- Invest in GREAT business.
- Focus on NOT losing money.
- Develop your OWN investment philosophy and PERSONAL system for all investment purpose.
- Only invest in what you FULLY understand.
- Refuses to invest in anything that do not meet your criteria – DARE TO SAY NO!
- Patience to wait INDEFINITELY for the RIGHT investment to appear.
- Act IMMEDIATELY when a decision has been made.
- Adhere to your own investment system RELIGIOUSLY.
- Sees mistakes as LEARNING experiences.
- DO NOT over diversity.
Friday, September 20, 2013
10 Investment Wisdoms
Tuesday, July 30, 2013
Failed on mock TP practical test 5 days before the actual TP test
Sunday’s training session (28.07) I was allocated to a new instructor
who is not from my allocated group. He pointed out a lot of my mistakes which were not highlighted
by my group instructors before. He also conducted a mock test for me and I scored 48 demerit
points from the mock test.
Below are detail analysis of my mock test results:
Circuit – total 24 demerit points
Incorrect position (before move up
on ramp) – 2 points
Incorrect technique (hard braking) –
4 points
Fail to adjust mirror before driving
(vertical parking) – 2 points
Unnecessary stopping – 2 points
Cause other vehicles to slow down or
take evasive action – 8 point
Incorrect Position – 2 points
Fail to check mirror before slowing down – 2 points
Incorrect braking technique (hard/late/sudden) – 2 points
On-the-road – total 24 demerit points
Change lane within yellow box (after
U-turn at CCK Rd) – 6 points
Not enough side clearance given to
other road users (motorcyclist) – 8 points
Change lane abruptly – 4 points
Failed to check blind spot/mirror – 4 points
Improper turning (wide/sharp) – 2 points
Wednesday, July 10, 2013
FW: tips of buying used car in Singapore
Long before hand, ask the seller about the odometer/mileage of the car. Give
about 15,000kms per year and multiply by the age of the car. Anything more, and
you'd have to be weary. But remember that odometers can be tweaked (for some
electronic odos, they can be switched 'off'. this mode is used to drive the car
before delivery or in between ship to wharf to showroom), and the easiest way
would be just to replace the cluster with another car's.
Be careful of cars near the 100,000km mark, the water pump and timing belts might be due for a replacement and chances are the seller wouldn't be bothered.
Check the car when its clean, and during the day. Never view a car at night, if possible choose a sunny day where the paintwork will really show. If possible also, view the car in the day, or make sure the engine is cold before going.. Cold starts can tell alot.
When you first approach the car, stand back a distance and look at the car as a whole. Run eyes along the lines of the car. Does it look right? Is the front sagging, or the rear too high? Look at the wheels in the arch. Is there equal space between the wheel and both sides of the arch? If the wheel is closer to one side, could mean the car has hit a curb before and bent the lower control arm.
- Ask the seller for the reason he's selling it, then ask yourself if the reason makes sense.
- Ask about the service history of the car, when was the last service, and how often he does it. What are the things changed n stuff. Make a mental note of that and we'll get to it later.
- Ask if the car has been in any major accidents before. most of the time they'll say no, but don't take his word for it.
Check the paintwork of the car. Is the paint new? If it is, ask for the reason for respray. Check if the tone is constant throughout the car. Look at edges such as the bottom of the A-pillar, the part where the bumper meets the body, etc, and check for overspray or masking hints.
Ask the seller to pop the bonnet. Its kinda a courtesy to let the owner do everything, unless he/she doesn't know what to do. The engine bay would probably be quite dusty, or very clean. If its clean, ask yourself why. Is it to cover something up? or it could just be the owner likes a clean bay.
Pull out the engine dipstick and look at the oil. Does it match the seller's story of service interval? The oil should be dark brown. Don't be afraid to touch it, the oil should feel smooth and smell burnt/sweet. If the oil is black and sticky, walk away. Open the oil cap and look under it. Check if the threads are black and sticky. Look out for milky stains under the cap, these are signs of a leaky headgasket as the milky-ness results from oil mixing with water. Look at the colour of the brake, clutch (manual), ATF (auto) and powersteering fluids. If any of these is dark black in colour, walk away.
Look at the side fenders, are those factory bolts or new? Some bolts have factory paste/glue/markings on them. If they have been removed, ask yourself why. Look at the car's frame behind the bumper, Is there any rust? (signs of repair job), dents, sprays, fixes. Look in the boot, lift up the spare wheel cover and look inside, are there any dents, rust, water collection inside? Usually most accidents are hard to detect, so it would be best to take it to a mechanic.
At the rear, get down on the floor and look under the bumper. Behind the bumper is a metal plate which is the car's chassis. If there has been a major rear accident, this plate would be dented. Most of the time this is not repaired, since the bumper covers up everything. Run your eyes on ALL lines and seams where boot/door/bonnet meets body. Panel alignment is very difficult, and if something eg, the bootlid has been taken out before, chances are it would not be in perfect alignment anymore. Note also if the boot can close easily, and if the latches are in the center.
