San Eng - Ten Commandments of Investing

Ten Commandments of Investing

NEW YORK

LONDONNASHVILLEMELBOURNEVANCOUVER

Ten Commandments of Investing

Guiding Principles from the Greatest Investment Wizards

2021 San Eng, Tim Eng, Oia Eng

All rights reserved. No portion of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any meanselectronic, mechanical, photocopy, recording, scanning, or otherexcept for brief quotations in critical reviews or articles, without the prior written permission of the publisher.

Published in New York, New York, by Morgan James Publishing. Morgan James is a trademark of Morgan James, LLC. www.MorganJamesPublishing.com

ISBN 9781631953194 paperback

ISBN 9781631953200 eBook

Library of Congress Control Number: 2020945290

Cover & Interior Design by:

Christopher Kirk

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Though the authors made every effort possible to give the readers accurate information throughout the writing process, neither Morgan James Publishing nor the authors assume any responsibility for any errors or changes after publication. The contents of the book are the sole expression of the authors and not of the publisher. No person, company, or any entity compensated the authors or the publisher for mention in this book. The authors, to the best of their knowledge and abilities, believe the information and interpretation provided to be correct and reliable, but the accuracy and correctness believed are not guaranteed in any way. Furthermore, the authors assume no obligation to provide updates to the information provided.

The authors are not registered financial advisors. The authors are not, in any capacity, providing professional legal, financial, or investment advice. This book mentioned specific company names, asset classes, and investment strategies for informational purposes only, none of which should be deemed as recommendations to the readers. Reading this book does not in any way establish any fiduciary relationship between the authors and the readers, and the readers should always seek out professional advice from registered financial advisors for all financial and investment decisions. The authors do not assume any liability to any party for any loss, damage, or disruption caused by errors or omissions, whether such error or omissions result from negligence, accident, or any other cause whatsoever. The readers are responsible for their own choices, actions, and consequences in relation to all investment decisions.

This book contains forward-looking statements within the meaning of applicable Canadian and U.S. securities legislations. Forward-looking statements and information include, but are not limited to, statements with respect to future asset prices, potential financial crisis, potential economic expansions and contractions, potential for increase or decrease of public debt, the positioning of the authors portfolios to capitalize on current and future market conditions and outlooks, competitive uncertainties, and various contingencies. Forward-looking statements are subject to various known and unknown risks and uncertainties out of the control of the authors and publisher, all of which may cause results, performance or achievements that may deviate materially from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties, and other factors set out herein. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers should not rely on forward-looking statements provided and should do their own due diligence when making all investment decisions.

We, the authors, are grateful to hundreds of family members, friends, colleagues, and Investment Wizards who contributed their insights and wisdom, and their generous time, support, and patience to help make this book possible. We enjoyed writing this book immensely, having not only learned a lot, but also emerging as wiser investors while making many new friends along the journey.

Firstly, we would like to thank Sans parentsOia, Tim, and Chloes grandparentsfor instilling in all their progeny a respect and love for education and life-long learning. Both grandparents contracted COVID-19 early in 2020 and, sadly, took Grandma from us. Grandpa not only survived but is now in the best shape of his life. We are sad we cannot share this book with the both of them, but we know they are proud of this milestone, particularly Tim and Oia taking co-leads to research and write the book at such young ages. A special thanks also to Oias 15-year old sister, Chloe, who created the Wizards logo, the book cover, and all the wonderful portraits of the Wizards and authors in this book. Thank you to Oias other sister Bella for her work in producing the wonderful book trailer videos.

This book would not be possible without the wisdom from the hundreds of Investment Wizards we researched, worked with, and interviewed. For those Wizards we did not meet or interact with directly, we thank them for the generous sharing of their insights and investment advice through their books and podcasts. For the many Wizards we worked with directly, such as Kathy Xu, William Bao Bean, Joelle Faulkner, John Ruffolo, Eva Lau, Dr. Evan Fraser, Bobby Lee, and so on, we thank them for the privilege of doing so, and for their teachings. Still many other Wizards gave generous time to be interviewed for the Wizards Learning Seriesthank you, Alvin Wang, Alex Liu, Paula Madison, Brian Leonard, Willie Smith, Logan Freeman, Victor Li, Dan Ives, Caio de Andrade, Kai Wu, Ken Gee, Paul Moore, James Eng, and many others we cannot list due to the publication timing. We appreciate and have captured their insights on the Wizards podcasts, YouTube channel, and website.

We have a small team of dedicated interns that helped with both the book and the Wizards website. Irene Hung spent countless hours to help create the Wizards site and social media channels from scratch into a thriving, vibrant community of students who are serious about smart investing and financial independence. Colter Shelly helped create and seed much of the quality content for the community.

We would like to thank author Dan Brown, who gave generous advice and encouragement to help with the direction of this book. Thank you also to David Hancock and his team at Morgan James Publishing for their early interest and confidence in our project.

Last but not least, too many friends, alumni, and family friends to name generously offered to read manuscript drafts, providing valuable feedback to shape the book. These include alumni friends from the University of Pennsylvania and Wharton, Columbia University, NYU, Shanghai Jiaotong University, CEIBS, Phillips Exeter Academy, Loomis Chaffee, Taipei American School, and more. We also thank many of Sans FF fraternity brothers for their insights and sharing.

We have chosen to use green on our book cover to symbolize vitality, health, growth. In the United States and Western world, green shows money and wealth. The interior of the ebook uses a red accent color giving each Investment Wizards a red streak because in many parts of Asia, this color symbolizes luck and prosperity.