6/23/2014
Stock broking – Missing the woods for the trees
Jimmy Ho, President of the Society of Remisiers, spoke on the pathetic tales of stockbroking and the signs of doom and dismay. It is a dying industry that nobody wants to know. The Govt, MAS and the SGX are in a state of denial. They are not going to talk about it. Anyone who opens his mouth will have to tell how the industry is growing, more trading activities and a bright future in the horizon.
Jimmy Ho has listed several factors that contributed to the demise of the industry. Unfortunately I have to disagree with him. Yes, those are factors that are bringing down the industry, but they are not the main cause for what is happening today. It is not contra trading, it is not CFD, it is not no lunch break. It is the elephant in the room that no one wants to see or talk about.
The main cause of this near collapse of the stockbroking industry is something very basic, very fundamental. Really, nobody knows what it is? They are all the experts who have been in the business for ages and they cannot be missing the woods for the trees.
But don’t worry, they would not want to know, they would not be telling. They will let it happen, like the Lehman bonds and toxic notes. Then they will all plead ignorance. Dunno leh. No one will be held responsible when the market collapses totally. It is nearly there. It is unbelieveable that no one is crying wolf when the wolf is already in the chicken coop and devouring the last chicken.
This is negligence to the highest order. The market is very healthy and will get better. Don’t worry, the problem is contra trading. Contra trading will be stopped and all will be well. Seriously, trust me.
The truth is that the market has collapsed but no one is admitting. No one wants to be the harbinger of bad news.
Kopi Level - Yellow
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37 comments:
His ideas of cheaper, better & faster, to employ 3 foreign workers then can employ one S'pore not back, can get lot of levies from foreign workers at least $500 per month per worker, to fund their world highest pay, ten times that of the Danish ministers salaries?
The second worst performance in the East Coast GRC, Lim Swee Say?
It might be he got minus votes in the Single Seat contest, his votes were topped in the GRC contest of 54%?
Why don't they reduce their salaries to that level of the Danish govt with similar population, and other expenditure, so that to return the CPF at 55 as promised, these might be the solution?
Find other ways to raise revenue like increase the tourists, increase the export and develop the Small and Medium Enterprise to higher end premium product to get more revenue?
Many of people blood, sweat & tear are in money CPF, 37% per month, which was promised to be return at 55, can restore their trust? They having saving it for 40 years, not like the ministers got so much income and reserves?
Many depend on 55 to get back their CPF to tide over difficult period?
Even in S'porean don't have money, people don't money the govt very thrifty, very feel can qualify very strict can get social welfare only $400 per month, how many can get social welfare?
Those very feel used up their CPF in Bintan, can asked the govt to sustain them, they got to depend on themselves to work as cleaners?
Those less then one percent who spent all their money of course look for job, they will be recommend cleaners, gardeners, security or cab drivers how they can rely on govt to support them like other countries?
Many of the older people sleep on the sleep, collect cardboard, collect cans, clean tables to make end meet?
They should reduce their pay to $300K still 50% percent more, but not 1000 percent more then the Nordic states?
The new party had the capabilities to run a less costly and more efficient govt: http://www.theonlinecitizen.com/2014/05/new-political-party-sfp-made-up-of-mainly-former-civil-servants/
http://www.theonlinecitizen.com/2013/09/three-new-faces-to-the-wps-leadership/
The 3 opposing voices of Tan Cheng Bock, Tan Jee Say and Tan Kin Lian have the capacity to be PM?
With more and better coming to joining the opposition?
Should heed people call, if not they might show it in the ballot boxes, will massive switching to opposition?
Toh Chin Chye said if bank will to delay giving back people fix deposit, there will be a run?
In the Singapore already show half way with many new immigrant access to mobile internet, they already switch side from 2011 GE to 2013 by Elect to 12 percent, mostly likely due to the CPF issues?
Tan Cheng Bock and Catherine Lim wrote the govt need to restore people trust to return people CPF at 55 as promised?
