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Latest Posts By ozone2002 - Supreme      About ozone2002
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25-Jul-2008 11:03 SPH   /   SPH       Go to Message
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x 0 		even "defensive" stocks are in the red... better to short equities..make more in a shorter time..
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25-Jul-2008 10:00 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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Holy cow!..CPF money down the drain..looks like the financial system is down hill from here

Temasek
Selling Merrill Lynch
Half or total of 87m shares have been sold off at a loss, according to US recorded filings. By Seah Chiang Nee
Jul 24, 2008

Temasek Holdings has sold off half its ill-timed investment in Merrill Lynch - or about 87m shares, according to a mutual funds report on institutional trades on US stocks.

The online report, MFFAIRS (Mutual Fund Facts About Individual Stocks), reported it sold off 86,949,594 shares (50%), leaving a current holdings of 86,949,594 shares (50%), according to the filings made public.

The report gave no exact date or price of the sale.

Neither has there been any confirmation from Temasek, which had paid US$48 a share last year. http://www.mffais.com/newsarticles/2008-07-22/2473637-211738.html

Last week Merrill Lynch was traded at $31.

At that price Temasek would have suffered a loss of $17 a share - or a total loss of about US$1.48b for the 87mil shares.

Despite massive write-downs and capital injection, Merrill Lynch's outlook remains uncertain, reports Bloomberg.

The company's equity capital position is weak relative to competitors, said Brad Hintz, a New York-based analyst at Sanford C Bernstein, reports Ambereen Choudhury.

"With $19.9b in CDOs still frozen on the balance sheet and with counterparty risk rising on the hedges underlying these troubled positions, the potential for additional material write-downs remains a concern,” Hintz said.

The New York-based firm's credit rating was cut last week by Moody's Investors Service to A2 from A1.

The third-biggest US securities firm probably will report a loss of $6.57 a share this year, compared with an earlier forecast of $1.07, Hintz said.

The revised estimate assumes the company generates no earnings in the second half.

Merrill may have to take an additional $10 billion of pre-tax write-downs related to its holdings of mortgage securities, Moody's estimates.

Huge paper losses

The disposal leaves Temasek Holdings and the Government Investment Corporation (GIC) still holding substantial parts of big troubled Western banks.

Its remaining investments in UBS (Switzerland), Citigroup, Barclays and Merrill Lynch - at an original cost of US$21.88b - have declined on by some 47 percent in value.

That is a paper loss of US$10.28b. However, Minister Mentor Lee Kuan Yew had said these investments were made as a long-term strategy of 30 years.

But as the Merrill Lynch sale shows, Temasek is not inflexible about cutting losses, if things threaten to get worse.

The political leadership has defended its investment of these sub-prime banks as “an opportunistic” foray that can happen once in a long while.

It believes these companies will survive the crisis and emerge stronger.

Some experts believe that Temasek has made an error of judgment.

Investment guru Jim Rogers said in July he believed that US bank stocks could fall further and predicted that Singapore's state investors would lose money on Citigroup and Merrill Lynch.

"I'm shorting investment banks on Wall Street," the successful investor said. "It grieves me to see what Singapore is doing. They are going to lose money."

At the Nomura Dialogue recently, Minister Mentor Lee Kuan Yew reported to investment mistakes, but that no one had benefited from it.

Singaporeans who want to see greater transparency in the government’s investments in troubled companies are unhappy with this vague answer to a serious problem.

One writer said, “Should we just move on? I do not think so. The patently huge mistake is not merely the result of recklessness but rather a systemic lack of accountability in making some of our largest investments.

“Let it be clear, the harm is terminally done. The entire reserves system must be re-examined and audited.”

Said slohand, "I saw the interview on TV last night and felt shortchanged.

"He brushed aside the issues with the logic that since the officers who made the decisions were not the beneficiaries in any sense of the word, such lapses are mistakes and are therefore acceptable...

"..The size indicates that it can only come from the very top."

The skies are dark but the storm has not broke yet.
By Seah Chiang Nee
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25-Jul-2008 09:09 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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x 0 		wham bam thank you mam!!! :)

ozone2002      ( Date: 23-Jul-2008 16:10) Posted:

i'm still bearish...tats y i say May God bless the markets..

waiting for the next shoe (Nike or Timberland) to drop..keke



OneSharer      ( Date: 23-Jul-2008 15:50) Posted:

Don't dare to make comment on bearish/bullish mkt.
But the mkt today is at least powerful enough to influence ozone2002 (i.e. another tune).
Therefore, I think the mkt must be something today.  (I aint joking). 



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24-Jul-2008 14:24 SIA   /   A380 A Great Way to Fly       Go to Message
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x 0 		got SIA stewardess servicing u?
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24-Jul-2008 11:47 Lian Beng   /   Lian Beng got the IR job? Halt soon?       Go to Message
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x 0 		some activity in the stock today.. dirt cheap 22c...
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24-Jul-2008 11:38 SIA   /   A380 A Great Way to Fly       Go to Message
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x 0 		as long as oil price down ..airline companies will benefit..
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24-Jul-2008 11:36 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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x 0 		from + to -
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24-Jul-2008 10:48 SPC   /   SPC       Go to Message
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x 0 		$6!!!!!!!!!!!!!!!!!!!! its coming..
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24-Jul-2008 10:09 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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today top vol mostly comprising of China stocks..

