eh - RHB wan dont scare the fellow silly la
that wan not KAPUT la, that wan close coz not feasible for RHB (read as not as profitable) to keep running
was profitable to me heheh. then bakas closed it
thank gawd FSM gave me 0% service charges to buy into any of their funds (GEMs i did)

NAV is Net Asset Value, which is calculated mathematically from the fund's total holdings of equities, non-equities, etc
LESS
pro-rated management fees & other costs
then DIVIDED by number of units

in short, NAV keeps fluctuating whether or not fund open or closed to new $

was very clear ma
ie whoever said house prices doesn't fluctuate as much as stocks has NOT been going to house auctions
everything with a price fluctuates, depends on whether we WANT to be tracking it or just ignore on/off

true they should
maybe they think that the instructions printed on the form says it all (black pen, no whiteouts/corrections, etc.) was enough for investors

at what %pa
and how long
with what collateral?

everything can be negotiated in business (donations too)

does it really matter who's right?
as long as one is investing (ie NOT TRADING) + doing asset allocation + in the accumulation phase of life (ie not retired and having no cash flow or income)

most of us here are accumulators
some THINKS they are traders (sorry to burst your bubble cats, wrong vehicle)
why the wall of worry la

funny lor - when Tesco or Gadget shops have huge % down sales
people rush in to buy
now, some of these same people getting scared of stock prices discount (fall) pulak.

Have a plan
Work the plan
Dont draw the "fire escape" plan during a fire

All these expectations of >8%pa and "for sure stuff" within x years...

sigh.. we forget so fast - of 1997-1998 Asian Currency Crisis + 2008-1st qtr 2009 Credit Crisis / CDOs...

Data is data, imperfect as it DEPENDS on the day we look at it.
Thus, one should take into account such AND only invest a portion of $ which is NOT NEEDED FOR SURE for >5 years.

eg.
US markets' mutual funds / ETF
If U looked at your purchases (done in 2009) @ 2010, wah liao eh
If U looked at your purchases (done in 2009) @ 2011, still wah liao eh EXCEPT if Aug/Sep 2011
If U looked at your purchases (done in 2009) @ 2012, still wah liao eh
If U looked at your purchases (done in 2009) @ 2014, still wah liao eh EXCEPT if Oct 2014
If U looked at your purchases (done in 2009) @ 2015, still wah liao eh EXCEPT if Aug 2015

>20% sure, heck 2010 is like holy smokes 100%pa+/-
however, in long term average, 6%pa-10%pa is my expected and statistically for US markets,
it's approximately 8%pa EXCLUDING FEES (eg 1.5%pa management fees by fund houses)

Note - "average" is a head-case itself
Ever heard of the joke: The 6' tall man, drowned in the river with average depth of 5'?
This is where yearly standard deviations (volatility) comes in.

Note 2- some thinks of SD / volatility as "risk".
Personally, if no volatility, no chance of growth
eg. FD's "flatline".... got opportunities for growth? beating inflation in the long term?

er.. for those who are REALLY SKEPTICAL on long term returns, i've been holding Eastspring Investment SmallCap since PRU days (ie. 10years+/- ago) and it is beating 8%pa even as at today and at the low of 2008-2009.
Maybe i'm lucky or it's just statistical probability if the fund managers are consistently "not bad" (don't need to be "great")?

long winded wall of text, just old fart venting/sharing views
to toes unintentionally stepped on

This post has been edited by wongmunkeong: Jan 26 2016, 11:31 AM

Been there, done that for the dang roof

2001 - my first home, roof tiles and part of roof severely damaged due to freak hail stones storm
it was so bad - all my cactuses outside died + roof of LRT station Taman Bahagia was blown off!
Bottom line - had to go rob my stocks & UTs of RM12,000 to fix roof AND plaster ceiling... urgh.. talk about buying high/middle AND selling low..
Credit card as emergency fund doesn't cut it for "cash stuff" - like paying contractors

Now not so stupid

This post has been edited by wongmunkeong: Jan 26 2016, 11:47 AM

i'm a walking text book of "kaka happens"
sigh.. so "kids", trust me when i say "kaka happens, have a game plan" - speaking from real stupidities happening in MY, not hypothetical and in US/EU/etc.

