This is an elderly statesman, who has relinquished power and who has biased and prejudiced views. But, he seems to be unable to accept the fact that he is no longer the ruling leader or the spokesman of the country. He still likes to make statements and comments on all sort of things. However, he lacks objectivity and fairness. As a result, his views are not taken seriously.
An example is his call for the boycott of US goods because of Isreal's invasion of the Palestinian controlled Gaza Strip. True, the Isreal aggression is cruel and brutal. But, he made no mention of the rockets fired at Isreal from the Gaza Strip. Also, his economic deliberations are no very sound. Hence, a lot of people, including the ruling leaders, don't agree with him.
Over the years, he has rattled a lot of biased and prejudiced views. Internationally, he is recognized more as a loose cannon than a credible statesman. As such, not much is taken for what he says.
Monday, January 12, 2009
Tuesday, December 16, 2008
Budget Travel
Malaysians are having a bonanza time in the travel arena. Near free air tickets to international destinations are offered by Air Asia, Firefly and lately even MAS. What does all this mean to our economy?
It all depends on whether we are attracting more foreign tourists than the number of Malaysians going overseas. If the prevalence of budget travel has resulted in more Malaysians jumping on the bandwagon, then the local economy would probably suffer a bit. Local tourist destinations would probably have fewer visitors. Also, Malaysians doing their shopping overseas while on holiday would be buying less at home.
If the budget carriers have attracted more foreign travellers to the country, then the economy should be better off. The tourism revenue would be increased. This would improves our country's balance of payment. But, my gut feeling is that this is not the case.
It all depends on whether we are attracting more foreign tourists than the number of Malaysians going overseas. If the prevalence of budget travel has resulted in more Malaysians jumping on the bandwagon, then the local economy would probably suffer a bit. Local tourist destinations would probably have fewer visitors. Also, Malaysians doing their shopping overseas while on holiday would be buying less at home.
If the budget carriers have attracted more foreign travellers to the country, then the economy should be better off. The tourism revenue would be increased. This would improves our country's balance of payment. But, my gut feeling is that this is not the case.
Wednesday, December 3, 2008
Poor MCA
It is a pity that the MCA has not had a strong leader for the last 30 years. All the leaders had not been strong characters and a few of them were embroiled in personal business problems. What this means is that the Chinese community was not well represented. They were at the losing end of a power sharing alliance.
The latest one is no exception and to my mind the worst. From day one, he has decided to relegate his deputy. He has decided to divide and rule. He thinks that his faction alone will be able to run the show. And he has the cheek to tell the community that he is not sidelining his deputy. Who is he trying to fool. His action smacks of arrogance.
The deputy president of MCA may not be the most holy of all man. But, he is legitimately elected. He has the support of most of the grassroots in MCA. This point should be considered. He is also a capable leader. His talents should be tapped for the betterment of the community.
It is said that unity is strength and division is the recipe for disaster. So the new MCA president better get smart and learn to live with his deputy. Only by working together can the MCA be strong and be well prepared to represent the community.
Look at Obama. He has appoint his opponent in the primaries, Hilary Clinton, as his secretary of state. He has also appointed a republican senator as a member of his cabinet. The MCA president should take a lesson from him.
The latest one is no exception and to my mind the worst. From day one, he has decided to relegate his deputy. He has decided to divide and rule. He thinks that his faction alone will be able to run the show. And he has the cheek to tell the community that he is not sidelining his deputy. Who is he trying to fool. His action smacks of arrogance.
The deputy president of MCA may not be the most holy of all man. But, he is legitimately elected. He has the support of most of the grassroots in MCA. This point should be considered. He is also a capable leader. His talents should be tapped for the betterment of the community.
It is said that unity is strength and division is the recipe for disaster. So the new MCA president better get smart and learn to live with his deputy. Only by working together can the MCA be strong and be well prepared to represent the community.
Look at Obama. He has appoint his opponent in the primaries, Hilary Clinton, as his secretary of state. He has also appointed a republican senator as a member of his cabinet. The MCA president should take a lesson from him.
Tuesday, December 2, 2008
Fundamentally wrong investing?
For a retired person, it is always recommended that you invest conservatively. Take little risks and aim for a steady income. By this, it means that you invest in some low beta stocks while has a high dividend yield. Try to preserve capital.
For a GLC, its investing principles should be the same as that of a retired person. Take no risks. However, this GLC seems to be doing the opposite. It is selling off its safe assets like power plants and buying much riskier assets like investment banks - worst still USA ones. Billions of dollars are at play.
Will it pay off? Probably only time will tell. But, as of this moment, I think it is sitting on a huge paper loss. Big brains are supposed to be running the company. I wonder how those guys are feeling now.
