ORIGINALLY POSTED IN DECEMBER 2009
My friend has a Mio TV. He found it to be rather unsatisfactory. It took a long time to get started. He also has a Starhub cable TV, which was quite easy to use.
He said that he needed two set top boxes (for Mio and Starhub) and two separate TVs (as it s not possible for his TV to receive signals from both set top boxes.
I wonder what is the experience of other Mio TV users? Is it convenient to use? Is t fast to get started?
Saturday, August 28, 2010
Gambling on credit [3]
Hi Mr Tan,
With regards giving credit, what are your views for the following:
i) Margin trading (shares and forex) where you are actually using leverage which is the same as speculating with money that is on credit
ii) Speculating in property (Down payment of 20%, but you are betting on the increase of the other 80% of the property price, which is the credit given to you by the bank) for those yet to TOP new property.
iii) Credit cards - Borrowing twice your salary or getting a loan using cashline / unsecured credit. We can do that and gamble the amount away as well. Banks give credit for people in need of funds or to speculate in stock market. The only reason banks do their credit assessment and proper due dilligence is that they are worried the customers cannot pay and they will incur credit lossses after the customers lose money in stock market. Finally, it appears that the $26 million person probably can afford to pay, otherwise the casino will not give credit anyway.
REPLY
1) Speculating on margin is not the same as gambling on credit. The speculator has to put up the margin and if the price moves to the extent of the margin, the position is closed by the stockbroker - due to lack of margin.
ii) A person should buy a property for own occupation and to within 5 years of the income, so that the repayment of the mortgage loan is not a burden. It is bad to borrow 80% to speculate in a property, hoping for the price to move up and to sell it at a profit. This is dangerous speculation and should be avoided.
iii) Borrowing on credit card should also be avoided, as the interest burden is too high, i.e. 2% a month or 24% per annum.
If the gambler has to bring cash to gamble, he would not have brough t $26 million to gamble. The danger is to gamble on credit, as it could be unlimited. This can happen to any family. Imagine a member of your family come home and said that he or she owed a large sum of money to the casino - representing all the savings of your family!
With regards giving credit, what are your views for the following:
i) Margin trading (shares and forex) where you are actually using leverage which is the same as speculating with money that is on credit
ii) Speculating in property (Down payment of 20%, but you are betting on the increase of the other 80% of the property price, which is the credit given to you by the bank) for those yet to TOP new property.
iii) Credit cards - Borrowing twice your salary or getting a loan using cashline / unsecured credit. We can do that and gamble the amount away as well. Banks give credit for people in need of funds or to speculate in stock market. The only reason banks do their credit assessment and proper due dilligence is that they are worried the customers cannot pay and they will incur credit lossses after the customers lose money in stock market. Finally, it appears that the $26 million person probably can afford to pay, otherwise the casino will not give credit anyway.
REPLY
1) Speculating on margin is not the same as gambling on credit. The speculator has to put up the margin and if the price moves to the extent of the margin, the position is closed by the stockbroker - due to lack of margin.
ii) A person should buy a property for own occupation and to within 5 years of the income, so that the repayment of the mortgage loan is not a burden. It is bad to borrow 80% to speculate in a property, hoping for the price to move up and to sell it at a profit. This is dangerous speculation and should be avoided.
iii) Borrowing on credit card should also be avoided, as the interest burden is too high, i.e. 2% a month or 24% per annum.
If the gambler has to bring cash to gamble, he would not have brough t $26 million to gamble. The danger is to gamble on credit, as it could be unlimited. This can happen to any family. Imagine a member of your family come home and said that he or she owed a large sum of money to the casino - representing all the savings of your family!
Survey: Gambling on credit
Here is the letter printed in the Straits Times.
The results of the survey can be found here.
www.tankinlian.com/information.aspx (search for "Gambling on credit")
www.tankinlian.com/information.aspx (search for "Gambling on credit")
Govern a society
Read this letter.
My view
It is the duty of the Government to govern. They cannot let the problem of society be "left to the market" or to "personal responsibility". This is why laws are passed to prevent vandalism and crime. If marketing flyers are a nuisance, it should be stopped. If gambling on credit is a serious problem, it should also be stopped. It is easy for people to fall into a trap and lose a fortune that will bankrupt their family - all within a day or just a few hours.
For those people who say that people should be personally responsible and that the Government has no role here, just wait for the day when a member of your family comes home, and cries that he or she owes $100,000 or more to the casino. You will then know the real danger of gambling on credit and how easy it is for anyone to fall into the trap.
Gambling on credit
My view
It is the duty of the Government to govern. They cannot let the problem of society be "left to the market" or to "personal responsibility". This is why laws are passed to prevent vandalism and crime. If marketing flyers are a nuisance, it should be stopped. If gambling on credit is a serious problem, it should also be stopped. It is easy for people to fall into a trap and lose a fortune that will bankrupt their family - all within a day or just a few hours.
