We know this is rather abrupt, but to tap on the capabilities of weblogging, we decided to move to Wordpress:
http://themoneyminder.wordpress.com
See you there!
Thursday, June 11, 2009
Your attitude towards money determines how much you make...or not.
Believe it or not, your views and attitudes about money can, and will, shape the way you make decisions about how much money you make or lose.
More often than not, our everyday decisions—what to buy or sell, how much to invest or save, how we make decisions on spending and/or investments—they're all consciously or sub-consciously based on what we perceive money to be, or how we make our money decisions.
Many people are brought up with the notion that "money is the root of all evil", or that "money can't buy you happiness". It is therefore not surprising that most people make bad judgement calls when it comes to spending or investing their money funds.
I've always been dead set against any notion that money is a "bad" thing to have. In my opinion, anyone who thinks "money can't buy you happiness" either has a lack of it, or has never experienced what it is like to have excess funds and money resources that allows him/her to purchase material tangibles that can directly or indirectly make them happy because they're better off than without.
Robert Kiyosaki, author of Rich Dad, Poor Dad puts a nice perspective: it is the lack of money that is the root of all evil. Odd that there are people who actually feel guilty about having money in their hands, and one reprieve is to try to get rid of their excesses instead of thinking how to further increase their resources on the one hand, yet at the same time, they constantly fret and wonder why is it that they never seem to get enough of money—particularly at times when they face an urgent need to cough up cash or have liquidity issues.
Here's a thought: money is neutral. It is a tool, an instrument, and a vehicle to help you get from point to point in your life, and enables you to have more options when it comes to lifestyle choices.
Not surprising too, that in light of the current financial crisis, many people find themselves not having enough to spend even on daily necessities, and surveys have indicated more than half the working population in Singapore don't have emergency funds (normally benchmarked at three times of their current salaries). So if anything should happen, like getting retrenched or should they resign from their current jobs, people get stuck in embarrassing financial situations—and I see that in many clients, particularly those in the 20-30 year old age group: the young executives trying to make their mark in their careers, and too caught up chasing the 4Cs (condo, car, club membership and cash) that pretty much shapes your social status here in Singapore (or most of Asia).
We get too caught up in consumerism and material pursuits, and on the one hand, while we would like to accumulate wealth, on the other, we give in to flashy advertisements and commercials who tell you to spend now and worry about money issues later.
Note that while I say money can buy you happiness, I would like to emphasise the need for informed choices and smart money spending and investing. For many young consumers who just joined the working world, they seem to get the notion they are infallible—I'm young enough to continue working for a long time, so why not buy whatever I want? Interestingly, it's this 20-30 year old age group of consumers who have virtually no savings or investments in financial products that help them accumulate future spending power, and HR professionals will tell you that this is also the age group that face the prospect of facing their first job retrenchments within the first 5 years of their careers—a worrying thought, if you asked me.
But back to money notions and attitudes: I think one thing we need to recognise and acknowledge is that the concept of "being employed" as we know it has changed over the past decade, and job stability is no longer something we can be certain of, particularly in the past couple of years.
I'll be introducing a new series designed to help you with money management matters, and recommend strategies and tactics to help you better regain control of your finances and help you accumulate wealth.
The overall strategy looks like this:
- Eliminate debt quickly
- Leverage on CPF
- Ensure your future expenses are taken care of
- Build stability
- Include additional sources of income
I'm not promoting a get-rich quick scheme here, but rather, I'm offering a down-to-earth approach to accumulating and consolidating your wealth, and am targeting those with low or moderate risk tolerances. If you're interested to learn more, look out for posts tagged under "Money Management".
Wednesday, June 10, 2009
CNBC: Buying Stocks or Bonds is ‘Gambling’
Nobody should buy a stock and nobody should buy a bond, said John Bogle, founder and former CEO of The Vanguard Group.
“You’re betting on prices — you’re betting on buying them from those who don’t know how much they’re worth and selling them to somebody who thinks they’re worth more,” Bogle told CNBC.
“That’s speculation and it’s short term. It’s influenced and driven by supply and demand, and not by the worth of those companies whose value lies underneath that stock price.”
“You’re betting on prices — you’re betting on buying them from those who don’t know how much they’re worth and selling them to somebody who thinks they’re worth more,” Bogle told CNBC.
