Latest Posts By pharoah88
- Supreme
About pharoah88
|
|
| 26-Aug-2010 10:25 |
Others
/
TRADE FREELY & LiVE LONGER
 Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 x 0
 x 0
|
gO MAD gO MAD tradIng gO MAD InvestIng gO MAD lIvIng gO MAD learnIng gO MAD thInkIng gO MAD InnOvatIng gO MAD creatIng gO MAD leadIng gO MAD fOllOwIng gO MAD fOr Oneself gO MAD fOr Others |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 26-Aug-2010 10:18 |
YZJ Shipbldg SGD
/
Cruising with the ship ..Yangzijiang
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
what is the UNderlying Cause for it to thrash ? it has all the good news ? it is BEST performer in its sector ?
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 26-Aug-2010 10:11 |
Genting Sing
/
GenSp starts to move up again
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
SAGE ENLIGHTENMENT |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 26-Aug-2010 10:10 |
Genting Sing
/
GenSp starts to move up again
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
SAGE ENLIGHENMENT
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 26-Aug-2010 10:07 |
Genting Sing
/
GenSp starts to move up again
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
whether lOng Or shOrt S$1.48 was the BEST tIme tO get In iF hesItatIng, S$1.52 shOuld be the decIsIve prIce
As InvestOr it is necessary to thInk lOng term nObOdy can bUy at lOwest prIce and sell at hIghest prIce rIdIng vOlatIlIty Is a necessIty In Investment nO smOOth UPTREND ALL THE WAY
In fact, IndecIsIveness Is the maIn cause Of lOss Or mIsOppOrtunIty In prOfIt.
wrIte an actIOn plan and act accordIngly
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 26-Aug-2010 09:58 |
Genting Sing
/
GenSp starts to move up again
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
i used COPY and PASTE but the PASTE is BLANK ?
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 26-Aug-2010 09:55 |
PacShipTr US$
/
PST
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
my understanding: COST = Full Purchase Price Carrying Value [CV] = Book Cost net of Depreciation Valuation = Official Assessment Value In Use [VIU] = portion of Carrying Value utilised under CHARTER; i call it Productive Carrying Value [PCV], which is Carrying Value [CV] LESS Idle Carrying Value [ICV].
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 26-Aug-2010 09:39 |
Genting Sing
/
GenSp starts to move up again
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
Thanks hOw to copy the SUMMARY TABLE like you did ?
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 26-Aug-2010 09:32 |
Genting HK USD
/
Genting HK US$
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
Thursday: 26 AUGUST 2010 prIce actIOn 09:26:29 USD0.305 1,000,000 B f S 09:00:19 USD0.305 1,000,000 B f S accUmUlatIOn cOntInUes @ USD0.305 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 26-Aug-2010 09:26 |
Oceanus
/
OCEANUS is 'a potential takeover target'?
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
Thursday: 26 AUGUST 2010 9:25AM prIce actIOn 08:33:29 S$0.355 14,405,000 MiD SUPPORT DEPTH S$0.350 9,311,000 [5,080,000 B f S] S$0.355 14,405,000 [14,405,000 MiD] TOTAL 24,086,000 [5,450,000 B f S] [14,405,000 MiD] |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 26-Aug-2010 09:14 |
Oceanus
/
OCEANUS is 'a potential takeover target'?
