Monday, February 16, 2015

Why I read blogs

My daily morning routine for the past few years had been quite constant. The first thing I do is usually to go to TheFinance.sg to read what other people are blogging about in an area of interest known as 'Personal finance' and 'Finance'. TheFinance.sg is actually a blog aggregator, which means that I just have to access one site to see a range of different sites that contributes to it, saving me a lot of time searching for similar themes and topics.


Do I read the newspaper? I did subscribe to it, though it wasn't my idea at all. I would have preferred not to subscribe. I think newspaper as a source of news is not at all a good idea. News comes in randomly, and the value of a news article decays rapidly with time. To be printed on a national newspaper, you have to get a reporter on the spot, churn out a report, verify the factual information, send it to the editor to approve and finally publish it physically as a newspaper before distributing for public consumption. By then, the short half life of news articles would have rendered it old news already. Which is why social media like facebook and especially twitter, is a better source of breaking news, though often unverified.


So what's the use of traditional printed material like newspaper and news magazine?




It's for their opinions and editorial pieces, where people analyse and give their viewpoints on how the news relate to us. These half digested news piece saves us the trouble of thinking through each and every news article, and probably generate new thought sources and reflection. These opinions of facts, necessarily means they are subjective, but that's the thing I like about them. They don't pretend to give general good advice for everyone. It's the same news but it's seen through the lens of someone with his own usual prejudices and baggage. 


Blogs often do give subjective viewpoints. We might all be talking about a particular news, but because we all are different, we'll focus on different parts of the news that are important to us. The sum of parts of many subjective interpretations makes it more objective than any individual subjective parts. If you read widely, especially from different camps, you'll end up having both sides of the argument, and then you can proceed to make your own judgement about the situation.


That is how we should treat all sources of information.


The other main reason of why I like to read blogs is because it's an immersion of this subculture that makes it harder for me NOT to succeed. This subculture of a financial warrior, striving hard to save more and earn more and invest more with the aim of being financially free is weird and when we talk about this subject matter to the everyday common people, we might be seen as... unsociable. Imagine telling someone that our food budget is reached, so is it possible to eat something cheaper today? It's an outright turnoff.


But having gone out with a couple of financial bloggers, we all know what we want. We'll totally understand if someone's budget is nearing a certain amount. We can totally sit down and talk about deep issues on investment and personal finance matters freely. This is just an extension of our online persona into real life. Nothing weird there. In fact, it feels like we're just bantering and commenting on each other's blog as usual, albeit using our body language instead of mere emoticons.


To be immersed in a conducive environment where it's normal to save more than 50% of your income and not drape yourself in fine clothes and fine watches is like a baby bird watching eagles fly. This is just everyday normal life, nothing extraordinary and nothing that we can't do ourselves. 


I can't tell you how enlightening and free this can set your mind. Everyone who wants to have a shot at financial freedom ought to be immersed in such an environment.

19 comments :

B said...

Hi LP

Some people indeed may view us either as an expert or weirdo in the making.

It is very easy and normal for us to indulge in money talk when we meet. It comes as natural to us.

la papillion said...

Hi B,

More likely a weirdo Haha! You're right, money talk is definitely not a taboo topic for financial bloggers. Just don't try it when talking to others. They will either switch off (most likely) or it will switch to a conversation mired with fears of the stock market or worse, a rant about the political party lol!

Needs to step over these mine field carefully ;)

Derek said...

Hi LP,

Thanks for the free publicity. I owe you one.

You have shared my exact same thoughts on why I decided to aggregate blogs instead of news reports. In fact, I have just published my "About" page today and I am now reading your post.

Your description of a conducive environment is very similar to my idea of creating a community vibe. You don't have to be rich or a high flyer, anyone has a chance of achieving Financial Freedom.

la papillion said...

Hi Derek,

Haha, I read! Wow, why does the hermit ninja Derek want to come out to the secular world? Suddenly you become much more visible after so many years lol!

We share a common goal. Let's work towards it :)

Createwealth8888 said...

Quote: "You don't have to be rich or a high flyer, anyone has a chance of achieving Financial Freedom."

Fully agreed!

Not rich nor high flyer; but just an average single household income with three children also can make it.

Read the blog post on 24 Apr 2011? Investing Made Simple by Uncle8888 (13)

la papillion said...

Hi bro8888,

You are an inspiration to others :) Not everyone can achieve what you did with a single income and 3 children :)

Ken said...

Weird breed? maybe , maybe not, we are human after all , albeit we like to help people with their goals ;)

la papillion said...

Hi ken,

Weird = not the norm; unique; different. That's not necessary bad, just different. I'm very aware that we are a very abnormal group of people who are more financially aware ;)

Ken said...

LP

Indeed so , i've been told that "we" when added together , financial age wise , will surpass 200yrs easily LOL !

la papillion said...

Hi ken,

What's financial age? Got such things one ah? What's up ur financial age? How does one know?

Ken said...

LP


Financial age is defined by the layman as level of financial intelligence lol... the scales for measuring this is ....agar agar or anyhow hantam or luan luan lai one , but for us definitely surpass our actual age by at least 5-7years :)

Cheers
Ken

la papillion said...

Hi Ken,

Ah...that's what you mean :) Thanks for enlightening :)

Ken said...

LP


Your blog is more enlightening ;)



Derek said...

LP, I have always been working behind the scene like the invisible hand. LOL.

Actually it is due to bloggers stepping out into the physical world that prompted me to do the same. The invisible hand just got bigger. ;)

temperament said...

"You don't have to be rich or a high flyer, anyone has a chance of achieving Financial Freedom."

Unquote:-

Remenber what Jack Neo's movie "Money Not Enough 2" says about what ITE stand for? - "It's The End"
Actually it is true for many ITE people but then not academic inclined does not mean one can not find his own suitable ways to learn to invest successfully. i am even slightly below ITE. With only a very basic O level E maths.
True grit or what is more important when you want to learn? i am sure i am still learning many , many things in life at my age.
Shalom.

la papillion said...

Hi temperament,

I think what Buffett said in this aspect is right - you don't need a very high intelligence to do investing. An average one should be more than sufficient. It's more about temperament than pure IQ.

I guess your nickname already suggests that you aspire to have that temperament to succeed!

I think the stock market is a great leveller. It doesn't mean that if you're smart you'll succeed. It's a mix of luck, hardwork, temperament, balls and just being in the right place at the right time.

secretinvestors said...

Hi LP,

I should learn from you and set up a daily routine for reading up financial blogs. Thanks so much for the ideas and inspiration!

la papillion said...

Hi secretinvestor,

Just make it a habit, like reading newspaper :) I seldom spend a day without reading something serious (Facebook post don't count!) lol

K said...

Hi,

Whats your view on Keppel Infrastructure Trust? Seems like a fairly secure trust (NeWater, Senoko and Tuas Power plant) with 7% returns.

Thanks.