Start the car with the bonnet up and when the engine is cold. Listen for rattling noises or clicking sounds. The worst cycle an engine goes through is not during high rev, but the first few seconds just after startup. That's when the bearings are directly contacting the metal and when the most wear occurs, so any major wear will show now.
Does the engine start, then cough? The revs of the car during cold start is higher than normal, probably around 1.5krpms. Look at the exhaust, is there any white/blue/black smoke coming out? Note: Condensation is ok. (there's a difference, condensation is thinner, while oil smoke is thicker). Put your hand at the exhaust stream, it'll be warm. Is your hand wet after? If it is, that's a sign of good combustion. If the smoke stings your eyes or smells dry, there's a problem with the mixture.
Its now time to test drive. There are 2 parts to the test drive, the seller, and the car. Let the seller drive the car first, because this part is more about the seller (you'll get time with the car later). The engine is now barely warmed up, so watch how the seller drives. Does he just floor it without considering that? If its a manual, does he change gear smoothly or does the car jerk everytime he changes it? Does he throw the clutch to engine brake all the time? All these point to bad driving habits, and will mean a more worn out car.
Now its your turn. Sit in the car and adjust everything to make yourself comfy. Clutch in and slot into 1st, does the gear go in smoothly? Switch off the radio! Leave the windows up or down, depending. Windows up would let u listen to interior sounds, while window down, would let u listen to the exterior of the car. Listen out for squeeks, creaks groans or other abnormal sounds, especially when you turn a corner or brake. (brake squeal may be alright if the brakes are still cold or if its on aftermarket pads).
- Shift through the gears, is there any difficulty? Do the shifts feel sloppy? These might point to worn out synchros (= rebuild gearbox).
- Travel at a variety of speeds up to 90km/h and above if possible. Does the steering wobble? Are there any alignment issues or strange sounds?
- In 4th gear, floor the car. If the revs climb but speed remains the same, the clutch is slipping. Notice any burning smell also.
- Next, in 1st gear. step on the brake and let the revs drop to about 500. Does the car choke and want to die? These are signs of loss of compression.
- Drive the car in reverse. Does reverse engage easily?
- For automatics, does it shift smoothly? Any hesistations, or strong jerks when it shifts?
- Are there any vibrations on a smooth road? Any weird engine sounds?
- Is the engine responsive, or is there a lag between input to response?
- Test out the brakes also, is the pedal spongy? Does it feel like it won't stop? While the car is moving at speed, leave the car in neutral. Rest your hand gently on the steering and brake reasonably moderately. The car should brake in a straight line and not pull towards one side.
- Cross humps, does the car continue to bounce up and down after passing the hump? This is a sign of worn out shock absorbers.
Probably this is all too much to remember.. but the main thing is to be alert and lookout for anything unusual. (or if its your first car, be sure to take someone with you). you culd print this out also and take it along.
Never take the seller's word for anything he says, check with your own eyes.
There are plenty of lemon cars out there, so you have to becareful. Buying is easy, but trying to get rid of it is difficult.
The most important thing for a car is that its chassis is straight. Followed by the engine and gearbox. The latter 2 are the most important and very difficult/expensive to replace (chassis is not replaceable unless you swap identities, which is illegal). The rest are pretty easy and cheaper fixes, so make sure you factor all these into the cost price and use it as a bargaining chip.
Be careful of cars near the 100,000km mark, the water pump and timing belts might be due for a replacement and chances are the seller wouldn't be bothered.
Check the car when its clean, and during the day. Never view a car at night, if possible choose a sunny day where the paintwork will really show. If possible also, view the car in the day, or make sure the engine is cold before going.. Cold starts can tell alot.
When you first approach the car, stand back a distance and look at the car as a whole. Run eyes along the lines of the car. Does it look right? Is the front sagging, or the rear too high? Look at the wheels in the arch. Is there equal space between the wheel and both sides of the arch? If the wheel is closer to one side, could mean the car has hit a curb before and bent the lower control arm.
- Ask the seller for the reason he's selling it, then ask yourself if the reason makes sense.
- Ask about the service history of the car, when was the last service, and how often he does it. What are the things changed n stuff. Make a mental note of that and we'll get to it later.
- Ask if the car has been in any major accidents before. most of the time they'll say no, but don't take his word for it.
Check the paintwork of the car. Is the paint new? If it is, ask for the reason for respray. Check if the tone is constant throughout the car. Look at edges such as the bottom of the A-pillar, the part where the bumper meets the body, etc, and check for overspray or masking hints.
Ask the seller to pop the bonnet. Its kinda a courtesy to let the owner do everything, unless he/she doesn't know what to do. The engine bay would probably be quite dusty, or very clean. If its clean, ask yourself why. Is it to cover something up? or it could just be the owner likes a clean bay.
