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Right now, i have finished reading all 4 microeconomics textbooks(recommended by microeconomics' study guide) meanwhile i am about to finish reading Accounting,Banking, and Finance texts very soon by end of this month.
The schedule is quite surprising. SIM has somewhat forced to schedule preliminary exams by end of February till early March. Orignially, SIM thought they will be schedule in March. Sadly, let us see the schedule of preliminary examins and final exam for my year 2.
Preliminary Examination:
Corporate Finance 27/02/08 7pm-10pm(wow, it will be my first time taking exam at night!)
Principles of Banking and Finance 07/03/08 10am-1pm
Principles of Accounting 10/03/08 10am-1pm
Microeconomics 11/03/08 10am-1pm
Final Examination held in Expo for my year 2:
Microeconomics 15th May 10am–1pm
Principles of Accounting 16th May 2.30–5.30pm
Corporate Finance 22nd May 2.30–5.30pm
Principles of Banking and Finance 23rd May 10am–1pm
I wish that the final examination schedule should be like few days study in between two exam papers. Oh well, it doesn't matter since it is already scheduled.
I have studied every day to understand every tiny detail. I seriously want at least 1:1 or 2:1 class degree in order to create another path,if i have such opportunty and money, to study PhD or MSc. I am still considering to enrol MBA in few years time. That is why i am positioning myself to all kinds of possbilities to answer all kind of questions especially open-ended questions or tricky questions(that will 'stun' a lot of people).
I have to inform you readers that I will not set any schedule to post blog entries until end of the May. I can post as much as I can after my Corporate Finance paper.
However, if I need a long hour break from long hours studies, I can make use of it to write blog entry.
Now, let me give my thoughts on two professors/lecturers I respect the most for their original work and idea. They are Benjamin Graham and Peter Drucker.
The first time I heard about Benjamin Graham when I ran on researching stock market investment. From there, I discover his genius work and subsequently bought his books he wrote(Security Analysis 2nd Edition(1940) and The Intelligent Investor(Printed in 2003). I wish I has that chance to attend his class at Columbia Business School at his time. Sadly, he died few ten years ago. Today, I notice that there is a seminar lesson about Bejamin Graham's Security Analysis at Columbia Business School.
Best of all he developed his mathematical formula for security analysis and value investing work. With his research, he disseminated every stock and decide whether to purchase it.
Peter Drucker is yet another brilliant guy who I happen to hear his book 'Practice of Management' which I have bought last few months ago back. I have not read his book yet but I read the one 'A Class With Drucker: The Lost Lessons of the World's Greatest Management Teacher'. The reason why I want to read this book first is to feel his lecturer in class imaginably. Of course, I am in awe with his teaching. What he thought and taught was in the line with what I currently believed. Just throw any management textbooks out and read his work. It will sufficiently shape you into excellent manager. Some contents in the management textbooks are ok but they may be inflexible in such cases which mean impossibe to apply. Best of all, he never work as manager before and yet he was highly soughted for his management consulting.
Sadly again, he died few years ago.
Everyone has a chance to learn new things as they live throughout their own lives but many of them will never realise alternative points of views on such matter.
Let say an example for the sake of simplicity: You want a pay rise because you thought that your work has such significant contribution to the organisation.
From there, the big question always occur in your mind and manager's mind. 'How much is the pay rise and is it justisfied?'
I can tell you that there is no need to bootlick manager's shoes to realise this goal. The key to have it is the trust in between you and manager. If manager know you well and your quality of the work, you are often willing to work with your manager. Then there is a trust and therefore a pay rise will happen. However, if this 'condition' is not present, you will not have it.
I seriously say that one contribution can be not very significant to many of your colleagues and managers but you think it is very significant.
Why is it so? We all live in asymmetric information world. That is where, in terms of this example, you don't really know what your colleagues and managers thinking but you know your own thinking. Likewise, it is the same to your colleagues who know their own thinking but do not know your thinking.