"The truth is that the market has collapsed but no on is admitting."
RB
I don't understand. The STI index is now at 3,263.86! So how can it be collapsed when it is almost the highest ever?
RB, why are u saying something which is anti common sense? Or are u implying there is something about the stock market which is more than meets the eye?
With a small population no resources, only a busy harbour, their highest pay in the world, could have push Singapore to among the most expensive place to live, the only solution is to themselves volunteer reduce the salaries comparable to those countries with similar population of advanced countries, so that not so many indirect taxes push up the inflation and cost of living? So to have a cost effective govt?
When one fails to see one is suffering from cancer, and keeps complaining about cough and colds or mouth ulcers, sure die one.
Emperor Tong Zhi was infected with VD at a time when it was incurable and unmentionable. So the Imperial physicians diagnosed it as measles. The emperor died as expected. No one dares to tell the truth.
Same situation now.
In the era where mobile internet not so advance difficut to raise issues in govt controlled medias?
Now as mobile internet device is more readily available it is easier to raise issues and discuss how to solve it?
People have been working 40 years of indirect taxes, to contribute to your highest pay in the world, ten times those advanced countries with the similar population, now you want people to work another 15 years to continue to contribute to your world highest pay some more, are you OK?
The have been working 40 it is right they get back their CPF at 55 no questions these is their option, unless they want to put their cpf to get higher interest?
People have the right to ask back the cpf how they spend got nothing to do with the govt, theyh spent finish govt give them money to sustain, they got to go back to work as cleaners, even they are lucky to get $400 social welfare, it is a small sum compare to many advance countries given to those on social welfare? Most were given a cleaner or garden job when they are old or jobless?
People have been working 40 years of paying so much indirect taxes, to contribute to your highest pay in the world, ten times those advanced countries with the similar population, now you want people to work another 15 years to continue to contribute to your world highest pay some more, are you OK?
They have been working 40 years it is right they get back their CPF at 55 and enjoy some money and saving for rainy days, no questions these is their options and money, unless they want to put their cpf to get higher interest?
People have the right to ask back the cpf how they spend got nothing to do with the govt, they spent finish, govt give them money to sustain they life, how many spent finish taxpayers pay for their daily expense, they got to go back to work as cleaners, even they are lucky to get $400 social welfare, it is a small sum and very few, compare to many advance countries given to those on social welfare? Most were given a cleaner or garden job when they are old or jobless?
Many of the old people have to sleep in the street, clean table, collect cardboard and tins to survive?
CPF is very impt and sensitive. Without this source of income, what do you think would happen to the govt machinery? When to find the money to pay sky high salaries?
The govt ask other to delay get the CPF give all sort of excuses, continue to work until 70 plus possibly to fund their highest pay in the world?
Why don't they reduce their pay to the reasonable level of around $300K, show by example so that more can get back their CPF at 55 enjoy some of their savings for so many year, take care of their grand children to boost the birthrate?
Now got internet they can check out their counterpart how they perform, no corruption they can live with around $300 income still serve the countries very well?
Not just life on their own world as if people don't know what happen around the world, like the MSM era?
They know how to tell people to work longer, keep the saving for them until 65 and 75, if people got that kind of pay like them, they are very happy, like the old man continue to work yet get very high pay?
Many of the low wages worker pay not very high depend of getting back the savings after 40 years to relax a bit or the rainy days?
"Many of the low wages worker pay not very high depend of getting back the savings after 40 years to relax a bit or the rainy days?"
Anon 1:02 pm
They are richer than u think, and in cash. And some even got cheated of their big amounts of cash.
Read this http://news.asiaone.com/news/crime/two-cheats-jailed-over-440k-evil-spirits-scams
They should seriously consider reduce their pay drastically to that level comparable to the Nordic, around $300K still very decent, return the CPF?
Reduce the indirect tax so to reduce the cost of running business, which in term need lesser foreigners to support their pay structure, other highly advanced countries don't need so many immigrant and and foreigner still doing very well they more depend on their local ingenuity to over all their economical problems produce high quality goods to sell to the world?
