Thursday, March 08, 2007

20070308 This organisation is one of the Investment Banks classified by Bank Negara Malaysia. It is one among others which offer so called investment banking services.(as seen from their 'services;' offerings) But futures/options broking is not one of these services. With the recent crash of world's stock markets, I wonder how the employees of this question answer customer enquiries such as: "We think the markets might correct, can you short some futures contracts to hedge our portfolio?". Without a futures broking arm the answer might come back as, "Er, sorry we don't offer futures broking services." These are the flagship financial institutions of Malaysia, who can hold themselves out as investment bankers, yet do not provide risk management services such as futures. Bursamalaysia should revamp the trading memberships structure, pay back the RM1.5million to be a trading member, start afresh and rope in the remaining Universal brokers, small brokers and the investment banks to be members of Bursamalaysia Derivatives Exchange. Undo the mistake of leaving out the derivatives industry from the demutualisation of the then KLSE, start afresh and make hedging/risk management an integral part of the Malaysian capital market landscape.

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"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil

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From Dragons and Bulls by Stanley Kroll
Introduction and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Larry Hite: The Billion Dollar fund Manager
Systems Trading:Kroll's Suggested Method
Buy the Strength Sell the Weakness
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system