Investing Carefully

Finance correspondent, Lorna Tan of The Straits Times has this parting message, "No One Has Your Interests At Heart Except Yourself" in her write-up of September 26 on the hundreds of investors who have bought structured products linked to failed US investment bank Lehman Brothers; and are now crying foul.

Many claimed that the products were sold as "safe" and some say they were given the wrong impression that their principal sums were guaranteed.

There is certainly some truth in what Lorna has to advise readers, although I prefer to qualify her parting message with some kind adjunct to placate those financial consultants who have been and/or still conducting themselves professionally and ethically.

But, many of these professionals could not stay long in their financial consulting careers as they have ever increasing targets to accomplish.

Faced with a widening gap between the given target and actual performance, it is never easy for any consultant to lay bare all the facts and figures at hand for the client to decide on taking up the investment.

The more the client comes to know about the caveat emptor that he/she has to be exposed to in taking up the investment, the higher the tendency for the client to hold back the decision.

The consultant is primarily employed by the financial institution to sell its products. The consultant is not there to give out free and independent advice to potential client who walks into the premises, even though the institution may profess to provide such a free service.

Too much advice without closing sufficient sales would definitely not reflect well on the consultant. Very soon, the superior would be breathing down the consultant's neck all the time.

For new launches, the consultants are often not adequately trained and enlightened to advise the clients adequately and confidently.

In attempting to close the sales opportunities (especially, if the clients have big sums to invest somewhere), some consultants might find it hard not to act unjustly and unethically.

Even if a client has all the information and clarifications to make an informed decision, it is not uncommon for the client to seek the consultant's personal advice on the risks involved.

Well, it is unthinkable for an average consultant over here to be able to advise that a 158-year-old prestigious establishment could crumble overnight.

The reliability of the 'AAA' rating which used to be a benchmark for any aspiring financial institution has also taken on a new understanding in the current financial tsunami.  For the consultant to advise that it is 'safe' to proceed with the investment is not surprising after all.

Perhaps, the adage that one should not place all his eggs in one basket is still relevant. Likewise, do not act in haste. If there is doubt, it is always advisable to bounce all that you have learned from one consultant or institution against another independent source of advice until you are adequately confident of what you are getting into.

Note: This posting was published on ST Online Forum on 30 September 2008, titled "Investing Carefully: Perhaps, the adage that one should not put all one's eggs in one basket is still relevant".

'Confucius Help Me Score As'

This was one of the many photographs that I uploaded in my earlier posting, "Old House, Old Tales @ Lorong Tai Seng".

I am doing a separate posting for Confucius here as it will be his birthday on Friday, 26 September 2008 (ie 27th day of the 8th lunar month).

Many students and parents have flocked to temples over the last weekend to make offerings to the Chinese thinker-philosopher.




It was done not so much for paying respect to the 'deity', but rather more for want of scoring good grades in the current examination period in schools.

He is believed to be the more relevant 'deity' for bestowing mental acuity on those who prayed to him for blessings. Luck in examination performance ? I am not sure ! If it makes you feel GOOD psychologically............ Why Not ? After all, having the right frame of mind is already half the battle won in scoring well in any test of strength(s).

Confucius, born more than 25 centuries ago in China, is credited with promoting values such as respect for elders and reciprocity.

Some temples have his statue placed among the pantheon of deities, but Confucianism is more often thought of as a way of life than as a religion.

Taoists respect Confucius as a great sage and a contemporary of the Taoist guru, Lao Zi. His teachings have since been studied worldwide and translated into many languages.

I wonder how many parents prayed to him for guidance and blessings for their children to be imbued with the desired values and ethic !

Our Lady's Procession 2008

"Jesus Christ Our Hope" that's the theme for this year's celebration at Church of St. Alphonsus (Novena Church) of Singapore.

Mid-Autumn Festival 中秋节

This year's festival falls on Sunday, 14 September 2008. The decorations and festivities are in full swing since Sunday, 31 August 2008.

This year's theme, Mid-Autumn Festival By The River, is best appreciated if you were to take a trip down the Singapore river during the weekends when chinese dances, calligraphy, puppet-making demonstrations, tai-chi performances, etc are in full swing.

At the constituency level, ministers, members of parliaments and other community leaders participated in various activities such as lantern-making competition, mooncakes sampling, chinese tea-drinking session, etc.

Ever since US astronaut, Neil Armstrong walked on the moon in 1968, some believers have stopped their practice of making offerings (mooncakes notwithstanding) and praying to the moon.

They are disillusioned with the mythology of observing this practice. The different legends that have been passed on from generation to generation are not congruent with what the historical moon-walking feat had uncovered on television.

Despite this, mooncakes (the so-called cantonese varieties, in particular) continue to be offered as gifts (more creative fillings such as strawberry, green tea flavour, etc have crept into mooncake-making) to business associates, clients, close relatives, and other loved ones during the festival. 

The below teochew and hokkien versions of mooncakes have more flaky pastries, and are less impressive.

Paper lanterns which used to be popular with children in the 1960s/1970s are not in the vogue nowadays in Singapore.   

Teochew-style pastries from China see dwindling sales over the years.

They are sought after by the older generations of customers, and those who have caught up with the taste.

Traditional piglet-shaped pastry packed in attractive cages to entice children into buying them as collection items.

Incidentally, the cages are replicas of rattan cages that were used to transport pigs in the old days of Singapore.

Pomelos used to be a mandatory item for the altar, and they continued to be sold in abundance at this time of the year as many consumers have grown accustomed to the fruit over the years.


Creativity has crept into the making of the pastries and ingredients of the traditional mooncakes over the years.   The traditional pastries and recipes are still popular, but more appealing and attractive recipes using ingredients such as durian ( a popular fruit with Singaporeans ), red dates, strawberry, yam, green tea, and chocolates.