Good thing, haha

Thx

Soon, you can buy Nio stock on SGX.

https://finance.mingpao.com/fin/instantf/20...%b8%8a%e5%b8%82

https://finance.yahoo.com/news/nio-inc-anno...-000000930.html

BT 060522: https://drive.google.com/file/d/1vRT0Swi5ph...iew?usp=sharing

Not that related to any major SGX counters, but highlights corporate governance risk:



Dangers of private-debt and their risk:



For those who are eligible, the next issue of Singapore Savings Bonds (SSB) is available on 1st of June 2022:

BT 070522: https://drive.google.com/file/d/1Jk5fukm7iG...iew?usp=sharing

How money from the rich in Taiwan flows from HK to Singapore? Interesting to learn some of SG's tax vehicles for the HNWIs fleeing there too, such as a "variable capital company" or VCC, in short.

From CommonWealth magazine, 天下杂志 (Issue date: 20th April-3rd May)



Now I know how businessmen avoid paying tax. Register a shell company in Cayman, but open a HK bank account. All profits/revenues etc are seen to come from Cayman, thus no taxes will be paid from HK's "perspective".

This post has been edited by TOS: May 7 2022, 07:17 PM

BT 07-080522 (weekend): https://drive.google.com/file/d/1zGpUaxN6XQ...iew?usp=sharing

"Zero-commission trades don't mean free trades in many cases"



"Office lunches may not prove much costlier as low demands caps CBD food prices"



This post has been edited by TOS: May 8 2022, 01:30 PM

It depend on each broker pricing model. Tiger moomoo has this commission followed by platform fee plus the mandatory US related fees. Zero commission fee does not mean platform fee is zero so still need to pay that part

Based on tiger shared in other forum their style was claim approach e.g you given a commission rebate card and then you will use this to apply on the trade you place. Experience shared is not all US stock can apply the rebate so mixed experience but you still need pay platform fee.

Moomoo in contrast is straight forward. Zero commission and zero platform for 1 year after which 0.99 applies for the platform fee. So assume after 1 year it is still 0.99 but moomoo is live data by default no need pay extra to get this

Syfe which I am using is all-in fee no so called commission and platform fee. First 5 free subsequent 0.99. After 3 months 2 free subsequent 1.49. Live data and fractional shares by default

IBKR Spore I just have acct no live data, convert each time pay 2. So while IBKR look to be cheapest the con I found may not suit me. I hate to tie big pile of US dollars in there if I want to save on that 2. No live data can be concern as during trading hours US price jump noticeable. Fractional shares need to enable.

For me I want fractional shares so left Syfe and IBKR as only options. For simple needs Syfe suffice but more complicated needs IBKR better just need get used to their UI

A few things to note:

1. There is one marketing strategy well-known among all MBA students: bundling.

Bundle something that is not needed by customers and force them to buy it/them together with what they really need. You see these too often in your life. Apple and MSFT are "pioneers" in such sales strategy. Apple TV subscription bundled with iTunes subscription bundled with Apple Care bundled with ... or for enterprise customers and student/home users who use Microsoft 365, you probably just need Word, Excel, and PPT, but they will include ... [you fill in the blanks ]

Same thing with live data. The way I see it, enabling live data by default is a form of bundling. Long term investors don't really need it. Google Finance and Yahoo finance's live feeds are at least accurate up to 30 s, last I experienced. And they are free of charge (of course you pay indirectly by selling your data to them, but that is whole another story). Seriously, if you hold a stock for 10-20 years, that 30s really doesn't make you lose out unless

a. you are dealing with some very volatile stocks or
b. you only want to hold them for a few seconds (e.g., day-trading) or
b. you are dealing with stocks with very thin volumes and large bid-ask spread at any given time, or
c. you are a hedge fund who needs to make substantial alpha.

And hedge funds all leverage to increase their returns within a very short period of time. They also trade with computer algorithms, which you don't and you can never match, since they have trading desks right inside the NYSE next to the market posts (or next to Citadel's servers in Chicago), their latency truimph your laptop connected from Singapore or Malaysia. NYSE orders' timestamp goes down to the nanosecond last year.