For those people who say that people should be personally responsible and that the Government has no role here, just wait for the day when a member of your family comes home, and cries that he or she owes $100,000 or more to the casino. You will then know the real danger of gambling on credit and how easy it is for anyone to fall into the trap.
Gambling on credit
Invest in Exchange Traded Fund
Many consumers have asked me to provide information on the ETFs that are available for a long term investor.
I have written a FAQ to explain the exchange traded funds available in SGX that are invested in Singapore equities. Go to www.tankinlian.com (search for "Exchange Traded Fund" or view "Latest").
I have written a FAQ to explain the exchange traded funds available in SGX that are invested in Singapore equities. Go to www.tankinlian.com (search for "Exchange Traded Fund" or view "Latest").
Friday, August 27, 2010
Short term investment
Hi Mr Tan,
What is the best (low risk) investment instrument to use if I have 100k and I need the money in 6 months time? I do not want to leave it in my savings account as the interest rate is very low. I was introduce into dual currency investment by my bank. What's your take on it?
REPLY
For short term invstment, you have to accept the low interest rate offered by the banks. You can place it on fixed deposit to earn more than saving account. In my case, my short term cash is kept in an auto-save account which earns a low interest rate.
You should avoid all types of dual currency investments. Read the FAQ in my website, www.tankinlian.com. Look for "Ask Mr. Tan" and search for "Dual Currency".
http://tankinlian.com/Admin/File.aspx?id=66
What is the best (low risk) investment instrument to use if I have 100k and I need the money in 6 months time? I do not want to leave it in my savings account as the interest rate is very low. I was introduce into dual currency investment by my bank. What's your take on it?
REPLY
For short term invstment, you have to accept the low interest rate offered by the banks. You can place it on fixed deposit to earn more than saving account. In my case, my short term cash is kept in an auto-save account which earns a low interest rate.
You should avoid all types of dual currency investments. Read the FAQ in my website, www.tankinlian.com. Look for "Ask Mr. Tan" and search for "Dual Currency".
http://tankinlian.com/Admin/File.aspx?id=66
Group Representation Constituencies
Read this report about the system and history of GRCs in Singapore.
Easy Ads - prototype
The prototype of the Easy Ads application is now being developed. You can view the partial development here. It is intended to allow the public to post their advertisements and for customers to search for the advertisements. I hope that it can replace the flyers that are being distributed now through mail boxes - most of which are being thrown away without a second look! The advertisements will be free until end 2010.
Immigration
Read this BBC report.
My view
It is better to have a lower pace of economic growth, and rely less on foreign workers.
My view
It is better to have a lower pace of economic growth, and rely less on foreign workers.
Enjoy 40% discount on books
Enjoy 40% discount on a bundle of books - FOR A LIMITED PERIOD ONLY
http://projects.easyapps.sg/iShop/public/common/File.aspx?file=57
Order here: www.easysearch.sg/ishop
http://projects.easyapps.sg/iShop/public/common/File.aspx?file=57
Order here: www.easysearch.sg/ishop
High dividend yields
I have posted a FAQ showing blue chip shares with high dividend yields. This shares have low risk for the long term investor and provides an attractive yield.
Go to www.tankinlian.com and search for "high dividend yield" or see the Latest tab.
Go to www.tankinlian.com and search for "high dividend yield" or see the Latest tab.
Thursday, August 26, 2010
Minimum wage in Malaysia
Read this article.
My view
I am in favor of a minimum wage in Singapore. We should pay more for our services and labor. When other people can earn a decent wage, they will have more money to spend, which is good for other types of businesses.
If we pay more for our services, we will have less money to spend on houses and cars. The prices of these items will not escalate out of proportion. We will have a more balanced economy. People will have more money to spend on art, culture and sports, instead of expecting freebies to be given by the government.
We will not have the uncertain situation that was experienced with the ticket sales for the Youth Olympic Games, F1 and many other events.
My view
I am in favor of a minimum wage in Singapore. We should pay more for our services and labor. When other people can earn a decent wage, they will have more money to spend, which is good for other types of businesses.
If we pay more for our services, we will have less money to spend on houses and cars. The prices of these items will not escalate out of proportion. We will have a more balanced economy. People will have more money to spend on art, culture and sports, instead of expecting freebies to be given by the government.
We will not have the uncertain situation that was experienced with the ticket sales for the Youth Olympic Games, F1 and many other events.
5 book bundle
I have received the first order for this 5 book bundle - which offers an attractive 40% discount. If you already have one or two of the books, you can pass it as a gift to a friend, or sell it away. As you earn an attractive discount, you will still be paying less for the other books. Order here.
Invest in Government Bonds
I have written a FAQ on how to invest in Government bonds, and the advantages and pitfalls, and how a future change in interest rate will affect the price of the bonds. Go to www.tankinlian.com and click on Latest.
Wednesday, August 25, 2010
Bright Tangram
This app will be released soon in Apple app store. It is a more challenging version of tangram.
FIDREC Adjudication process
I carried out a survey on the FIDREC adjudication process a few months ago. Less than 5 people responded. I was not able to post any results.
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