Today, I'm thinking about what I must do with my money. I've let my money become lazy. It has been sitting in the eTrade account collecting dust and a meagre interest rate for the past year. Things must change. I need to treat investment with greater seriousness. Like an athlete, I must train and I must compete. It's not wise to continue to sit along the sidelines.
It's time to bag an elephant.
4:15 pm : The stock market kicked off the month of August with a modest decline after a rise in crude oil prices offset a modestly better-than-expected employment report.
With regard to this session's economic data, the government's jobs report for July came in close to expectations, but a smaller-than-expected drop in payrolls helped limit the selling interest this session. Specifically, nonfarm payrolls fell by 51,000 which was better than the expected decline of 75,000. Payrolls are declining at about a 0.5%, which is generally associated with real GDP growth of 1.5% to 2% -- consistent with second quarter data and projections for the third quarter. Meanwhile, the unemployment rate rose to 5.7% from 5.5%.
The ISM Index, a national manufacturing survey, posted a decent reading in July given the current economic conditions. The index was roughly unchanged at 50.0, which represents flat manufacturing growth.
Crude oil prices continued the recent trend of volatile swings. Prices climbed as much as 3.6% on reports that Israel's prime minister said that Iran is close to a major breakthrough in its nuclear weapons program. Prices eased off their highs, however, to settle with a 0.8% gain at $125.09. The stock market's worst level of the session, a loss of 1.0%, corresponded with the session high for oil prices.
Nonetheless, forest products have been one of the session's best performing industry groups. In turn, forestry and timber outfit Weyerhaeuser (WY 55.95, +2.49) is trading higher. The stock hit a 52-week low in mid-June and has since rallied more than 20%.
The Dow declined 51 pts to end at 11326. Volume was 704 million (with a huge surge in volume ~ 30 million within the last 5 minutes pushing the index down).
Noteworthy individual sectors performances:
Dow Jones Basic Resources Index: -4%
Dow Jones Banks: +1.5%
What are the big sharks planning this time? Are they trying to create an impression of "the markets aren't really so bad,"lure us into chasing stocks at high prices, then dumping them on us. I would like to join them on the short ride up, but to time the move seems rather difficult. When will this thing explode? At least I don't think it will be so soon. I think it's time to take some beaten down sectors home. Anything related to oil will slip.
It may be time to watch the DJUFI and DJBNK take in some Leh, Fnm, Fre.
Friday, August 1, 2008
Sunday, July 27, 2008
Photos from recent events (2)
Sugiyama Meats - Japanese-Canadian owned and operated. My mom insists that their beef is flown in from Japan. I disagree because their prices are too low to sustain that kind of business. Uncle Gabe did say that Sugiyama supplies some major Japanese hot pot restaurants.
A plate of sliced pork leg in Swiss Sauce I enjoyed at Kingspark.
Look, I'm about to chow down.
Dimsum at "Nan Hai Yu Cun" (Southern Ocean Fishing Village)
Photos from recent events (1)
Mom and I were planning on having lunch @ Elephant and Castle
We were greeted by a cute looking oriental hostess. However, we were not happy with the environment. There was a really noisy table behind us. The view from our table wasn't that great. Also, the furnishings appear to be worn out. So, we decided to leave.
We were impressed with the new T-shirt my aunt sent me.
On a separate day, we went to Ikea for their world famous Swedish Meatballs
Unfortunately, they were closed early on Saturday! I wanted a photo with the food anyways!
"Two prisoners look out the window..."
Today I feel overwhlemed by homesickness. It feels like I'm drifting further and further from my goal of returning to Hong Kong. I'm worried, dead worried, about being stuck in this hellhole forever. Damn, how I miss Hong Kong. How I miss her skyscrappers in Central. How I miss her masses of people in Causeway Bay.
How I miss the feeling of entering the cool and metallic car of the MTR. How I miss lying on the edge of the waterfront in Tsim Sha Tsui and viewing the beautiful neon lights emitted by the IFC and China Bank buildings. How I miss looking at the young lasses in their hot pants and miniskirts. I even miss the food at Cafe de Coral.
But in order to move back to HK, I'll need to have an adequate income. At this point, there seem to be very few opportnities for pharmacists in Hong Kong. So my plan is to get a degree in medicine and try to practice med in Hong Kong with a Canadian MD degree. But even that route would be tough. Even if I were *lucky* enough to be accepted, how will I handle the physical and financial toll of being a med student?
After I do the mental accounting, the situation seems even more dire. I'll likely be pulling in 4000 a month as a pharmacist. 1000 will go towards rent. 300 will go towards my outstanding student loan. 400 will go towards a car, leaving me with about 2000 dollars. Actually, I suppose it is okay.
"Two prisoners look out the window. One sees mud, the other sees stars." - Oscar Wilde
One voice in my head is telling me: "Stephen, why bother trying so hard? It looks like you're going to be stuck in Vancouver for good."
Another voice from my heart says: "Stephen, it is because you love Hong Kong that you have to work hard. If you give up now, you'll never be in Hong Kong."
Let's hope I heed the voice in my heart.
