Personal
To see a friend get Rich
By Singapore Man of Leisure  •  December 8, 2014
“There is nothing so disturbing to one’s well-being and judgment as to see a friend get rich” Economic historian Charles P. Kindleberger (1910-2003) wrote in Manias, Panics and Crashes: A History of Financial Crises (1978 and subsequent editions): Don't pretend! Very true right? That's why you see people who many years have swore property investing is not their cup of tea "capitulates" just in time to get themselves an investment property right at the top of the property cycle... It's hard to stick with your convictions when all you see are colleagues and relatives who have made hundreds of thousands in just a few years. Same for those who wished they had left their money in CPF or fixed deposit accounts and not invested in REITs or other income stocks. The 8% yield on income stocks may look a lot sexier than 2.5%, but if you are nursing a 20% plus capital loss... All of sudden, purchasing power erosion by inflation is a lot less scarier than "your own worst enemy". External financial missteps are painful, but they don't destroy the soul. The more insidious ones are those of envy and jealousy. We don't need to look far. We just have to look at the person in the mirror.

Singapore Man of Leisure (welcome to my blog; just google it!)
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By Singapore Man of Leisure
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