Leo81 has posted a piece on Profit versus non profit using academic theories and principles which is all well and fine in the context of the classroom. A good real life example is the Singapore Exchange going all out to entice foreign companies to list here, based on simple assumptions that everything is fine from the angles of theories and principles. Everyone wins, the companies that listed here will win as well as the investors.
What is starkingly missing is the reality, the human factor. When there is big money to be made, 9 out of 10 will cheat, just like 9 out of 10 will be corrupt unless you pay them in advance and pretend that it is not corruption. What is real, what is academic and what is self delusion, you decide.
My topic is how to cheat daft fund managers to part with their money, especially OPM. Many fund managers are not fund managers and may read a few books on economic and financial theories and principles and think they are well equipped to be fund managers. And many lack experience and confidence to make the right decision as the information available to them are inadequate and often lies or misinformation. So to be safe, they wait for others to make the call and they tack along. If Warren Buffett said he is investing in a company and invites the daft fund managers to join in, 100% they would go along. Very safe, believing that Buffett has done the home work, cannot be wrong.
The easiest way to cheat the daft fund managers is simply to dress up a sick company with the help of branded auditing companies. The second step is to look for some big fund managers, not necessary Warren Buffett to pretend to show interest in the scam, go then invite the daft fund managers to join the party. The whole thing is simply a scam by the management of the sick company and the 'fund management company', better still another sovereign fund to make it looked good, to be in cahoot to fix up the daft fund managers to invest in the sick company. When the money is in, everything will become history. The price will drop to rock bottom.
This is the very reason why some silly sovereign funds are repeatedly duped into buying high, buying very high, only to cash out at rock bottom when the price of the stock is worthless and losing their pants.
The sad part is that this is repeated over and over again. Why? Ok not all are daft, some may be really daft fund managers, but some pretended to be daft but were part of the scam and get their cut from the deal.
This is not taught in the schools of management. In the schools, they don't teach principles and theories about cheating and scams and scoundrels. They only teach high principles and brilliant academic theories.
See how easy it is to cheat the daft fund managers.
Simple example. Conman approached you on the side walk and show you a miracle Stone that cures all diseases.Another curious guy or woman will join in and fired from the sidelines of how effective this Stone is be.
ReplyDeleteYou soon departed with your monies believing in them. All be laughing all the way to share their loots.
Con jobs to trick the dafts especially Sinkie land investors.
Too sheltered from the real world of cheats and confidence conmen and women.
See now no more city sq link at JB.Previously scores of sinkies been conned daily by the hardcore street thugs by just a simple ruse of trying your luck.
ReplyDeletehi....very good morning
no choice this world is like that
everywhere you go......sama sama lah
cheat! cheat! cheat!
not only in finance and businesses.....everywhere!
cheat! cheat! cheat!
this is a cheating world!
so be very very very careful
hahaha.....๐ ๐ ๐ ..........
You mean like Noble, Olam, GE, and all those S-chips?!?!
ReplyDeleteThen how come brokers & remisiers all recommending like hell for people to buy them?!?!
Must be good right?!?!
ReplyDeleteBrokers, remimisers earned their commissions when you buy or sell. Whether you win or lose, we still gets our cut.
You can see so many Conmen and women especially the Chow Ang Mohs and the Black Ants who spent their time in the gyms building their muscles to thrash and stomped the daft Asians.
Cycling away with their racing bikes carefree along Changi Coastal Road until they crashed heads on with a stationary truck as parked on the side.
On their skateboards and electrical scooters zooming in East Coast Parks.
These are the so called Consultants tricksters who you feed them with your hard earned MONIES.
Surgeons recommended operations whether it is malignant or not.One operation and then fatten my bank's account.
This is the world where you hassle me and I hassle you.
Companies had to get prominent ex Ministers in Management's Team as independent Directors.
Just to boost their images.
Alamak, I should get the bourse to be a client ;-). I actually teach manipulation techniques....but purely for "defensive" (security) purposes ;-) ...citing caveats to clients that the techniques mentioned are for "education" only and not to be used for illegal and unethical actions.
ReplyDeleteBasically if you want to understand how scams and cons work, you will need to STRUGGLE to understand and accept 2 core principles:
1. Never give a sucker an even break
2. You cannot cheat an honest man
Core Principle 1 is about identifying your "mark" (victim), and when you strike, you show no mercy. Take everything you can, and leave them in a state where they cannot come after you. (which is precisely why you can't give them a "break")
Core Principle 2 is about human greed. The "mark" is GREEDY. He wants a "good deal"---a deal where he comes out on top and betters his counterpart in the trade. He has no issue with the counterpart losing in the deal, as long as he comes out ahead. He considers himself an "honest man" and looks on the counterpart as "dishonest", so therefore, he must have his guard up to defend his "righteousness".
