Sunday, July 18, 2010
www.tankinlian.com/ishop
Puchase of books has now been transferred from www.easysearch.sg/ishop to www.tankinlian.com/ishop. You can also go to www.tankinlian.com and click on the iShop tab. There is a promotion of the books, which will end on 31 July 2010. Order now.
Survey - Flood in Singapore
Here is the survey report based on 82 responses.
My observation
The majority (86%) like to see an independent commission of inquiry. A small minority felt that it is not necessary and a waste of time and money. Some are skeptical about the independence of the commission. Generally, there is much unhappiness over the handling of the floods.
My observation
The majority (86%) like to see an independent commission of inquiry. A small minority felt that it is not necessary and a waste of time and money. Some are skeptical about the independence of the commission. Generally, there is much unhappiness over the handling of the floods.
Survey - Youth Olympic Games
The survey is popular. Here are the survey results based on the first 100 replies.
My view
The survey show a low level of enthusiasm for the Youth Olympic Games. Many respondents are unhappy about the high budget and the over-run.
My view
The survey show a low level of enthusiasm for the Youth Olympic Games. Many respondents are unhappy about the high budget and the over-run.
World Expo Shanghai
The World Expo in Shanghai is being held from 1 May to 30 October 2010. Details are here:
http://www.worldexpochina.net/
Is it worth visiting? Can those who have visited the Expo share your experience? What is a good time to go?
The temperature in Shanghai is now 32 deg Centrigrade, just like Singapore
Flashback:
I first visited Shanghai in1990. It was quite backward and under-developed. The transformation of Shanghai during the past 20 years was amazing, beyond imagination.
http://www.worldexpochina.net/
Is it worth visiting? Can those who have visited the Expo share your experience? What is a good time to go?
The temperature in Shanghai is now 32 deg Centrigrade, just like Singapore
Flashback:
I first visited Shanghai in1990. It was quite backward and under-developed. The transformation of Shanghai during the past 20 years was amazing, beyond imagination.
Advice to a retiree
Dear Mr Tan,
I am asking on my behalf of my dad who is going to retire soon. I need your advice on the investment for a retiree.
My dad is 64 years old and he will be retiring next year. He has paid off his house loans and he has dilemamn on whether should he invest his money in good blue chips for dividends or keep his money and spend wisely.
REPLY
Your dad can do the following:
I am asking on my behalf of my dad who is going to retire soon. I need your advice on the investment for a retiree.
My dad is 64 years old and he will be retiring next year. He has paid off his house loans and he has dilemamn on whether should he invest his money in good blue chips for dividends or keep his money and spend wisely.
REPLY
Your dad can do the following:
a) read my book, practical guide on financial planning $12, available at www.tankinlian.com/ishop
b) join fisca and attend the educational talk on financial planning - www.fisca.sg
b) join fisca and attend the educational talk on financial planning - www.fisca.sg
c) read the FAQs in my website, www.tankinlian.com (click on ASk Mr. Tan)
Educate the public
Dear Mr Tan Kin Lian,
I would like to write a letter of appreciation to express my respect and admiration for your efforts in imparting financial literacy to Singaporeans and defending the victims who were bullied by the financial sharks.
I have been following your blog from time to time since the Lehman Brothers Minibonds collapse put you in the public eye. Although I am not a victim, this financial fiasco fascinates me as managing my own money has been a hobby of mine for the past 7 years.
I respect you for standing up and using your financial expertise to speak up for the victims. It is not merely an extension of help to needy people as you have to take on the risk of antagonizing powerful people with links to the mighty banks. I also thought it was extraordinary of you to educate the public and expose the tricks of the insurance industry given that you are likely to make enemies and lose old friends in an industry which you have worked all your life.
As an investor in Singapore stocks, one can easily observe that someone of your background should be sitting on the directorships of several public-listed companies. By taking on the path that you took, I am not surprised that these high-paying cushy part-time jobs are closed to you. Hence, I think you have made tremendous sacrifices in sticking out your neck for your principles.
In general, people would speak out for themselves if they were wronged, but very few would speak out for strangers when one has much to lose and little to gain. My calculative mind tells me it is not wise to do what you have done. However, I cannot help but admire and respect your actions. You certainly put the self-serving yes-men to shame. To be honest, you put me to shame as well because being a selfish person, I would not have done the same thing as you did.
Yours truly
REPLY
I also have to bear the brunt of continuous personal attacks, posted anonymously by two persons.
I would like to write a letter of appreciation to express my respect and admiration for your efforts in imparting financial literacy to Singaporeans and defending the victims who were bullied by the financial sharks.
