the other six boats still in the race. A few days later it had all turned to custard as Team Brunel, and Dongfeng Racing took off for Itajai at speeds of over 20kts. At that point MAPFRE was trailing Team Brunel by over 640nm - that's about the length of the Rolex Sydney Hobart.
At the time, two competitors had dropped out. SHK Scallywag had already suspended racing after the tragic loss of John Fisher, and Vestas 11th Hour Racing had also suspended after dropping her mast 100nm south of the Falkland Islands.
For both those two boats, the race is on to get to Itajai by April 22 for the start of Leg 8 to Newport RI.
SHK Scallywag has recruited a delivery crew who are taking the VO65 through the Strait of Magellan to Itajai. They left Puerto Montt a few days ago.
Vestas 11th Hour Racing left Port Stanley for a second time after fitting a Jury Rig and new improved fuel system for their 1400nm voyage under motor and sail.
We have several stories in this edition about the various recoveries by the Volvo Ocean Race entrants, as well as the stories from the lead entrants.
Thanks to the drone flying skills of the On Board Reporters there's some spectacular video of the Volvo 65's sailing at high speed in the Southern Ocean.
What is remarkable about the Leg 7 finish is its contrast with the end of Leg 6 into Auckland. There six boats finished within 25 minutes, and the whole seven finished Leg 6 within two hours.
Yet on the next Leg, the total margin from first to fifth was over four and a half days, with two retiring from the leg.
Both SHK Scallywag and Vestas 11th Hour are racing against time to make the start of Leg 8. We'll be carrying any updates we have on sail-world.com
New Zealand was represented by a team of 26 sailors at the Princesa Sofia Trophy in Palma, Spain. The regatta ended on early Sunday morning NZT and was the first of the major international regattas on the 2018 European circuit. Over 1200 sailors competed in the Regatta which covers all 10 Olympic events.
In August, the 2020 Olympic Qualification process gets underway at the 2018 Sailing World Championships, Denmark. From now the lead-up regattas take on a special significance.
New Zealand emerged from Palma as the third best-performed country with three medals, behind Great Britain and The Netherlands.
Probably the most pleasing aspect of the regatta, from New Zealand's point of view, is that we are starting to build some depth into the classes, rather than just having one key sailor/crew in each event - and living or dying on their results and form.
With Peter Burling and Blair Tuke not confirmed for a 2020 Olympic campaign, Josh Porebski and Trent Rippey turned in a creditable fourth overall in the 49er fleet. A quick scan down the result sheet reveals only a few of the sailors who competed in Rio Olympics, 18 months ago. Most of the entry list was new crews. Also missing for similar reasons to Burling and Tuke was the crack Australian crew of Nathan Outteridge and Iain Jensen.
Another notable result came in the Finn class with former Laser sailor and America's Cup cyclor, Andy Maloney turning in a very creditable third against a quality field with plenty of familiar names from Rio 2016. Maloney scored two race wins in the 73-strong field.
The event was won by the 2016 Gold Medalist and America's Cup team Land Rover BAR sailor, Giles Scott. Olympic Bronze medalist Caleb Paine (USA) was in 27th two places ahead of NZ's 2016 rep and America's Cup cyclor Josh Junior.
2016 Bronze medalist Sam Meech improved one place to win Silver in the Laser class. All three medalists from Rio were in the high-quality field - with the Olympic Gold Medalist Tom Burton (AUS) in sixth, and the Silver medalist from Rio in third.
If Yachting NZ applies same selection criteria for the 2020, as YNZ used in 2012 and 2016, then New Zealand sailing fans should expect to be represented in only seven of the ten events in Games of the XXXII Olympiad.
That is the same as Rio 2016, and down from the full card of 10 events in 2012 at Weymouth and an improvement on the six classes only in 2008 at Qingdao.
The 2020 Olympic Qualifying criteria were published late last week.
The first and arguably main, qualifying round is at the 2018 World Championships in Denmark, with the top eight countries going through in the Finn, 470 Men, 49er, 470 Women, 49erFX and Nacra 17, for the other classes, the Mens and Womens RS:X have 10 and 11 spots respectively. The Laser and Laser Radial have 14 and 18 country spots. On the basis of the Princesa Sofia results, New Zealand would have Qualified in six events and be two places wide of the mark in the Men's 470.
While there are further qualification rounds in 2019, the simple point is that if you can't make the top eight countries in 2018, how are you going to be medal capable in 2020?
Sure a crew can have a bad first qualifier and come back to be top three overall in the following year, but that is very much the exception.
It is still early days, with plenty of regattas to come before the Olympic Qualifiers in August. After what happened in 2016, to earn Olympic selection for NZ, a sailor or crew has to be in the top 10 overall in a World Championship in one of the two years preceding the Olympics.
That is a very high bar.
Follow all the racing and developments in major and local events on Sail-World.com by scrolling to the top of the site, select New Zealand, and get all the latest news and updates from the sailing world.
All stories are available on Sail-World.com/nz
Good sailing!
Richard Gladwell
NZ Editor
Please forward your news stories and images directly to Sail-World NZ
To subscribe to Sail-World.com's NZ e-magazine published two or three times weekly go to www.sail-world.com and click on Newsletter and Subscribe. You can see previous newsletters by clicking on Newsletter and then Archive from the drop-down menu.
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Or if you are a potential advertiser and want to understand how Sail-World can work for your company, website or product, then drop a line to Colin Preston at
If you need to contact the Sail-World team, our email address is


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Bronx, NY Brick Capital Partners LLC has completed the following financial transactions through an affiliate entity:
• $1.5 million first mortgage: Located in the Mott Haven neighborhood, the collateral is comprised of a four story walk-up apartment building with 28 apartments and two stores. The interest-only loan was closed within 10 days of application.
• $1.55 million blanket first mortgage: Provided to a private real estate group, the collateral is located in the Boerum Hill section of Brooklyn, and is comprised of a vacant three-story walk-up apartment building as well as partially occupied four-story walk-up apartment building. The loan proceeds are to be utilized for the renovation of the buildings.
Marc Hershberg of Friedman-Roth Realty Services LLC arranged the financing on behalf of the borrower.

subset: commoncrawl


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350,000 Ukrainians to pay real estate tax in 2016 – State Fiscal Service
14:42, 28 September 2016Economy
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The State Fiscal Service of Ukraine (SFSU) in 2016 has accrued tax liabilities on the tax on real property other than land for over 350,000 individuals.
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Italy – Barolo
Azelia is a small quality-focused estate of 16 ha. owned by the Scavino family. Lorenzo Scavino works with his father Luigi to make concentrated Baroli that are not forcefully tannic in style, but they are serious in structure with firmness, flesh and beautiful balance. The Scavino's seem to be able to coax out the heady perfume of rose and spice along with the berry fruits, forest, herb and savoury notes of the nebbiolo grape. They do a rigorous green harvest, along with conscious work with canopy management to ensure air-flow and allow adequate light penetration without sunburn. The modest yields of only 5.5 tonnes per hectare (approx. 35hl/ha or 2.3t/acre) provide ample concentration in the high-quality raw material. In the cellar cleanliness and fastidiousness are apparent, and the judicious use of large oak barrels preserves the fruit, so it is no wonder the wines are regularly reviewed as being among the best of the region.
Azelia Dolcetto d'Alba 'Bricco dell'Oriolo'
Azelia Barbera d'Alba 'Punta'
Azelia Langhe Nebbiolo
Azelia Barolo
Azelia Barolo 'Bricco Fiasco'
Azelia Barolo 'Bricco Fiasco' MAGNUM
Azelia Barolo 'Margheria'
Azelia Barolo 'Margheria' MAGNUM
Azelia Barolo 'San Rocco'
Azelia Barolo 'San Rocco' MAGNUM
Please contact the office on 03 9077 7510 for further details on vintages and availability
"Azelia has come into its own."- James Suckling, Wine Spectator
"…wines from [Luigi] Scavino's estate, Azelia, can hold their own with the very best of the region. The wines combine power and elegance with a level of virtuosity matched by few in the region…there can be no doubt that the overall balance and sense of proportion of these wines is excellent."- The Wine Advocate #167
"We think it's safe to say that Luigi Scavino's family winery is well on its way to the front rank of winemaking. The wines have enviable balance, oak is used with increasingly impressive skill and the quality of the fruit is faultless … We are very pleased to express our admiration for this calm, skilled winemaker." – Gambero Rosso Italian Wines 2010


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Part One[1]Edit
In 2113 the Emerald Isle Ambassador and his robot chauffeur were shot by the terrorist group the Sons of Erin using a spud gun. After a Pat-Wagon discovers the body the Judges review Spy-in-the-Sky footage and discover that Bonny Staples, a Mega-City One blitzer had aided the terrorist group. McGruder called in Dredd to go to the Emerald Isle to investigate and to take care to be diplomatic, as she was trying to get the Emerald Isle Judge Militia to sign up to the Judicial Charter.
Part Two[2]Edit
After a ten-hour ride, Dredd arrived in Emerald Isle where he partnered with Judge-Sergeant Joyce. Meanwhile, Staples had convinced the Sons of Erin to increase the violence of their campaign for independence.
Part Three[3]Edit
At The Green Dolphin pub, Dredd and Joyce apprehended the Mahone brothers. Back at Justice Central they questioned them but don't uncover any fresh information.
