Never Mind the Rest

"Believe there is a great power silently working all things for good, behave yourself and never mind the rest."

Beatrix Potter
1866-1943,
Author and Illustrator

Which Bond to Buy?

With the current uncertainties in the market, it is difficult to predict which way she will go over the next one to three months. If you think about the tough decisions regarding equities, the proponents in the opposite camps (the fixed income groups) are not having any easier space. Just look at the universe of bond funds and you will realize that getting into bonds is not as easy as getting a Char Siew Pao at your local 7-11 friendly store.

(Oh yes, by the way, if 7-11 store claims that they never closed, then why are there locks on their doors? I am still puzzled till this day? Any one knows?)

Question is: Are we done with the correction yet?

Answer: Wrong question!!!

A better question is "Are we done with the misplaced confidence in the bull market yet"?

This market is due for a crude awakening. When that realization dawn upon investors, the flight to safety will commence and then the market will start to have another set of concerns: Where to re-allocate?

Bonds have not fare well over the last 4 years (compared to equities). Will they perform now? If so, which one? Global or regional? High yield or high grade? Which fund houses? What about my local governement debt securities?

Looking at the above chart, you will find that some bonds are valued higher than others, but with much lower volatility. Now, volatility is not a bad thing. You need to manage it. Others offer value now but inherently have higher volatilities. The key is balance. If you are already in a balanced portfolio, then balance your balanced portfolio. There is much allocation to be done even within the bond segment. So take a look again at your bond holdings. It pays.

Good luck.

The Risk of Love

The Risk of Love
(by Kris Hydmore)

There is a risk involved in everything
Every time you share a smile
Every time you shed a tear
You are opening yourself up to hurt.
Some people tread slowly through life,
Avoiding the closeness risk brings,
Side-stepping the things they can't understand
Turning away from those who care too much,
Those who care stay too long,
Those who hold too tightly.
There is never an easy way to love
You cannot approach it cautiously
It will not wait for you to arm yourself.
It does not care if you turn away
It is everywhere, it is everything.
Love is the greatest of all risks.
It is not reliable, it is not cautious,
It is not sympathetic
It is unprejudiced and unmerciliess.
It strikes the strongest of mind,
And brings them to their knees in one blow.
Even in the best of times, love hurts.
It hurts to need, it hurts to belong,
It hurts to be the other part of someone else,
Without either of your consent.
But, from the moment it overtakes you,
It hurts worse to be all alone.
The risk of love never depletes;
It grows stronger and more dangerous with time.
But, it's in the total surrender of all defense,
That we, no matter weak or strong,
No matter willing or captive,
No matter what, we truly experience love.
Despite the many things love is not,
Outweighing it all are the things that love is.
Love is surrender without a loss.
It is a gift without the cost.
It consumes your every thought & desire,
Every breath you take.
It is the fire that fuels you
To do more than pass through life;
It urges you, instead, to live.
No matter the outcome, having felt love,
You will never be the same.
It may scar your heart & soul
And Leave you only memories of forever.
Or, it may cause every day of your life
To feel like there is no need for tomorrow.
But, love is worth it.
It is worth the risk...
For in all of life,
Love is truly the only risk worth taking.

Love is like Bread.

Love doesn't just sit there, like a stone;
it had to be made, like bread, remade all the time, made new.

Ursula Le Guin

Love is the Key

Love is the master key that opens the gates of happiness.

Oliver Wendell Holmes

Happiness or Unhappiness?

"I am more and more convinced that our happiness or our unhappiness depends far more on the way we meet the events of life than on the nature of those events themselves."

Karl Wilhelm Von Humboldt
1767-1835,
German Statesman

Walk Your Talk

"When you walk your talk, people listen."

A German proverb