Friday, February 27, 2009
Thursday, February 26, 2009
Wednesday, February 25, 2009
4:32 pm - Man Fund Talk next week !
Dear Traders Club member,
Your chance to meet Mr Sam Gibson of Man Investments to answer any of your questions as well as the CIO of Phillip Capital Mgt Mr Ang Kok Heng at an exclusive Investment Seminar Talk organised by Phillip Capital Management Sdn Bhd.
You are cordially invited to learn how to enhance your portfolio
Details of the talk are as below:
Date : 3 March 2009 (Tuesday)
Time : 7.00pm - 9.45pm
Venue : Westside Room 1, 2 & 3, Level 8,
Boulevard Hotel, Mid Valley City,
Lingkaran Syed Putra,
59200 Kuala Lumpur (See map attached)
7.00 pm Registration
7.30 pm Alternative Investment Opportunities Through Man Investment
by Mr Sam Gibson of MAN Investment
8.30 pm BREAK*
8.45 pm Trend Following CTA
by Mr Ang Kok Heng, Chief Investment Officer of Phillip Capital Management Sdn Bhd
9.45 pm Question and Answer Session
Please RSVP to myself at 012 685 1207or Susan at 03-2783 0300 or e-mail susan@poems.com.my to register as only limited seats are available. This seminar is free of charge.
Thank you.
Warmest regards,
Bill and Martin
012 685 1207
Your chance to meet Mr Sam Gibson of Man Investments to answer any of your questions as well as the CIO of Phillip Capital Mgt Mr Ang Kok Heng at an exclusive Investment Seminar Talk organised by Phillip Capital Management Sdn Bhd.
You are cordially invited to learn how to enhance your portfolio
Details of the talk are as below:
Date : 3 March 2009 (Tuesday)
Time : 7.00pm - 9.45pm
Venue : Westside Room 1, 2 & 3, Level 8,
Boulevard Hotel, Mid Valley City,
Lingkaran Syed Putra,
59200 Kuala Lumpur (See map attached)
7.00 pm Registration
7.30 pm Alternative Investment Opportunities Through Man Investment
by Mr Sam Gibson of MAN Investment
8.30 pm BREAK*
8.45 pm Trend Following CTA
by Mr Ang Kok Heng, Chief Investment Officer of Phillip Capital Management Sdn Bhd
9.45 pm Question and Answer Session
Please RSVP to myself at 012 685 1207or Susan at 03-2783 0300 or e-mail susan@poems.com.my to register as only limited seats are available. This seminar is free of charge.
Thank you.
Warmest regards,
Bill and Martin
012 685 1207
Tuesday, February 24, 2009
Monday, February 23, 2009
10:04 am - Market Report by Bill Wermine
Dear Traders,
Just returned from Singapore for a business/pleasure trip via Air Asia. Singapore is in a major slowdown because of exposure to the banking and finance industry. Thousands of workers are jobless- there are major department store sales on Orchard Road where we stayed in the Holiday Villa Park View. I bought some high quality Berkshire shirts- I am not sure if this is Warren Buffet's shirt company ? - for a 70 % discount.
Even so customer traffic is light and sales ladies are so agressive to pull you into their shops and get angry if you dont buy. Even traffic at the Singapore zoo was light- only a 3 minute wait to buy a ticket. There were more animals than tourists. The animals however were impressive- including 2 white tigers, pygmy hippos, a polar bear and a herd of mongooses.
The facility was well managed, very clean and very helpful zoo keepers. One explained to me there are only 5000 wild tigers left in the whole planet while in 1900 there were over 200,000. Many of the animals in the zoo are endangered and becoming more endangered due to human greed, pollution and global warming.
I think our world financial system has become disfunctional due to human greed, corruption, mismanagement much as the animal kingdom has been plundered. The zoo had a picture of the last Australian Tazmanian Tiger who became extinct in 1931.
when he died in the Brisbane zoo.
It looks like some major banks, insurance and auto companies such as GM may soon become extinct for the same reasons that so many animal species became extinct.
I met with Tim Peach of Man Investments to get answers to those of you who have concerns.
Bottom line: Your capital guarantee is safe as your money is protected by the AUD government bank deposit scheme. The AUD banks just as Malaysian banks are not involved in credit derivatives, sub prime mortages and the pyramid scheme products that have collapsed the financial house of cards in Europe and the US.
He also explained in detail that Man should perform well in 2009 if everything else goes down the drain.
I had the pleasure to meet with Mr Lim who is the chairman of Phillip Capital. who explained in a simple way how this financial disaster happened and what to expect in the months ahead. He said there will be trading opportunities. He also said if we buy any shares they must have strong cash flow be the strongest of the strong with long term track records- There willbe sharp rallies within the context of the world bear market.