Part Four[4]Edit
Bloody Monday Morn: at 06:30 on 12 May 2113 devices exploded at a number of Murphyville locations including the Spudatoriums, docks, Hab-villages and Telemurph vid station (though a device at the Guinness brewery failed to explode). In the wake of the confusion, a minute later the Sons of Erin attacked.
Part Five[5]Edit
Led by Dredd, the Judges took back the vid station building, though discovered that Neeson had been hypnotised to act as a decoy for Staples.
Part Six[6]Edit
On the way to the North Sector Spudatorium, Dredd runs over the remnants of St Stephen's Green. Escaping from Dredd, Staples was cornered by Joyce. Dredd managed to shoot him, toppling him away from Joyce before the blitzer could explode.
The tourist industry (and thus the Emerald Isle economy) shattered, Dredd left for the Atlantic Flyover.
- Buzz
- Emerald Isle Ambassador (un-named)
- Judge Dredd
- Chief Judge McGruder
- Bonny Staples
- Frank Neeson
- Judge-Sergeant Joyce
- Patrick
- Charlie
- Mahone brothers
- Dominic
- Big Pete Slannery
- Judge Peter
- Mick
- Wee Davy
- un-named skedway near the Branson flyover
- Conrad Mall
- Tek-Lab Four
- Murphyville
- Charles Haughey Memorial Village
- Landfall Point
- The Green Dolphin
- Justice Central
- Murphyville International Airport
- Riverside Travel Centre
- East Sector Spudatorium Fast Foodery
- Guinness Brewery
- Justice Central Station
- Telemurph vid station
- North Sector Spudatorium
- St Stephen's Green
- Leeson Street
Food and DrinkEdit
Behind the ScenesEdit
Emerald Isle was written by Irishman Garth Ennis who used the story to play with stereotypical and derogatory images of Ireland.
It represents the first time that Ennis and Dillon (who would later collaborate on Hellblazer and Preacher for DC Comics) worked together[7].
- ↑ Judge Dredd: Emerald Isle Part One, 2000AD Prog 727
- ↑ Judge Dredd: Emerald Isle Part Two, 2000AD Prog 728
- ↑ Judge Dredd: Emerald Isle Part Three, 2000AD Prog 729
- ↑ Judge Dredd: Emerald Isle Part Four, 2000AD Prog 730
- ↑ Judge Dredd: Emerald Isle Part Five, 2000AD Prog 731
- ↑ Judge Dredd: Emerald Isle Part Six, 2000AD Prog 732
- ↑ [Good Reads]


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Consulting Career
Stay where you are, pick up additional skills. Network, network, and when you're done, network some more. Pull down side gigs and work them in your spare time to build a client base. If you can, develop applications you can sell on the side. Get your feet wet before you dive in.
During your search for gigs, you will get a feel for what customers want. If you choose exactly the skills you need right now, chances are something else will be hot in two years.
Before you jump, make sure that you have at least a few months solid work lined up. At the higher consulting rate, you should be making enough money to carry you through to the next job.
It's a HUGE step, especially when you are leaving a steady paycheck, but I haven't regrettedit.
Do not get smug or otherwise take a flamethrower to the bridges back to your current employer. Previous employers have sent work my way and have offered to take me back if things didn't work out. DO NOT LIMIT YOUR OPTIONS!!
Consulting Career
I am a software Developer/ Dba in an ISO 9002 company in India and getting good pay scale too.
When I were started my career then I were having just knowledge about DOS and Foxpro.
What I feel from your ques. that you required employement rather then place or name in the market. This is bad. Grain your skills yaar. One thing must remember if you are unable to find any preferable job then you should go to the line of Teaching. Set your skills for others, you will be popular enough and consulting will be welcomed by you very soon.
Consulting Career
I work for a consulting firm and got there in a similar way that you are describing your aspirations. I am not an independant consultant as described in the previous two replies, rather, I work for a firm where I have a steady paycheck and benefits(that I don't pay a dime for). However, independant consultants make more money per hour, they may go through tough times of no work, which means no pay. In my case, I don't make as much per hour, but I am in the top 20% of wage earners in the US - AND I have a steady paycheck with benefits.
I started as an Oracle programmer for three years right out of school and then made the move into the consulting firm world. Most consulting firms desire employees to have a few years of real-world experience. I imagine the same would be good for an independant since they have to wear many hats (marketing & sales to get work, technical to construct the solution, and business analyst/project manager to discover and design the solutions. Not every job will need all of these skills, but you will need to be good at all of them to make it in the consulting world (in my opinion).
Good Luck!


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house facing US-1 on Coral Gales side of Coconut Grove. Multi story building and road amplification across the street.
|Elementary School
|Middle School
|High School
The data relating to real estate for sale on this web site comes in part from the participating Associations of the Miami Multiple Listing Service. The MLS data provided for the property above (A10636985) is provided courtesy of (Vision Realty of Miami). The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Data last updated on 08-12-2020. IDX powered by Realty Net Media
Real Estate Websites


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In the mid 90s, Karen Schoonover addressed issues around artists using the Internet - still a very new thing in most households, workplaces and schools at the time - to market them self. The internet was - and still is - a low-cost option for artists to use for self promotion, and as an inherently visual medium, offered much potential to boost awareness about an artist and their work.
|Excerpt from "Marketing in Cyberspace"
Unlike the music industry however, sales in art and craft aren't charted via tools like Billboards Top 20 (which is based on hard figures from album sales). So the direct connection between online exposure and eventual sales can't be measured.
But if you consider how often a potential customer or gallery owner asks you if they can view images of your work online, then you can begin to understand just how close to the mark Karen was almost 20 years ago.
Read the complete article ...


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Working on the growth strategy for an app. Consumers will be able to earn money from the app and companies will benefit from consumer data. How do you build both audiences (or do you build one first) such that users or companies aren't immediately frustrated with the app's growth timeline?
Lots of moving pieces to that question Greg, but in terms of audiences I'd just think of it this way - do consumers care if there are also companies benefitting from the data? As in, does it solve their needs? I would imagine not.
Conversely, I'm assuming companies want the data coming from the users, so if there are low users, companies won't find much value.
So sounds like the course of action is to focus on getting consumers, build up that database and then work on monetizing that database.
Trouble is, the consumers can't earn money off the app until the companies are there. And the companies won't be there until there's a lot of consumers. It's a real chicken/egg problem.
I do agree, that instinctually I want to grow the consumer base first. But who would download an app without any function? It's functionless until both parties are there.
But even growing them simultaneously seems tough.
Have been contemplating having a "hold over" feature of some kind that potentially adds value for consumers while the consumer base is growing, but not sure what.
More details on the app will be needed so as to fully answer this. but to me it looks like there is no app without consumers. what ever you decide on should be consumer focused. how about you convince a few companies to make use of the app on a trial base so as to gain more response from consumers that meaning you will have to compensate the consumers your self. you got to make sacrifices anyways


text: Because Ulthera uses sound energy and not light, it is commonly used on dark skin. Laser resurfacing and deeper chemical peels are less suitable for darker skin tones due to the risk of hyper-pigmentation, keloid formation, hypertrophic scarring and other complications.In a recent post on the Palm Beach Post, a local newspaper in West Palm Beach Florida, Dr. Anita Mandal of Palm Beach Garden stated "Having performed many Ultherapy treatments on patients of Asian, African-American and East Indian descent, I not yet found dark-skinned patients to be at greater risk than light-skinned patients."Since laser skin resurfacing works by stripping the upper skin layers, it can cause problems in dark skin. On the other hand, Ulthera works deep under the skin surface by stimulating collagen regeneration, thus bypassing the risks seen with other lasers. Related Topics: Ultrasound Skin TighteningPalm Beach Gardens Ultrasound Skin Tightening Providers


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This blog is about financial freedom and serves to inform, educate and entertain the public on all personal finance matters. The author of this blog has been blogging for 5 over years. He was also a guest blogger at CPF's IMSavvy site (now AreYouReady site). This blog is visited by many unique readers from various countries every month. Do bookmark this blog and leave your comments.
Saturday, October 31, 2009
The Price of Coffee
In a normal hawker centre coffee shop, a cup of coffee will cost you around $0.70
In a fast food restaurant, a cup of coffee will cost you around $2.00
In Starbucks, a cup of coffee will cost you easily $5.00
Matter of fact is that the coffee actually tastes almost the same to me. I certainly cannot tell the difference between a Starbucks coffee and one that is served in Macdonalds if you put me through a blind test.
What is amazing is that it does not mean drinking at Starbucks will make me a happier person. In fact, it is possible to drink a cheap cup of coffee and still derive the same amount of satisfaction and happiness.
It is thus possible for a person to spend a lot less and still be happy. Better to be eating bread and living a peaceful life than to have a buffet spread everyday but be unhappy.
Just my thought for the day.
The author had a cup of coffee at a fast food restaurant that cost him $2.10 today. He feels that the coffee was only average and did not particularly enjoy the coffee session anyway.
Read Related Articles:
1. Another Day at Starbucks
2. Why People Buy the Stuff They Buy
Thursday, October 29, 2009
What is Dow Theory and Why It Matters to You
Analysis of Dow Theory & Why It Matters to You
Till date, there has been no conclusive evidence on the profitability of using the Dow Theory. While studies remain inconclusive, some have have argued that Dow Theory produces excess risk adjusted returns compared to a simply buy and hold strategy.
Today, many chartists or technical analysts still consider Dow Theory's definition of a trend and its insistence on the study of historical price action of stocks as one of the pillars of technical analysis.
