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Personally, when i started, my RM keep asking me to average down many many years ago today the stock is only 4cents I bought at IPO made about 30K then RM ask me buy in when it dropped i bought it at 90+cents and average down along the way until 40cents then give up lost more than 1/4mil p i s s e d o f f lesson learnt - never be greedy, make your own decision - if wrong only yourself to blame this is my biggest mistake in stock market, i will always remember so that i will not make the same mistake again business - will share later when others

https://www.abc.net.au/news/2022-10-01/david-taylor-global-financial-crisis-2/101492384 The world is flirting with another global financial crisis, and the next few weeks are key It's hard to overstate the magnitude of the financial trouble Britain and, because of its financial heft, the world found itself in this week. We came within inches of "global financial crisis mark 2". That's not hyperbole. Towards the end of 2008, it was clear many Wall Street investment banks were on the brink of collapse. They were sitting on tens of billions of dollars' worth of rubbish assets – mortgage-backed securities attached to properties plummeting in value. A credit crunch was sparked when the US government allowed Lehman Brothers to collapse. It was sitting on a lot of these worthless assets. Suddenly, it was unclear who could afford to repay loans and who couldn't. We've just flirted with a scenario of similar magnitude. The problem now is, well, the flirtation is not over. Comedy of errors Liz Truss – Boris Johnson's replacement as British prime minister – inherited an economy at risk of entering a protracted and deep recession. Truss delivered a "mini-budget" last week which offered up lots more government spending and the biggest package of tax cuts in 50 years to help stimulate the economy. Great, right? Well, not so much. Financial markets asked an obvious question in response: "how are you going to pay for this?", when the UK's budget deficit (or net borrowing) is already in the hundreds of billions of pounds. The BBC reported conservative MPs walking the corridors "in shock" after the mini-budget was handed down. The ultimate response from the money markets was a vote of no confidence in the fiscal package. The bond market "sold off". Bond prices in the fixed income market plummeted. As bond prices fall, yields rise. It's really not necessary to understand the bond market machinations here, but it is important to understand the next point. That is, for Britain's pension scheme to work, or continue as a going concern, interest rates can't rise too high too quickly — which is what happened. The funds found themselves unable to pay pensions because they were losing too much money on their investments. To stop this, the Bank of England came in to buy up bonds on an enormous scale to increase the price of bonds and lower the interest rates on those bonds. "To achieve this, the Bank will carry out temporary purchases of long-dated UK government bonds from September 28. The purpose of these purchases will be to restore orderly market conditions," the Bank of England said. "The purchases will be carried out on whatever scale is necessary to effect this outcome. The operation will be fully indemnified by HM Treasury." But here's the killer line. "Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability." What the Bank of England was suggesting, according to former London City trader Henry Jennings, is that when the bond market moved violently against these pension funds, they were at risk of being placed into margin calls. That is, many funds had borrowed money to make more money. They were heavily in debt to enhance their returns. They were about to be asked to "pay up". If they were asked to pay up, they would have been forced into liquidating their assets, which he says would have led to a financial markets "death spiral". The sheer weight of global assets being sold off would have, in Jennings' opinion, led to a global "confidence crisis". Problem not going away The Bank of England bailout of Britain's pension schemes is limited. "These [bond] purchases will be strictly time limited," the BofE said. "They are intended to tackle a specific problem in the long-dated government bond market. Auctions will take place from today until 14 October." So, what happens when they stop buying gilts, or British bonds? The chief economist of the National Australia Bank says the forces that led to Britain's financial system edging to towards the brink remain firmly in place. "Markets are getting a bit worried," Alan Oster says. He says interest rates in Britain will keep climbing, and may do so quite aggressively in the coming months. "[Markets] are talking – well, it's frightening, they're starting off from a cash rate of 2-ish per cent and they're talking about a 1.25 per cent or 1.5 per cent interest rate increase [at the next Bank of England meeting]". "It's extraordinary and of course the pound is being absolutely killed." In other words, the