In our next Traders club will share his insights.
Although almost everything in Singapore is on sale there is one thing that is not: I tried to buy some gold maple leafs, Kruger rands and the gold shops are refusing to sell. They say the gold coins in the display case are only for display and not for sale !
Hold on to your gold, it will be very volatile and we may see more upside in weeks ahead.
Have a good week ahead
Bill
Just returned from Singapore for a business/pleasure trip via Air Asia. Singapore is in a major slowdown because of exposure to the banking and finance industry. Thousands of workers are jobless- there are major department store sales on Orchard Road where we stayed in the Holiday Villa Park View. I bought some high quality Berkshire shirts- I am not sure if this is Warren Buffet's shirt company ? - for a 70 % discount.
Even so customer traffic is light and sales ladies are so agressive to pull you into their shops and get angry if you dont buy. Even traffic at the Singapore zoo was light- only a 3 minute wait to buy a ticket. There were more animals than tourists. The animals however were impressive- including 2 white tigers, pygmy hippos, a polar bear and a herd of mongooses.
The facility was well managed, very clean and very helpful zoo keepers. One explained to me there are only 5000 wild tigers left in the whole planet while in 1900 there were over 200,000. Many of the animals in the zoo are endangered and becoming more endangered due to human greed, pollution and global warming.
I think our world financial system has become disfunctional due to human greed, corruption, mismanagement much as the animal kingdom has been plundered. The zoo had a picture of the last Australian Tazmanian Tiger who became extinct in 1931.
when he died in the Brisbane zoo.
It looks like some major banks, insurance and auto companies such as GM may soon become extinct for the same reasons that so many animal species became extinct.
I met with Tim Peach of Man Investments to get answers to those of you who have concerns.
Bottom line: Your capital guarantee is safe as your money is protected by the AUD government bank deposit scheme. The AUD banks just as Malaysian banks are not involved in credit derivatives, sub prime mortages and the pyramid scheme products that have collapsed the financial house of cards in Europe and the US.
He also explained in detail that Man should perform well in 2009 if everything else goes down the drain.
I had the pleasure to meet with Mr Lim who is the chairman of Phillip Capital. who explained in a simple way how this financial disaster happened and what to expect in the months ahead. He said there will be trading opportunities. He also said if we buy any shares they must have strong cash flow be the strongest of the strong with long term track records- There willbe sharp rallies within the context of the world bear market.
In our next Traders club will share his insights.
Although almost everything in Singapore is on sale there is one thing that is not: I tried to buy some gold maple leafs, Kruger rands and the gold shops are refusing to sell. They say the gold coins in the display case are only for display and not for sale !
Hold on to your gold, it will be very volatile and we may see more upside in weeks ahead.
Have a good week ahead
Bill
Saturday, February 21, 2009
8:13 am - US Stocks slide due to Bank.
By Geoffrey Rogow Of DOW JONES NEWSWIRESNEW YORK (Dow Jones)--
Stocks limped their way through Friday's session, with the usual suspects in theDow Jones Industrial Average pushing the bellwether index even further past its bear-market lows.Leading the decliners Friday in the Dow were Citigroup, off 56 cents, or 22%, to 1.95; Bank of America,down 14 cents, or 3.6%, to 3.79; General Electric, down 68 cents, or 6.8%, to 9.38; and General Motors,off 23 cents, or 12%, to 1.77. Overall, five of the 30 Dow components now trade below $10, a previouslyincomprehensible development, with traders saying the idea that buying large company stocks in and ofitself would keep them safe has broken.Despite finishing lower, large banks closed well above their lows of the day. Comments from the WhiteHouse that it wishes to see banks remain in private hands helped pare some declines, though talk of nationalizationstill dominates. Few were willing to hold onto a bank stock over the weekend.
