Wednesday, December 31, 2008

Goodbye 2008

What a year! The stock market tanked from the first day of trading in 2008 and continue through to December with small correction in between. I have not expected the severity of the sub-prime in far away America to affect the rest of the world so much. The whole world was flush with cash and easy credit pushing commodities, properties, stocks, inflation, etc to extreme levels.

The Financial Tsunami hit everybody hard including myself. Most of the stock holdings that I hold lost more than 50% of its value with some I dare not even look at the price. What a shame! I have come to believe in holding good blue chip stocks and collect yearly dividends and not to care about the price of the stock. I was absolutely wrong and damn wrong.

I have bought some of the stocks when the market recovers from SARS at very good prices, never would I imagine them coming down below my entry prices. The profits just vanished into thin air. I am feeling the pain like everybody else because of poor judgement, I have been telling people to get out of the stock market after the Olympic games. I felt the Chinese economic growth and feel good factor would be the engine to drive the world market ahead till the Olympic.

Most Fengshui practitioner are rather bearish in their outlook for 2009 with one predicting the STI Index plunging to 1200 pts sometime in August. That's what most analysts are predicting too, nothing new. I don't believe in all this bullshit from any of the so call Fengshui masters, my partner in another business consulted one years ago when we shifted office, the company that he manages lost big time. It would be more meaningful to donate those high consultation fees to charity.

2008 is a watershed year for me as I return to profitability in Futures Trading after being lost for more than 2 years in the wilderness. The return to the trading arcade is the turning point in my trading career as I begin to see the light at the end of the tunnel. Trading is my passion and I look forward to each new day as a challenge to beat the market. I enjoy and derive great satisfaction at the end of a 10 hour long trading day.

Making money is obviously the main driving force, those who don't believe money is important, really don't know where to shop. My mother used to tell us in our younger days when we were rather poor that she would rather die with a full stomach than an empty one (In Cantonese dialect).

Money is the root of all evil
Money is not everything
Money can't buy LOVE
Money can't buy HAPPINESS
Money can't buy HEALTH

I never believe in any of the above as an excuse for my incompetence, that's why I work hard for my money.

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