Friday, December 30, 2005
What I learnt about Hedge Funds
Chicago Tribune (25 Dec 05) reported that hedge funds once kept a low profile and were known mostly for short-selling and other strategies devised to make money whether stock, bond, commodity, currency or other markets rose or fell. Increasingly, hedge funds are becoming activists at companies they regard as undervalued, pushing for asset sales, management purges and stock buybacks. And the weight they throw around corporate America is only going to get heavier in the years to come.
Hedge Fund Research Inc. in Chicago said that in 1990, there were 610 hedge funds worldwide with assets totaling $39 billion. Earlier this year, assets in the 8,532 hedge funds in existence exceeded the $1 trillion mark for the first time.
Apparently hedge fund manager Edward Lampert, who engineered the merger of Sears, Roebuck and Co. and Kmart Holding Corp., made USD 1 billion last year in his day job. Lampert's success at his ESL Investments is expected to inspire other money managers to start their own hedge funds.
Hedge funds were once known mostly as investment vehicles for wealthy individuals, but an increasing number of public and private pension funds and endowments are sinking money into them. Because of that, corporate activism by hedge funds is expected to increase significantly in 2006. Their asset growth is expected to double by 2009 and sextuple, to $6 trillion, by 2015, according to Van Hedge Fund Advisors International.
Opinions differ on whether hedge funds' rising influence is good for the affected businesses in particular and the economy in general.
Hedge Fund Research Inc. in Chicago said that in 1990, there were 610 hedge funds worldwide with assets totaling $39 billion. Earlier this year, assets in the 8,532 hedge funds in existence exceeded the $1 trillion mark for the first time.
Apparently hedge fund manager Edward Lampert, who engineered the merger of Sears, Roebuck and Co. and Kmart Holding Corp., made USD 1 billion last year in his day job. Lampert's success at his ESL Investments is expected to inspire other money managers to start their own hedge funds.
Hedge funds were once known mostly as investment vehicles for wealthy individuals, but an increasing number of public and private pension funds and endowments are sinking money into them. Because of that, corporate activism by hedge funds is expected to increase significantly in 2006. Their asset growth is expected to double by 2009 and sextuple, to $6 trillion, by 2015, according to Van Hedge Fund Advisors International.
Opinions differ on whether hedge funds' rising influence is good for the affected businesses in particular and the economy in general.
Wednesday, December 28, 2005
Happy Birthday Gene Sy
I couldn't remember which day Gene's birthday fell on. I only recalled it was sometime in late DecemberIt was amazing how I got to know Gene. Some would say it was fate. A long time ago I chatted online with a Jerry from Taipei. And when I was on a business trip to Taipei, I naturally looked him up.
I never got to meet Jerry. I spoke to his apartment mate instead. I told myself well well, it was another of those many disappointments in life.
Perhaps Jerry was too embarrassed by the fact that he did not meet me as agreed. He asked Gene to drop me a line on his behalf. And that was how I got to know Gene.
Since then Gene had visited Singapore and I had returned to Taipei a number of times. We would each make the effort to meet up. My last trip to Taiwan was some 4 years ago and the last time I heard from Gene was about 2 years ago. Christmas is as good an occasion to catch up with one another. Perhaps I should use the opportunity to ask for a more recent photo of Gene. Wonder whether he would oblige.
Tuesday, December 27, 2005
When I least expected it ...
Received a note from one of my ex-staff. It read as follows and it is most encouraging:
"Thank you for your guidance and support during the last 5 years. I have not only found a supportive boss but a good friend. I am writing to let you know that our firendship will not fade as we leave on our separate ways. I know it is a difficult time for you and I can perfectly understand why. If you need a listening ear, please feel free to give me a call."
I know I will be alright. It is just a very rough patch for me. I need to maintain my head above the water. :)
"Thank you for your guidance and support during the last 5 years. I have not only found a supportive boss but a good friend. I am writing to let you know that our firendship will not fade as we leave on our separate ways. I know it is a difficult time for you and I can perfectly understand why. If you need a listening ear, please feel free to give me a call."
I know I will be alright. It is just a very rough patch for me. I need to maintain my head above the water. :)
Monday, December 26, 2005
Longest Wedding Lunch
James got married today at Raffles City. Started at 11 am with a simple ceremony. Lunch started at 1:15pm. I was seated at Table 25 with Dr Khor and others. The table was for 10 people but there were only 5 of us. So each of us had 2 portions to consume.
