Date with Anfield this Saturday. Can't wait.Monday, January 28, 2008
Stockholm and Kiruna
Just got back from a trip to Stockholm and Kiruna but shall focus on Kiruna simply because it deserves my full attention in this entry!
all geared up for the day with 6 layers of clothes, 3 pairs of gloves, 2 scarfs, 2 socks and 2 layers of shoes!
our cosy hostel which was perfect except for the rude receptionist who seems to have a problem with Asians
at the ice hotel
ice hotel logo
ice bar - not opened for business yet when we were there though. even the glass you drink from are made of ice!
one of the 30+ designer suites in ice hotel
pitstop during the snowmobile trip to ice hotel
our lunch cooked by our very entertaining guide
our satisfying meal of raindeer, potatoes and lingoberry juice
amazing shot of the picturesque landscape of Kiruna
The perpetually snow-laden landscape, the indescribable insane temperature of -22°C, the untouched breathtaking beauty of many parts of Kiruna, the amazing hospitality of the people and the new experiences (snow mobile, dog sleigh, reindeer meat) makes for a totally wonderful trip that propels Kiruna to one of my favourite and must-go destination. If anyone of you is looking for a trip out of the ordinary, Kiruna is the place to go. And if you think you understand the word cold, try Kiruna in winter and you will better appreciate the word.
Pity we din't get to see the northern light despite waiting in the blistering cold for 1 hour, but this just gives me an excuse to return for another trip since there are still many activities left to be explored e.g. ice fishing, moose safari and staying in the ice hotel.
all geared up for the day with 6 layers of clothes, 3 pairs of gloves, 2 scarfs, 2 socks and 2 layers of shoes!
our cosy hostel which was perfect except for the rude receptionist who seems to have a problem with Asians
at the ice hotel
ice hotel logo 
ice bar - not opened for business yet when we were there though. even the glass you drink from are made of ice!
one of the 30+ designer suites in ice hotel
pitstop during the snowmobile trip to ice hotel
our lunch cooked by our very entertaining guide
our satisfying meal of raindeer, potatoes and lingoberry juiceamazing shot of the picturesque landscape of Kiruna
the dogs working tirelessly to pull 4 of us in the cold temperature
keeping ourselves warm halfway through the dog sleigh tour
one of the many snow sculptures at snow festival
leaving with a heavy heart, but i'll be back, DEFINITELY!
Sunday, January 20, 2008
Are you Singaporean Enough?
Went for a though-provoking talk yesterday on what it means to be Singaporean i.e.what is the Singapore identity. The talk given by the 4 invited guest was interesting, but what really caught my attention was the Q&A session. 2 old ladys, who married foreigners and settled down overseas, were "forced" by Singapore to give up their citizenship against their will. Now they feel like they are outcasted/2nd class citizens although they are Singaporean at heart and yearn to go back to Singapore.
I have never given this idea of citizenship much thought until yesterday, probably because it is something I take for granted. I did not undergo the "traumatic" experience of the old lady whose pink IC was taken away from her at the airport customs without questions and replace with a blue IC. But even that was taken away from her and now she is no longer considered a citizen of Singapore.
The takeaway i got from the talk was that the Singapore identity is very individualistic that is formed from personal upbringing and experiences. Being Singaporean means different things to different people, but it boils down to the emotional attachment that ties one to Singapore. For many foreigners who have studied and worked in Singapore for a period of time, some of them consider Singaporeans at heart i.e. they have been naturalised. But are they really Singaporeans or do we consider them Singaporeans? For me personally, I guess it boils down to how the individual feel and not what the individual has. It does not matter whether the individual holds a Singapore passport/IC or not? For him, it may just be a matter of but he does not feel Singaporean at heart. On the other hand, an individual may be very Singaporean at heart e.g. speak Singlish, like the food and way of life but may not own a Singaporean passport/IC. I would consider the latter a Singaporean.
Perhaps it's good to give this idea some serious thought. With globalization greatly increasing the mobility of humans, what impact (economic, political and social) does it have for a nation like Singapore whose only resources are its people? Is the idea of dual-citizenship feasible or will it dilute the Singapore identity? One can only wonder...
I have never given this idea of citizenship much thought until yesterday, probably because it is something I take for granted. I did not undergo the "traumatic" experience of the old lady whose pink IC was taken away from her at the airport customs without questions and replace with a blue IC. But even that was taken away from her and now she is no longer considered a citizen of Singapore.
The takeaway i got from the talk was that the Singapore identity is very individualistic that is formed from personal upbringing and experiences. Being Singaporean means different things to different people, but it boils down to the emotional attachment that ties one to Singapore. For many foreigners who have studied and worked in Singapore for a period of time, some of them consider Singaporeans at heart i.e. they have been naturalised. But are they really Singaporeans or do we consider them Singaporeans? For me personally, I guess it boils down to how the individual feel and not what the individual has. It does not matter whether the individual holds a Singapore passport/IC or not? For him, it may just be a matter of but he does not feel Singaporean at heart. On the other hand, an individual may be very Singaporean at heart e.g. speak Singlish, like the food and way of life but may not own a Singaporean passport/IC. I would consider the latter a Singaporean.
