It is good news to know that a Singaporean has been
appointed as CEO of SGX to replace Magnus Bocker. Hope with his appointment,
the flirtation with foreign talents is over and those infected with the
foreigner is good disease will not look for another foreigner in the days
ahead. The damage done to the Exchange over the last few years is so severe
that Loh Boon Chye would have a hard time trying to breath life back into it.
And hope they will give him time to understand the inherent problems in the
system and to tear out a few chunks of cancerous growth that has cost the
Exchange to go into a comma for so long. It would be painful and the Exchange
would get worse before returning to its former glorious days.
Anyone thinking that the recovering of a dying exchange can
be healed in a year or two would be hallucinating and deluding himself. And any
small scratches on the surface would not do any good. Hope Loh Boon Chye could
get a good grasp of the cancerous growth in the Exchange system and recommend
what is necessary to save the Exchange before it is eclipsed and be
irrecoverable. Perfunctory or cosmetic changes would not do.
It would take a lot of guts and persuasion for the new CEO
to revamp the Exchange and return it to becoming what it was meant to be, a
stock exchange and not a casino. Perhaps Loh Boon Chye may want to talk to
other stakeholders to get a better grasp of the severity of the cancer instead
of talking to the converts that are part of the problem. Talk to the people who
know and not those who are asking for the return of a lunch break for the sake
of a lunch break or those who think cutting commission, reducing bid size or
smaller board lots would save the day. They could not tell the difference
between a cold and SARS or MERS.
The Exchange is in dire straits and needs immediate
attention to identify the real cause of its precarious state of being. There is
no time for more wayangs and pretensions if the Exchange is to be saved. All
the computers plugged into the system must be unplugged immediately as their
modus operandi is detrimental to the fundamentals of a stock exchange. They
seek short term profits that are contrary to the long term good of stocks and
the Exchange. The Stock Exchange must return to its original role of supporting
the growth of companies on a long term basis when fund managers can return to
talk about fundamentals and long term investment to grow with the companies.
15 comments:
Thanks to RB who persistently load them with free advocates that they heed your advice to appoint a Singaporean
Now don't wake up when wake up???
The sun had already shone on their assholes
Is Loh Boon Chye a General like Desmond Kuek?
We must draw a distinction between a true blue Singaporean and a PAP Singaporean.
He has a very difficult job to do. How to save a dying patient? And worse, how to tell the converts that the patient is dying but the converts are still saying everything is fine, nothing wrong, just a few small tweaks here and there will do?
I think it's a mistake for Loh Boon Chye to take on the job.
It would have been better to let another PAP Alien take the job.
Then it's very clear how much Singaporeans are benefiting from the PAP government's pro Alien policy.
After Loh Boon Chye cleans up the mess.
Will another Alien take over the job and enjoy the fruits?
It's very common practice nowadays.
Singaporeans do the hard work and then get fired after the job is done (But not before they are asked to train the Alien replacing them).
Aliens get the credit of the hard work done by the outgoing Singaporean.
You right man. After so many years of hard work to build up a bank like DBS, they handed it to a foreigner. So was SGX to Magnus and allowed it to be in such a desperate state.
Hand SGX to another foreigner after this Loh Boon Chye revamp it to health? Pray they don't hand Singapore to foreigners after building it to what it is today.
I don't know which was worse.
Handing over Singapore to Aliens or handing over Singapore to Lee Hsien Loong.
What do you think?
Is HFT already live or still pending?
Hope Loh Boon Chye could get a good grasp of the cancerous growth in the Exchange system and recommend what is necessary to save the Exchange before it is eclipsed and be irrecoverable.
RB
Wah lau eh. That is as good as asking Teochew Ah Hia to make WP ready to be govt by next GE to save Singapore before it is eclipsed and be irrecoverable due to 60% keep on voting PAP.
Shake head!
Please lah RB, most of the trading volume is executed by algorithms. There's no turning back.
Algorithms and software mathematicalmathematical models run our modern world. We now ADOPT technology, then ADAPT our lives to it. For e.g. texting forces you to ADAPT your typing and written communication to the texting protocol. Our economies are planned by MODELS. Therefore we ADAPT to the conditions implemented by govt policy which comes from those models.
There is no turning back.
Is Hongkong and Shanghai run by Algo?
Our volume is $1b a day. Hongkong's volume is $27b a day!
Hongkong's volume is $27b a day!
RB 12:17 p.m.
Please lah, Hong Kong is a SAR (Special Autonomous Region) of China lah.
And do u know one China billionaire even lost $14 billion in just half an hour when his company stocks fell on the HKSE?
And why Hong Kong has tens of thousands of illegal street demonstrators and Singapore can't even get more than a couple of hundreds, even legally in Hong Lim Park?
So a sense of proportion please, RB.
algo trading needs the market to have depth which SGX do not have. It would have made sense in HK but not much in SG. Nice to pontificate abt the virtues of technology but that technology needs the required environment to work. With so much of the biggest counters in SGX locked up in Temasek, that environment is not there.
Anon 12:47, you got your proportion wrong. What is China when Singapore has the whole world behind it? Our hinterland is the whole wide world. Our stock market is linked to the whole wide world.
@116:
I had another look at HFT, and have changed my position. This is a game changer, and it is dangerous SHIT.
Technology is neutral. "Virtue" however, is a human trait---the propensity to DO GOOD. For e.g. Virus technology (biotech): you can design a virus to infect and kill cancer cells (oncolytic virus) or you can design a virus to be delivered as a bioweapon to wipe out entire cities. The "virtue" completely depends on what the human actors choose to do.
Algo trading won't go away. The algos are getting "smarter" because of a renaissance in Artificial Intelligence, and the boost in hardware and bandswidth capacities.
As the algos approach human-level "intelligence", only a few "select" humans will be in the markets. We'll probably get some kind of "pareto" power distribution function, e.g. 10% of human operators will control 90% of the volume. And these operators will be geeks---people with math, engineering and science backgrounds. MBA's in Finance, Econs PhDs, aunty-uncle investor...all out of the picture.
Post a Comment