ATIC at HCMC MAY 31 – JUNE 1 08
 CLICK FOR MORE INFORMATION AT:http://www.theatic.net/2008/index.php?city=hcmcSPEAKERS AT:
|
 |
 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Archive for May, 2008
COME JOIN OUR INDUSTRY EXPERTS
Tales of Untruths or Allegations
MUST be refuted as the security and stability of Singapore could be undermined by political untruths ! My thinking.
HENCE:PM Lee takes stand in High Court to defend claims against SDP
By S Ramesh, Channel NewsAsia | Posted: 26 May 2008 1912 hrs
 |
||||||
|
||||||
SINGAPORE : Singapore’s Prime Minister Lee Hsien Loong took the witness stand at the High Court on Monday in his case to claim damages against the opposition Singapore Democratic Party (SDP) and its leaders – Chee Soon Juan and his sister Chee Siok Chin.
Mr Lee and Minister Mentor Lee Kuan Yew are taking the SDP to task for an article in “The Democrat” – the party’s publication in 2006 – about the National Kidney Foundation (NKF) saga.
In court on Monday, PM Lee said all he is seeking is to establish that the article had published lies.
Mr Lee also stressed on the integrity and competence of the Singapore government. He said it is not a government “based on power and greed”, as claimed by the SDP.
He told the court the whole government had been defamed because of what had been published, and this had a “very far reaching” effect.
Mr Lee said the article had implied that the mistake made by the NKF epitomised what the whole government had stood for. This was a very grave charge and action had to be taken to defend the entire system.
The prime minister said that the lawsuit was not about money but about “putting a stop to poisonous lies and to establish the truth”.
Senior Counsel Davinder Singh has urged the High Court to award substantial damages to Prime Minister Lee Hsien Loong and Minister Mentor Lee Kuan Yew.
Mr Davinder is defending the Prime Minister and Minister Mentor Lee in their defamation case against the Singapore Democratic Party and its leaders.
In his opening statement, Mr Davinder said the court can and should express, “in the strongest terms, its indignation at the conduct of Dr Chee Soon Juan and his sister Chee Siok Chin”.
He said there must be no doubt in anybody’s mind that, “in publishing the article in ‘The New Democrat’ in February 2006, the defendants had lied, and lied again.”
Mr Davinder added that “even if damages cannot be fully recovered from the defendants due to their bankruptcy, a ruling for substantial damages will go a long way towards vindication”.
He stressed that the case was unprecedented for its array of false allegations, and perhaps “the gravest defamation that has ever been considered by a Singapore court”.
The hearing has adjourned till May 27 when SDP chief Chee Soon Juan will continue with his cross examination of PM Lee.
The High Court has already given the prime minister and the minister mentor a summary judgement in their defamation suit against the SDP. – CNA /ls
Will Futures be banned ?
Following the spikes in Crude lately, there is a movement to ban oil speculation which may also include all Futures.
Will this be feasible?
Thanks to NicT for these articles:
Germany in call for ban on oil speculation
By Ambrose Evans-Pritchard
Last Updated: 12:53am BST 27/05/2008
German leaders are to propose a worldwide ban on oil trading by speculators, blaming the latest spike in crude prices on manipulation by hedge funds.
It is the most drastic proposal to date amid escalating calls from Europe, the US and Asia for controls on market forces, underscoring the profound shift in the political climate since the credit crunch began. India has already suspended futures trading of five commodities.
 |
|
| Speculators are split, with some betting that oil will fall |
Uwe Beckmeyer, transport chief for Germany’s Social Democrats, said his party would call for joint measures by the G8 powers to prohibit leveraged trading on energy contracts. “It’s an extreme step but it has to be done,” he told the Berlin media.
Mr Beckmeyer said the last 25pc rise in the price of oil to $135 a barrel had nothing to do with underlying supply and demand. “It’s pure speculation,” he said.
Oil has doubled in price over the past year and the concerns are echoed on Washington’s Capitol Hill where irate Democrats want rules compelling traders to take delivery of crude oil, a move which would paralyse the market.
There is now broad support in Germany for a clampdown on “locust” funds. President Horst Köhler said modern capitalism had turned into a “monster”, bringing the entire financial system to the brink of collapse this spring.
The Social Democrats form part of Chancellor Angela Merkel’s ruling coalition. Her own Christian Democrat Party shares concerns that funds are causing a fresh bubble in commodities, risking further havoc for the real economy and society.