problem facing the pension fund scheme is set to return. It's heavy stuff So, let's just do a quick stop-and-check at this point, because it's heavy stuff. The UK is still at risk from a financial crisis because a major investment scheme remains vulnerable to a bond market that's still at risk of plummeting due to the UK's economic woes (in part created by a dire mini-budget). This is all being reflected in a recent collapse of the pound. A financial crisis in the UK would, analysts say, lead to a global economic rout. Is Australia immune? The short answer is no. The Australian dollar is hovering around two-year lows against the greenback, and the stock market is down 15 per cent from peak to trough. We're inching towards a share "bear market". This has obvious implication for those in and approaching retirement. A destabilisation of the global financial system, more broadly though, would produce the same shock waves as 2008 and 2009. It leads to higher unemployment and a recession. The problem this time around is that the Australian government, and indeed the Reserve Bank, are in no position to engage in extraordinary economic stimulus measures. But … so far so good However, it seems the majority of Australians, right now, have the financial capacity to continue on in a relatively normal fashion. Australian retail turnover rose 0.6 per cent in August, according to Retail Trade figures released by the Australian Bureau of Statistics earlier this week. The August increase was the eighth consecutive rise and follows a 1.3 per cent rise in July and a 0.2 per cent rise in June. "This month's rise was driven by the combined increase in food related industries, with cafes, restaurants and takeaway food services up 1.3 per cent and food retailing up 1.1 per cent," Ben Dorber, head of retail statistics at the ABS, said. The dark cost-of-living clouds hanging over millions of Australians is "being balanced by people saying, 'well, I'm not going to lose my job' ", NAB chief economist Alan Oster says. "The economy is doing really well." But, and that's a big but, he says ominously, the "next four weeks will be interesting". That's a reference to the fact that the bulk of already-announced Reserve Bank interest rates hikes will hit bank accounts over the next couple of months. It's unclear to most observers how, exactly, this would damage the Australian economy. Work is already underway though to put policy makers in a better position to make the right calls when it come to pulling the levers. The ABS, for example, is now delivering monthly inflation or cost of living data. The first monthly Consumer Price Index (CPI) indicator rose 7.0 per cent in the year to July and 6.8 per cent to August. The largest contributors, in the 12 months to August, were new dwelling construction, up 20.7 per cent, and automotive fuel, up 15.0 per cent. Now the Reserve Bank is in a better, or timelier, position to see how its policy tightening is influencing prices in the economy. This, in practice, is meant to avoid hiking interest rates too far. The RBA meets on Tuesday. At the moment it's a coin toss as to whether the bank raises its cash rate target by 0.25 or 0.5 percentage points. How serious is all this? Naturally, with any major financial event, the question is: do I need to worry about this? The answer is that you need to keep watching this story unfold. AMP's chief economist, Shane Oliver, suggests while the Bank of England's short-term effort to bring back the UK financial system from the brink has worked, the country's financial system is set to go right back there again soon. "The Bank of England's intervention to calm the gilt market (which was threatening financial problems for UK pension funds) by buying bonds (ie restarting QE) has helped calm things – directly in the UK and indirectly elsewhere by showing that authorities will still intervene in a crisis," Dr Oliver said. "Unfortunately, the return to QE [bond buying] may just add to inflationary pressures if it has to be sustained for long, which may necessitate an even higher interest rate hike when the BoE next meets in early November with many talking about a 1.25 per cent hike, which leaves the BoE in the silly position of easing and tightening at the same time." So, the options are that the Bank of England keeps coming to the rescue of the UK financial system with the risk of exacerbating inflation which will lead to much higher interest rates, or allow the market to take over, and risk a full-blown financial crisis when the bond market collapses again. Australia seems to be in a reasonable position now to manage a financial shock, but it's unclear whether that will still be the case in just a few weeks' time. Huge risks remain. Printing trillions of dollars of money, globally, during the pandemic to support the global economy was always fraught with risk. As it stands we are unable to remove that economic support without the whole system collapsing, but we need to remove it before we create even bigger economic problems. It's an extremely uncomfortable position to be in.