eg.
employee of dot com bombs (EPF & tax gone)
employee of sunset companies
trading UTs (yes, that stupid)
trading futures without an edge / systemized execution
trading options with no controlled cut-loss possible at the last day/hour (think SPX & RUT Fri AM settlement )
roof kaboom
accidents
divorce
kidS
more to come i think..., though hoping for not much/none (life sucks, suck harder! )

aiyo.. EMPLOYEE'S contribution to EPF lar, ie. cash in pocket, not pumped into EPF
Gov contribution pulak...
Gov contribute to EPF meh,other than as Employer?

er.. not that leh
that 3% "cut" is NOT Employer's contribution to EPF
it's our contribution from our salary
Thus, cash salary gets more $ since not going into EPF (3%)
Kapeesh?

Just something i think worth reading, especially with most of us AND specifically "newbies" (those that were not "bent over" in 1997-1999 + 2008),
even with PERFECT FORESIGHT & long+short perfect hedging:

http://blog.alphaarchitect.com/2016/02/02/...ctive-investor/

snippets:
"Yet check out the worst drawdown on the PERFECT hedge fund — 70%+. Incredible. And it gets better…"

"Let those numbers soak in a bit.

What the chart highlights is that even GOD HIMSELF would get fired multiple times over. The performance on the perfect hedge fund would get crushed many times over by the passive index.

These results highlight the fickle nature of assessing relative performance over short horizons. We’ve shown this quantitatively, but Ben Carlson talks about the challenge of short horizon thinking here, and Meb Faber recently highlighted that investors are terrible at timing active investments.

Takeaways:

Keynes was right: Markets can remain irrational longer than you can remain solvent
Active investors MUST have a long-horizon…and few investors actually have horizon."

This post has been edited by wongmunkeong: Feb 4 2016, 09:18 PM

keeds these daze have not seen -80% "returns" of 1997/1998 (1998 was the lowest KLCI @ 200+),
thus worry this/that lor

well, to execute when fear / lelong is in the air, i've just lumped sum in for Manulife Global Resources Fund for myself & my sis.
(1 out of 2 bullets for energy/commodity equities)
Was a toss-up between AmCommodities or Manulife Global Resources Fund, but what the heck - lazy to track another

This post has been edited by wongmunkeong: Feb 15 2016, 04:31 PM

Gold? lumped in liao lor last year on the lows (not lowest of course) - into the commodity itself as i treat it as a ForEx

The "1 more bullet left" is specifically for energy stocks/funds - just in case it does a 1997 crazy low -->1998 CRAZIER low

This post has been edited by wongmunkeong: Feb 15 2016, 07:09 PM

Some people prefer buy high, sell higher ma

Personally, i'd buy more Emerging Markets - already loaded ESI GEM + hunting via ETF CIMBA40
hehe - cigar-butt / cheap fler here

This post has been edited by wongmunkeong: Mar 7 2016, 07:47 PM

hehe - momma says "Know thyself - the greatest battle"
anyhow, not U lar - just generally people tend to get excited & chase things that are already up.
still, if there's A PLAN & METHODOLOGY, is good.

buy high, sell higher - bulls (momentum, arbitrage, etc) makes $
buy low, keep/sell much later - bear (chicken littles, pessimists, etc.) makes $
no plan & methodology - pigs get slaughtered

Uncle - U & i are in the similar age-band leh (i think - beatles/disco era)
AND U are already in the FULevel (https://www.youtube.com/watch?v=xdfeXqHFmPI - STRONG LANGUAGE WARNING! please avoid if ears/prim&proer fails easily), thus need not work for /chase $

Most of us - definitely me, still a slave to the great $

Thus U have the greatest "sight" - investing like a MULTI-millionaire, ie U only take rewarding risks, not just any potshots

This post has been edited by wongmunkeong: Mar 9 2016, 09:31 AM

Just sharing - 10 years' asset classes' returns
http://awealthofcommonsense.com/2016/03/up...formance-chart/

Being a bottom-feeder (mudskipper? ), seems to correlate with my lelong buying / pecking on "commodities & emerging markets". Cautionary note - i am willing to keep buying / pecking every 4 to 6 months for 5 years (on top of value averaging quarterly), as long as it's still "fear/sad" on these.

laaaaaaaaarge trailing commissions?
incentives for each tier hit (AUM)?
etc etc - i'm sure they've negotiation powers hehe