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Post by oldman on Jan 27, 2015 13:14:50 GMT 7
I recall publishing my first book on entrepreneurship and I received a letter from the National Library indicating that publishers have to give 100 copies of any newly published book to the library! It is hard not to abide but it seems to be a rather strange request in that one is giving his books for free to the library and this will certainly impact the sales of the newly launched book. A trick I later learned is that if there is a second edition of the book, there is then no need to give any of these books to the library! Hence, there are benefits in having a second edition of a book even though the contents may be drastically changed. Yes, Kino did have some stocks of the book. I think the publishers are unlikely to reprint the book and I hope this will be the case as I think contractually, the rights will be reverted fully back to me after a lapse of a few years.  Thank you oldman. I made a mistake. Your book Your First Million: Making it in Stocks that I read was the 2009 (1st edition) and not the 2012 (revised edition). I have been hunting high and low to find a copy of the 2012 edition from NLB and 2nd hand bookstores but to no avail. Even the 1st edition was not easy to find from the NLB because on a few of occasions they were listed as available but I simply could not locate them in the library. I finally found a copy of the 2009 edition at Bukit Batok Library. When I tried to find the 2012 edition, I found another copy of the 2009 edition at the Queenstown library. The NLB online catalogue does not seem to differentiate the 1st and 2nd edition and list them as 2012 edition. If any kind soul knows where to find a copy of the 2012 edition, please let me know. I am keen to buy or lend a copy. PS: After my post, I found out that the 2012 edition is still available from Kinokuniya Singapore and has asked them to reserve a copy for me. |
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Post by me200 on Jan 27, 2015 13:50:24 GMT 7
Oldman, Is it a mandatory requirement that publishers have to give 100 copies to library? There are many local authors writing about financial planning, investment and so on, how come I didn't see them in the library?  I recall publishing my first book on entrepreneurship and I received a letter from the National Library indicating that publishers have to give 100 copies of any newly published book to the library! It is hard not to abide but it seems to be a rather strange request in that one is giving his books for free to the library and this will certainly impact the sales of the newly launched book. A trick I later learned is that if there is a second edition of the book, there is then no need to give any of these books to the library! Hence, there are benefits in having a second edition of a book even though the contents may be drastically changed. Yes, Kino did have some stocks of the book. I think the publishers are unlikely to reprint the book and I hope this will be the case as I think contractually, the rights will be reverted fully back to me after a lapse of a few years. Thank you oldman. I made a mistake. Your book Your First Million: Making it in Stocks that I read was the 2009 (1st edition) and not the 2012 (revised edition). I have been hunting high and low to find a copy of the 2012 edition from NLB and 2nd hand bookstores but to no avail. Even the 1st edition was not easy to find from the NLB because on a few of occasions they were listed as available but I simply could not locate them in the library. I finally found a copy of the 2009 edition at Bukit Batok Library. When I tried to find the 2012 edition, I found another copy of the 2009 edition at the Queenstown library. The NLB online catalogue does not seem to differentiate the 1st and 2nd edition and list them as 2012 edition. If any kind soul knows where to find a copy of the 2012 edition, please let me know. I am keen to buy or lend a copy. PS: After my post, I found out that the 2012 edition is still available from Kinokuniya Singapore and has asked them to reserve a copy for me. |
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Post by oldman on Jan 27, 2015 15:23:44 GMT 7
I am not sure but I think when SPH published my investment book, I recall that they too have to give away some copies to the library. Oldman, Is it a mandatory requirement that publishers have to give 100 copies to library? There are many local authors writing about financial planning, investment and so on, how come I didn't see them in the library? I recall publishing my first book on entrepreneurship and I received a letter from the National Library indicating that publishers have to give 100 copies of any newly published book to the library! It is hard not to abide but it seems to be a rather strange request in that one is giving his books for free to the library and this will certainly impact the sales of the newly launched book. A trick I later learned is that if there is a second edition of the book, there is then no need to give any of these books to the library! Hence, there are benefits in having a second edition of a book even though the contents may be drastically changed. Yes, Kino did have some stocks of the book. I think the publishers are unlikely to reprint the book and I hope this will be the case as I think contractually, the rights will be reverted fully back to me after a lapse of a few years. |
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Post by oldman on Feb 3, 2015 6:17:05 GMT 7
I just received the statement of book sales for last year and interestingly, the book sales was 100% more than the year before! I will not be surprised if SPH does another reprint of the book instead. I recall publishing my first book on entrepreneurship and I received a letter from the National Library indicating that publishers have to give 100 copies of any newly published book to the library! It is hard not to abide but it seems to be a rather strange request in that one is giving his books for free to the library and this will certainly impact the sales of the newly launched book. A trick I later learned is that if there is a second edition of the book, there is then no need to give any of these books to the library! Hence, there are benefits in having a second edition of a book even though the contents may be drastically changed. Yes, Kino did have some stocks of the book. I think the publishers are unlikely to reprint the book and I hope this will be the case as I think contractually, the rights will be reverted fully back to me after a lapse of a few years. Thank you oldman. I made a mistake. Your book Your First Million: Making it in Stocks that I read was the 2009 (1st edition) and not the 2012 (revised edition). I have been hunting high and low to find a copy of the 2012 edition from NLB and 2nd hand bookstores but to no avail. Even the 1st edition was not easy to find from the NLB because on a few of occasions they were listed as available but I simply could not locate them in the library. I finally found a copy of the 2009 edition at Bukit Batok Library. When I tried to find the 2012 edition, I found another copy of the 2009 edition at the Queenstown library. The NLB online catalogue does not seem to differentiate the 1st and 2nd edition and list them as 2012 edition. If any kind soul knows where to find a copy of the 2012 edition, please let me know. I am keen to buy or lend a copy. PS: After my post, I found out that the 2012 edition is still available from Kinokuniya Singapore and has asked them to reserve a copy for me. |
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Post by web on Feb 18, 2015 5:02:25 GMT 7
I managed to locate the 4 posts which I posted on shareinvestor.com - yes, only 4 posts even though I have been a member since February 2004. I posted on the Investment Strategies thread on 28 and 29 November 2007 and the two persons I communicated with are oldman and spuddy. Unfortunately I can only access the 4 posts I posted but not the entire thread as it is closed and not accessible now.