In the long run, any scheme to ban futures trading would be extremely hard to enforce as the markets would tend to move offshore. Hedge funds are probably not the culprit in any case.
Speculators are split, with some betting that oil will fall. The mass of money coming into the commodity indexes is mostly from pension funds and long-term investors.
Oil markets are likely to shrug off the moves as political posturing, instead focusing on Norway’s suspension of crude output at three platforms, cutting supply by 138,000 barrels a day.
The news comes as Lloyd’s Marine Intelligence reported Opec oil shipments fell by 1m barrels per day in the four weeks to May 4, confirming suspicions that the market has been chronically short of supply.
OM !that turns us sound
Cross-Ref from:
Sunday, May 25, 2008
A Simple Step That Turns Things Around
I recently received an email from a reader who reported his first solid, profitable week in a while. He was particularly happy that, during the week, he had tamed some of those trading demons
“I started to do brief meditation after each losing trade and it really helps to tame the demon. By keeping emotion in check helps me to avoid any trading disasters I had so many times in the near past
My comment:
Brett
What simpler than the sound of ‘OM’, the first vibration of the universe! the Music of the Spheres….
More from www.awanginvest.com
MEDITATION:OM http://www.youtube.com/v/H7ofPdEgsoQ&hl=en“
Pump & Dump -guest blogger
Mon 26 May 2008 Cross-reference from www.tradingsuccess.com/blog/
Pump & Dump
Posted by ray under Miscellaneous
No Comments, post comment
I would like to start by introducing myself ; I am Ana aka Idkit.I just received an urgent message from Ray ,whose hip and back are playing up, to step in as his ‘guest blogger’ for today.
In a flash, I thought it may be informative if I post a topic that is common knowledge among traders but not so common among novices. As a slightly advance trader than novice traders, I think it may be useful information if I touch on the media.
It is a fact that many Wall Street firms and their analysts took billions of dollars from individual investors. How? Launching worthless IPOs or initiating coverage with strong buy recommendations , way too late.
A good lesson is from the 2000 US Presidential Election, when many TV stations wanted to be the first to air breaking news. Alas, many times, they jumped the gun. They would report a story about the cure for Alzheimer disease, for example, and the stock shot through the sky, only to plummet when it was reported that the CEO of the company was ‘ mysteriously misquoted.’
There was another stock editor who was responsible for moving many stocks sharply in price in 1998-1999. In 2000 and 2001, he was more cautious due to complaints received by the network. He still teased the viewers about his upcoming reports and those who knew what stocks he was going to talk about bought. Upon release of his report, these same buyers would sell to viewers who were watching on TV and listening to his report and recommendation.
RESULT:This stock editor had cost the unfortunate ‘dumb buyers’ lots of ruin.
LESSON: DO NOT TRADE STOCKS THAT ARE PUMPED BY THE TV NETWORKS AS GUESTS ON ANOTHER SIDE OF THE TV SHOWS ARE TRYING TO PUSH STOCKS THAT THEY ALREADY OWN by DUMPING.
MY OWN LESSON: Before I was persuaded to take lessons as an online trader by my Lao Shi-Fu, which was about the Fall of 2005, I suffered a big drawdown. The call for more capital by ChinaAOil was disguised from the public about what was then big trouble brewing in the company. With hindsight now, I was trading with no money or risk management, relying only on hearsay in the media. Now with every trade I take, the instrument has gone through some kind of filter ie technical analysis with a trading plan. Upon entry, I put in my stop loss , in addition to working out my target and risk reward ratio.
CONCLUSION: CAVEAT EMPTOR.
This concludes my brief against irresponsible stock editors on TV.
Subsidies not the way to go – MM Lee
In this I totally agree as I have seen how subsidies in the West have led to abuses and lack of incentives to work for what you want in life. Meritocracy works in Singapore to bring us where we are today.
Published May 26, 2008
Subsidies not a long term solution: MM Lee
By CHEN HUIFEN
 |
|
 |
SUBSIDIES will never be a long-term solution to rising prices in oil and food, just as the experience in other countries has shown, Minister Mentor Lee Kuan Yew reiterated yesterday in response to the many letters to the media urging the government to impose subsidies for a whole range of items.
Instead, the way to go is to bite the bullet and pay market prices so that Singaporeans will know the true value of what they are paying for and not take things for granted.
At the same time, the government will continue to ensure that every Singaporean has the highest paid job he is qualified to do. Singapore, too, needs to remain competitive. ‘We got to keep on earning more and more,’ said Mr Lee.
