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The suiting thread


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Let me share something I learnt from a pilot. The pilot, I think he's Malaysian, said that pilots don't really fly planes. Planes almost fly themselves. 

The pilot's real job is to anticipate and mitigate potential problems. In others words, he's there to avoid accidents. He's always aware of which airport to turn to in case an emergency landing is necessary. 

It's also how I try to drive. Driving is trivial. It's too easy. Instead, I contemplate what could go wrong, and the best position to be in if it goes wrong. 

So, for instance, I am on the Karak highway twice daily. It is a dangerous stretch of road, famous for lethal accidents. When I drive on it, I am constantly trying to avoid being in the path of kamikaze drivers who spin hopelessly out of control. 

I am continuously stunned, dumbfounded by the recklessness of those on that highway.

As I approach certain bends, I check to see if there is a kamikaze coming along. If there is, I slow down so as not to be near him when he aquaplanes out of control. I also never go above 70 km/h when the road is wet. Some people drive the same speed whether it rains or it shines. A sunny day after it had just showered is super dangerous. The sun makes people feel comfortable driving fast. But the road is still wet. 

There is also the phenomenon of "brick walls". A slow moving lorry is the equivalent of a brick wall if you are moving at 100 km/h. You don't want to crash into the back of one. So even on highways, you have random brick walls (the equivalent thereof) interspersed. 

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Neurotypicals don't care what the EPF actually made in 2020. They only care that it owes them 5.2% more. 

But neurodivergents, like environmentalists and social justice advocates want to look at the bigger picture. Is the EPF sustainable and real? 

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You can't actually make something out of nothing. Ultimately, the cost of EPF's mismanagement will be socialised. That is, borne by all. 

You will really, truly, ultimately only multiply the value of your epf assets to the extent epf manages to create real returns. Which may even be below zero over the long term. 

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Indian style physical distancing

The caption of this AFP picture :

An aerial view shows Hindu devotees at the Sangam area, the confluence of rivers Ganges, Yamuna, and the mythical Saraswati, on the auspicious day of 'Maghi Purnima' during the annual traditional fair Magh Mela Festival in Allahabad on February 27, 2021. - AFP

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I listened to this video by Edward Snowden on the drive home just now. It struck me Snowden must be a neurodivergent.

Because regular IQ people do not care at all about the stuff Snowden is so passionate about. Regular iq people are intellectually myopic. They care only about things immediately relevant to themselves today, not about things which impact on broader humanity in the future. This is why UMNO wins election after election. 

The higher your IQ, the broader your vision, both spatially and temporally. 

So, just now, I googled "Edward Snowden IQ" just in case there is such information on him. Wikipedia says:

"Snowden scored above 145 on two separate IQ tests."

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Wow, 2 retards. I wonder what their IQs are like. Can't be high.

The lawyer who co-authored that article seem not to understand the tort of defamation. At least now you know not to use him. 

There is a vast difference between criticising say an MP and defaming him. 

Criticising (harsh) :

You, MP, have shown no results. What have you done with the allocation for your seat? You received RM25M last year, but the district of Bentong looks like a shanty town. Potholes everywhere, a landslide along the road that has not been repaired in 10 months. 5 murders, unresolved. You, MP, are a disgusting failure. 


You, MP, raped 2 children. 

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"Bonds are not the place to be these days. Fixed-income investors worldwide – whether pension funds, insurance companies, or retirees — face a bleak future."

-- Warren Buffet, 2021

He obviously has never heard of our great EPF. 75% in bonds but huge returns. Buffet should sit down with Shahril Ridza and Alizakri to learn a few things from these accomplished investors. Maybe even ask Zeti the genius how Malaysia did it. After all, she sat on EPF's board for many years. 

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As of yesterday, 1.93% of Singapore has been fully vaccinated. Fully vaccinated means having received both jabs. 

In Germany, which started its vaccination program in December last year, only 2.7% of the population of Bavaria has been fully vaccinated. It varies according to the states; the highest is Rheinland Pfalz with 3.4%.

The EU is in uproar over supply delays by the vaccine vendors. Paris has had to simply halt vaccination due to having run out of vaccine. 

This means this pandemic will only end deep into next year. 

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"The first shipment of the vaccine developed by United States pharmaceutical giant Pfizer and German firm BioNTech arrived in Singapore on Monday (Dec 21). This was after Prime Minister Lee Hsien Loong announced last week that the Health Sciences Authority (HSA) had approved the vaccine for use here."

Nearly 2.5 months and only 2% fully vaccinated in Singapore. 

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I was once asked if I would like to teach the German language at a university. After much deliberation, I declined. Mostly, because I was afraid my students wouldn't pass the exams.

The university then hired someone else. This someone else reached out to me, and so we met for lunch. I realised she doesn't really speak German. She was much worse than me at it.

I asked her: How do you make sure they actually pass the exam? Wouldn't it reflect badly on you if the failure rate is 80%?

She said: That never happens. You make the exam paper.

I thought all along the exam is administered by an external board.

Anyway, I just discovered who audits the EPF. Must be KPMG, I thought.

It turns out to be much worse. The EPF is audited by the Jabatan Audit Negara. Jabatan Audit Negara is also the auditor for Tabung Haji.

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I've always wondered how the EPF deals with their equities which have declined in value. Do they recognise them as a loss?

Before I get into their equities, lets look at how they value their "investment properties" (real estate).

"For the purpose of assessing impairment of investment properties which are carried at cost, the carrying amount are compared against the fair value of the investment properties to assess whether there is any indication of impairment. The measurement of the fair value for this purpose is arrived at by reference to market evidence of transaction prices for similar properties and is performed by independent valuers who hold a recognised and relevant professional qualification and recent experience in the locations and category of properties being valued."

This is very normal. To figure out how much they've made or lost on their real estate, they hire a valuer to arrive at the market value. The valuer arrives at that figure by looking at what similar properties changed hands for.

Now, look at how they value their equities.

"For equity instruments carried at FVOCI, costs of such instruments are assessed on a yearly basis for each individual equity security. When there is evidence of significant decline in fair value of listed equities, the unrealised loss residing in Financial Assets at FVOCI Reserve on such securities is recognised as realised loss through an actual transfer to Cumulative Surplus. The costs of these instruments will be correspondingly written down based on the equivalent amount of losses transferred from FVOCI Reserve to Cumulative Surplus."

They only write down their equities in the case of "significant decline". They do not say what the threshold for "significant decline" is. Is it 50%? 90%? They don't say.

But, really, why is there any need for management discretion in the write down for LISTED equities? They have a very clear market value. Don't even have to hire a valuer. Just look at the stock price.

This intentional loophole must have been abused to hell by their management.

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It turns out the British went about installing EPF-like pension schemes in the commonwealth. In India, it is even called EPF. In Singapore, it is called CPF. Over the decades, these pension schemes have evolved separately. It is so interesting to see what forms they take today.

In India, it is Ponzi.

In Singapore, it's simply a government savings scheme. Like a bank account that pays an interest. All the CPF does is buy bonds issued by the government which the government issued specifically for the CPF.

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Man, LKY is so intellectually honest. I can't believe this guy wins any elections. Neurotypicals (majority of the population) feel threatened by neurodivergents like LKY. They see people like LKY as aliens from another planet. As cold; impersonal.

Neurotypicals normally vote for people who will let them eat their seeds today and borrow as much as possible, and sugarcoat everything. It is a mystery to me how LKY wins any elections.

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