Sunday, October 30, 2005

Trick or Treat?!


Silly me... I dont believe I got talked into takin my nieces and nephew to buy them their halloween costumes.

First Lesson learnt from Halloween?
Never to have children!

Second Lesson learnt...
Merchandising is a multi-billion dollar business in which unsuspecting parents (and in my case Aunties) get sucked into

Third Lesson learnt...
You dont have to dress up to look like a devil, just try saying NO to that 3 hundred dollar costume and you ARE the devil!

I would definately say its a TRICK and nothing close to a TREAT!

Saturday, October 29, 2005

Lonely in Asia

After Japanese Prime Minister Junichiro Koizumi last week paid yet another visit to Yasukuni Shrine - the Tokyo war memorial that honors 2.47 million wartime dead, including 14 class-A war criminals - his country can look forward to a deepening of the remarkable diplomatic isolation that has enveloped it in recent years. - Newsweek.


Politics is an animal I would never understand. Nevertheless, this whole controversy over the Japanese PM's visit to the shrine is mind boggling!

Why do we care so much where the PM of a country goes?

Even though his visit was followed by those of about 200 parliament members, Mr Koizumi immediately played it down. He went, you see, in a private capacity not a public one: did he not wear a plain grey suit instead of the customary morning tails? Though he pledged that Japan would never wage war again, both Chinese and South Korean foreign ministers cancelled planned meetings with their Japanese counterpart, Nobutaka Machimura. The Chinese authorities issued orders to cancel bilateral exchanges on the mainland, citing a desire at a time of fervent anti-Japanese feelings to prevent “unexpected contingencies”. A planned summit later this year between South Korea's Roh Moo-hyun and Mr Koizumi is also off. - The Economist

Why is one country leader's patriotic stance affecting others so much? After all, these were the people who died for the country. Arent they worthy of some form of respect? For instance, an occasional visit by a dignitary?

Oh yeah, the 14 war criminals come in the way!? Gimme a break! For heavens sake, it was a WAR! And anything's fair! Plus it was AGES ago. It's sad how we let these things get blown out of proportion in the wake of globalization.

With all due respect for China - is it not being a hypocrite? The Tiananmen Square massacre in 1989 where thousands were slaughtered shows that in "war" easily hundreds of war-criminals can spring up, let alone 14.

Based on my limited view of the world - I would say it's more to do with flashing its newly acquired influence than otherwise.

Thursday, October 27, 2005

IPO of the YEAR

China Construction Bank closed flat at 2.35 on listing debut. As the counter was priced towards the higher end translating into a PB of nearly 2x and given current market conditions, I was not surprised that the shares did not perform.

However, based on fundamentals (being the best among the state-owned banks), a low forward PER, and also that shares in the hands of retailers are limited, I remain bullish on the counter.

TOO BAD I'M BROKE!

Wednesday, October 26, 2005

End of Greenspan Era


Some shoes are hard to fill...

On Monday, October 24th, George Bush nominated Ben Bernanke to succeed Alan Greenspan as chairman of the Federal Reserve.

The most worrying of these is America’s housing bubble. Soaring house prices have been crucial in underpinning consumer spending since 2001 as Americans have blithely ridden out slowing income growth by releasing large sums of home equity. A related problem, the gaping (and growing) current-account deficit, has many observers worried about a sudden dollar devaluation triggering a “hard landing” for America’s economy—and thus the world economy. And rising oil prices have once again raised the spectre of the devastating combination of high consumer prices and slow growth that haunted the 1970s. There are no clear answers to any of these problems, and Mr Bernanke will have to feel his way with the eyes of the world upon him. - The Economist

VIEW: Given Mr.Bernanke's past stance on interest rates and monetary expansion, I do expect him to halt rate increases when Mr.Greenspan retires next year - thus triggering a hard landing mentioned above (I see a recession coming). BUT things should continue to be rosy as any signs of trouble would be combated with money supply atleast until Bush's term is over.

However, if this should be the case, then things would be wonderful for Hong Kong. Given our economy's health (unemployment rate falling, tourism booming, wages increasing, consumers spending, exports surging...) lower rates would revive our property market further and boost investor sentiment!

Plus, a weaker US dollar would see money flowing into the region for better investment alternatives. As our dollar does not have much room to maneuver, I do see assets going up in prices

CONCLUSION: Go BUY property counters now that they have consolidated!!!

BEWARE OF BIRDFLU THOUGH

Friday, October 21, 2005

Out of this World

Last nite after Dinner...
The lobby at The Peninsula
Live Music
White Chocolate macademia nut Cheese cake with Oreo crust
Freshly brewed Coffee
3 Girlfriends
Topic - Karen's S**life

Testing Testing

Bloggin huh?

Rather a silly pastime wouldnt ya say? Aint I be makin better use of my precious time readin BW? Or workin on my model portfolio? Or just sleepin?

Where's the justification?