View Full Version : Private Banking Services? Worth it?
Anyone here uses Private Banking Services?
Is it worthwhile vs investing yourself?
Which one is good? I notice different banks have different min. sums to be in private banking...
Thoughts and ideas appreciated as I super sotong here.. :beats-me-man:
You have to be careful. There are no free lunch. Private banking often use u as opposing trade. They sell to u product that they need to get rid off. They make u feel important, when in fact u are their muppet. When u are losing money, they don't call you that much often anymore. But I like their free cookies.
They like to sell you products that generate big commission for them rather than products that are really suitable for you. And sometimes you don't even understand the product that they are selling to you. Unless you are prepared to spend time talking to them and cross-checking the products that they offer, I feel it's not worth it.
You have to be careful. There are no free lunch. Private banking often use u as opposing trade. They sell to u product that they need to get rid off. They make u feel important, when in fact u are their muppet. When u are losing money, they don't call you that much often anymore. But I like their free cookies.
haha bingo ~
Anyone here uses Private Banking Services?
Is it worthwhile vs investing yourself?
Which one is good? I notice different banks have different min. sums to be in private banking...
Thoughts and ideas appreciated as I super sotong here.. :beats-me-man:
Depends. You can do both actually. Get yourself into the PB services and request your banker to invest in whatever instrument you preferred. There are some instrument, eg. corporate bonds which are not available to individuals but available through PB - I think... But of course, always do your homework first before investing :p
Anyway, I do not qualify - haha!:scared-2:
You have to be careful. There are no free lunch. Private banking often use u as opposing trade. They sell to u product that they need to get rid off. They make u feel important, when in fact u are their muppet. When u are losing money, they don't call you that much often anymore. But I like their free cookies.
They like to sell you products that generate big commission for them rather than products that are really suitable for you. And sometimes you don't even understand the product that they are selling to you. Unless you are prepared to spend time talking to them and cross-checking the products that they offer, I feel it's not worth it.
Thanks for the warning. :D
Let me share my opinion.
Ya, I am a private banking customer, and enjoying the same rate as their staff. I studied all the products they offered and comparing with others before making my decision.
I have rejected many products offered by the banks including insurance, equity link note etc
Let me share my opinion.
Ya, I am a private banking customer, and enjoying the same rate as their staff. I studied all the products they offered and comparing with others before making my decision.
I have rejected many products offered by the banks including insurance, equity link note etc
can we say that it is best to be private banking to enjoy the discounted rate but rejected all their other products? :o :D
Anyone here uses Private Banking Services?
Is it worthwhile vs investing yourself?
Which one is good? I notice different banks have different min. sums to be in private banking...
Thoughts and ideas appreciated as I super sotong here.. :beats-me-man:
If U do little investment knowledge, pls do not go for private banking. They will "help" U to lose money.
If U are able to manage your emotional investment behaviour (GREED , FEAR , IMPATIENCE, Invest base on HOPE etc), U will likely to have a good or huge return. Just imagine that if U will to invest during the Financial tsunami on OSIM. Your 60k in 2008 become 1.7million in today price. Too bad, I did not invest during EXTREME fear mkt.
The extreme fear mkt will come again. Just need to be very very very patience. A person life time will encounter at least 8 deep deep mkt downturn. U just need to be ready, have "BULLETs" & couragerous will it come.
auroraborealis
26-11-12, 17:40
depends on background knowledge on financial mkts n prodts
if you're from different discipline like engineering or healthcare
mayb worthwhile to set up account
treat as learning opportunity, ask lots of questions
but dun invest in all the high risk prodt at the start
if net worth qualify as PB customer, put SGD fixed deposit also can one
treat lower interest rate as paying school fees 1st :2cents:
Anyone here uses Private Banking Services?
Is it worthwhile vs investing yourself?
Which one is good? I notice different banks have different min. sums to be in private banking...
Thoughts and ideas appreciated as I super sotong here.. :beats-me-man:
Condo Kaiser
26-11-12, 17:47
I can categorically say that there is no harm in engaging the service of a private banker. the fee is a small price to pay for the greater access to markets and products.
