Private Banking Services? Worth it?

[richwang]

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

[indomie]

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".

[richwang]

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.

[roly8]

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

[chiaberry]

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.

[stl67]

Thanks Richard. Is CLN same as ELN - Equity link note?

[dtrax]

oh wdf.. DBS Treasures Private Client tio sexposed on news. As what a member here said, CC all clients email.

[auroraborealis]

wouldn't b surprised if olam is one of the familiar names

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

[GORDON]

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