“That’s speculation and it’s short term. It’s influenced and driven by supply and demand, and not by the worth of those companies whose value lies underneath that stock price.”
Don't sweat the small stuff
The problem: mixed reactions in the market and uncertainty.
Our strategy view: Strengthen your bases and raid for occasional profits; adopt a wait-and-see strategy and focus on wealth accumulation in the mean-time.
In other words, look at instruments that help strengthen your financial base for the mid- to long-term (e.g. bonds, mutual funds and investment-linked insurance products) Real assets like property are also a good idea, especially given mortgage interest rates are still low at the moment, and should provide you some amount of leverage. Our take is that since investors in the market can’t seem to make up their minds at the moment, this is probably a good time for you to take a step back and focus on strengthening your mid- and long-term financial objectives—in other words, build future capabilities for yourself and accumulate your wealth.
It's essentially building a larger war-chest for the future when others are depleting their in current battles and taking even larger losses.
The problem is that many of us are so focused on short-term gains and profits and wave away the need to think about the mid- and long-term even though we know it’s important, and very often it’s the short-term focus that gets us stuck. I have to admit, the mid- and long-term view isn’t attractive, and certainly you don’t get to see the sexy returns, but given the current climate, planning for the future isn’t a bad idea after all.
Of course, that is not to say you can’t get a slice of the action that’s going on at the moment: sporadic “raids” would help you realise some short term gains. If stocks are something you’re staying off at the moment, try commodities, especially gold.
But the idea here is to remain focused for the mid- and long-term, strengthen (for some it’s re-build, even) your financial base, and pretty much wait for the market to sort itself out. Particularly for those of us who picture ourselves kicking off shoes, laying down on a tanning chair and sipping tequilas by the beach as the ideal lifestyle, it makes sense to think about protection and security for now until we get a better idea of where the market’s headed.
Our strategy view: Strengthen your bases and raid for occasional profits; adopt a wait-and-see strategy and focus on wealth accumulation in the mean-time.
In other words, look at instruments that help strengthen your financial base for the mid- to long-term (e.g. bonds, mutual funds and investment-linked insurance products) Real assets like property are also a good idea, especially given mortgage interest rates are still low at the moment, and should provide you some amount of leverage. Our take is that since investors in the market can’t seem to make up their minds at the moment, this is probably a good time for you to take a step back and focus on strengthening your mid- and long-term financial objectives—in other words, build future capabilities for yourself and accumulate your wealth.
It's essentially building a larger war-chest for the future when others are depleting their in current battles and taking even larger losses.
The problem is that many of us are so focused on short-term gains and profits and wave away the need to think about the mid- and long-term even though we know it’s important, and very often it’s the short-term focus that gets us stuck. I have to admit, the mid- and long-term view isn’t attractive, and certainly you don’t get to see the sexy returns, but given the current climate, planning for the future isn’t a bad idea after all.
Of course, that is not to say you can’t get a slice of the action that’s going on at the moment: sporadic “raids” would help you realise some short term gains. If stocks are something you’re staying off at the moment, try commodities, especially gold.
But the idea here is to remain focused for the mid- and long-term, strengthen (for some it’s re-build, even) your financial base, and pretty much wait for the market to sort itself out. Particularly for those of us who picture ourselves kicking off shoes, laying down on a tanning chair and sipping tequilas by the beach as the ideal lifestyle, it makes sense to think about protection and security for now until we get a better idea of where the market’s headed.
Wall Street gains capped by bond fears
NEW YORK: US stocks sputtered to a mixed finish on Tuesday as fears about rising interest rates that could hamper an economic recovery offset upbeat news from the tech sector.
The market also mulled the impact of news some major banks would be able to repay the government for capital injections, in another sign the financial system was stabilising.
The Dow Jones Industrial Average fell 1.43 points (0.02 percent) to close at 8,763.06 after a choppy session that saw swings in and out of positive territory.
The Nasdaq composite rose a solid 17.73 points (0.96 percent) to 1,860.13 and the Standard & Poor's 500 index edged up 3.29 points (0.35 percent) to 942.43.
The market gave a mixed response to a decision allowing 10 major US banks to repay the Treasury 68 billion dollars for capital injections made to stabilise the financial system.
