散戶流浪記

1. sell-side analysts are salespersons
2. portfolio manager, plus buy-side analysts, plus sell-side analysts usually cannot beat the market, even they are highly paid.
3. securities brokers are salespersons + actors, with prepared scripts.
4. don't invest without considering the commission or charge you have to pay.
5. 95% of 'average investors' are losers.
6. it will be shame to review the accuracy of the forecast produced by those financial fortune-teller.
7. think about how much you have lost, then you will know how rich you originally are.
8. there are different ways to win in securities market, choose the way most suitable to you and your character.

Wink and Grow Rich

1. Think it, ink it, do it, review it
2. Choose the level you want to PLAY at.
3. what you SEE is what you GET
4. Ask and you shall receive
5. learning is a GAME
6. Invest more of your time, spend less of it
7. Invest more of your money, spend less of it
8. Your well is your WORDS
9. Wealth is the beginning, not the end
10. Sow, nurture & reap
11. Your PASSION is your COMPASS
12. To know and not to do is not yet to know
13. value is the river in which wealth flows
14. Become an inspired work-in-progress
15. Plan to fail
16. see the wood from the trees
17. opportunities lie in every moment
18. the key to leverage is how you use it
19. Sustainable wealth follows a rhythm
    
20. TIME is your most precious asset
21. HARMONY is the foundation of wealth
22. TIME has seasons
23. It is not just what you do, it's when you do it.
24. When you resonate, you accumulate
25. you settle for your standards
26. a Five Star life is easier than a three star live
27. If learning is a game, your environment is your playground. Don't settle for less.
28. You are the result of your CHOICES
29. Water always finds its level.
    

35歲開始，不再為錢工作：歐洲富爸爸教你賺錢之道

financial protection 財務保障
-keep emergency cash (3-9 times monthly spending), prepare for accidents

financial security 財務安全
-150 times monthly spending, 8% annual return of this capital can pay the monthly expense.

financial freedom 財務自由
-invest into medium to high return asset (~12%) to continue building the capital.

像佛陀一樣談戀愛，就是享受

愛別人的能力，與愛自己的能力息息相關。

放下執著的觀念與習慣，開啟靈性的愛之旅，從「心」開始，掙脫虛假的信念，讓靈性引導，找回真實的本來面目。然後，活在真實的本來面目下，才能溫柔的談戀愛，與愛人創造靈性的結合。

閱讀人生100篇-李怡

世間的一切都是借給我們用的，有緣則來，無緣則去。人生無常，不是要消極以對。該把握時要全力以赴，但凡事都有緣起緣滅，強求不得。最重要是把握當下。

王貽興 -《原來戀愛》

真正的愛情是，不計較付出，愛到失去自己，然後得到一個更完整更豐富的自己。這就是愛了。
-王貽興

我怎麼還是單身

15種戀愛必死的症狀
　　1、你總是喜歡當小三
　　2、天生就是個黏人精
　　3、你的公主病又發了
　　4、走不出舊日的情傷
　　5、你總是擺一張臭臉
　　6、愛管閒事管得太多
　　7、身邊的小人一卡車
　　8、只要性愛不要真情
　　9、一板一眼的偏執狂
　　10、不修邊幅的邋遢鬼
　　11、只顧賺錢的工作狂
　　12、沒有主見的應聲蟲
　　13、仍然與舊愛切不清
　　14、父母在上讓你為難
　　15、我行我素為人自私

第一章　越是得不到的人，你越愛
　　如果你總是不停地追求一些根本不屬於你的人，或者曾經努力試著去改變自己、改變他們，通常這樣的戀情都沒有好下場，只會讓你更寂寞、更孤單，並且喪失認識其他人的機會！

第二章　黏人精，快走開！
　　戀愛的時候，你可能會為了討對方歡心，使出瘋狂黏人攻勢以表達愛意，不過這樣反倒會弄巧成拙，讓你變成個黏人精，讓人避之唯恐不及！

第三章　公主病上身
　　你希望在戀愛時被當成公主、神明一樣供奉著，喜歡大家為你疲於奔命；不過，人皆生而平等，追求你的人終究會對嬌從、任性的你感到疲倦，然後逐漸失去興趣，讓你繼續單身！