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
* cOrrectIOn * Wednesday: 25 AUGUST 2010 CLOSING
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 26-Aug-2010 09:07 |
Genting HK USD
/
Genting HK US$
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
Thursday: 26 AUGUST 2010 prIce actIOn 09:59:02 USD0.305 1,000,000 B f S |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 25-Aug-2010 21:08 |
User Research/Opinions
/
~~~~ CORPORATE GOVERNANCE ~~~~
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
mOst ImpOrtant FAIRNESS ELEMENTS: 1. BAN CAVEAT EMPTOR CLAUSE 2. BAN fIne prInts In ALL legal dOcuments 3. cOmpulsOry CAVEAT VENDOR CLAUSE 4. cOmpulsOry VENDOR SALE INTEGRITY AFFIDAVIT 5. cOmpulsOry VENDOR TRUTH, FALSE and RISK DECLARATION 6. cOmpulsOry 100% mOney back GUARANTEE
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 25-Aug-2010 20:59 |
User Research/Opinions
/
~~~~ CORPORATE GOVERNANCE ~~~~
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
The six financial institutions have publicly pledged their commitment to implement measures to deliver fair dealing outcomes to customers. These include stepping up staff training and supervision and enhancing the policies and procedures on their sales and advisory processes. They are also taking steps to incorporate the proposals in MAS’ Consultation Paper on Regulatory Regime for Listed and Unlisted Investment Products issued in January. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 25-Aug-2010 20:54 |
User Research/Opinions
/
~~~~ CORPORATE GOVERNANCE ~~~~
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
MAS lifts notes ban on six institutions Julie Quek juliequek@mediacorp.com.sg SINGAPORE In a statement, the MAS said the financial institutions — CIMB Securities, DMG and Partners Securities, Kim Eng Securities, OCBC Securities, UOB Kay Hian and Phillip Securities — had made efforts to rectify their weaknesses identified in its investigation. The six are among 10 institutions that were barred by the MAS from selling structured products in July last year amid a public outcry over losses in minibonds amounting to hundreds of millions of dollars. Following the Lehman fiasco in 2008, the MAS conducted a seven month investigation into the sale and marketing of investment products by financial institutions. It found specific failings by the institutions, including the failure to ensure that their financial advisory representatives were properly trained before they marketed and sold the products. Some financial institutions had also assigned risk ratings to the products that were inconsistent with risk warnings stated in the prospectus and pricing statement, the regulator noted. Last February, MAS lifted a similar ban on DBS Bank, Maybank and the Royal Bank of Scotland. Hong Leong Finance, which was slapped with the most severe ban of two years, has voluntarily opted out on the provision of new financial advisory services and the selling of structured products. On the lifting of the ban, the MAS said yesterday the financial institutions had reviewed and strengthened their internal processes and procedures for the provision of financial advisory services across all investment products. It said the appointed external parties had completed their review and were satisfied with the action plans and their implementation by the financial institutions. “We have no immediate plans to issue structured notes but will certainly assess the market and risk appetites before we make a decision,” said Ms Carol Fong, chief executive officer of CIMB Securities, Singapore. She added that the brokerage firm had enhanced its policies and procedures to comply with the authority’s recommendations, including documenting staff attendance at training and understanding the risk appetites of clients. OCBC Securities also said that it had reviewed and enhanced its sales and distribution processes to strengthen its internal framework and offer the appropriate products and services to customers. The six financial institutions have publicly pledged their commitment to implement measures to deliver fair dealing outcomes to customers. These include stepping up staff training and supervision and enhancing the policies and procedures on their sales and advisory processes. They are also taking steps to incorporate the proposals in MAS’ Consultation Paper on Regulatory Regime for Listed and Unlisted Investment Products issued in January. Despite the lifting of the ban, analysts said the sale of structured notes was unlikely to pick up. Mr Wong Sui Jau, general manager at Fundsupermart.com, said: “I think investors are still a little weary. As a result, it may take a while before the demand or popularity of structured products goes back to what they were like pre-Lehman.” However, Mr Wong expects financial institutions here to roll out new structured products in two to three years, saying such products are still an important business model for banks.
I think investors are still a little weary. As a result, it may take a while before the demand or popularity of structured products goes back to what they were like pre-Lehman. Fundsupermart.com general manager Wong Sui Jau |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 25-Aug-2010 20:45 |
User Research/Opinions
/
~~~~ CORPORATE GOVERNANCE ~~~~
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
‘Doing the right thing’ isn’t so simple How should Singapore companies do business in countries where corruption is the norm?