Just make sure u are dealing with one of the major players. and dont be fooled by those bankers who says they can give u "private banking status" with less than USD1mil (a lot of smaller players anyhow give out private status)... you end being just a glorified premier banking client.
there are a lot of products u can ask the bankers to structure for you... sky's the limit as long as they have a strong backing from the trading desk. U can even ask your private banker to intro u to the IB guys if your company is looking to raise debt or equity.
just a very basic simple product which private banks have been pushing more now..
CLN (credit linked notes) - you can get 4-7% pa return on almost risk free names. just do a FTD with INDON / CAPITALAND / DBS / MALAY for example.. no way in hell any of those will default in the next 3 years.
if you leverage a little your return will be even higher...
dont be greedy and only care about their free food or look at the chio bu banker.. a lot of ways to make money.. just need the right connection..
have a open mind.. everyone huat!
Bro, which private bank u recommend? I pai seh, not in that club... Been doing my own investment... What is the AUM?
I can categorically say that there is no harm in engaging the service of a private banker. the fee is a small price to pay for the greater access to markets and products.
Just make sure u are dealing with one of the major players. and dont be fooled by those bankers who says they can give u "private banking status" with less than USD1mil (a lot of smaller players anyhow give out private status)... you end being just a glorified premier banking client.
there are a lot of products u can ask the bankers to structure for you... sky's the limit as long as they have a strong backing from the trading desk. U can even ask your private banker to intro u to the IB guys if your company is looking to raise debt or equity.
just a very basic simple product which private banks have been pushing more now..
CLN (credit linked notes) - you can get 4-7% pa return on almost risk free names. just do a FTD with INDON / CAPITALAND / DBS / MALAY for example.. no way in hell any of those will default in the next 3 years.
if you leverage a little your return will be even higher...
dont be greedy and only care about their free food or look at the chio bu banker.. a lot of ways to make money.. just need the right connection..
have a open mind.. everyone huat!
bros
you already have a private "banker" which is in the form of agent....
I can categorically say that there is no harm in engaging the service of a private banker. the fee is a small price to pay for the greater access to markets and products.
Just make sure u are dealing with one of the major players. and dont be fooled by those bankers who says they can give u "private banking status" with less than USD1mil (a lot of smaller players anyhow give out private status)... you end being just a glorified premier banking client.
there are a lot of products u can ask the bankers to structure for you... sky's the limit as long as they have a strong backing from the trading desk. U can even ask your private banker to intro u to the IB guys if your company is looking to raise debt or equity.
just a very basic simple product which private banks have been pushing more now..
CLN (credit linked notes) - you can get 4-7% pa return on almost risk free names. just do a FTD with INDON / CAPITALAND / DBS / MALAY for example.. no way in hell any of those will default in the next 3 years.
if you leverage a little your return will be even higher...
dont be greedy and only care about their free food or look at the chio bu banker.. a lot of ways to make money.. just need the right connection..
have a open mind.. everyone huat!
Thanks Kaiser, that is great advice! I was looking at various private banking options, like DBS and UOB asking for 5M minimum yet OCBC's arm is requiring 1M USD. Do you have any recommendations?
(erm with Chio Bu banker lagi better la :D)
toiletsiao
26-11-12, 20:23
Bro, which private bank u recommend? I pai seh, not in that club... Been doing my own investment... What is the AUM?
AUM = Asset Under Management
Thanks Kaiser, that is great advice! I was looking at various private banking options, like DBS and UOB asking for 5M minimum yet OCBC's arm is requiring 1M USD. Do you have any recommendations?
(erm with Chio Bu banker lagi better la :D)
I have checked with all locals, and found that products are not impressive and RM standard can be better.
Pricing also not attractive.
AUM = Asset Under Management
I know... Just want to know minimum aum for private banking amongst various banks... Hahaha
And which is good? Need to look at options... My Citibank rm so scared I go private...
I know... Just want to know minimum aum for private banking amongst various banks... Hahaha
And which is good? Need to look at options... My Citibank rm so scared I go private...
Dont waste time with them la!
If you need investment advice, might as well ask Office Boy over a dinner ...
Office Boy is not accredited, but so far, most people talk to me a few times Huat Ah!
But I dont talk to many people la ... gotta be selective.
DKSG
This takes the cake.. hahaha..
Today I received an email on a survey for private banking client...and here goes.. something very ironic...
