MONEY MASTER

Today while reading the book "The Intelligent Investor", it reminded me of the core of investing and the need to filter the noises.  But I think the story regarding IPO just struck me more than the rest today. For those who have no idea what IPO is, it means "initial public offering", or the first sales of a company's stocks to the public. Looking at one of my favourite company, Microsoft, one could find great reasons to invest in IPO.....because if you'd bought 100 shares of Microsoft when it went on public on March 13, 1986, your $2,100 investment would have grown to $720,000 by early 2003.  According to the book, finance professors Jay Ritter and William Schwert have shown that if one had a spread a total of only $1,000 across every IPO in January 1960, at its offering price, sold out at the end of the month, then invested anew in each successive month's crop of IPOs, the portfolio would have been worth more than $533 decillion by year e...

Abu Dhabi’s sovereign wealth fund International Petroleum Investment Co (IPIC) will continue the publicly scrutinized dispute against 1Malaysia Development Bhd (1MDB)...I would call it a round 2, in court.  IPIC vs 1MDB (round 2), in court IPIC  is seeking $6.5 billion from the troubled Malaysian state investment company as it moves the spat into arbitration. The request for arbitration (RFA) is in regard to IPIC's claim that 1MDB and the Ministry of Finance (MoF Inc) have failed to perform their contractual obligations under the binding term sheet (BTS).  The Malaysian investment fund and IPIC are locked in a tussle that spilled over to repayments on bonds issued by 1MDB. That led to a default in April, adding to the financial scandals for the Malaysian company that’s already a target of global probes into alleged money laundering and embezzlement. 1MDB has denied wrongdoing. The dispute between IPIC and 1MDB arose after the Abu Dhabi sovereign wealth fund s...

The D Day is approaching on whether the U.K votes to leave the European Union on June 23.  While to a lot of people, it is something that has to do with the U.K, the impact could hurt the global economy, at least according to U.S. Treasury Secretary Jacob J. Lew. According to a report by Bloomberg, Lew said  “It’s in the best interest of Europe, the U.K. and the global economy and for geopolitical stability for the U.K. to stay in.  “I only see negative economic outcomes if the vote goes the other way.” And the U.S Treasury Secretary wasn't the only who feel that way. Financial markets have been whipsawed in recent days as investors grapple with the possibility of a British exit from the European Union. Sterling fell for a second week in a row as opinion polls suggested the vote is too close to call; the latest Opinium poll conducted for the Observer newspaper and released Saturday had 44 percent of respondents wanting to remain in the EU and 42 perc...