Daddy M & M

"You won't believe what I just heard," my brother started, his voice heavy. "My friend... he drowned in Vietnam. A strong swimmer, too. It's a tragic irony, really. You know how some people are naturally gifted in the water? They become so confident, they seek out bigger challenges. But the ocean doesn't care about your local pool records. A familiar sea is nothing like a foreign one, with its unknown currents and hidden depths. That overconfidence? It can be a death sentence." His words brought back a vivid memory. "Langkawi, when did your mum and I go? The tour took us to a beautiful island with a hidden lake. A big lake with deep water. I put on a life jacket, even though I can swim. Something about that dark water made me uneasy. I paddled around for a bit, then called it quits. Your mum, though? Fearless. I was picturing unseen dangers lurking below." "And it's not just deep lakes, even the familiar shores of Singapore can be trea...

The headlines grabbed my attention: a wealthy individual, with an eccentric vision, drafted a will that would delay the distribution of his fortune for a century. Intriguing, right? But the devil, as always, was in the details. The news casually mentioned that the lawyer entrusted with this bizarre mandate had sold off the properties and deposited the proceeds into a bank account. That, to me, was a glaring red flag. Imagine the lost potential. Real estate, especially in prime locations, tends to appreciate significantly over time. By liquidating these assets and placing the money in a bank, the descendants were robbed of substantial long-term gains. Inflation alone would erode the value of that cash over a century. This case serves as a stark reminder: even with the best intentions, poorly executed estate plans can lead to devastating financial losses. Contrast this with the story of an Arab trader whose opulent Orchard Road residence was transformed into a rental property. The asset ...

The "100-minus-your-age" rule, a seemingly simple guide to asset allocation, has misled countless investors. It suggests that your stock percentage should decrease as you age, favoring bonds and other "safer" investments. However, this simplistic formula overlooks crucial factors and can lead to significant missed opportunities. Let's dissect why this rule is fundamentally flawed: 1. The "Good Company" Paradox: Imagine you've diligently researched and invested in a company with a proven track record, strong fundamentals, and promising growth potential. According to the 100-minus-age rule, you'd be compelled to gradually sell off these shares as you approach retirement. But why? If the company remains strong, why abandon a winning strategy? The only logical reason to reduce your holdings is if you doubt the company's long-term prospects or if you need to protect your gains from excessive risk. This rule assumes all companies are equal and th...

I have a peculiar habit: whenever I delve into a company's annual report, I'm drawn to the list of major shareholders. It's like a treasure hunt, searching for intriguing names that whisper stories of the past. Take SBS Transit, for example. While browsing their shareholder list, I stumbled upon "Changi Bus Company (Private) Limited." Intrigued, I dug deeper and unearthed a fascinating piece of Singapore's transportation history. This wasn't just any bus company; it was the "mosquito bus," a humble operation that predated modern Singapore. Imagine my surprise to learn that the government, recognizing its importance, orchestrated its merger, transforming it into the SBS we know today, a powerhouse encompassing both buses and rail. This company, born 77 years ago, holds 691,548 SBS shares, a testament to its enduring legacy. At a price of $2.41, that's an investment worth $1,666,630.68! Your god-grandfather used to ride those "mosquito bus...

Back in my diploma days, diving into the world of virtual reality was a mind-bending experience. It wasn't just about cool graphics; it was a profound lesson: "Don't trust what you see and hear – it can be fake." This was a stark reminder, a seed planted in my mind. Fast forward nearly three decades, and that seed has sprouted into a towering tree of caution. With the rise of AI, the lines between reality and fabrication have blurred to an alarming degree. My own voice, my own persona, could be replicated and weaponized. This became terrifyingly real when a friend of mine almost fell victim to a sophisticated scam. A voice, eerily similar to mine, contacted him. The conversation seemed casual, friendly, until the inevitable pitch: an "exclusive" investment opportunity. Thankfully, my friend's intuition kicked in. He knew I'd never push investments like that. This incident solidified my personal rule: any request for money via WhatsApp or SMS triggers...

