Hi,
I have just given up on my V investment plan which lasted for 2 years. The investment return is poor (i.e. I lost over 30% of capital and the EURO adventurous fund performed very poorly) and the surrender penalty is very heavy.
What I really dislike about this plan is the lack of transparency and inflexibility, and particularly the lack of control of your funds. There are these expensive management fees and numerous charges. It is an expensive plan (i.e. at least $1,200 per month on a premium of $2,500 per month).
It would be better if you invest in an exchanged traded or index funds for long term investment. ETFs work like a stock and can be traded with minimal management fees unlike unit trusts or managed funds. You can dollar average your payment (when the stock price is low). The advantage is that you can buy and sell the fund (depending on the market) as YOU ARE in control. Right now equities are very low particularly for some blue chips shares. Do some research, be your own fund manager.
Just cut your losses and get rid of the plan. Remember you have to pay 10 years of this plan (otherwise you may incur penalty etc)! Your returns may be very unpredictable. 10 years of bondage to a fund which may not.
VL
Friday, December 19, 2008
ProTrader - learn trading in a simulated environment
Read about this simulated game here:
www.tankinlian.com/forms/protrader.pdf
You can play the game here:
www.tankinlian.com/trader
Steps:
1. create an account will your user name and password
2. login
3. click on play
4. select the game
5. enjoy (the game comprise of 10 virtual days .. wait until end of the game)
This game teaches you the skill on day trading, based on the economic news. You can practice many times to get a feel of how the news impact on the price movements of various financial products.
This is for FUN. It is not suitable for long term investors.
www.tankinlian.com/forms/protrader.pdf
You can play the game here:
www.tankinlian.com/trader
Steps:
1. create an account will your user name and password
2. login
3. click on play
4. select the game
5. enjoy (the game comprise of 10 virtual days .. wait until end of the game)
This game teaches you the skill on day trading, based on the economic news. You can practice many times to get a feel of how the news impact on the price movements of various financial products.
This is for FUN. It is not suitable for long term investors.
Thursday, December 18, 2008
Survey - visitors to my blog
72 people replied to the survey.
Occupation
Professional, manager 39%
Sales, support, admin 34%
Retired 18%
Homemaker, student 9%
Age group
Up to 30: 25%
31 to 50: 39%
Above 50: 36%
How frequently do you visit:
Daily: 56%
Several times a week: 34%
Several times a month: 5%
Occasionally 4%
Survey - Compensation on CLN
148 investors participated in the survey.
What is the minimum percentage of compensation that you will accept"
30% 7.6%
50% 47.2%
70% 45.1%
Are you prepared to take part in a class action and spend up to $5,000
Yes 59.3%
No 40.7%
Volunteers to help get 100,000 signatures
A group of volunteers have set up this blog to help collect 100,000 signatures for me.
Hi everyone!
We have set up a blog to generate interest in getting the 100k signatures for Mr Tan Kin Lian. We would like to invite everyone to come visit our blog here:
http://tkl100kpetition.
Please feel free to drop your comments on the articles posted at our blog. We welcome all contributions.
Also, if you would like to signup as one of our volunteers , please do drop us an email at tkl.volunteers@gmail.com
Do tell all your friends about it too! Thanks!
Volunteers
Regular visitors to Tan Kin Lian's Blog
I wish to collect particulars of regular visitors to my blog. Please provide the information requested here (all fields are optional). You can also tell me what you like best and what new information you like to see.
http://www.surveymonkey.com/s.aspx?sm=hh2uUZuh5AL0ZOA2c77dhg_3d_3d
http://www.surveymonkey.com/s.aspx?sm=hh2uUZuh5AL0ZOA2c77dhg_3d_3d
Wednesday, December 17, 2008
US Lawyers Visiting Hong Kong
Patrick Daniels, the leading counsel of the proposed class action towards HSBC, has come to HK in the last two days. He explained several important points for the case:
1) HSBC is not considered to be the defendant simply because it is the trustee. Actually, according to the minibond programme prospectus, it's shown that issuer of the minibonds (i.e. Pacific International Finance Limited), is WHOLLY owned by HSBC Cayman, and its directors are also supplied by HSBC.
2) Mr. Daniels is therefore looking into the role and responsibility of HSBC in designing, creating and operating the product, which should not be called as "bonds" as they are highly complicated deriviatives and not suitable for retail investors.
3) Class action can be commenced whenever potential clients agree on it. HK investors are still meeting and discussing whether to launch it or not, and seeking for leading plaintiffs at the same time.
1) HSBC is not considered to be the defendant simply because it is the trustee. Actually, according to the minibond programme prospectus, it's shown that issuer of the minibonds (i.e. Pacific International Finance Limited), is WHOLLY owned by HSBC Cayman, and its directors are also supplied by HSBC.
2) Mr. Daniels is therefore looking into the role and responsibility of HSBC in designing, creating and operating the product, which should not be called as "bonds" as they are highly complicated deriviatives and not suitable for retail investors.
3) Class action can be commenced whenever potential clients agree on it. HK investors are still meeting and discussing whether to launch it or not, and seeking for leading plaintiffs at the same time.
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