Friday, October 31, 2008

Don't Forget Seremban Tonight...

Venue: Dataran Seremban Park
Date: 31st October 2008
Time: 8:00 PM
For direction, click here..
Come on, folks.. Take a little time off your schedule, take a stroll down to the venue and feel for yourself the Oneness that we can offer as we spread this special love that you have been reading around the blogs, for the first time in Seremban. Don't miss this chance.. the chance for you to take a stand as a citizen of this country... to pave a whole new path towards a better Malaysia.
Do your part.. Do something that you can be proud of... Then go tell your friends that you were at this vigil and hold your head high. Believe me, it's better than doing nothing at all. Do encourage your friends to come along to meet many great people who are making the effort to be there to stand among all of you for the same cause.
Take the organiser, Angela Ooi, for example. I first met her was during Raja Petra's sedition trial. Friendly and outspoken. She is from Seremban (yes, your hometown folk). Yet, she made that effort to be with us throughout the sedition trial. And she was there again in Shah Alam for the habeas corpus hearing. I do not know how to describe this gesture but I do know that it comes straight from the bottom of her heart.
Angela, you moved me. So, this one is for you. Will be there tonight.

Wednesday, October 29, 2008

PKNS Saga: Outrageous and Stupid!!

Six staff bodies of state agency Selangor Development Corporation (PKNS) have objected to the appointment of a senior official as acting general manager on grounds that she is Chinese.
Their Reasons:
“PKNS was established for Malays and to fulfill the Malay agenda. Because of this, the organisation needs to be led by a Malay.”
Corporation Brief History and Objectives:

Chinese Low Siew Moi's Credential:

Low, 57, a trained accountant, has served PKNS for 35 years with her last post being deputy GM for corporate development.

Read more here..

Why are these bastards kicking up a fuss for? Just by looking at the candidate's credential, she is the one truly qualify for a measly General Manager post. She would have been someone if she was to be in the private sector. And these bastards think that just by professing on bumiputra status, they are going to take this merit away from her.

Another politically motivated racist manoeuvre... No? Then explain to me why are there banners put up all over Selangor by Umno objecting to this move by MB Khalid?

MB Khalid, you have made the right move by taking the first step towards meritrocracy. Don't allow yourself to be cowed by useless goons like them. Stand Firm on this decision. Rid of these diseases if you must. Remember you are still the Boss.

We are watching you closely on this matter.

51 years of Umno's creation

pic pinched from zorro's blog

Umnoputra with Head and Brain buried in their Ass!

Tuesday, October 28, 2008

3rd Vigil at the Padang: The Night Three Generations Turned Up...

Again, my heartfelt thanks to Mr Sunny Lim for his generosity in supplying these photographs to my blog for Free. His intention is good. All for a good cause. He even emailed me his Mollywood Blockbuster sequels which I will unleash through this blog at a later date. Stay tune!
Another successful vigil and this time, we have the honour to welcome many friends who took the trouble to travel from their hometowns just to share their love and threw their support behind this weekly candlelight vigil. There was this Michael who took a bus from Singapore solely for this vigil and left the same night on the last bus back to Singapore. Then, there was Paula who have been longing to join us for weeks, organised a family trip down to KL from through the pretense of visiting her son. I hope your husband is not my blog reader. And not forgetting the lady who made it here from Johor. Their presence was inspiring and I salute them for their effort to make this vigil more meaningful.

Some of the new faces

The People's band

The whole clan

Beautiful smiles all around

Partners in crime: The Blogger and The Driver

Rev OC Lim speech

The Oldies in full force

Monday, October 27, 2008

The Door to Depression swings open...

Another Black Monday in Asia market. Hang Seng got hammered down by 12.70% to close slightly above the 11,000 level while Nikkei continue to slide to close at 7162 points, down 486 points (6.36%). European markets all opened down between 4 to 6% with Dow and S&P 500 futures in negative 4% territory.
Metals and commodities continue to tumble. Even Gold was not spared.
So, what do all these tell us?
The concerted effort to address this crisis has failed miserably. All financial markets indicators fall further into uncharted territory. The bottom remains a mystery. Signs are very much similar to those 1929 era except this time, this is going to be of a much greater destruction.
Is there any way out?
Beyond help!!
Everything have to fall further to fill up the vast vacuum which was left behind by the subprime's bubble and the domino effect that came with it. Just like what we are facing now globally. Further destruction of wealth. Further deflation of values. In other words, we need to get our feet back on the ground again after decade long of value inflation and wealth creation. Human kind have to face the the wrath of their intelligence and their weakness to greed and temptation. And when that happen, we will all be equal again. The poor cant go any worse while the rich would have to make big adjustment to their lifestyle.
There is nothing the world leaders could do now except to slowdown the impact of this destructive force. Do not depend on them. Start doing adjustment yourself. Whatever it is, take it in your stride. Do not take it too hard on yourself. Life does goes on.. Any northbound market is to be view as temporary. This one definitely takes time. Time to bottom out.. Time to consolidate and lick wounds. A lengthy process indeed. There will be trading opportunities. Timing is crucial. Remember Trade.. not Hold! Not a time for long term hold.

Friday, October 24, 2008

Asian Markets Plunge: Chaos on the local front...