Read Related Articles:
1. To Trade Or To Buy and Hold
Wednesday, October 28, 2009
Book I Am Reading
It provides an insightful account of the origins of Wall Street and also touches on the pionering work of all the early scholars with their new theories on risk, valuation, investment returns and the actual implementation of these theories to the real world.
This book really provides in-depth insights and timeless advice and shows how the unique contributions of these various individuals have profoundly changed the investment world as we know it today.
Why people should read this book is because it provides a very academic response to what has proven to work and doesn't work in the world of stocks.
Random Walks in Stock Market Prices - A Case against Technical Analysts and Fundamental Analysts
Eugene Fama quote on Chartists:
"He must show that he can consistently use these patterns to make meaningful predictions of future prices"
Eugene Fama quote on FA:
"The analyst cannot merely protest that he thinks the securities he selects do better than randomly selected securities; he must demonstrate that this is in fact the case."
My Stand
The onus is on all chartists and fundamental analysts to prove that their system works better than a portfolio of randomly selected securities. I do not side with any camp.
Tuesday, October 27, 2009
$323 in Dividends
I have 17,000 units of it in my portfolio.
This means that I will be getting a windfall of $323.00 sometime in November.
Monday, October 26, 2009
Donald Trump's New Son-in-Law
IVANKA Trump has wed the son of another major New York area real estate family.
The daughter of Donald and Ivana Trump married Jared Kushner at Trump National Golf Club in Bedminster, New Jersey, on Sunday. The Orthodox Rabbi Haskel Lookstein performed the ceremony.
Trump, 27, is the co-host of Celebrity Apprentice, a vice president at her father's real estate company, and has a jewelry company.
The 28-year-old Kushner is publisher of The New York Observer and an executive at the Kushner Companies, which owns and manages commercial real estate and apartments.
Kushner's father was a prominent Democratic political donor who pleaded guilty to campaign and tax law violations.
Wedding guests included ex-New York Mayor Rudy Giuliani, Barbara Walters and actress Emmy Rossum. -- AP
Financial Freedom Art Gallery
There are days when I go a little eccentric and I just need to express myself through my blog. For those who are wondering where I got all these pictures from, you ought to check out Photofunia. It allows you to do really cool stuff with pictures that you upload.
Today I allowed myself to spend some money buying certain accessories for my house.
Read Related Articles:
Saturday, October 24, 2009
Why You Should Quit Smoking
Smoking Raises Your Insurance Premiums
Insurance companies know that smokers have a higher risk of falling ill and perhaps dying young. This is not based on guess work but on actuarial studies where they study statistics and stuff. As such, a male in his 30s who is a smoker will pay a higher premium for insuring himself compared to another guy who is not a smoker.
Overall, this premiums might seem only slightly more but add it up over the years and it could amount to a tidy bit of money.
A Pack of Cigarettes Costs Like A Meal?
If you smoke a pack of cigarettes a day, you would be spending easily $5 over dollars per pack. This is good enough to pay for lunch or dinner!
Why would you want to spend an additional $5 a day when compounded over 30 days, that amounts to $150.
Over 12 months, it is equivalent to $1800!! That is easily half a month's pay for a graduate that just started working.
If you are in your twenties, just invest $150 a month at 8% returns and you will be amazed at how much money you will have when you retire.
Smoking Accessories
Smoking stinks. And I mean literally. That is why smokers often have to buy a pack of cool mints to suck on after they have had their fix so as to make their breath fresh.
This pack of cool mints again costs them $$$.
Read Related Articles:
1. Car Insurance Money Saving Tips
2. Leaving Assets for Future Generations
3. Independent Financial Advice
4. Health Equals Wealth
Friday, October 23, 2009
Where Did My Money Go Today?
The total spending was $42.90
Meals Cost the Most
70% of the money spent today went into food. A breakdown as shown below
Breakfast (takeaway)= $2.70
Lunch (takeaway)= $8.00
Dinner at Ikea = $17.00
Snacks at Ikea = $2.00
Miscellaneous Items
30% of the money went into buying miscellaneous stuff and carparking
A Stool from Ikea = $9.90
Carparking at Ikea = $3.30
Read Related Articles:
1. Why People Buy the Stuff They Buy
2. Top 10 Money Saving Tips
3. Save Electricity, Save Money
4. Retire Young, Retire Rich
5. 3 Key Lessons from Rich Dad Poor Dad
Thursday, October 22, 2009
Why People Buy the Stuff They Buy
I was walking along one of those huge supermarkets today when I made a few interesting observations.
There were a few elderly lady that were simply staring at 1001 different types of can food displayed on the ceiling high shelves.
All of them seemed to be deep in thought and had no idea which to buy. I was standing there and wondering what was going through their heads. What would make them choose one product over another?
Logic Versus Emotions : The Psychology of Buying
Can you remember what was the last item that you bought recently? Was it today? Good!
Now think about the thought processes that went through your head as you made the decision to buy that item.
I believe that certain factors compels us to buy something. However, I believe that LOGIC has nothing to do with it. When it comes to buying stuff, people are totally not logical. Even the most logical person that you know of will become illogical when it comes to spending his money.
I made another interesting observation:
Ever noticed that a 1.5 L bottle of softdrink is sold at say $1.40 while a 0.5L bottle is sold at $1.10 . One just has to pay 30cents more to get 3 times the amount of soft drink.
However, you will most probably find people choosing the 0.5L bottle as it is simply more convenient to carry around. This is especially so if they are not heading home straight and they're just looking for something to quench their thirst.
In the above example, we can clearly see that people buy things based on a host of factors and not based on price and value for money alone. It is what I would term the "psychology of buying".
It is my view that when it comes to buying, people often buy based on emotions and not on logic.
I hope to expand further on this post at some later date.
Read Related Articles:
1. Top 10 Money Saving Tips
2. Save Electricity, Save Money
3. Retire Young, Retire Rich
4. 3 Key Lessons from Rich Dad Poor Dad
Tuesday, October 20, 2009
How to Achieve Financial Freedom
The following are links on certain of my suggestions on how one can become financially free. I hope that you find them useful.
Introduction to Financial Freedom
- My Definition of Financial Freedom - a simple introduction on what I believe financial freedom is and my own personal goals.
- Financial Freedom Number - another method of determining how far you are away from financial freedom is by calculating this number.
- How to Calculate Your Networth - some people do not want to build up passive income and instead look to increase their overall networth. You can find out how much your networth is and compare it with mine.
- Are You Wealthy? - your networth alone might not give you a true picture of whether you are wealthy. The authors of The Millionaire Next Door came up with this method to determine whether you are truly wealthy.
Journey towards Financial Freedom
- Road to Financial Freedom - a 10 part mini-series on the ten steps you can take to kick start your very own journey.
- Four Steps to Financial Freedom - A simple 4 step guide to how anyone can achieve financial freedom
- Contemplative Thoughts - some of my very own personal thoughts on my journey. It also includes some useful articles from elsewhere. Most of them written when I was thinking of giving up.
Increasing Your Income
- Income Investing - a 5 part series on the various investment tools that you can use to increase your passive income.
- Investing in Canadian Royalty Trusts - a short article on what Canroys are and how one can invest in them.
- True Potential of Passive Income - an article off the web that discusses the true potential of passive income
Saving Money
- Top 10 Money Saving Tips - a simple post on how to save money.
- 2 Easy Steps to Build An Emergency Fund - a simple two step strategy one can take to save up for that rainy day.
Other Useful Articles
- 3 Key Lessons From Rich Dad, Poor Dad - a post on three simple lessons I learnt from Rich Dad Poor Dad
- Lessons from Donald Trump - a post on some of the lessons I have learnt from Donald Trump
- Conversation With A Millionaire - my very own conversation with a self made millionaire who is only in his 30s
Free Honeymoon
A Malaysian state will be offering free second honeymoons for couples that are on the brink of divorce. They hope that these romantic getaways can help save their marriages.
Under this plan, feuding couples stand a chance to spend 3 days and 2 nights on a tropical island off Terengganu state.
To be eligible for this plan, couples will have to apply and then undergo an INTERVIEW before being sent on the honeymoons. (I really wonder what kind of questions are going to be asked at the interview....)
The honeymoon package is worth around S$615 and a successful pilot project involving 25 couples has already been carried out.
This is indeed an interesting proposal. I wonder whether they will start giving out free movie tickets and stuff too. Perhaps free movie tickets to watch Michael Jackson's This Is It movie that will be launched soon?
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2 Easy Steps to Build an Emergency Fund
An emergency fund is basically 3 to 6 months of income that you set aside which you can withdraw easily. This means that the fund is most probably in a bank account that you can easily tap into should any emergency arise.
Step #1 - Open Another Bank Account
Yes, you heard me right. Why do you have to open another bank account? It is very likely that if you were to start saving money into the same bank account, you will most probably spend the money without knowing it. The most important thing about an emergency account is to keep it out of sight from us so that we do not spend the money!
Many years ago, I wanted to set aside an emergency fund of 6 months income. It was however only 2 years ago that I managed to do so. The reason for the long delay was that I was simply spending all my money in my only bank account which I had. Whenever it reached a certain amount, I would think to myself: "Hey, I've got lots of money....why not I buy this?"
To cut a long story short, I could not succeed in building up the 6 month emergency fund because I had easy access to the account. I started withdrawing money from the fund as it was not kept separate from my other bank account. This is my BEST advice to you: OPEN ANOTHER BANK ACCOUNT.
You will of course want to make sure that this bank account does not have any high charges and stuff for things like minimum balances.