"This is a clear signal that the government isn't intent on nationalising the banking system as was feared earlier this year," said Ed Yardeni at Yardeni Research.
"It also demonstrates that the government needs the money to shore up other financial institutions, but can't get any more funds from Congress."
But Elizabeth Harrow at Schaeffer's Investment Research said some traders were skeptical despite upbeat comments from Treasury Secretary Timothy Geithner.
"Geithner called the repayments 'an encouraging sign of financial repair,' but traders weren't so easily convinced," she said.
"Many sector heavyweights, including Bank of America and Citigroup, won't be eligible to start paying off Uncle Sam for at least five more months. In the interim, these banks will face tight government scrutiny."
The market remained worried on Tuesday about rising bond yields that could put pressure on interest rates kept at virtually zero levels to help boost economic activity and jolt the economy from prolonged recession.
"Interest rates, particularly between two-year and 10-year maturities, continue to drift up in anticipation of the huge supply of new paper coming to market and questions as to the willingness of foreign buyers to step in and pick up the new supply," said Fred Dickson at DA Davidson & Co.
"The recent rise in interest rates will place more pressure on the US deficit projections as it will cost more to fund government programmes."
Wall Street's worry on yields even eclipsed a better-than-expected mid-quarter update from Texas Instruments, a key semiconductor firm.
Bond prices ended mixed after a rocky session a day earlier. The yield on the 10-year Treasury bond fell to 3.858 percent from 3.889 percent on Monday and that on the 30-year bond rose to 4.653 percent from 4.635 percent. Bond yields and prices move in opposite directions.
Texas Instruments, which said late Monday that it expected higher sales and profits in the current quarter, jumped 6.3 percent to 21.02 dollars.
Banks that were allowed to repay their government aid were mixed.
Morgan Stanley fell 1.3 percent to 30.98 dollars, JPMorgan Chase was down 0.37 percent to 35.26 dollars and US Bancorp shed 0.93 percent to 18.18 dollars while BB&T was up 2.37 percent at 22.45 dollars and Capital One added 2.6 percent to 24.05 dollars. - AFP/de
The market also mulled the impact of news some major banks would be able to repay the government for capital injections, in another sign the financial system was stabilising.
The Dow Jones Industrial Average fell 1.43 points (0.02 percent) to close at 8,763.06 after a choppy session that saw swings in and out of positive territory.
The Nasdaq composite rose a solid 17.73 points (0.96 percent) to 1,860.13 and the Standard & Poor's 500 index edged up 3.29 points (0.35 percent) to 942.43.
The market gave a mixed response to a decision allowing 10 major US banks to repay the Treasury 68 billion dollars for capital injections made to stabilise the financial system.
"This is a clear signal that the government isn't intent on nationalising the banking system as was feared earlier this year," said Ed Yardeni at Yardeni Research.
"It also demonstrates that the government needs the money to shore up other financial institutions, but can't get any more funds from Congress."
But Elizabeth Harrow at Schaeffer's Investment Research said some traders were skeptical despite upbeat comments from Treasury Secretary Timothy Geithner.
"Geithner called the repayments 'an encouraging sign of financial repair,' but traders weren't so easily convinced," she said.
"Many sector heavyweights, including Bank of America and Citigroup, won't be eligible to start paying off Uncle Sam for at least five more months. In the interim, these banks will face tight government scrutiny."
The market remained worried on Tuesday about rising bond yields that could put pressure on interest rates kept at virtually zero levels to help boost economic activity and jolt the economy from prolonged recession.
"Interest rates, particularly between two-year and 10-year maturities, continue to drift up in anticipation of the huge supply of new paper coming to market and questions as to the willingness of foreign buyers to step in and pick up the new supply," said Fred Dickson at DA Davidson & Co.
"The recent rise in interest rates will place more pressure on the US deficit projections as it will cost more to fund government programmes."
Wall Street's worry on yields even eclipsed a better-than-expected mid-quarter update from Texas Instruments, a key semiconductor firm.
Bond prices ended mixed after a rocky session a day earlier. The yield on the 10-year Treasury bond fell to 3.858 percent from 3.889 percent on Monday and that on the 30-year bond rose to 4.653 percent from 4.635 percent. Bond yields and prices move in opposite directions.
