Saturday, October 27, 2012

neither rich nor poor

i presume that's where most of us are in the grand scheme of things, although wealth & poverty are relatively subjective measures.

i'm thinking of the few punters who were reported recently to have hit jackpots of millions of ringgit.

i'm also thinking of a few friends of mine who had made on-the-spot property investment decisions, hitting that narrow window of opportunity, that had paid off handsomely.

the quickest decision i've ever made investing in a property was buying the house i'm currently staying. we went to the developer's office, glanced thru the plans, grimmaced at the price & paid the booking fee, all within 20mins of entering the office. that's only because we've been renting for 2 years & we thought that if we're staying on, we might as well get our own house.

all other investment decisions would take up days of mulling & deliberating. most instances, the circumstances have changed by the time we made a decsion.

time is money, right?

enter the genneva gold investment scheme.

a close friend had quit his day job to join genneva as a sales consultant. he had invited me to several of their investment talks, of which i have only attended one. however, i was quite sceptical of their business model because it was multi-level ponzi-like scheme. if i were to take that risk, it was only because of my dear friend's genuine persuasion. it was during this prolonged period of considering & re-considering, & weighing the pros & cons that bank negara raided the company.

that made the decision for me, & arguably for many other potential investors. indeed, time is money but probably not many envisaged money can be lost this way, too.

so, there i remain, right smack in the middle of the grand scheme of things, being neither rich nor poor.

for most of us, that's probably the safest place to be.

 But godliness with contentment is great gain. For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that. Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.
1 Tim 6: 6-10

12 comments:

ilene ong said...

Doc, you should listen to the testimony of Dr Richard Teo of S'pore.

doc said...

Ilene,

i did & it prompted me to post this.

Yvonne Foong said...

Gold is a bad investment vehicle anyway. It's not liquidable and not in your hands.

ChunB said...

Geneva? I heard rumors about it. Be extra careful in whatever investment you made..

kc said...

i watched the genneva gold vids on youtube, parts 1 to 9 !! how very sad

Andrea Boult said...

I am a conservative investor which is ironic/unusual despite my long involvement in the stockmarket. Probably that explains why I, too, am neither rich nor poor.

However, for the record, my fastest decision in property investment was immediate. Having covered the property sector for years in my heyday as an investment analyst, I guessed I had developed what Malcolm Gladwell had described as a "blink moment". Unfortunately, investments that do trigger my blink moments tend to be few and far between bcoz they tend to be highly correlated to Black Swan events. Sigh! So yup! despite my knowledge, I remain .... yes, yes.. neither rich nor poor.

Funnily, I'd not heard of this or other goldbugs (before the raid).

doc said...

Yvonne,

george soros swears by it but people who buy physical gold, ie. in wafers & bars, generally have deep pockets & they can hold them for prolonged periods.

doc said...

Chun,

by now, most people will be avoiding Genneva like a plague, unless BNM comes up with a win-win solution.

doc said...

KC,

unfortunately, that's how life is - no certainty.

doc said...

Andrea,

so i learned 2 new terms from your comment. falling for a girl like a ton of bricks at the 1st meeting - does that constitute a blink moment? if so, it's the only one i can recall!

before my friend told me about genneva, i too am not aware of such schemes.

reana claire said...

Live within our means.. if we get more, it is a blessing from God.. sometimes my friends said, Look for more money.. and I asked them.. how much is more to you? Money is endless.. what is your limit.. and I guess we do not have an answer to that.. as long as we are contented an spend within our limits, it is all that counts..

doc said...

Claire,

most people can't or won't, so banks & moneylenders will always flourish.