Each year, the international non governmental organisation, Transparency International, publishes the Corruption Perceptions Index (CPI), which measures the levels of public sector corruption around the world. It also publishes a map of the world which is coloured according to the levels of corruption. In previous years, this map was colour coded such that the darker the shade of red, the higher the level of corruption indicated. Countries with low levels of corruption were represented by shades of yellow. The most striking thing about the map was how much of the world was in different shades of red and therefore, had relatively high levels of corruption as measured by the CPI. The other striking thing was that Singapore was actually a little yellow dot surrounded by masses of red. On these old maps, we were not the little red dot that we are often referred to as. We were a little yellow dot — and that’s good. Last year, Singapore ranked joint third with Sweden out of 180 countries on the CPI. It is actually quite remarkable that Singapore has managed to stay “yellow” when it is surrounded by “red” countries. It is very easy to do what others do especially when we are so small. For this, the Government deserves credit for a low tolerance towards corruption here. Institutions such as the Corrupt Practices Investigation Bureau (CPIB) and the Auditor-General’s Office have all contributed to ensuring that we have one of the cleanest public sectors in the world. The level of private sector corruption here is relatively low too. However, as our government-linked companies and small-to-medium enterprises increasingly venture overseas into “red” countries, the issue they must all face is how to do business in countries where corruption is the norm. While we may be able to continue to manage our corruption at home, the behaviour of our companies overseas can ultimately damage our reputation as being one of the cleanest countries in the world. Over time, this may also creep into business practices in Singapore and destroy our hard-earned reputation. At an anti-corruption conference here last year, a participant asked our Minister for Law this question: How would Singapore maintain its high standards of integrity and ethics in light of our open immigration policy? I thought the minister’s answer was honest and perceptive. The gist of what he said was this: Singaporeans are not inherently more honest than our neighbours because we come from the same roots. However, our strict rules against corruption and strong enforcement keep everyone honest — and will also keep our immigrants honest. As this great nation of ours turns 45 and we celebrate the progress we have made, we should do some soul searching and ask ourselves this: What will become of us in 10 or 20 years’ time?WILLING TO BRIBE ABROAD During the panel discussion, I asked one of the panellists the corollary to that question: If Singaporeans are not inherently more honest and it is our strict rules and enforcement here that keep us honest, does this not mean that when our companies venture abroad and the rules and enforcement are less strict, they will pay bribes like others? Transparency International produces another index, called the Bribe Payers Index, which measures the propensity of firms from leading export economies to bribe abroad. On this index, Singapore is ranked joint ninth out of 22 countries. This suggests that our while our internal corruption is low, our firms appear more willing to pay bribes when they do business abroad. When we look at the masses of “red” around us, this should not surprise us. I have spoken to a number of businessmen and I can see the constant struggles they face in trying to “do the right thing” and also trying to survive and grow the business. One businessman talked about having to add a 10-per-cent “facilitation” fee when bidding for public sector projects in a neighbouring country. Another said that he uses third parties so that he is not directly involved in paying bribes. The anecdotal evidence supports the data that corruption in some form by our companies operating overseas is not as uncommon as we would like to believe. There may also be differences between how our laws define corruption and what our businessmen perceive as corruption. Take the example of companies paying the media in some countries to cover their events — a not uncommon practice in countries like China and Vietnam. If payment is not made, the media will not cover the events. Some companies use third parties to do so, and many probably do not see this as corruption. Yet, I have been told by a senior regulator that paying the media is a form of corruption. I think we are faced with a difficult dilemma of sustaining growth while maintaining our pristine reputation. I hope that we will look into the challenges faced by our businesses in doing the right thing and making money at the same time. Just telling them “not to do it” may not be a helpful answer. They need to have a better understanding of how to manage corruption risks when they venture abroad because if we lose our hard-earned reputation as we regionalise and globalise, we may never get it back. This may cause us great harm in the long term as global companies are increasingly concerned about the impact of corruption risks in overseas countries on their legal liability and reputation. It is troubling to think we might truly turn into a little red dot. The writer is an associate professor at the NUS Business School. He serves on the boards of two large charities in Singapore and is a member of the Charity Council. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 25-Aug-2010 19:49 |
User Research/Opinions
/
~~~~ CORPORATE GOVERNANCE ~~~~
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
Sometimes, you need to ditch the rulebook Richard Branson