Asian markets plunge across the board with Kospi (-10.57%) taking the lead followed by Nikkei (-9.60%) breaking the 8000 point level with ease while Hong Kong and Singapore both down slightly more than 7% and counting...
Further devaluation of global wealth as the wrath of subprime collapse continues to rear its ugly head despite the global concerted efforts to address this destructive force.
While there are still ongoing debates by different quarters on the status of their economy, our government chose to be in denial as to our status. Some analyst predicted that our country would be in a technical recession next year. Technical recession? What the hell is that? It is whether we are in one or not.. not a matter of technicality. Want to talk about technicality? Allow me to provide you with some layman technicalities.

KLSE Composite Index stands 859 points from a high of 1526 points in January. And this is non reflective of the true situation that has been plaguing our exchange. Take a look at our broader market. Blue chips have fallen more than 50% while many 2nd and 3rd liners have fallen even more. Some as high as 90% and more. Translate in into market capitalization value. This would mean that at least 30B in value has been wiped off from this exchange itself. Conservatively Where did these money go? Ask ourselves these questions: How much did the foreign funds take out? How much of this portion is under margin financing?
It does not takes a rocket scientist to figure this out. There was this vast vacuum in our financial system created through the process of value inflation since end of 2006. And there have been series of systematic implosions since last year as funds started to unwind through the help of rating agencies.
Lets talk about the real economy. What do we have except for the NSEW corridors hype? What happen to them now? Conveniently shelved taking global situation as an excuse. In the first place, it was just a hype creation to enrich themselves through the process of inflating the share prices and distributing it at higher levels. Yet again, the investing public became fools to find themselves caught in their trap. There was no concrete move by this administration to ensure the welfare of our real economy. All talks that create hypes that doesn't work well for the real economy.
Technical recession? Hum-buggers them all!!

Forget about the 5B to ValueCap. Two possibilities here: First, it can be used to bail out selective idiots like it was done during the 97-98 financial crisis. Or it can be used to prop up selective shares... this is dangerous as it can easily be subjected to abuse if there is no transparency. The mobilization of this funds can only benefit certain individuals who have access to it. It is our money and this proposed move in no way can benefit the country as a whole.
So what is in store for us now?
Hold cash. Avoid all forms of investment. This destructive force is too strong for us to try to be smart. We are in uncharted territories. More serious consequences loom. Businesses is going to face hardships with dwindling global demand. Our 26M million population cannot consume what our country produced. So forget about self-reliant domestically. Self adjustment main priority. Consolidate your finances. Take time off to enjoy your liberty.

Greetings From The Whisperer..



Wednesday, October 22, 2008

Don't Forget This Sunday's Candlelight Vigil: Come Share Our Love For Free...

Oh what a night!! Some nice photographs taken by Mr Sunny Lim.. Thank you, Sir.. for sharing these with us. These pictures say it all.
See you there! Same place, same time.

Habeas Corpus: Raja Petra should walk free..

This is going to be a brief one just to keep all of you updated.
Attended this morning hearing. Usual supporters were there though limited. Hearing was conducted in RPK absence. Haris, Zorro, Boom with Rodi, Angela and RPK's family were present. Can't remember all the names but they all have been around ever since RPK's sedition trial started. Hardcore supporters, I should say.
Defence counsel Malik Imtiaz took the limelight after all the initial introduction of observers (local and foreign) and amendments made to the enclosure. Malik Imtiaz made his submission arguing from the Federal Constitution Article 149 perspective challenging the manner of which RPK was detained under Section 8 of the draconian ISA. I should say that he was very eloquent and convincing. He had the presiding judge nodding his head in agreement many times. That's my take from body language point of view. Otherwise, it was a very educational experience for those of us who have been ignorant towards our Federal Constitution. Didn't stay long as I was depending on my driver.
Well, after listening to Malik Imtiaz's submission for an hour without the prosecution submission, RPK should be allowed to walk free to defend his outstanding sedition and defamation suit. That's IF, there is law and order left in this country. Yeah, Big IF..
Don't take me too seriously here. This is just The Whisperer's one and a half cent take.

Friday, October 17, 2008

Plan for Asia crisis fund denied

Singapore said it was not aware of a plan by Southeast Asian nations, backed by Japan, China and South Korea, to set up a multi-billion dollar fund to buy toxic debt and help the region's banks hit by the financial crisis.
Philippines' President Gloria Macapagal Arroyo said on Wednesday the countries have agreed to set up such a fund and the World Bank has committed to provide $US10 billion to the fund.
However, a World Bank official said the bank has no plans to contribute to the fund, and the Asian Development Bank said it was too early to talk of contributions to the facility because the region remains economically strong. ''We are not aware of any proposal for the ASEAN+3 nations to set-up a multi-billion dollar fund to buy toxic debts and help the region's banks,'' a spokesman from Singapore's finance ministry said late.
ASEAN+3 refers to the 10-member Association of South East Asian nations, and Japan, China and South Korea.
Governments around the world have pledged around $US3.2 trillion in a variety of schemes to combat the worst global financial crisis in decades that has toppled financial institutions in the United States and several other countries.
The crisis has provided plenty of reminders to Asia of its own financial crisis a decade ago, when currencies in several countries crashed and foreign investors fled the region.
It was not immediately clear why Arroyo made the announcement, rather than Thailand, the current chairman of ASEAN. A Thai official said it could be because of political problems in the country.
East Asian countries earlier this year proposed an $US80 billion currency swap agreement, expanding a much more modest agreement that was set up in the wake of the 1997/98 Asian financial crisis to protect any country facing a balance of payments crisis.
Arroyo also reiterated that the ASEAN plus 3 grouping would hold a meeting on the sidelines of the Asia-Europe summit in Beijing next week to discuss how the crisis was affecting the region.
ASEAN comprises of Indonesia, Malaysia, Singapore, Brunei, Vietnam, Myanmar, Laos, Thailand, Cambodia and the Philippines. - Reuters
Could this be the reason why Asian bourses is being sell-down today? Malaysia in denial of a recession is down 1.61%, Singapore admittedly in recession is down 3.62% while Indonesia is down 4.36%. Obviously, we are still resilient if you looked at the percentage of the decline, so to speak. But if you take a look at the broader market, decliners again outnumbered gainers by 2.5:1 with dwindling volume. Second liners and third liners seemed to be taking the wrath of this selling force over the past few days.
What does this means to us? If I looked at all the parameters available before me ie the velocity of this sell-down in relation with the ringgit, there is another pull out by foreign funds ahead of the transition. We are in for another bout of consolidation with more downside. Gloomy picture. Our real economy does not help either. Totally stalled since last year. Hopeless.
Hang on to your cash in Singapore currency. Ringgit is going to weaken further. Continue to short the futures on strength. Only place to make some money. That's all for now. Happy hours awaits me...