The secret deals and hidden assets of some of the world’s richest and most powerful people have been revealed in the biggest trove of leaked offshore data in history. Branded the Pandora papers, the cache includes 11.9m files from companies hired by wealthy clients to create offshore structures and trusts in tax havens such as Panama, Dubai, Monaco, Switzerland and the Cayman Islands. They expose the secret offshore affairs of 35 world leaders, including current and former presidents, prime ministers and heads of state. They also shine a light on the secret finances of more than 300 other public officials such as government ministers, judges, mayors and military generals in more than 90 countries. The files include disclosures about major donors to the Conservative party, raising difficult questions for Boris Johnson as his party meets for its annual conference. More than 100 billionaires feature in the leaked data, as well as celebrities, rock stars and business leaders. Many use shell companies to hold luxury items such as property and yachts, as well as incognito bank accounts. There is even art ranging from looted Cambodian antiquities to paintings by Picasso and murals by Banksy. The Pandora papers reveal the inner workings of what is a shadow financial world, providing a rare window into the hidden operations of a global offshore economy that enables some of the world’s richest people to hide their wealth and in some cases pay little or no tax.

Lai lai, weekend time, MCF has a lot of experts , come help this lady..... https://www.theguardian.com/money/2021/apr/05/my-boyfriend-wants-my-flats-rental-money-if-i-move-in-with-him-what-should-i-do In 2017, six months after buying my one-bedroom flat in 2017, I lost my job. I managed to get another one but at half my previous salary. I’m still able to pay my mortgage but my repayments now make up about half of my monthly income. Since 2018 I have been dating a guy who is now planning to buy a three-bedroom house for him and his two children. The house needs to be in a different area from where I live so that the children can be closer to their mother and in the catchment area of the school they hope to go to. We have been talking about me moving in with them. He suggested that I sell my flat but after talking to a few estate agents, I decided against selling as I would have got back less than I paid for it. So I’ve now decided that if I do move in with my partner, I will rent my flat out even though the potential rental income will not fully cover my monthly mortgage payments, which is not ideal. My real problem is that my boyfriend and I can’t agree on how to arrange our finances. My boyfriend expects me to contribute to the costs of his mortgage. I agree that it would be unfair of me to live in his house for free but I don’t agree that – as he has suggested – I should pay him the rent from my flat (after tax)....and read on using the link above..

SINGAPORE - Singapore Press Holdings-owned sgCarMart has started a financial services arm to muscle in on the billion-dollar car-financing market. The car portal will offer financing to used car dealers for their vehicle inventory as well as to car dealers to offer hire purchase loans to buyers. sgCarMart's wholly-owned online auction subsidiary, Quotz, will take a 30 per cent stake in sgCarMart Financial Services for $1.5 million. The remaining 70 per cent of the venture is held by T Financial (51 per cent) and five other parties, SPH said in an announcement to the Singapore Exchange. T Financial is a fully-owned subsidiary of Toh Capital, which used to be a major shareholder in four used car dealerships. The other shareholders are car trader Lake View Group and individual investors from the management team of sgCarMart. https://www.straitstimes.com/singapore/transport/sgcarmart-moves-into-financial-services?utm_medium=Social&xtor=CS1-10&utm_source=Facebook#Echobox=1541585998

A new Bond is being issued in Singapore. Let's not start with the James Bond jokes. https://secure.fundsupermart.com/main/bond/bond-info/factsheet.svdo;FSMAPPID=wqTF3FdKG6YkmxI0t8GWCCSl2k25du3El4lWB39_yrmJoeyM9Py7!1867248078?DCSext.dept=21&WT.mc_id=58861&issueCode=JK5852351 I like the rate but as I don't undestand bonds I won't be investing. As I understand it although the coupon rate is 5.3% annually the price of the bond can go down as well. So at the end of the investment period money can be lost. Is that correct? Or can anyone provide a simple short version of how a bond works.

