2/06/2015

SGX versus Remisiers – Who is the referee?


The Stock Market is collapsing, the industry is dying, remisiers are resigning and leaving, business has fallen to an intolerable level that some remisiers are earning less than a cleaner. On the other corner, the Stork Market is doing well, and improving, getting betterer, more trades, more volumes, more participants, more products, in the pink of health. Many measures and improvements have been introduced by the SGX and everything is fine.
 

Obviously one is lying through the skin of his teeth. Which one? Who is to judge and call the bluff? The facts cannot lie and it does not need a rocket scientist to know the truth. But no one is saying anything, or have they said and concluded that everything is fine?
 

This is like two guys inside a lift. One farted, and both got into a heated argument on who farted. Sure, between the two of them they jolly well knew who farted. But the outsiders looking from the outside would not know who the liar was. But if one has a vested interested in the argument, one could side with the side that favours him. A neutral party would or could easily prove who the farter was by smelling their pants.
Guess the verdict? Would the real farter stand up or be asked to own up? Is it so difficult to know the answer? Would the referee still be thinking, thinking hard or would he be assuming that everything is fine? No thinking needed?
 

Maybe it is better to set up a committee to look into it, a board of inquiry, ya?

17 comments:

Anonymous said...

Is it fair to say that right now PAP's LHL government is a case of boh cheng hu?

Anonymous said...

Sir, is it due to computerised HFT?

Anonymous said...

Would the referee still be thinking, thinking hard or would he be assuming that everything is fine?
RB

If I were LHL, I wlll just watch Teochew Ah Hia and party. If they are still kaki lang(aka fine), then everything is fine, including the remisiers, the stock market or even if lawyer Ravi contest AMK GRC.

Anonymous said...

"Is it fair to say that right now PAP's LHL government is a case of boh cheng hu?"
Anon 12:17 pm

If u have to pay and pay (PAP), then there is cheng hu.

But some Aljunied residents won't pay (WP) their sc and cc charges to their Town Council. Then this is a case of bo cheng hu. Or the cheng hu not ready to be cheng hu.

patriot said...

Is the Remisiers' Problems the Problem of the Stock Market?

If it is not, then it is just the Remisiers Problem as the Stock Exchange itself is fine mah.

You die, your problem. Anyway, if Phd Holders and Senior Executives can drive taxi and be security guard, why not remisier. Still make more than toilet and table cleaner.

patriot

Anonymous said...

I think the stock market is fine. It's the remisers that are dying cause there are no more retial investors but the stock market is still making decent profit.so there is no issue even some parties are not doinfpg well. The govt will be concerned if sgx is not making money but as long as it does, it does not matter where they make the money from and if none from remisers and the retail investors then so be it.

Anonymous said...

Redbean,
You have to grow up lah. The bulk of the active traders are young and gung ho investors. They have access to the internet, IPhone, Samsung and tablets. They can get all the information there. Analysts reports come free into their email. They can trade online easily and cheaper than calling a stockbroker. Moreover who wants to talk to old grumpy uncle like you ? Exacerbated by the fact that you have been mixing with the wrong (losing) company.
If SGX say they are doing well, and you are not doing well, then how ? Who is right ? The devil is in the details. Surely they got reason why they dare to say they are doing well, right?

Anonymous said...

Surely they got reason why they dare to say they are doing well, right?
Anon 1:41 pm

Tiok. And I believe for the same reasons PAP will be doing well next GE, although losers like RB and others may say otherwise and also say it wrong.

The said...

RB, Don't know where to plonk this, but it is a good read and you may want to reproduce it here as a separate topic.

http://www.vanityfair.com/news/2015/01/china-worlds-largest-economy

b said...

The stock market is just like a casino. Some casinos do better than others. Everyone likes to flock to casinos with big big fish.

Chua Chin Leng aka redbean said...

Hi The, the reality of China as Number One is very difficult to swallow by the West. Many still do not believe this.

China as Number One is here to stay. It's impact on the world will be felt more in the next decade and forward.

Pax America is proving to be a short rein and will be eclipsed by Pax Sinica very soon.

The said...

RB, at least the author JOSEPH E. STIGLITZ got most of the facts and analysis right. And he's given the US some very good advice and recommendation. Just that Obama is guided, or rather misguided by them hawks.