Perhaps it's good to give this idea some serious thought. With globalization greatly increasing the mobility of humans, what impact (economic, political and social) does it have for a nation like Singapore whose only resources are its people? Is the idea of dual-citizenship feasible or will it dilute the Singapore identity? One can only wonder...
Thursday, January 17, 2008
How the world works from my point of view
No concept has made me understand more about the world in recent memory than the concept of demand and supply. It took me some time, but once I begin to grasp the concept, it opened my mind to a whole new way of looking at things. You might not notice, but once you really start to think about it, many things in the world can be explained by demand and supply. Don't believe?
1) Why are some items so expensive and others so cheap? If you think about it, it is demand and supply. Take the extreme case. Air is free because it is supposedly unlimited. Salt is cheap because supply is plentiful. Ferraris are expensive because demand is high and supply is low. This could go on forever but you get the idea.
2) Demand for LSE degrees are high and supply of classrooms is low. As a result, 60+ people have to squeeze into a classroom for 40 people. And this is not the first time happening already. This is evident in other modules too. All these when we pay exhorbitant school fees, and the reason why LSE can do so is because demand for LSE degrees are high...
3) Doing my own investments in stocks made me appreciate the concept even more. Technically speaking, the price of a stock at a moment in time is the concensus price that all buyers are willing to pay (demand) and all sellers are willing to sell for (supply). What causes the demand/supply to change? Many reasons. I would like to say that I am a fundamentalist at heart, but ultimately, demand and supply has helped in my understanding and acceptance of technical analysis. I believe that what ultimately drives share prices in the long run is profits, but in the short run, there are many other factors to consider. Human nature dictates that we are self-maximising individuals i.e. we are greedy and want to make as much profits as possible. As companies report higher and higher earnings, investos flock to buy the stock to participate in the growth. This increase in demand pushes up prices. As prices increases, more investors flock in, triggering a vicious cycle known as a bubble. This scenario occurs when stock prices are no longer explained by fundamentals as seen in the tech bubble. Ultimately, prices drop and fear set in. Investors look to unload stocks, increasing supply dramatically. But with low demand for stocks due to fear, prices plunge and this continues and result in what we call a stock market crash. This is why stock markets goes in cycles.
4) The recent hoohah about the subprime mortgage crisis is also intrisically linked to demand and supply. As cheap money flooded the world, people demands rise as they can borrow more at cheap rates. Part of this supply of money is spent on housing, and as demand for them increases, the prices of houses increases. More construction took place to increase the supply to take advantage of the increase in demand. Similarly, as more people turned to property, the demand for mortgages increases. Mortgage standards are relaxed so that they can earn more $$, with the impression that the insatiable demand for housing will result in continued increased in house prices. Creative ways are then used aka financial innovation to securities these mortgage loans into CMBS that are rated highly by rating agencies before being sold off by banks to investors who are given the false impression that they are investing in safe instruments with high returns. As people feel richer, they invest their money in a 2nd property and the vicious cycle continues. All parties seem to benefit from this cycle of events. More people get to own a home that increase in prices, the mortgage lenders, rating agencies and banks make lots of commission and the investors earn high returns for taking on AAA CMBS. Sounds too good to be true? Indeed all these were brought to an abrupt end when people started defaulting on their loans which triggered another chain of events which I shall not go into detail here. Again, this is why economies goes in cycle too.
Even now, I can list many examples of the concept of demand and supply at work. One notable example is the automobile industry. With the increase in oil prices caused by skyrocketing demand and tight supply, the turn to alternative fuels as a solution suddenly gains much prominence. This increased demand by consumers lead companies to spend more money on R&D to develop new technology e.g. hybrids, ethanol, diesel to power our vehicles. I am sure that in a few years time, with sustained increase in oil prices, new technology economical for commercialization will surface and consumers will experience a drastic changes in the way we commute.
Ultimately, it all boils down to concept of demand and supply. But if you look deeper, it is also closely linked with human nature. In economics 101, we learn that humans have unlimited wants in a world of limited resources. We also learn that all individuals are self maximising i.e. greedy by nature. It is precisely these assumptions, coupled with the fact that humans adapt to changes in the environment that make the concept of demand and supply such a powerful force that can explain so many things happening around the world.
I hope that this has been an educational read. The concept of demand and supply has opened my eyes, I hope it will do the same for you too.
1) Why are some items so expensive and others so cheap? If you think about it, it is demand and supply. Take the extreme case. Air is free because it is supposedly unlimited. Salt is cheap because supply is plentiful. Ferraris are expensive because demand is high and supply is low. This could go on forever but you get the idea.