The usual mark is both GREEDY and DISHONEST. Those attributes propel his choices, and is how he gets "cheated".
Bourses are for-profit businesses and thus require paying customers to keep existing.
Who the fuck wants to list on the S'pore bourse when it is dominated by Government entities? So they have to craft "incentives" to entice non-streetsmart foreigners....mostly young fund managers who only know how to make money in bull markets (thanks to all the money printing going on). These young greenies are easy pickings lah.
I say, go for it;-) The market needs losers, otherwise how will winners make money?
People like Carlson Block from Muddy Waters make their lucrative livings by hunting down fraudulent companies "dressed up" like trying to pass a pile of dog shit for fine Belgian chocolate.
ReplyDeleteSo yah, go ahead. Start conning people....there are "oppotunists" out there waiting to make a profit from bad choices of others.
CAPITALISM IN ACTION! It's a ...meritocracy :-)
Rb //Leo81 has posted a piece on Profit versus non profit using academic theories and principles which is all well and fine in the context of the classroom.//
ReplyDeleteUncle RB,
This is the best complement lah
Leo81 approaches from academic perspective.
After that you can pick up from there and approach from the "straight shooting" dimension.
If quoting from textbooks, how to sue the textbooks till pants (or skirts) drop? (Isn't that a "risk" Ah Hia mentioned in PaLEEmen?)
So spare some thoughts for the younger generations in the world they grew up cos yall oldies are not the ones who went through what they did and how their "minds are shaped" etc.
If yall oldies personally experienced what the younger generation went through in their lives especially the formative years (in pri sch, sec sch, JC and uni), who knows you will also be writing the way the younger generation will write?
The teachers, lecturers and professors of your era are those probably from gks generation and generally their minds are free from the control and influence of (iron-fisted) technocrats in those turbulent era or early years?
So how can your generation and the youngers generations have the same mindset and talk or write the way you do?
They are moulded the way they are courtesy of your generation who put those people in charge of their education and how they are conditioned, is it not?
Before scoffing at the works (or writings) of the younger generations, you should go to the schools and talk to the students. How many are willing to speak their minds like your generation? What does that mean? It means they might know but won't vocalise it, isn't it?
It may not be correct to assume the younger generations (including Leo 81) do not know what you wrote.
But as mentioned in the beginning it is good that oldies like you can complement and take up from such topics and shoot straight from your mouth if it doesn't get you into trouble.
Sounds reasonable?
... continue from above
DeleteDifferent people, different roles?
At least some make the point to "speak up", albeit in a way they feel comfortable to do it?
Do you expect many to be like Aung Juan Soon Chee or JBJ?
If you are the parents of these younger generations, would you rather they do it like Aung Juan Soon Chee and JBJ or the way they do such as Leo 81 or even the way your own or Virgo 49 or other oldies children do?
In any case, in the end, did Aung Juan Soon Chee or JBJ accomplish anything (of great significance or pivotal for the future geneations up to now) for the way they spoke up or did (not withstanding the huge sacrifice they made)?
Nonetheless, it may be good for this little red dot for you all oldies to link up with the younger generations such as Leo 81 for the greater good of all and make this little red dot GREAT again?
But then again, many may just want to kpkb in textbook style from the sideline and not do more than that? Many or rather most of their peers wouldn't even bother to do that cos they don't even see the point, is it NOT?
For many of the younger generations, who knows they dun care if the system rots into utter decay? It was your generation who created such a situation and hoping for some younger generations to take up the shit and become a "martyr" in the process? Siao ah? Clear the "(stinky) pang sai" of the earlier generation?
As far as many of the younger generations are concerned, if this little red dot really "sinks", then sink lah? So?
The world is so big. No other place to go?
In the classroom social history textbook, wss it not mentioned the early immigrants came from China with just a belt (other than the only clothings on them as their belongings) and (still) survived?
So what makes one think the younger generations with what they have cannot survive in this whole wide world if this little red dot (eventually) "sinks"?
The system cannot escape blame for what the younger generations are now, can it? This cut, that cut ... you think the younger generations dunno? Their eyes pasted stamps? There are no MCST management in this island? There are no construction business and contractors? There are no small time contractors who offer even as little as miniscule sum of $50 or $100 to building maintenance technicians, supervisors, even building executives, asst managers and managers for whatever intentions and are accepted? Why certain brands of goods are on certain shelves? All based on the market mechanism?
Uncle, what is in for the younger generations if they rat out certain things other than losing their pants/ skirts? For what? To CLEAR the SHIT left behind by the oldies generation?