Have you previously bought for yourself or your loved ones investment-linked policies (ILPs)? Well, on the surface such instruments put forth a rather enticing proposition: secure substantial insurance coverage, at the same time have funds funneled into unit trusts to grow your nest egg. But the somewhat fuzzy manner in which things actually "work" behind the scenes typically means you the client will in all likelihood be shortchanged despite your best efforts to be discerning. It shouldn't come as a surprise; after all, actuarial science is a notoriously sneaky slimeball exploited to benefit an insurer's bottom line first and foremost. Let's discuss a real life case (yes it happened!) in which an individual in his thirties who until late September 2017 has been contributing a not quite insignificant monthly premium of $215.66 towards a $200,000 sum assured ILP offered by a well-known international insurer. Having done so for the past eight years plus since June 2009 (which therefore spans a duration of 12 × 8 + 3 = 99 months), he would have forked out a total of $21350.34. The bloke finally came to his senses and decided to cut his losses after much deliberation, so he surrendered his policy and received a cheque for an amount slightly less than 16k. How much did he throw down the drain altogether? A whopping five thousand dollars plus change! Utterly shocked? You should be. In a nutshell, here are the main reasons why the purchaser of an ILP will almost surely be at the losing end of the deal: Your premiums are used to pay for a lot of crap other than for actual investment purposes In the initial years, chunks from your premiums are taken to cover distribution costs, with the remaining funds (obviously no longer a 100%) being used to actually invest in unit trusts sans typical 5% sales charges. And then there are insurance charges incurred alongside policy fees which are deducted by selling away units on a monthly or annual basis. As one ages, insurance charges soar, not in a linear fashion mind you, but in an exponential one, which means the scenario where the units held in your policy end up being completely sold away just to account for these costs can arise, and you may even have to fork out extra monies to top up for the outstanding shortfall. In a nutshell, you could become a very unhappy holder of a policy with zero cash value, and still have to burn cash for continued insurance coverage in your twilight years. More at Financial: The useless ILP, and how to go about terminating it

Spin off from the earlier thread which was locked... Just wondering how you blokes out there perceive or define how a man's financial responsibilities are - in a marriage? There's no right or wrong, I guess largely, it also depends on a person's upbringing and family environment. I strongly believe that husband and wife should both contribute financially. Doesn't matter who contributes more, mostly the man, but its the core principle that a marriage is shared responsibilities and hence, in a world where women are increasingly independent and demands equality, I reckon this is fair practice. Marriage is a partnership, and with dual contribution, the potential to achieve greater things grows 2 fold. Of course, I know of many women who disagrees... So just wanna hear your views.

I am not financially trained. With the situation with Greece and today's falling market, is there anything to be worried about? or is this just another day in the market? Or is this leading to something like the Asian financial crisis?

hmmmm.......... MOF requesting your suggestion for Budget 2015 CNA news: Public invited to give ideas, suggestions for Budget 2015 SINGAPORE: Individuals, households and businesses have been invited to give ideas and suggestions on possible measures for Budget 2015, and provide feedback on issues such as taxation and public spending, the Ministry of Finance (MOF) said on Wednesday (Nov 26). Members of the public can visit the REACH Pre-Budget 2015 microsite at www.reach.gov.sg/budget2015 until Jan 29, 2015, to submit their views online. MOF has also launched the Budget 2015 website at www.singaporebudget.gov.sg, through which the public can access the latest updates on Budget 2015, as well as general information on the Singapore national budget process. On Thursday, Senior Minister of State for Finance and Transport Josephine Teo and Parliamentary Secretary for Health and Transport and REACH Vice-Chairman Muhammad Faishal Ibrahim will join around 80 Singaporeans at an MOF-REACH Pre-Budget 2015 Conversation to discuss ideas and suggestions for next year’s Budget. In addition, MOF and REACH will stage three pre-Budget 2015 Listening Points across Singapore from December 2014 to January 2015. The Listening Point is an open booth for Singaporeans from all walks of life to share their views. Singaporeans can also submit feedback via the following channels: REACH Singapore Facebook www.facebook.com/REACHSingapore REACH Singapore Twitter (#SGBudget2015) Singapore Budget website www.singaporebudget.gov.sg Email [email protected] Toll-free hotline at 1800-2260806 SMS to 9-SPEAK-UP (9-77325-87) - CNA/cy link: http://www.channelnewsasia.com/news/singapore/public-invited-to-give/1494350.html OK.... my suggestions 1) Reduce Defence Spending - more money channel to Health Care subsidy & medicines (out patient clinic - polyclinics) 2) Reduce Personal tax 3) Reduce transportation fare 4) Reduce education fee (all levels - pri to uni) already coming to evening, mind can't think of any more after long day works...