Just because a few were cheat doesn't mean all were cheat, if the world run like the logic u give it will be in serious problem, i keep your money u keep my money not allow to spent how the economy going to run if nobody want to spent?
This post by RB is about Stock broking. Yet it receives many comments on CPF and high ministers's pay.
May be they are confused by RB.
In one para, he said the main cause of the demise of our stock broking industry is not contra trading.
Yet in the last para, he contradicts himself and declares the problem to be contra trading and it will be stopped and all will be well.
He asked the readers to trust him seriously! I will! I will! when I finish this bottle of beer.
U mean all spent their money in Bintan or just afew, it can't, even a few spent their money the rest who don't spent have the right to ask back their money as promised, they have been expected to get back their money at 55?
Until LKY dies;
No Millionaire Minister will dare to deviate from the teachings in LKY's books.
I'm just glad I politely declined all the invitations to NatCON and Little India Riot discussions.
The PAP ideology cannot be changed.
The only question is whether Singapore and Singaporeans can survive long enough to see the total collapse of the PAP ideology.
RB you always disagree with people in power. Why lah ?
Like that how to go on? Like will be very miserable. You need to swim with the current, tack with the wind, then you can move forward, move on, and start living life.
Times have changed. Nothing stays static forever. You look at the world's stock indices and volumes, they are all static, one line, volatility has come down. If voli come down, who wants to trade and lose commission? And even if want to trade, who wants to trade through a remisier? Maybe those old folks still do, but most people will trade through internet/mobile which is more convenient and lower charges. The same situation happens all over in the other places, you cannot dictate people trade thru remisiers and close your eyes to internet.
Tio bo ?
Telok Blangah
RB was a previous trader. So he is sentimental about Stock Market.
True time have changed and even the government wants to help, they cannot. Internet trading is really faster and cheaper. Unless traders can provide value add, there is nothing they can do to turn the tide.
RB, relax lah. These peopel will know how to change jobs. For those who stuck there, is their choice.
So the ladies can get back their CPF at 55, they don't go to Bintan to spend on man and ladies are usually thrifty can manage their money well?
keep giving silly excuses reflect the standard of those who run it?
Should give backer reasons for keeping the money?
I am just writing mysingaporenews lah. If I keep saying everything is fine, fine, fine, all of you will run away from boredom.
You want me to say Hsien Loong so handsome, govt so world class, everything so well run, no problem, everyone so rich and happy?
Like I said about the stockmarket, no one is looking at the elephant in the room. You people just confirm that.
The stock market is controlled by that ele-phant which means it is sterile. That ele-phant is competent of destroying any creativity remaining due to being such a control freak. After the passing of that ele-phant, there will be a lot of rooms for actions and the son can even retire, withdraw his cpf, get his lifetime pension, be on multi citizenships, keeping a few mistresses etc. Changing the rules set up by that ele-phant is an insult to that ele-phant while he is still around.
ps: comparing him to the elephant is doing a disservice to the elephant.
Hi b, only the people in the industry know what this elephant is, not what you are referring to.
RB, is it HFT?
Some people squander their money away or got cheated and that give the government the right to protect those people by withholding everyone's Retirement Funds; but only Fascists think that way!
Soi Chik:
June 23, 2014 at 5:23 pm (Quote)
without finish my primary six .I can earn decent living with service job that pay me decent income and still contribute to CPF.
I am near 50 I apply for PR with my experience and got my approval some month ago. Hesitating to move but after visit Australia and met a number of freinds there I am ready to move my family as the work getting longer hours and does not pay well as foreign contractor are under cutting their price for their boss.
Thanks to my new offer and opportunity as I hope to earn bettter and have quality time with my children and allow them to experience school in foreign land.The fees is free as we are treated as local.
I am amaze of what I could get for my family by working hard.
So all my dream change because we cannot get what belong to us when am 55 and the goal post shifting.Perhap when I qualify for citizenship then I have option and will decide my next action.