Step #2 - Deposit a FIXED sum of money EVERY month ONCE you get your paycheck
Keeping a separate bank account is Step 1. For Step 2, it requires a certain amount of discipline. The key is to deposit a FIXED amount EVERY month the DAY you get your paycheck.
The day that you get your pay check credited into your bank account is THE DAY that you must deposit that fixed amount of money into your separate bank account (your emergency fund account). Do not wait for a few days because once you procrastinate, you will most probably not do it and end up not depositing any money at all for that month. This is speaking from my experience.
Let's say that you decide to save $500 per month to build up an emergency fund. All you have to do is simply deposit or transfer the money from your normal banking account straight into the emergency fund account the moment you get your paycheck.
Do this EVERY single month. No excuses.
No lowering the amount too. Every month, you will stick to the amount you have decided and deposit it into your emergency fund the moment you get your paycheck.
SgFinancialFreedom is a blog dedicated to help people achieve their financial freedom. This is done through the sharing of knowledge, information and experience. Find out more about the author and his journey to financial freedom.
Did you find this post useful?
Please leave a comment. Thank you.
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3 Tips to Survive Job Loss
1. Trade The Stock Market $$$
2. Blog and find ways to advertise my blog.
Limit Supply of HDB Flats Please
Monday, October 19, 2009
How to Calculate Your Networth
In businesses, networth or book value of a company is obtained by adding up all the company's assets and subtracting it by the total liabilities. This is known as the networth of the company.
The same can be done for individuals to calculate their networth.
How to Calculate?
To calculate your networth, simply add up all your assets and subtract them by all your liabilites or debt as we commonly call it.
Why is this number important?
Tracking this number is a good way to see that you are building your wealth and increasing your assets. A person's networth should be increasing over time as their income increases.
My Personal Experience.
10 years ago when I was just 18 years old, my networth was only slightly over $1000. That was the total amount of money I had in my bank account. I had no other assets and no other liabilities.
During the 10 years, I have seen my bank account drop close to $0. After experiencing what it felt like to be "poor", I decided that I should never let that happen to me again.
Overtime, I begin to acquire assets like stocks. I also took on more liabilities as I had to purchase a house for my family. All in all, I roughly estimate my family's networth to be slightly above $500,000.
Observations about High Networth Individuals
There are certainly some common denominators when it comes to people of high networth. I think you will find that the most important thing about them is that they are FINANCIALLY SAVVY. In fact, Singapore has one of the highest concentrations of millionaires in the world and this is expected to rise.
They do know about their investments and they do know how to manage their money.
I would like to think that it is the financial education that this people get that helps them to grow their money.
But wait a minute! No school ever taught us financial education right?
You are correct!
Financial education is largely taught at home. Nowadays, I think financial education is obtained through reading of books and surfing of the internet. It is possible to become financially savvy simply by reading more from the internet and learning from the experiences of those who have walked the path.
Read Related Articles:
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4. 3 Key Lessons from Rich Dad, Poor Dad
5. A Millionaire By Thirty
Unit Trust Fund Screener
Are You Wealthy?
The term wealthy means a host of things to different people. Some people define wealthy as having an abundance of material possessions.
In the book The Millionaire Next Door, the definition of wealthy is defined based on one's expected level of networth.
A person who is earning only 1K per month and a person who is earning 10K per month should not be expected to have the same amount of wealth. If they do happen to have the same amount of wealth, it simply means that the person who is earning less is doing a much better job at accumulating wealth that the person who earns more.
What should you expected networth be?
In the book, your expected wealth should be calculated as such:
(Annual pre-tax household income multiply by your age ) divided by 10
So if a person who is 20 years of age is earning $100,000 per year, his expected networth is $200,000. If his networth is more than $200,000, he is building his wealth.
PAWs versus UAWs
PAWs are prodiguous accumulators of wealth versus UAWs who are under accumulators of wealth.
PAWs are simply defined as those whose actual networth are twice their expected networth
7 Factors
Eighty percent of America's millionaires are first generation rich! That is comforting news for us who were not born with a silver spoon in our mouths. The authors also discovered seven common denominators amongh those who successfully build wealth. They are:
1. They live well below their means
2. They allocate their time, energy, and money efficiently, in ways conducive to building wealth
3. They believe that financial independence is more important than displaying high social status
4. Their parents did not provide economic outpatient care.
5. Their adult children are economically self-sufficient.
6. They are proficient in targeting market opportunities.
7. They chose the right occupation.
I would also like to think that this method of defining wealth might be flawed in some ways. If a person has a sudden change in income over the recent years, this way of calculating wealth might not be accurate. Nonetheless, it still provides a pretty good gauge at how well we are accumulating our wealth.
The author is happy that based on the expected networth calculations and his actual networth, he is actually in the category of a wealth builder. However, he has not reached the stage of being a PAW where his actual networth is twice his expected networth. The author also hopes that he is in the right occupation.
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Sunday, October 18, 2009
195 Posts and Counting
When I first started out in 2008 to blog about my journey to financial freedom, I had little clue on what I was going to blog about and whether it would be sustainable.
This post is my 195th post on this blog and I must say that I am glad I have made it thus far.
What started out as a random project to record and increase my passive income every year has become a diary for me as well as a platform where I can engage others who are also striving to financially independent or free.
There are many times when I wanted to simply give up this whole project on financial freedom.
However, I have slowly seen how blogging has helped me to grow clearer in my goals as well as my knowledge.
In the same way, knowing that other bloggers are out there reading and watching just makes me want to be more accountable to the goals that I have set for myself. The knowledge that I have gained from other bloggers are tremendous and I must say that I have grown as an individual because of their suggestions, advice and blogging.
If you have been following this blog for the past one year, I will just like to say a big THANK YOU for taking the effort to read. I know I can write with a sort of "dizzying" effect as there are times when my mind is totally cluttered especially after returning from work.
As my committment to continue blogging, I hope to roll out a new template for this site to make it a bit more reader friendly. I hope to do this at the 200th post but I am keeping my fingers crossed as I can still be pretty busy at times.
Okay, Flash Forward is starting at 10pm and I really hope to catch this episode.
Signing off,
Financial Freedom
See Related Articles:
1. I Received over $1000 in Dividends for August 2009
Friday, October 16, 2009
Bank Accounts
Lately, I forgot to settle one of my credit card bills and ended up with a late payment charge of $40! And that was for a credit card bill of just $80!
Are all these bank accounts necessary? I certainly think so.
Here is how I use all my bank accounts.
POSB Savings Account
This is my primary account which is linked to all the Giro, electronic payment for shares and stuff. It is basically the account which is linked to my ATM card and which I use to pay the bills.
POSB Current Account
This is the checking account which lets me write cheques. I pay $2 each month to maintain this account.
Citibank Step Up Interest Account
This is where my salary is credited. Based on the step up interest, I can earn close to 0.75% interest on my deposits. I will then transfer whatever amount of my pay I need into the POSB Savings Account to spend.
MayBank iSaavy Account
This is my emergency fund account which pays interest of up to 0.5% per annum. I hardly touch the money in here at all. I like this account because of the higher deposit rates it gives compared to other banks.
To Trade or To Buy and Hold
I have heard both sides of the arguments, have read books like A Random Walk Down Wall Street, and I must say - I agree with both TAs and FAs.
But I guess I will just choose the method that works best in making money.
While a stock might rise from $1 to $1.20 in 1 month, the person who holds the stock for 1 month only stands to earn a maximum of $200 per lot of shares.
The person who trades on the down and up trends might however be able to earn more than $200. By going in and out of the same stock, his POTENTIAL to earn is much higher. The probability that he losses money is of course also much higher compared to just holding on to the stock.
So what I do is to have two portfolios: One for holding and one for trading.
I enjoy the best of both worlds. There are benefits of buying and holding and there are benefits of trading. By doing both at the same time, I enjoy both benefits.
In addition, trading provides a form of income. More income brings me to financial freedom much faster.
The tortoise might win at the end of the day but the hare leads most of the way.
I believe that people can combine both approaches to bring out the best of both FA and TA.
Tuesday, October 13, 2009
Conversation with A Millionaire
Today, I got the chance to do so.
In fact, I spent one and a half hours with him speaking about various things in life like success, job satisfaction and wealth building ideas.
I am putting it down in words to share with all as I believe that not many people have actually gotten a chance to speak to successful people or millionaires.
About Money
Money does not buy happiness. But it does buy you the time and the alternatives. Basically, money gives you a wider range of options compared to the average person.
About Discouragement
Everyone feels discouraged now and then. It is important to not dwell on it and instead mix with people who are positive and successful.
About Helping Others
Sometimes, it might not be possible to be directly involved in helping others. How much can one help? Instead, use your God given abilities and channel your energies there. Every job essentially helps some one or somebody at some level or another. If you are able to make more money, you could donate to charity and get others to help.
For example, the leaders of our country might be good in terms of defence and security measures. But you don't see them sitting at the customs office right?
About Careers and Jobs
There are no dream jobs in the world. Each job has its pros and cons. The most important thing is to put your heart into it while at the job. Don't work for your boss or the company. Work for yourself and your family.
Being at the top has its loneliness. Even big bosses and CEOs think of quitting their jobs too.
Riches versus Wealth
Having access to riches does not guarantee wealth. Earning alot of money might not bring you wealth if you squander your money away.
Property Investment
The returns from rental property is very low based on his own experience. Instead, buying and selling properties makes money much faster.
Work Hard Play Hard
It is important to work hard and play hard. The reason why you are able to play hard is because you get a good income from your work.