Singapore sovereign wealth fund GIC has sold its entire stake in the Bank of America Merrill Lynch Financial Centre in London for £582.5 million (S$1.2 billion). Norges Bank Investment Management, Norway's sovereign wealth fund, is the buyer of the prime freehold property in London's financial district, said GIC in a statement yesterday. The move follows GIC's full acquisition of the RomaEst Shopping Centre - in which it already had a 50 per cent interest - in Italy on Monday. GIC bought the 585,000 sq ft London office property from Merrill Lynch in 2007 for £480 million, beating investors such as Syrian-born tycoon Simon Halabi and Irish investor Derek Quinlan. Norges Bank said in a statement that the acquisition was not financed by debt. Bank of America Merrill Lynch will continue to manage the property, under the lease agreement. The financial centre has a net lettable area of about 550,000 sq ft. It comprises four buildings on a 1.3ha site, and was first purpose-built by the American bank as its flagship headquarters in London. The complex is also near the historic St Paul's Cathedral. GIC has been on a shopping spree in Europe of late. It bought a stake in RAC, Britain's second-largest roadside assistance firm, from Washington-based private equity firm Carlyle Group two weeks ago. GIC also agreed to buy 30 per cent of Spanish real estate firm Gmp for more than €200 million (S$323 million) last week. Earlier reports had noted that GIC may be part of a group of investors in talks to buy airports in Aberdeen and Glasgow in Scotland as well as in Southampton in southern England for £1 billion. Quick calculation on the returns from purchasing Bank of America Financial Centre: Purchase $480 million (sterlings) in 2007 = SGD $1,440 million (07 sterling to SGD is 3 ish to 1 give and take lah) Sold $582.5million (sterlings) in 2014 = SGD $1,194 million (current rate is 2.05 ish give and that lah) Lost = SGD$246 million just in foreign exchange fluctuation Assumption: No debt financing, related fees not taken into account, rental not taken into account Somebody please tell me I'm wrong but the numbers are what it is right?

http://www.youtube.com/watch?v=kdPkaCTdxBU

Any accountants/ finance managers around ???? Need to clear some doubts over the Dupont 3 and 5 part model 1) The answers form the 2 models will be similar ? 2) the calculation on the leverage factor: it is definded as total assets in 2012 / total equity in 2012 OR total assets (2012) / total equity (2011)?

