Create Wealth Through Long-Term Investing and Short-Term Trading |
- Negligible impact on our positions, says DBS
- Investing Made Simple by Uncle8888 (22)
- My War Room (8) - Waiting for stronger Eastern Wind?
- A look at the Dow's worst drops since 1899 - updated
- STI vs. DOW Since Oct 2008
- DOW
| Negligible impact on our positions, says DBS Posted: 09 Aug 2011 04:33 AM PDT DBS, South-east Asia's biggest bank, says the impact of a US credit rating downgrade on its trading and investment positions is 'immaterial' and that it is adequately positioned to meet liquidity needs. 'Over the past few weeks, DBS has already taken proactive steps to understand possible repercussions of a US credit downgrade, including stress-testing our books and portfolios,' said Chng Sok Hui, DBS's chief financial officer, in an email yesterday. 'In terms of our trading and investment positions, on a net basis, the impact is immaterial,' she added. DBS said its holding of European debt is negligible. OCBC Bank, Singapore's second- biggest lender, also made a similar statement. 'Given the current level of exposures, the impact of the US sovereign downgrade is not material to OCBC Bank,' said Koh Ching Ching, OCBC's head of group corporate communications. Analysts said Asia's banks are seen facing a bump-up in dollar-funding costs and potentially slower credit growth after Standard & Poor's US debt rating downgrade, strengthening China's case to push the yuan as a global alternative to the dollar. -- Reuters  |
| Investing Made Simple by Uncle8888 (22) Posted: 08 Aug 2011 09:57 PM PDT Read? Investing Made Simple by Uncle8888 (21) ST, Tuesday, August 9, 2011 S'pore retail investors make flight to safety. Massive volumes of stocks traded as many prefer cash to equity. Engineer Sun Weixin, 28, liquidated his entire portfolio of mainly bank and blue-chip shares yesterday, worth less than $40,000. He suffered a loss but did not want to disclose the amount - but said he felt there is too too much uncertainty to stay invested. Read? investors flock to low-risk assets, with focus on cash Read? Should I sell all my equities and stay sideline? Should Uncle8888 also sell out all equities and stay sideline? Since 2001 he has been thinking very hard each time a Bear market arrived whether he should sell out all his equities and stay sideline until certainty come back to the stock market before reinvesting. This time is no different and he is thinking very hard too. So actually what has happened to him during the past Bear markets for being stubborn or stupid? He has been holding the following stocks across several bear markets:
His initial DBS holding is also cheaper by 16% after the 2:1 right issue; and internally price adjusted for all unit shares based on theoretical fair value of right issue shares. There was no corporate action on Semb Corp. :-( TSR as on Monday closing, 8 Aug 2011  For the coming Bear market, he is even more stupid to slide with the Bear with more members on board.  Will Uncle8888 survive this Bear to write more stories on short-term trading and long-term investing using his Pillow stocks strategy and finding Touch Stones?  |
| My War Room (8) - Waiting for stronger Eastern Wind? Posted: 08 Aug 2011 11:58 PM PDT Read? My War Room (7) - The Lost Years!  The worst drop in STI history in the band of -60+% Based on the past STI performance, if it is just a correction, it should rebound in the next few days and moves towards 3,000; otherwise we should be preparing for stronger and stronger Eastern wind. I am preparing for 5-6 levels of Eastern Wind as follows:  Do you believe in Eastern Wind?  |
| A look at the Dow's worst drops since 1899 - updated Posted: 08 Aug 2011 04:49 PM PDT Read? A look at the Dow's worst drops since 1899 Createwealth8888: If you think it is like 2008 again, then a few more big drops will be expected.
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| Posted: 08 Aug 2011 04:40 PM PDT  DOW has proven that he is still the Big Brother!  |
| Posted: 08 Aug 2011 04:39 PM PDT  |
| Posted: 08 Aug 2011 04:31 PM PDT   Dow 10,809.85 -634.76 -5.55% Dow Skids 600, Worst Day Since Credit Crisis By: JeeYeon Park CNBC.com Writer Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P's downgrade of U.S.'s credit rating last week in addition to ongoing economic jitters. The Dow Jones Industrial Average plunged 634.76 points, or 5.55 percent, to finish at 10,809.85, well below the psychologically-significant 11,000 mark. The move marks the blue-chip index's biggest point and percent drop since Dec. 1, 2008. The S&P 500 plummeted 79.92 points, or 6.66 percent, to close at 1,119.46, its lowest close since Sept. 10, 2010. Nasdaq sank 174.72 points, or 6.90 percent, to end at 2,357.69, its lowest close since October 4, 2010. August is already on track to be the worst month for the S&P and Nasdaq since Oct. 2008. The CBOE Volatility Index, widely considered the best gauge of fear in the market, spiked above 40 to touch its highest level since Mar. 2009. Volume was very heavy with the consolidated tape of the NYSE at 9.29 billion shares, while 2.54 billion shares changed hands on the floor. That exceeded last Friday's heavy volume, which was the heaviest since the Flash Crash on May 6, 2010. According to Dow Jones, this was the 4th largest volume day in history on the NYSE. "Once we took out Friday's lows, it was like a trapdoor opened," Art Cashin, director of floor operations at UBS Financial Services told CNBC. "This is very heavy volume again and that tells me that we've got people liquidating to raise cash." Moody's said while they are maintaining the U.S.'s AAA status, the agency said it has doubts over the long-term enforceability of the budget cuts already decided by Congress. This comes after Standard & Poor's move to downgrade U.S.'s rating to AA-plus from AAA last Friday after a wild week for stocks—its worst in more than two years. And in its latest move, S&P also lowered Fannie Mae, Freddie Mac and Federal Home Loan Bank's debt to AA-plus from AAA. S&P came in for significant criticism from U.S. Treasury Secretary Timothy Geithner, who said the rating agency showed "terrible judgment" in lowering the U.S. government's credit rating. Meanwhile, President Obama said financial markets around the world "still believe our credit is AAA and the world's investors agree," although his speech did little to cheer up the market. David Beers, global head of sovereign ratings at S&P, defended the firm's position, despite the discovery of a $2 trillion error in the firm's calculation of the projected debt to GDP ratio for the U.S. Meanwhile, S&P also revised Berkshire Hathaway's [BRK.A 101000.00 -6300.00 (-5.87%) ] rating outlook to "negative" from "stable." Incidentally, this comes after Warren Buffett said S&P's downgrade of the U.S. "doesn't make sense" and told CNBC he was not changing his mind about Treasurys based on S&P's downgrade.  |
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