The quote “Bearish brokers have skinny children” stuck after attending a wealth management forum. This simple phase speak volumes about the issues facing not just the wealth management industry, but the whole investment community. The issues discussed at the forum were starting to sound like a broken record. No clear solutions was offered.
A businessman deposits $1m into a bank. Down comes the relationship manager with 2 proposals that total, you guessed it, $1m.
2 hot funds plus a universal life plan were proposed. A whopping 5% sales charge was imposed but there was no attempt to asset allocate at all. The investment was split [...]
The past few weeks must have been really fun for Mr Market. Investors have been placed onto Battlestar Galactica and the ride has been going on for a few weeks. Below is a just a few observations of how things have gone wrong for many. Note: I am not trying to say that [...]
Listen to John Bogle, founder of Vanguard group and inventor of index funds, on why diversification is NOT for idiots. A good 20 min video.
The main reason for relationship managers (RMs) leaving is that they have been ‘encouraged to do so‘ by the banks! Not very encouraging… And by the way, what do you mean by ‘underperformance‘?
The latest Global Private Banking and Wealth Management Survey has yielded some interesting (but long known?) results. Snippets of [...]
In a development that would have made investors in landbanking firm Profitable Plots heave a huge sigh of relief, the Singaporean director have returned from Britain on August 29, reports the 03rd September 2011 edition of The Business Times (Profitable Plots director returns from Britain).
Yet another gold bar scheme may be in trouble. According to the 02nd September 2011 edition of The Straits Times (Gold bar scheme: 120 fear they may lose $40m), a gold bar scheme located in Rochor Centre is being investigated by police after a customer claimed to have lost $300,000 that [...]
Some investors have a view that intermediaries, for example investment advisers, remisiers, bank relationship managers, have insider information or is able to time the market simply for the reason that they are in the investment business. Well, its true that there are tons of fund house reports and investment investment views floating around. [...]
The market volatility in August has spooked many investors. A sudden flood of articles proclaiming the death of buy-and-hold has started to appear in many medias. A long-held belief, buy-and-hold simply means buying quality stocks, lock it up in the safe, throw away the keys and only come back 30, 40 years down [...]
The people behind the alleged Ponzi scheme, Sunshine Empire, are appealing their convictions, according to the 16th August 2011 edition of The Straits Times (Call for Sunshine Empire trio to get stiffer sentences) and Today (Sunshine Empire trio appeals against sentence). Prosecutors, however, pushed for heavier sentences.
The [...]