How RM 283M was lost?

Tenaga Nasional Bhd (TNB) has posted its first quarterly net loss in four years as its earnings were eroded by higher coal prices, independent power producers’ (IPPs) cost and a weaker ringgit.
It posted a net loss of RM282.9mil in the fourth quarter ended Aug 31 compared with a net profit of RM168.4mil in the previous corresponding period.
Announcing the results yesterday, the national power utility said in a statement its revenue in the quarter rose to RM7.09bil compared with RM6.12bil previously. Loss per share was 6.53 sen compared with earnings per share of 3.89 sen. It proposed a dividend of 10 sen per share compared with 16.3 sen a year ago.
TNB said its operating profit shrank to only RM259.4mil, sharply lower than RM1.2bil a year ago, weighed down by sharply higher operating expenses of RM6.98bil (from RM5.11bil a year ago). Read more here.
How come I am not surprise at all? First, they privatised TNB and then they planted their own leeches onto TNB to draw the blood. These leeches come in the form of IPPs whereby they were given good concession rates plus those subsidized fuel rate from Petronas. Guarantee profit for a period of time. No wonder they have been raking in handsome profit year after year since their existence. Check who owns these IPPs? Cronies of the previous regime. No wonder so powerful. Present government can't even impose a 5% windfall tax on them. Warlords objection, I presume.

National power company Tenaga Nasional Bhd (TNB) does not want the Government to make the same mistake twice by extending the concession period for power plants operated by independent power producers (IPPs).

“Do not go and sign another extension when we may not have gas (subsidies), people will laugh at us,” said TNB president and CEO Datuk Che Khalib Mohamad Noh. “Don’t make the same mistake twice.’’ Read more here.

This statement by the TNB's CEO more or less confirmed the whole situation. This is not an isolated case. Happening in Telekom too through VADS.
Blame it on the hike in raw material costs. Main culprit is the lopsided concession given to the IPPs.

Candlelight Special This Sunday: Let Your Love Flow..

Candle-light Vigil in PJ every Sunday 8pm…
With special perfomances, music & poetry… & A WHOLE LOTTA LOVE!!!
Venue: Padang in front of Amcorp Mall, next to A&W Restaurant, Petaling Jaya!
Come Be Part of The Big Family..
"Last night was the first time that I participated in a candlelight vigil. I found out that there would be a meeting at Padang Timur in front of Amcorp Mall. At first, I browsed through this type of news, without a second thought, as I usually do. This time, I don’t know why, I was compelled to show my face there. Who cares if no one knows me? Why worry if I might feel out of place? Therefore, with a bit of nudging (read begging) from me, my son consented to drive me. I finally managed to rope in another person and we were three! Great, we would be a group and not feel so out of place. " - Steest: first time participant
"We lit our candles, formed our 'NO 2 ISA' inscription (using candles on the ground), made jokes, took photos. Really had fun. Those of you who didn't turn up, you don't know what you've missed." - Crankshaft: Engineer's take
"Nothing can be compare with this moment of joy to know that he is there with the people. Old yet furious with words that most of the MP feared to face. I will have sleepless night thinking about this. :)The usual face is there to lend their support. Not only that, I also saw some unexpected faces. I also asked one of my politic kaki to join the previous vigil and failed all the time. Tonight, he came and I am proud!
"Not only that, I dragged along my parents. They have the same mind set of mine, which is to abolish the ISA for a better Malaysia. But the old conservative mind need some time to change. They were lamenting that the government will just ignore what we have done tonight. I chose to believed that we have pressed on the pressure button for the government to act appropriately. I am proud of my parents." - Jarod's recollection
Want more? You decide. Admission is Free.

Botak, Just Keep Your Stinking Mouth Shut!

A police beat base located in the Chow Kit area of downtown Kuala Lumpur has been shut down because the “presence of criminals could make it unsafe” for police officers.
Home Minister Datuk Seri Syed Hamid Albar said the beat base was located in a dirty area where police faced the possibility of being exposed to contagious diseases.
The presence of criminals also posed a threat to the safety of police officers.
He said this in a written reply to Dr Lo’ Lo’ Mohamad Ghazali (PAS - Titiwangsa).
Read more here.

