Singapore Watch

Work in Progress …

July 31, 2007
Do you really understand structured products?
Larry Haverkamp (Doc Money) analyzes Pinnacle Notes, and doesn’t encourage it.

Sep 15, 2008
What will happen to my Lehman Minibond?
There are a few possible scenarios:
1) There is no bailout and Lehman Brothers goes under
2) Lehman gets taken over by another party which assumes their Minibond Obligations
3) Lehman gets taken over by another party which does not assume their Minibond Obligations

Sep 18, 2008, The Straits Times
DBS High Notes investors at risk
Bank warns they may lose entire stake in Lehman-linked product
By Francis Chan

SOME local investors of a product linked to bankrupt investment giant Lehman Brothers have received late-night phone calls from DBS Bank warning them that their entire stake may be wiped out. The investors have their cash in a product called DBS High Notes 5 that the bank offered wealthier clients last year. It came with a promised annual return of about 5 per cent.

But Lehman’s collapse on Monday means the product will be unwound and investors may only get a portion of their investment back - or none at all.

Lehman Brothers could not be rescued in time, and thus had to declare for bankruptcy, sparking off a credit event.

Sep 16, 2008
Comments by MAS Spokesperson on Lehman Brothers

Sep 17, 2008
Comments by MAS Spokesperson on Lehman Brothers Minibond Programme

Sep 19, 2008
Minibonds Update
Many people have been asking why their Minibond capital is affected by the bankruptcy of Lehman Brothers when it is not one of the reference entities. I think a picture would explain this relationship very clearly.
The Sound of Silence - Is our PM competent?
PM Lee takes the effort to mention “clearing tables and returning food trays” during his NDP Speech, yet remains silent on effects as big as Mas Selamat escaping, and now, thousands of investors losing millions.
Putting it in another way, by the sound of (PM’s) silence (on national crises), we know we have overpaid an incompetent leader to be at the top.

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So Obama won a landslide victory.
Most consider it a watershed moment:
The first (half)black President of America!

I’m glad for the US Presidential Election.
It’s what spark off the short-term stock ‘emotional’ rally.
I don’t expect it to continue for long.

And of course it pays to listen to your stock broker.
Sold off some shares today.
Bought them for $4.1k, made $600+ …
Essentially, I made 15% in less than a month!

The market will fall more.
It’s really a great time for a new investor!
I’m slowly buying stocks at levels I find reasonable.
Holding out for it to tank some more before I go in again.

“Be fearful when others are greedy,
and be greedy when others are fearful.”
– Warren Buffet

This is an ongoing series of book reviews - in parts, on money-related books.

The first is this series is called America’s Cheapest Family - Gets You Right on Money by Steve and Annette Economides. According to them, this is the guide to living better, spending less, and chasing in on your dreams!

Here’s what they have accomplished so far:

- Paid off a house in 9 years on limited income (average income approx $35k/yr)
- Paid cash for all their cars
- Remodeled kitchen without a home equity loan
- Enjoyed fabulous debt-free vacations
- Fed a growing family (of 2+5) on a grocery budget of $350/mth
- Put savings in the bank!

On Vacations

Vacations should be events that build positive interactions and create long-lasting, fun-filled memories, not short weeks that stress you out because they’re breaking the bank.

Consider being a tourist in your own state (country). Pick up a guide book and look up places you can visit and day tours you can go for. Many museums select one day each month to be free to the public. You’ll be amazed at the wide array of options available.

Home Recreation Ideas:

- Make it Thanksgiving in July! Enjoy a complete turkey dinner for the family
- Borrow/Rent Movies, maybe even an odie, prepare popcorn and pretend you’re in a cinema
- Go Bowling. Some alleys have discounted rates. Check out the times
- Try backyard Camping. If you don’t have a backyard, camp out in the living room.
- Go to discount theaters.
- Enjoy Game Days. Pull out all your board & card games and have fun with them.
- Have Christmas in July! Do some Christmas shopping at thift stores
[Editor's note: Going to Daiso might work for this one.]
- Take a Free Tour
[Editor's note: There are guided map tours for areas around town]

Edu-Vacation:
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This is an ongoing series of book reviews - in parts, on money-related books.

The first is this series is called America’s Cheapest Family - Gets You Right on Money by Steve and Annette Economides. According to them, this is the guide to living better, spending less, and chasing in on your dreams!

Here’s what they have accomplished so far:

- Paid off a house in 9 years on limited income (average income approx $35k/yr)
- Paid cash for all their cars
- Remodeled kitchen without a home equity loan
- Enjoyed fabulous debt-free vacations
- Fed a growing family (of 2+5) on a grocery budget of $350/mth
- Put savings in the bank!

On Staying Healthy

- Drink lots of water
- If someone is sick in the house, wipe down all commonly used objects with disinfectant (eg. doorknob, light switches, telephones etc.)
- Wash your hands when you return home from outside
- Get 10-15 minutes sunshine a day so your body can produce beneficial Vitamin D
- Exercise
- Bleach can work wonders killing germs
- Consider Herbs and Natural Remedies.
(check out Prescription for Nutritional Healing by Phyllis Balch)
- Avoid Antibiotics. They are expensive and kill both good and bad bacteria.
- Keep your bowels operating.
- Be a leaner. If your kid has asthma, become a asthma expert.
- Book it. Start reading up and invest in your own well-being.

On Entertainment & Recreation

Having fun doesn’t have to cost a bomb. Steve and Annette are convinced that meaningful memories can be created with little or no cost if you know where to look.

Holiday Recreations

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This is an ongoing series of book reviews - in parts, on money-related books.

The first is this series is called America’s Cheapest Family - Gets You Right on Money by Steve and Annette Economides. According to them, this is the guide to living better, spending less, and chasing in on your dreams!

Here’s what they have accomplished so far:

- Paid off a house in 9 years on limited income (average income approx $35k/yr)
- Paid cash for all their cars
- Remodeled kitchen without a home equity loan
- Enjoyed fabulous debt-free vacations
- Fed a growing family (of 2+5) on a grocery budget of $350/mth
- Put savings in the bank!

On Debt

If all the outstanding credit card debt were to be divided among the households in America, the average household would carry $7,200 in debt, while on average, each adult carries 4.78 credit cards per adult! This has resulted in 718,107 bankruptcies in 1990, and 2 million bankruptcies by 2005!

Steve and Annette proposes 9 steps to get you out of debt for good!

1. Acknowledge. With any recovery plan, the first step is to acknowledge you have a problem.

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