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Thread: 1997 --> 2007 --->> 2017

  1. #1
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    1997 --> 2007 --->> 2017

    July, 1997
    Hong Kong was back to her mama after 100 years kidnapped by kwai loh. On the same month, Asian financial crisis started from Thai Baht speculation crisis. At that time, I was too young, too poor and too blur to capitialize the opportunities… and also no time.

    July 2007
    10 years after 1997 Asian financial crisi, Dow Jones climbed to the height of 14000 points. Several months later, Lehman Brothers closed shop and triggered the sub-prime shockwaves. In less than 15 months, Dow Jones dived to 6547 point, i.e. 53% of the market capitalisation of July 2007 was evaporated !! Similar blood bath were witnessed elsewhere like in HK and KL. At that time, I wasn't too young, still poor but less blur... So, managed to do something from the crisis but no big deal, just some little bread crumbs...


    Now, July 2017, can history repeat ??
    Simpletons are the majority in a society. Donít argue with them as they cannot comprehend they actually have a smaller brain sizeÖ.

  2. #2
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    Aren't we glad someone invented credit.

    IMO, the conservative ones must also start borrowing.
    " In the land of the blind the one-eyed-jack is king."

  3. #3
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    One thing for sure, people borrow more money now to sustain their lifestyle especially in developed countries.

    Just look at OECD countries. For example, Australia's household debt to GDP is more than 200% !! Australia is the country with fourth highest (212%) debt to GDP, Holland is the 2nd highest with 277%, after Denmark (292%).

    I guess australia will soon become another holan ....

    https://data.oecd.org/hha/household-debt.htm


    Btw, malaysia household debt to GDP is 89%. OMG, I thought here is tough already..
    Simpletons are the majority in a society. Donít argue with them as they cannot comprehend they actually have a smaller brain sizeÖ.

  4. #4
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    Those currently with little or no debt must not sit on their money in the bank. Nothing venture nothing gain. Of course there will be risks. You won't get something for nothing.

    In the end it is a combination of money and guts. $ but no guts = useless. Guts but no $ is also useless. So, good luck in multiplying your $.
    " In the land of the blind the one-eyed-jack is king."

  5. #5
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    Quote Originally Posted by Henry T View Post
    .. Nothing venture nothing gain..
    True... but first thing first is one should know the threshold..

    When you are in a level that allow you to take less risk and this less risk approach also enable you to sustain a simple life, it is wiser not to take "extra" risk..

    It is better not to be richer than become poorer.... and it's a lot more easier to become poorer than richer...
    Simpletons are the majority in a society. Donít argue with them as they cannot comprehend they actually have a smaller brain sizeÖ.

  6. #6
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    Someone told me this long ago, to divide your fortune three ways.

    1/3 in properties
    1/3 in equities
    1/3 in cash

    IMO, it is pretty sound advice.
    " In the land of the blind the one-eyed-jack is king."

  7. #7
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    I think, when one gets older and reaching retirement age, the safer distribution would be :

    - 10% in equities
    - 30% in properties
    - 60% in fixed-income instruments (including retirement fund)
    Simpletons are the majority in a society. Donít argue with them as they cannot comprehend they actually have a smaller brain sizeÖ.

  8. #8
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    1997 USD1=MYR3.8
    2007 USD1=MYR 3.2(?)
    2017 USD1=MYR 4.3
    And some moron just said MYR is the best performing South East Asian currency

  9. #9
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    Quote Originally Posted by cskok8 View Post
    1997 USD1=MYR3.8
    2007 USD1=MYR 3.2(?)
    2017 USD1=MYR 4.3
    And some moron just said MYR is the best performing South East Asian currency
    Best of the worst, relatively.
    " In the land of the blind the one-eyed-jack is king."

  10. #10
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    " The ringgit has been the best-performing currency in Asia, ex-Japan, so far in the second quarter, gaining 2.5 percent against the US dollar.

    According to Standard Chartered Bank Malaysia, the supportive factors are the exceptionally attractive valuations, underweight foreign investor positioning and improving external balances.

    It said foreign investors have been net buyers of Malaysian equities for four straight months, with net inflows of US$ 2.2 billion year-to-date.
    Standard Chartered said there was significant room for the ringgit to catch up for further gains given the scale of portfolio outflows in the past four years. "

    https://www.nx.digital/2017/05/18/st...asia-ex-japan/

    Nowadays, it seems like positive news about MYR is unreal and likely from moron...
    Simpletons are the majority in a society. Donít argue with them as they cannot comprehend they actually have a smaller brain sizeÖ.

  11. #11
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    Not sure whether is a liquidity-driven exercise, I noticed a few foreign banks here are aggressively coming out with better savings rate this month and likely next month. You can expect between 4.00% to 4.20% for 12 months FD rate which is not bad.... But I really missed the 10% rate during the 1997 financial crisis ...

    I think for 12 months FD, the rate is less than 1.50% in Singapore ... Wtf
    Simpletons are the majority in a society. Donít argue with them as they cannot comprehend they actually have a smaller brain sizeÖ.

  12. #12
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    Quote Originally Posted by opulant View Post
    .... You can expect between 4.00% to 4.20% for 12 months FD rate which is not bad....

    WOW... the 2 months allocation/limit of this 4.20% has been snapped up in less than a month... !!

    Now, back to the usual 3.70 to 3.85%...
    Simpletons are the majority in a society. Donít argue with them as they cannot comprehend they actually have a smaller brain sizeÖ.

  13. #13
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    " Something weird is going on at Malaysia's banks. The problem is about deposits, or more precisely, a lack of them. " http://www.thestar.com.my/business/b...orrying-banks/

    What is so weird ??
    The lack of deposit is because the deposit interest rate is low compares to previous year !!

    Once the banks offer anything slightly more than 4%, people will snap up the deposit allocation within days. I was told RM30million allocation for one branch finished in 15 days !!

    Quote Originally Posted by opulant View Post
    WOW... the 2 months allocation/limit of this 4.20% has been snapped up in less than a month... !!

    Now, back to the usual 3.70 to 3.85%...
    Simpletons are the majority in a society. Donít argue with them as they cannot comprehend they actually have a smaller brain sizeÖ.

  14. #14
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    Agree ! some banks are diversified their sales staff to canvassing companies to open a account with them with interest! Times are bad with companies operating zero orders...but but but makan places are pack with munchers. why arh?????>?

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