Steve Jobs passed away today - Speech during 2005 Stanford Commencement Address

Sadly, just heard the news that Steve Jobs, the CEO of Apple and Pixar, passed away today. Well, technically, he had relinguished his duties as CEO to Tim Cook about 2 months ago but well, many of us still consider him the leader of Apple.

At the same time, we also hear that the much anticipated iPhone 5 that is expected to be released this week is actually an iPhone 4S. It's basically the same chassis (read same casing, exterior, or form factor as we call it) but with exhanced innards, such as the new voice control feature, faster processor and a more robust antenna..

BTW, this was part of a speech by Steve Jobs in 2005 where he was speaking during Stanford University Commencement Address. I thought his speech was very inspirational. An excerpt is as below.

"No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the Single Best invention of Life. It is Life's change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic but it is quite true."

"Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart."

Although this may sound a little extreme and morbid, however, we all know what he had achieved in his lifetime, I would consider him one of the movers and shakers of his time. Kudos to Mr Steve Jobs!!

For the full speech, you can see it / hear it on youtube below:

http://www.youtube.com/watch?v=UF8uR6Z6KLc&feature=relmfu

ESFS Fund, Eurozone Crisis Escalating

- Flickr image courtesy of Gary Kenney Aviation Ltd

Stumbled onto this article which explains the hype over the last 2 days which saw most financial markets rallying. It's basically a proposed Eurozone equivalent TARP bailout of 2 trillion Euros. This could potentially avert the Eurozone financial crisis, however, if it doesn't work, this could result in the Eurozone being a goner. Because this proposed new ESFS structure allows for leverage, it's a little crazy if you think about it, ie, using leverage to cure a problem which stems from leverage (some say the problem was due to overspending, I say it's due to both). Whether this becomes reality is yet to be seen.

In any case, in investing, preparation is key! We need to be informed and prepared for what's to come (not that it will necessarily come, else we'd all be billionnaires!)!



Article courtesy of and extracted from
http://www.riskreversal.com/2011/09/27/esfs-greece-piigs-and-banks-what-you-need-to-know/

Here are some bullet points on the rumors out of Europe. First off, if you are hearing about this ESFS for the first time today, here’s what it is. Remember these are rumors and could have been leaked as a trial balloon to see the reactions to various proposals. Some or all of this could change, especially considering all the political moving parts involved. And some or all of the rumors could also be false. So here’s what’s out there:

* EU will forgive 50% of Greek debt and increase the ESFS bailout fund to 2 trillion euros.
* Leveraging up the current EFSF by 10x or 20x by turning it into a bank (by tapping into a credit line from ECB)
* The original ESFS (which was around 440 billon euro) will now be levered up – potentially to 2 trillion+ euro (with backstops and guarantees from the ESFS and ECB)
* Using leverage in this way would allow governments substantially to increase the resources available to the EFSF without having to go back to national parliaments for approval
* Some banks could raise the funds privately, but if they are unable they would either be recapitalised by the state or by the European Financial Stability Facility (EFSF)

There are some potential pitfalls with the plan. Because this is basically using leverage to bail out an economic problem of over-leverage, if this were to go through and down the road sovereign defaults still happened, it would be the end of the Eurozone.

Then there are political ramifications. As mentioned above this is a way for something big to happen without specific ratification in many of the member countries’ parliaments, but it still needs to pass within the organizations involved like the ECB. The ECB has already lost two German members, they cannot afford to lose more.

So this is what it is at the moment, just a plan, and even more, just a rumor of a plan. If it was to become a reality, it is a big deal. This is Europe’s equivalent of the TARP bailout. Whether it happens, or whether it’s enough to stem the risk of both sovereign defaults and bank troubles remains to be seen.

Eight Clues to Happiness

- Flickr image courtesy of robwest

Stumbled across this article, I think it's very true and beneficial.. Enjoy!


Eight Clues to Happiness
by Khushwant Singh

Having lived a reasonably contented life, I was musing over what a person should strive for to achieve happiness. I drew up a list of a few essentials which I put forward for the readers’ appraisal.