"We are conducting this survey with the help of Retail Finance Intelligence (RFi), an independent research agency responsible for the Singapore Private Banking Council. Please be assured that your personal and account information will not be shared with RFi. All responses that you provide in this survey are anonymous and will be treated with absolute confidentiality."
You know what??... They try to recall the email but cannot...
I wonder why and i clicked on the email headers... .OPS... THEY USED CC instead of BCC.
Now, I have the whole list of customers email at my disposal.. lol
Bro, from wat bank?
Steam man...
This takes the cake.. hahaha..
Today I received an email on a survey for private banking client...and here goes.. something very ironic...
"We are conducting this survey with the help of Retail Finance Intelligence (RFi), an independent research agency responsible for the Singapore Private Banking Council. Please be assured that your personal and account information will not be shared with RFi. All responses that you provide in this survey are anonymous and will be treated with absolute confidentiality."
You know what??... They try to recall the email but cannot...
I wonder why and i clicked on the email headers... .OPS... THEY USED CC instead of BCC.
Now, I have the whole list of customers email at my disposal.. lol
Thanks Kaiser, that is great advice! I was looking at various private banking options, like DBS and UOB asking for 5M minimum yet OCBC's arm is requiring 1M USD. Do you have any recommendations?
(erm with Chio Bu banker lagi better la :D)
Even the hedge funds are losing money in this volatile mkt. What make you think your private banker can help U to make a decent return. Majorities of the clients are losing money from improper advise. The private banker has a sale tgt to hit. From 30m to 100m. They will pump alot of investment ideas to U so that U will invest.
Only used private banking to leverage buying GOOD bond with high LTV. Next 2 years should be safe. If U have a fairly investment knowledge. Use Saxo for FX & E-trade to ELN. Almost same product better return (10-15%).
rdgs,
Vic
Bro, from wat bank?
Steam man...
Local bank.. :) this one is BANK Level. woohoo..
Not the first time... last time, it was a RM level. My foreign bank RM did the same (cc instead of bcc) with her clients and I can see all their emails..
Very hard to control if your mind wonders off somehow.. Too use to CC everyone in the company when doing email shooting within the office and forgot about turning it to bcc when dealing with outsiders.
Bro, wars the diff between privilege vs private banking... Need to know a bit before I decide to do private...
One of the reasons why I did not do was I did my own investing....
Can give me a constructive opinion?
Local bank.. :) this one is BANK Level. woohoo..
Not the first time... last time, it was a RM level. My foreign bank RM did the same (cc instead of bcc) with her clients and I can see all their emails..
Very hard to control if your mind wonders off somehow.. Too use to CC everyone in the company when doing email shooting within the office and forgot about turning it to bcc when dealing with outsiders.
This takes the cake.. hahaha..
Today I received an email on a survey for private banking client...and here goes.. something very ironic...
"We are conducting this survey with the help of Retail Finance Intelligence (RFi), an independent research agency responsible for the Singapore Private Banking Council. Please be assured that your personal and account information will not be shared with RFi. All responses that you provide in this survey are anonymous and will be treated with absolute confidentiality."
You know what??... They try to recall the email but cannot...
I wonder why and i clicked on the email headers... .OPS... THEY USED CC instead of BCC.
Now, I have the whole list of customers email at my disposal.. lol
i already did that survey from GTM...
which idiot bank(er) is that
Bro, the different is the cash amount. Privilege/priority needs at least 300k. Private is beyond 1mil. Was asked to upgrade to Private but did not unless you really involved in active investment of ETFs, etc.
Bro, wars the diff between privilege vs private banking... Need to know a bit before I decide to do private...
One of the reasons why I did not do was I did my own investing....
Can give me a constructive opinion?
Condo Kaiser
27-11-12, 09:28
I think some of you guys dont really have a clear idea of what a good private bank can offer. It is a lot more than just selling some random products to you.
first u need to know that simply having few mil in your bank account doesnt mean u can take advantage of the full suite of service your private bank can offer. a lot of the stuff they do for you goes beyond making more money for you. as a private banking customer, you should have your own ways of making money (be it high paying private sector career or your own business), and tht is where you should put most of your focus on...
when you are very rich, making super higher returns is no longer your aim, a large part of your concern will be on succession planning for your family business, estate planning for your vast fortune. wealth preservation for your legacy. philanthrophy will also be something your banker can help you with (with tax benefits in most cases). or if you fancy, they can set up a private viewing of some fine art before they go for public auction.
so bottome line, no point getting private banking service if you are not there yet cos you wont enjoy most of their services. those claim to give you private status with small AUM all is bullshit, just glorified premiere banking clients.. still sell u the same dual ccy products, ask u buy the same unit trust.. just nicer room to sit and prettier receptionist...