All work sucks. It is how much you are compensated for it in monetary terms that matters.
Read Related Articles:
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2. Key Lessons from Rich Dad, Poor Dad
3. Donald Trump Lessons
4. David Bach Automatic Millionaire
5. Peter Lim
Monday, October 12, 2009
Standard Chartered Personal Credit
Basically, these cheques are given to me in letters which they have been sending.
So far, I have received 2 cheques.
The instructions states: Simply bank in the attached cheque and enjoy cash at 0% interest for six months with just a nominal fee of 2.5% on the cheque amount.
No gimmicks, No hidden cost?
It says that the promotional rate of 0% interest is valid for 6 months and thereafter, the prevailing interest rate applies. I am not too certain what is the prevailing interest rate for this credit line.
Still, it sounds like a pretty attractive option doesn't it?
I get a cheque for $8000. The 2.5% nominal fee adds up to $200.
So after 6 months, all I need to pay back will be $8200. If I am able to use this money to buy some stocks and the stocks happen to rise in price... I will be using Other People's Money to make money!
But of course, the reverse could happen where the stock prices are depressed after 6 months and I could be stuck in a serious quandry. To liquidate the stocks at a loss and still pay up the $8200.
Sunday, October 11, 2009
Patrick Soh
I believe that Singapore has no lack of entrepreneurs. Given the opportunity and education, most people would want to start their own business. It is just that they do not know how to. Hopefully, this article will give some inspiration to the next "Patrick Soh" perhaps.
Read the article below to find out more:
You want more fries with that, Mr. Kim? How about a hotdog, Miss Park? Once condemned as evil "US imperialist" fare, Western-style fast food is now available in North Korea thanks to a Singaporean entrepreneur who is already drawing up expansion plans just months after opening his first outlet.
"There is a potential to develop this business over there," said Patrick Soh, who is bullish on the prospects of fast food in the isolated Stalinist state better known for famines than deep-fried delights.
Soh, 56, holds the franchise in several Asian countries for Waffletown USA, a relatively obscure brand in the region compared to the likes of McDonald's, KFC, Pizza Hut and Burger King, but he has big ambitions.
The first branch of Samtaesong ("three big stars"), as Waffletown is known in North Korea, started operating in May after Soh's company got the first licence awarded to a foreign fast food outlet.
Burgers, called "minced beef and bread" to mask their American association, are the biggest attraction at the eatery, which also sells fries, crispy Belgian waffles, fried chicken and -- the latest addition -- hotdogs.
"It is not only the locals who enjoy the food. Even the foreigners like the food," Soh told AFP in an interview at a Singapore outlet of Waffletown.
Soh will make his fourth trip to Pyongyang this month to explore the feasibility of opening a second outlet there. If all goes smoothly, it should be up and running in early 2010, said Soh, who is not deterred by problems like power outages and the unavailability of some items in Pyongyang.
His North Korean adventure started when he was approached last year by a Singaporean investor, who broached the idea of setting up a Waffletown franchise in Pyongyang.
Soh declined to name the investor or say how much it cost to open the Pyongyang eatery, saying his main role was to set up the operation and train local staff to run Samtaesong.
A North Korean delegation paid a visit to Singapore early this year to sample the fare at a Waffletown outlet. "They came and tried the food and liked the waffle, burgers and fried chicken," Soh said over coffee at the outlet, located in an upmarket neighbourhood near Singapore's Orchard Road shopping belt.
"They find that we have a bit more variety than other typical burger chains and that we don't sell junk food," he said.
Soh made his first trip to Pyongyang in November last year, taking four days to survey the site and see whether the fast food concept was workable in one of the world's few remaining communist states. He was pleased to learn that the site was in a choice location in downtown Pyongyang, right next to a subway station and within walking distance of various universities.
He went back to Pyongyang in December to begin preparatory work for the opening of the eatery, from arranging the layout of the restaurant to listing the kitchen equipment and ingredients that needed to brought in.
The seasoning for the chicken and the waffle mix are among items imported from Singapore but other ingredients like beef and the chicken itself are sourced locally, with suppliers using his recipes for the burger buns and patties, Soh said.
The eatery buys soft drinks from shops that cater to the diplomatic community and resells the beverages in paper cups. Local workers are very intelligent and eager to learn, Soh said. "I don't need to spend much time to train them. I take about two, three days and they have a grasp of the work."
Since Samtaesong opened its doors in May, customers, including foreign students from China and Russia, have been streaming into the 246-square-metre outlet, he said.
"The locals come in and know the food that they want to order," said Soh. Prices are set in euros, but US dollars are accepted as payment. A "minced beef and bread" costs 1.20-1.70 euros (1.77 to 2.50 US dollars) and about 300 are sold each day, said Soh. The most expensive item on the menu is the crispy fried chicken at slightly under three euros.
The communist state's per capita income was estimated at just over 1,000 US dollars in 2008, but this is not denting Soh's drive to open more Samtaesong outlets in the country. He thinks North Koreans enjoy the novelty of the food and environment in his restaurant.
"This is new for them. It's just like when McDonald's first opened in Singapore."
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6. Peter Lim (Singapore's Remiser King)
Saturday, October 10, 2009
Peter Lim
WHEN the Singapore stock market took a sharp dive lastweek, it wiped out more than $100million of his stock's value.
But former remisier king Peter Lim did not lose sleep over it.
Why? 'I've been a stock broker for all my life - I've seen all the crashes, financial crisis, where really, it's only a paper loss,' replied the self-made billionaire.
'Just make sure you are not jammed with cash flow.'
Mr Lim was referring to his almost 5 per cent investment in Wilmar International which saw its share price move from a high of $3.78 to a low of $2.89 in the space of a month. The share price last closed at $3.
To him, his wealth is less important than his family and philanthropy. His attitude towards money is almost casual. It reflects his philosophy on investing and wealth.
For those who feel they are badly mauled by the current share doldrums, Mr Lim has this piece of wisdom to share: 'I used to say to my friends, 'When you are holding stocks, if it goes up, don't be too happy; when it goes down, don't be too sad'.
'Otherwise, how? Your life will also be fluctuating and you'll die of a heart attack.
'If you really lose sleep over it, maybe the best way is to keep the money in thebank.'
So what does he lose sleep over?
He replies with a laugh: 'My kids. Like other parents, I worry about what they're doing and whether they'll pass their exams.'
On Thursday, he made his debut in Forbes' latest rankings as Singapore's seventh-richest man, with a reported net worth of US$830m illion.
Mr Lim revealed that he intends to give a large part of his money to society later. How will Singapore benefit?
Through his pet cause: Education.
He made this revelation quite casually, as if he were talking about the weather.
He said: 'I think it's very likely (that) a big part of my wealth will be directed towards education.'
'It will be either a straight donation towards assisting educational institutions or maybe I'll set up a foundation.'
He supports Prime Minister Lee Hsien Loong's call at the recent National Day Rally for more Singaporeans to make charitable contributions.
Mr Lim echoed PM Lee's views that it is happening all over the world, and especially in the US.
'Asia is a bit behind because generally, when you have money, you think of your sons and your daughters when you die.
'But I think it has changed a lot here, principally because now, the wealth isbigger.'
He was reluctant to reveal his charitable contributions over the years, except to say that much of it was anonymous and that in the early '90s, he was one of the earlier donors to the National Kidney Foundation.
His friend, Mr Dennis Foo, chief executive of St James Power Station, later told The New Paper that Mr Lim not only donates money, he also takes it upon himself to deliver food, like rice and cooking oil, to needy families in one-room flats and old folks' homes.
Why education?
Mr Lim said: 'Education must be cheap and accessible to anyone.
'For me, I was the son of a fishmonger, but I could still go to the best school. I had the opportunity to make money. There's no discrimination.
'I think this policy of meritocracy actually works. It's very very fair and nobody cancomplain.'
The New Paper managed to get hold of Mr Lim last Wednesday, after his meetings and before he left for a short trip overseas.
The publicity-shy tycoon was extremely reluctant to talk about his wealth. It didn't help that he again made news recently with his involvement in one of Singapore's largest reverse takeover bids, with his investment vehicle Rowsley buying up a chunk of a China solar power company.
But he agreed after some persuasion. He met us at Brewerkz, which he also has a stake in, at Riverside Point two hours before his flight.
Dressed in a polo T-shirt which has seen better days, a pair of cargo pants and trainers, he certainly didn't seem to wear his wealth on his sleeves.
Why so casual? He replied that he plans to sleep on his flight.
Ironically, Mr Lim, who was one of Singapore's leading stockbrokers and is now a private investor, does not monitor the stock market every day.
He goes through the financial reports of companies; he watches financial news to get a summary of what is happening, but he does not track the daily ups and downs of the stock he owns.
He said: 'I only check in intervals, depending on the company.
'If it's a structured company, then (I check) when the results come out. For the bigger ones, quarterly results; for smaller ones, twice a year. But if it's a start-up, I'll check it more regularly.'
Mr Lim made headlines in the late-'80s as a star remisier, in the mid-'90s in his divorce battle and in early 2000 for his involvement in the first instalment of the Raffles Town Club court saga.
Much of his wealth now comes from a single investment: Palm oil.
In the early '90s, he invested about US$10 million in a start-up Indonesian palm-oil company, Wilmar. Today, his almost-5 per cent stake is worth more than US$700 million.
This is a far cry from his humble beginnings. When he was young, he said, he did not even have his own room in the two-bedroom government flat he shared with 11 others.