Texas Instruments, which said late Monday that it expected higher sales and profits in the current quarter, jumped 6.3 percent to 21.02 dollars.
Banks that were allowed to repay their government aid were mixed.
Morgan Stanley fell 1.3 percent to 30.98 dollars, JPMorgan Chase was down 0.37 percent to 35.26 dollars and US Bancorp shed 0.93 percent to 18.18 dollars while BB&T was up 2.37 percent at 22.45 dollars and Capital One added 2.6 percent to 24.05 dollars. - AFP/de
Tuesday, June 9, 2009
Stocks reverse losses as commodities end off lows
AP - Tuesday, June 9
Excerpts:
"Stocks reversed steep losses in the final hour of trading Monday to end little changed. The Dow Jones Industrial average recovered from a 130-point slide to end up a little more than a point.The market spent much of the day falling along with commodities prices, but then regained ground as commodities came off their lows...
...Investors are betting that the Federal Reserve will have to hike interest rates later this year to counter the inflation that investors fear could accompany the government's huge debt sales.Overseas, Britain's FTSE 100 fell 0.8 percent, Germany's DAX index slid 1.4 percent, and France's CAC-40 dropped 1.5 percent. Japan's Nikkei stock average finished with a gain of 1 percent."
Saudis to create bond market
AFP - Sunday June 7
RIYADH, Saudi Arabia (AFP) - - Saudi Arabia's Capital Market Authority announced on Saturday that it will set up a market for debt issues to further develop the kingdom's capital markets.
RIYADH, Saudi Arabia (AFP) - - Saudi Arabia's Capital Market Authority announced on Saturday that it will set up a market for debt issues to further develop the kingdom's capital markets.
The stock market regulator said it would permit the formal issuance, trading, clearance and registration on the Tadawul exchange, which currently lists two debt issues traded over-the-counter.
It said Tadawul would be responsible for the details of setting up the market and when it would be ready for launch. No target date was given.
Industry officials cheered the measure, saying it would deepen the oil-rich kingdom's capital markets, especially in sukuk debt -- instruments compliant with Islamic sharia rules.
"The potential for debt instruments including sukuk is high now that the cost of financing has risen due to the crisis," said Ihsan Ali Bu-Hulaiga, chairman of Saudi investment bank Watan Investment.
"It is the begining of a new era ... There are companies waiting for this, waiting to break away from banks," he said.
Bu-Hulaiga said there is appetite from buyers who he expects will benefit more from sukuk bonds than the few other existing choices for savings.
"Sukuk bonds will allow savers to earn more," he said.
Monday, June 8, 2009
European Shares Fall as Economic Concerns Linger
Excerpt:
"European stock markets fell Monday as investors took advantage of a quiet start to the week to book profits and assess whether the sharp rally in equities over the last three months can continue.
In Europe, the FTSE 100 index in London was down 1.1 percent while Germany’s DAX fell 1.5 percent. The CAC-40 in France was 1.54 percent."
Singapore: Oversupply in retail space poses challenge.
Singapore real estate: Oversupply in retail space presents challenges
- Khalil Adis, Property Report
- Khalil Adis, Property Report
Singapore faces an impending oversupply in retail space with majority of the additional 5.8 million sq ft of space - expected between 2009 and 2013 - to be ready this year.
According to DTZ, approximately 3.5 million sq ft of retail space will come on stream this year with the bulk of it going to other city areas.
Supply of retail space in other city areas will be approximately 1.7 million sq ft whilst Orchard/Scotts Road and suburban areas will be approximately 1.3 million sq ft and 0.5 million sq ft respectively.
The bulk of the new supply is mainly due to the opening of three large malls in Orchard Road and the Marina Bay Sands Integrated Resort.
However, this new supply will present challenges for Singapore as the country is currently experiencing declining visitor arrivals whilst retailers face consumption cutbacks and landlords are concerned about securing occupancy.
Still, DTZ said the new supply, particularly in Orchard/Scotts Road is not excessive as it has been about a decade since the last major new development took place in the vicinity.
In addition, as prime retail space is a limited asset in Orchard Road, the new space would provide opportunity for new-to-Singapore retailers to get a foothold on the retail scene.
