change management fee based on basic monthly pay plus the performance quarterly pay in the AGM. This should be the proposal in the next AGM . why pay RM to management for poor results. Fair enough, if poor result, management get basic monthly low pay lah . Do u all agree?
The moral of the story is YOU MUST KNOW what you are buying, not only icap but all types of investments e.g shares, unit trusts, properties, gold, bonds, FDs. insurance, private universities and so on.
All this waiting or stupidity is not your fault. Regardless of good or bad economy conditions ,A good fund manager' job is a continuous process he can still excel in his work in any conditions.
If you are a boss of a company , you surely will not agree with your sales manager telling you that better don't sell company's products now, market is going to be bad, lets' stop selling or else, you may find collection problems later on. If you are boss, will you fire him or wait for your time to close shop? Bear in mind their salary you continue paying.....
Similarly, for Icap, your waiting is not due to your fault, did TTB expressively telling you all that he is not going to invest in previous few years in icap Annual report?
If he didn't do anything , he must be prepared to be sacked or overthrown.
Don't get frustrated, be prepare when City of London approaching for EGM( if any), just show your colour to him.
<<If you are a boss of a company , you surely will not agree with your sales manager telling you that better don't sell company's products now, market is going to be bad, lets' stop selling or else, you may find collection problems later on. If you are boss, will you fire him or wait for your time to close shop? Bear in mind their salary you continue paying....>>
I would like to add on another example: Why you buy Unit Fund? Because you are confident you can make money in the bull market but not sure in the bear market. Therefore you pay Fund manager to manage your hard earn money so that you still can make profit and not loss your money in bear market and through inflation (Inflation is the monster always used by Unit Trust sales personnel to scare clients). As such, will you buy a Unit trust that they wont guarantee return because they believe bear is coming but don't know when? And the fund past 5 years records is lower than FD? Food for thinking...
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Jason Lim
180 posts
Posted by Jason Lim > 2016-09-26 19:00 | Report Abuse
Agreed.