Today is a sad day for me. Something unexpected happened at work and it didn't feel good to talk about it. Anyway, life is so unpredictable. Look at the market today. Who is talking about last year's crisis anymore? Now, people are talking about the bullish property market, high COE car prices and booming stock market. If you still remember the Asian Financial crisis, SARS crisis or Dot.com crisis, they are nothing but bad memories now. Countries are keeping huge reserves but they are issuing even larger amount of debts and printing even more money to service these debts. After the busting of the Dot.Com bubble, we have another crisis in the supper bubble created by the booming US housing market within 10 years. Now what? We wait. It will be just a matter of time before another crisis hits. This is for sure.
Despite all these crisis, have we learnt anything? I doubt so. After every crisis, you have so many accounting standards to cover loopholes here and there. So what? As long as there is greed for more and fear of losing, this will be never ending. In gist, it is important for your survival to learn to expect the unexpected.
During good times, please prepare for the worst. And, during bad times, please get ready for good times to come. Some people call this contrarian view. To me, this is common sense.
No comments:
Post a Comment