Someone told me that this is a good strategy. The relationship manager is likely to confess and tell the truth. In that case, the wrong-doings of the financial institutin will be brought to light. They might be more willing to give a fair settlement.
Sunday, January 18, 2009
Sue the relationship manager
A noteholder wanted to sue the relationship manager for giving bad advice. Other people said that there is no point to sue the relationship manager, as he will not be able to compensate the noteholder for the financial loss.
Google documents
I am now using Google documents to publish my survey findings. I wish to thank the reader that give me this wonderful tip.
Tips - what to avoid
1. Never invest with borrowed money
2. Never invest from a marketing company (e.g. time share, land banking, etc)
3. Never invest to get a free gift (it comes from your own money)
4, Nver invest in something that is too good to be true (it is!)
Read this article about Storm Financial.
Current market values of the credit linked notes
I wish to ask visitors to share what you know to be the current market values of the various series of credit linked notes (i.e. minibonds, high notes, pinnacle notes, jubilee notes, etc).
Please post the current values here, with the dates. Also, indicate the source of the information, e.g. website.
The note-holders will be receiving the offer of compensation from the financial institution soon. They will need to compare the offer with the market values, to make sure that the offer is at least higher.
If I have sufficient information, I shall organise them in an easy to read format. Please share your information for the benefit of all.
Contact persons (distributor, products)
Click here for the email address of the contact persons based on the distributor and type of credit linked notes:
My view: decision on 5,000 complaints
Here are my views about the decisions made by the banks on the complaints of mis-selling of the credit linked notes.
1. About 1,280 (25%) noteholders will receive full compensation. This is good news and is higher than I had expected. I like to know the amount of compensation to see if the full compensation is given mainly to the small investors or is well distributed among the small and large investors.
2. About 1,670 noteholders (33%) will be offered partial compensation. To help them decide on whether to accept the compensation, they should be informed the current value of their notes, so that they can make an informed decision.
3. Another 6,000 noteholders have not lodged their complaints yet. They should step forward to lodge their complaint now, if they have been mis-sold.
Rating of political leaders
How do Singaporeans rate our political leaders?
Here are the survey results.
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