Already invited to those sessions without being a private banking status.;)
I think some of you guys dont really have a clear idea of what a good private bank can offer. It is a lot more than just selling some random products to you.
first u need to know that simply having few mil in your bank account doesnt mean u can take advantage of the full suite of service your private bank can offer. a lot of the stuff they do for you goes beyond making more money for you. as a private banking customer, you should have your own ways of making money (be it high paying private sector career or your own business), and tht is where you should put most of your focus on...
when you are very rich, making super higher returns is no longer your aim, a large part of your concern will be on succession planning for your family business, estate planning for your vast fortune. wealth preservation for your legacy. philanthrophy will also be something your banker can help you with (with tax benefits in most cases). or if you fancy, they can set up a private viewing of some fine art before they go for public auction.
so bottome line, no point getting private banking service if you are not there yet cos you wont enjoy most of their services. those claim to give you private status with small AUM all is bullshit, just glorified premiere banking clients.. still sell u the same dual ccy products, ask u buy the same unit trust.. just nicer room to sit and prettier receptionist...
Condo Kaiser
27-11-12, 09:48
Bro you must have done very well for yourself if you have been invited to an individual private viewing of Christie's or Sotheby's acution before items are displayed. I've never been invited.
And you are probably not a private banking client by choice and not limited by circumstance.
It is a good feeling when invited to those sessions but I am a simple person. Just prefer to do planning on my own than to rely on other people as I enjoy learning while investing. Difficult to find another good banker after my banker for many years left for home.
Bro you must have done very well for yourself if you have been invited to an individual private viewing of Christie's or Sotheby's acution before items are displayed. I've never been invited.
And you are probably not a private banking client by choice and not limited by circumstance.
wl my advice sir:
just put fixed deposit at 1.x% at uob privilege reserve, and just grab the rewards/freebies.
storm coming, cash is king. in the meantime, enjoy free yacht, free makan, metal card w 10x uni$ etc from uob. zero risk
But your Cash is depreciating.
wl my advice sir:
just put fixed deposit at 1.x% at uob privilege reserve, and just grab the rewards/freebies.
storm coming, cash is king. in the meantime, enjoy free yacht, free makan, metal card w 10x uni$ etc from uob. zero risk
wl my advice sir:
just put fixed deposit at 1.x% at uob privilege reserve, and just grab the rewards/freebies.
storm coming, cash is king. in the meantime, enjoy free yacht, free makan, metal card w 10x uni$ etc from uob. zero risk
My gut feel is also storm is brewing. Deposited some money last week in fixed deposit at 1% for six months.
But your Cash is depreciating.
I am very conservative. cash, gold, a little silver/art/diamonds at most.
no bonds and no equities.
buy when everyone is selling, sell when everyone is buying.
mass market condos at $1000-$1300 psf just means that there is more money than sense in the system. should mass market go back to $500-700psf it means there is more fear than money in the system.
i will never forget the upp bt timah debacle of the late 90s. or punggol/sengkang in early 2000s. only now do they break even or a slight profit.
in the meantime, live life to the fullest - enjoy one's family and kampei!
3.65% for AUD???!
http://instagr.am/p/ShhZcismpl/
3.65% for AUD???!
http://instagr.am/p/ShhZcismpl/
When Aussie dollar depreciates, the loss in exchange will be worse than the 2.65% difference.
My gut feel is also storm is brewing. Deposited some money last week in fixed deposit at 1% for six months.
I think so too!
Resale seems to be slowing since Oct. News lately seem to evolve around more supply, slowing sale volume and slowing growth in 2013. The curve may be at its turning point soon.
Keep enough cash as buffer or when opportunity arises.
Bro, the different is the cash amount. Privilege/priority needs at least 300k. Private is beyond 1mil. Was asked to upgrade to Private but did not unless you really involved in active investment of ETFs, etc.
