Renting Makes More Financial Sense Than Homeownership

Renting Makes More Financial Sense Than Homeownership

By Jack Hough

Sept. 26, 2008

I have something un-American to confess: I rent an apartment , despite having enough money to buy a house. I plan to keep renting for as long as I can. I’m not just holding out for better prices. Renting will make me richer.

I normally write about stocks for SmartMoney.com , but the boss asked me to explain to readers my reason for renting. Here goes: Businesses are great investments while houses are poor ones , so I’d rather rent the latter and own the former.
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The Philippines 40 Richest

Special Report

The Philippines 40 Richest

The Philippines is making a comeback. Second-quarter growth of 7.5% was the highest in two decades; unemployment was 8%, the lowest since 1997. After a slip on subprime financial worries in August the stock market has made a full recovery and recently posted record highs. It is up 28% for the year.   All of this helped boost the fortunes of many of its richest citizens, who were also helped out by the falling dollar, down roughly 10% against the peso for the year. For the first time in a decade a Filipino broke into the billionaire ranks. The son of a poor immigrant factory worker, Andrew Tan restructured his holding company, Alliance Global, and reaped the benefits; his net worth jumped to $1.1 billion, up from $480 million last year.   The year’s biggest gainer is Manuel Villar, the Philippine senate president, who is worth $940 million, up from $110 last year. He got a big boost from the public offering of Vista Land & Lifescapes. Seven other tycoons including Tony Tan Caktiong and Enrique Razon Jr. saw their fortunes jump by at least $100 million. Fifteen others are wealthier than last year. But not all rich listers fared as well. Fourteen are worth less than in 2006 but for reasons that often have to do with estate planning and better reporting. John Gokongwei gave away half his shares in JG Summit, the conglomerate he founded, to his family’s foundation. We also learned more details on holding company structures of such longtime rich listers as Henry Sy and Lucio Tan that resulted in lower valuations. As is the case with our other Asian rich lists, we try to focus where we can on individual– or at least nuclear family–wealth, so this year we broke up the billionaire Ayala clan into two separate groups. The Philippine list is still the easiest to make in all of Asia, requiring a net worth of only $30 million, $5 million more than last year, but $50 million less than any other country we track. The top 40 are worth a total of $17 billion, up from $16 billion last year. Wealth in public companies is calculated using stock prices and exchange rates from early October, while values of privately held outfits are estimates based on comparisons to prevailing price-to-earnings or price-to-sales ratios for similar publicly traded companies. Listing Bonanza “If you want to know the past, talk to an economist. If you want to know the future, follow the tycoons,” says Manuel Villar. In the Philippines, that has lately meant restructuring companies or listing them on the robust stock market, which has seen daily turnover–a measure of liquidity–jump tenfold to $121 million since 2003. Three companies backed by Philippine tycoons went public in a two-week period in July as these rich listers took advantage of strong market conditions. The first was Enrique Aboitiz, who spun off Aboitiz Power in a public listing, raising $220 million. Next was Villar, who de-listed his C&P Homes and took public a new company, Vista Land & Lifescapes, which included previously private assets as well as those from C&P. The maneuver helped boost Villar’s net worth by $830 million. At the end of the month came the debut of GMA Network, the nation’s second-largest media outfit, controlled and run by rich listers Gilberto Duavit Jr., Felipe Gozon and Menardo Jimenez. It ran into some controversy when a daughter of Ferdinand Marcos tried to prevent the offering, claiming that Duavit Jr.’s shares actually belonged to her. Stock exchange officials allowed the listing to go ahead. Up next is Splash, the personal care company operated by Rolando and Rosalinda Hortaleza, on track to go public later this year. Tycoon-backed companies that will likely follow suit include John Gokongwei’s budget airline Cebu Pacific; the beer business of Eduardo Cojuangco’s San Miguel, and McDonald’s Philippines franchise, in which Andrew Tan has a 49% stake.

Richest Filipinos
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Tags: 40 Richest Men in the Philippines Forbes Money Philippines Wealth

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Unrealized Potential

Unrealized potential
SKETCHES

By Ana Marie Pamintuan
Friday, September 19, 2008
 

Back in 1966, the Asian Development Bank (ADB) pondered the site for its headquarters. Its choices: Tokyo, Tehran and Manila.

The Philippine capital won because the country was seen at the time as one of the world’s most promising economies.
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Public Announcement

The following items have been recalled due to China’s milk situation:

1. M & M’s

2. Snickers

3. Menthos Yogurt Bottle

4. Dove Chocolate

5. Oreo Wafer Sticks

6. Yili Milk

7. Monmilk

8. Dutchlady Sterilised Milk

9. Wall’s All Natural Mango

10. Mini Poppers Ice Cream

11. Magnum Ice Cream

12. Moo Sandwich Ice Cream

13. Mini Cornetto

14. Youcan Ice Cream

These have been asked to be removed from stores.  If you have any of these items in your house, please don’t eat/consume them.

* I got the sms from my cousin Charles Wong, although I haven’t verified all the products included, I believe that it’s best to take precautionary measures.

What is Melamine?

