Getting people to enrol for Forex training course

Dear Mr. Tan,
I heard from a friend who went his preview about how X (a forex trainer) slashed and reduced course price to attract people to join his course. My friend felt X was treating the audience like clowns. He mentioned X slashed the price until around $300. While everyone was running to the back to sign up, he then finish writing $300 per month, and not just $300.


I have attended other seminars before and I think it is normal, but not to the extent of not finish writing to somehow cheat people. Most people would just state their actual course fee was (example) $20k, slashed to $10k, $5k, eventually $2.5k to make people think they are having great deals (not just Forex).


Regarding the (named removed) website, I saw people complaining about him writing $X amount per month installment which added up to be more than the course fees. I believe it was 0% interest just like most schools are doing now. After searching around online for feedbacks, I felt many people are complaining about him that he is more of a motivational speaker and sales person than a trainer. I watched some videos of his and I felt too.


Hopefully people could be more caution before signing up for courses.

Staged accidents

A staged accident is created by a syndicate involving a criminal workshop. The workshop boss arranged for an accomplice to drive on the expressway and brake suddenly, causing the following vehicle to crash into its rear. Another accomplice will appear quickly with a tow truck to bring the accident vehicles for repair. This will be followed by a big repair bill for the vehicle in front (which belonged to the syndicate).

This type of staged accidents had been happening for many years, but nobody bothered to take any action. One day, the driver of the following vehicle was the son or a prominent politician. He related the matter to his father who brought up the matter to the authority. This caused the authority to take action. For the next few days, there were big stories in the media and the term "staged accidents" was coined. There was a furor, because this was considered to be reckless driving.

This happened in a certain country about 10 years ago. Guess the name of this country, where nobody takes action until it involves an important person's family member?

Unethical forex magic trick

Dear Mr Tan,
I strongly suspect that (name removed) is performing an unethnical forex magic trick to lure gullible students to sign up for his forex courses. Please see one of his video (link removed). He probably have an accomplice behind the scene to feed him the calls for long or short. His accomplice may be somewhere else having access to the chart on the screen and signal long or short call by simply calling his handphone. One on his left pocket and the other on his right pocket.

I am a forex trader myself and i am very sure this is a scam. Please help to unweed this unscrupulous forex school before more gullible students fall into the trap.

Re-admission to Universal Studio

The rules of Universal Studio Singapore said that "for same day admission, you must present the Studio admission ticket and hand stamp for re-entry".

I recall visiting the theme parks in America where they recognize the hand stamp (or similar tags). They do not require the admission ticket to be shown as well. I wonder if this reflects the peculiar  requirements in Singapore - where it is usual to add to the hassle for customers?

Benchmark for housing prices

An American told me that 30 years ago, the banks will give a mortgage to the borrower to buy a house for not more 3 years of the income of the breadwinner (and the income of the working spouse is disregarded). The bank also required the borrower to make a down-payment of 10% for the house.

If this rule is applied in Singapore today, the average price of a 4 room HDB flat should be $120,000 (assuming an average income of the breadwinner to be $40,000).

The price of HDB flat that is being charged is about 3 times of this benchmark - and a 4 room HDB flat is considered to be quite modest, compared to a typical house with a land in America. (See http://en.wikipedia.org/wiki/Public_housing_in_Singapore)

This shows how costly are HDB flats in Singapore - and they are considered as "public housing". No wonder, both parents have to work and they still do not have enough money for retirement. The housing is far too expensive.

HDB flats are getting smaller and more expensive

This is an interesting perspective told by Lucky Tan

http://singaporemind.blogspot.com/2011/11/smaller-flats-doesnt-mean-lower-quality.html

Administrative executive

There is a vacancy for a person to carry out office administrative work at our office at Midview City, Sin Ming Lane. The working hours are from 9 am to 6 pm, five days a week. The expected salary is $1,500 per month. Preference will be given to a candidate who has working experience and who lives nearby. Interested parties are required to send in a resume and expected salary to ceo@tankinlian.com. The candidate is expected to start work during the third week of November 2011.

The candidate must be a citizen or permanent resident or someone who has a dependent work pass. Candidates who wish to work part time on a reduced salary will also be considered.

MF Global Singapore clients

Mr Tan,

Your reader might be interested in this news.

http://www.themalaysianinsider.com/business/article/nearly-half-of-mf-global-singapore-client-monies-held-abroad/

 SK

My views
It is better for Singapore investors to keep their accounts with local brokerages, rather than foreign brokerages, due to this type of problem. The local brokerages are more likely to keep their money in Singapore. Even though the client's monies are kept outside Singapore, I believe that they belong to the clients and should be returned to the liquidators on demand. I don' think that the foreign banks or other institutions have the right to reject the request of the liquidators to return the monies. But, it seems that international finance is getting very complicated and risky.