He grew up, with three brothers and four sisters, in one of Singapore's oldest public housing estates, Bukit Ho Swee.
His father was a fishmonger and his mother a housewife and the size of the flat was the equivalent of a three-room HDB flat today, hesaid.
He slept in the living room, or wherever he could find space to lay his mattress down for the night.
On his wealth now, he said: 'It's no different from what it was before I had the money. It makes no difference after apoint.
'Like what they say, you can only talk louder. You can only eat so much and fly so many trips.
'Money lets you enjoy a lot of things, but I don't think I'll die without money.
'I don't think I'm eating a lot better than when I was a lot poorer than now. I don't really go for very special kinds of food. I'm still very local. I like my mee siam, mee rebus and lontong.'
When his father died in the late '60s, when Mr Lim was 22 years old.
Mr Lim completed his secondary school education in Raffles Institution and was an officer in National Service.
It was then, at the age of 18, that he bought his first lot of shares.
Did he make a killing?
'In fact, I lost money,' he laughed.
But not much.
'I was only paid $385 a month, so I can't have bought, or lost, very much.'
He then went to Perth to further his studies at the University of Western Australia.
To fund his university education, he said, he worked part-time doing odd jobs as a taxi-driver, cook and waiter.
It was one of these jobs - in the Australian fast-food chain Red Rooster - that opened his eyes to how business was done.
'I watched how they started, how they grew, and how they scaled up.'
It was also in university where he honed his instincts and skills as an investor.
He graduated with a degree in accounting and finance and stepped out into the working world.
'My first job was as an accountant. It lasted three months,' he said with a chuckle.
He did some tax consultancy before he went into stocks, he said.
Mr Lim is in his element when dealing with numbers. 'It's something I'm very comfortable with, something I understand.
'Give me any numbers. I look at (them) and I'm happy. It can be in any industry. You give me the numbers; somehow I can figure it all out.'
His secret to investing is...
WHAT is Peter Lim's secret to successful investing?
Prospect, he replied.
He looks at sectors.
'Like if I think solar is good, I go into solar; if I think palm oil is good, then palm oil.
'Share prices go up because the sector grows. So if I think this sector is going to be good in the next 10 years, then I'll just invest in it.'
Another key reason for his success, he said, is patience.
Mr Lim, who also acts as a consultant to companies and helps them find multi-million-dollar investors, does not subscribe to buying one day and selling the next to cash in.
His advice to young investors: 'You have to invest with a longer-term mindset. You buy a good stock, leave it there for 10 years. Come 10 years, this dollar can be many, many multiples.
'I think the trick is really to think long-term.
' You may not have a lot of money, but you have a lot oftime.'
'The minimum length of my investments are five to six years, if not 10 to 12 years.'
He cites the example of his condominium.
He owns an entire 11-storey block at prestigious Ardmore Park, near Orchard Road. He and his wife, with his 85-year-old mother, live in one apartment, while three other maisonettes and the penthouse sits empty.
'I bought it in 1994 for $13m and I just hold there and wait. With the current property market, it is worth more than $100m.'
Same with Wilmar, which he invested in in the early '90s. It was then a US$10m investment. Now, his stake is worth some US$700m.
Other Search Queries:
1. Peter Lim - New Owner of Valencia
2. Peter Lim offers $750mil for Liverpool
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How Much A Blog Post is Worth
I calculated the amount that I have earned from online income and based on my computations, each single blog post is worth an average of $0.20. That means that each blog post is roughly earning me 20 cents everytime I publish it.
As I did not set up dedicated channels to track my earnings, I can never know for sure which are the blog posts that are giving me better returns.
There are service providers out there that actually write articles for your blogs for a fee. This can be as low as $5 for a 300 word article or as high as $7 for a 500 word article.
But if you are thinking of employing their services, think again! You might not be able to break even unless you have a really good strategy in mind.
And that is perhaps the reason why these service providers are not writing articles for their own blogs or websites. It is much more profitable to sell articles than to earn money from articles that are published on a website or blog.
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Friday, October 9, 2009
Retire Young Retire Rich
I read it 6 or 7 years ago and decided to do some re-reading to see how far I have followed Rich Dad's advice.
Why I first started reading the Rich Dad Poor Dad series is simply because Robert Kiyosaki started out with nothing and achieved financial freedom in nine years when he retired in 1994. He started with nothing and exited with $85,000 to $120,000 a year in income which came solely from investments. He was not rich but he was financially free as his yearly expenditure was only $50,000.
Reading just the introduction of the book Retire Young Retire Rich, I realised how I have not followed what he had been telling me to do. In a sense, I had only remembered one key thing from Rich Dad Poor Dad: Buy Assets.
In the introduction to the book, 2 important points are made about money.
The first important word about money is Cash Flow. The second most important is Leverage.
I realised that I sort of understood the cash flow portion but have somehow neglected the portion on leverage. As Rich Dad says: "Leverage is the reason some people become rich and others do not become rich.....Becuase leverage is power, some use it, some abuse it, and others fear it."
It seems like over the years, I have sort of feared the power of leverage. I have not made use of good debt. Instead, I have gotten myself into bad debt by buying a car and a house - both are liabilities as they are taking money out of my pocket.
Good debt makes you rich, Bad debt makes you poor. That is the power of leverage and it is something which is just head knowledge to me and not something that I have applied in my life.
In this book, Robert Kiyosaki outlines that leverage takes place in your mind, your plan and your actions. He also outlines the three assets that make people rich and allow them to be retire young.
I will be exploring and re-reading this book again in the next few weeks. Do drop by again to see the lessons that I have learnt!
Read Releated Posts:
1. Key Lessons from Rich Dad, Poor Dad
2. Donald Trump Lessons
3. David Bach Automatic Millionaire
Thursday, October 8, 2009
Independent Financial Advice
It seems that very soon, it might be possible for clients to choose independent asset managers who charge a fee for advice instead of bankers who earn a commission from the products they sell.
These independent asset managers should be differentiated from the independent financial advisors (IFAs). IFAs are not truly independent as they still earn based on the commission of the products they sell. Only some IFAs charge clients based on a fee for advice.
A greater number of people prefer to work with independent managers rather than bankers because of potential cost savings and most important of all - independent advice.
The recent Lehmann fiasco and stuff have warned consumers that banks might not always have the customers best interests at heart. This is especially so when there is a potential conflict of interest as the banker seeks to enrich himself by selling high commission products.
In my opinion, ethics should also be placed as a far more important trait than knowledge. Better to work with someone who has ethics instead of knowledge.
A person who acts with integrity will give you the best advice that is suited for you. A person with good knowledge but without any ethics might recommend financial products that are not suited to your needs.
I dug out this article from Smart Investor which I read sometime back in November 2008. The advice in it is timeless. The title of the article is "What to Ask When An FA Recommends A Product."
Do bookmark this page so that you know what are the questions to ask the next time a banker or insurance agent recommends a product to you.
These are the questions to ask before purchasing any financial product from anyone:
1. Why is this product suitable for me?
2. What type of product is this? Is it a whole life policy, unit trust or structured depost? Is it for savings, investment or insurance protection?
3. What benefits does this product offer? Which benefits are guaranteed and which are not?
4. What instruments does the product invest in? How risky are these underlying investments?
5. Is this product suitable for individuals with low, medium or high risk profile? What is my risk profile?
6. How much do I need to commit to this product? Is it a one-time payment or regular payments? What is the penalty if I am unable to make the payment?
7. How long must I stay invested? What are the penalties, restrictions and procedures if I decide to liquidate some or all of my investments earlier?
8. What are the fees and charges? Will there be changes in the fees in the future?
9. What alternative products offered by the same company has similar benefits? How does the recommended product compare with alternative products?
10. Are you licensed to sell me the product? Who can I find if you are no longer working in the industry?
11. Can I monitor the performance of my invesment? How? Will I receive reports and updates on my investments? How often will these updates and reports be?
12. Is there a free look period if I decide after signing on the dotted line that this product is not suited for me? Can I get ALL my money back or are there certain penalties?
In simple words, always ensure that you understand the investment product before purchasing it. Understand why you are buying it and how it fits into your overall financial plan. Take time to consider whether this product meets your needs before finalising your decision. Do not feel pressured to make a decision or make a decision on the spot when you are not prepared for a long term committment.
Wednesday, October 7, 2009
Ris Low and Claire Lee
What's up with the news surrounding Miss Singapore winner (Ris Low) and first runner-up (Claire Lee)?
First, Ris Low was found guilty of credit card fraud which she failed to declare when she took part in the competition. Ris Low was also said to be suffering from bipolar disorder which was what resulted her in getting a 24 month probation instead of jail time. She was subsequently forced to give up her title after she insisted that she wanted to keep the crown.
Next, she went on to say that Claire Lee had backstabbed her by reporting her to the media and faking a back injury to save "face" in case she was not selected as the replacement.
Today, I read the news that Ris Low was ordered not to go shopping alone as part of her 24 month probation for the credit card fraud. She apparently also has to retake an examination because of notes that were found in her pencil case which she forgot to remove during the actual examination. Perhaps its the bipolar disorder at work again.
Now, I read the news that Claire Lee, the first runner-up, does not want to represent Singapore unless ERM (the organising company), threatens to sue her.
This really makes me wonder on the quality of girls that are being chosen to represent Singapore.
They entered Miss Singapore to represent Singapore correct? So what is the whole fuss about now? Why doesn't Claire Lee want to represent Singapore anymore? Who is going to fly to South Africa in one month's time to represent Singapore?
