7/22/2010
Desperate situation desperate measures
I am quite confused actually because reports and data provided by the media told of a different story. There were glowing reports that everything is getting betterer. So if I called it desperate measure for a desperate situation is probably wrong.
The stock market is doing roaring business with trading volume at all time high and derivatives and all kinds of American gimmicks gaining more acceptance by the market. So business must be good and so is income, especially those of remisiers.
SGX has just announced that it is planning to scrap the lunch break so that trading can be continuous. The extended training hours, 90 min, would allow more tradings to be done and also capture the swings of other markets. The immediate rewards for cancelling the lunch break is that traders can trade more and remisiers can earn more commissions. Maybe for giving up 90 min of lunch break a remisier may earn another $16. That should take care of breakfast, lunch and dinner plus transport fares. Not bad at all.
I think this is the most brilliant idea that I have come across in my entire working life. To extend the logic to other areas, imagine if our ministers and MPs work continuously through lunch, no lunch breaks, our economy could grow by another 10% at least.
Some may call this idea idiotic, but this is just a matter of perception. And maybe those who are laughing at this silly idea do not have the talent to appreciate what it means. I won't call this idea brilliant either. I think it is simply ingenious, and the person coming out with such an idea is a genius.
And as National Day is around the corner, we shall award this genius with a National Day Award. We can call it the Uniquely Singapore Genius Award.
The only betterest idea that can beat this ingenious idea is non stop trading, 24/7. Only an exceptional genius like me can think of it. Then we can ride the highs and lows of all the markets around the world. And if any investor has a dream of a stock running up, they can wake up immediately to call the remisier to place an order. And those insomniacs can call remisiers at 3am in the morning for a chat. This will be the added service that remisiers can provide when trading is 24/7. Great stuff.
For the time being, just go with the no lunch break. All the struggling remisiers would fully support it. Then we can give notice to the restaurants and shops in Raffles Place not to open for lunch.
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6 comments:
There is a Hokkien(Chinese Dialect) 'ai sui mai mia' meaning for the vainess of beauty, some will put their live at risks.
In the case of nil break for stock tradings, it' 'ai lui mai mia' meaning for the sake of money(greed), health and hence life can be put aside. How far should one goes in pursuit of money?
And then there is the online tradings.
Btw, $16 for 90 minutes work is quite good, 90 minutes get me only $6. Redbean; You are very lucky.
patriot
I don't think any remisier would want to risk their health for a few dollars. This lunch break thing is the most silly thing to come about. But it will be a reality soon.
SIAS has already given its support. An edict will soon be issued and all will be peaceful under heaven.
They are quoting the western model as an authority. They did not want to know what Obama is going to do to the western model and the tight regulations to protect the interests of investors and to provide a fair trading system for all.
While Obama is tying the hands of the destructive fund managers and their unfair practices, we may be welcoming them with open arms.
There are more remisers than are necessary. Hence the SGX can, and has in this instance, called the shots.
Obviously no one ever proposed staggered lunch breaks. Nearly every other office has this policy -- it is not rocket science.
Humans beings get their energy from food, ergo they have to eat simply for energy requirements. Has any one in SGX's management passed basic primary school science?
Staggered lunch breaks are applicable to a group performing the same duties to unspecific clients.
The remisier business is a sole proprietor serving their own clients. There are a lot of sensitivities in the relationship and it is not that anyone can just cover while the other is not around.
But the key issue is not whether it is 8 hr or 24 hr of trading which some jokers think is directly proportional to the number of trades. The real problems lie in the flawed system which have killed many investors and traders. And they turned a blind eye to it.
Obama saw and understood the real problems and are taking them out from the system. I am hoping that the Americans may take a class act against the SEC for providing an unfair system that is loaded against the small investors.
It is the duty of SEC to provide a fair and transparent system for all investors. Not only that an unfair system is legally wrong, it also kills the system when one side wins and the other side loses all the time.
"It is the duty of SEC to provide a fair and transparent system for all investors. Not only that an unfair system is legally wrong, it also kills the system when one side wins and the other side loses all the time.
July 23, 2010 8:36 AM
Post a Comment". Unquote.
It is the DUTY OF EVERY GOVERNMENT THAT IT RUNS A FAIR AND JUST SOCIETY(NATION).
How many such society exist and how is the SIN Government doing its' duty???
patriot
I wasn't aware that remisers were sole-proprietor.
OK, it makes sense now.
I don't see the problem. Those who want to trade like mad demons -- go ahead. Those who want to get lunch and do a quick trip 'round the corner to Chinatown for a Hotel 81 relac-session, go ahead.
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