Bro, I understand the diff. Normal previlege is 200k... I am with a few of them... I want to understand what more can be provided as a private? And see if I would use it? And if it is better off? If the difference is not a lot, I just skip lor... So u find not much diff? I now privilege banking client with a few bank, but nothing fantastic leh... So I trying to find out which private banking is good and what additional they can offer?:confused:
It seems nothing more leh....:confused:
Ok, bro dc, thanks for input... Dd u go into any of the 3d printer stocks?
:cheers4:
When Aussie dollar depreciates, the loss in exchange will be worse than the 2.65% difference.
i personally dun believe in investing in other currencies unless you have other plans (eg: retire in aussie). better to stay put with home currency. of course, long term horizon is good. those who have been in AUD for 10 yrs, would have gotten back 100% capital + FX appreciation.
news has been around over supply etc for a long time. hard to say whether accurate or not. few yrs back, pple were talking about over supply but the immigration policy sucked up everything.
i am not surprised we have a storm brewing in 2013. it's been churning for some time with all the EUR and US news coming in and out. the question is WHEN, not YES or NO. my only concern is when the storm come, how big it is, and more importantly, how long it will last.
3.65% for AUD???!
http://instagr.am/p/ShhZcismpl/
Bro, if u want Aussie fix d, put in bank in australia and earn 5%. Auto tax is 10%. Leaving u with 4.5%. U make a trip up to Aus, open a banking account at citi. Tie it with citi global banking and u can do it on line and via instruction to Aus citi... Better rates.
:cheers4:
I think so too!
Resale seems to be slowing since Oct. News lately seem to evolve around more supply, slowing sale volume and slowing growth in 2013. The curve may be at its turning point soon.
Keep enough cash as buffer or when opportunity arises.
Leeds, did u go in during 1997(Asian crisis), 2003(sars)or 2008/97(Lehman)? Or maybe u were young?:confused:
Local bank.. :) this one is BANK Level. woohoo..
Not the first time... last time, it was a RM level. My foreign bank RM did the same (cc instead of bcc) with her clients and I can see all their emails..
Very hard to control if your mind wonders off somehow.. Too use to CC everyone in the company when doing email shooting within the office and forgot about turning it to bcc when dealing with outsiders.
such a leak of confidential information will most likely result in someone getting the boot. if some of the clients take legal action, then hosayliao. dunno wad the bank will offer to appease the client. :cheers3:
Bro, if u want Aussie fix d, put in bank in australia and earn 5%. Auto tax is 10%. Leaving u with 4.5%. U make a trip up to Aus, open a banking account at citi. Tie it with citi global banking and u can do it on line and via instruction to Aus citi... Better rates.
:cheers4:
there's other alternatives to putting in FD to collect carry benefit.. with a long tie up the currency exposure can be extremely risky.
there's other alternatives to putting in FD to collect carry benefit.. with a long tie up the currency exposure can be extremely risky.
i m really clueless when comes to financial instruments. how i read what ur saying is that carry benefit means exchange rate benefits si bo? and long tie up.... this one offerz only max 4mth. super short term. now it sounds real gimmicky....
Leeds, did u go in during 1997(Asian crisis), 2003(sars)or 2008/97(Lehman)? Or maybe u were young?:confused:
Am I seeing something you aren't? Am quite sure older than you.
Didn't you invest in the last crisis (Lethman)? ;)
Am I seeing something you aren't? Am quite sure older than you.
Didn't you invest in the last crisis (Lethman)? ;)
There were "questions" within his question. Perhaps, he (Chestnut) could hejp to answer his own question so we could better appreciate his question.
There were "questions" within his question. Perhaps, he (Chestnut) could hejp to answer his own question so we could better appreciate his question.
Huh???? :confused: :confused:
Why question within a question??:confused: :confused:
You damn cheem.... :eek:
I think so too!
Resale seems to be slowing since Oct. News lately seem to evolve around more supply, slowing sale volume and slowing growth in 2013. The curve may be at its turning point soon.
Keep enough cash as buffer or when opportunity arises.
I will only go in when all the CMs are removed if that should happen in my life time. :rolleyes:
I will only go in when all the CMs are removed if that should happen in my life time. :rolleyes:
mar 2010 cm removed i veddy happy liao
I will only go in when all the CMs are removed if that should happen in my life time. :rolleyes:
few months ago, that was exactly what i told my agent.
