I was watching an online video when the interviewee mentioned the title of this post – Diversification is for idiots!
Ouch!
Well, didn’t Warren Buffett mentioned something similar when he said – Diversification is protection against ignorance? So should we mere mortals still practice diversification when the investment gods tout the [...]
Following the more than 500 point drop on the DOW on Thursday, rating agency Standard & Poor’s gave the market another shock by downgrading US debt to AA+ with a negative outlook on Friday after markets closed. The other major rating agencies, Moody’s and Fitch, maintained the AAA rating.
The downgrading was [...]
The notorious Accumulators, also known “I Kill You Later”, are in the news again. An 88 year old Indonesian businessmen has sued a bank for US$17m for losses in Accumulators linked to currencies.
As usual, the bank has claimed that the plaintiff has “extensive experience in a wide range of investment products, [...]
The Subordinate Courts have granted a 4 months extension to the Commerical Affairs Department (CAD) for the probe on landbanking firm Profitable Plots, reports the 09th July 2011 edition of Today (CAD given yet more time for probe). The time extension is to allow CAD to received a ‘crucial’ expert report [...]
According to the 17th June 2011 edition of Today (Wine investors see red), the Hong Kong office of wine investment company Premium Liquid Assets (PLA) is under police probe for alleged investment scam.
Automated email replies from PLA mentioned that PLA’s Singapore branch is ‘currently in the midst of handling [...]
The High Court has ordered a Swiss private bank to return US$2.34m lost through unauthorized forex transactions, reports the 11th June 2011 edition of The Straits Times (Give back customer’s US$2.34m, bank told). The customer’s client relationship officer made more than 160 unauthorized forex transactions, making losses of US$2.34m for the [...]
The Securities Investors Association of Singapore (SIAS) has urged Profitable Plots to communicate with their clients and give an explanation on the defaults, reports the 25th May 2011 edition of The Business Times (Profitable Plots urged to explain defaults to investors), The Straits Times (Don’t keep clients in the [...]
The CAD has rejected an application for the release of her passport from a director of landbanking firm Profitable Plots, reports the 19th May 2011 edition of The Straits Times (Director wants passport back from cops).
The lady, a Singaporean, claims that she could not afford to live in Singapore [...]
Another company involved in gold trading/gold membership has been listed on MAS’s Investor Alert List.
Go to MAS Investor Alert List here and search for Gold Insignia LLP.
An investor, who has been sued by a French bank for $6.4m for losses from Accumulators, will get a new hearing after he appealed against a High Court decision in favor of the bank, reports the 20th April issue of The Straits Times (Investor sued for $6.4m gets new hearing).