2) Demand for LSE degrees are high and supply of classrooms is low. As a result, 60+ people have to squeeze into a classroom for 40 people. And this is not the first time happening already. This is evident in other modules too. All these when we pay exhorbitant school fees, and the reason why LSE can do so is because demand for LSE degrees are high...
3) Doing my own investments in stocks made me appreciate the concept even more. Technically speaking, the price of a stock at a moment in time is the concensus price that all buyers are willing to pay (demand) and all sellers are willing to sell for (supply). What causes the demand/supply to change? Many reasons. I would like to say that I am a fundamentalist at heart, but ultimately, demand and supply has helped in my understanding and acceptance of technical analysis. I believe that what ultimately drives share prices in the long run is profits, but in the short run, there are many other factors to consider. Human nature dictates that we are self-maximising individuals i.e. we are greedy and want to make as much profits as possible. As companies report higher and higher earnings, investos flock to buy the stock to participate in the growth. This increase in demand pushes up prices. As prices increases, more investors flock in, triggering a vicious cycle known as a bubble. This scenario occurs when stock prices are no longer explained by fundamentals as seen in the tech bubble. Ultimately, prices drop and fear set in. Investors look to unload stocks, increasing supply dramatically. But with low demand for stocks due to fear, prices plunge and this continues and result in what we call a stock market crash. This is why stock markets goes in cycles.
4) The recent hoohah about the subprime mortgage crisis is also intrisically linked to demand and supply. As cheap money flooded the world, people demands rise as they can borrow more at cheap rates. Part of this supply of money is spent on housing, and as demand for them increases, the prices of houses increases. More construction took place to increase the supply to take advantage of the increase in demand. Similarly, as more people turned to property, the demand for mortgages increases. Mortgage standards are relaxed so that they can earn more $$, with the impression that the insatiable demand for housing will result in continued increased in house prices. Creative ways are then used aka financial innovation to securities these mortgage loans into CMBS that are rated highly by rating agencies before being sold off by banks to investors who are given the false impression that they are investing in safe instruments with high returns. As people feel richer, they invest their money in a 2nd property and the vicious cycle continues. All parties seem to benefit from this cycle of events. More people get to own a home that increase in prices, the mortgage lenders, rating agencies and banks make lots of commission and the investors earn high returns for taking on AAA CMBS. Sounds too good to be true? Indeed all these were brought to an abrupt end when people started defaulting on their loans which triggered another chain of events which I shall not go into detail here. Again, this is why economies goes in cycle too.
Even now, I can list many examples of the concept of demand and supply at work. One notable example is the automobile industry. With the increase in oil prices caused by skyrocketing demand and tight supply, the turn to alternative fuels as a solution suddenly gains much prominence. This increased demand by consumers lead companies to spend more money on R&D to develop new technology e.g. hybrids, ethanol, diesel to power our vehicles. I am sure that in a few years time, with sustained increase in oil prices, new technology economical for commercialization will surface and consumers will experience a drastic changes in the way we commute.
Ultimately, it all boils down to concept of demand and supply. But if you look deeper, it is also closely linked with human nature. In economics 101, we learn that humans have unlimited wants in a world of limited resources. We also learn that all individuals are self maximising i.e. greedy by nature. It is precisely these assumptions, coupled with the fact that humans adapt to changes in the environment that make the concept of demand and supply such a powerful force that can explain so many things happening around the world.
I hope that this has been an educational read. The concept of demand and supply has opened my eyes, I hope it will do the same for you too.
Tuesday, January 15, 2008
More bad luck!
I lost my phone today and hurt my back doing gym. How suay can I get?
And to think my horoscope in Facebook says "You'll enjoy an exceptional chance factor which will allow you to ease all crisis situations. Your material life will improve."
Hmmm, I wonder perhaps it's telling me that losing my phone is my low point and there's no way to go but up from here... Trying to think positive but it's not working. Now I have to go 1 less trip to save $$!
And to think my horoscope in Facebook says "You'll enjoy an exceptional chance factor which will allow you to ease all crisis situations. Your material life will improve."
Hmmm, I wonder perhaps it's telling me that losing my phone is my low point and there's no way to go but up from here... Trying to think positive but it's not working. Now I have to go 1 less trip to save $$!
Monday, January 14, 2008
Some things are just not meant to be...
I was just 3 people away from seeing Dr. Josef Ackermann (Deutsche Bank CEO) live, but instead, had to settle for hearing his lecture from another theatre through video.
Darn all those people who cut queue!
Darn all those people who cut queue!
Wednesday, January 9, 2008
10/01/05 - 10/01/08
Despite the ups and downs, we have made it to our 3 year anniversary!
(although we are 6,753 miles apart currently)
*Applause*
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