Imagine you're navigating a dense forest of financial reports. Suddenly, you encounter a signpost labeled "IFRS 16 Mortgage Amortization Schedule." My original sentiment suggests: "Unless this path leads to a treasure trove (a massive, company-altering impact), why bother? Let's stick to the main road." This viewpoint stems from a practical approach: prioritization . Diving deep into the intricacies of IFRS 16's amortization schedule, which dictates how lease liabilities are recognized over time, can be incredibly time-consuming. For many, the return on this invested time might not justify the effort. Think of it like this: The Accountant's Deep Dive: If you're aiming to become an accounting expert, understanding every nuance of IFRS 16 is essential. It's like a surgeon mastering every intricate muscle and nerve. The Business Observer's Bird's-Eye View: For most people, especially investors or business managers, a high-level under...

Our kids' school has a rule: no fancy stuff. It's a smart policy designed to minimize distractions and, perhaps intentionally, curb the green-eyed monster of envy. This got me thinking about how envy, that primal human emotion, can wreak havoc on our investment decisions. It's so powerful, it even made it into the Ten Commandments! As Charlie Munger wisely pointed out, while a little envy can motivate us to improve, excessive envy – like the kind that makes you miserable because your neighbor has a nicer car – can be utterly destructive. Think about it: have you ever felt a pang of jealousy when someone brags about their stock market wins? I remember a friend's wife giving her husband some money to invest after his early bet on NVIDIA, long before the AI craze took off. She thinks there is a higher chance to reap the same success. There's an old fable that perfectly illustrates the insidious nature of envy. God offers a man a wish, but with a catch: his neighbor w...

Charlie Munger's wisdom rings especially true in times of crisis: steer clear of companies drowning in debt. Why? Because when the storm hits, those are the first to sink. Cash is king, and a robust war chest ensures survival. A year into the Covid-19 pandemic, the storm rages on, with rising case numbers and continued uncertainty. Thankfully, our own ship has weathered it well. Our jobs remain secure, and our debt load is minimal – we could, in theory, pay off our house if we chose. But for many, the situation is dire. Years of financial mismanagement and excessive leverage have left them vulnerable and desperate. This principle extends beyond businesses to personal finances and even investment strategies. Investing with money you don't need provides a crucial buffer during market downturns, allowing you to ride out the volatility. The pandemic has brought these realities into sharp focus. I witnessed a stark example: a spacious 3.5-story landed house with 5 bedrooms, sold f...

Imagine a life where financial security wasn't a distant dream, but a solid foundation. I recently encountered a fascinating concept, championed by figures like an NBA player, that boils down to a simple yet powerful rule: save 75% of your income. The remaining 25%? That's your playground – cars, dream homes, helping loved ones, whatever your heart desires.  This rule acts as a powerful brake, preventing the reckless squandering of hard-earned money, especially for those whose peak earning years are fleeting. It's a safeguard against the "live fast, die broke" mentality that plagues many. Conversely, it also prevents the opposite extreme: hoarding every penny and denying yourself life's necessary joys. It's a balanced approach. Furthermore, it serves as a crucial training ground for the inevitable day when your steady paycheck vanishes. If you're accustomed to living within a strict budget, the transition to a fixed income will be far less jarring.  Th...

I stumbled upon an online article that initially captivated me. It was a classic rags-to-riches narrative: a man recounts breaking up with a wealthy girlfriend, battling his traditional grandparents over modernizing their medicine, and his almost ascetic approach to spending.  Every anecdote painted him as a resilient, resourceful underdog. I was hooked. Then came the punchline: his company, an astrology prediction service. Suddenly, the whole narrative felt tainted. The "authentic" story reeked of a meticulously crafted, soft advertisement.  The emotional hooks, the relatable struggles – all likely calculated to lure readers into his astrological web. It was a lengthy story, and frankly, I wouldn't usually invest so much time dissecting my own online. Unless, of course, I were writing for my kids, trying to impart a valuable lesson. (Even then, I'd be less concerned with perfect grammar and more with the core message.)  After some reflection, the pieces fell into pla...