It can effectively apply to stock market: Managers of the public listed firms know the value of their own firms but you investors don't know the exact value of these firms.
Again, it can be used for car market whereby the seller of the car know the condition and quality of the car but you don't know the car's condition and quality.
From that example, that is why you need to send convincing signal to your manager. That is trust. Full stop. Nothing more or less.
From there, I am sure that you can easily develop few different scenario based on asymmetric information world.
Next topic is about education. Not so long ago, I have been reading few The News Papers for different days.
On Monday edition, I am so so so impressed with Larry Haverkamp's 1st year SMU economics students about the Medisave discussion. Like what he say, their comments deserved full marks and come straight from textbook. I suspect it is something to do with Consumer Theory:Slutsky Equivalent Variation(Microeconomics).
On Friday Edition, I see full of local poly schools advertisement. I say they are trying to signal that they are 'quality schools'. It will be good education investment if you are extremely slow learner. But if you are fast-learner or eager to learn a lot as much as you can, then these local schools are BAD investment.
Just go straight to private school doing 1 year or 2 years diploma courses that are awarded by different schools(I highly recommend UOL). I can easily tell you that you will learn much more than what you learn in poly.
How true?You see any foreign countries. Look at their diploma duration and syllabus.
I am really amazed why local poly design the programmes for 3 years especially some irrelevant subjects(history of Singapore or 'how to be good person' or 'how to look after elderly people') In my opinion, such subjects like this should be solely taught in Primary and Secondary schools. Tsk tsk tsk. I do not pity free-going o-level graduates who want to go poly for relaxation. But i do pity the ones who are serious in studies because they only know local poly and its quality. What do you know private schools' programme and its quality. Abosolute zero in their knowledge. That is why there is a need for signalling in asymmetric information world. I know that private schools do some advertising but they don't send powerful messages like local polys to all o level graduate students. Screw advertisement and marketing tools for such stunts.
Sharon told me that i was talented guy and i could have enjoyed in Poly. Well, it is true if i am in Ngee Ann poly, i will probably enjoying all available 'perks'. Ever since i graduate from Accounting HNITEC course, I never had so much free time to enjoy like those poly students. I slogged to graduate from management studies course. I like few subjects but was willing to learn the rest of the subjects.
Right now I am in Banking and Finance degree programme that I want to learn very badly. Although I am suffering, I STILL LOVE LEARNING from all 4 subjects currently.
Finally, I understood why Buffet can adjust his firm capital. I also understood why Ye Rongtian(in the TVB drama 'Threshold of an Era' do such strategies. The answers i develop from my studies of Corporate Finance. I am looking forward to learn many many things!
During my primary school days, I would be staring at the wall at home or playing soccer with my primary school classmates during weekdays(usually afternoon).
Secondary school days?Of course, i spent hours and hours playing computer games.
After Secondary school days?I worked long hours and understood the concept of organisation.
Then ITE? I do accounting homeworks at school or in MRT train and then at home i will be watching loads of Japanese animation and movies.
DMS course?During Semester 5, I started to read and read specialised books about Finance. Not only that, i also play computer games.
I began to play less and less before I started UOL Banking and Finance course.
Today, i study in the morning,afternoon, and night! Most of time in SIM library, National Library(Woodlands and Bugis). But now i am studying at home doing all kinds of questions.
My texts i read are:
And many more. So far i think i have read around more than 1000 pages from these books within few months. However, some books are not within recommended text but i read them to have better and extended understanding of the subject.
Nowadays, teengers have PSPs to play while I read book. This particular friend of mine, Yuan Xiang did an insane thing(i do think so in my own definition) that he sold older verison of ipod video and bought newer verison of ipod. It was like one year later. Not only that, all the money he got from NS spent on PS2(WTF outdated and obsolete machine),ipod video, psp, N95(wtf, he doesn't use every function of this phone other than SMS and phone call). He can't fully utilise all of them.
