MONEY SPECIALIST

Ever since Sony announced that GPS (Global Positioning System) receiver and mapping software for PSP would be available in Japan, PSP fans have been waiting with baited breath that maps for other part of the world would be made available as well. Wait no further… the GPS receiver is now available for sale elsewhere.

A clip to show Go!Explore in action

Recently, I managed to get hold of Go!Explore UK/Ireland Edition PSP software. I couldn’t wait any longer to test out the navigation software. Previously, I was using a GPS receiver with a PSP homebrew mapping software called Mapthis with a Penang map. But that is different story for another day.

Loading Go!Explore on my Phat PSP with the GPS receiver attached on top

Today, I am bringing you a brief review of my experience using the Go!Explore to turn my PSP into a personal navigation system. Together with the GPS receiver, Go!Explore is a fully functional 3D sat nav (satellite navigation) tool. This awesome sat nav product is cheap (priced at £27.99); just a fraction of the cost of other navigation systems on the market.

Main menu of Go!Explore software

Using at least 3 satellites orbiting around the globe to obtain exact location, elevation and speed.

Go!Explore uses the technology of two other market leaders: map data industry leader TeleAtlas and navigation software legends NavNGo. So it is not suprising that the software is user-friendly and a breeze to use. I can figure out most of the functions without consulting any manual. At the touch of a button, users will be able to find their position on a map and work out the direction they need to take.

It is able to pin point your location anywhere in the world; albeit without any map if not within UK/Ireland

Go!Explore incorporates both vehicle and walking functionality. When you’re in the car, you’ll benefit from different display modes for day and night. This means that you’ll always get the clearest view of where you’re going. You can choose from 11 languages and 22 unique audio voices of both men and women. I especially like the woman speaking in English accent; giving instructions to me as I explore my way to my destination on 2D map.

Navigation on 2D map with voice guidance

View the route summary to estimate the time of arrival

While walking on foot, you’ll be able to plot your way through cities in 3D thanks to the fully modelled city maps contained in the software. All you need to do is select the destination, then watch the screen as the city’s landmarks and points of interest (POI) appear in 3D. There are thousands of locations that are marked as points of interest on the map within 100 different categories, such as restaurants, hotels, gas stations, tourist spots, etc.

Search for any points of interest (POI) within the vicinity of the map

View the city’s landmarks on 3D map

It was being indicated that you can download new maps and upgrades from Playstation Store in the near future. This will guarantee that you’ll find those special locations wherever you’re travelling. On a personal level, you can manage your favourite trips, save places and routes. You can also create a step-by-step journey schedules, just like an itinerary. You can even search and explore the surrounding area without attaching the GPS receiver.

Route settings to change your preference

To me, this inexpensive product is top notch that managed to unravel the hidden potential of PSP. Besides playing game or watching videos, I can now use my PSP to navigate my way around unfamiliar cities. This tool will definitely come in handy if I ever to visit UK one day.

UPDATE:
To those who can’t wait for the Sony PSP-290 GPS receiver to be available in your country, you can buy it online from Play Asia.

Note: People are wondering whether the pre-order price £25.99 for Go Explore at Amazon includes the GPS receiver since there wasn’t much details posted. To set things straight, HMV is also carrying the product at the price of £27.99 with GPS receiver included. My take is that Amazon will include the GPS receiver as well.

Everybody’s a genius in a bull market, the old saying goes. But a bear market creates fear, uncertainty and costly mistakes. The conventional definition of a bear market is a decline in stock prices of 20% or more, lasting at least two months.

You can experience two types of bear markets, temporary and permanent. Markets tend to go up and down and then back up. In a temporary bear market, you lose 20% or more but eventually recover. In a permanent bear market, you lose 20% or more and you never get it back.

 

Here are 5 ways to avoid permanent losses and crash-proof your portfolio: 

1. Diversify among many stocks and sectors

If you own a diversified portfolio, you’re unlikely to suffer from sub-prime mortagage mess. Financial services and homebuilders are doing poorly now. Yet energy, natural resources and export-intensive industries that benefit from a weak dollar are holding up better. Better still, own thousands of stocks via mutual funds.

2. Don’t forget fixed income

Even with all this diversification, you still need some fixed-income investments such as bond funds. Don’t expose your entire portfolio to the stock market. Fixed-income funds can be a great stabilizer. Just how much fixed income you need depends on your circumstances, and figuring this out is worth spending some time with a good financial advisor.

3. Consider a mechanical defensive strategy to limit losses

Active risk management isn’t for everyone, but it is possible to follow systems that let you invest in an asset when its price is rising and switch to cash when its price is falling. Every day that your money is in cash is a day you’re not exposed to a possible bear market. Don’t do this without a firm discipline. You’re asking for big trouble if you base your moves on your emotions or your own judgments about the market.

4. Don’t panic

Selling an investment after it’s taken a big hit can leave you with a permanent loss. If it rebounds, which it probably will, you won’t be there to benefit.

5. You can’t outwit the bear by avoiding all risk

One of the worst bears in the forest is inflation, and it can be especially painful for the most risk-averse investors. If you want to hang onto cash in an environment of 3% inflation, you are almost certain to lose purchasing power over the long run. Even staying exclusively fixed-income securities can’t overcome the combination of taxes and inflation.

 

Crashes happen and so do those nasty bear markets. But every investor can limit the damage by following these guidelines. All the historical evidence indicates that a properly diversified portfolio has never suffered a permanent bear market. Unfortunately, some common investor behaviors can easily turn temporary losses into permanent ones.

So be patient. And if you have trouble keeping track of all these things, a good professional advisor can help you.