Remember that tale I shared with my boy about the Hainanese Chicken Rice? It wasn't just a food story; it was a lesson in ambition and relentless improvement. A reporter had interviewed a stall owner, a non-Hainanese, who served up incredible Hainan chicken rice. How did he learn the craft? Simple: he observed. His shop sat right beside an Hainanese Chicken Rice vendor. Day in and day out, he watched, absorbed, and learned.  The original stall, sadly, struggled, eventually leading the owner to throw in the towel. But our protagonist? He seized the opportunity. He took over the stall, and here's the kicker: he didn't just replicate the recipe. He perfected it. His chicken rice became a sensation, eclipsing the original and drawing crowds.  This story is a powerful reflection of life. How often do we possess potential, yet fail to fully realize it? We settle, we stagnate, while others, perhaps less experienced, surpass us through sheer dedication and a drive for constant imp...

I believe in insurance for the essentials: hospitalization, life, and term – ensuring my family's security if the unexpected happens to me. But those investment only policies? Not so much. I've seen friends trapped in them, paying monthly premiums for decades, only to receive a trickle of returns (RM 2000) that barely justify the effort. Even my ACCA-qualified friend, despite recognizing the poor returns, felt compelled to continue due to the sunk cost – a testament to the complex psychology of money. Recently, I stumbled upon a financial blogger boasting about an insurance policy for his 7-year-old son: a lump sum of RMB 17,335, promising a mere RMB 520 annually after ten years. Yes, annually! The benefits increase over time, but the returns are shockingly low. This policy has minor death benifits, the most is 2 times the lump sum after 46 years old! This sparked my curiosity. What if that RMB 17,335 was invested in something like Coca-Cola? At a modest 2.82% dividend yield, t...

Singapore's Toto, the sole legal betting entity, according to it's financial report - raked in a staggering S$12.2 billion betting revenue in 2024, a jump from S$11.4 billion the year before. If we assume five million Singaporeans/PR/Work Pass holder are placing bets, that's an average of S$2,442.80 per person annually, or roughly S$203.56 each month. We all dream of striking it rich, but let's be real: the odds are stacked against you. My friend showed me the math using nCr formula– with 49 numbers and a six-pick system, you're looking at a 1 in 14 million chance. Why do we think we'll be the exception? Even someone immersed in the industry sees the long odds. My ex-boss's father-in-law ran a Toto shop for 3 to 4 decades, selling tickets daily, yet never sold a top prize winner. So, why do people dropping an average of S$2,000 believe they'll beat those odds? Psychology plays a huge role.  Gambling is a dangerous game, potentially leading to crippling d...

Imagine a developer building a new property project. They rarely have the cash to fund the entire project themselves. Instead, they rely heavily on loans, often secured against the land itself. Think of it like this: the bank essentially owns the land until the developer pays back the loan. This is especially true with "progressive billing" projects. Developers sell units before construction is complete, but they still get paid at each stage of the building process. This shifts the risk to the buyer (and their bank, if they're taking out a mortgage). The developer gets a steady stream of income to carry out the construction. So, why not just hold onto the completed units and wait for prices to rise? Because the developer has bills to pay! They have loan repayments (with interest!), contractors to pay, and suppliers to reimburse for materials. If sales are slow, they can get into serious trouble. The bank wants their money, and if the developer can't pay, they could fo...

In the world of project management, there's a fundamental concept known as the "project management triangle" (sometimes called the "iron triangle" or "triple constraint"). It highlights the inherent trade-offs involved in any project. You want it fast, good, and cheap, right? Unfortunately, this is rarely, if ever, achievable. The Three Sides of the Triangle Fast: You need it done quickly, within a tight deadline. Good: You demand high quality, meeting or exceeding expectations. Cheap: You have a limited budget and want to minimize costs. Why the Triangle Is Impossible (for Projects) The project management triangle dictates that you can only ever have two of these elements at once. Here's why: Fast and Good: If you want top-notch quality delivered quickly, it's going to cost you. You'll likely need to hire more resources, pay for overtime, or use premium materials. Fast and Cheap: Getting something done quickly and inexpensively usuall...