Perhaps it is time for the governement to step in. Perhaps create a Miss Singapore Academy. Get it ISO certified and stuff. Throw in the scholarships and stuff and who knows, we might win one of the next Miss Universe. Perhaps that should be our Goal 2020!
Instead of throwing so much money into football, why not just invest in grooming the next Miss Singapore who can do the whole nation proud and perhaps win Miss Universe?
There is of course the temporary problem of sending someone in for 2009's Miss Universe.
With less than 1 month to prepare, we will need someone who knows how to put on make-up, be vocal enough to speak her mind, be well-travelled, well-liked (by the Singapore public) and of course well-dressed.
I am proposing that we send blogger Xiaxue (aka Wendy Cheng) to represent Singapore. She is sure to make a huge impact for us. Heck, she could even help all the other contestants photoshop their photos before it is published in the newspaper and stuff.
Read Claire Lee's blog here
Read Related Posts
1. Ris Low's Bipolar Disorder
2. Why is Xiaxue so Popular
Tuesday, October 6, 2009
Passive Income Update
My updated portfolio for passive income (end September 2009) is as such:
1. 12,000 x Ascott REITs (DPU = 3.55 per half) = $71.00 per month
2. 17,000 x First REITs (Annualised DPU = 7.66cents) = $108.51 per month
3. 11000 x Suntec REITs (Annualised DPU = 11.94cents) = $109.45 per month
4. Maybank iSavvy Deposit = $8 per month
5. Online Income Sources = $30 per month
Total Estimated Passive Income = $326.96 per month
See Related Articles:
1. I Received over $1000 in Dividends for August 2009
2. Passive Income Sources
Norway is Best Country to Live In
The United Nations Development Programme (UNDP) index was compiled using 2007 data on gross domestic product (GDP) per capita, education, and life expectancy, and showed marked differences between the developed and developing world. It was published as part of the UN's Human Development Report (HDR) 2009
Japan, staying in 10th, was the only Asian country in the top 10.
Singapore ranked 23rd, swopping places with Hong Kong at 24th.
South Korea and Brunei came in at 26th and 30th respectively, retaining their previous positions.
Top 10 Most desirable countries to live in(2009):
1. Norway
2. Australia
3. Iceland
4. Canada
5. Ireland
6. Netherlands
7. Sweden
8. France
9. Switzerland
10. Japan
Least desirable countries to live in
173. Guinea Bissau
175. Chad
176. Democratic Republic of the Congo
177. Burkina Faso
178. Mali
179. Central African Republic
180. Sierra Leone
181. Afghanistan
182. Niger
Monday, October 5, 2009
Financial Freedom is a Taboo Topic
Many Chinese prefer to keep their finances a secret. They do not wish to reveal how much they earn, how much they save and how much they have in debt. It is sort of a taboo topic that is not spoken of.
So even in families, parents do not teach their children about how to manage their finances. Even if they do, it is just simple concepts like : SAVE MONEY, EARN MORE, etc ,etc. Very seldom will a parent give a child a case study of how much the family is actually earning, how much they are spending, their strategies to accumulate wealth and much more.
This could be the death of wealth accumulation and preservation in Chinese families if this continues.
Even amongst friends, we seldom discuss about financial planning. We are only interested in talking about how to make money and WHO and WHO made how much in the stock market.
There is no true interest in how one can move towards financial freedom and the simple strategies involved.
Interestingly, it is only on the internet that you see such openess. But this openess is limited in the sense that most bloggers also do not share very intimate details about their finances.
This is what my blog was created for. I share my finances with all to see, for all to comment and for all to learn.
If you are willing to serve as a case study for all to learn from, do let me know. I can keep your name confidential if you will like. All I need is just your monthly income, monthly expenditure and current networth breakdown.
Do drop a message in the chatbox or comment here if you are interested in sharing.
Passive Income True Potential
Building passive income online can be a great opportunity to take control of your personal finances. It typically requires a lot of hard work up front to get the income stream created. If you have built a solid income source, then your hard work will pay off down the road. But how can you tell the potential of your time and effort spent? By projecting out your earnings per hour and comparing it to other income sources.
I recently completed a personal challenge that required me to write 100 eHow articles in 1 month. While I did not reach my 100 article goal, I still finished the month with 72 published articles. In order to see the true potential of the time I spent writing these articles, I can project out my earnings for one year.
eHow Dollars per Hour Earnings
In the first month of writing these 72 articles, my eHow Earnings totaled $124.27. I spent 42 hours writing these articles which calculates to ~$2.95 per hour. I will admit that there is nothing special about earning $2.95 per hour. However, if you project these earnings out over the course of 12 months, you may change your mind.
I am in the 2nd month of collecting earnings after creating this passive income online source. The beautiful thing about this income stream is that I will earn a projected ~$128.63 from these same articles this month with no time spent on my part. That pushes my earnings over $6 per hour!
If I were to assume that these articles could continue to earn the same amount each month for 1 year, my earnings jump to $36.13 per hour. I could keep going, but you get the picture. Earning over $30 per hour (and possibly a lot more over time) is absolutely worth my time and effort when compared to my active income earnings.
Active Income Dollars per Hour
My current job that is earning active income is a salary position with a company that comes with health benefits, a 401k match, as well as a steady paycheck. Based on a normal scheduled of working 60 hours per week, I earn around $24.95 per hour (not factoring in any benefits).
Lately, because of staffing cuts and projects, I have been working closer to 70 hours per week. If I were to calculate my earnings per hour rate based on one full year of working at this pace, it would come out to $20.80 per hour.
Comparing the Income Sources
If I were to ask you – Would rather earn $30 per hour or $25 per hour? What option would you pick?
Obviously there are several assumptions in these calculations that I have provided. Health insurance coverage and 401K employer matches are not factored into my active income calculations.
I am also assuming that I can maintain the current earnings rate for my eHow articles. Who knows, the company could go under tomorrow and those dollars would go away. But who is to say that my employer couldn't do the same?
By projecting out your passive income online earnings, you can easily compare them with other income sources. These calculations can be an excellent motivator to keep pushing you along!
How much is your active income job really paying you?
The original article can be found here: http://www.passivefamilyincome.com/2009/09/18/passive-income-online-earnings/
See Related Articles:
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2. Passive Income Sources
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text:
Cognitive load in percentage change problems : Unitary, pictorial, and equation approaches to instruction
Publication Date
Publication Details
Ngu, B. H, Yeung, A. S & Tobias, S. (2014). Cognitive load in percentage change problems : Unitary, pictorial, and equation approaches to instruction. Instructional Science,42(5), 685-713. Retrieved from https://doi.org/10.1007/s11251-014-9309-6
Eighth grade students in Australia (N = 60) participated in an experiment on learning how to solve percentage change problems in a regular classroom in three conditions: unitary, pictorial, and equation approaches. The procedure involved a pre-test, an acquisition phase, and a post-test. The main goal was to test the relative merits of the three approaches from a cognitive load perspective. Experimental results indicated superior performance of the equation approach over the unitary or pictorial approach especially for the complex tasks. The unitary approach required students not only to process the interaction between numerous elements within and across solution steps, but also to search for critical information, thus imposing high cognitive load. The pictorial approach did not provide a consistent approach to tackling various percentage change problems. Coupled with the need to coordinate multiple elements within and across solution steps, and the need to search for relevant information in the diagram, this approach imposed high cognitive load. By treating the prior knowledge of percentage quantity as a single unit, the equation approach required students to process two elements only. Empirical evidence and theoretical support favor the equation approach as an instructional method for learning how to solve percentage change problems for eighth graders.
Institute for Positive Psychology and Education
Document Type
Journal Article
Access Rights
ERA Access
Access may be restricted.


text:
The Vegetarian Myth
by Lierre Keith
We've been told that a vegetarian diet can feed the hungry, honour the animals, and save the planet. Lierre Keith believed in that plant-based diet and spent twenty years as a vegan. But in The Vegetarian Myth, she argues that we've been led astray - not by our longings for a just and sustainable world, but by our ignorance.
The truth is that agriculture is a relentless assault against the planet, and more of the same won't save us. In service to annual grains, humans have devastated prairies and forests, driven countless species extinct, altered the climate, and destroyed the topsoil - the basis of life itself. Keith argues that if we are to save this planet, our food must be an act of profound and abiding repair: it must come from inside living communities, not be imposed across them.
Part memoir, part nutritional primer, and part political manifesto, The Vegetarian Myth will challenge everything you thought you knew about food politics.
Lierre Keith is a writer, small farmer, and radical feminist activist. She is the author of two novels and is currently co-writing a book with Derrick Jensen and Aric McBay about strategy for the environmental movement. She splits her time between Northampton,MA and Humboldt, CA.
"This book saved my life. Not only does The Vegetarian Myth make clear how we should be eating, but also how the dominant food system is killing the planet. This necessary book challenges many of the destructive myths we live by and offers us a way back into our bodies, and back into the fight to save the planet." - Derrick Jensen, author of Endgame and A Language Older Than Words. Flashpoint Press was founded by Derrick Jensen to ignite a resistance movement, embracing the necessity of all levels of action.


text:
四 15, 2011
opportunitists 投机分子[tou ji fen zi]
1. 现在政府也在做当代艺术了,有很多投机份子在做这个事情,画廊疯狂地加入。
Now the government is into contemporary art too, a lot of speculators are into this, and there's the gallery frenzy, a dozen of new galleries would turn up here every day.
