Wednesday, 22 August 2012
Tuesday, 21 August 2012
Hanazen .... Baby!!!
As Japanese restaurants go, its not a difficult task to locate good ones, as seriously there is very little cooking with good Japanese food. It all has more to do with getting the best produce, best cuts and delivered with sincerity and care.
One more Japanese restaurant that fits the bill perfectly is Hanazen @ Jaya One. You may choose to order the sets, which are more than reasonably priced to get a good taste of what Hanazen has to offer. Most sets are under RM40.
However, to get a real good taste of the best of Hanazen and what chef/GRO Mun Mun has to offer, go for the omakase ( chef's choice), it will set you back RM250-300pp but its certainly worth it, just the very best of what they have on offer and more. The sashimi platter might not look like much but it offers the best of what they have, isn't that what you want, the best on the menu?
This was quite decadent, Kobe beef, Grade 5 (top level), marbling 9, crispy fish skin plus foie gras.
When you cut open the Kobe beef, it looked so good, I had to take another photo.
One sure fire way to detect a really good Japanese restaurant is the wasabe, it has to be grated from a fresh root, not the ones mixed from powder please...
This is QP mayonnaise, which is very Japanese, which i had a silly discussion over the wonders and usage of QP. We had other fancy tidbits, like the mini anchovies fried together to look like our brittle crunchy cuttlefish, except it tasted healthier and goes well with alcohol. I also forgot to take a photo of our appetiser plate which had 3 interesting elements - take it from me, just remember to order the omakase.
Oh, must order your own sake of course, its a wonderful experience. Remember that only mediocre sake is drunk hot, good sake is always drunk cold. Go and knock yourself out.
Service is 10 out of 10, but ask for the GRO Mun Mun to tide things over.
One more Japanese restaurant that fits the bill perfectly is Hanazen @ Jaya One. You may choose to order the sets, which are more than reasonably priced to get a good taste of what Hanazen has to offer. Most sets are under RM40.
However, to get a real good taste of the best of Hanazen and what chef/GRO Mun Mun has to offer, go for the omakase ( chef's choice), it will set you back RM250-300pp but its certainly worth it, just the very best of what they have on offer and more. The sashimi platter might not look like much but it offers the best of what they have, isn't that what you want, the best on the menu?
This was quite decadent, Kobe beef, Grade 5 (top level), marbling 9, crispy fish skin plus foie gras.
When you cut open the Kobe beef, it looked so good, I had to take another photo.
One sure fire way to detect a really good Japanese restaurant is the wasabe, it has to be grated from a fresh root, not the ones mixed from powder please...
Oh, must order your own sake of course, its a wonderful experience. Remember that only mediocre sake is drunk hot, good sake is always drunk cold. Go and knock yourself out.
Service is 10 out of 10, but ask for the GRO Mun Mun to tide things over.
Friday, 17 August 2012
Selamat Hari Raya, Keroncong Style
Music plays a huge part of our memories. As in any balik kampung event, its our memories and nostalgia that fill the air. So, here are my favourite keroncong tunes by Kartina Dahari for listening pleasure over this festive period. Drive dafe.
Many Malaysians (including younger Malays even) have not heard of Kartina Dahari. Well, she was one of the top singers in the 60s and 70s. She was known for her keroncong songs. Don't ask me how I know of her songs, heard it on the radio when I was much much younger but you could hardly get a copy of her recordings on CDs. Keroncong styled songs are not everyone's cup of teh tarik, for me it struck a chord, you need to slow everything down, relax and take it easy and go with the flow of the songs - it soothes the soul. She is from Singapore although she lives in London most of the time now with her son. I love her voice, her delivery and her keroncong songs were highly accessible. Whenever I listen to her songs, I think of my younger days with my dad driving on the old trunk road on the way to Penang, late afternoon, windows down, with the breeze and trees as companions.
Easily her rendition of Sayang di Sayang has to be my favourite. Terkenang Kenang is also splendid. The third song doesn't quite fall into keroncong category but still good.
