If your company, Comb manufacturers assigned you to sell the comb to the monks in the temples? Can you do it?
What is your answer?
a) No Way , Impossible
b) Crazy
c) I will give it a try in order to follow my boss instruction
d) Well, I will try.
e) Ya, I think I can sell ??? (5pcs? 10pcs?50pcs? or more...you name it)
Pick an answer above and read below to find out if you are/you are going to be a successful person or not at all.
The Story : SELLING COMB TO THE MONKS =======================================
There was one company "manufacturing combs" which intends to expand its business and so the management wanted to employ a new Sales Manager.
The company ADVERTISED the vacancy in thenewspaper. They are so many people turned up for the interview everyday....accumulated to almost a hundred people in just few days...
The Company now having the problem to choose the right candidate for this position . So, The Company interviewer had set A Difficult Task to whom who want to come for final interview.
The Task Is To : Selling Comb To Monks InTemples
Only 3 Applicants willing to stay on for this Final Interview challenge. (Mr A , Mr B , Mr C)
The Chief Interviewer instructed: "Now Iwant three of you here to sell these wooden combs to themonks in the temples. You only have 10 days to do it and report to me after that ."
After 10 days, they reported .
The Chief Interviewer asked Mr A: Ho w many have you sold?
Mr A Answered: Only One.
The Chief Interviewer Asked: How did you manage to sell?
Mr A Answered: The monks in the temples scolded me when I show them the comb . But on my way back to down hill I met a young monk who bought it to scratch his head due to dandruff".
The Chief Interviewer then asked Mr B: Ho w manydid you sell?
Mr B replied: 10 pieces. I went to a shrine and noticed many devotees's hair was in bad shape due to strong wind outside the shrine. The monk in there listened to my advice and bought 10 combs for their devotees in showing respect to the Buddha statue.
Then, The Chief Interviewer asked Mr C: Ho wabout you?
Mr C replied: 1,000 units.
The Chief Interviewer and the other 2interviews were astounded.
The Chief Interviewer asked: Ho w you did that?
Mr C replied: I went to a famous temple. After observing for few days I discovered that there were many tourists. I then told the Chief Abbot there. "Sifu, those who come here are much devoted. If you could give them a gift, it will be more elating to them. I told him that I have a bulk of combs here and ask him to raft his handwriting on the combs as a present to those visit here. He was very delighted and straight away ordered 1,000 pieces."
The End of Story .
----
MORAL OF THE STORY ;
====================
HARVARD UNIVERSITY had done a research that says :-
1) 85% of success is due to attitude and 15% is capability
2) Attitude is more important than intelligence, specials skills and luck .
In another word, professional knowledge only constitutes for 15% of success of a person and 85% is due to self-cultivation, public relation and adaptability ability .
Still remember the story of Selling Shoes to African ? When 2 Salesmen were sent to that continent, one of them reported: Can not do it. No one wears shoes there? The second salesman said: It is good to market . A lot ofopportunity .
Success and Failure is dependant on how we face problems.
My dear friends ,
Do you know eagle lives up to about 70 of age? But when it reach about 40 yrs old, it claws start to age and can not grab the preys. It also can not fly as well. So, it is time for the eagle to make a choice; wait for thedeath or goes through a renewal process. If it choose to live, it must try its best flying to the top of the hill. Onthe hill top/summit, it will stay for 150 days. Over the top, it will hits it feathers to the stone so that they will drop and wait for the new ones to grow. After the feathershave grown enough which is about 150 days, it will continue its balance for 30 years life.
Remember, when the economic is good, there are peoples going bankrupt. When business is bad , there are many new millionaires produced as well. So, apply now the 85% rightworking attitude fully.
All the best!
Saturday, August 1, 2009
Saturday, July 18, 2009
Friday, July 17, 2009
+Thrive+Jan+2009.GIF)
+Thrive+Jan+2009.GIF)
Thursday, July 16, 2009
Unit Trust In Brief
A unit trust is a financial vehicle through which individuals may invest their money. The idea behind unit trust is better returns through collective investing. In other words, it means pooling the investments of many investors, individuals and institutions.
Investing in a unit trust offers investors numerous advantages, including:
a. Professional management at a low cost
b. Safety through the spreading of risk (diversification)
c. Liquidity
d. Ease of transaction
e. Capital appreciation/income stream
The operation of a unit trust may be best explained by outlining its similarities with the operation of a bank. Many individuals deposit money in the banks, for which they receive interest. These individuals expect complete liquidity where they are able to withdraw their deposits in cash at any time. The banks employ professional managers to look after the deposits, which are invested. These managers lend the deposits to other individuals requiring funds and a host of other profit generating facilities of the banks.