Not sure how much I ate though. When we were done, my watch showed it was 4pm! And that was not all the food for the day. I had to rush for dinner with my family at 6:30pm.
Not sure how much I ate though. When we were done, my watch showed it was 4pm! And that was not all the food for the day. I had to rush for dinner with my family at 6:30pm.
Sunday, December 25, 2005
Xiao Mao came over for dinner
Xiao Mao decided that he would celebrate Christmas with me. That was nice.He brought along some ceasar salad and fries. I made my infamous black pepper steaks. He almost flipped when I told him how much those steaks cost! And ofcourse, I served nothing but the best cut.
We spent the rest of the evening watching Motorcycle Diary, in Spanish. Didn't expect myeslf to like the show especially knowing how little Spanish I actually could understand. But I enjoyed it anyway. It must be the cat.
Saturday, December 24, 2005
Do you believe in Santa?
If you never believed in Santa before, you should now. Santa with a bunch of kindergarten children visited us on the 23rd floor. Eventhough we have been good throughout the years, we didn't get any present from Santa. Instead, the kids sang us a few carols. :)Friday, December 23, 2005
We Did It
Several people told me that we won not so much because of the montage. It was the little write-up I posted yesterday. I displayed a copy of it near the montage and many who read it were touched by what they read.
Indeed we, especially me, wanted this Christmas to be special. It is my last in MAS. I am going to miss my department. It is a young department and they have really given me the strength of their youth.
Derek was very sweet. He dropped me this note shortly after the results were announced.
"kudos to you! the moment you floated the idea, i was confident that it would take top spot as long as everyone cooperated. and we did!"
Thursday, December 22, 2005
Spik Singlish cannot meh?
1. What is this fuss about our English?
English has become the lingua franca of international commerce. It is our bridge to the world, and helps us to maximise our opportunities. Three quarters of Singaporeans are English literate. It is the common language among all races in Singapore. It has given Singaporeans an important competitive advantage over many other Asian countries. However, we do not speak good English.
2. Is that so?
A person doesn’t need to be an expert dancer to be able to tell a good dancer from a bad one. Similarly, one needn’t be a language expert to recognise good English when it is spoken. A good speaker will be concise, expressive, clear, entertaining, fluent, and persuasive. The trouble with us is that we seem to be speaking a strange type of English. For instance, we don’t seem to distinguish between ‘no’ and ‘not’. What do we mean when we say that a person is a ‘wo-wo king?’
A good example is TV programs. American sitcoms can easily be broadcast and understood in Singapore. But Singapore programs, like Phua Chu Kang or Army Daze, are not as easily understood by audience further away than Malaysia.
3. Is there such a thing as good English?
To be politically correct, I should insist that all English is good. To correct someone’s English is to say that his way of speaking is less “valid” and to “disadvantage” him by denting his confidence, and confining him to a social group below the ideal. And what is wrong with speaking a variant of English? Wouldn’t it be an act of establishment tyranny to impose pronunciation and grammar? So long as there is consistency, shouldn’t we be encouraged to express ourselves in our own way?
4. What does it mean to speak (and write) good English?
It means using grammatically correct English in conversations where rules for constructing sentences are adhered to. While accent should not be an issue, the pronunciation should be accurate. Essentially, speaking good English is about using the standard form of English so as to be universally understood.
It is not about using bombastic words or adopting an “artificial” English or American accent. We can speak in the normal Singapore tone, which is neutral and comprehensible. But speak in full sentences, with proper sentence structure, and cutting out all the ‘las’ and ‘lors’ in each sentence.
5. What is bad grammar then?
Bad grammar is, in my view, grammar which harms the ability of the speaker to express himself. A good speaker can express difficult concepts concisely and clearly. A bad speaker cannot.
For example, what are your views on the use of double negatives to express a negative? Consider the following:
· “I didn’t give him nothing?”
· “Untrue – I never said I gave him nothing.”
With few exceptions, non-standard grammar is commonly associated with bad grammar, and with people of low intelligence and questionable literacy or education.