He will never use PS2 and PSP a lot especially when he play DOTA on pc or play acrade machines at Bugis. It is really no brainer thing.
Young people need to drill the mantra in their heads. 'Do not spend when you hardly use it'
I will never buy psp,ps3 or any kind of things like that. Most of the time, i will be using my books, laptop, and computer.
Next topic...Few months ago back, Eugene with his Citi clear card think he can control. It sound good but future is somethong you can't control. What if you are forced to roll over the credit because of this circumstance.
You don't believe?Just question why many healthy firms suddenly apply Chapter 11 bankruptcy(US law system) to allow them to have enough time to repay to senior and junior creditors. It boils down to economy situation. Every month I see a friend's friend write $500 credit on something(because he also own Citi clear card). I sighed and I fully agree with what Warren Buffet say. Do not own credit card! However there are benefits of credit card to take advantage. Paying purchases on credit without paying now is not the benefit. The true benefit of using credit card is to have discount for certain purchases and allow you to feel comfortable when purchasing online. The rarest benefit which many people(of course normal and common jobs) do not take advantage is to buy things on credit when the job require you to travel for meeting or exhitibition in such short notice. Why buy things when you cannot afford? If you cannot afford, don't buy. Simple like that which mean you don't really use credit card. For me, I may not own credit card in the future unless i travel a lot in such short notice. What i say may not the best thing i can come up but however it is somewhere there to see why many people will never fully utilise their own credit cards. O percent-free installment is gimmick to me. Just pay in full or made down payment and then pay later upon delivery of product!
If you know how bank organisation operate, you should know these kind of stuffs.
I see some real-life stories about having credit card problem. Tsk tsk tsk, little wonder they realise the evil power of credit card. I know people gotta tell me that they can control their own budget. It is the best excuse they can come up with. In future, I will not be surprised that they are at the mercy of bank and banks' stunts.
Oh yes, automobile car is another item that i will never buy in the future. One time, when i was walking from Bukit Timah bus stop(opposite Bukit Timah Shopping Centre), i happen to see an incident where motorcyclist is trying to challenge the taxi driver on the road. It is reckless thing to do. It will result in massive collusion accident if taxi driver obligied. It is about the time to increase the strictness as in fail them if they make any slightest mistake in ethic driving test. There is no mercy at all if they are unleased on the road. Only then, mercy prevails if they can't do on the road because they do not have driving licence.
If i buy car, there is no benefit for me to drive the car. I will see debt and debt and debt. What James Kwan told my Business Finance class about purchasing car is true. You are actually better off not owning any automobile car. No matter how convenient you drive, you are basically paying every day for petrol,ERP,road tax,parking coupon,damages,upgrading,maintainence and etc. Your wealth will never go up as long as you hold normal and common job while being proud car owner. Each car-related expense is hardly utility-maximising.
1)You park illegally, you get caught and pay fine.
2)You park legally in public open carpark, some naughty brat will use key to damange your car inferior plate cover.
3)You forgot to remove cashcard, the thief smash the screen window and disappear with your cash card.
4)Your sloppy car parking cause your car a slight scratch and you need to pay few hundred for repair
5)You can't calculate physics stuff in order to change lane during heavy traffic jam, the other motorist will do the same. You get accident. Hospital bill, car repair bill..
Endless list of problems!
You will discover that each time you try to solve the problem, you will have new problem coming out of the blue.
Next topic is about the fact I encountered last week.
I can't believe how the ending goes like when i saw a Korean Movie titled May 18.
I never pay much attention about political news in Myanmar last year. I only understood how serious it is when I saw this movie. Going through these events knocked me cold and eventually made me to slog harder by studying.
I am very determined to read the Hayek's The Road to Serfdom book after exam.
It is based on true story. I urge you to read my opinion on this movie(at the bottom of the blog entry).