Similarly, unit trust holders wish to put their money to generate higher returns. The goal of all investments is to make money work harder, either through producing income or growth. Unit trust holders have liquidity because their units can be readily converted into cash at any time. By investing in unit trusts, it allows them to engage professional fund management companies at a low cost to the individual investors. These management companies diversify the investible funds in many different securities and other approved channels to spread the risk.
The unit trust is constituted through a document known as a Deed which brings together and binds the various parties to the deed:
* The trustee, who holds the assets of the trusts on behalf of the unitholders.
* The management company, who is the promoter of the scheme and provides investment and administrative expertise as well as markets units to the public.
* The unitholders who provide the funds for investment and expect to receive the benefits derived from the investment. The effect of dividing the beneficiaries' interest in the trust into units is that their interest is quantified into discrete portions.
Particular advantages of unit trusts over the pooled investments include:
* The provision of an independent trustee to hold the trust's assets on behalf of unitholders and to watch over their interests on an on-going basis.
* The deed and prospectus are scrutinised by government authorities, prior to an offer of units being made to the general public. The management companies and trustee are themselves approved by the regulators.
* A buy back provision or covenant in each deed which requires the management company to redeem an investor's units within a specified time limit at a price determined in accordance with the deed.
* Provisions in the deed under which the management company and trustee are in a fiduciary position in relation to the trust (i.e. they can only profit in ways laid down under the deed). The investor can determine in advance what costs and charges they will be required to pay to join and stay in the trust.
Investing in a unit trust offers investors numerous advantages, including:
a. Professional management at a low cost
b. Safety through the spreading of risk (diversification)
c. Liquidity
d. Ease of transaction
e. Capital appreciation/income stream
The operation of a unit trust may be best explained by outlining its similarities with the operation of a bank. Many individuals deposit money in the banks, for which they receive interest. These individuals expect complete liquidity where they are able to withdraw their deposits in cash at any time. The banks employ professional managers to look after the deposits, which are invested. These managers lend the deposits to other individuals requiring funds and a host of other profit generating facilities of the banks.
Similarly, unit trust holders wish to put their money to generate higher returns. The goal of all investments is to make money work harder, either through producing income or growth. Unit trust holders have liquidity because their units can be readily converted into cash at any time. By investing in unit trusts, it allows them to engage professional fund management companies at a low cost to the individual investors. These management companies diversify the investible funds in many different securities and other approved channels to spread the risk.
The unit trust is constituted through a document known as a Deed which brings together and binds the various parties to the deed:
* The trustee, who holds the assets of the trusts on behalf of the unitholders.
* The management company, who is the promoter of the scheme and provides investment and administrative expertise as well as markets units to the public.
* The unitholders who provide the funds for investment and expect to receive the benefits derived from the investment. The effect of dividing the beneficiaries' interest in the trust into units is that their interest is quantified into discrete portions.
Particular advantages of unit trusts over the pooled investments include:
* The provision of an independent trustee to hold the trust's assets on behalf of unitholders and to watch over their interests on an on-going basis.
* The deed and prospectus are scrutinised by government authorities, prior to an offer of units being made to the general public. The management companies and trustee are themselves approved by the regulators.
* A buy back provision or covenant in each deed which requires the management company to redeem an investor's units within a specified time limit at a price determined in accordance with the deed.
* Provisions in the deed under which the management company and trustee are in a fiduciary position in relation to the trust (i.e. they can only profit in ways laid down under the deed). The investor can determine in advance what costs and charges they will be required to pay to join and stay in the trust.
Monday, January 19, 2009
Markets set to rebound in the 2nd half
Article : Markets set to rebound in the 2nd half.This article is from The Star Online (http://thestar.com.my/)URL: http://biz.thestar.com.my/news/story.asp?file=/2009/1/12/business/2968111&sec=business
PETALING JAYA: Asian markets, including Malaysia, should post healthier gains on anticipated economic recovery in the second half of this year, Standard & Poor’s (S&P) vice-president (equity research, Asia) Lorraine Tan said. But she expects markets to consolidate and range-trade perhaps after the Chinese New Year. “On the whole, we expect about 43% upside for Asian equities by end-2009,” she told StarBiz.