Another dose from our Home Minister. When is this moron going to stop bombarding us with his blatant stupidity?
Imagine this - The presence of criminals posed a threat to the safety of police officers, he said. So, what are our cops for? Shy away from the criminals or work hand in hand with them? Might as well put all of them on desk duty. No wonder criminals are getting bolder and crime rates are on the rise. Forget about their statistics. What a damn joke! No wonder this country is getting the limelight for all the wrong reasons. Thanks to jerks like him.
If the area is dirty, why not contact our efficient Datuk Bandar or Alam Flora? Take them to task for not doing their job. From the same gang so cannot interfere, is it? So, it is okay to insult all the citizens with this stupid explanation!! Moron!!
We Malaysians, again are being victimized.

Thursday, October 16, 2008

Shaik Rizal Sulaiman: Welcome Back!

On August 6th, I stumbled across this 'Malay rights- A mystical myth' letter by Shaik Rizal Sulaiman. The content of this letter spoke so much truth which prompted me to post it in my blog to create more awareness and at the same time, saluting Encik Shaik Rizal for his well meaningful letter.
And today, his name caught my attention again. Another letter, he wrote...

My letter Malay rights – a mystical myth? had been ‘borrowed’ by many blogs which posted it on their own site as an interesting topic for sharing. I am touched that my letter-writing debut has been well-received with many positive comments although I have seen some negative comments posted too.

Well, I would like to think that even I should allow such democracy! As happy as I am about this writing debut, it also worries me that some quarters are using it to prove their own unheard point. And considering that a Malay man wrote this article, it became a much talked about piece.

This is why I feel the need to write this second letter because I may have been misunderstood in some ways in the earlier one. Perhaps my point was not very clear. Perhaps my sarcasm was out of context and perhaps I was not compassionate enough. Read all here...

Encik Shaik Rizal, you are not alone. I can assure you that there are indeed many anak anak bangsa Malaysia out here sharing your sentiment but only to be silenced by fear of a political onslaught.

Nevertheless, it is heartening to acknowledge that we still have noble people like you who are willing to take a step forward and voiced out the truth of what is actually transpiring behind the Malay rights policies and the decaying effects that come with it. And this alone, keeps the hope of a better Malaysia, alive.
Please allow me to express my sincere gratitude for your selfless role in expressing your noble view openly despite the fact that such a move may subject you to open criticism by certain quarters. But very often, you may find such criticism comes from quarters with selfish agendas of their own. Thus, making it baseless.
Welcome back and thank you.

Wednesday, October 15, 2008

Our Economy not Under Threat but Our Country is Under Siege

Minister in the Prime Minister's Department, Amirsham Abdul Aziz, today rejected claims that the country's economy was under threat in the wake of a global economic crisis, saying Malaysia was well-equipped to weather the storm.

"Our banking system is still strong, credit facilities are widely-available, liquidation remains high and our non-performing loan rate is below 2.5 percent," Amirsham said, adding that the relevant authorities were closely observing the financial sectors to prevent external pressures from adversely affecting the country's economy.
Read full report here.

I have to agree with Amirsham that our economy is not under threat from this global subprime related crisis. And it is primarily because that our country is so backward (under-develop) to be competing in the international stage. Not because that this country is lacking brains or talents to compete among the best but because of our country administrator's racist nature that all these talents have been oppressed or driven away to serve another country. Thus, the reason why our country is insulated from any direct hits from this subprime adversity. Definitely not due to the prudence of the administrator. Just a stroke of luck for being backwardly stupid.

But are we insulated from the contagion effects of this crisis? Are we prepared for what is to hit us indirectly? Global recession and possibly, the dreaded Depression.
Lets not go into that first and focus on the recent deals and proposals announced by our administrator.
1) Maybank-BII
An overpriced deal that need no further explanation from me. Another sense of grandeur purchase that we, as Malaysians, should be proud of. Never mind the premium paid for it. Outright daylight robbery. Malaysia Bolehhood reigns!!
2) Eurocopter deal.
Speedily signed and sealed by the PM and DPM. Another pricey purchase. Paying extra 1B. Commission to them. Corruption to the people. Not to mention the 250M yearly maintenance contract. A golden handshake to the PM for agreeing to step down earlier?
Need I go further? That should roughly explains our readiness in facing what is yet to come.
Our main threat comes from within the country. Our country is under siege.
Double jeopardy.


Tuesday, October 14, 2008

Global Markets Rebounded: Is The Worst Over??

Dow up by 11% last night. Europe all up between 8-12%. All up on news of Europe bail-out plans for banks couple with the expectation that Fed's announcement over the utilization of US250billion of the US700billion rescue package today.
Only on Friday (3:43 Malaysian time), I made a call in my post:

For traders, I would suggest all of you to take a look at the S&P 500. You may consider taking a calculated risk to call for a buy when S&P 500 hit 800 and below. Why the 800 level? Layman instinct. But the truth is... remember last year when someone took a US1B bet on S&P 500 futures to hit 800 points by a certain period? See, so simple from layman. I just take that as a guide. Crude may bottom out after hitting around the US77 mark.

And on Friday, S&P500 hit a low of 839.80 before staging a rebound. Crude oil closed at US77.70. Well, it was slightly off but given the panic that plagued the glodal equities markets at that time, the timing and the margin of error can be considered reasonable. Again, the timing of entry is important. If you would have committed yourself a day or two days earlier, you would have panic sold by early part of Friday when the Dow at one point was down more than 700 points. So you must understand, one cannot afford to get his timing wrong especially in this volatile market environment. You would be pushed to make all the wrong decisions.

