What Is the Most Important Lesson We Can Learn From the Financial Crisis of 2008/2009

The most important lesson we can take away is to equip yourself with Financial Literacy. We heard of stories of investors who had been burned, swindled or conned into putting their hard-earned monies, nesteggs into investments or structured financial products which they had no idea of what they were all about. Investors who had bought Minobonds, Pinnacles Notes, DBS High Notes, etc. will know what I am talking about. In fact 2 of our PAP Town Councils invested $16 millions of our tax-payer monies into such failed products - a sad and bad relection of supposedly sane and superior minds behind such investments! So before you commit yourself to buying an insurance policy, car or mortgage loan, annuity, etc. understand what you have bought and if you do not understand the product, do not commit or buy it! Let's why understand terms like savings, interest rate, compound interest rates, inflation, etc (in other words Financial Literacy) will protect oneself against charlatans in the insurance companies, banks and financial institutions that are out there to take advantage or worse to cheat you of your hard-earned monies! I believe such Financial Literarcy classes/courses should start at our Secondary Schools/Polytechnics/Universities before our students venture out into the society to begin their careers.

Books by Eckhart Tolle

I have just finished reading 2 books namely "Oneoness With All Life" & "A New Earth" by Eckhart Tolle. He talks about awkening, the power of now; thoughts & the ego; unconsciousness & consciousness; forms & formless; being & beingness, etc. What I have learned is that there are 2 dimensions: the dimension of doing, creating, achieving and the spiritual dimension of being at peace with oneself, beingness, depth of the spirit from which everything flows. To achieve true freedom & enlightened living we need to know & to learn how to cultivate the spiritual aspect of living. Most of us live a lop-sided life emphasizing the doing & creating part and neglecting the spiritual aspect of being! For the Christians it is sensing or if you like cultivating the "spirit of God in us". Well, you can borrow the books from our National Library. Happy reading!

Is There Such a Thing as Strategic Gambling?

I have an interesting conversation with a male retiree in his 70s. He stays around Holland Avenue area. He told me he visits the Marina Sands casino 2 times a week. His contemporaries (all in their 70s) also join him in this weekly ritual. He will bring along $1200 each time to gamble on his favourite game the Roulette. I asked him whether he had been able to win against the House. He said he has a strategy playing the game - he will place his bets on 8 nos., black & white colours, etc. As I am not a gambler I could not understand let alone be interested in what his strategy was all about. He said if he made a profit of $1000 by 2 am he would call it a day. I guess he normally started his addiction from 12 mid-night. If he would to discover that the number he betted will persistently not appear he would just stopped temporarily or switched to another table. He said sometimes he would strike big in his winnings of thousand of dollars. However, he said should he be unlucky and lose his capital of $1200 he would not mind as he said he could afford it. According to him, sometimes making $200 to $300 per session will not be a problem !! I just wish him good luck and hope that one day his addiction will stop!!!!!!!!!