DTZ also said this new supply is necessary for premier shopping belt like Orchard Road “to be rejuvenated with new malls, new retail concepts and new-to-market brands to maintain its status as a world leading shopping destination”, in light of growing competition from cities in the region.
While guests staying in nearby hotels are the main catchment for the Orchard/Scotts Road area, a large catchment of retail space in other city areas will come from the working population in the area.
Office space in the area accounts for about 63 percent of islandwide office space.
Meanwhile, the new supply in suburban areas is due to residents´ needs for more retail space or an integral part of large-scale commercial and recreational developments.
However, the success of these new malls would be at the expense of HDB shops and old strata-titled malls, which are not near to MRT stations or public housing estates.
On the overall, Singapore´s retail space per capita is much lower compared to Hong Kong´s.
In fact, DTZ notes there has been a decrease in Singapore´s total retail space per capita, taking into account an average population growth of 2.3 percent annually in the last ten years.
DTZ expects Singapore’s total retail space per capita in 2013 to fall further to 10.0 sq ft from the 10.1 sq ft in 2008 and 10.6 sq ft in 2007, taking into account population growth and potential supply in 2009 to 2013.
According to DTZ, approximately 3.5 million sq ft of retail space will come on stream this year with the bulk of it going to other city areas.
Supply of retail space in other city areas will be approximately 1.7 million sq ft whilst Orchard/Scotts Road and suburban areas will be approximately 1.3 million sq ft and 0.5 million sq ft respectively.
The bulk of the new supply is mainly due to the opening of three large malls in Orchard Road and the Marina Bay Sands Integrated Resort.
However, this new supply will present challenges for Singapore as the country is currently experiencing declining visitor arrivals whilst retailers face consumption cutbacks and landlords are concerned about securing occupancy.
Still, DTZ said the new supply, particularly in Orchard/Scotts Road is not excessive as it has been about a decade since the last major new development took place in the vicinity.
In addition, as prime retail space is a limited asset in Orchard Road, the new space would provide opportunity for new-to-Singapore retailers to get a foothold on the retail scene.
DTZ also said this new supply is necessary for premier shopping belt like Orchard Road “to be rejuvenated with new malls, new retail concepts and new-to-market brands to maintain its status as a world leading shopping destination”, in light of growing competition from cities in the region.
While guests staying in nearby hotels are the main catchment for the Orchard/Scotts Road area, a large catchment of retail space in other city areas will come from the working population in the area.
Office space in the area accounts for about 63 percent of islandwide office space.
Meanwhile, the new supply in suburban areas is due to residents´ needs for more retail space or an integral part of large-scale commercial and recreational developments.
However, the success of these new malls would be at the expense of HDB shops and old strata-titled malls, which are not near to MRT stations or public housing estates.
On the overall, Singapore´s retail space per capita is much lower compared to Hong Kong´s.
In fact, DTZ notes there has been a decrease in Singapore´s total retail space per capita, taking into account an average population growth of 2.3 percent annually in the last ten years.
DTZ expects Singapore’s total retail space per capita in 2013 to fall further to 10.0 sq ft from the 10.1 sq ft in 2008 and 10.6 sq ft in 2007, taking into account population growth and potential supply in 2009 to 2013.
Friday, June 5, 2009
Are Private Bankers Too Young?
[Article from eFinancialCareers Singapore, 3 June 2009]
The stereotype of the private banker in Asia is not the grey-headed Swiss-style industry veteran, but the attractive young charmer. Although banks have very recently been scrambling for senior relationship managers, their former hiring polices have created a largely youthful wealth-management workforce.
Just ask headhunters, many of whom say that in Singapore they have dealt with fully fledged private bankers in their late 20s or early 30s. These people would probably have been junior bankers if they were working in Europe.
“Private bankers do seem to be younger here than their counterparts in other parts of the world,” says Singapore-based Deborah Sawyer, managing partner of search firm Odgers Berndtson.
So why are private bankers so fresh faced? Despite the intense competition that graduates are under when applying for a private banking job in Singapore, recruiters estimate that banks there have made more than 300 entry-level hires in the past two to three years. And firms such as Credit Suisse run wealth management training programmes in the city state.
Another reason for the age differential is because large private banks like UBS took on lesser-experienced "privilege" bankers in an effort to boost their Asian headcounts during the 2005-2007 boom.