How I miss the feeling of entering the cool and metallic car of the MTR. How I miss lying on the edge of the waterfront in Tsim Sha Tsui and viewing the beautiful neon lights emitted by the IFC and China Bank buildings. How I miss looking at the young lasses in their hot pants and miniskirts. I even miss the food at Cafe de Coral.
But in order to move back to HK, I'll need to have an adequate income. At this point, there seem to be very few opportnities for pharmacists in Hong Kong. So my plan is to get a degree in medicine and try to practice med in Hong Kong with a Canadian MD degree. But even that route would be tough. Even if I were *lucky* enough to be accepted, how will I handle the physical and financial toll of being a med student?
After I do the mental accounting, the situation seems even more dire. I'll likely be pulling in 4000 a month as a pharmacist. 1000 will go towards rent. 300 will go towards my outstanding student loan. 400 will go towards a car, leaving me with about 2000 dollars. Actually, I suppose it is okay.
"Two prisoners look out the window. One sees mud, the other sees stars." - Oscar Wilde
One voice in my head is telling me: "Stephen, why bother trying so hard? It looks like you're going to be stuck in Vancouver for good."
Another voice from my heart says: "Stephen, it is because you love Hong Kong that you have to work hard. If you give up now, you'll never be in Hong Kong."
Let's hope I heed the voice in my heart.
Friday, July 18, 2008
Lesson 1 - The Power of the Business Cycle
Young man, when I was your age... (I am starting to sound like a 60 year old already)... I did not appreciate what a business cycle was.
Life Lessons Series - Introduction
Last night, as I rolled around in my bed, I thought about what I read in Get Smarter - Life and Business Lessons from a Billionaire.
What motivated him to write this book, explained Mr. Seymour Schulich, is a desire to make a difference in a young person's life. This makes sense - Mr. Schulich has already made billions of dollars from his mining business. He does not HAVE do anything for money anymore.
I thought about what I should do, what I should leave for my children. What are the words of wisdom that I can pass on to them? Perhaps, I could start with some life lessons of my own.
Table of Contents (which will continually expand with successes and blunders)
1. Business Cycle
2. Career Choice
What motivated him to write this book, explained Mr. Seymour Schulich, is a desire to make a difference in a young person's life. This makes sense - Mr. Schulich has already made billions of dollars from his mining business. He does not HAVE do anything for money anymore.
I thought about what I should do, what I should leave for my children. What are the words of wisdom that I can pass on to them? Perhaps, I could start with some life lessons of my own.
Table of Contents (which will continually expand with successes and blunders)
1. Business Cycle
2. Career Choice
Thursday, July 17, 2008
Donald Tsang
Tomorrow at 8:30 PM, I will be having dinner with Donald and a couple of his friends. I met Donald in electronics class at London High School. At that time I was in grade 9 and he was in grade 11. We hadn't talked for years until he contacted me via facebook about 2 months ago. His enthusiasm caught my attention immediately. He definitely is interested in learning more about pharmacy as his girlfriend (aparently one he's hopelessly in love with) is a pharmacy technician. Perhaps she wants to apply for pharmacy school and he'd like to gather some information from me.
Donald's 26 this year. He is working at a student-rate at an engineering firm in Whistler. He lives in a 3 bedroom condo (all by himself) and greyhounds back to the city over the weekends. Apparently he's in the final year of a civil engineering degree at Lakehead University in Thunder Bay.
Donald has the impression that pharmacists make a lot of money. He quotes his girlfriend that pharmacists make $100,000 a year. He considers this to be a lot better than the average salary of an engineer at $70,000 to $ 90,000 annually.
I discussed a bit of investing with him. I stated my belief that any young man with a college degree can amass a great deal of fortune (in the millions) if he has financial discipline and makes wise investments. Donald disagrees. He brings in his own experience as a new grad with an environmental studies degree. Aparently, he had such difficulty finding employment that he chose to pursue a second degree. This explains why he has another year or school left.
So I'll be seeing him and his friends. Aparently one of his biochem friend was recently laid off and can use some advice regarding pharmacy as an option. I suppose I look forward to meeting new people.
Donald's 26 this year. He is working at a student-rate at an engineering firm in Whistler. He lives in a 3 bedroom condo (all by himself) and greyhounds back to the city over the weekends. Apparently he's in the final year of a civil engineering degree at Lakehead University in Thunder Bay.
Donald has the impression that pharmacists make a lot of money. He quotes his girlfriend that pharmacists make $100,000 a year. He considers this to be a lot better than the average salary of an engineer at $70,000 to $ 90,000 annually.
I discussed a bit of investing with him. I stated my belief that any young man with a college degree can amass a great deal of fortune (in the millions) if he has financial discipline and makes wise investments. Donald disagrees. He brings in his own experience as a new grad with an environmental studies degree. Aparently, he had such difficulty finding employment that he chose to pursue a second degree. This explains why he has another year or school left.
So I'll be seeing him and his friends. Aparently one of his biochem friend was recently laid off and can use some advice regarding pharmacy as an option. I suppose I look forward to meeting new people.
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