Any bros receive the following amusing e-mail also? Was chuckling while reading this "attractive" offer In today's internet age will anyone still falls for such crap? Geezzzz... UNITED NATIONS FINANCIAL AUTHORITY FUND'S CLEARANCE AND REMITTANCE EXECUTION PENNSYLVANIA AVENUE, NW WASHINGTON, DC 20500 U.S.A. Telephone number: + (1) 9406 032688 Nmae: FREDERICK PAUL GONZALEZ Email: [email protected] Telephone number: + (1) 9406 032688 ATTENTION OF: Entitled Beneficiary of Huge FUNDS SUBJECT: UN GENERAL MEETING CONCLUDED TODAY The United Nations Financial Authority (UNFA) have just concluded the general meeting of today, in which good progress was confirmed in your favor. The meeting lasted for three (3) hours because all the officials from various parastatals were present. The delegates from London, United Kingdom; sent by the honorable President of EUFC (European Union Financial Commission) were in the meeting, the officials of IMF World Audits (including Mrs. Margaret Powell and Alvin T Clyde) arrived in good time before commencement of the meeting. Also, present in the crucial meeting of today were Mr. Gabriel Alanson and Kenneth Irwin Dickson from Commonwealth Financial Network Office in California-USA; and the Senior Financial Auditor from Bank of England. The meeting started in a good time and all the invited officials plus the top executives of United Nations General Assembly (UNGA) joined at the Conference Room and the meeting commenced in earnest. The Remittance FILE bearing your last-name was presented for deliberation. The executive financial auditors have unanimously resolved to include your full-name amongst the favored beneficiaries who will benefit from the amount earmarked for payments of Long-overdue debts. In accordance with the resolutions each of the favored beneficiaries will receive the sum of US$28,500,000.00. (Twenty Eight Million, Five Hundred Thousand US Dollars). The remittance officials must as a matter or necessity, proceed to effect the transfer of the authenticated/ approved amount of US$28.5Million FAST to your own nominated account. The Chairman of Intercontinental Credits Commission (ICC) opined that he will handle the remittance directly to your account. He will oversee the whole processes and to make sure that there shall be No more hitches. After that, the IMF Auditor and two other top executives (Marilyn and Wilbeck) who came with him from New York pleaded that we should allow the Office of the honorable Chairman of ICC in The ICC Transmittal Regulatory Office shall protect you from any unexpected encumbrances on the Funds' movement. This will further provide maximum protection to you as the beneficiary, and ensure easy reception of the Funds into your destination account. During the meeting of today, the international financial authorities resolved that all favored beneficiaries must quickly send application to the Chairman of 'ICC' (Prof. Thomas Hamilton) requesting for 'Accelerated Remittance' of your Funds to your bank account nominate. Send your full contact details (name /address) and your 'correct' bank account particulars via this email address: [email protected] You should also call his Office Telephone number: + (1) 9406 032688 Awaiting your prompt updates, as all hands are on deck to effectuate the smooth final release of your entitled Funds. Yours sincerely, FREDERICK PAUL GONZALEZ CHAIRMAN; United Nations Financial Authority. WASHINGTON DC, USA. speaking at U.N. Meeting On Your Transfer.

Life is so fragile... FB of Dennis Ng

Investment tips - from the Red Cross Lim Tern Poh's experiences and observations in his daily life give him investment ideas. Wed, Oct 26, 2011 The Business Times By Dolly Chia A GOOD book can stir the heart. For 23-year-old Lim Tern Poh, reading The Automatic Millionaire by David Bach was all he needed to kick-start his investing career. When he was 17, the book revealed to him the world of mutual funds, which became his first investment. Dollardex.com was his gateway to the investment society. Subsequently, he started diversifying his portfolio by going into equities. Every dollar in his portfolio came from his own savings from his part- time job. The money-savvy college student won the Money SENSible Youth Award presented by the Monetary Authority of Singapore (MAS) during his sophomore year in Republic Polytechnic. Currently embarking on his second year in finance at Singapore Management University (SMU), he hopes to enter private banking upon graduation, while growing his portfolio 10-20 per cent. Q: What do you currently invest in? A: I invest primarily in mutual funds that focus on Singapore, such as Aberdeen Singapore Equities, and equities in general. I also hold StarHub and Sheng Siong stocks right now. My most recent purchase was SMRT stock. As Peter Lynch said: 'Investors can beat the market by using common sense and information available to all of us as we go about our day-to-day lives.' You see the trains getting more crowded now, and with the new second line, I'm sure SMRT will have higher future profits. Q: What was your best investment? A: My best investment was in StarHub. I hold some StarHub shares and I'm quite happy with it. I gained about 10-20 per cent from investing in its stocks. I am still holding them right now. Q: And your worst investment? A: My worst would be a unit trust because back then during the 2009 financial crisis I think I sold off too early; I didn't hold on long enough. That's why I think I made quite a loss in the unit trust which I initially bought when I was 17 or 18. I invested in it for 2-3 years back then. If I had held on to it longer, I would've gotten much more. Q: What is your investment strategy? A: My investment strategy depends on a lot of factors. For example, through your daily lives, you can observe what are the better companies. By observing that trains are getting more crowded, it might be a good time to buy SMRT now. Q: What are your plans after graduation? A: I plan to work in a bank, maybe on the investment side, but now it's still tentative because it depends on whether I would still have the interest when I graduate. Now I'm still exploring other alternatives. Perhaps other than banking, I could go into sales in the front office of the banking operations. Q: Do you have an investment strategy? A: Take on calculated risks so that when you invest, you don't take on too much or too little risk. It is based on my individual judgement. I can't put it in words. It is subject to a lot of things like market conditions, personal opinions of the market and other things. I believe in Warren Buffet in 'buying low, selling high', so I look for stocks that have low P/E ratios. On top of that, I also look at the fundamental analysis as it teaches you what is a good company to buy while TA (technical analysis) tells you when is a good time to buy. Q: Do you have any valuable lessons to share? A: When it comes to investing, what I learn from textbooks is not enough. I am a member of the Red Cross disaster management committee. So you're taught how to manage a disaster when it happens, so from there I learn more about risk management. When a disaster happens, you're taught how to remain calm and be objective. So I apply those principles in investments and when the market is volatile, I learn to use those principles to keep my emotions under control and be objective. The textbook tells you to be calm and objective during a crisis, but without going through real experience it's hard to apply that. You need to do something outside the textbook to learn about risk management. These are the essential soft skills which will help you in your investments. Q: What other exposure do you have to investment? A: I am actually a part-time financial planner for Manulife Financial now. That's one of the reasons I am considering sales in a bank's front office. I have worked as a financial planner for AXA Life Insurance and met a good mentor who advised me to move to Manulife after six months in AXA. I have been in Manulife for one-and-a-half years now. Q:What do you find so rewarding or fascinating about investing? A: Investing is fascinating because it is not just a test of one's analytical ability; it is also a test of one's emotional stability, foresight, courage and discipline. I cannot think of any other thing that is so intellectually stimulating, challenging and rewarding. This makes investing one of the most exciting things in life that I have ever come across.

