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Thread: 1997 --> 2007 --->> 2017

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  1. #1
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    1997 --> 2007 --->> 2017

    July, 1997
    Hong Kong was back to her mama after 100 years kidnapped by kwai loh. On the same month, Asian financial crisis started from Thai Baht speculation crisis. At that time, I was too young, too poor and too blur to capitialize the opportunities… and also no time.

    July 2007
    10 years after 1997 Asian financial crisi, Dow Jones climbed to the height of 14000 points. Several months later, Lehman Brothers closed shop and triggered the sub-prime shockwaves. In less than 15 months, Dow Jones dived to 6547 point, i.e. 53% of the market capitalisation of July 2007 was evaporated !! Similar blood bath were witnessed elsewhere like in HK and KL. At that time, I wasn't too young, still poor but less blur... So, managed to do something from the crisis but no big deal, just some little bread crumbs...


    Now, July 2017, can history repeat ??
    Simpletons are the majority in a society. Donít argue with them as they cannot comprehend they actually have a smaller brain sizeÖ.

  2. #2
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    Aren't we glad someone invented credit.

    IMO, the conservative ones must also start borrowing.
    " In the land of the blind the one-eyed-jack is king."

  3. #3
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    One thing for sure, people borrow more money now to sustain their lifestyle especially in developed countries.

    Just look at OECD countries. For example, Australia's household debt to GDP is more than 200% !! Australia is the country with fourth highest (212%) debt to GDP, Holland is the 2nd highest with 277%, after Denmark (292%).

    I guess australia will soon become another holan ....

    https://data.oecd.org/hha/household-debt.htm


    Btw, malaysia household debt to GDP is 89%. OMG, I thought here is tough already..
    Simpletons are the majority in a society. Donít argue with them as they cannot comprehend they actually have a smaller brain sizeÖ.

  4. #4
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    Those currently with little or no debt must not sit on their money in the bank. Nothing venture nothing gain. Of course there will be risks. You won't get something for nothing.

    In the end it is a combination of money and guts. $ but no guts = useless. Guts but no $ is also useless. So, good luck in multiplying your $.
    " In the land of the blind the one-eyed-jack is king."

  5. #5
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    Quote Originally Posted by Henry T View Post
    .. Nothing venture nothing gain..
    True... but first thing first is one should know the threshold..

    When you are in a level that allow you to take less risk and this less risk approach also enable you to sustain a simple life, it is wiser not to take "extra" risk..

    It is better not to be richer than become poorer.... and it's a lot more easier to become poorer than richer...
    Simpletons are the majority in a society. Donít argue with them as they cannot comprehend they actually have a smaller brain sizeÖ.

  6. #6
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    Someone told me this long ago, to divide your fortune three ways.

    1/3 in properties
    1/3 in equities
    1/3 in cash

    IMO, it is pretty sound advice.
    " In the land of the blind the one-eyed-jack is king."

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