Thursday, 16 August 2012
Best Things in Life Are Free
Never has the cliche been more meaningful when it comes to designing a company's logo. The two best logos for big companies have to be Coca Cola and Google, and they both cost the company $0 because it was done in house.
cost: $35
Nike co-founder Phil Knight purchased the famous swoosh logo from graphic design student Carolyn Davidson in 1971. Knight was teaching an accounting class at Portland State University, and he heard Davidson talking about not being able to afford oil paints in the halls. That's when he offered her $2/hour to do charts, graphs, and finally a logo. "I don't love it, but maybe it will grow on me," Knight said, after doling out $35 for the swoosh. I mean, seriously Phil, the company has grown so big, if it was me I would have offered the designer $1m bonus when your net worth started surging past $500m. The swoosh was a great design, its cool, signify speed and upward mobility and agility.
cost: $33,000
Paul Rand was paid $33,000 for creating the Enron logo in the 1990s. I think any feng shui master will be able to tell you this is a doomed design. Its tilted and does not inspire confidence.
cost: $625,000
OK, this did not cost that much but certainly it wasn't inspiring or snazzy at all. Designed by Wolff Olins. The funniest comment was that it looked like Lisa Simpson performing oral sex.
cost: $1m
OK, the logo is pretty cool but Arnell Group which came up with the logo also came up with a 27-page document, titled "Breathtaking," was full of pop-culture buzz words explaining Arnell's methodology for the redesign. The report was mocked using phrases like: "Emotive forces shape the gestalt of the brand identity." How to b.s. for $1m.
cost: $1.8m
Simple, professional and conservative, but did it have to cost $1.8m?
cost: $211 million
Ad agency Ogilvy & Mather worked with BP's changing logo, tagline, and image in 2001 “to reinvent itself as an energy company people can have faith in and inspire a campaign that gives voice to people’s concerns, while providing evidence of BP’s commitment, if not all the answers.” Well after the carnage from the oil spill, the brand image did not help one bit.
cost: $35
Nike co-founder Phil Knight purchased the famous swoosh logo from graphic design student Carolyn Davidson in 1971. Knight was teaching an accounting class at Portland State University, and he heard Davidson talking about not being able to afford oil paints in the halls. That's when he offered her $2/hour to do charts, graphs, and finally a logo. "I don't love it, but maybe it will grow on me," Knight said, after doling out $35 for the swoosh. I mean, seriously Phil, the company has grown so big, if it was me I would have offered the designer $1m bonus when your net worth started surging past $500m. The swoosh was a great design, its cool, signify speed and upward mobility and agility.
cost: $33,000
Paul Rand was paid $33,000 for creating the Enron logo in the 1990s. I think any feng shui master will be able to tell you this is a doomed design. Its tilted and does not inspire confidence.
cost: $625,000
OK, this did not cost that much but certainly it wasn't inspiring or snazzy at all. Designed by Wolff Olins. The funniest comment was that it looked like Lisa Simpson performing oral sex.
cost: $1m
OK, the logo is pretty cool but Arnell Group which came up with the logo also came up with a 27-page document, titled "Breathtaking," was full of pop-culture buzz words explaining Arnell's methodology for the redesign. The report was mocked using phrases like: "Emotive forces shape the gestalt of the brand identity." How to b.s. for $1m.
cost: $1.8m
Simple, professional and conservative, but did it have to cost $1.8m?
cost: $211 million
Ad agency Ogilvy & Mather worked with BP's changing logo, tagline, and image in 2001 “to reinvent itself as an energy company people can have faith in and inspire a campaign that gives voice to people’s concerns, while providing evidence of BP’s commitment, if not all the answers.” Well after the carnage from the oil spill, the brand image did not help one bit.
Wednesday, 15 August 2012
Why A Severe Bear Market Could Be Just Around The Corner
While valuations are still reasonable and liquidity still ample in global markets, there is going to be a confluence of events that could derail even decent or fair valuations. Global markets have been through a pretty bumpy ride so far this year, thanks to the Greece worsening on/off debacle. Every single time, the EU leaders would convene another hastily reworked package to stave the bleeding patient. Now we have not one bleeding patient but another coming into ICU (Spain), the hospital is running out of blood and nerves are shot.
To a large extent, we did not see the boil over yet because the US economy showed signs of recovery even though unemployment kind of stopped improving over the last two months, however retail spending and housing there showed signs of life in the lake of death.