The banker and the cabbie - when two worlds collide Banker allegedly stabbed the cabbie over a tussle over cab fare. Mon, Mar 19, 2012 Reuters NEW YORK - At the very moment William Bryan Jennings should have been climbing into bed at his sumptuous Connecticut mansion, the Morgan Stanley head of fixed income for North America was sprinting through back roads a mile away. He was exhausted, scared and - detectives would later allege - had just stabbed a taxi driver in a dispute over a fare. The day, Dec 21, 2011, had started out normally as he left the kind of home - sweeping curved staircase, perfectly plumped chintz pillows, backyard swimming pool and a Ferrari in the garage - that makes many New Yorkers deeply jealous, and headed to the steel-and-glass tower in midtown Manhattan where he directed the firm's bond business. In the afternoon, he hosted a charity auction in the city to benefit sick children. That night, he attended a Morgan Stanley holiday party at the swanky rooftop bar at Ink48 Hotel. When he left the party, he looked for the black town car that was supposed to take him to his US$2.7 million mansion in the wealthy enclave of Darien. He couldn't find the car, so he hailed a yellow cab. In less than two hours, what allegedly began as a tussle over a cab fare, which the taxi driver said was US$204, led to a struggle that could cost Jennings his career. On March 9, Jennings walked quietly into a Stamford courtroom and pleaded not guilty to charges of assault, larceny for not paying the fare and intimidation with racial slurs against Mohamed Helmy Ammar, an American citizen who was born in Egypt. The proceedings took just a few seconds. Jennings, dressed in a navy blazer, white shirt and royal blue patterned tie, left swiftly afterwards, followed by a noisy throng of reporters and photographers. If convicted of all three charges, Jennings could face up to 11 years in prison. First-time offenders rarely face such stiff sentences but the charges are serious, and both Jennings' job and reputation are at stake. Morgan Stanley has already placed him on leave. The firm's spokesman declined to comment, other than to say no decision has been made regarding Jennings' longer-term status at the firm. One top-ranking Morgan Stanley executive, though, said he 'does not stand a chance of getting his job back.' Jennings may also face a civil suit for damages from the taxi driver. Mr Ammar's attorney, Hassan Ahmad, says no settlement discussions are taking place, but his client is talking about such a suit. 'Our client wants justice,' Mr Ahmad said. 'He wants Mr Jennings to be prosecuted to the full extent of the law.' A pre-trial hearing is set for April 12. There are some parallels between this story and Tom Wolfe's 1987 fictional bestseller, The Bonfire of the Vanities, in which bond trader Sherman McCoy and his mistress hit a Bronx high schooler with his Mercedes, then flee the scene. He is eventually tracked down and arrested after a campaign by a newspaper. At first glance, Jennings seems an incarnation of Wolfe's 'Master of the Universe' stereotype. He is in the bond business. His two children attend one of the best private schools around. His home is a set piece for the good life, with sisal carpets, marble floors and state-of-the-art appliances. The backyard boasts a children's paradise of playthings as well as a fire pit and posh entertainment centre. Mr Ammar and his family, in contrast, live in a ground-floor apartment in Astoria, Queens, in the shadow of the Triborough Bridge, a home where Amtrak Acela trains rumble constantly overhead. The most striking thing about their yard is the mass of thick black cables snaking out the windows to satellite dishes on the roof. Rust bleeds from the lime-green vinyl siding. The communal garbage cans are penned within a rusty, two-foot fence beneath his living room window. But while Wall Street's Masters of the Universe certainly still do exist, Jennings apparently wasn't one of them, according to several colleagues. And though at first Ammar was something of a tabloid celebrity, garnering publicity like supporters of Wolfe's hit-and-run character, he's no longer talking to the press. It's hardly the media-fuelled firestorm that erupts in Wolfe's novel.