“They’re customer bankers or relationship managers at branches and they are promoted to handling premium customers and then they work their way up,” explains Annie Yap, founder of search firm AYP Associates.
Is having a young headcount such a bad thing? The policy has backfired on the likes of UBS which has had to cull those former privilege bankers who failed to make the grade. Now firms like Credit Suisse and Standard Chartered are demanding experienced professionals with bulging books of clients.
But private bankers defend their trade. Only top graduates are recruited into wealth management trainee programmes, so there is quality control.
"We do hire bright, young talent whom we train for various functions, including our three-year analyst programme. But we also have senior, highly experienced, battle-tested bankers who have seen the ups and downs of the market," says Morgan Stanley’s managing director of its private wealth management business in South-east Asia, Tan Su Shan.
The stereotype of the private banker in Asia is not the grey-headed Swiss-style industry veteran, but the attractive young charmer. Although banks have very recently been scrambling for senior relationship managers, their former hiring polices have created a largely youthful wealth-management workforce.
Just ask headhunters, many of whom say that in Singapore they have dealt with fully fledged private bankers in their late 20s or early 30s. These people would probably have been junior bankers if they were working in Europe.
“Private bankers do seem to be younger here than their counterparts in other parts of the world,” says Singapore-based Deborah Sawyer, managing partner of search firm Odgers Berndtson.
So why are private bankers so fresh faced? Despite the intense competition that graduates are under when applying for a private banking job in Singapore, recruiters estimate that banks there have made more than 300 entry-level hires in the past two to three years. And firms such as Credit Suisse run wealth management training programmes in the city state.
Another reason for the age differential is because large private banks like UBS took on lesser-experienced "privilege" bankers in an effort to boost their Asian headcounts during the 2005-2007 boom.
“They’re customer bankers or relationship managers at branches and they are promoted to handling premium customers and then they work their way up,” explains Annie Yap, founder of search firm AYP Associates.
Is having a young headcount such a bad thing? The policy has backfired on the likes of UBS which has had to cull those former privilege bankers who failed to make the grade. Now firms like Credit Suisse and Standard Chartered are demanding experienced professionals with bulging books of clients.
But private bankers defend their trade. Only top graduates are recruited into wealth management trainee programmes, so there is quality control.
"We do hire bright, young talent whom we train for various functions, including our three-year analyst programme. But we also have senior, highly experienced, battle-tested bankers who have seen the ups and downs of the market," says Morgan Stanley’s managing director of its private wealth management business in South-east Asia, Tan Su Shan.
Dollar Crisis Ahead?
Jim Rogers, chairman of Rogers Holdings in an interview with CBNC is of the opinion a currency crisis is looming, and investors should avoid shorting the market. Rogers: the US currency is terribly "flawed", and investors should buy "hard" or real assets.(See clip below)
Thursday, June 4, 2009
Reuters: ING Real Estate takes over $772m Asian fund
SINGAPORE, June 1 (Reuters) - Dutch financial group ING's real estate arm said on Monday it had taken control of a $772 million real estate fund from a Japanese manager, boosting its Asian assets by nearly 20 percent.
The closed-end New City Asia Opportunity Fund, which owns mostly Chinese, Japanese and South Korean assets, will be renamed the Phoenix Real Estate Fund, ING Real Estate Investment said in a statement.
With the takeover, ING Real Estate's assets under management in Asia will rise to $4.97 billion from around $4.2 billion.
The New City Asia fund was previously managed by Tokyo-based New City Corp.
CNBC: As Dollar Takes Tumble, Here's What Investors Can Do
Excerpts:
Full story here.
"With weakness in the dollar expected to continue, investors are rethinking their plans across virtually the entire spectrum of asset classes.
As would be expected with a declining US currency, commodities are soaring, both in the materials themselves and the companies dependent on them.
But the stock market is in a dilemma: The modestly weakened dollar generally helps equities, but a severe downturn in the greenback can be bad.
And investors looking for safe-haven in bonds have to weigh whether the dollar's devaluation—brought on by the government buying up its own debt—presents enough opportunity in yield to outweigh inflation fears."
"Stocks
The currency's fall has been beneficial to the market so far because it generates inflationary pressure on the weak economy. But too much of a drop and investors will get skittish about the state of the US government and stocks will react likewise.
