cha hern keng's passion on managing the stock market

I share Chia Hern Keng's passion in pushing for Asian govt to work out some system of intervention in the stock market before another crisis hit us. His reasons are very similar to mine, the ability of huge mutual funds to wreck havoc in any small Asian markets. He contributed another article on this today in Today paper. It seems that lethargy has set in after the last financial crisis. During those dark hours, all kinds of plans were suggested but subsequently put aside when the dust settled. All the dust will settle after every disaster. And all the carnage will be removed and forgotten. Since then, the slow and painful recovery has taken shape while everyone either have gone to sleep or have short memories of those frightening times. And the fruit is just about ripe for another bout of attacks. It is sad and disgusting to know that the more advanced Asian countries who should be taking the lead have lapsed into a stage of self delusion. It would not happen again. Unexpectedly India has rose to the occasion to close down its Bombay stock market for a day under a panic sell down situation. And when it reopened, it gained 4%. And the Indian govt did not stop at that. Investors were assured, and banks were told not to pull the plug with making margin calls and selling off clients positions. In fact banks were told to provide the liquidity needed in such a crisis. And of course, the govt also rounded up the mutual funds to sort out the problems that these funds could create. As Chia Hern Keng said, billions of dollars could move in and out of a market with a few pushes of the button, not forgetting programme selling and buying. 'What would be questionable is a govt's inept response to such a crisis. If a govt just sit back and says all the upheaval and panic going around is just the work of market forces and the result of other countries' economic mismanagement, it is like an army general spouting philosophy when his country is being ravaged.' Chia said. The govts set up stock markets as a business concern for businesses to raise funds, for investors to invest in stocks all for good intention. What the govt did not ask for, and neither did the investors and companies listed in the exchange ask for it, is for mutual funds to push their stocks either way, recklessly beyond logic and fundamentals. And these actions would, if left unchecked, drive a herd down the cliff without them knowing why. The mutual funds are only concerned with their profits, with no responsibility to the destruction of investors or a stock market. And it is sinfully irresponsible for a govt to wipe its hands clean and say it is part of the game and nothing they can do about it. I would like Chia Hern Keng to continue his crusade in this forum if the paper is not giving him enough space and recognition of the severity of the problem.

lonely voice of marina mahathir

She is a champion of a sort. A lonely voice in a world where women are supposed to be wrapped up, unheard and unseen. But she is fighting to be heard, to champion the cause of women in society. She wrote an article on the sentiments and attitude of believers and how they would react when their faiths are questioned. She pointed to the contrasting responses of Christians towards Dan Brown and the Da Vinci Code and the Muslims deadly threats towards Salman Rushdie and his Satanic Verses. Both authors and their books touched on issues that challenged the major doctrines of the respective religions. And the way the believers reacted simply lead the world to stereotype them as either rational or prone to violence. But her main objective is to call for her sisters in Islam to stand up and present another face of rationality and moderation. Would she find enough believers to take up the challenge and shed the shackles placed on them?

the story of ike see

When I read the story of Ike See, my immediate response is that another prodigy going to waste. Another case of rigid application of rules that puts up more obstacles to the few rare talents we have. It is tough being a Singaporean. But to be fair to Mindef, it is a tough decision to make. It is an exception that if seen positively, people will say Mindef is flexible. On the other hand, for those who cannot appreciate such musical talent, they will criticise the decision and say so what? In situation like this, someone has to make the decision. And either way, there will be those who agree and those who disagree. The bottom line, it points out one very important thing about being Singaporean. You have a big obligation and responsibility to the nation. And this is also a personal burden that all male Singaporeans have to bear. So please treat the male Singaporeans, or all Singaporeans who have to perform national service better. Please do not take this personal sacrifice for granted and opt for more foreign talents.

citizen reporting

There was a proliferation of blogs and forums reporting on the recent election. There was a sudden surge of interest on social and political issues among the people. The people are no longer apathetic and apolitical. The people are concerned and interested in social and national issues concerning them. Now isn't this a good thing? Isn't this what the govt wants, a maturing people who care for the nation. Or will we see more curbs to cut off such exuberance of the people? That the people should not get too nosy and should quietly go back to their lives, to the rat race, earning a living, now that they have chosen a reliable and competent govt comprising honest people with unquestionable integrity. I have been interviewed by one of the press and among the issues raised is the role of citizen reporting. Should the traditional media engage the citizens in cyberspace or should they ignore them? Like it or not, the citizens are not going to shut up. They will continue to express their views, colourful and even extreme views. And they will challenge the traditional media in reporting events and issues in the way they see it. And these are the views and feelings of the people. Not doctored views of the traditional media seen through specially coated lenses. The reporting scene will no longer be the preserves of the traditional media journalists. And the citizen reporting will grow in leaps and bounds as more people flock to the net to hear alternative and refreshing views and voices. News and news reporting will never be the same again.

where have all the forumers gone?

I have posted this article in response to Green Peas in redbeanforum. Hi Green Peas, A very big welcome to the forum. You are quite right to say that most of the forumers have disappeared after the general election. I was scratching my head to find out why. I scoured the forums and the activities have really died down except for those threads where forumers were biting at each other. Not many issues are now floating around. Even the news media are still clinging onto the post election bit to push out some articles to keep themselves busy. But the key thing is that Singaporeans are by nature quite conservative, reserve and inhibited in expressing their views. And one cannot run away from the element of fear. Everything we said here may one day be used or misquoted as evidence against us. The best example is Gayle Goh who was warned by all the well wishers to be careful in what she said. And prior to the election, when Balaji came out with the statement that blogs and forums need to be registered, the same quiet enveloped the whole cyberspace. Singaporeans need to speak out and express themselves. We should remove the fear and inhibition within us. We all make mistakes in our lives, in the things we said and do. By not saying or doing anything does not improve things except to minimise our mistakes. But it is through our mistakes that we learn. In general, the people are now more mature and more forgiving, more liberal in their judgement of other people's behaviours and little mistakes. Steve Chia is an example that despite the little skirmishes he had with the law, people still accept him as what he is. Of course there are parties or people who will rush to condemn someone for a little misdemeanour as if they themselves were angels and gods. But they could do so only because they kept their cupboards tightly closed and guarded. Practically everyone, every human being, has a cupboard full of skeletons. Lets be human and live with our mistakes and other people's mistakes. If we can do that, maybe we can speak a bit more freely, and laugh at ourselves. Relax a little, and kick a few arses if needed to and be kicked as well. one thing for sure, the number of new forumers coming to read blogs and forums are growing. i can see it from my statistics.