Funny, what is this outfit 'High Notes Investor Group Committee'?, Our people are adept in forming hocus pocus groups at the fall of the hat. Tonmorrow we may see more set ups like "MRT Disgruntled Commuters Action Group', 'Pedestrians Morning Walk Group'. 'Jobless/Retired Armchair Critics Action Force'.. etc
people are forming groups becos they felt the authorities are not helping them. nothing funny about it. no sound investor will put their money into a product with such a high risk for just 5% return.
I wonder when people say that "oh a lot of people went in eyes open" and so on, do they have empirical evidence to share?
ChristineChua - It's called civic activism. If you've never lifted a finger to do what's right or to take up a challenge, you'd prob won't know what it is about. Over-reliance on others will do that to someone.
the letter writer asks:" Now, Mr Chua could well say that investors may assert this only because High Notes 5 has collapsed. But would he also contend that a reasonable retail customer, if given all correct information, would still risk his entire investment on such a risky product in return for a mere 5 per cent in annual interest? "
This question is not even proof that all investors of the notes have been misled. Just look at some big time risk-taking gamblers. They can bet so much money on something that gives a low probability of winning.
Besides, would getting 5 % of annual interest have been the only way of earning profits from the Notes? How about the price fluctuation of the Notes? Besides the 5% annual interest, some investors might have been hoping for a rise in the price of the Notes before selling them to gain a greater profit. Of course, the subprime crisis destroyed their hopes.
AlChristian, you are misinformed - there is NO upside to any of the products ie, aside from the 5% interests the value do not go up. It can only go down. That's why it is a very bad product. Not only that - no one would have bought it unless some wool had been pulled over eyes. ASk yourself. Who wld buy such a product with such high risks and so-so returns?
November 25, 2008 Tuesday, 02:02 AM