I am afraid you will be seeing your money shrinking in "value" as time goes by... :beats-me-man:
My gut feel is also storm is brewing. Deposited some money last week in fixed deposit at 1% for six months.
Doesn't sound old enough to be able to act and seize past so many opportunities? :ashamed1:
Am I seeing something you aren't? Am quite sure older than you.
few months ago, that was exactly what i told my agent.
and what did he or she say in response?
and what did he or she say in response?
standard response which i myself would have said if i was a bull... that with each CM taken off, money on the sidelines would flow in. to wait for all CMs to be taken off and prices to fall another 20-30%, before entering the mkt. have to wait very long. well, the perfect storm has to brew. is it brewing now?
i am actually a bear on the ppty mkt right now.
Huh???? :confused: :confused:
Why question within a question??:confused: :confused:
You damn cheem.... :eek:
If I were you, I would take the course to engage the subject instead of asking personal questions on personal investment decisions; bearing in mind the need to always RESPECT the privacy of individual with reagrds to their personal investments ESPECIALLY if we do not know each other.
If you had asked would most people choose to invest during a crisis; that would make this discussion much more engaging and interesting.
Perhaps, it is your 'style' to get more information from your subject and than share your wisdom but it may not always goes well especially in PUBLIC.
Hope this clarified. I still very much enjoy your contributions to this forum.
I think so too!
Resale seems to be slowing since Oct. News lately seem to evolve around more supply, slowing sale volume and slowing growth in 2013. The curve may be at its turning point soon.
Keep enough cash as buffer or when opportunity arises.
Leeds, did u go in during 1997(Asian crisis), 2003(sars)or 2008/97(Lehman)? Or maybe u were young?:confused:
i m really clueless when comes to financial instruments. how i read what ur saying is that carry benefit means exchange rate benefits si bo? and long tie up.... this one offerz only max 4mth. super short term. now it sounds real gimmicky....
carry cost or benefit/swap happens on an overnight basis upon rollover for spot FX positions. if say u are long on a high yield currency pair (Carry trade) say AUD/USD or AUD/JPY, you will receive carry benefit. vice versa, if you are short on high yield currency pair, you will have to pay carry cost.
as such, with certain fx providers, you can take a position for really short periods of time (even 1 day or less) and still receive the carry benefits.. there's no need for a 4 mth exposure (which is relatively lengthy if u are taking a leveraged position considering the volatile markets in recent times).
just a very basic simple product which private banks have been pushing more now..
CLN (credit linked notes) - you can get 4-7% pa return on almost risk free names. just do a FTD with INDON / CAPITALAND / DBS / MALAY for example.. no way in hell any of those will default in the next 3 years.
if you leverage a little your return will be even higher...
My customers are private bankers and investment bankers. (I am in Risk Management).
Never try CLN as individual investor. Regardless how remote the chance is, if there is a credit event for Capitaland, all your PRINCIPLE is gone. Forget about the 4-7% yield.
Let me try to put CLN in layman terms. As an individual, do you BUY insurance or SELL insurance? If the answer is you BUY insurance, then you should not touch CLN.
CLN is SELLING an insurance and collects the premium of 4-7%. But if Capitaland goes bankrupt, you need to pay using all your principle money.
Most of the bankers cheat by putting lots of familiar names like DBS/SIA, etc to attract you. But if you read the fine print, if may say when ANY of those bankrupt, you are hit. And if you read the hidden fine prints (normally a few hundred pages), you will be surprised to know ANY indeed includes some of the company in Europe!
These are not simple products. Normally institutional investors have very complicated ways to hedge the risks - just look at the fact that they are willing to pay million dollars to use our (useless) systems, you know it is not simple.
When the product reaches individual, it means NO ONE in the institutional world is willing to act as the insurance issuer.
You still want to risk your 100% principle to earn the 7% "interest"?
Thanks,
Richard
My customers are private bankers and investment bankers. (I am in Risk Management).
Never try CLN as individual investor. Regardless how remote the chance is, if there is a credit event for Capitaland, all your PRINCIPLE is gone. Forget about the 4-7% yield.
