Like this, bro,... the bank gives you a 'title' because you keep 3mil RM with them. But I don't want the title. I want to be able to make money with money, so that I don't need to make money with time and effort.

Hence, the title is not important.

If one has a lot of assets outside the bank, it's the same thing,... why need the bank to give you a title ?

I think,... this is the same thinking sa many in a ctry like Msia who want the Dato', etc titles,...

I'm not hitting you, bro,... just giving my opinions only.

By the way, if you are really an economic student, then I'm really sad with my own performance because when I was a student, I only aimed to do well in my job. Never knew abt all these things until I made some money.

Since I've talked so much,... I'll add one more : another thing in today's world is,.. we need to be able to make money in the most 'righteous and legal way possible'. Then we need to know if we have to fulfill our responsibilities to countries and authorities wherever we are making money from.

The world is different today,... things are complicated,... it's no more like nothing else matters except making money. It's no more like in the olden days when we can say.... no problem-lar, so long as I can make lots of money and hide the money safely, I'll be happy for the rest of my life...

What's the point of being able to make lots of money and then one has to hide here and there and to watch his back against authorities going after him ?

[/quote]
OK, maybe I propose change gears on this topic. I have been very obsessed reading many threads hunting the Lowyat Super Financial Gurus. I dunno how to set voting....

But, after many weeks reading nightly, I easily identify potential super financial people, very impressive in financial knowledge n likely high networth, in my mind they are (not necessary in order).... Master Sifu Ramjade, MUM, Hansel. Others? However, Ms Hansel msg above too 'cheem' (cryotic), he lost me liao.

I urge the other readers to cast their votes... We are here to learn n will do it respectfully.

By reading their posts, we can learn many things. Don't feel offended if I didn't include your call signs. My bad!!!

Thank you.

[quote=Dd2318,Nov 20 2019, 04:23 PM]

[/quote]
OK, maybe I propose change gears on this topic. I have been very obsessed reading many threads hunting the Lowyat Super Financial Gurus. I dunno how to set voting....

But, after many weeks reading nightly, I easily identify potential super financial people, very impressive in financial knowledge n likely high networth, in my mind they are (not necessary in order).... Master Sifu Ramjade, MUM, Hansel. Others? However, Master Sifu Hansel msg above too 'cheem' (cryptic), he lost me liao.

I urge the other readers to cast their votes... We are here to learn n will do it respectfully.

By reading their posts, we can learn many things. Don't feel offended if I didn't include your call signs. My bad!!!

Thank you.

[/quote]

Sorry ah Ms Hansel = Master Sifu Hansel.

This post has been edited by Dd2318: Nov 20 2019, 04:26 PM

4% with net worth above 100k?? true or not?? I think this figure is under-reported.

everyone pays by cash, is it?

If one could keep RM 3m in the bank mean his other assets e.g fixed assets is likely substantially more. Keeping RM 3m in bank doesn't mean it is idling. Some keep cash to preserve his wealth as he has income from other assets or prepare to pick up dead chicken.

Of course I am a economic student.

This wealth report is from a investment bank and data is consistent with epf, etc.

This post has been edited by icemanfx: Nov 20 2019, 05:39 PM

Then I'm on the 'unlikely' case. My paper assets in banks are more than my fixed assets outside of the banks.

Keeping CASH to preserve wealth is,... to me,... loss of opportunity cost. This is especially so if you are holding cash in the form of a weak and easily-wavered currency.

Waiting to pick up dead chicken is also loss of opportunity cost. If the dead chicken does not come, then he will be waiting forever, forced to 'enjoy' low deposit interest rates, which keeps going lower today as time goes by.

Then you might tell me it's a form of diversification,.. well, I'll diversify with instruments then, not with cash. Having said this,... I can never stop cash coming in,... cash is coming in faster than I can invest out.

Most important is one must have the knowledge and experience of where to invest with the best risk/return adjustments.

Bank AUM is not restricted to cash only. Whether keeping cash is a lost opportunity is subject to circumstances.

Everyone risks appetite is different. What's best for one may not apply to another. What is the best return change from time to time.

This post has been edited by icemanfx: Nov 20 2019, 06:19 PM

I'm aware of this,... but since you mentioned cash, so I followed what you said.

But if we speak on the basis of having instruments to invest into, then as I said earlier, I would choose a Private Bank that can provide me with programs that I can make more money on with my available money. If such a Private Bank exists, I wouldn't mind going with it.

Liquidity comes via a few ways, one is availability of gearing that the bank can accord to me.