For a GLC, its investing principles should be the same as that of a retired person. Take no risks. However, this GLC seems to be doing the opposite. It is selling off its safe assets like power plants and buying much riskier assets like investment banks - worst still USA ones. Billions of dollars are at play.
Will it pay off? Probably only time will tell. But, as of this moment, I think it is sitting on a huge paper loss. Big brains are supposed to be running the company. I wonder how those guys are feeling now.
Wednesday, October 22, 2008
Currency exchange
The current financial crisis is causing havoc in the currency exchange market. The exchange rate for the currencies have fluctuated wildly. For example, the US dollar, which has been on a slide for most of the first half of this year, suddenly turned around. Similarly, the Japanese Yen has strengthened. As a consequence, many other currencies, including the Ringgit, have declined in value.
Mostly, the currency movement is caused by the shifting of funds by investors. The unwinding of the carry-trades by the Japanese is causing the Yen to rise and vis-a-vis the Aussie dollar to decline. Similarly, the repatriation of funds by US institutional investors is causing the US dollar to be on a tear.
The Ringgit had its best day against the US dollar in late April when it was trading at about 3.13. It is now at 3.54, a lose of 13%. The Ringgit has also gone to below 10 Baht. All this is good news for the expoters. However, for the average citizen, the price of imported goods has gone up. And with it .... inflation.
Mostly, the currency movement is caused by the shifting of funds by investors. The unwinding of the carry-trades by the Japanese is causing the Yen to rise and vis-a-vis the Aussie dollar to decline. Similarly, the repatriation of funds by US institutional investors is causing the US dollar to be on a tear.
The Ringgit had its best day against the US dollar in late April when it was trading at about 3.13. It is now at 3.54, a lose of 13%. The Ringgit has also gone to below 10 Baht. All this is good news for the expoters. However, for the average citizen, the price of imported goods has gone up. And with it .... inflation.
Warren Buffett
Warren Buffett sure drives a hard bargain. He exacts fantastic terms from the sellers when they are down and desperate. He puts his money where his mouth is by following his investment philosophy of being greedy when others are fearful. This makes him and Berkshire Hathaway shareholders a very happy lot. But what about the shareholders of the acquired companies? Or the CEOs of those com. Wouldn’t they feel being taken advantage of? Couldn't he showed them some compassion?
WB is the richest man in the world. He has already committed to giving most of his wealth to charity. So why does he still try so damn hard to make more money? Is there still a point for him to prove? Maybe he should use more of his heart than brain in his wheeling and dealing.
I think this is the best time for him to do some National Service. Resign as CEO of BH. Volunteer to be in a position that can help solve the credit crunch. Use his own money to help if need be. This way, he will leave a much better legacy.
WB is the richest man in the world. He has already committed to giving most of his wealth to charity. So why does he still try so damn hard to make more money? Is there still a point for him to prove? Maybe he should use more of his heart than brain in his wheeling and dealing.
I think this is the best time for him to do some National Service. Resign as CEO of BH. Volunteer to be in a position that can help solve the credit crunch. Use his own money to help if need be. This way, he will leave a much better legacy.
Monday, October 20, 2008
US Election
It looks like Barack Obama is set to win the Nov. 4th election. How interesting, a person from the minority group becomes the president. America is really a land of hope and dreams.
That race is not a big consideration in the choice of president is a big plus for meritocracy. It shows that integration in US is more thorough. Race is not the top consideration in their daily life. This is also perceptible from the reality shows. Generally, they don't practise racial discrimination. The whites treat the blacks as equals even though the latter are subtly more cunning and devious.
Compare them to us, we are far far behind. Everything is done based on racial consideration. From the government policies to the local authorities, every action is carried out with a racial overtone. Worst still, because of majority control, racial discrimiantion is prevalent in policy implementation.
Even politic is played based on race. You have political parties based on race and fighting for the rights of their particular race. Verbal contests on each race's rights are often aired. The people's feelings are aroused. They become racial and think along racial lines. And this perpetuates .....
That race is not a big consideration in the choice of president is a big plus for meritocracy. It shows that integration in US is more thorough. Race is not the top consideration in their daily life. This is also perceptible from the reality shows. Generally, they don't practise racial discrimination. The whites treat the blacks as equals even though the latter are subtly more cunning and devious.
Compare them to us, we are far far behind. Everything is done based on racial consideration. From the government policies to the local authorities, every action is carried out with a racial overtone. Worst still, because of majority control, racial discrimiantion is prevalent in policy implementation.
Even politic is played based on race. You have political parties based on race and fighting for the rights of their particular race. Verbal contests on each race's rights are often aired. The people's feelings are aroused. They become racial and think along racial lines. And this perpetuates .....
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