Lee Boss of Kenya asked: “How far should you go to please a client? At some point, there’s a risk of compromising your business. How do you keep customers happy without getting hurt in the process?” Prisca Were of Kenya asked: “Must a company be governed by internal written rules and regulations?” An organisation must establish a clear framework employees can refer to when carrying out their duties, and that framework will involve written procedures and rules — particularly when cash and accounting are at issue. That said, however, sometimes rules really are made to be broken: The rulebook should not become an excuse for poor customer service or an obstacle to great service. Almost everyone has at some point experienced a situation where a customer service representative has blamed the rules for his inability to help. If your company is going to stand out from the rest due to its truly excellent customer service, staffers should treat the rules more as flexible guidelines, to be followed as the situation demands. The customer is not always right — and neither is the rulebook. The customer service representative’s goal should be to strike a balance that serves both the customer’s and company’s interests in the best way possible. To a great extent, this can be achieved by empowering the staff at call centres, on planes and trains or in retail environments to use their common sense when handling questions and problems. Encouraging a good attitude towards problem-solving is crucial but so is a corporate culture that rewards initiative and does not discourage a creative approach. One customer service mantra that I have always loved is: “First to know, first to handle”. In other words, when a problem arises, there is a fleeting opportunity to solve it on the spot. Resolving problems this way has multiple benefits for both the customer and the company. For the customer, the advantages are obvious: The problem is solved, or at least alleviated. And for the company there is an obvious public-relations benefit: The customer is likely to tell other people how well the situation was handled. There are also significant cost benefits — for example, a reduction in the number of back-office customer relations staffers required to handle a formerly lengthy back-and-forth process for resolving customer complaints. At Virgin, a few senior managers and I host an annual “Stars Dinner” recognising top performers — staff members who have been nominated by their peers — and celebrating their achievements. We look for the best examples of customer service, innovation, community service and environmental work. This sort of event demonstrates to employees that you care about them and that you notice and appreciate their hard work and initiative. In the world of customer service, nice words from a supervisor are relatively easy to come by; the real proof is in positive feedback from customers. That’s when you know the right kind of culture is taking hold. I was particularly pleased by a note I received recently from Phil Williamson, a Virgin customer in Kenya, who wrote to me about a trip to London he’d booked with his wife. Shortly before the trip, Phil’s wife was travelling for business and was able to meet Phil in London using a plane ticket she’d received from a client. So they put her original ticket aside to use another time but, later, when they tried to book a new flight using that ticket, they found that it had expired because they had not paid a change fee. Hawa, a Virgin representative based in Kenya, explained the Williamsons’ situation to an accountant, who evidently told her that rules are rules, and that the airline would not make an exception. In the end, Hawa appealed to another supervisor, the ticket was refunded and a new one was purchased. “All’s well that ends well,” Phil told me. “But wouldn’t it have been so much better if the accountant had displayed a little more general business sense instead of sticking to his strict interpretation (of the rules)?” Phil’s story aptly demonstrates how close organisations come to losing customers every day, due to rigid adherence to rules and not enough thought on the part of those supervising front-line employees. Keep in mind this classic statistic: An unhappy customer will tell 10 people about a problem, while a satisfied customer will only tell four people about a good experience. So, work on developing a corporate culture that tries to “catch employees doing something right” and rewards dedication and initiative. Looking after your staff is the best way to look after your customers and keep them coming back for more. My recent column on the importance of establishing an ethos of strong customer service that extends all the way from the CEO’s office to the front lines touched a nerve for some readers.© 2010 Richard Branson (Distributed by The New York Times Syndicate) The writer is the founder of the Virgin Group and companies such as Virgin Atlantic, Virgin America, Virgin Mobile and Virgin Active. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 25-Aug-2010 19:30 |
Straits Times Index
/
STI to cross 3000 boosted by long-term investors
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
The market report card Economic forecasts seem to suggest better prospects for 2011. The International Monetary Fund (IMF) upgraded its 2010 global GDP growth forecast to 4.6 per cent recently, citing robust growth in Asia and renewed private demand in America. Growth is projected at 4.3 per cent for next year. The Ministry of Trade and Industry (MTI) for Singapore had also raised its economic forecast three times this year, with the official growth for 2010 projected at 13 to15 per cent. The upbeat projections may bode well for companies that are proxies to the recovery, but market attention is still centred on corporate earnings. While the second quarter earnings report card showed good earnings growth, the momentum appears to be slowing, and may signal slower earnings in the third and fourth quarters. The outlook for the rest of the world also appears mixed, with expectations of a slower second half. Recent American economic data showed the recovery pace has slowed. The UBS AG index showed global forecasts falling short in July, making June and July the worst two-month period since the 2008 recession. Meanwhile, developed economies are cautious about raising interest rates from record lows amid concern that the global recovery will falter.While the Straits Times Index (STI) managed to cross the 3,000 mark recently, it has since slipped below again. It needs to stay above the closely-watched 3,000 mark for the uptrend to continue.