My experience tells me all Private Banking institutions have gearing facilities, what we have to be careful of are the details with which we deploy this facility, ie the terms and conditions of the loan. And then,... what programs are available and how DANGEROUS those programs are when we deploy the facility onto the programs...

An eg would be : do they do mark-to-mkt activities every week onto our holdings ? If they do, then I wouldn't want to 'play' because it will be too strict. I wouldn't even join them in the first place.

Pretty sure you are not loaded from the way u talk.

Different bank provide different vehicles of investment. Some are more keen to earn commission than for the good of customers. You could always refuse gearing facility, need not take up.

I would agree with the above sentences.

However, I would also add that the principles and tactics of engaging with Private Banking remains universal, is time-tested and would not chg for the foreseeable future. Private Banking engagements is actually an art and a science of its own.

It is,... to me,... a way of making more money with money.

Of course, there are other ways out there.

Mine is in Private Banking, and in international regulated instruments.

Yes, true,... we can avoid,... but well,... to make larger amts of money, legally... I'm afraid we needed gearing, how else to do it ?? Perhaps,.. steal, or mis-use national funds ?

I am not aware of any other tactics,...

Then again, the term : large amts is relative.

You are right ! There are many who are more loaded. 'Loadedness' is relative.

But 'loadedness' is not my goal,... so it's okay !

You can be more loaded,...

"Since I've talked so much,... I'll add one more : another thing in today's world is,.. we need to be able to make money in the most 'righteous and legal way possible'. Then we need to know if we have to fulfill our responsibilities to countries and authorities wherever we are making money from.

The world is different today,... things are complicated,... it's no more like nothing else matters except making money. It's no more like in the olden days when we can say.... no problem-lar, so long as I can make lots of money and hide the money safely, I'll be happy for the rest of my life...

What's the point of being able to make lots of money and then one has to hide here and there and to watch his back against authorities going after him ?"

I'm curious,... bronkos,... how are you able to estimate that I am not loaded from the my statements in the above ? I just thought of asking you this.

I have always carried the above thinking whenever I want to make money,... pls elaborate for me. Perhaps I missed something here,...

I'm curious,... bronkos,... how are you able to estimate that I am not loaded from the my statements in the above ? I just thought of asking you this.

I have always carried the above thinking whenever I want to make money,... pls elaborate for me. Perhaps I missed something here,...

[/quote]
The discussion really very deep liao.
Just wanted to understand meaning of 'loaded' in the context.
Loaded = lots of money?
Loaded = as in gearing (taking loans to expand investment) ?

Sorry for interruption, pls continue.... Maybe, just make it easier, what is the net worth? If million-million, then surely Master Sifu Hansel!

[quote=Dd2318,Nov 20 2019, 07:19 PM]
I'm curious,... bronkos,... how are you able to estimate that I am not loaded from the my statements in the above ? I just thought of asking you this.

I have always carried the above thinking whenever I want to make money,... pls elaborate for me. Perhaps I missed something here,...

[/quote]
The discussion really very deep liao.
Just wanted to understand meaning of 'loaded' in the context.
Loaded = lots of money?
Loaded = as in gearing (taking loans to expand investment) ?

Sorry for interruption, pls continue.... Maybe, just make it easier, what is the net worth? If million-million, then surely Master Sifu Hansel!

[/quote]

I think he meant loaded means unlimited amt,... but not too sure-lar,... some UNHWI's I spoke with meant loaded like that-lar,...

Well,... Jho Low is loaded,.. ex-PM is loaded,... these are very good egs.

However,... I think I wouldn't want to employ their tactics of making money-lar,...

[/quote]

I think he meant loaded means unlimited amt,... but not too sure-lar,... some UNHWI's I spoke with meant loaded like that-lar,...

Well,... Jho Low is loaded,.. ex-PM is loaded,... these are very good egs.

However,... I think I wouldn't want to employ their tactics of making money-lar,...

[/quote]
Oh! I see. No need to convince people. Master Sifu generously share financial phylosophy.

I for one believe Master Sifu very 'loaded'...and I mean the proper way!

Thank you n sorry for interrupting. Better than reading financial books n free advice. Where rest of Master Sifu Ramjade n MUM?

The RM3 million net worth is a law thing... If u have RM3 million net worth, Banks can legally offer u some sophisticated products without having to file for certain documents with the authorities.

This RM3m is for all assets, but since banks won't have details of ur other assets, many banks just blanket apply RM3 million for assets with them.

Leverage amplify profits as well as losses. Whether or how much to take is subject to one's risks appetite.