Read? Cut Losses Where Successful Investors Don't See Eye To Eye To Successful Traders
Real People. Real Story!
Upon a time; there were two men from time to time when they have the opportunity they would poke each other over trading and investing.
One man was the late known "Guru" who has avoided to answer even simple question of Yes or No by stating the fact that even audited companies could hide frauds and not detected. In another word; even audited statements cannot be trusted. "Guru" has been advocating faith and trust and you need to believe!
Trust since you can't really Verify! You can't!
The other man is still currently trading for a living.
One day; late "Guru" poked back with a good response.
Positioning Size and Risk Comfort Level
Guru : When I have full conviction over one company; I dare to build up positions up ......
When I used to own a few private limited companies. For annual submissions, I would source for commercial accountants who are willing to comply with my instructions as I am the payer. Those who are too ‘straight’ are dumped. Usually, they conformed as they want the business.
Until not too long ago, it was the same for valuations of properties. So long as one is paying for the services of the valuer, and the request of the value is not too far from the range, these valuers will give in. Otherwise go to the valuer who is willing to accede to your request. That’s why HDB flats valuations will have to go through HDB, who then assigns the valuer. Even the valuation quantum has to be ‘approved’ by HDB. Private property valuations can still be the dictates of the payer.
So long as it is ‘he who pays the piper, calls the song’ system, auditors, being paid by the companies being audited, are in a difficult positions. Look at Hougang TC accounts! Being too professional? My foot, they need the business first. Professionalism is for cosmeticism.