BEIJING olympics!..go china!
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24-Jul-2008 10:05 China Hongxing   /   Big boys buying up       Go to Message
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x 0 		li heng steam rolling ahead!

ozone2002      ( Date: 21-Jul-2008 14:39) Posted:



this counter generating a lot of buzz..

prefer Li heng than this counter.. li heng doin nylons...hong xin doin apparel..kinda consumer related.. not so well diversified..

just my take
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24-Jul-2008 09:23 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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x 0 		oil $124! markets will rally like crazy ballz
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23-Jul-2008 16:24 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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x 0 		olympics in 2 weeks time... need to prop up the markets!..
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23-Jul-2008 16:10 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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i'm still bearish...tats y i say May God bless the markets..

waiting for the next shoe (Nike or Timberland) to drop..keke



OneSharer      ( Date: 23-Jul-2008 15:50) Posted:

Don't dare to make comment on bearish/bullish mkt.
But the mkt today is at least powerful enough to influence ozone2002 (i.e. another tune).
Therefore, I think the mkt must be something today.  (I aint joking). 



ozone2002      ( Date: 23-Jul-2008 15:19) Posted:



markets are alive again...vol looking to surpass 1 bil... up 73 points..amazing..

May God bless the markets..
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23-Jul-2008 15:19 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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markets are alive again...vol looking to surpass 1 bil... up 73 points..amazing..

May God bless the markets..
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23-Jul-2008 14:44 World Precision   /   Bright World       Go to Message
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x 0 		wah 60c..take over price 70c..so good deal earn 10c for nothing..
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23-Jul-2008 13:24 GLD USD   /   Gold going up this year?       Go to Message
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Wah even Soros also follow me buy gold..hor seh liaoz :):):)



London Gold Market Report

from Adrian Ash

 

 

THE SPOT PRICE OF GOLD dropped 1.3% at lunchtime in London on Friday, sliding into the US open – and heading for its first weekly loss in five – as world stock markets ticked higher.

The US Dollar rose on the forex market. Crude oil futures jumped 2.1% – "a dead cat bounce," according to one trader – after suffering their worst drop since Dec. 2004 so far this week.

"There was a story out yesterday that George Soros had shorted oil and bought Gold," notes Mitsui, the precious metals dealer in London, pointing to a story at Forbes.com.

Forbes cites the current low in the Oil-Gold Ratio as the reason behind Soros's rumored long gold, short oil position.

"How much this directly affected the market is unclear," Mitsui goes on, "but there certainly appeared to be more support for the precious metals late in the day and there is a firm tone in London this morning.

"With the Gold Market holding above $950, the upward trend is still intact for now."

George Soros – co-founder of the Quantum Fund with the legendary Jim Rogers in the 1970s – has reportedly traded this gold bull market all through this decade, adding to the $100 million profit he made from gold in 1993.

"Gold has had a strong run from July 8 to 15," said David Thurtell of BNP Paribas to Bloomberg earlier, "and you're always going to have some profit taking after that."

"The decline in oil yesterday supported capital flows into US equity markets," says Manqoba Madinane at Standard Bank in Johannesburg, "which supported the Dollar through the New York trading session.

"[But] with credit spreads trending sideways, at elevated levels, and crude oil prices likely to remain resilient, Gold could attract some bargain buying at current prices."

The Western world's largest banking group, Citigroup, today posted a $2.5 billion loss and said it's laid off 11,000 staff so far in 2008.

Merrill Lynch, the third largest investment bank in the US, last night reported a worse-than-expected loss of $4.9bn for April to June.

The fourth quarterly loss on the run, Merrill's "difficult and disappointing" results are forcing the sale of its stakes in Bloomberg News and the Blackrock fund management firm.

US mortgage giant Freddie Mac, the government-sponsored agency, is said by the Wall Street Journal to be seeking $10 billion in a new capital issue.

Meantime on the currency markets, the European single currency fell vs. the Dollar, dropping below $1.5850 – almost two cents beneath Tuesday's new all-time record high – after ECB chief Jean-Claude Trichet forecast the "trough" in economic growth would run to October.

Speaking to The Irish Times in Dublin, Trichet pointed to "growth risks [including] the very significant financial market correction, the possible further increases in oil and commodity prices, and the possible unwinding of global financial imbalances."

Here in the United Kingdom, however, financial imbalances continue to mount, with private-sector debt growing by £50 billion ($100bn) in June – a new monthly record – according to the Bank of England today.

June's jump in new debt more than made up for May's Decline in UK Lending, and topped the previous record set in April. It also took the growth in private debt for the first-half of 2008 above £154bn ($307bn) – outstripping the entire growth in new credit during 2003 and keeping the UK on track to match 2007's full-year record.

But the risk of further money-led inflation, coming hard on the heels of this week's 16-Year Record in UK Inflation, failed to buoy the British Pound on the currency market today.

With the Bank of England unlikely to raise interest rates while turnover in the housing market sinks to three-decade lows, the Pound slipped back below $2.00.

The Gold Price in British Pounds rose above £480 per ounce, more than twice its price of three years ago.

"Volatile stock markets and a lack of confidence in the UK banking system has boosted demand for gold bars and coins from private investors to levels not seen for 25 years," reports The Daily Telegraph online today.

"Tens of thousands of investors have rushed to Buy Gold from bullion dealers over the past year."

Adrian Ash

 

Formerly City correspondent for The Daily Reckoning in London and head of editorial at the UK's leading financial advisory for private investors, Adrian Ash is the editor of Gold News and head of research at BullionVault – where you can Buy Gold Today vaulted in Zurich on $3 spreads and 0.8% dealing fees.
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23-Jul-2008 11:45 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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x 0 		markets deceive those who do not know the hidden truth
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23-Jul-2008 10:42 SPC   /   SPC       Go to Message
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x 0 		$6!!!!!!!!!!!!!!!!!!
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22-Jul-2008 14:49 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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STI slowly creepin up on low vol... now is tat a cause of concern from ya earlier statement
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22-Jul-2008 10:39 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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x 1 		can sti fall 70 points today?..wipe out yesterdays gains..
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