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Preparing for the recession

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  • Preparing for the recession

    Suggestions:

    1. Don't take any loans; buy homes, properties with loans, or even cash. Keep as much cash as possible.

    2. Pay off as much of personal loans, private loans, as debt collection will be hastened.

    3. Sell any stocks you can even at lower prices.

    4. Take money off from Trust Funds.

    5. Don't believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities.

    6. Don't invest in new capital.

    7. If you are selling homes/ properties/ cars, do it now, when you can get good prices, they are going to fall.

    8. Don't invest in new business proposals.

    9. Cancel holiday plans using credit cards.

    10. Don't change jobs, as companies will retrench based on 'last in first out'.

    11. If you are a one-pack per day smoker, and a watch collector,don't smoke for two years.
    You will have better health, may eventually quite smoking altogether, and buy
    a new submariner every two years ($10per day, $3,650 per year, $7,300
    every two years).
    Last edited by R-oyster; 24-11-08, 09:42 AM. Reason: error

  • #2
    Originally posted by R-oyster View Post
    Suggestions:

    1. Don't take any loans; buy homes, properties with loans, or even cash. Keep as much cash as possible.

    2. Pay off as much of personal loans, private loans, as debt collection will be hastened.

    3. Sell any stocks you can even at lower prices.

    4. Take money off from Trust Funds.

    5. Don't believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities.

    6. Don't invest in new capital.

    7. If you are selling homes/ properties/ cars, do it now, when you can get good prices, they are going to fall.

    8. Don't invest in new business proposals.

    9. Cancel holiday plans using credit cards.

    10. Don't change jobs, as companies will retrench based on 'last in first out'.

    11. If you are a one-pack per day smoker, and a watch collector,don't smoke for two years.
    You will have better health, may eventually quite smoking altogether, and buy
    a new submariner every two years ($10per day, $3,650 per year, $7,300
    every two years).
    very true.....must be prudent from now on...
    I can resist anything but temptation. - Oscar Wilde

    Current collection
    A.Lange & Sohne Grand Langematik
    Audemars Piguet ROO
    Blancpain Fifty Fathoms (Dark Knight)
    De Bethune Titan Hawk (DB27)
    Habring2 Pilot Time Date
    Harry Winston Midnight Big Date
    Hublot Aerobang Skeleton
    IWC Portuguese Perpetual Calendar
    Panerai 270
    Patek Philippe 5711/1a
    Rolex 116610LV
    Vacheron Constantin Overseas

    Comment


    • #3
      Love the last point... maybe we can consider:
      i) $15 per day, a GMT II in two years....
      ii) $20 per day... a SDDS in two years...

      Comment


      • #4
        As from situation outside now..its better be keep cash den spending unnecessary now..heard from my friends some of the companies already preparing to shut down for a period..will getting worse starting from next year..

        Comment


        • #5
          for me now i got to sell watches to upkeep my smoking habit..lol..juz kidding....lighten up guys....
          Courage is what it takes to stand up and speak

          Courage is also what it takes to sit down and listen

          Quoted from Sir Winston Churchill

          Comment


          • #6
            I say if time come to spend spend it. if everybody not spending the end of the world. Go holiday with family if you want to.
            Rolex stainless steel daytona (black dial)
            Rolex LV submariner
            Rolex TT black submariner
            Rolex GMT2 Pepsi
            Rolex Non date submariner
            Rolex Explorer2
            More...

            Comment


            • #7
              hmm....for now is the wait and see period....everything seem to be diving down in value....can pick up some nice pieces at nice prices....
              Courage is what it takes to stand up and speak

              Courage is also what it takes to sit down and listen

              Quoted from Sir Winston Churchill

              Comment


              • #8
                For me I will buy stocks next year. Make money in stock market then buy watches.
                Rolex stainless steel daytona (black dial)
                Rolex LV submariner
                Rolex TT black submariner
                Rolex GMT2 Pepsi
                Rolex Non date submariner
                Rolex Explorer2
                More...

                Comment


                • #9
                  hahaha..me is a stock noob...dun have the technical know how.....juz have to rely on picking up some nice properties if possible....
                  Courage is what it takes to stand up and speak

                  Courage is also what it takes to sit down and listen

                  Quoted from Sir Winston Churchill

                  Comment


                  • #10
                    Imaging if your pay is $4k a mth and got retrenched. Maybe 2 to 3 years cannot get a job. Imagine the large number of applicants outside with degrees, masters and more experience. And also those China, malaysian, myanmar whom got degree in NUS or NTU kena bonded to work here too. $4K a mth, 2 mths pay = Rolex. If 2 years jobless $4k*24 = $96000
                    Rolex stainless steel daytona (black dial)
                    Rolex LV submariner
                    Rolex TT black submariner
                    Rolex GMT2 Pepsi
                    Rolex Non date submariner
                    Rolex Explorer2
                    More...

                    Comment


                    • #11
                      true...tat is y it is always good to have back up plans...hahaha
                      Courage is what it takes to stand up and speak

                      Courage is also what it takes to sit down and listen

                      Quoted from Sir Winston Churchill

                      Comment


                      • #12
                        Just pick any blue chip stocks next year and keep for 3 to 4years. I think price will be double or more. Better than properties. Trust me.
                        Rolex stainless steel daytona (black dial)
                        Rolex LV submariner
                        Rolex TT black submariner
                        Rolex GMT2 Pepsi
                        Rolex Non date submariner
                        Rolex Explorer2
                        More...

                        Comment


                        • #13
                          hehehe..thanks for the tips bro...geez....collecting rentals is definately easier for me...hahaha....
                          Courage is what it takes to stand up and speak

                          Courage is also what it takes to sit down and listen

                          Quoted from Sir Winston Churchill

                          Comment


                          • #14
                            Originally posted by feilong108 View Post
                            hehehe..thanks for the tips bro...geez....collecting rentals is definately easier for me...hahaha....
                            Agree with U, it is a good hedge against inflation.....

                            Comment


                            • #15
                              It's frightening to be out of work and walking the streets

                              [ATTACH]3598[/ATTACH]

                              We must continue to hope for the best but be prepared for the worse.

                              Comment

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