Let's try to put in layman terms. As an individual, do you BUY insurance or SELL insurance? If the answer is you BUY insurance, then you should not touch CLN.
CLN is SELLING an insurance and collects the premium of 4-7%. But if Capitaland goes bankrupt, you need to pay.
Most of the bankers cheat by putting lots of familiar names like DBS/SIA, etc to attract you. But if you read the fine print, if may say ANY of those bankrupt, you are hit. And if you read the hidden fine prints (normally a few hundred pages), you will be surprised to know ANY indeed includes some of the company in Europe!
These are not simple products. Normally institutional investors have very complicated ways to hedge the risks - just look at the fact that they are willing to pay million dollars to use our (useless) systems, you know it is not simple.
When the product reaches individual, it means NO ONE in the institutional world is willing to act as the insurance issuer.
You still want to risk your 100% principle to earn the 7% "interest"?
Thanks,
Richard
thx for sharing, richard.
:o
Thanks richard... Now I understand
That is precisely why people who don't know how to read the fine print of the products sold by private bankers should not buy them. Even the private bankers themselves may not understand fully what they are selling.
Well who wants to sell insurance to Crapland? haha don't worry there will be takers.
That is precisely why people who don't know how to read the fine print of the products sold by private bankers should not buy them. Even the private bankers themselves may not understand fully what they are selling.
Well who wants to sell insurance to Crapland? haha don't worry there will be takers.
Well, I know a couple of very smart lawyers in the bankers. The document is designed to make sure that you will NEVER understand the true risks.
So don't blame yourself if you cannot understand the fine print.
Don't blame your bankers because they don't understand either.
It will be the lawyers failure if you actually understand it.
Just don't touch it!
you may earn one or two or three years. But the odds are definitely against you. When you loss, you loss BIG (well, after you loss 100%, the banker will say, "I've done a good job for you, at least you didn't get any margin calls, only lost your principle.").
Thanks,
Richard
That is precisely why people who don't know how to read the fine print of the products sold by private bankers should not buy them. Even the private bankers themselves may not understand fully what they are selling.
Well who wants to sell insurance to Crapland? haha don't worry there will be takers.
If the free cookies couldn't do the job to make u buy, there are still cio RM to call u night and day and call u "daddy".
Well, I know a couple of very smart lawyers in the banks. The document is designed to make sure that you will NEVER understand the true risks.
If the free cookies couldn't do the job to make u buy, there are still cio RM to call u night and day and call u "daddy".
you mean 'chio'?
that is the correct hokkien word :D
If the free cookies couldn't do the job to make u buy, there are still cio RM to call u night and day and call u "daddy".
haha I had typed something to that effect in my post but removed it.
Thanks Richard. Is CLN same as ELN - Equity link note?
oh wdf.. DBS Treasures Private Client tio sexposed on news. As what a member here said, CC all clients email.
auroraborealis
28-11-12, 22:57
wouldn't b surprised if olam is one of the familiar names :doh:
My customers are private bankers and investment bankers. (I am in Risk Management).
Never try CLN as individual investor. Regardless how remote the chance is, if there is a credit event for Capitaland, all your PRINCIPLE is gone. Forget about the 4-7% yield.
Let me try to put CLN in layman terms. As an individual, do you BUY insurance or SELL insurance? If the answer is you BUY insurance, then you should not touch CLN.
CLN is SELLING an insurance and collects the premium of 4-7%. But if Capitaland goes bankrupt, you need to pay using all your principle money.
Most of the bankers cheat by putting lots of familiar names like DBS/SIA, etc to attract you. But if you read the fine print, if may say when ANY of those bankrupt, you are hit. And if you read the hidden fine prints (normally a few hundred pages), you will be surprised to know ANY indeed includes some of the company in Europe!
These are not simple products. Normally institutional investors have very complicated ways to hedge the risks - just look at the fact that they are willing to pay million dollars to use our (useless) systems, you know it is not simple.
When the product reaches individual, it means NO ONE in the institutional world is willing to act as the insurance issuer.
You still want to risk your 100% principle to earn the 7% "interest"?
Thanks,
Richard
Well, I know a couple of very smart lawyers in the banks. The document is designed to make sure that you will NEVER understand the true risks.
thanks for the explanation about fine print and smart lawyers
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