Date: August 4, 2010
by Roger Tan, SIAS Research
Many woke up early last Saturday morning to make their way to MND Auditorium. The event: SIAS Research’s quarterly outlook seminar titled “Will the Second Half be Worse than the First?”.
I kicked the seminar off with an “early bird Q&A special”. This is a pre‐event opening special where I take questions from the floor as a reward to participants who have arrived early.
Participants asked a slew of questions in the 15 minute slot. Questions ranged from what I thought about the Parkway Holdings’ takeover saga to which counters I think they should be looking at and also where I think the market will be heading.
I started the first presentation. In 45 minutes, I explained to the audience the important events that had happened in the last 18 months as well as my interpretation of these events.
However, I also highlighted that this would provide more reasons for the US Federal Reserve to extend its expansionary monetary policies. In the short run, momentum in the market is still strong and therefore investors could take advantage of it.
I ended my presentation with some tactical views. I discussed with investors what they could over and under weight and also provided some important, not to be missed, stock picks. Investors who have heeded this advice should have been rewarded that immediate Monday as a few of the highlighted stocks closed between 5% and 7% higher.
Janice Loh, Kim Eng’s Deputy Manager for CFDs, was then invited on stage to show how CFDs can help investors increase their flexibility in implementing investment strategies. Janice explained how investors could use CFDs not only to extend a position and short a counter but also hedge their positions and implement long‐short strategies.
The last speaker, SIAS Research’s technical analyst Edmund Seow, shed some light on what to expect of the Singapore markets in the next few weeks. Edmund warned investors to expect more volatility ahead and advised them to control their emotions during such periods. “Emotions”, said Edmund “will lag the market!”
We would like to thank all the participants for making our Q&A session so lively and also for making this seminar a success. We would also like to thank Kim Eng for supporting this seminar.
Don’t miss our next quarterly outlook seminar in Oct or Nov 2010 (register your interest with us now if you want). In the meantime, you can look out for our monthly face‐to‐face session to meet our analysts and ask them questions.
This research material is for information only. It does not have regards to the specific investment objectives, financial situation and the particular needs of any specific person who may receive or access this research material. It is not to be construed as an offer, or solicitation of an offer to sell or buy securities referred herein. The use of this material does not absolve you of your responsibility for your own investment decisions. We accept no liability for any direct or indirect loss arising from the use of this research material. We, our associates, directors and/or employees may have an interest in the securities and/or companies mentioned herein.
This research report is based on information, which we believe to be reliable. Any opinions expressed reflect our judgment at report date and are subject to change without notice.
As of the date of the report, the analyst and his immediate family do not hold positions in the securities recommended in this report.
This research material may not be reproduced, distributed or published for any purpose by anyone without our specific prior consent.