The dollar index has slipped 12 percent since March 9, when the stock market hit its most recent low. Since then, stocks have rebounded sharply, and government moves would seem to indicate that a weak-dollar policy is firmly in place—at least in part to boost the corporate fortunes and thus Wall Street.
That has generated worry, though, that there seems to be no end in sight to government moves that effectively drive down the currency's worth, setting off a dollar bubble that could ultimately pummel if not the entire market, then at least particular key sectors.
In the midst of a general uncertainty about stocks, investors are looking for other areas to put their money."
"Commodities
If there's a slam-dunk consensus play emerging from portfolio managers, it is the commodities trade.
In fact, Lynx this week launched a global real asset fund which trades in four commodities: timber gold, water and oil.
"Gold is getting close to a record high. It will be interesting to see how these factors sort themselves out," Rich Berg, CEO at Performance Trust Capital Partners, told CNBC. "We're very perplexed with the level of the stock market...I hate to get in the way but we're very nervous about current valuations."
"Treasurys
Because the government has financed so much debt with Treasurys and will continue to do so, investors are staying away from bonds until yields rise further. It's presented a Catch-22 for the government which has been trying to drive up prices so it has to pay less in yields.
Yet the investor trend has been to stay on the short-end of the yield curve, with big foreign investors such as China buying mostly 2-year notes and avoiding long-term commitments to the US.
Some attribute the various stock rallies over the past three months to technical trading, with computer-generated buy points sending people into stocks regardless of the fundamentals. A strong swoon in the dollar is something that could change that mentality.
A rise in yields also would drive investors out of stocks and into Treasurys."
Full story here.
Wednesday, June 3, 2009
The Fiorenza, Singapore
Project name: The Fiorenza
Location: Florence Road, Singapore (District 19)
Tenure: 99 (Leasehold)
Total no. of units: 28
Developer: Koh Brothers Development Pte Ltd
Expected Date of Legal Completion: Dec 2015
Foreigners Eligible: Yes
Unit Types:
Location: Florence Road, Singapore (District 19)
Tenure: 99 (Leasehold)
Total no. of units: 28
Developer: Koh Brothers Development Pte Ltd
Expected Date of Legal Completion: Dec 2015
Foreigners Eligible: Yes
Unit Types:
- Type A (2 bedrooms) - 839 sq ft - 6 units
- Type B (3 bedrooms) - 1184 sq ft - 6 units
- Type B1 (3 bedrooms) - 1184 sq ft - 2 units
- Type C (3+1 bedrooms) - 1345 sq ft - 6 units
- Type C1 (3+1 bedrooms) - 1421 sq ft - 1 unit
- Type C1 (3+1 bedrooms) - 1442 sq ft - 1 unit
- Penthouse A (2 bedrooms) - 1378 sq ft - 2 units
- Penthouse B (3 bedrooms) - 1453 sq ft - 2 units
- Penthouse C (3+1 bedrooms) - 1851 sq ft - 2 units
Facilities: Full condominium facilities - swimming pool, jacuzzi, , sauna, BBQ pits, playground, 24-hour security, basement carpark
Description:
- Inspired by Italian culture, the exclusive 28-unit Fiorenza is ideal for those who delight in the mischievous and sensous.
- Ideal for young families or the trendy executive, the Fiorenza is a home that offers bold artistic tastes, unrestrained luxury and a free-spirited lifestyle.
- Every home features a Jacuzzi on the open balcony.
- Minutes away from amenities like Hougang Mall, Serangoon Gardens, Chomp Chomp Food Centre, and proximity to Kovan MRT and Hougang MRT, as well as schools like Roysth, Holy Innocents' Primary and Xinmin Primary School.
Call 9225 3581 to arrange for a viewing.
Tuesday, June 2, 2009
Singapore: 512 two- and three-room flats on offer at Sengkang's Fernvale Crest
Excerpt:
Nearly 75 per cent of flats on offer at a new Build-To-Order (BTO) project are two- and three-room flats.
The Housing & Development Board (HDB) said the 700-unit development, Fernvale Crest at Sengkang, comprises 512 two- and three-room flats.
HDB said this is the largest number and proportion of smaller flats offered for sale in a BTO project.
read more here.
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