Hugely uncertain political developments and big macro boil overs seem to be on the cards as the year winds down. If the US starts to look shaky again, all bets are off for a sustained markets recovery. OK, read the last sentence again, please.
We only need to bother to look at the itinerary of events, its all there for all to see. The US election will happen on November 6, 2012. WHOEVER is elected is not important. The start of 2013 will see a SEVERE FISCAL tightening owing to:
a) the expiry of $400bn in tax cuts
b) $200bn in spending cut which is mandated by law in the US
However you want to cut it, corporate spending and consumer spending will shrink out of caution, and you can expect unemployment to rise again as companies starts to hold off hiring owing to the fear factor.
Let me throw in another spanner into the works. Almost every single state in the US is having grave problems balancing their state budgets, and no credible solution is forthcoming from any of them.
Can the Fed help?
Bernanke has been warning time and again (twice in the last month) that the Fed cannot be shouldering the burden alone as they only have the taps to monetary policy. Bernanke is trying not to sound panicky but I believe he already is shaking in his boots. He said that any monetary policy has to be packaged with fiscal policies for it to work. Already if you look at the Fed's balance sheet, there is little room to further release liquidity. Even if the Fed does that, the money is just going straight to Treasuries and money market and not to the real economy.
Once the house of cards starts to wobble in the US, the EU situation will be magnified and compounded, no more excuses or hope. How will all this affect equities? Well, you can expect a dramatic pulling out of funds from all type equity investments, regardless of whether pockets of Asia or Latin America are doing well.
The silly thing is that the currencies of USD and yen will rise again as safe havens even though balance sheet wise, they are the most vulnerable and pathetic fundamentals. Brace yourself to be in cash 80% by the time US elections comes around. The global events will make the results of a Malaysian elections inconsequential.
This will drag the US and Europe into another bout of recession, and when the big boys are sick, the small fries don't do too well. Companies wanting to raise funds or list better do it before the year is over. Cyclical industries will kaput once again.
To a large extent, we did not see the boil over yet because the US economy showed signs of recovery even though unemployment kind of stopped improving over the last two months, however retail spending and housing there showed signs of life in the lake of death.
Hugely uncertain political developments and big macro boil overs seem to be on the cards as the year winds down. If the US starts to look shaky again, all bets are off for a sustained markets recovery. OK, read the last sentence again, please.
We only need to bother to look at the itinerary of events, its all there for all to see. The US election will happen on November 6, 2012. WHOEVER is elected is not important. The start of 2013 will see a SEVERE FISCAL tightening owing to:
a) the expiry of $400bn in tax cuts
b) $200bn in spending cut which is mandated by law in the US
However you want to cut it, corporate spending and consumer spending will shrink out of caution, and you can expect unemployment to rise again as companies starts to hold off hiring owing to the fear factor.
Let me throw in another spanner into the works. Almost every single state in the US is having grave problems balancing their state budgets, and no credible solution is forthcoming from any of them.
Can the Fed help?
Bernanke has been warning time and again (twice in the last month) that the Fed cannot be shouldering the burden alone as they only have the taps to monetary policy. Bernanke is trying not to sound panicky but I believe he already is shaking in his boots. He said that any monetary policy has to be packaged with fiscal policies for it to work. Already if you look at the Fed's balance sheet, there is little room to further release liquidity. Even if the Fed does that, the money is just going straight to Treasuries and money market and not to the real economy.
Once the house of cards starts to wobble in the US, the EU situation will be magnified and compounded, no more excuses or hope. How will all this affect equities? Well, you can expect a dramatic pulling out of funds from all type equity investments, regardless of whether pockets of Asia or Latin America are doing well.
The silly thing is that the currencies of USD and yen will rise again as safe havens even though balance sheet wise, they are the most vulnerable and pathetic fundamentals. Brace yourself to be in cash 80% by the time US elections comes around. The global events will make the results of a Malaysian elections inconsequential.
This will drag the US and Europe into another bout of recession, and when the big boys are sick, the small fries don't do too well. Companies wanting to raise funds or list better do it before the year is over. Cyclical industries will kaput once again.
Tuesday, 14 August 2012
Warren's Mantras
"Rule No. 1: never lose money; rule No. 2: don't forget rule No. 1"
Source: The Tao of Warren Buffett
"Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful."