Good corporate earnings is crucial to take the STI above 3,000 points but as corporations get cautiously optimistic on the prospects, it could rein in the upside momentum for now.
Similarly, the risks on the downside are also fairly limited as valuations are not demanding at current levels. For example, the STI is currently trading at only 14.2 times of this year’s earnings and 13 times of next year’s earnings. The S&P 500 is only trading at 12.9 times of this year and 11.2 times next year’s earnings. For medium to longer-term exposure, blue chips prices are not expensive and offer decent yield of about 3 per cent.
According to Carmen Lee, head of OCBC research investment, investors can also gain exposure to the STI via StreetTRACKS STI ETF or the DBS Singapore STI ETF. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 25-Aug-2010 19:22 |
Trading Techniques
/
{}{}{}{} Extended Settlement vs Options {}{}{}{}
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
Extended Settlement vs Options ES contracts - Immediate, near 100% hedge (delta = 1.0) - Need not select a strike price - Break even from buy or sell price - Cost of ES is the cash to maintain margin, which forms part of settlement if contract is held to maturity - Greater liquidity and tighter bid/offer spreads are expected Options - Hedge depends on strike price and time to expiry (at the money delta = 0.5) - Must determine a strike price - Break even on call (put) is above (below) the strike price - Cost of options is in the initial premium, which is subject to time decay - Synthetic short of long put and short call (delta = 1.0) involves 2 transactions
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 25-Aug-2010 19:13 |
Trading Techniques
/
{}{}{}{} Extended Settlement vs Options {}{}{}{}
Go to Message
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
x 0
x 0
|
Long extended settlements contracts In a volatile market, investors should look at ways to protect themselves against the uncertainty of the share market and adverse price impact on the value of their assets. To do that, one could bank on Extended Settlement (ES) contracts, which are forward contracts with a 35-day settlement period. ES contracts let investors lock in prices in advance and allow hedgers to reduce their price risk by buying ES contracts to create a long hedge or sell them to create a short hedge. Compared to other derivatives such as options, ES contracts are a better tool for hedgers, as seen in the table below. While investors can use a short ES contract to lock in a higher price in anticipation of short-term slides in share prices, they can also use long ES contracts to hedge on an anticipated rise in the price of shares they are eyeing. Through a long hedge, investors can protect themselves against a rise in the price of shares and lock in the “purchase” price of the underlying shares before paying for it. For example, ABC shares are trading at $3 on Sept 1, 2010, and the Sept contract of ABC ES is trading at $3.01. An investor, who has been planning to add 10,000 ABC shares to his portfolio, may feel ABC shares is slightly undervalued and is a good investment at this level. However, his funds may not be available immediately and he wants to lock in the price before it increases. Buying and ES contract (with less cash) will let him take delivery of the share when the contract expires, as his funds become available. He can then buy 10,000 ABC ES contracts at $3.01, at the margin of $1,505. Assuming his funds become available in two weeks, both ABC and ABC ES contracts rise to $3.50. The gain in his ABC ES position would be ($3.50 - $3.01) x 1000 x 10 lots = $4,900. The gain — from his long ES position — is his savings from purchasing the ABC shares early. Hence, ES contracts allow investors to hedge both long, and short, and make the most of fluctuations in share price movements at the same time.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Good Post Bad Post | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| First < Newer 7981-8000 of 13894 Older> Last |