What would happen from now? Is the worst over? Buy on rumours, Sell on news?
Let me start off by answering 'Is the worst over?' question. These facts remained. 1) Real economy remains gloomy. 2) Rescue package is insufficient. 3) Serious damage has been done. Based on the following, I would foresee a market trend where Dow would rangebound temporarily within the 8300-10600 range more towards a near-term, medium term and long term downside biased. We are still staring at the door of a Mother of All Depression. What IMF and G7 could do is to soften this landing. Now that they have committed themselves to rescue banks, what is left for them to do is to pray that this could work. Chances are slim here.
On the local front, we are more on our own. Foreign involvement in local market is next to none. Political uncertainties coupled with administration incompetency could only worsen the situation. Forget about Nor Mohammed Yakcop statement over the government's confidence on the country's ability to register growth. He is talking cock like singing song. Who is he trying to lie to? Government spending stalled, local businesses facing slowdown coupled with higher costs, etc. etc.. I supposed he meant Umnoputra growth through pricey projects and purchases. Maybank-BII is definitely one of them. A deal that made many riches from Malaysia to Indonesia via Singapore. Public money again being misused to add to their coffers.
Cash is still king. Not time for one to depart with it yet.
For futures traders, I am at a lost now. Personally, I would more or less favour a short on strength approach. Patience is Virtue.

What went through my mind over the past few days...

First of all, I must clarify myself here. I try not to blog during weekends and public holidays. Sometimes, it is difficult to abstain from doing so especially when certain events or remarks that was reported or made during the weekend really pissed me off.
Last week was exceptional. With all the running around and juggling my time between throwing support for the people and keeping abreast with the pulse of the global financials, I couldn't find time to keep myself updated with all those breaking news. I was like reading news one day late. So much for the TV series 'Early Edition'. Would be nice if this phenomenon does exists in reality and I happened to be the chosen one. Wake up, Whisperer!!
That should explained the lack of ramblings on issues in this blog recently. But we do have many bloggers out there ready to rant and ramble away efficiently the moment an issue was reported. I am just one of them. Maybe different as I viewed life and events from a very different perspective.
Last night, one thought came into my mind: Quit blogging, delete my blog and spend more time walking the street with all the anak bangsa Malaysia out there like what we did for Raja Petra during the course of his sedition trial. My blogger friend pleaded with me to give this a serious thought. "Leave your blog there" she said. "Think it over first," she added. And I did.
I travelled back to the beginning of this journey six months ago. How it all got started and how this blog got it's direction and became what it is today. Nothing great about this blog. The beauty about blogging is that it allows one to open up and push their mind and heart beyond what one thought is possible. It would eventually become part of you. What you write and how you write would somehow gives your character and personality away.
That's just secondary. I could care less. I am who I am and this is what I am. At par. Take it or leave it. Simple as that when it comes to character and personality. We don't have to live up to each other's standard. That is one of my principle. And it is through the course of blogging that I have the opportunity to get to know many great people out there.
And for This very reason, The Whisperer shall lives on...

Friday, October 10, 2008

Global Financial Crisis: Further Meltdown today...

Iceland went bust and slipped into abyss.. Who is next? I am not joking here. We are talking to a tune of US 360 trillion of subprime mortgages at its peak. Easy loan through inflation of assets value. In this particular case, housing asset. And all these mortgages turned into financial papers which became tradable and spread across the global financial system.
Originated from the US and found it's way to Europe and some parts of Asia. Now, US is having big problem trying to withstand this destructive force, what more can we expect from Europe? From my stand, European countries are going to be the biggest loser of this subprime turmoil. While its impact on Asia remained manageable. Perhaps, South Korea would be the hardest hit. Other than that, the exposure can be considered within safety limit.
The questions now are: When will all these be over? Where is the bottom? Is all the recent rescue packages enough? What about the synchronized interest rate cut? And we even get controversial views arguing over the state of US economy: Whether they are already in recession or going into one?
I find all these jerks disgusting. Look at the bigger picture, all of you hypocritical jerks!! Keep yourselves abreast with Reality and stop living in your enclosed world of technical analysis filled with false hopes. And then came one jerk from Merill Lynch trying to be smart. He presented the dividend yield watchamacallit and claimed that the market remained bullish as the dividend yield in US is still above the 3% level. See what i mean? Pathetic!! Humbugs all of them.
Finally get to release my disgusts here.. Allow this layman to answer some of the questions above. Is all the rescue packages enough? If we look at the size of this subprime, we easily need at least US 80 trillion just to fix this problem worldwide. Consider what they have proposed recently, it's just chickenfeed as Alan Greenspan has put it. Interest rate cut came a tad too late. In fact, they reacted too slow in addressing this problem. Damage has already been done. Not much of hope now. We could be staring at the door of depression now.
McCain claimed that he knows how to get US out of this financial crisis during his 2nd debate with Obama. He shot himself in his balls. If he really does know, why the need to wait till he get elected as president? If he is true to the people and the country, he should be doing it right now. Isn't this a threat or a blackmail? Obama remained realistic. He told the people he would try to make everyone keep their home if elected. Here's the hint to the two aspiring Presidential elect.. Keep to basics and don't attempt to touch on this financial crisis. There is no way to get out of this now. Just face this hurtful fact!! Pit-less bottom and may take years to recover. This ain't over yet for sure.
For traders, I would suggest all of you to take a look at the S&P 500. You may consider taking a calculated risk to call for a buy when S&P 500 hit 800 and below. Why the 800 level? Layman instinct. But the truth is... remember last year when someone took a US1B bet on S&P 500 futures to hit 800 points by a certain period? See, so simple from layman. I just take that as a guide. Crude may bottom out after hitting around the US77 mark. Just my layman prediction. I got the top right. Well, almost right. Missed by a mere 73 cents.
Don't trust jerks with your money, especially in times like this.
- Parting words of wisdom

Thursday, October 9, 2008

RPK's Sedition Trial: Highlights of The Day...

