chilling prelude for Singapore

[Boo Hoo]

The next reversal will not be one day but still keep the term range in mind. Goodnight..

More random claptrap.  Quote something, point to some evidence.  Show a piece of analysis in a single post.

Nah, just keep up the random baseless assertions fool.

Wait and don't buy. That's the piece tuneless "music" that should be played over and over..

Going "shorting" today? Be honest and tell us what stocks you have really shorted from today

[Raising cash]

There is something strange happening in the capital and banking markets in Singapore.  I got a cold call from Standard Chartered offering me a personal loan of up to 3 times my monthly salary, at the cost of 0.5% for the first year, and rising to 1% to 2% for the next 3 years.  I wondered how they got my number - the guy even asked if I have an account StanChart - no.

Why are loan interest rates so low in Singapore, and why are banks desperately throwing money around to anyone with a mobile phone?

Why are UOB and OCBC raising capital by issuing preferential shares, if, as has been constantly claimed, they are flushed with cash and can't wait to lend them out? I find it pretty puzzling as well...Something don't quite add up here...

[very prudent move]

actually in my view the raising of capital is very prudent.  In this environment the more capital the better... and it is definitely prudent to be doing so when the interest costs of 5% +/- are still in the quite reasonable range

[chaos theory]

We are having big retrenchment in Singapore 10 yesterday and 15 today. It really gets scary.

This is from the "living in Singapore thread" and about a finance company which is sad for the people involved but it is typical of an industry which has too many people and too many products.

They are supporting a property market which is overpriced and oversupplied.

Growth has limits and the law of diminishing returns are what is hitting the western economies at the momment.

[cmdsea]

3 times my monthly salary, at the cost of 0.5% for the first year, and rising to 1% to 2% for the next 3 years

It probably comes with a 5% "application" fee, a 3% "processing" fee and a 4% annual "management" fee... 

[stocks down]

When the world stock markets went up on Monday by 3-4% or 100+ oints, it was a dead cat bounce. Look what happened last night, DOW went down by 280 points and the SGX is down again by 40 points.

Those who bought shares on Monday will get burnt severly. I know for a fact that Singaporeans like to buy shares with leverage and they will get lots of margin calls this morning......

Lehman Brothers is going bankrupt and I have lots of PUTs on this stock so I am not complaining. I am downbeat on the economy and share market and its time to short the market. I am also shorting Capitaland and City Dev plus a couple of banks.

[beavis]

If you want to keep it simple, just go ultrashort the S&P 500.  Given all the stuff that's going on, it's astounding how little it has dropped so far, and the average PE ratio is well over 20 (trailing twelve month PE of 24 if I recall correctly).  The ultrashort (SDS, traded on Amex) gives you approximately twice the inverse movement in the S&P500.  I'm just long that, but if you're more risk-averse and you think you're an above-average stock-picker, you could use it to create an (approximately) market-neutral strategy (67% long some stocks, 33% in SDS).