Melamine is an organic compound that is often combined with formaldehyde to produce melamine resin, a synthetic polymer which is fire resistant and heat tolerant. Melamine resin is a very versatile material with a highly stable structure. Uses for melamine include whiteboards, floor tiles, kitchenware, fire retardant fabrics, and commercial filters. Melamine can be easily molded while warm, but will set into a fixed form. This property makes it ideally suited to certain industrial applications.
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The Hand of Hope

                                 (During the operation)

During the surgery on little Samuel, the little guy reached his tiny but fully developed hand through the incision and firmly grasped the surgeon’s finger.
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Dear Mom

Dear Mom,

You made me with dad..  When you found out, I thought that you’d be happy.  But instead you pinched your womb and got angry.  You went to the doctor for a consultation.

The doctor injected something.  It felt hot and it burned my skin.  It hurts me mom, it hurts!

When I came out, your problems were gone.

I’m really sorry that I’m in you.  I hope that making me came out undertime made you happy.  I’m sorry mom.

You may never hear this from me but “I love you” .  I really do.
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The People’s Pope

The People’s Pope

Compared to his predecessors truly,he’s one of a kind
History will go down and recall
That never had we had a pope
Who was so much loved by people of all ages.

His breathtaking charisma and unparalleled nobility
Have crossed boundaries of race,color and creed
Which united us all unprecedentedly
In his twenty six years of grandeur papacy
Using one universal language
The language of love which is peace.
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Dear Anak

Dear anak,

Naipadala kona 50,000 png tuition mo, pnagbli n nmin ung kalabaw.  Ang mhal pla counterstrike na kurso! wla na rin tau mga baboy,naipagbli n rin nmin pra dun s cnsbi mong project, nokia N75 ba yun?  Ang mhal nmn ng project mo! ksama dn dun 7000 pra sa field trip nyo sa mall of asia.  Mlayo b un,bkit ang mhal? issanla p nmin palayan pra mabili mo ung instrumentong i-pod.  Napailaw nyo na b ung pnagpuyatan nyong san mig lights?  sana grumaduate kana..!!

love, NANAY

Panda Wisdom by Cito Beltran

Panda wisdom

CTALK By Cito Beltran

Friday, September 12, 2008

What you trained for all your life is not necessarily your destiny.

This “gem” of a thought came to mind as I watched the animated movie “Kung Fu Panda”. I must confess that I am my daughter’s equal when it comes to being cartoon movie addicts. Perhaps I am a child at heart or a hopeless optimist, but to be sure, today’s “cartoons” and “Disney movies” are loaded with lessons and wisdom for those who seek and not for those who will not see.

Not everyone wins a gold medal at the Olympics. Not everyone wins in an election, and not everybody gets to be the Hero. In fact many of those who aspired and gave everything are found strewn all over a landscape of defeat, struggling to understand why they were not “the Chosen”.

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My Bestfriend is now an R.M.T.

Early this morning, at around 5am, I received a text message “Bes s wakas nkapasa nko!Ü R.M.T. nko…” My reaction was “wow!!”  My bestfriend is a graduate of MCU with a bachelors degree in Medical Technologies.  She spent her nursery, kindergarten, elementary, and high school in St. Stephen’s High School.  Iveenie and I became bestfriend during our 4th yr in high school.  See for yourselves, certified Medtech na bestfriend ko.. hehe!

PRC September 2008 Medical Technologists Licensure (Board) Examination Results

The result of the Philippine Medical Technologists Licensure (board) Examination which was held in Manila, Baguio, Cebu & Davao last September 6 & 7, 2008 has been released by the PRC.

The list of examination passers are listed below:

867 YABUT, VINCE LEENARD MAGDAMIT
868 YAP, MARGAUX NIELO
869 YAP, ROMMEL LIM
870 YARANON, SIENNA FE FRIGILLANA
871 YDAGDAG, JONALYN LLEGADO
872 YEE, IVEENIE UY
873 YMBONG, ANALYN DUNGOG
874 YTURRALDE, ERICK MARTIN HALAL
875 YUMUL, MA ROXANNE MARTINEZ
876 YUZON, JAY-R ENARDECIDO

 Congratulations Iveenie!  Galing!  I’m proud of you!  Peace na tayo huh?  Ü 

Wealth Pouch™

About a month ago, I was asked by a friend through Friendster with this question, “so what’s ur stand on financial literacy?”  I replied this way, very similar to Robert Kiyosaki and Donald Trump’s take on the issue. 

I believe that’s what we need to uplift our nation. I think the lack of financial literacy is more alarming than terrorism for it divides families, stagnates the country, and claim lives without us recognizing it.

Another friend of mine, Mandel Sy, who’s also part of the Create Abundance 2020, a business community that aims to spread financial literacy in the country through seminars and Cashflow101™ games, also shares the same idea.  Having these things in mind, Mandel and his partner/friend/classmate Jefferson created Wealth Pouch. 

I actually bought 3 , one for  myself, and two for my close friends.  Although I haven’t used the Wealth Pouch™ as a complex wallet, I’ve been using it (or a part of it: the cover bag)already as a case for my things.  Right after I bought it last Friday (thanks for the free delivery and discount I got), I used it the following day when I attended WorldCamp Philippines in CSB.  It was able to hold my organizer, digicam w/case, digicam charger, and cellphone charger.  See the pictures below.

By the way, you could have your customized embroidery of your choice - ofcourse I got my name on it.hehe!  Wealth Pouch™ is also an ideal gift to your friends and love ones.  To see the wallet itself, visit their site or contact Mandel Sy at 0906-3246543/0922-4085913.

*This is not a paid advertisement for the record.