7/24/2010
Do we need million dollar FTs?
Do we need to employ multimillion dollar FTs to tell us that if we don't take lunch break our productivity will go up by 10%? You pay me half of that and I will raise productivity by 40%... by extending trading hours by 4 more hours. How about that?
And all our workers need just add another 2 hours of work and our economy could grow by another 10%. And Swee Say please don't worry about quality of work life. No need to talk about CBF. Just work 24 hours better still, more productivity.
What is the problem with the stock market that such a desperate measure is even thinkable? Is the market doing roaring business? Running out of ideas or didn't know the real problems facing the market?
Why are so many retail investors losing their pants and losing faith in the market, and no longer in the market?
Is the market fair to small traders, a level playing field for all investors?
Are there parties that are having extra advantage and wiping out the small investors?
Are the hedge funds and big funds operating like trawlers, scoping up everything and destroying the market in the process?
I don't believe that none of the supertalents knows what is really wrong with the market. I also believe that some will know that scraping lunch break is a silly idea and would not do any real good to the market if the flaws in the market are not removed.
If they don't have any idea, just ask Obama or see what he is trying to do to save the American stock exchanges.
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4 comments:
We will one morning regret the day we let in FTs by the tens of thousands.
Singaporeans are by and large, orderly and best of all, ignorant beans, and are the easiest to divide, cowed and rule.
FTs are a different kettle of fish, particularly those 'ruthless' Taiwanese and 'shameless' Hong Kongers, who are not be so easily cowed and will not hesitate to fight for their rights.
Unless they are prohibited, it would be an ironic twist of fate if in the years ahead we find new citizens, minted in the Taiwanese and Hong Konger mold, taking up the political cudgel to make demands that Singaporeans fear to make. Or even get elected into Parliament under the opposition banner.
Then we can really see how they are going to find a way to do the fixing.
The SGX is a privately owned, publicly listed entity. It can do whatever it likes because anyone who works there or is there is in a voluntary relationship.
SGX can pay whoever is voluntarily involved anything they like, according to any standard they choose.
Other markets trade already 24 hours a day. So what's the problem?
I must agree with you without exceptions. Our govt privatised hospitals are privately owned. Our public transport companies are privately owned. Our universities are privately owned. And I almost forget, out HDB are privately owned.
Thank god, if not they will failed miserably.
Don't forget! GIC and Temasek are also treated as if privately owned.
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