Chua Chin Leng aka redbean said...

Both Obama and Abe are in cahoot to contain China with Abe turning into a new Asian Hitler in the making.

Matilah_Singapura said...

@ redbean:

Uncle, it's structural changes lah. Not only in the finance industries but economy-wide.

Stuff that can be done by algorithms and machines will be done cheaper and faster and the humans previously employed for such tasks will be looking for other jobs. CREATIVE DESTRUCTION---the capitalistic financial sector is not immune to this fascinating aspect of capitalism.

So where do the humans go? Up the VALUE chain, that's where. So the best in the business quit as remisers and go into PRIVATE WEALTH, where they'll potentially earn similar or more by looking after wealthy clients by personalised and customised service and products. i.e. they "add value" to the relationship of individual wealthy clients by offering things like tax and trust structures, fancy private funding opportunities, etc. Specifically high value SERVICE oriented.

On creative destruction: Freakonomics: How Safe Is Your Job?

For e.g. Amazon dot com (your sponsor) is now the world's super store, and mega-super book store. One Amazon books website/ virtual store took down 1200 Barnes and Nobel real-world stores.

A very talented programmer Malaysian friend of mine wrote one of the first packages for the banks. When implemented 22,000 people in banking lost their jobs. Bank stocks soared and profits grew reaping nice dividends for shareholders.

You notice how the company's stock price rises every time they "restructure", implement technology and reduce their human labour force? The people at the top: CEO, CFO, Chairman plus the BoDirectors all reap BONUSES and shareholders reap dividends or stock splits, but the wage-slaves get tossed out like a used condom in a fuck-shop.

No one's job is safe lah. Once you get used to that and are OK with it, you'll be at peace, and able to enjoy all the benefits of a place like Hotel Singapore :-)

Anonymous said...

If the referee does not know how to tell who is telling the truth: SGX or remisres .... then the referee is 1,000 times confirmed completely useless.

rats
riots
strikes
mrt breakdowns
etc
how much more proof does 60% need?

Chua Chin Leng aka redbean said...

Matilah, don't be an idiot and kept talking about things you did not know. A crime has been committed but the criminals are in charge and running the show. So there is no crime.

You get the picture? Let me make it simpler. If the casino owners were to run the country, they would run it like a casino and everything is legal. If a loan shark or mafia were to run the country, everything would also be legal.

Go and understand what is going on then come and talk about it. But no one is going to tell you the truth. Not the casino owners, the loan shark or the mafia. You need to use the little intelligence you have, if there is any, to think through. Yes, you need to think and talk less.

Matilah_Singapura said...

@ paranoid RB:

Please lah, despite its problems, the SGX is one of the most regulated and cautiously watch enterprises around. They are also highly "networked" with partnerships all over the place CBOT, Chi-X, Bombay bourse etc. Please lah, this is a business many of us would gladly own if we could.

If the SGX fails, Singapore dies. Just because there are people leaving, or others talking shit doesn't mean a damn thing lah, except that maybe they're not making as much as they would like, and so the bad mouthing attempts to go "viral".

So they had a power outage. So what? It's not that it happens everyday lah.

Anyway, when there is lots of money involved, there probably some level of deception going on. So back to the truism: You Can't Cheat An Honest Man.

If you're skeptical, and you obviously are, is there some "nonsense" going on? Probably. Can the bourse function anyway? Of course. It's functioning right now

You want to live in a world where no one "cheats" and no one pursues their own selfish interest---especially when money is involved?

Great, good for you lah :-)

P.S. I have no problem with casino owners running the cuntree. Like I said, gambling is a TAX on the mathematically INEPT---those who wold lose their money through gambling, deserve to.

As long as The Hotel is awesome and keeps rocking, I could care less on who the fuck is running the show...so long as it remains a GOOD show.

WTF is the matter with you lah? Everything also you want "truth" or "transparency". Lies and deception form the SOCIAL GLUE which keeps societies together. It keeps govt and businesses functioning. We are an EMOTIONAL species, and also a SOCIAL species. Thus there will always be deception and lying in order to "keep the peace" and stabilise society.

Relac lah, uptight apek! :-)