6. Why me? Is my English so bad?
The reason is simple. When our English becomes too mutated, we become unintelligible to others. We then have a big problem. Because in the real world, whether we are serving the public or our bosses, making presentations, giving instructions to others, arguing a case in court, negotiating an agreement, teaching a class, or even singing a song or acting in a TV program, we are much better off doing so in proper, grammatically correct English. Then we can make our meaning clear, and others can understand us, including non-Singaporeans. If instead we speak in a dialect which only some of us can understand, then we are handicapping ourselves, and cutting ourselves off from the rest of the world.
It is very clearly the case that people who speak well have an advantage in life. I would add that people who speak badly are missing out on the fun that can be had with the English language, and the satisfaction which can be found in being eloquent.
More importantly we can make an impact on the speaking and learning of good English. In turn we can help others to be more confident in the use of proper English at home, at work and at play, so as to be better understood. And for those of us who are looking for a job, a good speaker is more likely to make a good impression.
7. Are there any acceptable non-English words?
There are plenty. For example, boomerang (Australian), pyjama (Urdu and Hindi), anorak[1] (Eskimo), dilemma (Greek), manuscript (Latin), manikin[2] (Dutch), novella[3] (Italian), résumé (French), golem[4] (Hebrew), schadenfreude[5] (German), schmaltz[6] (Yiddish), scoff[7] (Danish), Chinese chow[8] (Chinese), and ofcourse, durian, rambutan, orang utan.
Perhaps in the future we’ll see ‘shiok’ and ‘kiasu’ make it to the list.
8. What about SMS English?
‘That’ is spelled d-a-t. Have is spelled ‘hv’. ‘Are you’ become just the letter r and u. I think they are fine if we restrict them to SMS and email perhaps?
9. Are there any words you want to add to Tony’s list?
Yes, there are. Here are a few of them.
Alternate, alternative, alternatively
Borrow, lend, loan
Currently, now, presently
Fewer, less
Fuzz, fuss
Imply, infer
Its, It’s
Literal, literally
Lying, laying (lay, lie, lie …)
Normal, ordinary, regular, standard
10. Say what you mean and mean what you say.
[Try matching the 5 statements below (a to e) with their meanings (A to E).]
a. "Only I served him four shots yesterday”
b. "I served him only four shots yesterday”
c. "I served only him four shots yesterday”
d. "I served him four shots only yesterday”
e. "I served him four shots yesterday only”
A. On no other day did I serve him four shots.
B. It was very recently that I served him four shots.
C. I served no one else this number of shots.
D. I served him no more than 4 shots.
E. No one else served him this number of shots.
[1] a pullover hooded jacket long enough to cover the hips
[2] mannequin; a little man
[3] a work of fiction intermediate in length and complexity between a short story and a novel
[4] an artificial human being in Hebrew folklore endowed with life
[5] enjoyment obtained from the troubles of others
[6] sentimental or florid music or art
[7] an expression of scorn, derision, or contempt
[8] food
English has become the lingua franca of international commerce. It is our bridge to the world, and helps us to maximise our opportunities. Three quarters of Singaporeans are English literate. It is the common language among all races in Singapore. It has given Singaporeans an important competitive advantage over many other Asian countries. However, we do not speak good English.
2. Is that so?
A person doesn’t need to be an expert dancer to be able to tell a good dancer from a bad one. Similarly, one needn’t be a language expert to recognise good English when it is spoken. A good speaker will be concise, expressive, clear, entertaining, fluent, and persuasive. The trouble with us is that we seem to be speaking a strange type of English. For instance, we don’t seem to distinguish between ‘no’ and ‘not’. What do we mean when we say that a person is a ‘wo-wo king?’
A good example is TV programs. American sitcoms can easily be broadcast and understood in Singapore. But Singapore programs, like Phua Chu Kang or Army Daze, are not as easily understood by audience further away than Malaysia.
3. Is there such a thing as good English?
To be politically correct, I should insist that all English is good. To correct someone’s English is to say that his way of speaking is less “valid” and to “disadvantage” him by denting his confidence, and confining him to a social group below the ideal. And what is wrong with speaking a variant of English? Wouldn’t it be an act of establishment tyranny to impose pronunciation and grammar? So long as there is consistency, shouldn’t we be encouraged to express ourselves in our own way?
4. What does it mean to speak (and write) good English?
It means using grammatically correct English in conversations where rules for constructing sentences are adhered to. While accent should not be an issue, the pronunciation should be accurate. Essentially, speaking good English is about using the standard form of English so as to be universally understood.
