May 18, 2017 Reflection (Personal Finance)

1. How useful did you find writing blog entries for every class?
I found it quite useful! I enjoyed writing blog entries. It allowed me to reflect on what had happened in class that day. In addition, it allowed me to think about what I wanted to focus on for the future. Beyond this class I think I might continue blogging/journaling in order to keep going.

2. The number one concept I have learned to date is...
Budgeting! I'm honestly so glad I started budgeting. While I've learned an amazing amount about where to invest my money, budgeting is what made this class for me. 

It's#1 because...
At the beginning, it was difficult and I ended up spending more than I could save. By the end, though, I found a system that worked for me and ended up saving a LOT more!

3. My biggest takeaway from the PF classes in April and May is...
Confidence is key. Now, I have a newfound appreciation for Personal Finance. The books we read in class have no doubt strengthened my confidence. And even though this slightly trivializes the subject, I've begun treating it like a game. I challenge myself to save more money than I spend. I compete with myself to earn more money than I lose. It's fun. 

May 16, 2017 Reflection (Personal Finance)

CME is over. My team did the worst. I don't quite know how to feel about that. I'm glad that I was able to get a better understanding on trading futures, but at the same time I feel bad that we did so badly. As I write in my CME summative assignment, it's lowered my confidence while simultaneously increasing the amount of experience I have.

On another note, May has been an amazing month for my budget. Because it's my birthday month, I've gotten a lot of gifts from my friends and family. As a result, other than the most basic food, I've been spending very little. The most I've spent is on groceries, to be honest. I'm glad I've been budgeting - this has raised my confidence.

May 12, 2017 Reflection (Personal Finance)

I wasn't here on Tuesday -- I was taking my AP Calculus exam. Tuesday marked the very last AP exam I will ever have to take. It was a bittersweet feeling. I'm glad that I'm done, but it's also a bit sad. I've found that I actually quite enjoy taking exams.  

At home, I have been reading The Behavior Gap. I think I'm actually enjoying this more than I did Millionaire Teacher. I'm not exactly sure how to explain it. Richards focuses a lot on what I as an individual can do. In contrast, Hallam focused on the errors of others and what people can learn from them. Both have their pros and cons, but I like the more personal feel of Richards's writing.

May 9, 2017 Reflection (Personal Finance)

I know you like to listen to rock  music. Have you heard Cage the Elephant? I recently heard a song called Ain't No Rest for the Wicked, and I really enjoyed it. I actually heard it from a TV show, but I can't remember what it was called. I think you might like it!

You said hello to me in the hallway today, and said it wasn't possible for me to learn something while walking. I disagree - even though multitasking doesn't allow people to fully focus while learning, I think for what I was doing, I was fine. I don't need to learn how to walk - I already know how. I was placing more focus on the video analyzing Reservoir Dogs That's pretty darn interesting. Learning the motivations behind directors and novels is really cool to me, despite being a STEM kid.

May 5, 2017 Reflection (Personal Finance)

We got a new book today! I'm looking forward to reading Behavior Gap. Learning about things that Mr. Hallam might have missed will help me get a better understanding of finance. That goes for most financial planning books, actually. Each one will help me in a way the others haven't. After reading just 19 pages in our 20 minute reading time today, I can tell I will really enjoy it.

One thing I like so far about this book is that Mr. Richards puts me as an investor first. I'm paraphrasing, but a line in the book said to think about my own goals instead of following everyone else. It's easy to get caught up in the bandwagon phenomenon, buying because others are buying, selling because others are selling. This is not a wise investment strategy. I should invest based on what I am attempting to achieve.

May 3, 2017 Reflection (Personal Finance)

Investing with CME is not going well. We've lost more than $3500 and seem to be making the wrong investments. The problem I'm having with the stock market is that it pretty much is a guessing game. How am I supposed to know when to buy and when to sell? What if the stock goes up after I sell or goes down after I buy?

This is why investing is scary and I feel like shying away from it. I have the opportunity to graduate debt-free from college. The money I make after that I can keep for myself. If I invest it, how do I make sure I don't lose too much? Investing is long term, I get it, but it's very discouraging. 

April 28, 2017 Reflection (Personal Finance)

Let the the CME High School trading challenge begin! Today, we're going to start investing our virtual $100,000 in a virtual stock market. I know this challenge is mostly about finance, but I can't help but appreciate the technology and the network behind the CME website. The numbers on screen reflect real market numbers. We can 'invest' in real commodities, index funds, and metals. It's very well laid out. It feels real, and it's exciting!

Here is what I'm writing to try and convince my group to buy the following futures:

1. The S&P 500 is a good future to invest in because, as we've discussed multiple times in class, it takes into account the entire stock market. It's a good idea to invest in this because the return of this fund is based on the entire stock market, and not just one or two stocks.

2. Currency - I think that the Mexican Peso is worth investing in because it's at a low price and its current trajectory seems to be up. I know our mantra is to buy low, sell high, and I believe this is a good combination of both.