2. In behaviourial finance, researchers found that investors tend to segregate money which are the same on paper as if they belong to different things in their mind. This is what the brokers are playing you with. So they invented terms like "platform fee", "commissions", "all-in fee". You brain thinks they are kind of different, but they are all just fees. They are expenses you need to pay up upfront. Period. The system is designed to confuse you, the customer; to make it difficult for you to compare across the platforms and choose the one with the lowest expense for your trading needs. In academic terms, we say they are trying to make the market information asymmetric.

3. Beware of fractional shares limitations. They have no voting rights, ineligible for subscrption to rights issuances (if any) and other corporate action matters and cannot be transferred from out of IB, if needed.

This post has been edited by TOS: May 8 2022, 08:45 PM

very clear zero commission ≠ free trade... ppl assume too much never read...

you have supply vs demand... also base cost + profit margin... as commodities and fuel hitting record high, surely base cost will go up eventually...

Good

Hope it will push thru

That will depend on broker. Syfe fractional shares allow voting rights but of cuz in reality too small to make any difference but you can. For IBKR it is no last I check. Voting is last on my mind since so small but if it is rights exercise like Spore REIT it make big difference. As for transfer of fractional shares out both IBKR and Syfe not allowed. Dividends if any also work for fractional shares for both of them. The way I see fractional shares for US stock will soon be a norm to attract more ppl to invest. In fact Syfe is enabling fractional shares by default for all US stocks that allowed but con is this only work for market order and not limit order which is why for me live data quite important. All broker got pro and con just how you accept or cannot accept

https://help.syfe.com/hc/en-us/articles/441...-on-Syfe-Trade-

Now I know why you need live market data. Strongly suggest you to opt for limit orders instead. Live market orders can be dangerous and are at the mercy of the traders unless you know how to read movements and depth in the order books. This is not a big issue for liquid large-cap stocks, but may be the case for mid-caps and less liquid ones.

Does Syfe allow you to see the order book for any particular counter? Up to which quote level does Syfe trade provide? I can't find this info on the official FAQ.

https://www.investopedia.com/terms/l/level1.asp

Anyway, it's good to know that voting rights are still granted to fractional shareholders, unlike IB. But Syfe's official FAQ does not mention anything on what will hppen to other corporate actions for fractional shares.

As for norm to attract people to invest. I see it as norm to attract people to trade as if they are in casino.

With minimum 1 USD per share, you can start to buy and sell with less worries than the case if you need to fork out hundreds of USD and SGD to own a company, which encourages you to be more careful, thoughtful, and meticulous when involved in buying/selling counters in the US. This is true for all fractional share enablers anyway, not just Syfe.

This post has been edited by TOS: May 9 2022, 12:57 AM

Syfe fractional shares only work with market order at the moment. You either enter how much of a fraction shares or a fixed amount and the filled will not exceed but you can't set the price like limit. This is a con which I know before I enter as I want fractional shares

I can't see the order book or depth of other ppl buy,sell from Syfe which is why I say it is simple want more must go to IBKR. But I not happy with that 2 for every currency convert. For Syfe I change say 10 USD and I buy using that. I retain few US dollars as I don't want to tie too big pile of US dollars inside. Now after Syfe 5 trades I left a few US cents inside.

BT 100522: https://drive.google.com/file/d/1IO_ztNE80b...iew?usp=sharing

BT 110522: https://drive.google.com/file/d/1xGsvLjNQ26...iew?usp=sharing



Special edition of BT Wealth: https://drive.google.com/file/d/1Un8IgUYrr2...iew?usp=sharing

VICOM 1Q 2022 business updates: https://links.sgx.com/FileOpen/1Q2022%20Bus...t&FileID=716689

BT 120522: https://drive.google.com/file/d/1u3y9A6DpUL...iew?usp=sharing

Genting Singapore quarterly business overview: https://links.sgx.com/FileOpen/Q1%202022%20...t&FileID=716926

Some more business updates.

ST Engineering: https://links.sgx.com/FileOpen/ST%20Enginee...t&FileID=717129

SingPost: https://links.sgx.com/1.0.0/corporate-annou...b4339cc4e6e835c

BT 130522: https://drive.google.com/file/d/1TDloqM7U54...iew?usp=sharing