Saturday, December 31, 2011
Thursday, November 3, 2011
Airplanes have two types of power: 28 volts, direct current; and 115 volts; alternating current, 400 Hz. The coffee pot had to be designed to run on the 400 Hz power, which made it completely different from your kitchen version. 400 Hz is used because it makes motors and things smaller and lighter than 60 Hz versions. The lifetime cost of every pound of airplane weight is enormous, given that fuel must be provided to carry it everywhere for 40 years or so. So this is a sensible economic decision. The next thing to remember is that the C5 (airplane in question) total production run is only about 120 units, so development costs have little in the denominator. Finally everything on an airplane must be tested to be sure it will work under military conditions and wont start a fire or something. These tests usually include MIL STD 810 Environmental Testing. This includes shock, vibration, high/low temp, and so on.
Tuesday, October 4, 2011
Thursday, September 22, 2011
Someone awesome has decided to give me an Amazon Kindle as a gift and it is an amazing machine if you as much of a nerd as I am. If I'm not reading one of my medical textbooks, I'm reading a novel or Time magazine, or the news or a book about investing and finance.
Owning an Amazon Kindle means I no longer need my physical books so, take a look at my library, shoot me an email or comment and we can come up with a price (which probably will be dirt cheap). I'll give it a few weeks before I put them up on ebay. My readers get priority over random people on ebay of course :)
Enjoy your evening.
Sunday, September 18, 2011
Wednesday, September 7, 2011
I was doing some work today and decided that I needed a break, so where else but to go onto YouTube and waste some time. I watched a couple of Warren Buffet’s interviews (yeah I’m that much of a nerd, using study break time to watch interviews). He said one of his friends from Omaha said that when hiring people, he looks for 3 things: integrity, intelligence and energy. He said that if a person does not have the first two, the latter two would kill them because if they don’t have integrity, you want them to be dumb and lazy instead of smart and energetic. Being intelligent and having energy is not enough, integrity plays an important role in keeping you on the straight line.
He was talking to some Harvard MBA students, I think, and as the talk went on, he asked the students to look around the room at their colleagues. Identify one person that you would buy a 10% stake in their lives. If we had a choice of buying 10% of our colleague’s life for the rest of their life who will it be? Once you’ve identified that, write out their attributes that made you come to your decision. A lot of the time, it will not be because they are smart, or because they are a top scorer, it would most likely be because you can relate to them. Or you trust that they have what it takes to succeed. Make a list and strive to gain those attributes.
He said, Benjamin Graham did the same time back in the days. He identified people that he admired and that he wanted to be admired as well. So he identified what qualities made them admirable. What he found surprising was that those attributes are quite easily achieved.
Once you’re identified qualities that you like to have, make them a habit because in time, you’re realise that you’ll be the one who you want to own 10% in and the beauty of it is that you already own 100% of yourself.
After you’ve done that, identify somebody you would short sell 10% of their lives. Identify their attributes that made you come to that conclusion and avoid having those attributes.
Warren Buffet spent hours of his day learning how to invest and thoroughly analysing companies. His dedication and desire I’ll say is what 95% of the population do not have. Most people, like myself, would rather use our time on Facebook or YouTube.
So yeah, long story short, have integrity, be smart and energetic and strive to have good qualities so that you would love to invest in yourself.
Tuesday, August 16, 2011
Sunday, August 7, 2011
I thought since I havent posted for a while I should share my facebook pictures of New Zealand!
Heres the link
Hope you enjoy them as much as I enjoyed taking them!
Tuesday, August 2, 2011
Friday, July 29, 2011
A big problem in life is when you are not able to enjoy your citizenship.
It is not good for a person.
Says one of the refugees in Kenya on another episode of Go Back to Where You Came From.
His daughter wants to be a teacher, another an engineer and his son, a doctor.
I have the opportunity to study medicine. I am lucky enough that my parents are able to loan me some money to invest with. These people survive, every day that they stay alive is a victory.
So why the heck are we complaining?
We’ve got opportunities all around us. It is up to us to sit on our asses or to grab them as they come.
Tuesday, July 26, 2011
Thursday, July 21, 2011
Tuesday, July 19, 2011
I had just started a rotation in geriatrics yesterday and it has been rather interesting. Much like paediatrics, the patients you interact with sometimes do no understand what you are talking about, they might be disorientated, delirious, they might not be able to speak or understand what you are saying. So like in paediatrics, you often have to rely on partners or family.
I was sitting in a discharge meeting today. What happens is that the family and health professionals sit in a room and discuss what happens next to the patient upon discharge. On one side of the table, was the consultant, social worker, occupational therapist, 2 nurses and myself. On the other side, was the patient, her 2 daughters, a son in law, husband, interpreter and 2 representatives of the community carers. It reminded me of a board room meeting or a deposition or something. I didnt realised that a situation like that happened in medicine.
They were discussing what the next step for the patient should be. If she should go to a nursing home or if going home was possible. When you put family members in the same room, you can come to expect some sorta conflict and conflict was what we got. To cut a long story short, they finally made a decision and it was a fair compromise.
What struck me at first was that they needed a whole room of people to decide if she should go home. I came from Malaysia and you don’t have the privilege there, if you cannot afford healthcare privately, thats it. You have no opportunity to choose between home care of nursing home in the public system.
Next was that they were deciding on something as simple as going home. Being young and fairly healthy, I cannot imagine they day when people have to decided if I get to go back to my own home or not. The thought of it is fairly scary, such a basic human right in the hands of your family members and a bunch of health professionals. A bulk of their problem was the insecurity the family felt in the whole situation. On top of that, the poor husband, if the patient’s children cannot spare some time to care for their mum, there will be a huge burden on the poor man.
I guess thats part of my motivation to succeed financially in life. When I am old, and family cannot look after me, at least I can afford to pay for home care or private nurses. Security, afterall is what we all are after.
Sunday, July 17, 2011
Oxford definition: Reasonable steps taken by a person to avoid committing a tort or offenceA comprehensive appraisal of a business undertaken by a prospective buyer, especially its assets and liabilities and evaluate its commercial potential.
Unintelligent Investor’s explanation
I haven’t used a made-up-on-the-spot analogy for some time so here is one lol. When you buy an apple, your due diligence will be you looking at its skin and pressing on it to see if it might still be fresh. Or you want to buy a bunch of grapes it might be a good idea to pick one and try it to see if it is sweet lol.
When you perform due diligence on an investment, lets say a share, you look at its financial statements, the recommendations, the board of directors, look at the market depth, volume traded, last price, price of the share in the last x years, etc.
We investigate or do an audit of our potential investment. It is a very important step essential in almost any purchase of assets. It refers to a reasonable care we should take before entering an agreement. What is “reasonable” might be different to different people tho.
I am no accountant so analysing financial statements is not one of my best skills but I approach must companies with scepticism. I think being sceptical is an important part of due diligence. Some information we get from companies are skewed. So it is up to us to be sceptical and try and tease out what is actually going on.
What steps are involved in your due diligence?
Drop me a comment or send me an email. Discussions are always welcomed :)
Friday, July 15, 2011
Wednesday, July 13, 2011
Sunday, July 10, 2011
Once again, I need to take a rain check.
As some of you know, I've been away at 2 different conventions this past week and a half.
Well yesterday was the last day, so I had to pack up all my stuff, drive back to Newcastle from Sydney and get ready for hospital tomorrow. Sorry!
Back to normal on Tuesday!