The crowd was more than usual this morning with many new faces adding to our undying support for RPK. Say or think what you like.. There is something special about this crowd. They are there for one common cause and yeah, they are extremely sentimental about it too. That explains the daily atmosphere around the courthouse. And it is this sentiment that moves many to tears everyday. By all means, it certainly has nothing to do with sympathy here. Those who were present should understand what I mean here. All the gestures (big or small) come purely from the heart.

I must thank Haris for his late blog post which got me bombarded with one question all morning. I have new and diehard supporters coming up to me asking me this: Who is Alice?. Who is Alice?. Luckily, I did logged on to Haris's blog last night so I know what they were talking about. As usual being such an accommodating fool, I went on a mission trying to locate Alice. Read here to know why Alice became one of the highlight of the day.
My mission failed and I still don't have any idea who Alice is. But my mission gave me the chance to meet up with Jacklyn, a housewife who left her toddler at home just to lend her support. Her story was more or less the same as Alice. Guilt feeling. She was there standing alone staring at the courthouse looking lost. With my animal instinct and after scrutinizing her from all angles, I zeroed in on her and friendship was made. True to what I said in my last post, I do not want anyone to feel left out in this crusade.
Nurul Izzah made her appearance with her small entourage today. She took time to mingle with us before she left. Over the past 4 days, we have had Lim Kit Siang, Ronnie Liu (daily basis), Anwar with Wan Azizah, and Teresa Kok gracing this hearing. I don't remember meeting so many parliamentarian at such short span in my entire life. Good change, eh?
Fellow blogger Antares of Magickriver made his way here from Kuala Kubu Baru. Indeed an honour to have him around. The Whisperer? Friend of Paula, he asked. Sharp mind he has there, I said to myself. This is what blogosphere and Raja Petra can bring us... The Sense of Oneness through One Common Cause.
DSP Gan, the investigating officer for Altantuya murder case, took the witness stand today. With Gobind maintaining his form since Day 2 bashed away at the witness with his line of questioning which prompted a sudden loss of memory to the witness who keep repeating that he don't know the details of the Mongolian murder case. The prosecution requested for an amendment to the Sedition charges. The court adjourned the proceeding to 13th Oct which is next Monday. Scoreline in this series: RPK 4 Najib 0.
Another interesting day. Well, at least it is for me.
Need I convince any further? Come Monday, be there and check it out yourself. Many of us will be there.
Allow me to pen my quick take on Pak Lah's decision not to run for party presidency here. I have always maintain that Pak Lah is sincere on his effort to reform but only to be sabotaged by those around him namely his son, son in law and all the Umno warlords. Thus, his failure is his inability to exert his control over these hypocrites with all the power vested in him.
But, if you read in between the lines on his press statement, Najib definitely has a big fight in hand for his plot in bringing down Pak Lah. That's their internal fight and it has nothing to do with us. But it is going to be an explosive drama all the way.
Now that he has agree to an early exit, Pak Lah is under no pressure from all the warlords if he were to push for reforms in ACA, Judiciary and etc.. Again, that's If he is sincere in placing the nation interests above all else.
I tend to look at it positively. Lets us all wait and see as the drama starts to unfold....

Wednesday, October 8, 2008

Anwar and wife graced RPK sedition trial...

The sedition trial continues into the 3rd day. Could not get into the courtroom as I ran abit late today. Like Haris, I needed the sleep after staying up late into the morning to monitor the financial disaster that has been engulfing the world for the past few days and waking up early to throw my support behind RPK just by being present there. All of these stopped last night. After gobbling down a few shots of whisky, I went into deep slumber.
As the courtroom can take in around 30 person, many of us were left stranded outside. If any of you think that all the actions were confine inside the courtroom, then you may have get the wrong perception. In the first place, many who came in support of RPK come with good heart. Friendships are make without any effort. Bloggers, blog readers, blog commenter, reporters (local and foreign), professionals and businessman alike, they all mingle around freely without borders. Many of us who have been there since the first day flashes our best smile upon seeing some new faces despite the heat. Yeah, the best part is that we do get periodic updates from inside the courtroom when some of them need to make nature call or get a nicotine fix. Lets not forget Rody's nasi lemak today. Yesterday's menu was sandwiches. What's for tomorrow? Rody, I hope you are reading this... How about some nice cold beers tomorrow, eh?
The court adjourned at noon and will continue tomorrow morning. I heard Gobind was throwing his tantrums inside the courtroom scaring the shit out of the witness and prosecutors. It has something to do with what the witness(cop) said. The police has the power to raid and search any house without a warrant. What crap is this! Mocking the judiciary or indirectly telling us this country is effectively a police state. That seems to be the statement.
Nevertheless, RPK and team is gaining advantage as the hearing proceed. The prosecution is trying to build up this case on very weak basis. It makes it look as if the sedition charge was planted there to buy time for someone with political interest. Why the delay? Why not just go straight to that article 'Lets send Altantuya's murderer to Hell' and slug it out on whether it is seditious in nature or not? Perhaps, they should go back and study this Sedition Act carefully.
To those who have not make it there, please don't miss this opportunity to meet up with many great people there. Proceeding starts at 9:00am tomorrow. Do not despair if you don't get a seat. Join us outside. We, The People, definitely knows How to Rock!!