What do you think of the monopolistic entity of electricity and water organisation making billions of dollars in profit every year and still keep on increasing charges every now and then base on spurious reasons. What about the billions of dollars collected from COEs and the beyond necessity erection of ever more ERP gantries to collect more billions from vehicles. The end victims are always the suffering ordinary citizens.
ReplyDeletePeople who are cunning enough to short-change their citizens, by getting away comfortably with the ridiculous and corrupted concept of "Ownself Check Ownself" must also be capable of applying the concept of "Ownself Cheat Ownself". I hope I am wrong. Irrespective of whether I am right or wrong, this concept of "Ownself Cheat Ownself" is as old as Prostitution.
ReplyDeleteAll you need to do is plan out a round-about way of channeling the money back into your personal bank account. Nasib"s 1MDB rings a bell?
Next you need Foreign Talents to collude, coorperate and conspire (CCC) with you. But not free, of course.
Every player in this Syndicated Con Job Shell Company must have a piece of the $300 billion SWF CAKE. No pain. No sweat. It's not my money. It's other people's money pretentiously borrowed but don't need to return. Because it is a Pyramid Scam, the biggest and most sophisticated scam of the century.
Next, you tell your stakeholders that it's long-term investment. Very long-term. 30 to 50 years. Even 100 years, like one Con Chief Architect had told us what he did.
Next, you massage the accounts and tell the stakeholders that you are making huge profits of 12% to 15% per year. But pay the only 2.5% fixed every year for the rest of their life-time. But even the 2.5% payout is only on paper. Their is no huge physical out-pouring of funds unless some withdraw their funds fully, like emigration. You come out with rules that they can only withdraw by monthly instalments. At the same time you think of ways to deplete their funds. You come out with compulsory insurance schemes to make sure you can siphon out monthly insurance premiums. Of course, the INSURANCE COMPANY or COMPANIES are either established by you, partially owned by you or by one of your subsidiaries, or by your sidekicks and sycophantic cronies.
When there is Big Money, like big pile of shits, there will be dirty filthy disease-infested flies arround. And human flies are the worst. They can disguise themselves as angels who do no wrong, commit no sins, and most importantly protected by the Creator's LAWS {JAWS).
@ Ginger
ReplyDeleteAh, the good old CPF Ponzi Scheme---best financial engineering in all of modern history. Private bankers are all jealous....why can't their hedge funds and financial instruments deliver like Singapore's CPF system? It's marvellous. And 100% LEGAL. In fact, it is illegal not to "play the game" if you are an employer or employee.
As I've said before, you can't cheat HONEST people. There is no more excuse of "gullibility" with regards to the CPF system. Everyone already knows that they are getting "CON-servative returns" on "their" money. (actually not really their money...it only appears to be theirs...however many still don't believe this FACT and prefer to live in their own self-delusion. Oh well...everyone gets to choose...)
"Ownself Cheat Ownself" is the idea that honest people cannot be cheated. The "victim" has to be complicit in the con....a willing participant who believes they have something to gain.
You are too fixated with yoir own egoistic "all-knowing' god-given talent to this world. So much so you are blinded. Obviously, you still don't get it. That's why you are barking up the wrong tree.
ReplyDeleteDaft is one thing, add on Jinx you get DaftHoliJinx, always buy high, sell low.
ReplyDeleteBut problem solved, by LoongKer as long as it is sillyzen OPM, just collect more taxes.
So daft & jinx can go on a long long time, as long as many dafts keep voting for it.
You cannot cheat an honest person. No-greed is defence to trickery.
ReplyDeleteUnless you used power to cheat by robbing.
ReplyDelete@ 236
ReplyDeleteRobbing or stealing is not cheating. The same applies to fraud...fraud is not the same as cheating. Fraud involves some kind of contract where one party takes off with the exchanged good, leaving the other at a loss.
These distinctions are subtle, but important.
@ Ginger, lighten up lah. Don't be such a sour pus jst because you lost an argument. It's only opinion here, not "truth" ;-)
It's not robbing or stealing if it's passed thru parliament, har har har!!
ReplyDeleteKnn lucky our temasick is willing to pay for talents from hiring from investment banks. Mainly FT that will disappear after few years so work very hard and good leh.
ReplyDeleteStatestimesreview posted this.
ReplyDeleteMany Indian tourists come to Singapore every year to look for job
opportunities, with very positive successful rate due to Singapore’s low-standards immigration policies.(Or is it Singapore's low education standard?) There is no need for an English test,and accreditation is not required to get a work permit in Singapore.
The Singapore Tourism Board (STB) is conducting roadshows in Mumbai andJaipur. The STB’s regional director, GB Srithar said:
“We thank the Indian travellers and our travel trade partners for the record 1.27 million Indian visitors to our country in 2017.