‘We must have a good currency that we can exchange for US dollar, yen, renminbi, whatever,’ he added. ‘With that money, however much the price of rice goes up, or meat or whatever, we will not go hungry.’
Speaking at the Tanjong Pagar GRC Family Day held at Queenstown Stadium despite having a bad sore throat, Mr Lee drew upon examples in Europe and the region, where outright subsidies for various goods and services resulted in abuse and over-consumption. And when governments tried to do an about-turn by cutting those subsidies, they faced much resistance.
  <script language=’JavaScript1.1′ src=’http://ads.asia1.com.sg/js.ng/Params.richmedia=yes&site=tbto&sec=btointhenews&cat1=bnews&cat2=btointhenewsart&size=300X250′></script><noscript><a href=’http://ads.asia1.com.sg/click.ng/Params.richmedia=yes&site=tbto&sec=btointhenews&cat1=bnews&cat2=btointhenewsart&size=300X250′><img src=’http://ads.asia1.com.sg/image.ng/Params.richmedia=yes&site=tbto&sec=btointhenews&cat1=bnews&cat2=btointhenewsart&size=300X250′ border=’0′></a></noscript |
To ensure that Singaporeans can continue to earn more, more complex jobs and services have to be created. These include pharmaceutical production, research and development, financial services, logistics centres, ‘which needs highly organised, educated people’.
Citing the US as an example of a country that has climbed back after every setback, Mr Lee said that Singapore needs to be just as creative and imaginative, ‘and then we will make it’.
He also reminded Singaporeans to be grateful that there is long-term stability here, set against a favourable geographic location free from earthquakes, tsunamis and typhoons.
Mr Lee took the opportunity to thank Singaporeans who wished his wife well. Mrs Lee had suffered a massive brain haemorrhage two weeks ago. He also cut short his speech due to his sore throat. He is expected to be cross-examined by Singapore Democratic Party chief Chee Soon Juan today in a defamation hearing concerning past articles that appeared in the SDP’s newsletter.
‘So I want to save part of my voice to let him cross-examine me. Of course, in the course of cross-examination, I would also have a few things to say.’
Methane v Livestock
Here is an interesting article following the rise in crude recently:
http://www.lumina.com/casestudies/methanelivestock.htm
Here is a comment sent to me privately:
To be frank, its an ethical problem not a technical problem, we can impose more on animals to contain methane, make cars more efficient, but you can’t avoid nature’s retribution. So far no natural disaster or man-made disaster has been successfully avoided. Its unlikely that new ones can be predicted either. You can also point out lines from edited scriptures that someone already said that its ok to kill, but its like hiding your head in a cardboard box during a hurricane. Its about changing your heart despite what you are told to do otherwise, nothing much can matter more in the little time we have to spend walking this earth.. its not how much money you put in your bank but how much spiritual (not religious) growth you can achieve, if you realise this point then its obvious what is right and what is just might-Unquote
The road taken
| Money is perceived to be not the end all ; returning back to society is the road taken by successful people, as in this case: article sent in by NicT: May 25, 2008 |
|||
|
me & my money
He sets aside money for the needy
|
|||
| Mr Vivek Kamath puts aside 10% of his savings for charity, and he plans to raise the proportion to 50% later | |||
| By Lorna Tan, Finance Correspondent | |||
As a child growing up in Mumbai, Mr Vivek Kamath was exposed to considerable poverty. This is why the former head of the Asean OTC (over- the-counter) business unit at pharmaceutical firm Novartis sets aside 10 per cent of his monthly savings to donate to the needy in India. And he intends to increase the proportion to 50 per cent of his income when he turns 50. In fact, Mr Kamath, now 39, has plans to set up a school or institution during his retirement years to help poor students. He considers himself lucky to have enjoyed a worry- free childhood. His father, a civil engineer with the Indian government, provided well for the family. His parents taught him the virtues of saving.