If I stay the job may be gone to foreigner because it no longer able to support my family as dog eat dog with no bone to chew.
I am lucky and not so for the many seeing what is happening today with m any minister not sincere and talk rubbish and continue to hold back CPF and no clear clue to solve the request from public call.Keep keeping giving excuse one after another and still wants to instill fear when find outspoken public memeber like Roy.
How can they bully us when they suppose to serve and hear us of the problem. I like many of you are tired of the follow the flow system with no evidence to serve but cream for their benefit only.
Hope to see changes 2016
Rating: +6 (from 6 votes)
Lim Swee Say his labour polices of employing 3 foreigners then can employ one S'porean is so unpopular he got the second worse performance EAst Coast GRC of 54 percent, he should realised that?
If don't have GRC can he become a MP, how many votes other topped up his votes, he is likely lower then 50 percent , maybe need two other MP to top up his votes to come in?
His cheaper, faster and better policies, with S'pore one of the most expensive countries in the world how it fit into the scheme?
What about his pay is it cheaper faster and better, he command the highest pay in the world, he want his workers to be cheaper, faster and better?
He cried in front of tv during the 2011 GE, his cleaners should cry after so many year pay around $800?
THE REAL REASON:
Seriously M'sia return the EPF money to people, so for Singapore this reason is not valid that the age grow longer, why M'sian able to return at 55 S'pore don't need?
Likely less then one percent go Bintan spend all the money, so these not the valid reason? Ladies don't go to Bintan spend on men?
If after spending all their money, few likely can ask the govt for money, they need to go back to work, which was so thrifty toward the poor.
But when paying themselves they can have all sorts of reasons that they are worth 10 times the counterpart in some advanced small countries, could these be the underlying reasons?
Is these the real reason they want to hold back CPF, so that they want to pay themselves the highest pay in the world?
Spend all the money need tax payers to pay for their daily expense, this is not the real reason, govt give social welfare of $400 per month not every one is qualify, many old got to sleep in the street, clean table, collect cans and cardboard to survive?
The employ 3 in one polices, 3 foreigners one Singaporean, new immigrants of 30K per year, locked CPF for life, higher cost of living?
All these policies could worsen and causes more and more of those to sleep in the street, clean table, collect cardboard and tin etc?
The eastern side of around 55 percent support would get worse when it take effect?
Western side because many are new immigrants don't know about the impact of such policies?
But the mobile internet had let the Punggol East By Election, understand the impact of such policies on their future, so the switch support to the opposition with the huge swing of 12pc votes in 2011 to 2013?
Aiyoh... stop bullshitting lah
Just because cUnt make money from the market; the market is dead?
cannot con investors to buy shitty stocks that invisible hands are manipulating to unload ... market is dead
Please lah ... the market is skewed to favour those filthy rich, inner inner citcle of financial markets n syndicate.
U here talking cocks writing cocks n bull stories beside other activitiEs during trading hours .. how to make money?
btw, u ever tried asking clients to buy unifiber? Target price .... $x.xxx ?
Hi anon 5:34. Algo trading, HFT are all part of computer trading when big funds are allowed to plug their computers into the SGX computers to gain access to trading information and to trade against the rest of the investors who did not have access to such information.
Anon 7:57, you know what you toking about? If don't know don't pretend that you know. Your ignorance is showing.
educated in English but ignorance in real world
When the Stock Broking Industry is apparently collapsing and no one bothers, it simply means that the Industry is not an important one. There must be more vital and better industries to focus on.
Could it be better to build a few more casinos to generate revenues rather than relying on stock trading?
When old uncle was borrowing scripts-based blue chips shares from angmoh financial institutions, maybe u still playing marbles or pacman computer games.
Cheers... have a good day
Once upon a time ....There was a man, . asking people to vouched for his fellow remisier charged for forging some documents?
There was a kungfu master conned by an old lady into buying "bargain" goods and was robbed by her accomplices... so funny.
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