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Should I Start off with Trading or Investing?

This is one of the questions I get the most from new traders and investors, who cannot decide whether to start learning trading or investing.

Most people end up only focusing on either one their whole lifetime, without realising that combining both is essential to building long-term wealth, and achieving it faster.

But how exactly do you combine both these skills?

Enjoy the video! 😀

15 FREE Animated Videos on the Basics of Trading & Investing

In collaboration with TradeHero (now Ayondo) & SGX (Singapore Exchange), we have developed a series of 15 animated video tutorials that will make learning fun & easy for all beginners!

I have been tasked as the mastermind behind the content, drawing from my knowledge of the 200+ books I have read and 10,000+ hours of professional market experience as mentioned in the video.

The videos are divided into 5 parts:

Grand Opening of Hustle Cafe – Awesome Brunch & Craft Beer!

After months of hard work and preparation, we finally launched Hustle Cafe, a brand new concept providing awesome brunch and 12 taps of craft beer (and cider).

But that is just the tip of the iceberg. 😀

Hustle Cafe occupies level 1 of the building, and on level 2, we have a co-working space for like-minded individuals to network and create synergies with their business.

And finally, on level 3, we have a training room, where classes on entrepreneurship, business growth and social media are conducted, and with that our whole business functions as a closely-knit business incubator community.

Do drop by when you are free, and have a chat with the friendly staff to find out more. See you there!

P.S. My favourite is the Carbonara pasta and Salmon Rosti, and for drinks I like number 3 and number 9. 😀

P.S.S. I will be having a workshop on trading and investing, and if you are keen to find out more about angel investing and why I invest in businesses such as this, do drop by to have a chat!
Check availability: http://synapsetrading.com/trading-foundation-workshop-2/

 

Grand opening on 21st July! Can’t wait! ? #hustlecafe

A post shared by Spencer Li ?? Synapse Trading (@iamrecneps) on

Chilling at my new cafe and making some trades. ? #hustleco

A post shared by Spencer Li ?? Synapse Trading (@iamrecneps) on

How to Grow a Strong Tribe Through Sound Business Principles & Integrity

Last week, I had the privilege to attend a 7-day training program in Johor to learn from Bill Allen, David Neenan, and the legendary Marshall Thurber.

It was a great time making new friends, learning (so many amazing individuals here!), and reflecting on turning 31 (on the first day of the course) this year.

Last year was an eventful year for me, in which I continued to grow my training business, bought a new house, and invested in 10+ new businesses.

During the 7 days, I also read these 3 books during my free time (in between the eating/drinking/massage sessions), which further gave me insights and clarity on how to build network by following sound business principles and sticking to my integrity. I am looking forward to many new exciting projects coming up soon.

Here is a summary of some of the key learning points from the course and the books:

  • How to position yourself as an expert in your field
  • How to develop sales funnels and build a strong “CULT-ure”
  • The story of the sea quirt – don’t stop learning!
  • Claiming responsibility gives us power over our lives.
  • Moments of hardship and difficulty are the times when we strengthen the muscle of responsibility. Only through challenge do we grow.
  • 4 options when you hit the wall: change yourself, change the system, get out, suffer.
  • When you are perturbed and aware, it means that an opportunity for a breakthrough may be at hand.
  • “Most of the best things that ever came my way seemed, at first, as if they might be the worst.”
  • Simply acquiring information is not learning – knowing vs. doing
  • Luck is what happens when preparation meets action.
  • Mistakes = great learning moments
  • A lateral thought is an innovation that takes an entirely new tack to solving a problem.
  • Lateral thought > Niche (Lag) > Leverage > Value
  • Commodity > Product > Service > Experience > Transformational offer
  • “Emergence by Emergency” – Bucky
  • Do you allow others to love and support you? support vs. propping up.
  • Values are the ideas that guide all your actions. Abundance is an attitude that shapes your reality.
  • What legacy do you want to create for this world?
  • Speed learning – learning is not time dependent, and once you get it, you get it.
  • Leadership – being able to make good predictions.
  • Hero vs. Victim mentality
  • The power of priming
  • The importance of a good network – strong connections & weak ties
  • Communication is the response I get
  • Interesting vs. Interested
  • The importance of “Essence” and “Emotions” – Go Hydra! 😀
  • Cyclical vs. Structural change
  • 2 most important things: time & attention
  • Clarity is power!
  • The law of Abundance – Sharing is having more!!! Cooperation vs. Competition.
  • “Financial freedom is having enough” – when is enough for you?
  • How to use leverage to amplify your resources
  • Ephemeralization – doing more with less
  • What business are you really in? (Hint: same for all biz)
  • Sometimes you need to slow down to get there faster
  • All decision are driven by emotions – get to the heart of the matter
  • DyVal = Quality/Investment
  • Request > Suggest > Surprise & Delight
  • The concept of Precession – always keep moving!
  • Theory > Method > Tools > Metrics
  • Network Science – how to build strong networks
  • What do you want to do in life once you have enough money?
  • Dissipative structures and Perturbation
  • How to deliver powerful presentations – the “Essence”
  • The concept of Entrainment
  • Mastery is to simplify the complex
  • Values vs. Policy – United Airlines case study
  • Client vs. Customers – how to attract more missionaries
  • Lemonade stand game – Revision of GAAP vs. IFRS accounting standards