Since there's a topic what gp doctor drive, lets share what your family financial advisor/insurance agent drive? Mine: S class & prancing horse(ferrari). In the business for 20 yrs & stay around botanical gardens! Wah seh............ So profitable meh? Yours?

currently have abt 10yrs accounting and internal controls experience; possess Accounting degree and spent 4 yrs in Big4. Thinking of making a career switch to a Compliance Managerial position in the financial industry but have no experience in the financial industry. Hence I reckon it will not be easy for me since i do not have qualifying experience and educational background. Do you know of any external courses (maybe duration 1-yr which allows me to attend courses in weekends; as weekdays need to work OT late) that i can take to obtain the relevant educational requirements? And would anyone know what's the typical salary of a Compliance Manager in the financial industry? thanks for the advice in advance

Quote from TODAY 18 Oct 2011 Wall Street loses its immunity AS the Occupy Wall Street movement continues to grow, the response from the movement

hello people there, financial crisis caused a great deal of heartache and headache. Most lost a lot of money and maybe their jobs as well. but i'm sure there are some out there who were able to make it big during such rare opportunities care to share your experiences so that ordinary people like us can learn?

I believe Financial Planning is not uncommon. I believe it's better to get a 2nd opinion on my insurance coverage. But how often is it recommended to do Financial Planning? Anyone facing the same dilemma as me?

Yahoo News Dream wedding loan boomerangs into financial nightmare for accountant By News Desk in Johor Baru/The Star | ANN

wonder if anyone posted this documentary by sony pictures before. worth taking an hour of your time to understand wat happen behind scene and who r the ones involved. btw, this movie also have PM LHL inside.

For the benefit of those who does not have access to financial analysis reports please do add if you do have any thank you 2nd May 2011 Produced by: The Royal Bank of Scotland Asia Securities (Singapore) Pte Limited DBS Group Holdings Raising estimates post strong 1Q We raise our FY11-13F earnings by 9.4% and our target price to S$18 after the group's solid 1Q11 results. In particular, we highlight a continuation of the solid core revenue trends of the previous quarter, and improved guidance on margins and expense growth. DBS is our top pick of the Singapore banks we cover. Valuation and risks to target price DBS Group Holdings (RIC: DBSM.SI, Rec: Buy, CP: S$14.98, TP: S$18.00): Key downside risks to our GGM-based target price: 1) Key to our case is that Sibor rises. If this does not happen, net interest margins and earnings are likely to disappoint. 2) DBS has embarked on a comprehensive restructuring programme. As with all restructuring programmes, the risk is that the plans fail, thereby damaging the bank's franchise; and 3) DBS could make a large acquisition, prompting a right issue, which could be dilutive for existing shareholders and ultimately value destructive.