Tan said unfortunately the worst was not over and that risks might come from a poor forthcoming results season that might dent company expectations. “The slowest growth for Asia is expected to occur in the first quarter, which could lead to further pressure on companies’ balance sheets and cash flows,” she said.
She said S&P economists anticipated the US economy to start recovering in the second half, although full-year 2009 would still show a contraction.“Our US strategy team expects the S&P 500 to close 2009 at the 1,025 level, representing a 20% upside from the 2008 close. We believe Asian markets will see a sharper rebound,” she said.
Tan attributed the rebound mainly due to the severity of the market fall in Asia , despite having strong fundamentals, and expected the Asian financial system to remain intact. She said while the US economy remained fragile, it should start to recover in the second half. as the subprime crisis bottomed out (which should remove the 1% drag on US growth). This will be aided by the over US$1 trillion stimulus packages combined with falling energy prices, which should benefit US consumers by over US$200mil. She said the rebound was under the assumption that the November market low was indeed the bottom for the US market.
In the near term, Tan said default rates might rise in Asia, possibly a result of cyclical downturn as opposed to the US and parts of Europe where default rates were a direct result of the credit crisis. She believed Asian banks and corporations needed limited restructuring, which should hasten the economic recovery process.
On the recent market rally, she said: “We believe the recent rally in the equity markets was warranted with many issues having fallen below reasonable fundamental levels due largely to deleveraging and redemptions by global investors.
“At current price levels, we believe values are more reflective of the economic climate and, given continued earnings uncertainty for some companies, we feel the downside risk for some may have risen.”
Overall, Tan expected a better year with equity markets generally ahead six months in advance of an actual economic recovery.
But Schroders ( Malaysia ) head of retail distribution Josephine Lip has a more conservative outlook on the recovery of the equity markets.
“We expect a modest recovery in 2010 despite the world’s governments and central banks’ efforts to breathe life into the ailing global economies,” she said.
So far, she said, actions taken by the monetary authorities, including significant interest rate cuts and huge injections of capital, had little material effect.
“But the efforts will pay dividends in time and, with inflation under control, and lower commodity prices, real incomes should receive a boost,” Lip said, adding that tax cuts could also provide additional income for households.
Lip said Schroders remained cautious given that monetary policy was still struggling for traction, thus limiting earnings visibility, presenting a hurdle for recovery in equities and risk assets in general.
“ Ho wever, there is undoubtedly significant values to be found in equity markets, so we have moved to a ‘neutral’ position (from ‘underweight’), in the belief policy action should support markets in the months ahead,” she said.
Against this backdrop, Lip said Schroders was “positive” on bonds (against “neutral” for equities and cash), with a preference for investment grade, high yield and inflation-linked over conventional government bonds.
“Investment grade and high-yield valuations are looking attractive given that spreads are at historically wide levels and given reasons for thinking credit may lead in the current cycle with a recovery in credit markets a pre-requisite for a recovery in equities,” Lip noted.
She said although there was the risk of spreads widening further, Schroders believed the market had discounted most of the bad news.
Lip also said president-elect Barack Obama’s fiscal package, combined with ongoing efforts of central banks to boost growth, should provide scope for positive surprises.“This is especially so given investors’ sentiment was already at extremely depressed levels, with the US market discounting a fall in earnings of 25% to 30% based on our estimates,” she said.
On Asian markets, Lip said the region did not face the same financial risks as the West as it had undergone its own deleveraging process after the Asian financial crisis. “When risk appetites return, Asia should recover more quickly than the West due to its well-capitalised banking system and limited leverage problems,” she said.
Schroders recognised there was significant value to be unlocked in equities and that sentiment and economic outlook was currently very poor, she said, adding that it believed the unprecedented policy response from central banks and governments should eventually take effect and support markets in the months ahead.
“We are cognisant that any improvement in the performance of risk assets could turn out to be a bear market rally, so we remain vigilant should sentiment take a renewed turn for the worse.”
ref="http://biz.thestar.com.my/marketwatch/" target="on_top">For latest Bursa Malaysia indices, charts and other information
PETALING JAYA: Asian markets, including Malaysia, should post healthier gains on anticipated economic recovery in the second half of this year, Standard & Poor’s (S&P) vice-president (equity research, Asia) Lorraine Tan said. But she expects markets to consolidate and range-trade perhaps after the Chinese New Year. “On the whole, we expect about 43% upside for Asian equities by end-2009,” she told StarBiz.