第四章　走不出舊日情傷
　　失戀很痛苦，需要一段時間療傷，如果你的療傷時間太長，或者根本自我放棄沉溺在痛苦的泥淖中，如此只會讓你難以脫離陰霾的日子，然後繼續單身沒人愛！

第五章　惹人討厭，愛臭臉
　　假設你一出口就沒好話，看什麼都不順眼，動不動就否定自己和貶低他人，眼紅嘲笑身邊成雙成對的情侶；這麼討人厭的你，感情路一定特別坎坷！ 因為一切都是你太討人厭！

第六章　你又不是我媽，管太多了吧！
　　假如你這個人很強勢，對任何事情都有強烈的控制慾，自以為是又自我感覺良好，你會一直單身其實不奇怪，因為你把所有人都當小孩子來管！ 談戀愛可不是當褓母！

第七章　身邊小人一卡車！
　　有些「朋友」在不知不覺中，慢慢地影響了你原來的生活方式、事業的發展，甚至是獲得幸福的機會，但你卻不知道……。

第八章　只要性愛不要真情
　　你熱衷於一夜情，但是當每一次狂歡完畢後身邊仍然空無一人，你就會開始自怨自艾，覺得總是沒人疼愛。接著你又會開始在床上尋找你的價值。這樣的惡性循環，導致你只能當浪子！

第九章　一板一眼偏執狂
　　你偏好一成不變的規律生活，一刻都不允許自己偏離軌道，是個只要時間一到，一定要執行某件事情的偏執狂。你的生命毫無任何空間容許另一個人進駐，如此龜毛的偏執狂，誰要跟你在一起？

第十章　邋遢鬼，誰要你！
　　你永遠邋邋遢遢、丟三落四、超不準時、忘東忘西，生活一團亂，給人沒條理又不可靠的印象嗎？ 請問，這樣的你可愛迷人嗎？ 有人會喜歡你嗎？

第十一章 你的心裡只有工作
　　你太在乎工作的表現與成就，思考偏激，沒有折衷和彈性，不管是親友或情人，總被歸類成阻礙！ 於是你的工作就阻礙了你幸福的機會， 因為你只想和工作戀愛！

第十二章 沒主見的應聲蟲
　　你在戀愛中總是以對方為主，總是贊同對方的意見與說法、配合對方的步調與計畫，幾乎無法說出「NO」！ 那麼在感情的世界裡，你永遠得不到對方的尊重，因為你只是應聲蟲，不是情人！

第十三章 舊情總是剪不斷！
　　你或許已有了新對象，或許你想往前邁進，但因你還擔心、掛念舊情人，所以還與舊情人曖昧糾纏，你經常處於搖擺不定的情況中；而這些舊戀情的羈絆，就成為你發展幸福的致命傷！

第十四章 父母在上，口真難開
　　從小到大，你被教育成「聽爸媽說的準沒錯」！ 連你帶回家的男∕女朋友，都要經過父母的嚴格審視；這種媽咪、爸比的乖孩子，很難成熟獨立地發展戀情，所以只能宅在家當乖寶寶，一直單身下去！

第十五章 我行我素自私鬼
　　你不太在意別人的感受，神經大條到說錯話了也不知道，就算知道也不想補救，總是我行我素，覺得你只需為你自己而活。這樣粗線條的人，很難有人愛！

富爸爸之有錢人的大陰謀：八種全新的金錢法則

新的金錢規則

#1 知識就是金錢
#2 學會如何運用債務
#3 學會如何控制現金流
#4 為最壞的打算作準備，所以生活只會越來越好
#5 速度的需求
#6 學習金錢的語言
#7 生活是一種團隊運動，謹慎選擇自己的隊友
#8 既然鈔票越來越不值錢，學會如何印自己的鈔票

do not speculate
cashflow is more important than cash
focus on assets which can bring passive income
hold commodities to hedge inflation

亞當‧史密斯沒說透的致富祕密

buy assets that can bring you income, fight inflation & increase your wealth.
beware of faulty assets that are actually 'liabilities'.