I discussed with my group and we ended up buying them! I hope I made the right decisions :)

April 26, 2017 Reflection (Personal Finance)

This class, we got to meet someone from the CME group. Before class, I didn't know what to expect. We'd read about futures for homework before, but I'm still a novice at investing. I couldn't quite understand what exactly investing in futures meant. However, when the group came in to talk to us about the challenge, I found myself better appreciating the idea of investing.

It's kind of scary to begin. I'm sure that my group will make mistakes (after all, we can't profess to know about investing when we've never done it before), but soon we'll get the hang of the challenge. One thing I learned the importance of was to keep up with current events. Mr. Hallam in his book writes no to follow the news, and I first wrongly understood that to mean not to look at any news. However, that's obviously not a good idea and I know get that we shouldn't look at the financial news, and just go with what we know will work.

April 25, 2017 Reflection (Personal Finance)

Thank you for the extra five minutes of reading at the beginning of class today! I love The Name of the Rose, as I've said in countless blog posts before this one, and those extra five minutes helped me get through two more pages of unwieldy (but extremely entertaining) prose. How is I, Robot going? Science fiction is one of my favorite genres, and I love Isaac Asimov! Perhaps my favorite sci-fi book is Hitchhiker's Guide to the Galaxy (though I'm not quite sure one could classify it as sci-fi exactly).

I think I should participate more in class. Today's discussion was so interesting, and unfortunately I had fewer questions than I hoped I would. I think Chapter 8 is the most useful chapter in Mr. Hallam's book because it makes me aware of what kind of risks lie in the investing world. I'd known about Ponzi schemes and about Bernie Madoff, but learning how to detect one of these schemes is extremely important. More important, I'd argue, than knowing how and where to make more money.

April 20, 2017 Reflection (Personal Finance)

I am really enjoying The Name of the Rose. I always feel a bit sad when the 15 minutes of reading are over. I find myself sinking into my seat and pretending that I'm in the monastery. The main character is not the same as the narrator in this book, which I find quite interesting. The narrator is a monk named Adso of Melk, while the main character is his teacher, Brother William.

Every night for homework I read a little bit of Millionaire Teacher. I've really been enjoying it so far. The reading due for today was Chapter 7. We had talked a lot about the ideas in the chapter in class already, so I didn't feel like I was learning anything new, to be honest. However, I like reading Mr. Hallam's stories because it personalizes things for me. Reading about the effects of a real person's financial habits can help me predict what might happen to me if I did the same thing.

April 18, 2017 Reflection (Personal Finance)

I really enjoyed today's class (April 13). There were a few things in Chapter 5 of Mr Hallam's book that I didn't quite understand. Today's class really helped me clear that up. I especially liked the idea of proportionally investing in bonds. It's easy to remember, and in the long run it will definitely help my financial security.

You might have noticed that I was on my computer during the reading session. That's because I've been reading a book on my computer called The Girl Who Saved the King of Sweden. I can bring in a physical book next time, if you prefer. Speaking of books, I really liked your idea of asking the library to purchase books I'd like to read. It saves me so much money and other people can read the same books as well.

April 13, 2017 Reflection (Personal Finance)

April 13th is technically a Friday, considering we don't have school on the 14th. Mock season is slowly catching up. I'm beginning to realize just how much there is for me to study. I'm glad I'm taking finance. While I learn valuable, applicable skills, it's also not a class that I have to tear my hair out over. I especially appreciate that.

Monday I have a Calculus Mock (MCQ). Tuesday I have a Chinese Mock (FRQ). Then again on Wednesday and Thursday it alternates. In all, I'm taking 5 APs - 4 have mocks. The fifth is AP Computer Science Principles, and I'm taking it as an Independent Study. I learn through Harvard's CS50x course online. I think online courses are a great resource because many of them are free -- all you have to have is discipline.

April 11, 2017 Reflection (Personal Finance)

I'd like to try something new. Instead of a recap of my day, I've decided to open this blog post with a discussion question. This has been on my mind for quite some time. I'm eager to hear your thoughts on it! Without further ado, here is the question (it's quite a long one): I think money is money. Whether you've had it in your family for centuries, or you have amassed it entirely on your own, it remains just what it has always been: money. 

With this in mind, how come people in earlier days put so much focus on old versus new money? Is it a source of pride? What about inheriting money seemed better than earning it? This is quite an interesting question. I'm afraid I won't know until I construct myself a time machine and learn more about the world.

April 7, 2017 Reflection (Personal Finance)

Today, I'm back in the US. I wonder what PF is doing today. At some points I'm worried about how much school I have been missing, but at others I'm grateful for the opportunities I have. Because the university that is interviewing me for a scholarship has paid for my ticket to the US, I will not be in the same position as I was in February. February was a very busy month and because of flight costs and the like I ended up spending a lot more than my budget.