I have been following your blog from time to time since the Lehman Brothers Minibonds collapse put you in the public eye. Although I am not a victim, this financial fiasco fascinates me as managing my own money has been a hobby of mine for the past 7 years.
I respect you for standing up and using your financial expertise to speak up for the victims. It is not merely an extension of help to needy people as you have to take on the risk of antagonizing powerful people with links to the mighty banks. I also thought it was extraordinary of you to educate the public and expose the tricks of the insurance industry given that you are likely to make enemies and lose old friends in an industry which you have worked all your life.
As an investor in Singapore stocks, one can easily observe that someone of your background should be sitting on the directorships of several public-listed companies. By taking on the path that you took, I am not surprised that these high-paying cushy part-time jobs are closed to you. Hence, I think you have made tremendous sacrifices in sticking out your neck for your principles.
In general, people would speak out for themselves if they were wronged, but very few would speak out for strangers when one has much to lose and little to gain. My calculative mind tells me it is not wise to do what you have done. However, I cannot help but admire and respect your actions. You certainly put the self-serving yes-men to shame. To be honest, you put me to shame as well because being a selfish person, I would not have done the same thing as you did.
Yours truly
REPLY
I also have to bear the brunt of continuous personal attacks, posted anonymously by two persons.
It never rains, but it pours
Read this article.
My view
Many bad events are occurring one after another. A few people said that the economy is growing too fast and is causing many problems that cannot be coped. I share this view.
My view
Many bad events are occurring one after another. A few people said that the economy is growing too fast and is causing many problems that cannot be coped. I share this view.
Dual Currency Investment - Small Gain and Big Loss
Someone sent me an e-mail sharing his positive experience in dual currency investments. He found that it gave him a better yield than fixed deposit.
This is true. Many investors had similar positive experience. But, when it comes to a loss, they can lose big. And the odds are against the investor.
Take this hypothetical example. In stable times, you are likely to make a small gain, say 0.1% in 1 week. This amounts to 5.2% in 1 year, which is more attractive in fixed deposit. However, when the market gets volatile, you can lose 10% within a week, before you close the deal. At that time, you take over the foreign currency and wait for its recovery. But, it can get worse.
If you gain 0.1% on a bet and lose 10%, you need to have 100 winning bets to cover 1 big loss. You are likely to find the losing event occur earlier than 100 weeks. But that time, you would have learnt your lesson, and would not come back.
The dual currency investment is bad for the small investor, due to the high charges and marketing expenses. This is similar to any structured product. If you wish to speculate on foreign currency, it is better to buy the foreign currency directly and take your chance. At least, you have a more even chance of winning and losing.
Read the FAQ in www.tankinlian.com (Ask Mr. Tan). My book, Practical Guide on Financial Planning, has a few examples of investors who lost big sums on money on dual currency investments. www.easysearch.sg/ishop.
This is true. Many investors had similar positive experience. But, when it comes to a loss, they can lose big. And the odds are against the investor.
Take this hypothetical example. In stable times, you are likely to make a small gain, say 0.1% in 1 week. This amounts to 5.2% in 1 year, which is more attractive in fixed deposit. However, when the market gets volatile, you can lose 10% within a week, before you close the deal. At that time, you take over the foreign currency and wait for its recovery. But, it can get worse.
If you gain 0.1% on a bet and lose 10%, you need to have 100 winning bets to cover 1 big loss. You are likely to find the losing event occur earlier than 100 weeks. But that time, you would have learnt your lesson, and would not come back.
The dual currency investment is bad for the small investor, due to the high charges and marketing expenses. This is similar to any structured product. If you wish to speculate on foreign currency, it is better to buy the foreign currency directly and take your chance. At least, you have a more even chance of winning and losing.
Read the FAQ in www.tankinlian.com (Ask Mr. Tan). My book, Practical Guide on Financial Planning, has a few examples of investors who lost big sums on money on dual currency investments. www.easysearch.sg/ishop.
FAQ - Life Insurance, Past & Present
Have life insurance policies changed from the past to the present? Read here.
Youth Olympic Games
As a Signaporean, how do you feel about the Youth Olympic Games? Take part in this survey.
Floods in Singapore
Read this article. Should the Government set up a commission of Enquiry? Give your views in this survey.
Here is another article:
http://sg.yfittopostblog.com/2010/07/18/newspaper-photographer-detained-for-taking-flood-photos/
Here is another article:
http://sg.yfittopostblog.com/2010/07/18/newspaper-photographer-detained-for-taking-flood-photos/
Minimum wage
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