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Showing posts from June, 2013

Politics & Business In Myanmar 2013

The phlegmatic government (you can try to get rid of the booger from your fingers but it just sticks around) of Myanmar just announced a shocking awardment of foreign telco licenses to build 4G networks in Myanmar. The winners of the 15 year concession were Telenor from Norway (DIGI fame) and Ooredoo from Qatar.

What was shocking was the favourites did not get a mention. SingTel which was easily the hot favourite did not get it. SingTel was bidding as part of a consortium with Myanmar's biggest bank Kanbawza Bank. SingTel with a large footprint in emerging markets, backed by Temasek, not to mention being buddies in  ASEAN loose coalition of neighbours to boot.



It would appear that there are other concerns in the awardment of the concessions. The messages are loud and clear. One, Myanmar still regards ASEAN as not the most important grouping as the memebrs try to make it out to be. Suffice to say, Myanmar has had lingering political issues that earned the ire of many foreign countrie…

Famous Eyeglasses - Artwork by Frederico Mauro

Fischer On Market Sensibilities

Finally, someone who talks sense about the current turmoil in the markets. The markets should not behave like a petulant child when candies are taken away from them. One, you cannot live on liquidity pumping forever. Two, the withdrawal will only happens when the global economy is recovering sufficiently. So where is the problem?

Billionaire investor Ken Fisher said the U.S. stock market rally that began in 2009 is only in its “middle” stages because most investors still underestimate the strength of the economy.

“We’re right in that transition between skepticism and optimism,” the founder of Fisher Investments, which manages $48 billion, said in an interview at Bloomberg News’s office in Seattle. “The notion that it’s actually the middle of a bull market and there’s a lot ahead -- that’s a really impossible concept for most people to get.”

Stocks tumbled last week, with the Standard & Poor’s 500 Index posting its biggest two-day drop since November 2011, and bonds fell around the wo…

Thought For The Week

Happy Fathers Day

My friend, Roger Wang, who also happens to be one of the country's finest guitarist ... has composed a lovely song for his daughter. Plus he sings, OMG ... that is so rare. The video sets with the lego pieces, must have been such a labour of love ... Wonderful Roger...



This is the most important song I have ever written. 

It's also my first vocals outing and first music video that I created myself. The song was inspired by my daughter's obsession with fairy tales and being a princess. It sums up a lot of my feelings about being a father as well as the hopes and lessons I have for her.  It's often hard for a father to relate to dolls and the way young girls play. Playing Lego together was one of the few activities that we shared. All those hours helped bond us. This video was made with those Lego sets and mini-figures. They became the best way for me to express this song visually. This song and video come from a very personal place, but it goes out to all fathers and daughte…

Asset Class Returns As At 31 May 2013

This is highly interesting. As a test, if you were looking at the table what could you say or what kind of observations could you make. Not trying to be an asshole or "guru" here, but if you are honest about your knowledge of markets, the ability to synthesize data and tell a story, you should do well in financial markets. If you can't, then you shouldn't be, or are just plodding along. To be in the markets you can study, but you have to have passion for it. Make your own observations before scrolling down.


- The one month data does not tell us much.

- YTD, the equity markets have been well led by the US, in fact emerging markets have been trailing ... suffice to say that most of the Asian markets which have been surging so far this year have been an anomaly, which further depresses the real performance of other emerging markets.

- We know the financial markets have been awashed in liquidity with QEs from various central banks, but where have they been headed. The YTD f…

The Fears Of The End Of Quant Easing

Markets everywhere have been shaken over the last two weeks. First was the correction in the Japanese equity markets. It has lost substantial ground over just the last couple of weeks. Next came the Bernanke's testimony which led all to conclude that QE would be ending soon. 

If an article in Monday's Wall Street Journal is anything to go by, the U.S. Federal Reserve is getting ready to unwind its massive monetary stimulus program. So, is that prospect as alarming for financial markets as feared?

Fed officials have mapped out a strategy to wind down its $85 billion-a-month bond-buying program in careful steps, although the timing of when that will start is still being debated, noted Fed watcher Jon Hilsenrath wrote in the WSJ. 

Any unwinding of the Fed's quantitative easing (QE) program, which has fueled a rally in equity markets and other risk assets, is generally viewed as negative and any indication of this happening has been highly anticipated in the U.S. since late last …

My Life's Aphorisms

Readers of my blog will notice that I haven't been updating my blog lately ... usually I am pretty not that busy ... now I have to go to Singapore every week for a couple of days ... and then there are the many meetings that suddenly crop up and classes that I have to give for Murasaki ... blah blah ... I miss writing my blog, I love it because its like a diary of sorts, I cannot ignore my blog cause its now 6 years of my life. If anyone reads it carefully, they would know me very well cause I never write to create a false persona, if you think I am an asshole, you are probably right. I don't like to be busy, it makes time flies, and I don't get to sit and relax and enjoy. My Monday nights drinks sessions are sacred, those of you who are part of it knows too well. We all have to slow things down and take stock of what we are doing, whether they correlate to fulfillment of your goals in life, so I think its time to re-look my own aphorisms in life, making sure I stay center…