Investor wants to sue the relationship manager

Dear Mr. Tan

Seek your views on the following:
Q1 Can sue the RM personally for mis-selling and mis-representation, if I am not happy with FI investigation.

Q2 If I sue the RM, do you think the FI will defend her or the RM has to defend herself.

Q3 Do you think Leonard Loo is a possible choice, or get another lawyer?

Actually, money loss can be earned back. It saddened me that many uncles and aunties may not even know they are intoxicated OR those who are intoxicated may not know how to fight on ground of mis-selling and mis-rep which is a legal concept.

I think MAS is making it worst for investors. Imagine, we are cheated, now we have to prove that we are “idiot” ie “vulnerable or mis-selling or mis-rep” to get back our money?

"Pinnacle Action Group" formed to work on a possible Class Action

(1) A working committee of 6 investors (informally called "Pinnacle Action Group") have come together to work on a possible class action for Series 1,2,3,5,6,7,9 & 10 of the Pinnacle Notes. Series 9 & 10 have been declared worthless and the other Series were notified in December 2008 that they are close to but not yet declared worthless. The fate of these other series now hang in the balance. The group feels that we cannot allow this tragic event to go unchallenged

(2) We have briefed several Senior Counsel (SC)and the proposed class action will,unlike the case of Minibonds, be against the arranger of the Notes, viz Morgan Stanley Singapore. An official website to facilitate the organizing of the proposed class action will be launched as soon as one of the SC briefed has been appointed to take on the case.

(3)The proposed class action will target 1000 or more affected investors in the various series to join in .The legal fee structure proposed will be simple and affordable - perhaps as low as only about $1000/- per head - on an all-inclusive basis right up to appeal stage , win or lose. To do this , we need 1000 or more to join in. The process will also be kept simple and the issues raised will be easy to understand for all who wish to join in the proposed class action and try and recoup their losses.

To be kept informed, before the launch the official "Pinnacle Class Action" website, Pinnacle investors are urged to contact us at the email address given below. Please provide us with your:

(a) name; (b) Series bought; (c) email address, and (d) contact tel

Thank you.

Sincerely,
"Pinnacle Action Group"

(J C Chan, S Tan, C S Lim, P Loh, B T Tee and C Y Boey)

Email: pinnacle.action.group@gmail.com

Going to extremes to find a job

http://money.cnn.com/2009/01/14/pf/unconventional_job_searches/index.htm

Value and character

I teach a course in Singapore Management University.

Apart from the syllabus of the course, I like the students to learn some values and tips that will be useful for them to cope with the challenges of life.

I will share some of the values that guide my character. I hope that these values will be useful as a guide to the students.

http://www.tankinlian.com/articles/values.html 

How to identity a bubble

Someone asked, "How to identify a bubble?"

The answer: "Nobody knows". Alan Greenspan, the former chairman of the US Federal Reserve Board said that one knows a bubble after it has burst. This is not helpful. It turned out to be disastrous, as the bursting of the US housing bubble has led to the global financial crisis.

Is there a rule of thumb to identify a bubble? Nobody has dared to stick out his thumb. But I shall try.

You get a bubble when the current price is 50% or 100% higher than the average price for the past 5 years. Maybe, we should look at the actual statistics and see if 50% or 100% is a better indicator.

For example, the average oil price during the past 5 years prior to 2008 must be around US$40. When it exceeded US$80, it was a bubble. After it burst, it returned to US$40.

When the high end property prices in Singapore doubled in value in 2008 compared to the past years, it was a bubble. It burst soon after.

A new way to do business - by conference call

I have to discuss a business proposal with a Telco. Their marketing managers were busy and could not find a convenient time for a meeting. We decided to have a conference call. It went smoothly. There was no need for a face to face meeting. This is a new way to do business. It is more efficient.

Thought for the day - Injustice

If you are neutral in situations of injustice, you have chosen the side of the oppressor. If an elephant has its foot on the tail of a mouse and you say that you are neutral, the mouse will not appreciate your neutrality:[ Bishop Desmond Tutu]

Contributed by Ho Cheow Seng