The majority of the investors who visit my block agree with my views, including my suggestion to seek compensation at between 50% to 80% of the amount that they have lost. My view is that both parties (i.e the financial institution and the investor) should share the loss. The distributor earns 3% to 5% commission for selling the product. If they have to compensate 50%, it will be 10 times (or more) of what they earned.
A few people, such as Zorro, disagree with this view. They like to seek 100%. They have posted their views in a rude way. I have asked them to give their name and e-mail addresss, and be the focal point for other investors who hold similar views. They can also set up another blog.
They can also send an e-mail to me, arguing their point of view. They should disclose their name and contact. I will post it up in the blog.
I am aware that some visitors to my blog represents the financial institutions. They are posting certain views to distract the investors. It will be more honorable for them to disclose their real identity and argue these points.
I continue to get postings from SiewKhim with the sole purpose of insulting me. If SiewKhim has a real grievance against me, he (or she) can send an e-mail to me, rather than continue to behave in this manner. I hope that he realise that he is causing a lot of harm to the thousand of investors who need genuine help.
The investors can take collective legal action. Many people have warned that this will be expensive and a long drawn out affair. I agree with this point of view. It should only be considered at the last resort. The investors should be properly briefed and be aware about the cost and consequence, before they take this action.
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10/19 - 10/26
- HK Monetary Authority refers 40 more 'mini-bonds' ...
- Speech at Speaker’s Corner – 25 Oct 2008
- SCMP: Angry investors protest
- Speaker's Corner - 25 October 2008
- A serious recession in the months ahead
- Call for Public Inquiry - some views
- No compensation from ABN AMRO
- Just One Year
- Investors want open forum with DBS
- Hong Kong: Legco raps shortcomings in minibonds mo...
- Global financial crisis is getting out of control
- Treat all investors fairly
- Response to: DBS begins process to compensate cust...
- Reputation as financial services hub
- High risk, absymal return
- Impact of Lehman Brothers on different types of se...
- Demand for Compensation
- A fair compensation
- Distributor should be responsible
- Hong Kong: Minibond investors demand full refund
- New swap counterparty
- Avoid land banking
- Requests for media interviews
- Draft: Letter to request for Open Forum
- Inteview with journalist (4)
- DBS Bank, Hong Leong Finance and Maybank to give c...
- Marketed to Asians
- A good settlement?
- Did the financial institution carry out any risk a...
- Understanding the technical terms
- Collective letter to distributor
- Collective legal action - request for proposals
- MAS push responsibility to Financial Institution
- Where does the BUCK STOP?
- Lawyer: No obligation, no fee consultation
- SCMP: Investors hit by Lehman collapse get papers ...
- Volunteers to write statements of complaints
- Post in my blog without Google account
- Block comments
- Response to Mr. Lim Hng Kiang and MAS
- Independent financial advisers are not able to com...
- Investors should not be compensated
- Do you hear the people sing
- Exploitation of the consumer
- Views from an ex-private banker
- MAS reply to Parliamentary Questions on Credit Lin...
- Interview at Bloomberg TV
- Continue your good work for ordinary citizens
- HKMA refers Lehman-Brothers-related cases to the S...
- Positive or negative?
- Petition #3 (To Mrs Lim Hwee Hua)
- Fraudalent misrepresentation and clear mis-selling...
- Be careful of your relationship manager
- Tips from an ex-financial adviser
- Be truthful, not fearful
- Petition #3 - Fair and equal compensation to all b...
- Onus of proof
- Volunteers to write statement of claim
- Jubilee Notes
- Speaker's Corner - Credit linked securities
- Suing for defamatory remarks
- Call to MAS - investigate mass cheating
- New list of investors sorted by distributor
- Conscience, integrity and trust - a leader's hallm...
- General advice to investors of structured products...
- Interview with Sunday Times
- Ask for a full refund now
- Do not succumb to greed
- Ask MAS for advice to sort out this type of proble...
- Not an isolated case
- Lehman Structured notes on Wheat and Milk
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