 

Here are more photos of the event:

Photo with Bill and David, all business superstars. ? #7daysbizschool #futureofbusiness

A post shared by Spencer Li ?? Synapse Trading (@iamrecneps) on

Photo with the legend himself! #marshallthurber #futureofbusiness #futureofbusinessasia

A post shared by Spencer Li ?? Synapse Trading (@iamrecneps) on

Once again, a big thank you to all participants and organisers, and for those who are keen to join next year, please drop me whatsapp/email and I will link you up with the organisers for next year’s event.

Cheers! 😀

The Top 5 Hobbies of Millionaires & Billionaires Around the World

Recently, I came across an interesting report by Wealth-X, which conducts research about the ultra-wealthy. In this report, they revealed the hobbies, interest and passions of the world’s richest people, and some are actually very different from what we think them to be.

The top 5 hobbies are as follows:

1. Philanthropy

It’s surprising that philanthropy features top in the list of hobbies of billionaires. While giving by the rich is often ridiculed by others (“Probably giving because they feel bad”), giving is a financial discipline that keeps the rich rich, and the not-so-rich to be on the right path to success.

Some ways to give your money:

Give regularly to a cause you believe in.

There are some people who frown upon giving to the poor just because they are poor, or perhaps you don’t have a very good perception toward charity. If that’s the case, find a cause that you believe in, and give regularly to it. Some causes that are worth giving to include humanitarian aid, sponsoring budding artists, supporting the elderly in society, giving to children’s education (or even a partial scholarship).

 

Giving is good for the heart.

The act of giving brings a healthy sense of awareness of where your finances come from; the more you serve and give, the more likely it is that people treat you with respect and have a positive attitude towards you, and your business grows.

Give physical gifts instead of financial gifts.

Some charities allow people to give physical goods instead of money. Doing your research, getting the right contacts, and finding a cause you believe in (and a sustainable one too!) requires patience and some hard work on your part, but it’s a worthy exercise. Although I personally give regularly to several charities, I do not like to publicise it.

 

2. Travel

Rich people travel because… simply because they can afford it. If you do have the spare cash, it makes sense to start travelling while you are on your way to financial success. This keeps you motivated, and you can always upgrade your holidays when your financial stability improves.

But the real challenge for most people is not just the money, but also the time. Given the nature of my job (trading), I have become the go-to person whenever any of my friends want to travel, and over the past few years I have travelled to 50+ countries while still making passive income along the way.

 

Christmas tree + Cape Town Flyer + National Geographic photo frame ???? #Christmas #southafrica #capetown

A post shared by Spencer Li ?? Synapse Trading (@iamrecneps) on

 

3. Art

Art is something that really enriches the soul, and adds flavour to life. And there is a wide range of selection to choose from, ranging from a few thousand to rare pieces that go into millions.

 

Personally, I have taken an interest in this after hunting for some pieces for my new house.

4. Fashion

I’m not much into the fashion scene, but the ultra-rich truly enjoy obtaining unique pieces of clothing.

Bespoke, boutique, and customized clothing are the rage for the ultra-rich.

While I don’t really splurge on costly apparel, I do recommend spending good money on key essentials, like a pair of decent dress shoes for men, or any other piece of clothing that you find to be something you want to pull out once in a while.

I also find that it’s a waste of money to spend on cheap clothing; it’s far more cost-effective to buy quality, reasonably priced products that can last you 5-10 years, than to buy-and-throw most of your wardrobe.

That said, I do enjoy the occasional indulgence, from quality brands like Mont Blanc, Paul Smith, AP, etc 😀

 

5. Politics

When people mention the word “rich” and “politics” together, Donald Trump is the first thing that comes to mind. Other people like Henry Ross Perot, Mitt Romney and Ronald Lauder are also rich people who forayed into the political scene, but with limited success.

 

What are your hobbies?

At end of the day, your hobbies and passion are activities that bring additional job and add colour to your life, so pick something that is fun, meaningful, and something within your means. (Not all hobbies have to be ridiculously expensive.)

On a personal note, my hobbies include hitting a gym (with my trainer), tennis (with my coach), yoga (private noob level class), reading (2-3 books a week), and not forgetting trading (15 mins a day). Oh, and travelling as well. I aim for 2-3 new countries each year. 😀