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Personally I feel it is best to take responsibility for your own investment. Nobody is going to care or worry more about your money than yourself. Self education and making a personal effort to learn to invest should be the way. Thus I have never believed in unit trust etc etc. Sure there are pitfalls along the way. Perseverence is one of the key things.
I got to agree with wahzaiguan, he pointed out correctly by telling you to purchase the currency when it is at its low. We shouldn't contemplate and guess when or will it drop further, because sooner or later the NZ will make its way up.
Cheers
pikachu ( Date: 31-Oct-2008 17:29) Posted:
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My personal experience. I quit subscribing to all AIA after my insurance polices matured, collect my $$$ n put it in stocks...losses alot, still got a few cents left in value, at least it is not, unlike DBS notes and or Lehman...It worthless, not even 1cent worth, depending on RM to make $$$. I rather depend on myself.
pikachu ( Date: 31-Oct-2008 14:30) Posted:
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Cause i see some RM which i know partying at MOS and Zouk, purging on drinks with the fat commision made from selling credit derivative. I jealousy mah.
iPunter ( Date: 31-Oct-2008 23:06) Posted:
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Why blame the small cogs (RMs)?...
A promotion is a promotion is a promotion...
When it comes to aggresive promotion, the whole works is involved...
Furthermore, in a promotion campaign, poor performance by the poor promoters down the line is not welcomed, possibly penalised... 
Anyway, RM getting fired or resign is expected. I mention earlier before. If the sales of new investment product got no demand now how. Keep the RM to pour coffee for the bank customers meh, so expensive waste of bank resources.
Anyway, DBS in my opinion made the wrong move. Should have bite the bulllet by the head. Pay all the affected investor, these will create impression it is a good bank with its clients at heart. A few hundred million expenses, in the long term will be very good for the Bank. More people will trust and put more money and more business. Turn these bad news into good news for the future. Especially with so much free media coverage, any short term loss will be big winners in the future. Too concern about the short term bottom line figure i guess.
No need to spend so much resource into investiaging, paying legal advisor, holding board meeting, printing news for next few months. All these also need money right. And what about all the earlier advertisement place on the bank, the intrinsic value all goes into the drain. Should have spend the effort on how to generate sales again after these incident
Talking about minibond or high note..luckily i did not buy.. i was at the bank to deposit $ to pay for share purchase, and they call me to buy..i talk to them , they did not say it was safe nor did they say the payout was gurantee..they just say it is better than putting in FD..
But i told them i was not looking at a mere few % interest..i am looking at more return than this..so i am depositing the $ to buy share...
It is a case of being too GREEDY that save me from this "turmoil"..very lucky to be greedy..LOL
so bank keep commission?
nickyng ( Date: 31-Oct-2008 14:37) Posted:
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Must have the drive , hardwork , passion and money then can get into these school. Apart from these crisis, they are still running all the large corporation in world.
I rather have a RM giving me advice on finance who is a top brain if i have the resource, rather the free advice from a half pass 6 engineer RM lor. (each person view, please dun feel offended)
Meet afew of these people, they are really good de cannot expect them to change the world. No one can. Greed from the Market cannot be avoid. But if they do give advice can take into consideration, any with nothing to gain i dun see why they will give free advice.
You must be a RM to get so offended? :)
What the RM didn't mention was that NZD was still falling. At that time, NZD was at 1.10. Now it is 0.85 !!!
wahzaiguan ( Date: 31-Oct-2008 16:32) Posted:
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huh. not like the ppl with ivy league degrees are fairing any better. look at all the mess created in wall street by these so-called top brains. Wharton school of business, anyone?
degree doesn't beat real life experience in the end, where the market is concerned.
Some Relationship Manager are monkeys when it come to investing. Deserve the sack, financial knowledge is poorer than me who is a common people. 1 mth training to turn an engineer to a savvy financal expert giving free advice on investment. What kind of logic is that, more like puppets for the bank.
If 1 month training can become financial expert, why spend 4 years in Havard, Yale or LSE studying finance. Even dealer and remisier who only got O-level need to train longer just to punch keys to execute orders in transacting stocks.
The indisputable truth is...
No one knows... absolutely no one... hehehe...
when is LOW ??? then or now or later ?? GODS know ?!?! :P
wahzaiguan ( Date: 31-Oct-2008 16:32) Posted:
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To pikachu
The relationship manager is right.
You should buy NZ when it is low.
You have a lousy story, and it makes you look dumb for posting.
So I rated it poor.
If people want to trust people who take advantage of them, they should take the consequences themselves...
They themselves will have to live with their free choice...
Like everything in life itself, they should be responsible for their own wrong choices...
their affliated bank will pay the pri$ce loh :)
pikachu ( Date: 31-Oct-2008 14:38) Posted:
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What about those who have left the company? Won't they get away scot free?
nickyng ( Date: 31-Oct-2008 14:37) Posted:
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hmm...i read somewhere DBS is firing those RMs for mis-selling Lehman mini notes...firing? hmm..i thot a fair practise will be to confiscate watever commissoned given to them??
My personal experience - wanted to buy FD but was asked to consider NZD fixed deposits. When I say that I think NZD is falling, she just say "then of course its a good time to buy! it is at low price now!"
Anyone else have stories to tell?