Source: Letter to shareholders, 2004
"The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities ¾ that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future ¾ will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There’s a problem, though: They are dancing in a room in which the clocks have no hands."
Source: Letter to shareholders, 2000
"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."
Source: Letter to shareholders, 1989
"The stock market is a no-called-strike game. You don't have to swing at everything--you can wait for your pitch. The problem when you're a money manager is that your fans keep yelling, 'Swing, you bum!'"
Source: The Tao of Warren Buffett
"Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway."
Source: The Tao of Warren Buffett
"Long ago, Ben Graham taught me that 'Price is what you pay; value is what you get.' Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down."
Source: Letter to shareholders, 2008
"You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ."
Source: Warren Buffet Speaks
"Long ago, Sir Isaac Newton gave us three laws of motion, which were the work of genius. But Sir Isaac’s talents didn’t extend to investing: He lost a bundle in the South Sea Bubble, explaining later, “I can calculate the movement of the stars, but not the madness of men.” If he had not been traumatized by this loss, Sir Isaac might well have gone on to discover the Fourth Law of Motion: For investors as a whole, returns decrease as motion increases."
Source: Letters to shareholders, 2005
"After all, you only find out who is swimming naked when the tide goes out."
Source: Letter to shareholders, 2001
"When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever."
Source: Letter to shareholders, 1988
"Our approach is very much profiting from lack of change rather than from change. With Wrigley chewing gum, it's the lack of change that appeals to me. I don't think it is going to be hurt by the Internet. That's the kind of business I like."
Source: Businessweek, 1999
"Time is the friend of the wonderful business, the enemy of the mediocre."
Source: Letters to shareholders 1989
"The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table."
Source: Businessweek, 1999
"I have pledged – to you, the rating agencies and myself – to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow’s obligations. When forced to choose, I will not trade even a night’s sleep for the chance of extra profits."
Source: Letter to shareholders, 2008
"I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will."
"Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497."
Source: The New York Times, October 16, 2008
"I am a better investor because I am a businessman, and a better businessman because I am no investor."
Source: Forbes.com - Thoughts On The Business Life
Source: The Tao of Warren Buffett
"Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful."
Source: Letter to shareholders, 2004
"The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities ¾ that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future ¾ will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There’s a problem, though: They are dancing in a room in which the clocks have no hands."
Source: Letter to shareholders, 2000
"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."
Source: Letter to shareholders, 1989
"The stock market is a no-called-strike game. You don't have to swing at everything--you can wait for your pitch. The problem when you're a money manager is that your fans keep yelling, 'Swing, you bum!'"
Source: The Tao of Warren Buffett
"Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway."
Source: The Tao of Warren Buffett
"Long ago, Ben Graham taught me that 'Price is what you pay; value is what you get.' Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down."
Source: Letter to shareholders, 2008
"You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ."
Source: Warren Buffet Speaks
"Long ago, Sir Isaac Newton gave us three laws of motion, which were the work of genius. But Sir Isaac’s talents didn’t extend to investing: He lost a bundle in the South Sea Bubble, explaining later, “I can calculate the movement of the stars, but not the madness of men.” If he had not been traumatized by this loss, Sir Isaac might well have gone on to discover the Fourth Law of Motion: For investors as a whole, returns decrease as motion increases."
Source: Letters to shareholders, 2005
"After all, you only find out who is swimming naked when the tide goes out."
Source: Letter to shareholders, 2001
"When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever."
Source: Letter to shareholders, 1988
"Our approach is very much profiting from lack of change rather than from change. With Wrigley chewing gum, it's the lack of change that appeals to me. I don't think it is going to be hurt by the Internet. That's the kind of business I like."
Source: Businessweek, 1999
"Time is the friend of the wonderful business, the enemy of the mediocre."
Source: Letters to shareholders 1989
"The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table."
Source: Businessweek, 1999
"I have pledged – to you, the rating agencies and myself – to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow’s obligations. When forced to choose, I will not trade even a night’s sleep for the chance of extra profits."
Source: Letter to shareholders, 2008
"I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will."
"Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497."
Source: The New York Times, October 16, 2008
"I am a better investor because I am a businessman, and a better businessman because I am no investor."
Source: Forbes.com - Thoughts On The Business Life
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