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Whats your net worth

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  #1591 (permalink)  
Old 11-10-2013, 02:06 PM
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You have something against bankers. Perhaps you failed as a banker or are one of those investors who lost money because you listened to a banker without properly understanding the product. If you did, its your fault.

There are a lot of people who think they know whats going on because they have some qualification in finance, but actually they are quite useless and have shallow conclusions. The most knowledgeable and successful people are experienced investors who have been investing for long periods of time and who have been through several cycles and don't come from finance backgrounds.
Then what is the reason for the global economy collapse?

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  #1592 (permalink)  
Old 11-10-2013, 02:21 PM
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I suppose this is probably best for you since you are a lousy investor in financial products. However, I wouldn't be surprised if your more diversified and leveraged friends surpass you significantly in wealth over time.
Hi expert, care to share what is your portfolio? Don't bullshit by telling is confidential and cannot be shared..

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  #1593 (permalink)  
Old 11-10-2013, 02:53 PM
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Hi expert, care to share what is your portfolio? Don't bullshit by telling is confidential and cannot be shared..
I never claimed to be an expert investor, but certainly I've never been burned so bad like you that you invest only cash in property like a scared mongrel. Its like you sinned so badly that now you have turned into a monk.

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  #1594 (permalink)  
Old 11-10-2013, 02:55 PM
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Then what is the reason for the global economy collapse?
Deregulation under Greenspan.

It's convenient to blame bankers but don't hate them just because they are rich.


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  #1595 (permalink)  
Old 11-10-2013, 04:24 PM
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I think Mr unregistered 1 disdain of Bankers....though abit extreme, is certainly valid pragmatically, so don't discount his views yet Mr Unregistered 2 (geez...guys, register and get a username already)..

most of these bankers (and analysts) are supposedly experts in the field and it is their job to advise on clients and investors objectively without prejudice and the crisis is partly and indirectly due to their failure to do so....either through incompetence or other motives.

I am in the field of IT in charge of administration and security. I may have performing my job like a clockwork but still if one fine day, a hacker gain access to my system.....then it is my incompetence that i failed to come up with the necessary measures to prevent his hack in the first place.

The bankers have a part to play in the crisis as well, there's no way of saying it.
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  #1596 (permalink)  
Old 11-10-2013, 07:16 PM
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Mr Unregistered 1's disdain of Bankers and his consequent actions are completely irrational and naive. Can't believe you think they are pragmatic.

Bankers and analysts can be experts, and good advisors but there are good and bad ones. You have to distinguish. If you watch all the wall street conspiracy movies, you and Unregistered 1 will derive pleasure in hating the evil banker, but that's hollywood. The truth is far more complex. It has to do with Government and global competition.

Not sure about your analogy. Better to think of it like management cut your IT security budget so that the company could make more money. You let go a few key staff, then a hacker wiped out your system, and the company lost money. Suddenly you are blamed for not doing your job.
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  #1597 (permalink)  
Old 11-10-2013, 07:45 PM
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Hi, I am 40 this Dec. Been reading the posts of the many forumers here. Looks like there are many successful people here with high earnings and high net worth. As for me, I am definitely a low performer. I am still servicing my mortgage loan of a 4 room HDB flat. My net worth, including my flat, is just $400k. I will need to save more. I need to save $30k per year for 30 years for me to get accumulate $900k. Then I will retire at 70.
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  #1598 (permalink)  
Old 11-10-2013, 09:43 PM
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Hi, I am 40 this Dec. Been reading the posts of the many forumers here. Looks like there are many successful people here with high earnings and high net worth. As for me, I am definitely a low performer. I am still servicing my mortgage loan of a 4 room HDB flat. My net worth, including my flat, is just $400k. I will need to save more. I need to save $30k per year for 30 years for me to get accumulate $900k. Then I will retire at 70.
Lol how about me. I'm just a low income TNT truck driver earning 2.5K a month and I'm 35. How do you think I can support my 2 kids?


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  #1599 (permalink)  
Old 12-10-2013, 01:44 AM
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Quote:
Originally Posted by Unregistered View Post
Mr Unregistered 1's disdain of Bankers and his consequent actions are completely irrational and naive. Can't believe you think they are pragmatic.

Bankers and analysts can be experts, and good advisors but there are good and bad ones. You have to distinguish. If you watch all the wall street conspiracy movies, you and Unregistered 1 will derive pleasure in hating the evil banker, but that's hollywood. The truth is far more complex. It has to do with Government and global competition.

Not sure about your analogy. Better to think of it like management cut your IT security budget so that the company could make more money. You let go a few key staff, then a hacker wiped out your system, and the company lost money. Suddenly you are blamed for not doing your job.
Just wondering... R u an investment banker/analysis as well? I will trust your opinion a lot more if you are NOT.....because if you are, that means your opinion are definitely subjective and favour towards your own. The invasion of Iraq is based on the fallacy of WOMD which the leaders from the respective countries swear they exist...until they ceased to exist. It's complicated issue, they said..

I agree that it is not one factor that caused the financial mess and string of events were complicated but all complicated things had a simple origin. Not every banker is evil perse....but enough of them that wield enough influence caused the mess that snowballed into the mess that is now. Denying it is akin to bill Clinton proclaiming "I did not have sexual relationship with that woman." You can "try" to convince the common men but the first person you need to convince is yourself.
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  #1600 (permalink)  
Old 12-10-2013, 03:51 AM
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In addition, it would be mostly the free market american capitalism which is more inclined to create boom and busts. But would you expect less from driven and motivated people who come out of universities like Harvard, Stanford? Could you expect them not to be aggressive, putting them into an environment where deals make money?

Anywhere in the world, from africa, china, to europe and US, the intelligent, creative and motivated float up to the top through many ways and means. I don't think they were thinking of the global financial crisis and saving the world while thinking of meeting their annual budget through structured CDOs. Nether would you be thinking about the world at large while you work as a HR manager in your polluting coal fired power plant or Sumatra / Kalimantan burning forest unfriendly paper company at Tuas.



Quote:
Originally Posted by lordlad View Post
Just wondering... R u an investment banker/analysis as well? I will trust your opinion a lot more if you are NOT.....because if you are, that means your opinion are definitely subjective and favour towards your own. The invasion of Iraq is based on the fallacy of WOMD which the leaders from the respective countries swear they exist...until they ceased to exist. It's complicated issue, they said..

I agree that it is not one factor that caused the financial mess and string of events were complicated but all complicated things had a simple origin. Not every banker is evil perse....but enough of them that wield enough influence caused the mess that snowballed into the mess that is now. Denying it is akin to bill Clinton proclaiming "I did not have sexual relationship with that woman." You can "try" to convince the common men but the first person you need to convince is yourself.
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