1. First and foremost is GOOD HEALTH.

If you do not enjoy good health you can never be happy. Any ailment, however trivial, will deduct from your happiness.

2. Second, A HEALTHY BANK BALANCE.

It need not run into crores but should be enough to provide for creature comforts and something to spare for recreation, like eating out, going to the pictures, travelling or going on holidays on the hills or by the sea.

Shortage of money can be only demoralizing. Living on credit or borrowing is demeaning and lowers one in one’s own eyes.

3. Third, A HOME OF YOUR OWN.

Rented premises can never give you the snug feeling of a nest which is yours for keeps that a home provides: if it has a garden space, all the better.

Plant your own trees and flowers, see them grow and blossom, cultivate a sense of kinship with them.

4. Fourth, AN UNDERSTANDING COMPANION, be it your spouse or a friend.

If there are too many misunderstandings, they will rob you of your peace of mind. It is better to be divorced than to bicker all the time.

5. Fifth, LACK OF ENVY towards those who have done better than you in life; risen higher, made more money, or earned more fame.

Envy can be very corroding; avoid comparing yourself with others.

6. Sixth, DO NOT ALLOW OTHER PEOPLE to descend on you for gup-shup.

By the time you get rid of them, you will feel exhausted and poisoned by their gossip-mongering.

7. Seventh, CULTIVATE SOME HOBBIES which can bring you a sense of fulfilment, such as gardening, reading, writing, painting, playing or listening to music.

Going to clubs or parties to get free drinks or to meet celebrities is criminal waste of time.

8. Eighth, every morning and evening, devote 15 minutes to INTROSPECTION.

In the morning, 10 minutes should be spent on stilling the mind and then five in listing things you have to do that day. In the evening, five minutes to still the mind again, and ten to go over what you had undertaken to do.

RICHNESS is not Earning More, Spending More Or Saving More, but RICHNESS IS WHEN YOU NEED NO MORE

Planting Chilli Padi

In the last few posts, I was talking about my first foray in gardening, ie, planting my first ginger plant. As of today, after about 4 months of first planting, I'm amazed at how it grows and in fact, out of the 2 shoots which I planted, it propagated another 3 more (a total of 5 now) and growing well and healthy. I'm amazed in nature and it's power to give life!

In the first few weeks, as I have mentioned in my previous post, I tried watering the plant once or twice everyday, without fail. After that, my interest waned a little and so did the watering frequency to only once in a week (sometimes only once in 2 weeks)! I'm amazed that after the initial stages it survived so well despite the apparent "drought" caused by it's lazy owner (me!).

Growing Chilli Padi

Now my interest is back and I've just tried germinating a few chilli padi seeds. For those of you non-Asians, chilli padi is a physically "smaller" version of chilli but is extremely spicy and hot! Asians generally love spicy food and thus the demand for this spice is healthy, and from my research, growing this plant is also easy so that's why I'm having a go at it with my not-so-green fingers. Hehe. But I find myself getting excited over the possibility of growing this herb and perhaps one day, growing sustainably my own food! Exciting! The dear wife says that I'm probably getting old because I have so many "old man hobbies". To a certain extent she may be right! I love sipping Chinese Tea, being seated comfortably and checking my stocks and shares, and now even gardening! This sounds too old for a 35 year old right? Haha!

Gardening Actually Sounds Like Investing, Doesn't It?

Actually, to me, gardening is not only about life, but about investing / business also! You get some good seeds (investment ideas), get yourself educated on the activity (investing) and the plant (researching in the company), and start growing your seeds in the soil (putting your seed money in the market). You watch it everyday for a while, and after everything stabilises down, you watch it probably once a week or once a month, monitoring developments, watching out for weeds or pests (bad decisions made by the company), and snip some parts of the plant (cut losses if required). Then yet a while later, you reap the fruits of labour in terms of herb or fruits or vegetable (dividends from the company), and continue to reap the benefits for many many years to come. Picture perfect, isn't it?

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Happy New Year 2011!!

Dear Readers,

Not knowing much, with the blink of an eye, year 2010 has passed us by and now we're in a new year 2011! Here's wishing Everyone a very Happy and Prosperous New Year, blessed with good health always!

MisterG