Recent Happenings

Raining this morning so can't go for my regular Saturday swimming trip. Nvm change activity to blogging haha...

The recent financial storm have been in news lately... Everywhere people are scared, not only investors but also ordinary workers like me cos MNCs are laying off people... Just today heard AIA SG have laid off 20, Motorola, Amex are set to follow.... I asked a fren who is working in OCBC, he also say gone are the good days in the banking sector...

There have been alot of protests with regards to the High Notes 2/5 and minibonds products which are related to the collasped Lehman brothers... I know many felt cheated by DBS into buying the product, and some are demanding 100% compensation... my personal view ( i know many will disagree), and in a word of fairness , i dun think 100% compensation is resonable for the banks and financial institution. 50-70% is fair enough...
Why? because everyone should know that there is no free lunch in the world (even those who are less educated, less than P6). who in the world will give u 5% annual interest every year for nothing?? Savings are only 0.25%. So for those who say they are cheated, i dun think they can fully justify lor.... i do feel sorry for those old uncles and aunties esp those who sink their entire savings into buying these products, those i feel are geninuely ignorant but there are many who KNOWS the risk but still wants to speculate. when something goes wrong they act blur and try to get something out of it. This group deserved to be taught a lesson, when things are rosy, they nv complain how come so much interest when things go wrong they say they are ignorant...

Anyway even if there's really some compensation by the banks, it's also using our $$. When they earn $$ these ppl also nv share with us, when they have losses, we compensate... though i still think a fair amout of compensation is realistic, i do hope it's not 100% because we need to be taught a lesson in greediness. Don't be too greedy and fall pray to those 'financial advisors' who are trying to acheive their quotas...

All investments carry certain risk, Invest only in those products that u know, with the $$ then u can lose. Don't be too greedy....