화려한 휴가 (Hwa-ryeo-han Hyoo-ga)(May 18)(Korean Movie 2007)
Synopsis:
Min-woo leads a relatively peaceful life with his younger brother – until the day the soldiers go on the rampage against the citizens. The citizens form a militia determined to protect their loved ones, and Min-woo finds himself in the middle of it all.
Opinions:
I can't believe how South Korean paratroopers treated to their own South Korean citizens. In the end, there is no win-win situation. I feel that we are so fortunate to live in Singapore and Lee Kwan Yew is doing great job providing security which these South Korean citizen never had! I feel that registering such political talk publicly at any police post is good move. Who believe who? It is very easy to spend inaccurate news to one another. US government even can't differentiate the situation like this.*slap my forehead* That is why it is better to let them know what you will be doing. This way you know,they know,public know. So there is no problem.
I feel that changing the military commander every few years is good thing to do. It certainly affect the influence of the army. I understand that doing thing will undermine the quality of leading the army BUT military leader must know how to command army in such short time. It is not impossible. Just imagine that your own country army can't differetiate you from dissenters, you will be beaten up for wrong reason. I finally understood why history always repeat. People always forget and forget!
IF you are not convinced, just watch this movie. By then, you will be convinced why I say that.
Rating:8/10
Bonsuses:1)great lesson to learn from 2)excellent acts 3)blood,cruelity,gore and many more
Over Drive (Japanese Anime 2007)(26 Episodes)
Synopsis:
The story begins with a flashforward to the Tour de France, where Mikoto Shinozaki would become the first Japanese champion.
Time before this, and while feeling a deep crush on Yuki Fukazawa, Mikoto then decides to get into his high school cycling club as Fukuzawa's suggestion, even though he has never practiced any sport before. Ironically, the club's leader is Yousuke, Fukuzawa's older brother and a renowned road racer from his town. Yousuke's long time cycling partner and club's vice president Kouichi Terao sees in Shinozaki all the potential and courage necessary to become a road cycling legend.
Over drive is the story of how Mikoto Shinozaki becomes interested in cycling and all the ups and downs he must live to get his dream of becoming Tour de France's champion come true.
Opinions:
Kudo to Shinozaki.He first time cycle competitively against veteran and professional cyclists. Crossing around 4 mountains to complete within less than 7 hours. Each time he feel like giving up, he still persist cycling!
Rating:7/10
Bonuses:1)Cycling spirit 2)never-say-die spirit
Book:A Class With Drucker: The Lost Lessons of the World's Greatest Management Teacher
Synopsis:
Long considered the world’s greatest thinker and writer on management, Peter Drucker’s teachings continue to inspire leaders everywhere. From 1975 to 1979, author William Cohen studied under the Great Man and became the first graduate of his doctoral program. What Drucker taught him literally changed his life. In a matter of a few years, he was recommissioned in the Air Force and rose to the rank of major general. Eventually, he became a full professor, management consultant, multibook author, and university president – as well as maintaining a nearly lifelong friendship with the master.
In A Class with Drucker, Cohen shares many of Drucker’s teachings that never made it into his countless books and articles, ideas that were offered to his students in classroom or informal settings. Cohen expands on Drucker’s lessons with personal anecdotes about his teacher’s personality, lack of pretension, and interactions with students and others. He also shows how Drucker’s ideas can be applied to the real-world challenges managers face today. Now every reader can benefit from Drucker’s thoughts on such topics as:
* what everybody knows is frequently wrong * why everyone should approach problems with their ignorance * top executives should stay no longer than six years * some so-called menial tasks can only be done by the boss * what everyone needs to be an effective manager * why self-confidence is a necessity
Enlightening and intriguing, A Class with Drucker will enable anyone to gain from the timeless wisdom of the inspiring man himself
Opinions:
Great book. Just read it. I need not to say this much.
Rating:10/10
Tony Del Piero wrote and posted at at 10:45 pm
