Posted by: donmihaihai | February 11, 2009

It’s a wonderful world

“No pessimist ever discovered the secret of the stars or sailed to an uncharted land or opened a new heaven to the human spirit.” — by an optimist(?)


  1. Yo Donmihaihai,

    I am quite a pessimist by nature, and this crisis has exacerbated my condition ! It’ll probably take some time before I start to feel optimistic about the world and my companies again……


  2. Great! You have passed the stock market test with flying colours by being optimistic and bullish during good times and having the current condition when times are bad.

    Don’t worry because you belong to the majority who usually unable earn some reasonable return from stock. Or it may just change you psychologyly.

    Did anyone ever tell you that our ancestors(my grandfather for my case) who spent months sailing acrossed sea to a tiny island called “Nanyang” looking for some “future”. Working day and night so “families can eat well, sleep well and dress well”…… They were anything but pessimist!

    How much thing change in a few generations… maybe Singapore really need to wash out all Singapore Chinese and replaced with China Chinese. I may not like them but many have the look of “I will cross that dangerous ocean to seek for better future”, just like my grandfather.

  3. Hmm, interesting example there of your grandfather and how our ancestors worked hard for our future. I think the problem lies with Singaporeans being too complacent about their current situation, rather than them not working hard enough. After all the blood, sweat and tears from our forefathers, the current generation does not really know what “a hard life” means. Most of them are pampered and spoilt and it’s not entirely their fault.

    Somehow I always get the feeling that you are being sarcastic, or is it unintentional ? Passing the stock market test ? I should clarify by saying it’s more of pessimism at job prospects and the possibility of losing one’s job or getting a pay cut, and of course global uncertainty means no one can be certain if companies can pull through and survive. Or perhaps you are very confident la, cos you have been investing since 2001; but give others like me a break please ? There is no reason to be caustic. a little more advice and encouragement can go a long way and help to build karma for oneself.

  4. In investing for the long term,we need optimism.

    But when appraising a company,it pays to be pessismistic until proven otherwise.We don’t want to pay a high price for a cheery consensus

  5. I am the owner of this blog and i am not going to please anyone except myself. And there are no “welcome” and “goodbye” signs. Anyone can come and leave as they wish. Leave comment and discussion as long as it is not a waste of time.

    And Musicwhiz. I have never put up another sign with “donmihaihai, a retail investor with XX years of experience earning XX%p.a”. If I have any success in the past, I seldom talk about them, I look for failures, mistakes and problems of any company that I am looking at any moment. And if you feel “small” infront of me, that is because………………….. You are weak and insecure, keep looking for face and respect up to the point of asking for it. Unable to admit and/or change past mistakes. And perhaps wasting too much time wondering around in the net and not spending time on more useful work or research, learning and family life(by commenting on this, I am wasting about 30 mins because my writting is weak and slow).

    Sarcastic or is it unintentional, make your pick.

    I don’t believe in karma but I do(usually if I am able) help other. That is done without the intention of karma or someday they may help me in return. It happened recently. although nothing work out, I am grateful.

    Lastly, I have just start working at a new job, the lowest position of a new specialisation, a new industry with a pay cut of almost 40%. That is after spending about 3 months looking for a job after fulfilling my previous contract. Want some stories of how bad the job market, etc etc? No, that is for my buddies, over some beers.

  6. hi cy,

    Agreed with the 1st part. For 2nd part, being neither optimistic or pessismistic look better to me.

  7. Well, it was not my intention to offend, so I am sorry if I did. Though I was hoping you would go easy yourself when commenting on me but I take it that humans are emotional creatures and I sometimes feel like tearing someone apart too when frustrated.

    Whatever the case, I still want to learn from you and even though it may appear that I waste truckloads of my own time, I have my own personal reasons to do so as my life does not revolve around investing 24/7.

    I wish you the best of luck in your new job. Suffice to say there is a song by the Fortunes called “You’ve Got Your Troubles, I’ve Got Mine” which aptly summarizes each individual’s situation. I personally think the recession is making me very cranky and nervous as well, as it is to people around me. That’s just an observation of mine.

    I will definitely still visit your blog for your crisp and sharp observations about companies, and will continue to recommend your blog as one of high quality.

    Cheers !

    P.S. – I guess the part about feeling “small” is about contrasting performance against non-performance. I have no qualms about admitting that my portfolio stinks (highly-geared companies, no free cash flow), but at least I’d like to let the passage of time prove it first before concluding anything. Likewise, as an astute investor I think you have more than proven yourself, so therein lies my congratulations and my respect for you.

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