Me & My Money Series (Sunday Times)

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(29-07-2012, 12:09 PM)brattzz Wrote: ok lah ok lah, mercz and bmw are just mass-market cars... Tongue

What you say is true. Every thing in this world is relative. i think you can say "Roll Royce" is my dream car. But if you can afford the car, can you also afford the butler? Ha! Ha! Just for laugh!TongueBig Grin
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.
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I like nice cars too but...

1. Like every other car, it gets get stuck in peak hour traffic and you get frustrated like all other drivers.
2. Like every other car, parking space is damn hard to find.
3. All cars are expensive, nice cars are too damn expensive here in Singapore.
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*This is NOT the full interview. For the full interview, please visit the website.

The Straits Times
www.straitstimes.com
Published on Aug 05, 2012
Reit's CEO invests for long term

Australian puts his money mainly in Reits and banking stocks

By Joyce Teo

The chief executive of Cambridge Industrial Trust (CIT) Management, Mr Chris Calvert, 41, may own a car but he prefers to make the daily half-hour commute to work by bus.

"I like the bus for two reasons. It's the frugal part of me because it costs only $1.10 and it's also probably the only 30 minutes in the day when I have my own time."

Besides, the journey allows him to experience the local lifestyle and mingle with ordinary Singaporeans from all walks of life.

"Every trip to work is a new experience for me and I love that," he says.

The Australian arrived in Singapore in 2006 to help set up MacArthurCook Industrial Reit, and became its chief executive officer when the real estate investment trust was listed.

He later joined Blaxland Funds Management, a real estate fund manager, as CEO (Asia) before joining CIT in late 2008.

Mr Calvert and his wife Louise, 40, have five sons, who are aged from four to 10.

Q: Are you a spender or saver?

I see myself more as a saver. Just look at the size of my brood and you'd understand why. I have five sons. About 95 per cent of the money I earn goes towards my family - school fees, education, savings for my kids.

I don't like to shop. My wife, who is addicted to shopping, especially for shoes and boots, buys clothes for me.

Actually, I don't shop for myself unless I am in a golf shop. I collect golf clubs and you can never have enough drivers and golf balls. I like wearing loud golf shorts and having an extra pair of golf shoes.

I used to play a lot of golf. Here, with kids growing up, it's harder. I've put regular golf sessions on hold for the next few years as I want to spend my weekends with my kids.

Q: How much do you charge to your credit cards every month?

I charge $1,000 to $2,000.

Q: What financial planning have you done for yourself?

I have standard income protection insurance plans.

I own stocks back home, while here, I continue to build up my shares in CIT.

I now have more than half of my money in the bank in Australia but I am in the process of reweighting my portfolio. I will be slowly moving more money into the stock market here or in Australia.

My philosophy is that investments are for the long term. I am not a trader of shares, to ensure there's that nest egg for the kids, for their education and for the family.
----

Q: Home is now...

A rented two-level semi-detached house in Tanjong Katong with a plunge pool. I chose the area as I wanted to be in the midst of the local culture, eating and living like a local and experiencing it all.

In fact, I'm the only Australian family in the street.

Q: I drive...

A family wagon, a Mitsubishi Grandis, which is great for a family of seven.

My wife takes it on weekdays to ferry the children around and run errands. So I mostly take the public bus to work.

joyceteo@sph.com.sg

----------------
BEST & WORST INVESTMENTS

Q: What is your best investment to date?

It's probably my house in Melbourne, though it is an unrealised investment.

I bought it for A$1.5million in 2007 and it has since doubled in value. There is sentimental value attached to it due to its rich history and it is something that I can leave behind for my kids and future generations.

Q: What is your worst investment to date?

A block of land of about 7,500 sq ft located on a golf course on the Mornington Peninsula, which I bought thinking I could double my money.

A good friend of mine, an editor of a golf turf magazine, told me about it.

It was supposed to be used for the Australian Open golf tournament every third year and I figured that the value would shoot through the roof with all the development of the resorts and so on.

Unfortunately, it went the other way as the government changed the plan for the golf course... it was a lesson well learnt.

I bought the land three or four years ago for a few hundred thousand dollars on the spur of the moment.

I have since sold it and I lost more than $10,000 but less than $20,000.
-------------------
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
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(30-07-2012, 12:24 AM)Big Toe Wrote: I like nice cars too but...