(摘自徐坦对孙原,彭禹的访谈 Excerpt from Interview with Sun Yuan, Peng Yu)
Interviewed: Wang Guanzheng
Time: Noon, Feb. 3, 2007
Location: Grass Green 2607, SOHO Modern City, Beijing
整体 totality total picture overall 12
集体(主义) collectives collectivity 11
一致 homogeneity homogenous 7
时间 time period period of time 15
社会 society social societal 26
个人 individual individualistic 30
经验 experience 13
公共 public 11
大众 public (populace) 15
倾向(性) tendency inclination 7
语言 language 9
怀疑 doubt suspicion 5
质疑 suspicion question questioning 10
方法 method way 17
方式 manner way 43
(有)问题 problem questionable issue 54
变(化) change become modification 8
状态 status 8
秩序 order 8
判断 judgment judges 20
创造(性) creative creativity 4
知识(分子) knowledge intellectuals 11
明确(性) clarify clarity clear 20
针对 focus 9
角度 angles 5
态度 attitude stance 9
身份 identity 22
后身份 post-identity 9
可能性 possibilities 14
话语 discourse 5
权力 power 5
实验 experiment 6
国家 nation 6
概念 concept
独立 independent 1
意识形态 ideology ideologism 11
(不)安全 safe unsafe safety 4
审批制度 censorship system 1
市场 market 8
传统 traditional 5
中国 China 31
(有)钱 money wealthy 2
机会 opportunity 8
诱惑 temptation 1
后 post 33
关系 relationship 39
生存谋生 survive living 4
商业的 commercial 2
Q: Could you please first talk about your view on the current state of contemporary art in China?
A: On a macro level, I think we are now in the middle of a process of development. And this is a process of undergoing a transition from seeing the total picture to getting to know individual artists and individual arts, a stage from which I feel we are still very far away. There are pros and cons when a country's contemporary art scene appears as a group. The good part is that it attracts more audience and more attention, and the negative part is that it can only appear as a totality. And that, to me, is a problem, which also points to the difference between traditional art and contemporary art. Think about it – over a decade ago, the image that Europe had about Chinese art was an overall impression. If we were to continue our insistence on this totality, it could end up replacing materials or images of one kind with those of another kind– for example, dragon, phoenix, bamboo, porcelain, silk were used in a certain period, which were, eventually, replaced by some other materials. This is the risk you have to take when you present yourself as a totality. I myself am frightened by collectives, because I used to serve in the military, and I lived together with over 60 persons for many years. I'm left with two aftereffects from that experience. The first one is my hatred for homogeneity. I think I'm naturally immune to all things homogenous, either internally or externally. Basically I think a positive view on homogeneity is itself questionable. The second one is my suspicion for collectives.
Q: What then should an artist focus on, in your opinion?
A: That would be different to each artist. For myself, what I'm interested in is, simply speaking, possibilities. Like I just said, my suspicion for the existing order, and if I question order, which includes any form of order: governmental order, societal order, knowledge order and rules, if you [think this way] take this attitude, then what we often discuss, insofar as where art is now, is no longer important. What's important is [how] the way you display your method of questioning such orders.
For instance, through the clarity of commercialization and ideology (we) can understand the society in the simplest way. These have become our internalized way of recognizing the world, i.e., the only Weltanschauung. For me, I call this "New Ideologism," which is a perfect collusion between commercial standards and political standards. It has a monopoly on everything. In that case, I think the way that contemporary art judges the uncertainties, can hardly survive in such a language context. And what is most fatal, I believe, is that when an ethnic group wants maximum progress… The maximum lies in your demands for possibilities. And possibility can exist only in uncertain domains. When everything in this world is within your grasp, when it offers you no possibilities, do you think you still have creativity?
Q: In these exhibitions, do you care about the communication between your work and the audience?
A: As a matter of fact… this involves a lot of questions. The first one is what we discussed earlier: whether the public exists or not. We always talk about art and the public. But first of all, does the public exist? Take our talking for example, are you the public or am I the public? If you are and I'm not, then why? On the other hand, if I am and you're not, then what is that based upon? If neither of us can find a clear basis, then we both are the public. Then it does not exist a kind of…The artist and the public are always form a special relationship. This is the first question, which in itself is very conceptual.
The second question is, if there really exists a relationship between the artist and the public, then in fact the public is not communicating directly with the artist. The public and the artist…If we are to discuss relationship, then we need to talk about the system that underlies the relationship. The first system is the education system. Yet our educational system does not support any education on contemporary art… And secondly, in China, strictly speaking, we do not have any art museums – all our museums are organizations that rent spaces in order to survive. And such spaces do not bear any responsibility to educate the public. Consequently, our media always interpret the art experiences as a kind of public voice. Now think about it, the principal relationship between the public and the artist is formed under such circumstances. As a matter of fact, the relationship is produced by these three different systems. If the systems cannot be established, then you can imagine what the relationship will be look like. The third question is that I don't think there exist a stable relationship between artists and the public.
Q: Do you have any views on your living conditions?
A: Take our views on cities for example. Artists, intellectuals, and even architects, all talk about cities, but what makes it absurd is not the criticism on cities, but the way of criticizing cities that has become completely homogenous. Sometimes criticism on this city becomes very homogenous, without any characteristics and distinctions. What's more interesting is, the language and method of criticism have become more homogenous. I've attended many symposia on cities, which are essentially "criticizing galas". And suddenly I noticed two things here: first, it's very safe to criticize the city, from whatever angles. You can criticize it fiercely or call it bullshit. Because it's very safe, because it does not involve any people, nor anything concrete things, and at the same time it declares your critical stance. This, to me, is opportunistic way. So, in such contexts, I always refuse to criticize in this manner, because it turns into a collectivity, a way of proving your stance – if you don't criticize, you're not… So, now I think another question arises. To criticize cities, but why? The English word "Why?" What is your stance? I hope to see you speak in your own manner, instead of in a public manner, even though what you criticize is a public space. With such an attitude, I think you can have your own judgment on this city. As a matter of fact, to me, cities are man-made landscapes, a product of our Utopian spirit. Idealism and Fascism are on this line, this steel wire; in fact, our entire city is built on this steel fire, its Utopian spirit and Fascist inclination just have a little distance. On this issue, what exactly is your attitude? Whether you're an artist, a writer, you would use your own language and your own way to present your attitude. And it's not just a declaration of attitude, because I've been hearing a lot – about this "attitude decides everything" thing, which is actually full of problems itself. Because "attitude decides everything" means it all depends on whether you raise your hand or not on every issue. That means going back to a public… In fact, when I worked on "Production" in 1996, I did an investigation on this issue. Why did I go to a lot of sites and public spaces? Why did they sit there all day and listen to the others talking about themselves? They are in fact sharing a daily discourse. In other words, certain individuals have become unimportant in such voices, or that they think it unsafe, so that through this collective site and collective discourse, certain individualistic things are transformed into a public voice with some [attitude] tendency. Thus, everyone shares this safety of public discourse. It's the same with different ways of living. I think, first of all, living is not a kind of conceptual living; you don't have to be lured by some hidden temptation, or challenged by some hidden theory. You put your life on a certain hint, and this hint reveals your cultural attitude of some sort. I think this is quite obvious in Beijing, and this is realized concretely in dressing, cigarettes you smoke, eyeglasses you wear – they are all injected with some kind of cultural identity. And I think cultural identity is also lethal: sometimes your attitude is determined by your cultural identity; when you become satisfied with your representing certain cultural identity, you actually stop thinking any further… This is how I feel I am living.
Q: Does the generalization of the Chinese art scene by those outside China have something to do with the situation in China now? And, apart from the external forces, does the strong similarity among artists actually have its internal reasons?
A: Well, actually I think, to me at least, this question… Like just now you wanted me to talk about my judgment on this thing at the present moment and what the basis of my judgment is. For example, sometimes we say a day is a long period of time, but that depends on specific events, such as brushing one's teeth once, having a meal, which might take an hour. That is the relationship between time and events. But when something cultural is judged, or judged precisely, I think the time involved here is very long. Actually it's like our show in 1997… all the way up to now. As you just said, this overall judgment on contemporary art in China, it's still going on strong. I feel that this process takes more than ten years to finish; it might continue, because of the relationship between China and the world, such development… So actually culture development is very very slow, especially in this country, where you see sometimes on the streets very fashionable cars and very fashionable cellphones, but many of our cultural institutions and regulations in fact date back to more than 20 years ago, without any modification in between. I'll give you a simple example – films. Our censorship system on film has stayed virtually the same, and perhaps even more… Therefore, there is a large amount of things this society.. in fact, what have not changed do not show up, so what we do see are those that have changed. Then, seen from this angle, this society has in fact let certain things return to a basis where there are no such huge differences, which takes a very long time (to change). On the other hand, I think contemporary Chinese art is facing this same problem. And I don't know if you've noticed, when we were in the Netherlands, after the exhibition, I remember clearly, we felt shows of such large scale wouldn't be happening ever again. Then, ten years later, to our great surprise, there are shows even more shocking than that one. There might be two factors at work here: the first one is that more countries, or more organizations, or more wealthy people have become interested in China, maybe then, partially… for instance, a certain genre of art, a certain foundation, started to get interested in the overall contemporary Chinese art. Now, due to the myth of China, more people and organizations have focused on China from various different angles. This might be another kind of change. Second, as more people get involved in this field, more artists would… they would make a relationship with it. This is a process that we must undergo; and I have noticed at the same time, that many artists have already started their work, who I think outnumber those of ten years ago.