I'm excited for college, but I'm also quite nervous. It will definitely be an experience, living away from home for four years. I got to experience a similar situation the summer before 9th grade. That summer, I was at a expository writing camp held at Stanford University. I spent two weeks in the dorms, only coming home for the weekends. College will most definitely be more stressful because I have to balance work and life. I'm looking forward to it, though. It's a chance for me to become more independent and stand up on my own two feet.

April 5, 2017 Reflection (Personal Finance)

On this trip to the US, I will spend much less money than I did the last time I went. This is for two reasons. First, the university is paying for my flight (as I said in an earlier blog post). Second, I won't be staying in a hotel. Instead, I'll be staying with my uncle, who lives in San Jose.

My uncle's house is close to the university I'm interviewing at, about fifteen minutes by drive. In addition, it's about an hour's drive from UC Berkeley. I'm really excited about visiting Berkeley because I hope it will help me make my decision. I get to meet some professors, attend a couple classes, and also meet with current Berkeley students. It'll be fun! 

April 3, 2017 Reflection (Personal Finance)

Well, here I am again. I feel like I can't catch a break! I'm going to the US on Wednesday morning for yet another scholarship interview. This time, instead of Southern California, I'll be heading up north to Santa Clara and Berkeley. I'm lucky that I don't have to add a whole bunch of flight costs to this month's budget. The university I'm interviewing for is paying for my flight!

For the interview, I have to read a book. When I'm there, I'll be having a discussion with other interviewees about the book and what I learned from it. I'm a little sad that I have to take a break from Name of the Rose to finish this book, but it's important that I finish this new one. It's actually quite interesting, so far. It's about a man named Gregory Boyle, who started Homeboy Industries to provide gang members with job opportunities and such.

I'll keep you updated on the interview! 

March 30, 2017 Reflection (Personal Finance)

Name Of The Rose is slowly becoming easier to digest. The words are still difficult to understand, so I stop every fifteen minutes or so to understand everything. I use that break to look up the words I don't know, or to translate the Latin parts I have trouble comprehending. There's been a new development in the fifteen pages I read during class today. Another monk has been murdered, and now the main character Adso is on the case. 

Tonight, I research index funds. While I think I might wait a bit longer to start investing, it's definitely a good idea for me to research now. That way, when I go to the US for college, I will already have a diversified portfolio to invest in. I won't need to wait even longer researching then, too. I do want to wait until I go to the US, though. It would work better for me in the long term, as I plan to be there at least until I finish my Ph. D.

It's exciting, choosing where to go to college, but it's also a difficult decision. We'll see where I end up. 

March 27, 2017 Reflection (Personal Finance)

Today, March 17, is the day I present for TEDx. The theme of the event is "Prism of Possibilities." I'm speaking about the Digital Divide. The Digital Divide is generally described to be the gap between people who have access to technology and those who don't. It's a serious global issue that puts some countries decades behind others in terms of development.

I really enjoy giving presentations, so I'm excited about today's. At the same time, however, I'm nervous because I worry that I might not have memorized it well enough. I've been practicing for a while, though, so I hope I'll be fine. I'm also the first speaker, which adds to the pressure. I'm glad I'm getting it over with. That way, I'll be able to enjoy the other speakers without being nervous about my own.

March 17, 2017 Reflection (Personal Finance)

I've been thinking a lot about something you said last class, Mr. Bisset. You told us: "Guess what I did last night? Sold all my stocks because I think the market's going to crash." Today I read an article about the man who predicted the last crash; he thinks that Dow Jones is going to fall significantly soon. The close proximity of both things - your statement and the article I read - was rather striking.

How did you come to your conclusion? I'm interested in learning this because I want to have the same kind of insight in the future. What warning signs do you look for? What are some signs that I, in the future, should be aware of? It's really an interesting topic. Please let me know!

March 15, 2017 Reflection (Personal Finance)

I'm really getting into the new book I'm reading. It's titled The Name of the Rose and it's by an Italian author named Umberto Eco. It's quite a difficult book to read, especially because of Eco's writing style. It's long, unwieldy, and sometimes a single sentence lasts longer than two pages. However, I'm enjoying the premise and the words that Eco uses.

The story takes place in a monastery during the 1300s. It could be characterized as a "14th Century Murder Mystery," which is really interesting. I'm learning a lot about monks and what life was like for these religious people during the 1300s. Now that I'm learning a lot more about personal finance and the idea of wealth, I've been wondering about how people managed their wealth in the old days. Especially for these monks, who believe that frugality is important. Yet, they live in a monastery that is beautiful: floor-to-ceiling stained glass windows, painted with various scenes from the Bible; a library that is overflowing with books made of vellum, a luxurious and expensive material. How do they balance their aim for frugality with the magnificence of their monastery?

I know that this is a novel, and fiction, but I'm sure that in the 14th century monks and monasteries indeed looked the way they do in the novel. It's an interesting question, and one I might investigate.