It is not about using bombastic words or adopting an “artificial” English or American accent. We can speak in the normal Singapore tone, which is neutral and comprehensible. But speak in full sentences, with proper sentence structure, and cutting out all the ‘las’ and ‘lors’ in each sentence.
5. What is bad grammar then?
Bad grammar is, in my view, grammar which harms the ability of the speaker to express himself. A good speaker can express difficult concepts concisely and clearly. A bad speaker cannot.
For example, what are your views on the use of double negatives to express a negative? Consider the following:
· “I didn’t give him nothing?”
· “Untrue – I never said I gave him nothing.”
With few exceptions, non-standard grammar is commonly associated with bad grammar, and with people of low intelligence and questionable literacy or education.
6. Why me? Is my English so bad?
The reason is simple. When our English becomes too mutated, we become unintelligible to others. We then have a big problem. Because in the real world, whether we are serving the public or our bosses, making presentations, giving instructions to others, arguing a case in court, negotiating an agreement, teaching a class, or even singing a song or acting in a TV program, we are much better off doing so in proper, grammatically correct English. Then we can make our meaning clear, and others can understand us, including non-Singaporeans. If instead we speak in a dialect which only some of us can understand, then we are handicapping ourselves, and cutting ourselves off from the rest of the world.
It is very clearly the case that people who speak well have an advantage in life. I would add that people who speak badly are missing out on the fun that can be had with the English language, and the satisfaction which can be found in being eloquent.
More importantly we can make an impact on the speaking and learning of good English. In turn we can help others to be more confident in the use of proper English at home, at work and at play, so as to be better understood. And for those of us who are looking for a job, a good speaker is more likely to make a good impression.
7. Are there any acceptable non-English words?
There are plenty. For example, boomerang (Australian), pyjama (Urdu and Hindi), anorak[1] (Eskimo), dilemma (Greek), manuscript (Latin), manikin[2] (Dutch), novella[3] (Italian), résumé (French), golem[4] (Hebrew), schadenfreude[5] (German), schmaltz[6] (Yiddish), scoff[7] (Danish), Chinese chow[8] (Chinese), and ofcourse, durian, rambutan, orang utan.
Perhaps in the future we’ll see ‘shiok’ and ‘kiasu’ make it to the list.
8. What about SMS English?
‘That’ is spelled d-a-t. Have is spelled ‘hv’. ‘Are you’ become just the letter r and u. I think they are fine if we restrict them to SMS and email perhaps?
9. Are there any words you want to add to Tony’s list?
Yes, there are. Here are a few of them.
Alternate, alternative, alternatively
Borrow, lend, loan
Currently, now, presently
Fewer, less
Fuzz, fuss
Imply, infer
Its, It’s
Literal, literally
Lying, laying (lay, lie, lie …)
Normal, ordinary, regular, standard
10. Say what you mean and mean what you say.
[Try matching the 5 statements below (a to e) with their meanings (A to E).]
a. "Only I served him four shots yesterday”
b. "I served him only four shots yesterday”
c. "I served only him four shots yesterday”
d. "I served him four shots only yesterday”
e. "I served him four shots yesterday only”
A. On no other day did I serve him four shots.
B. It was very recently that I served him four shots.
C. I served no one else this number of shots.
D. I served him no more than 4 shots.
E. No one else served him this number of shots.
[1] a pullover hooded jacket long enough to cover the hips
[2] mannequin; a little man
[3] a work of fiction intermediate in length and complexity between a short story and a novel
[4] an artificial human being in Hebrew folklore endowed with life
[5] enjoyment obtained from the troubles of others
[6] sentimental or florid music or art
[7] an expression of scorn, derision, or contempt
[8] food
Wednesday, December 21, 2005
Christmas on the 23rd floor
Woke up 3:30 in the morning to write the following to accompany the art piece we put up for display on the 23rd floor.There are a few among us who believe that Christmas is more than an "intelligent design." It is about love personified, giving and reaching out.
On the other hand, there are many of us who believe that we should use the talents we possess, for the woods would be silent, if no birds sang except the best.
As a team we have put together a mural comprising 196 pieces, all of which individually painted using a variety of medium. We relied on one common talent we cherished as a child - our ability to draw, to color. We did not know how the picture would eventually turn out. It was a step in faith when we first started the project. We just believed.