Tan said unfortunately the worst was not over and that risks might come from a poor forthcoming results season that might dent company expectations. “The slowest growth for Asia is expected to occur in the first quarter, which could lead to further pressure on companies’ balance sheets and cash flows,” she said.
She said S&P economists anticipated the US economy to start recovering in the second half, although full-year 2009 would still show a contraction.“Our US strategy team expects the S&P 500 to close 2009 at the 1,025 level, representing a 20% upside from the 2008 close. We believe Asian markets will see a sharper rebound,” she said.
Tan attributed the rebound mainly due to the severity of the market fall in Asia , despite having strong fundamentals, and expected the Asian financial system to remain intact. She said while the US economy remained fragile, it should start to recover in the second half. as the subprime crisis bottomed out (which should remove the 1% drag on US growth). This will be aided by the over US$1 trillion stimulus packages combined with falling energy prices, which should benefit US consumers by over US$200mil. She said the rebound was under the assumption that the November market low was indeed the bottom for the US market.
In the near term, Tan said default rates might rise in Asia, possibly a result of cyclical downturn as opposed to the US and parts of Europe where default rates were a direct result of the credit crisis. She believed Asian banks and corporations needed limited restructuring, which should hasten the economic recovery process.
On the recent market rally, she said: “We believe the recent rally in the equity markets was warranted with many issues having fallen below reasonable fundamental levels due largely to deleveraging and redemptions by global investors.
“At current price levels, we believe values are more reflective of the economic climate and, given continued earnings uncertainty for some companies, we feel the downside risk for some may have risen.”
Overall, Tan expected a better year with equity markets generally ahead six months in advance of an actual economic recovery.
But Schroders ( Malaysia ) head of retail distribution Josephine Lip has a more conservative outlook on the recovery of the equity markets.
“We expect a modest recovery in 2010 despite the world’s governments and central banks’ efforts to breathe life into the ailing global economies,” she said.
So far, she said, actions taken by the monetary authorities, including significant interest rate cuts and huge injections of capital, had little material effect.
“But the efforts will pay dividends in time and, with inflation under control, and lower commodity prices, real incomes should receive a boost,” Lip said, adding that tax cuts could also provide additional income for households.
Lip said Schroders remained cautious given that monetary policy was still struggling for traction, thus limiting earnings visibility, presenting a hurdle for recovery in equities and risk assets in general.
“ Ho wever, there is undoubtedly significant values to be found in equity markets, so we have moved to a ‘neutral’ position (from ‘underweight’), in the belief policy action should support markets in the months ahead,” she said.
Against this backdrop, Lip said Schroders was “positive” on bonds (against “neutral” for equities and cash), with a preference for investment grade, high yield and inflation-linked over conventional government bonds.
“Investment grade and high-yield valuations are looking attractive given that spreads are at historically wide levels and given reasons for thinking credit may lead in the current cycle with a recovery in credit markets a pre-requisite for a recovery in equities,” Lip noted.
She said although there was the risk of spreads widening further, Schroders believed the market had discounted most of the bad news.
Lip also said president-elect Barack Obama’s fiscal package, combined with ongoing efforts of central banks to boost growth, should provide scope for positive surprises.“This is especially so given investors’ sentiment was already at extremely depressed levels, with the US market discounting a fall in earnings of 25% to 30% based on our estimates,” she said.
On Asian markets, Lip said the region did not face the same financial risks as the West as it had undergone its own deleveraging process after the Asian financial crisis. “When risk appetites return, Asia should recover more quickly than the West due to its well-capitalised banking system and limited leverage problems,” she said.
Schroders recognised there was significant value to be unlocked in equities and that sentiment and economic outlook was currently very poor, she said, adding that it believed the unprecedented policy response from central banks and governments should eventually take effect and support markets in the months ahead.
“We are cognisant that any improvement in the performance of risk assets could turn out to be a bear market rally, so we remain vigilant should sentiment take a renewed turn for the worse.”
ref="http://biz.thestar.com.my/marketwatch/" target="on_top">For latest Bursa Malaysia indices, charts and other information
Tuesday, November 11, 2008
Buy America. I Am.
Warren Buffet reminds investors how to behave now
Times are tough. During these chaotic times, the principals of proper portfolio management are crucial:
1. Don't sell into fear
2. Rebalance your portfolio to buy equity
3. Continue dollar cost averaging
4. Inject cash if you have it
Warren Buffet affirmed this very powerfully in the New York Times last week. Nobody explains it better:
Buy America. I Am.