Monday, October 6, 2008

Global Market Meltdown: Another Black Monday indeed!!

Asia bourses down between 3-5% today. European bourses plummeting between 5-10% at the present moment. And Dow is struggling to avoid a more than 5% plunge... Surprising? Not at all if you believe my layman view in all my previous blog posts on market trend. Perhaps, all of you would find me unconvincing due to the lacking of the macro and micro economic terms used. Who is having the last laugh now??
So now, who would you believe? Those so called geniuses that CNBC and Bloomberg interviewed or one layman who happened to possess some basic knowledge but enough experience to look beyond.
For the past one year, they have indeed been investing in a state of denial. Creating false hopes and breaching the rule of thumb which is in this case "'hope' is forbidden in equity market". New rule of thumb? Well, it is new to all of you but definitely not to me. This one belongs to me. My creation through my experience. 'Investment based on hope' Kills!!
Subprime failure was the main market force this time. The moment subprime crisis started to erupt, the whole financial foundation from the US through Europe started to crack. And when the cracks appear, it is only a matter of time the whole infrastructure would collapse and bring along everything that was resting on top of it. One thing good about Market Force is: Market force does not discriminate between the rich and the poor. And it is color blind too. Once it strikes, it would just take everything that stand in its way. Our job is to Stay Clear. So simple. Do we really need Oxford's or Harvard's grads or those daily gurus who were picked to give their views over the television to tell us what to do?
Even at this very moment, Bush is talking bulls 'live' on TV trying to hoodwink the Americans.
Go back and read my previous postings for more clues. Catch the main underlying tone. I hope you have learn a thing or two from my layman explanation here. I welcome any challenge from around the world. Please contradict me... Depression? Tell me about it!

The Whisperer taking few days off blogging in support of RPK...

Din Merican with Free Tshirt Man (3rd from left). My apology for
taking your tshirt without getting to know you.

Crankshafted- The Bad Ass C that was never be...
Glad that you came and my honour meeting you

Yours Truly with my new found Malaysian brothers and sister.
Sorry I can't remember your names except for Clair's..
Nevertheless, we came together as One today.

First and foremost, I must Salute Haris for his effort to bring all of Us together and to those other bloggers, Zorro, Delcapo, Queenie, Lulu, RWinds and many others who played their part and made this possible. My Salute to all of you for all your undying dedications towards This Fight... This Fight Has to Go On!!
I arrived at the courthouse at 7:11 am sharp with no one in sight. I thought I was at the wrong place as there is another one just down the road. Maybe I was kiasu for not wanting to miss out the chance of catching a glimpse of RPK... but the Truth was that I just wanted to avoid our infamous jam. I decided to loiter around for awhile until my buddy (KL Chua) finally made his way here. You see, he was actually on a self-imposed half day hartal (big sacrifice for people of his nature). We went for breakfast and by the time we got back, there was a crowd of about 40 people gathering outside the courthouse.
At about 8:30 am Raja Petra arrived in a heavily tinted van. There he was, looking frail in handcuffs with a white plastic bag of personal belongings hanging from his arm. My heart ached... amidst the sudden numbness that took over my whole body. When can we, as citizen of this beautiful multi racial country, enjoy the Freedom of Expressing the Truth without being subjected to Fear and Intimidation? It was a Sad and Hurtful Day for The People today. My story stopped here...
For further details, please log on to
People's Parliament or Delcapo or Zorro's for better account of today's event.
Haris, thanks for your pics.

Friday, October 3, 2008

Scandal Behind Portfolio Change: It's All About Money...

With our renowned Raja Petra in detention, came another blog to the people rescue- to continue with the legacy of Malaysia-Today. The legacy of exposing the truth behind every moves taken by the people walking the corridor of power.
Two tales appeared in the span of 3 days:

The Defense Ministry is currently undergoing negotiations with Eurocopter Malaysia Sdn Bhd for its RMAF’s Nuri replacement programme. Defense Minister Datuk Seri Abdullah Ahmad Badawi said that the Ministry had already sent Eurocopter a Letter of Intent (LOI). Asked why Eurocopter was selected, Abdullah said that the Ministry would have “considered all the necessary specifications in the helicopters” before making a decision, but declined to elaborate. Read more here.


I was told that Najib’s wife has met Bala in the British Isle few days after the private eye went missing and paid Bala RM5 Million. I was told that Bala and family are seeking the Indian citizenships. I truly hope this is not true and Rosmah will make a statement to deny this. At the same time, I hope the good Malaysians in certain places can check on the validity of the timing to ensure that Rosmah was actually somewhere in the British Isle during the few days after the disappearance of Mr. Bala. Read more here.

Yeah, the plot thickens. Now we are able to piece this jigsaw together and get a clearer picture of the real reason behind these moves. "We are in it together, so together we stand and together we fleece the country and the people. Just share some of the money with those who helped carry out our dirty job".

If all these are true, This is How Rotten Our Country is Now.

Bookmark the above blog link. That's the purpose of this post.

Maybank-BII Marriage with Unusual High Dowry...