讓你富起來

5 relationship with money: earn, save, spend, grow, share

• earn: love your work,
• save: save at least 10% of income, have at least 6 months of spending as emergency cash.
• spend: avoid consumer finance
• grow: insurance (life, accident, medical, annuity), investment (consider principal, return rate & time, asset allocation, risk & risk aptitude)
• share: estate management, charity

From Anger to Intimacy

1. Do not rehearse & spew anger, but study it - know why you are angry & what you want.
2. Men & women are wired differently: most men do not like the feeling of being controlled, they hate to feel powerless; most women do not like the feeling of being disconnected & rejected in relationships.
3. When angry, have a time-out for you & your spouse to find a solution & move toward resolution.
4. Humility asks God how to change & do differently.
5. Security comes from knowing that your mate loves you in spite of your flaws & shortcomings.
6. Do not repay (an eye for an eye) & replay (repeat playing) anger, but resolve it (make every effort to live at peace).
7. God gives you the power to think those things you should think, rather than the things you are thinking when you are angry.
8. Forgiveness is me giving up the right to hurt you for hurting me.
9. "Only the brave know how to forgive. A coward never forgives. It's not in his nature." - Robert Muller
10. Majority of your communication is nonverbal, but through your face.
11. When you care enough to find out what happened and why, your empathy establishes a foundation for reconciliation.
12. Apology: A flippant or insincere apology can do more damage than good; the point of listening is to understand the other person; with just one or two sentences of calm rather than mean, degrading or belittling, you can reduce threat level & extinguish anger.
    
13. Your relationship doesn't need both of you to change in this moment - just one of you need to make a change.
14. We should live every minute of every day as if it were our last-filled with passion & purpose.
15. When a woman's hope for a better marriage has faded, her attractiveness to her husband diminishes and the life of the relationship gradually declines.
16. Love unconditionally - instead of harboring bitterness or unresolved anger, don't wait for your partner to do something that warrants your offer of forgiveness.

最後的演講

it is a good book, reminds us how to treat our own life. 活於當下，擁抱夢想，樂觀奮鬥 !

some extracts:

• 「經驗是一個人沒得到想要的東西時的獎賞。」 -> experience is something gained when you cannot get what you want. Experience is usually the most valuable thing you need to pay.

• 「阻擋在前頭的磚牆不是無緣無故存在的，只是為了阻檔那些輕易放棄的人，同時讓你有機會證明你多麼想要一件東西。」-> 「世上無難事，只怕有心人」
• 「當你準備好了，機會來臨時便由你決定接不接受挑戰；你沒有足夠的實力，機會在眼前也是徒然錯過。」-> 「機會只會留給有準備的人。」
• 「我們改變不了上天發給我們的牌，只能決定怎麼打這手牌。」
• 「重點不在於你要怎麼實現自己的夢想，而是在於怎麼過你的人生。你如果以正確的方式度過人生，夢想會自己實現。」如果您有心，必然會積極而樂觀地應用在您的人生中，而夢想的實現只是副產品而已。
• 生活是屬於自己的，最重要是能以滿腔的熱情與激情走自己的路。

股票作手回憶錄 (Reminiscences of a stock operator)

1. identify the mega trend, not the micro fluctuations
   
2. trade only when the trend is confirmed, increase position only when you have profit
3. cut loss, let profit run

非常選擇，非常Match－擇偶十大原則 Finding the Love of Your Life：Ten Principles for Choosing the Right Marriage Partner

十大擇偶原則：
1：避開選擇錯誤對象的七大原因
a：交往不深，太快决定結婚
b：太年輕結婚
c：太急著結婚，未曾想清楚，未有把握
d：為討好某人而選擇一個對象
e：未有多方面的認識
f：帶有不切實際的期望，須知婚姻須要努力的培養和經營
g：如不願跟一個個性或行為上有嚴重問題的人相處一輩子，就不要跟他結婚
2：清楚知道理想對象的特質，牢記腦中
3：確定結婚對象跟自己有很多相似之處
4：確定結婚雙方都有健全的心理
5：確定真的愛戀對方，婚後毫無保留地表達熱情
6：確定雙方有深入、穩定的感情,激情會消失,友伴之情才能長久
7: 在言語上建立親密關係
8: 學會化解衝突,使愛的道路保持通
9: 信守誓約，確定不論任何情况都與配偶相守一生
10：如父母和至親好友都支持你所考慮的結婚對象，就與他們一同慶祝! 如果他們不支持，則須仔細了解他們的意見

在天堂遇見的五個人

Every person has his/her own story, each such story form part of the whole picture.