‘But savings are only half the story. Investments help grow the value of money over a period of time. Being disciplined in saving and investing early is more important than market timing,’ said Mr Kamath.He started saving and investing the day he drew his first pay cheque in 1991. He put the money in a 15-year fixed income fund provided by the Indian government, which now has a guaranteed rate of 8 per cent a year. A careful and prudent investor, Mr Kamath tracked the Indian stock market for 15 years and started actively trading only five years ago. He believes in investing only in what he understands. Thus, he trawls websites and analyses company results, annual reports, order books and corporate announcements. For now, he likes industries such as infrastructure, telecoms and retail because he feels these are the ones with long-term potential. He usually keeps cash in hand of about $100,000, which he uses to invest in undervalued stocks when the markets go down and for emergencies. He has been in the health-care industry for 17 years, working in India and the Asean region. He is currently making a career change and is looking at new job opportunities in this region. He is married to Ms Vijaya, 36, the head of telecom practice for the Asia-Pacific at leading Indian software firm Tata Consultancy Services. They have a daughter, Adidi, eight. Q: What are your money management habits? I spend on needs and basic comforts. I spend judiciously but adequately. Essential luxury items that I have purchased include an iPod and a laptop for my daughter. I limit my household expenses to one-third of my total family household income. The rest of about $20,000-plus is saved. Every month, 10 per cent of my savings goes to a charity fund. The rest is split equally between cash holdings of US$250,000 (S$341,750) and investments. Q: What financial planning have you done for yourself? I have invested US$125,000 in fixed income instruments that generate annual returns of 8 per cent; US$125,000 in gold (gold coins and recently a gold exchange-traded fund), which has returns of 10 per cent; US$100,000 in stocks that generate 25 per cent in returns; US$50,000 in mutual funds with annual returns of 20 per cent; and about US$300,000 in real estate. Q: What about insurance planning? I’m covered for about US$225,000 on my life, largely through term and endowment plans. I also have medical insurance and investment-linked plans (ILPs). I pay about US$15,000 a year in premiums and US$6,000 for the ILPs. Q: What’s your investment philosophy? I follow a systematic investment plan. My investments are spread across diverse channels. I don’t believe in putting all my eggs in one basket. I focus on equity through direct and mutual funds and ILPs. I aim to beat inflation and grow my savings. I also want to build a corpus, that is, set aside enough to generate a passive income stream for life after 50 or retirement. Finally, I want to fulfil my social responsibilities. I believe in disciplined investing and opportunity or contrarian investing. I study and track companies, and buy mostly during a bear phase and not during a bull phase. Q: Moneywise, what were your growing-up years like? My parents emphasised the importance of self-discipline, moderation and middle-class family values. They focused on education, hard work, religion, charity and the value of money. My mother was a homemaker. She taught me financial discipline. She gave my sister and me money for doing household chores. She encouraged us to save this money and, at the end of each month, she would add up what we had saved, and this would be deposited in our bank account. Hence, there was an incentive to earn, save and invest. Q: What has been a bad investment? I bought some stocks when I started working, with money taken from my first few months’ pay. I relied on some tips from friends but did not thoroughly research the companies. Both the companies and the stocks did badly and I lost about US$500. That seems small now, but then, it was a big sum for me. Q: Your best investment to date? My 1,360 sq ft apartment in Mumbai, purchased in 2003 for $140,000. Its value has more than doubled in less than five years and could grow further. I’m not renting it out. I also buy small amounts of gold every year, and they are now giving good returns. Q: What’s your retirement plan? Last year, I paid $80,000 for a retirement home: a 1,300 sq ft apartment at a place near my home town of Mangalore in India. I plan to take up teaching and community work after I turn 50 or 55. Q: And your home now is… ? A rented apartment in Singapore in district 9. |
|||
My announcements at STC/Blog
SOON I SHALL be moderating at STC/Blog/ and my own IDkit and here are the reasons why:
Acceptance of Decisions’ Consequences
Posted by ray under Psychology
[6] Comments; see/post comment(s)
If you are wondering about Ana’s comment…. I shall have a hip replacement on June 11 and in all likelihood, shall be bed ridden until June 26. In that time, some of my students and friends will make contributions to keep the blog going while I am away. Trust readers will be generous and accept their offerings until I return.
May 22nd, 2008 at 6:13 am To all readers of this blog:Hip, hip..who? ……….Ray!
I am trying to make light of this for our mentor Ray, who has been suffering from excruciating pain lately due to chronic arthritis of the right hip.
It has come to a head when he cannot postpone the operation needed to fix his hip joint which is also affecting his gait. He has to use a walking stick to support him when walking.
For now, he has to finish his commitments with ATIC in Ho Chi Minh City next weekend.
After this ATIC commitment, he has cancelled his other presentations for June. He will undergo his operation in HK in second week of June, to convalesce for about a month, before he can resume his travelling to present his papers in late July onwards.
During this period of his surgery and convalescence, I shall be posting articles from a select group including mine, if necessary, so that the blog goes on.
So please direct all your enquiries, if any, to me in the meantime at yintrader08@gmail.com