Maybank chiefs to come under scrutiny
By John Aglionby in Jakarta
Malayan Banking’s (Maybank) bosses can expect to come under scrutiny for completing its purchase of Bank Internasional Indonesia (BII) despite securing a discount on the price agreed six months ago.
Maybank on Tuesday bought 55.7 per cent of Indonesia’s eighth largest bank from Sorak Financial Holdings for $1.24bn, a 15 per cent rebate on the original $1.5bn deal. The Malaysian lender will now make a tender offer for the remaining shares at the originally agreed Rp510, or $1.2bn for all of them.
Considering BII’s shares closed at Rp310 last Friday, the numerous analysts who say Malaysia’s largest bank has paid far too much for a mediocrely performing bank appear to have strong grounds for criticism.
But as he announced the deal late on Tuesday, Abdul Wahid Omar, Maybank’s president and chief executive, claimed he was “happy” with the price. He said the BII deal would enable Maybank to expand into what he describes as a “key market”.
While Maybank’s shareholders will have to wait a long time to see returns on their BII investment, the Malaysian bank is one of a slew of foreign competitors eyeing south-east Asia’s largest economy.
Last month Barclays bought the whole of Bank Akita, which has only 10 branches and assets of $100m compared with BII’s 230 branches and assets of $6bn.
And in the last two years foreign buyers of Indonesian banks have included Mitsubishi, Texas Pacific Group, the Industrial and Commercial Bank of China, Commonwealth Bank of Australia and Rabobank of the Netherlands.
“Maybank’s certainly gone out on a limb in the amount it’s paid to get into the market,” one Jakarta-based foreign banker said. “But it’s in very good company in wanting to be here.”
Barclays said the Akita acquisition was part of its strategy to “expand into emerging markets with good growth characteristics”.
Analysts consider Indonesia’s “good growth characteristics” to be many and varied. Unlike five years ago Indonesia is now considered politically stable when compared to neighbouring Malaysia and Thailand. Next year’s legislative and presidential elections in Indonesia are expected to be keenly fought but contested within the rules.
Indonesia’s economy, while undoubtedly underperforming and heavily reliant on commodities such as coal and palm oil, is regarded as being built on sound fundamentals.
The International Monetary Fund, in its annual assessment in July, said the economy was relatively unscathed by the global economic turmoil.
Of more significance to Maybank and its competitors, the IMF said the banking sector is proving largely “resilient to macroeconomic shocks and exchange rate risks”.
Furthermore, well under half the Indonesian population and little more than a quarter of the small and medium enterprises use the formal banking sector, meaning there is plenty of room for growth.
Numerous banks, including HSBC and Citigroup, have started seeking out these markets by establishing services offering unsecured micro-loans.
“With the economy growing at 6.3 per cent in the first half of the year, Indonesia’s potential new customer base is growing all the time,” the foreign banker said. “It really is a land of opportunity.”
Reported in The Financial Times
The manner of which Maybank went into this deal is enough to raise suspicion among the locals. Being a government owned public listed entity, the failure by the government to call for an investigation into the dubious nature of this bid is indicative of its collaboration in the scandal behind this very deal. Again, there are benefactors at the expense of the minority shareholders.
With this deal, this management has lost its credibility and Maybank has turned into any other previous government owned busted banks like Bank Bumiputra. Sell Maybank shares as one can expect more scandals to arise in the near future.
Ill intention right from the beginning. Perhaps, Temasek can help shed some light.

Wall Street As i See It: The Truth Hurts!!

Wall Street Volatility: Hedge Funds Unwinding??

The recent signs of desperation by US authorities seeking a USD 700B bailout plan for Wall Street is clearly an admission by the administration on the seriousness of the problem that plagued the country's financial system and the recently announced economic datas (declining manufacturing data and rising unemployment) further indicate that the country's real economy is heading for further steep decline.

Knowing these facts together with mixed comments by those so called gurus (80% bullshitters) interviewed on CNBC and Bloomberg, there are indeed uncertainties over the workability of this USD 700B bailout package. It doesn't matter how they want to term it. Rescue Plan or a Bailout Plan? Just a propaganda delusion trick! The fact remained no matter how want to call it. US is already in recession and this time it is going to take a long time before they can recover.

With this uncertain scenario, one only need to ask themselves this question: Is Dow attractive enough for hedge funds to remain invested in there? Don't listen to Bernanke or Paulson. They are just political puppets and their credibilities have been flushed down the drain ever since the subprime problems emerged. All their lies and assurances only delayed the truth of this financial holocaust.
We only need to understand the behaviour of hedge fund here. Would any hedge fund place their money on markets with gloomy days ahead? It would be stupid for any of them to do so. Only logical thing for any hedge fund manager to do is to cash out now. And how are they going to do it? They are going to make full use of news and economic datas to unwind their position. That should explains the volatile behaviour of Dow.
As a layman, it would be advisable and cash out on strength and consolidate your finances. Do not tread the equities as you would most probably be getting yourself into trouble. Do not hold any long term view for the time being. If you intend to trade the volatility, use the 'hit and run' technique with a 5% stop loss point.
From where i stand, it would be better for one to stay clear as the return is not worth taking the risk, not to mention those stress involved.
Ignore George Bush and with all due respect, ignore Warren Buffet too. Bush doesn't know a thing about economy and it doesn't hurt Warren Buffet at all if he makes a USD 10B mistake. Can anyone of you afford further losses?
In other words, It is Time to Fold!! We are not even near the bottom yet. Better bet is to trade the Dow futures. Short Dow futures on Strength. Concentrate and Be Patient. Hit only when you feel the Time is Right.
For God sake, learn to filter off those interviews over CNBC and Bloomberg. Full of garbage. Full of baseless false hopes. Avoid those who talked with a saleman's pitch for example, that Kudlow guy. I bet if he put his money where his mouth is, he would be Dead years ago.