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Announcements
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Ideas
Macro
“There are so many exogenous factors that to try to forecast the market with a degree of confidence is difficult,” Birinyi says. The best strategy for stock investors, he says, is to stick with iconic brands, such as Apple Inc. (AAPL) or Ralph Lauren Corp. (RL), and with companies that offer “meaningful dividends” of at least 5%. Birinyi is the president of stock market research and money- management firm Birinyi Associates Inc.
Comment: Yet another prominent analyst and fund manager makes a statement on volatility. Traders trive on volatility but investors can sometimes be frustrated. Suggest taking a shorter-term trading perspective for the next 6 mths
Singapore
More layoffs loom and may linger next year. Unions expect 20% more retrenchments this year; next year even more uncertain: PM Lee
Comment: This affirms my statement mention in this note some weeks ago. Many are unaware of the weakness of the economy with fluffed up statistics being declared. Citibank just announced that it will cut 4500 jobs and limit hiring to "critical" jobs. Citi is not the first bank to do so and to such extent. When banks start controlling head count in such a way to control costs, other industries usually follow. This is a global phenomenon, not a local one. We are not isolated and resilient to the global environment as we will like to be
Casino Gaming
Melco Crown Entertainment (6883.HK) to start trading in HK today
Comment: Melco is the company of Lawrence Ho, son of tycoon Stanley Ho. First listed in the US, it now has a secondary listing in HK. Currently, the Melco Int (200.HK) is the property development arm. Melco Crown Entertainment is the casino arm. Consider trading the HK market. Commissions are generally lower than the Singapore market and get exposure to more alternatives to Genting
Sources: Bloomberg, Reuters, WSJ, The Business Times, Analyst Reports, Company Announcements
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