Every story is inter-related, everyone is important!

錢志健-金融圈內

Yes, besides money, we should also take care of ourselves, our family, our friends, as well as those in need.

The Standard & Poor's Guide to Long Term Investing.

7 Keys to Building Wealth:
1. Pay Yourself First

• save for investment before consumption. Hold Stock for the Long Term

3. Buy What You Know
4. Dollar Cost Average
5. Keep Your Costs Down
6. Know When to Sell

• take objective look at investments periodically;
• revisit if the reason you bought the stock originally still apply today;
• look for red flag: decline of earnings or dividend growth; higher than average P/E; management change; weakening balance sheet; sharply falling stock price;
• sell some of the shares if stock position is too large (e.g. >10% of portfolio);
• consider stop-loss order 10-15% below current level

7. Start Now

• enjoy the effect of compounding as soon as possible

Guide To Analysing Companies

A good revision for basic financial accounting concepts, ratio analysis, and interpretation skill of financial statements.

匯豐金融帝國

It is a brief history of HSBC.

How to Refine Your Stock Strategy

Fat-Pitch Strategy:

1. look for wide-moat companies
2. always have margin of safety
3. don't be afraid to hold cash
4. don't be afraid to hold relatively few stocks
5. don't trade very often

Avoid behavioral finance like overconfidence, active trading, mental accounting

20 stock investing tips

1. keep it simple (company with economic moats, margin of safety, long time horizon)
2. have the proper expectation
3. be prepared to hold for a long time
4. tune out the noise (focus on company performance instead of market price)
5. behave like an owner
6. buy low, sell high (but how?)
   
7. watch where you anchor (avoid behavioral finance)
8. remember that economics usually trump management competence (economy is more important than management ability)
   
9. be careful of snakes (poor management, principal-agency problem)
10. bear in mind that past trends often continue
11. prepare for situation to proceed faster than you may think
12. expect surprises to repeat
13. don't be stubborn (sell when you make mistake or situation not as expected)
    
14. listen to your gut
15. know your friends, and your enemies (who buy with or sell against you)
    
16. recognize the signs of a top
17. look for quality
18. don't buy without value
19. always have a margin of safety
20. think independently

Graham's simple formula:
implied growth rate g = (P/E ratio - 8.5)*(1/2)*(100%)

Fisher's 15 points for growth stock

1. does the company have products or services with sufficient market potential to make possible a sizable increase in sales for at least several years?
2. does the management have a determination to continue to develop products or processes that will still further increase total sales potentials when the growth potentials of current attractive product have largely been exploited?
3. how effective are the company's research-and-development efforts in relation to its size?
4. does the company have an above-average sales organization?
5. does the company have a worthwhile profit margin?
6. what is the company doing to maintain or improve profit margin?
7. does the company have outstanding labor and personnel relations?
8. does the company have outstanding executive relations?
9. does the company have depth to its management?
10. how good are the company's cost analysis and accounting controls?
11. are there other aspects of the business, somewhat peculiar to the industry involved, which will give the investor important clues as to how outstanding the company may be in relation to its competition?
12. does the company have a short-range or long-range outlook in regard to profits?
13. in the foreseeable future, will the growth of the company require sufficient equity financing so that the larger number of shares then outstanding will largely cancel the existing stockholders' benefit from this anticipated growth?
14. does management talk freely to investors about its affairs when things are going well but "clam up" when troubles and disappointments occur?
15. does the company have a management of unquestionable integrity?

Fisher's 3 reasons to sell a stock

1. you have made a serious mistake in assessment of the company
2. the company condition deteriorate
3. could reinvest the money in another far more attractive company (but can you sure one good company is certainly better than another good one? )