I came across this article about Bill Benter, the pioneer in systematic gambling who made more than a billion dollars in horse-racing. I don’t really have many heroes in my journey towards trading success. However, Benter’s story was a major inspiration for me when his story was first reported in Hong Kong back in the 1990s. His approach to scientifically model horse-racing is no difference from my custom market breadth analysis – we are really looking at the data objectively to figure out what really matters.
I have been busy meeting people from early morning all the way to midnight almost everyday since the day I arrived in Hong Kong. They came from various backgrounds and our meetings are on very diverse subjects due to the fact that I have multiple businesses that somehow, of great interest to all these people. It is good that I get this chance to really summarize the experience here.
Immigration to Canada – hot topic and I was told that people of all social economic status are looking for ways to get out of Hong Kong. Going to Canada is an option but it may not be the best choice. As oppose to hard sell what one of my investment firms can do for the people looking to immigrate to Canada, I listened to them and gave them honest advice whether Canada is a good choice for them.
Here is a list of good reasons if you are thinking of immigrating to Canada:
- your children are young and you are looking for a place with good education system for their future
- you were educated in Western countries and like the experience
- you are thinking of retirement and that a decent healthcare system is your concern
If you are not interested in at least one of the factors above, just the damn cold weather alone can be bad enough to drive you away from Canada. After all, Canada is the country with polar bears.
Stable investment vehicles – this is a new emerging topic as playing in stock markets and real estate no longer generate significant returns for many HKers. The outlook of Hong Kong economic conditions in coming 5 to 10 years will likely be consolidation or even recession as global economic slowdown has already hit last quarter. So smart investors are now waking up to the situation and want to park their money in something stable with reasonable return. And we all know putting money in the banks does not produce any return nowadays.
Well, when looking for alternative investments, it is important to understand what you are getting into so that you do not have the wrong expectation from the product. For example, the high interest rate mortgage investment funds offered by one of my firms is not a term deposit. It is by-design a market driven investment product. It carries some market risk that is relatively much lower than those corporate bonds. The more willing you are in understanding the concepts, the more likely you will accept these investment options.
High return investments – this one is the most interesting topic for which I see a very dysfunctional investment mentality among majority of the Hong Kong population. First of all, way too many people have completely messed up beliefs about investing in general. Although normal people in western countries do share a significant amount of these problematic beliefs, the retail traders and investors in Hong Kong have taken this further by ranking luck as being something tangible … just don’t tell them they don’t know what they are doing.
I will prolong my stay in Hong Kong and probably travel to some other Asian countries to close a few more deals.
For my US readers, Happy Thanksgiving!
p.s. I am posting early this week because I do not have computer access in coming two days while on the road.