Pull out the engine dipstick and look at the oil. Does it match the seller's story of service interval? The oil should be dark brown. Don't be afraid to touch it, the oil should feel smooth and smell burnt/sweet. If the oil is black and sticky, walk away. Open the oil cap and look under it. Check if the threads are black and sticky. Look out for milky stains under the cap, these are signs of a leaky headgasket as the milky-ness results from oil mixing with water. Look at the colour of the brake, clutch (manual), ATF (auto) and powersteering fluids. If any of these is dark black in colour, walk away.
Look at the side fenders, are those factory bolts or new? Some bolts have factory paste/glue/markings on them. If they have been removed, ask yourself why. Look at the car's frame behind the bumper, Is there any rust? (signs of repair job), dents, sprays, fixes. Look in the boot, lift up the spare wheel cover and look inside, are there any dents, rust, water collection inside? Usually most accidents are hard to detect, so it would be best to take it to a mechanic.
At the rear, get down on the floor and look under the bumper. Behind the bumper is a metal plate which is the car's chassis. If there has been a major rear accident, this plate would be dented. Most of the time this is not repaired, since the bumper covers up everything. Run your eyes on ALL lines and seams where boot/door/bonnet meets body. Panel alignment is very difficult, and if something eg, the bootlid has been taken out before, chances are it would not be in perfect alignment anymore. Note also if the boot can close easily, and if the latches are in the center.
Start the car with the bonnet up and when the engine is cold. Listen for rattling noises or clicking sounds. The worst cycle an engine goes through is not during high rev, but the first few seconds just after startup. That's when the bearings are directly contacting the metal and when the most wear occurs, so any major wear will show now.
Does the engine start, then cough? The revs of the car during cold start is higher than normal, probably around 1.5krpms. Look at the exhaust, is there any white/blue/black smoke coming out? Note: Condensation is ok. (there's a difference, condensation is thinner, while oil smoke is thicker). Put your hand at the exhaust stream, it'll be warm. Is your hand wet after? If it is, that's a sign of good combustion. If the smoke stings your eyes or smells dry, there's a problem with the mixture.
Its now time to test drive. There are 2 parts to the test drive, the seller, and the car. Let the seller drive the car first, because this part is more about the seller (you'll get time with the car later). The engine is now barely warmed up, so watch how the seller drives. Does he just floor it without considering that? If its a manual, does he change gear smoothly or does the car jerk everytime he changes it? Does he throw the clutch to engine brake all the time? All these point to bad driving habits, and will mean a more worn out car.
Now its your turn. Sit in the car and adjust everything to make yourself comfy. Clutch in and slot into 1st, does the gear go in smoothly? Switch off the radio! Leave the windows up or down, depending. Windows up would let u listen to interior sounds, while window down, would let u listen to the exterior of the car. Listen out for squeeks, creaks groans or other abnormal sounds, especially when you turn a corner or brake. (brake squeal may be alright if the brakes are still cold or if its on aftermarket pads).
- Shift through the gears, is there any difficulty? Do the shifts feel sloppy? These might point to worn out synchros (= rebuild gearbox).
- Travel at a variety of speeds up to 90km/h and above if possible. Does the steering wobble? Are there any alignment issues or strange sounds?
- In 4th gear, floor the car. If the revs climb but speed remains the same, the clutch is slipping. Notice any burning smell also.
- Next, in 1st gear. step on the brake and let the revs drop to about 500. Does the car choke and want to die? These are signs of loss of compression.
- Drive the car in reverse. Does reverse engage easily?
- For automatics, does it shift smoothly? Any hesistations, or strong jerks when it shifts?
- Are there any vibrations on a smooth road? Any weird engine sounds?
- Is the engine responsive, or is there a lag between input to response?
- Test out the brakes also, is the pedal spongy? Does it feel like it won't stop? While the car is moving at speed, leave the car in neutral. Rest your hand gently on the steering and brake reasonably moderately. The car should brake in a straight line and not pull towards one side.
- Cross humps, does the car continue to bounce up and down after passing the hump? This is a sign of worn out shock absorbers.
Probably this is all too much to remember.. but the main thing is to be alert and lookout for anything unusual. (or if its your first car, be sure to take someone with you). you culd print this out also and take it along.
Never take the seller's word for anything he says, check with your own eyes.
There are plenty of lemon cars out there, so you have to becareful. Buying is easy, but trying to get rid of it is difficult.
The most important thing for a car is that its chassis is straight. Followed by the engine and gearbox. The latter 2 are the most important and very difficult/expensive to replace (chassis is not replaceable unless you swap identities, which is illegal). The rest are pretty easy and cheaper fixes, so make sure you factor all these into the cost price and use it as a bargaining chip.
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