1. Like every other car, it gets get stuck in peak hour traffic and you get frustrated like all other drivers.
2. Like every other car, parking space is damn hard to find.
3. All cars are expensive, nice cars are too damn expensive here in Singapore.

My sentiment exactly! For someone like me especially that has lived for some time abroad, I cannot see myself spending the amount required to own even a half decent car here, when the same amount forked out could pay for 2 or even 3 of the same kind anywhere else. I love cars but for me at least there is a limit to extravagance.
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Have a rule of thumb that I follow and which I learned from an american entrepreneur. Spend no more than 2.5% of your assets on depreciable assets once u have hit your desired wealth level. So if u have 10m including debt. Spend no more than 250k on car, boat, watches, diamonds etc. very good advice but I think realistic only if one has at least 5m total assets yah? Using this yardstick, most car owners in sg probably should not be driving....
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(05-08-2012, 04:37 PM)greypiggi Wrote: Have a rule of thumb that I follow and which I learned from an american entrepreneur. Spend no more than 2.5% of your assets on depreciable assets once u have hit your desired wealth level. So if u have 10m including debt. Spend no more than 250k on car, boat, watches, diamonds etc. very good advice but I think realistic only if one has at least 5m total assets yah? Using this yardstick, most car owners in sg probably should not be driving....

Perhaps it doesn't apply to cars?

Even tho' cars are a lot cheaper in US, let's say we conservatively estimate a brand new Chrysler to be US$20k. Applying the 2.5% rule (of thumb) means only those Americans with at least US$800k Net Worth ought to be buying brand new cars of this price...

It'd be bad for their Car Industry if all Americans were to follow this rule...Tongue

Apply this rule in Singapore and woah... no more congestions on the road... even if you were to increase it to 10%... Big Grin
Luck & Fortune Favours those who are Prepared & Decisive when Opportunity Knocks
------------ 知己知彼 ,百战不殆 ;不知彼 ,不知己 ,每战必殆 ------------
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I like the Popiah king interview. Everyday work 10 hours, 3 dinners in a night for networking and even a meeting after the 3 dinners. When started out only slept for 2 hours. My respect to him.

It seems like every successful person that have worked himself up are extremely hardworking. Same like far east owner also.
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Quote:I own stocks back home, while here, I continue to build up my shares in CIT.

Sounds good till I went to check SGX,

No. of shares held after the change 10911

No, I double checked, I didn't miss out 3 zeroes....and after close to 4 years with CIT.... Rolleyes
Luck & Fortune Favours those who are Prepared & Decisive when Opportunity Knocks
------------ 知己知彼 ,百战不殆 ;不知彼 ,不知己 ,每战必殆 ------------
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(06-08-2012, 12:03 AM)KopiKat Wrote:
Quote:I own stocks back home, while here, I continue to build up my shares in CIT.

Sounds good till I went to check SGX,

No. of shares held after the change 10911

No, I double checked, I didn't miss out 3 zeroes....and after close to 4 years with CIT.... Rolleyes

Technically not wrong mah, the stake is building up.haha.
He should keep quiet about it but probably the kaypo reporter asked him about his stake in CIT since he is the CEO of CIT.
Then, I suppose the above statement is probably as good as he can give..haha.
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(05-08-2012, 10:43 PM)KopiKat Wrote:
(05-08-2012, 04:37 PM)greypiggi Wrote: Have a rule of thumb that I follow and which I learned from an american entrepreneur. Spend no more than 2.5% of your assets on depreciable assets once u have hit your desired wealth level. So if u have 10m including debt. Spend no more than 250k on car, boat, watches, diamonds etc. very good advice but I think realistic only if one has at least 5m total assets yah? Using this yardstick, most car owners in sg probably should not be driving....

Perhaps it doesn't apply to cars?

Even tho' cars are a lot cheaper in US, let's say we conservatively estimate a brand new Chrysler to be US$20k. Applying the 2.5% rule (of thumb) means only those Americans with at least US$800k Net Worth ought to be buying brand new cars of this price...

It'd be bad for their Car Industry if all Americans were to follow this rule...Tongue

Apply this rule in Singapore and woah... no more congestions on the road... even if you were to increase it to 10%... Big Grin

I guess if we apply to SG context, look only at net worth and if we want to include cars, then maybe it should be 10% of assets. Assuming $120K car + COE, it means net worth of 1.2M. At current car prices, this number makes sense to me. Too many people have cars which just drains their net worth. If only more Sporeans were so prudent, COE would probably drop back down to 4 digit levels....
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