We have no yule log, tinsel nor miseltoes. The bears on our tree are those we treasure so dearly, but are willing to risk losing, for the glory of Christmas.
Poinsettia would be nice, but cost too much. So we increase its yield by office grown African voilet. And the purpose of all the effort is simply to wish each and everyone who drops in a meaningful, memorable, and a very merry Christmas.
In SRD we still believe that the truest measurement of our growth and accomplishment is in remembering where we came from, where we have been, and where we are going. Each of us though remains a unique and wonderful individual with a specific reason to be in MAS. Each of us is called by our name as tagged on the gifts. Yet in diversity there is unity.
Tuesday, December 20, 2005
Golden Pavilion
Every year without fail Makio would send me a Christmas card. This year he sent me 2. I espeically like the one with the picture of Golden Pavilion in Kyoto. It is so pretty. Wish I can rent the place for a week. I would love to take a break there.Music Clinic
Wondering when is the best time for me to quit my lessons. I have been at it for almost 6 months. I see no signs of improvement. My classmates are all so young, in fact most of them are not even half my age! And ofcourse, they all could sing, perform twice as well as I could.Looking at the original class, I am actually one of the 2 surving members. Jesen the navy officer is the most diligent. Never missed a class. Wonder what keeps him coming to class.
Saturday, December 10, 2005
Herbalife
Today I did something I never thought I would do. I signed up as an independent distributor for Herbalife products.
Over the months I have put back quite a bit of weight. In fact I am now 15kg overweight. So I set myself a target of losing 5 kg per month for the coming 3 months. I must at least reduce 5kg by 1 Jan 06. Hopefully by my next medical check up in Feb 06, my doctor do not have to remind me that I am obese!
Over the months I have put back quite a bit of weight. In fact I am now 15kg overweight. So I set myself a target of losing 5 kg per month for the coming 3 months. I must at least reduce 5kg by 1 Jan 06. Hopefully by my next medical check up in Feb 06, my doctor do not have to remind me that I am obese!
Thursday, December 08, 2005
Crazy Elephant
Decided to check out Yoong Pin's favorite joint tonight. Crazy Elephant is located at Clarke Quay and it a place for the true blue Blues fan. The crowd that congregated that night was mostly caucasians and I felt a little out of place. The energy displayed by the band though was captivating. Made me feel like joining them for a jam session but I am no musician.Decided to leave after just one drink. And what I was doing while having the drink? Watching the continuos display of silly jokes like the one displayed in this posting.
Monday, December 05, 2005
Crazy Horse Paris Come to Town
So it went down as the first in Asia. L'Art Du Nu from Paris. The lastest addition among the many in Singapore's ambition to be the entertainment capital of Asia. Government is putting in S$60m in the coming few years.
Tickets are going at S$85 to $250 a piece. Will I ever go? Hmmn ... No plan to spend that kind of money yet.
Tickets are going at S$85 to $250 a piece. Will I ever go? Hmmn ... No plan to spend that kind of money yet.
Thursday, December 01, 2005
I have made a difference
Often I wondered wether my effort at work made any difference.
During the last couple months I received a number of very positive comments. They are unsolicited comments and they gave me great encouragements.
Just when I thought I was a theoretician, I fantasized too much, I needed to be more down to earth, Kenneath Seow of Deutche Bank wrote, "... I've enjoyed working with you and your team in MAS - in particular your very practical ways of looking at things."
When I reluctantly agreed to meet with the senior management of a mobile payment company because I doubted I could any value to them, Serene Ho of Workforce Development Authority who referred the company to see me wrote after the meeting, "Many thanks for the help. Billy thinks that you are really exceptional and so enlightening in your thoughts and views. Hope to catch up with you and stay in touch ok. ..."
During the last couple months I received a number of very positive comments. They are unsolicited comments and they gave me great encouragements.
Just when I thought I was a theoretician, I fantasized too much, I needed to be more down to earth, Kenneath Seow of Deutche Bank wrote, "... I've enjoyed working with you and your team in MAS - in particular your very practical ways of looking at things."
When I reluctantly agreed to meet with the senior management of a mobile payment company because I doubted I could any value to them, Serene Ho of Workforce Development Authority who referred the company to see me wrote after the meeting, "Many thanks for the help. Billy thinks that you are really exceptional and so enlightening in your thoughts and views. Hope to catch up with you and stay in touch ok. ..."