Below is one of the 4 posts, which still makes an interesting read for me today.
Oldman,
Thank you very much for your advice. I will try what you have suggested. I started as a value investor (like many others) in late 2003 but got burn with Unifood when I thought I knew what was value investment after reading a number of books and learning from a few people from some value investment forums. On hindsight, I did not know much then, and possibly I still do not know much now.
As mentioned in my previous post, I like your approach. But I foresee that I will not be confident enough to put a substantial amount of my net worth in just a few illiquid stocks even though they may be found to have extremely sound fundamentals and offer ridiculous margin of safety. My confidence level will not be that high because, firstly, I may not know that I have not known enough and may have overlooked certain potential pitfalls; secondly, I will be more easily affected by fear when too much is at stake; thirdly, the megatrend has persisted for more than 4 years and the fall will be very heavy when the megatrend reverses.
As you have rightly pointed out in a number of your posts, the value investment aproach is much more risky than the TA approach because big loss could be prevented for the later if one religiously cut loss when a wrong call is made but the loss could be very substantial when a value investor makes a mistake. In consideration of the above, I will start small with a $50k portfolio to experiement with this approach.
Over the last few years, I found out that apart from inadequate knowledge and experience, my poor return is also owing to my lack of patience, being too fickle minded and not putting in enough hard work. I hope I could rectify these weaknesses in this market cycle and get a good return in the next megatrend
Someone in this tread wrote about the 3rd market cycle that one would experience would be the one that a giant killing could be made because he/she would have enough capital and knowledge/experience then to reap maximum benefit. I forgot who penned those words but will find out later so that I could give him/her proper credit. Though this is the 1st market cycle I have experienced, I am atypical because I started stock investment very late! I have the capital but needs to beef up on the knowledge and experience.
Enough for now and I shall reply to spuddy later tonight or tomorrow. I hope to be able to learn more from both of you and others in this forum.
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Post by oldman on Feb 18, 2015 6:06:49 GMT 7
Interestingly, the posting is still very applicable today. What has changed somewhat is my investment strategy. I am now less inclined to simply invest in undervalued situations because one is under the mercy of management as to whether they will take care of themselves first or be fair to the minority shareholders. Sadly, most will take care of themselves first. As a result, some of these undervalued situations become overvalued when management intentionally buys into an overvalued company and hence, transferring money from the undervalued listed company to the acquired target company. More than likely, there will be invisible transactions in between. As far as the listed company is concerned, management made a poor business judgement and the existing shareholders suffer as a result. There is no recourse for minority shareholders when management makes a poor business decision. I have seen too many of these situations and hence, I have added in another criteria in my investment strategy.... which is that I will only invest in undervalued situations if it is run by top entrepreneurs who have already made their fortunes elsewhere as explained in my posting below. pertama.freeforums.net/thread/72/investing-top-entrepreneursI managed to locate the 4 posts which I posted on shareinvestor.com - yes, only 4 posts even though I have been a member since February 2004. I posted on the Investment Strategies thread on 28 and 29 November 2007 and the two persons I communicated with are oldman and spuddy. Unfortunately I can only access the 4 posts I posted but not the entire thread as it is closed and not accessible now. Below is one of the 4 posts, which still makes an interesting read for me today. Oldman, Thank you very much for your advice. I will try what you have suggested. I started as a value investor (like many others) in late 2003 but got burn with Unifood when I thought I knew what was value investment after reading a number of books and learning from a few people from some value investment forums. On hindsight, I did not know much then, and possibly I still do not know much now. As mentioned in my previous post, I like your approach. But I foresee that I will not be confident enough to put a substantial amount of my net worth in just a few illiquid stocks even though they may be found to have extremely sound fundamentals and offer ridiculous margin of safety. My confidence level will not be that high because, firstly, I may not know that I have not known enough and may have overlooked certain potential pitfalls; secondly, I will be more easily affected by fear when too much is at stake; thirdly, the megatrend has persisted for more than 4 years and the fall will be very heavy when the megatrend reverses. As you have rightly pointed out in a number of your posts, the value investment aproach is much more risky than the TA approach because big loss could be prevented for the later if one religiously cut loss when a wrong call is made but the loss could be very substantial when a value investor makes a mistake. In consideration of the above, I will start small with a $50k portfolio to experiement with this approach. Over the last few years, I found out that apart from inadequate knowledge and experience, my poor return is also owing to my lack of patience, being too fickle minded and not putting in enough hard work. I hope I could rectify these weaknesses in this market cycle and get a good return in the next megatrend Someone in this tread wrote about the 3rd market cycle that one would experience would be the one that a giant killing could be made because he/she would have enough capital and knowledge/experience then to reap maximum benefit. I forgot who penned those words but will find out later so that I could give him/her proper credit. Though this is the 1st market cycle I have experienced, I am atypical because I started stock investment very late! I have the capital but needs to beef up on the knowledge and experience. Enough for now and I shall reply to spuddy later tonight or tomorrow. I hope to be able to learn more from both of you and others in this forum. |
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Thank you oldman.
