ahbah why soo stu.pe.ed one. 20 companies limit down without substance due to purely speculative lorr. SC was the regulator and shd take stern action on this so called Bursa Fiasco lorr. FYI, SC was direct under MoF. Hoky doky...
The court had previously granted the bank's application for an ex parte (for the interest of one party only) asset freeze order against 28 of the defendants, including Silver Ridge Holdings Bhd (SRHB), Silver Ridge Sdn Bhd (SRSB) and its director Wong Chee Keong. Messrs Cheang & Ariff, who represented SRSB and SRHB, confirmed the proceedings when contacted.
"The High Court has dismissed the bank's Mareva application on inter partes (both parties) basis and the ex parte injunction order against SRHB and SRSB is no longer in force and enforceable," said Muhammad Hiqmar Danial, a senior associate with the law firm.
PUMPING NINJA STOCKS & THE GREATER FOOL ARE THE SAME!!
We are all at a wonderful ball where champagne sparkles in every glass and soft laughter falls upon the summer air. We know, by the rules, that at some moment, terrorists will burst in through the terrace doors, killing many and scattering the survivors. Those who leave early will be saved, but the ball is so splendid that no one wants to leave while there is still time. Everyone wants to enjoy one more dance and sip one more glass of champagne. So everyone kept asking: "What time is it? What time is it?" We look around and find that all the clocks have no hands.
This may be a surrealist's way of describing the stock market but Goodman's parable has a great deal of truth in it. Of course, we know that in every speculative boom of the past, the 'terrorists' did come when most of the guests were still enjoying themselves at the ball. As 'Adam Smith' implies, nobody knows when a speculative boom will end but end it must for that is the rule. At every speculative boom, not many of the small speculators escaped with their gains made on the way up. Most of the smaller speculators known to me eventually lost all their gains and much more than what has been gained.
Some even lost a large part of their original capital. Thus on the next occassion when you happen to find yourselves at this type of a ball, try to leave early. The problem is that once one is caught up in the fun and games of the party, one is apt to lose touch with reality. Chances are that believers of the Greater Fool Theory will hang on to the bitter end, only to be slaughtered. It is better to miss a few dances or a few glasses of champagne than lose one's life.
In concluding this section, an anecdote about Bernarde Baruch, generally acknowledged to be the greatest stock traders of the 1920s is related. He was once asked how it was that he remained so rich while many of his contemporaries had declared bankrupt. This was his splendid answer: 'I always sold too early.'
According to Dr. Neoh, "A dividend yield of 12 per cent seems to be the floor below which most stocks will not drop".
In the Deepest Depth of the Lehman Brothers' Crisis after Bear Sterns & Lehman Brothers both gone bankrupt Warren Buffet bought into the safety of Goldman Sachs' Preference shares with guaranteed 10% yield.
Now take heed to Dr. Neoh's warning, "In sharp contrast, shares which pay low or no dividend at all do not seem to have any bottom and price decline can hit 90 per cent or more".
The characteristic of past bear markets like the Tulip Mania, The South Sea Bubble, The Great Depression of 1930s in USA, the Stock Market Rout of Asian Finacial Crisis in 1997/8 and The Lehman Brothers' Debacle of 2007/8 have witnessed many stocks & index crashing up to 90% or more.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3089 views | 2 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
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