Tan Kin Lian's Blog: Publish a book on Credit Linked Notes

Monday, November 17, 2008

Publish a book on Credit Linked Notes

I wish to collect materials to publish a book to outline the experience of investors of the credit linked notes (i.e. minibonds, pinnacle notes, high notes, jubilee notes, etc).

If you wish to share your personal experience, please write your story (800 to 1200 words) to explain the following:

1. How did you get to invest in these notes
2. What were your told about the product
3. How much did you invest
4. What was your past experience in investing your money?
5. What was your reaction when you learn about the true nature of these credit linked notes?
6. How does the financial loss impact you?
7. What lesson do you wish to share with the future generation?

Please use your real name, contact number, name of product and financial institution. The editor will use another name (to hide your identity) and get your agreement, before your story is published.

Send your story to kinlian1@gmail.com

18 comments:

Anonymous said...: Hi Mr. Tan ,

Please read the following article published in Business Times (dated 15 Nov), page 34, Title: “Feeling like Dr Frankenstein “ by James Presley

I quote few sentences from this article as follows:

“ ……
Index fund pioneer John C Bogle laments money managers have become salesmen rather than stewards and put their hunger to amass fees above their calling to serve clients.....

It is up to today’s market participants particularly, as well as academics and regulators, to work together to restore that balance and return financial conservatism to its rightful pre-eminence” he ( Bogle ) writes in Enough. (Bugle’s new book) ..."; November 15, 2008 11:07 AM
Anonymous said...: I somewhat disagreed with the idea of a book, though i support the idea of a publication

Books are often more expensive, less easily available and very prone to gathering dust once they are bought and skimmed through ONCE.

I believe a form of daily, or weekly newsletter, that could be in print (depending on sponsorship, donation or advertisements whatever), or simply via email or updated webpage, that could be subscribed to and sent to a frequently accessed address, ie the household letterbox or daily email address, that would have the greatest reach and highest opportunity of being read, looked into AND CIRCULATED.

Feedback, clarification or further exchange could be easily prompted through a link, from any part of the world, costs would be much more manageable and as things changed or evolved, news and updates would keep readers alert ALWAYS.; November 15, 2008 2:53 PM
Anonymous said...: The book could include cases where the public incurred heavy losses on:

- dual currency
- buying private property

etc.....; November 15, 2008 3:37 PM
Anonymous said...: Let wait till how this ends .....there will be many more casualties and perhaps maybe a few salvations like a new coutner party for Minibonds. Too early to wite a story maybe....; November 15, 2008 4:19 PM
Anonymous said...: Agree with anon 2:53 PM
It's better to keep the testimonials in a public depository like the internet for posterity. It will also never get out of print.; November 15, 2008 4:45 PM
Singapore Short Stories said...: Dear Mr Tan,

Your idea of a book on credit linked notes is applaudable as this gem of a book will contain real practical and must I say, painful stories and experiences of investors.

Mr Tan, hmm just my humble idea: I do not know whether it will be even better if there is a possibility that you could host a TV show to be broadcast in National TV? This could take the form of a live forum. The benefits of this forum is that the issues discussed could be the freshest to date, depending on how the current economic crisis pan out as according to a book.

In the forum, we could also have home viewers, calling to ask questions to the panelists. Books may cost some money to Singaporeans and watching TV maybe cheaper.

Just my humble ideas Mr Tan. I also support your idea of a book as the most important thing for investors and Singaporeans who want to invest is just one word, education and this could take the form of different media.; November 15, 2008 4:56 PM
siewkhim said...: Kin Lian,

It is going to be world best seller. I will be the first to buy with your autograph.; November 15, 2008 6:32 PM
Anonymous said...: it is too early for a book since there is no closure yet - we do not know if it is good or bad ending.; November 15, 2008 7:50 PM
adego said...: This book will be more 'valuable' if you are able to get these guys to write forewords.

1) Jackson Tai
2) current CEO of DBS (what's his name?)
3) Henry Paulson
4) The 3M (or either one of them)

Henry Paulson is the 'must have' guy to write.

His background and his rescue plans plays important role to the world's financial market.

This book will be the best seller with more meaning to it; November 15, 2008 9:02 PM
Anonymous said...: I support the idea of a publication.

However a book is not environmental friendly.

Why not do a free e-book is your main aim is too educate rather than to earn money?

Doing things online has many advantages:

1. Wider outreach ;
2. Less cost ;
3. More timely updates ;
4. Easy to archive/store ;
5. Save the trees.

Do consider a electronic publication.; November 15, 2008 9:13 PM
Anonymous said...: The book has to take a objective view of the issue. If it is going to contain articles from experiences of those investors of the minibond / structured products, it will be only a one sided view with the same story line.

There are many other people who were approached by the FIs and choose to walk away from buying. From young working adults, middle age executives to my 75 year old mother in law and myself included -they all walked away. Perhaps all can learn from them too.; November 15, 2008 9:18 PM
Anonymous said...: I beleive it will be happily ever after.
The odds are stacked too high against all other parties.; November 15, 2008 11:52 PM
Anonymous said...: The book should also include PAP town councils accounts of how they came to lose money through minibonds. A must-read for all new PAP members.; November 16, 2008 8:45 AM
Anonymous said...: Yes, a good idea.
The victims wld never forget this saga.
They also wld like their children, friends & relatives to know so that they wld not fall into similar traps again.
To save costs, may be it cld also be the form of CDs.; November 16, 2008 9:18 AM
Anonymous said...: Quote this down

"I beleive it will be happily ever after.
The odds are stacked too high against all other parties."; November 16, 2008 1:26 PM
Concerned said...: The book should included sales of unit trusts sold by banks. Banks charge a standard commission of 5% for unit trusts purchased. This 5% is very high. Assume you purchased S$20,000/= of unit trusts, the commission works out to be S$1,000/=. By just filling a few forms and transmitting the message to the funds manager, banks earns S$1,000/=. When you ask the RM why so high commission, the standard and no brainer reply is "We or I will monitor your investment for you". Monitor for me, my foot, you think I don't know how to monitor or is it very difficult and time consuming to monitor. Daily unit trust price list can be obtained from he the teletex, the internet, etc. Besides, unit trust price movement is very negligible and daily monitoring is unnecessary. What the RM will do after buying the product is they will let you have a weekly price list of all unit trusts sold by their FI for about 1year by e-mail.
Imagine what S$1,0000/= can do. You can travel to Hong Kong for 4 to 5 days. This includes the air ticket, the hotel accommdation, the meals, taxi, and some left over. The travel agency has to provide these things for
S$1,000/=.
By just by a few paper handling, the charges is 5% for purchase of unit trust is very excessive. For people who want to purchase unit trust, the cheapest route is through the internet, like funds supermarket, aviva, dollar X and some internet banking provide by banks. Don't go through the RM, after all, they are just as hopeless as the next person on the selection of the most profitable funds to buy.; November 17, 2008 11:25 AM
Anonymous said...: 2 town councils invested S$12m in Lehman-related structured products
By Dominique Loh, Channel NewsAsia | Posted: 17 November 2008 1646 hrs

http://www.channelnewsasia.com/stories/singaporelocalnews/view/390407/1/.html

Still have the cheek to laugh it off on national TV when interviewed. Not your money, of course no remorse.; November 17, 2008 5:31 PM
nhyone said...: The first question that came to my mind wasn't why the TCs invested in such structured products. It was why TCs have so much sinking funds and could they be put to better use?; November 17, 2008 6:31 PM