By Warren E. Buffett
The financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.
So ... I've been buying American stocks. This is my personal account I'm talking about, in which I previously owned nothing but United States government bonds. (This description leaves aside my Berkshire Hathaway holdings, which are all committed to philanthropy.) If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities.
Why?
A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation's many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.
Let me be clear on one point: I can't predict the short-term movements of the stock market. I haven't the faintest idea as to whether stocks will be higher or lower a month — or a year — from now. What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over.
A little history here: During the Depression, the Dow hit its low, 41, on July 8, 1932. Economic conditions, though, kept deteriorating until Franklin D. Roosevelt took office in March 1933. By that time, the market had already advanced 30 percent. Or think back to the early days of World War II, when things were going badly for the United States in Europe and the Pacific. The market hit bottom in April 1942, well before Allied fortunes turned. Again, in the early 1980s, the time to buy stocks was when inflation raged and the economy was in the tank. In short, bad news is an investor's best friend. It lets you buy a slice of America 's future at a marked-down price.
Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.
You might think it would have been impossible for an investor to lose money during a century marked by such an extraordinary gain. But some investors did. The hapless ones bought stocks only when they felt comfort in doing so and then proceeded to sell when the headlines made them queasy.
Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. Indeed, the policies that government will follow in its efforts to alleviate the current crisis will probably prove inflationary and therefore accelerate declines in the real value of cash accounts.
Equities will almost certainly outperform cash over the next decade, probably by a substantial degree. Those investors who cling now to cash are betting they can efficiently time their move away from it later. In waiting for the comfort of good news, they are ignoring Wayne Gretzky's advice: "I skate to where the puck is going to be, not to where it has been."
I don't like to opine on the stock market, and again I emphasize that I have no idea what the market will do in the short term. Nevertheless, I'll follow the lead of a restaurant that opened in an empty bank building and then advertised: "Put your mouth where your money was." Today my money and my mouth both say equities.
Source: Warren Buffet, "Buy America. I Am.", New York Times, 17th October
Times are tough. During these chaotic times, the principals of proper portfolio management are crucial:
1. Don't sell into fear
2. Rebalance your portfolio to buy equity
3. Continue dollar cost averaging
4. Inject cash if you have it
Warren Buffet affirmed this very powerfully in the New York Times last week. Nobody explains it better:
Buy America. I Am.
By Warren E. Buffett
The financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.
So ... I've been buying American stocks. This is my personal account I'm talking about, in which I previously owned nothing but United States government bonds. (This description leaves aside my Berkshire Hathaway holdings, which are all committed to philanthropy.) If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities.
Why?
A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation's many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.
Let me be clear on one point: I can't predict the short-term movements of the stock market. I haven't the faintest idea as to whether stocks will be higher or lower a month — or a year — from now. What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over.
A little history here: During the Depression, the Dow hit its low, 41, on July 8, 1932. Economic conditions, though, kept deteriorating until Franklin D. Roosevelt took office in March 1933. By that time, the market had already advanced 30 percent. Or think back to the early days of World War II, when things were going badly for the United States in Europe and the Pacific. The market hit bottom in April 1942, well before Allied fortunes turned. Again, in the early 1980s, the time to buy stocks was when inflation raged and the economy was in the tank. In short, bad news is an investor's best friend. It lets you buy a slice of America 's future at a marked-down price.
Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.
You might think it would have been impossible for an investor to lose money during a century marked by such an extraordinary gain. But some investors did. The hapless ones bought stocks only when they felt comfort in doing so and then proceeded to sell when the headlines made them queasy.
Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. Indeed, the policies that government will follow in its efforts to alleviate the current crisis will probably prove inflationary and therefore accelerate declines in the real value of cash accounts.
Equities will almost certainly outperform cash over the next decade, probably by a substantial degree. Those investors who cling now to cash are betting they can efficiently time their move away from it later. In waiting for the comfort of good news, they are ignoring Wayne Gretzky's advice: "I skate to where the puck is going to be, not to where it has been."
I don't like to opine on the stock market, and again I emphasize that I have no idea what the market will do in the short term. Nevertheless, I'll follow the lead of a restaurant that opened in an empty bank building and then advertised: "Put your mouth where your money was." Today my money and my mouth both say equities.
Source: Warren Buffet, "Buy America. I Am.", New York Times, 17th October
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