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10-02-2017, 10:14 AM
(09-02-2017, 09:27 PM)weijian Wrote: Actually, for the average man on the street, if we had invested enough (time, love and attention) with our loved ones (be it children, friends or relatives) when we were younger and capable, i think that is good enough "insurance" to hedge against this SOR risk. We may outlive money, something very tangible but we will not outlive the intangible.
At of the day, as Charlie Munger like to say, we will get what we deserve.
Yes, at the end of our day, no matter how much money you have, is of very little use.
This reminds me of the picture of Stanley Ho on wheel chair and the people left around him that matters more than anything he has.
But how SOR is related to taking care of our loved ones comparable to financial investing/management?
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.