The Financial Select Sector SPDR Fund closed down 1.5% at 7.44, after hitting a low point of 6.85 on the session.Traders have largely bemoaned any nationalization plan, noting that while such a move could benefit shareholderslong-term, should banks' financial assets continue to deteriorate there is an argument that the capitalbasis could evaporate to the point that shareholders would be left with nothing.Not to be ignored for banking stocks was the continued crowd into a "fear trade." Gold prices hit $1,000an ounce early in the session, while Treasury securities gained throughout the day's trade.For equities, the fear trade isn't just to sell stocks but to bet on a decline. Notably, puts, or theright to sell banking stocks, have ratcheted up for the better part of a month. Moreover, short-interestlevels for banking stocks such as Citigroup, Bank of America and even General Electric have moved higherin the past two weeks."It's basically impossibly hard to call a bottom for bank stocks," said Craig Peckham, equity tradingstrategist with Jefferies. "And with the inability of the marketplace to pinpoint any base value forbanks, the loss story and capital-erosion picture continues to drive shorts."Overall, the Dow closed down 100.28 points, or 1.34%, at 7365.67, bouncing back from a midday slide below its October 2002 closing low of 7286.27.While the Dow Jones Industrial Average already hit a more than five-year low, the Standard & Poor's indexgot perilously close and then bounced for part of the afternoon. The S&P 500 Index closed down 8.89,or 1.14%, at 770.05 after hitting a low of 754.23, near its November closing low of roughly 752.The Dow closed the week down 484.74 points, or 6.17%, while the S&P 500 slid 56.79, or 6.87%. The declinefor the Dow was its worst week since the week ended Oct. 10.The Nasdaq Composite Index closed Friday down 1.59 points, or 0.11%, at 1441.23, finishing the week down 93.13, or 6.07%.Further hurting the broad indexes, General Electric, the industrial bellwether that also has large financialexposure, closed under $10 for the first time since Sept. 11, 1995.GE shares have been battered along with the banks and are off 42% for the year to date, with balance-sheet concerns driving much of the slide.Small-cap General Motors was the second-worst performer on the Dow as worries continued over the company's latest recovery plan won't work.Still, despite the broad indexes' moves below November levels, other market indicators have not followedsuit. Notably, the CBOE Market Volatility Index closed up 4.9% at 49.37, well off its November highsYou can use this link on the day this article is published and the following day.-0-Copyright (c) 2009 Dow Jones & Company, Inc.
Stocks limped their way through Friday's session, with the usual suspects in theDow Jones Industrial Average pushing the bellwether index even further past its bear-market lows.Leading the decliners Friday in the Dow were Citigroup, off 56 cents, or 22%, to 1.95; Bank of America,down 14 cents, or 3.6%, to 3.79; General Electric, down 68 cents, or 6.8%, to 9.38; and General Motors,off 23 cents, or 12%, to 1.77. Overall, five of the 30 Dow components now trade below $10, a previouslyincomprehensible development, with traders saying the idea that buying large company stocks in and ofitself would keep them safe has broken.Despite finishing lower, large banks closed well above their lows of the day. Comments from the WhiteHouse that it wishes to see banks remain in private hands helped pare some declines, though talk of nationalizationstill dominates. Few were willing to hold onto a bank stock over the weekend.
The Financial Select Sector SPDR Fund closed down 1.5% at 7.44, after hitting a low point of 6.85 on the session.Traders have largely bemoaned any nationalization plan, noting that while such a move could benefit shareholderslong-term, should banks' financial assets continue to deteriorate there is an argument that the capitalbasis could evaporate to the point that shareholders would be left with nothing.Not to be ignored for banking stocks was the continued crowd into a "fear trade." Gold prices hit $1,000an ounce early in the session, while Treasury securities gained throughout the day's trade.For equities, the fear trade isn't just to sell stocks but to bet on a decline. Notably, puts, or theright to sell banking stocks, have ratcheted up for the better part of a month. Moreover, short-interestlevels for banking stocks such as Citigroup, Bank of America and even General Electric have moved higherin the past two weeks."It's basically impossibly hard to call a bottom for bank stocks," said Craig Peckham, equity tradingstrategist with Jefferies. "And with the inability of the marketplace to pinpoint any base value forbanks, the loss story and capital-erosion picture continues to drive shorts."Overall, the Dow closed down 100.28 points, or 1.34%, at 7365.67, bouncing back from a midday slide below its October 2002 closing low of 7286.27.While the Dow Jones Industrial Average already hit a more than five-year low, the Standard & Poor's indexgot perilously close and then bounced for part of the afternoon. The S&P 500 Index closed down 8.89,or 1.14%, at 770.05 after hitting a low of 754.23, near its November closing low of roughly 752.The Dow closed the week down 484.74 points, or 6.17%, while the S&P 500 slid 56.79, or 6.87%. The declinefor the Dow was its worst week since the week ended Oct. 10.The Nasdaq Composite Index closed Friday down 1.59 points, or 0.11%, at 1441.23, finishing the week down 93.13, or 6.07%.Further hurting the broad indexes, General Electric, the industrial bellwether that also has large financialexposure, closed under $10 for the first time since Sept. 11, 1995.GE shares have been battered along with the banks and are off 42% for the year to date, with balance-sheet concerns driving much of the slide.Small-cap General Motors was the second-worst performer on the Dow as worries continued over the company's latest recovery plan won't work.Still, despite the broad indexes' moves below November levels, other market indicators have not followedsuit. Notably, the CBOE Market Volatility Index closed up 4.9% at 49.37, well off its November highsYou can use this link on the day this article is published and the following day.-0-Copyright (c) 2009 Dow Jones & Company, Inc.
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