calibrator Also found in: Thesaurus, Medical, Encyclopedia. cal·i·brate (kăl′ə-brāt′) tr.v. cal·i·brat·ed, cal·i·brat·ing, cal·i·brates 1. To check, adjust, or determine by comparison with a standard (the graduations of a quantitative measuring instrument): calibrate a thermometer. 2.a. To make corrections in; adjust: calibrated the polling procedures to ensure objectivity. How many of us as retail investors planning our cash flow as retirees thinking on the role of our War Chest? What else can War Chest do other than seizing opportunity costs during market crashes ? War Chest as Calibrator of cash flow across market and economic cycles when dividends are cut during bad times? Anyone? Companies set to deliver $20.1b this year following circuit breaker measures: Report Singapore companies are expected to deliver US$14.2 billion (S$20.1 billion) in dividends this year, down 4.5 per cent from the US$14.8 billion shelled out last year, a report noted yesterday. It said the decline comes amid a stark outlook following the implementation of circuit breaker measures on April 7, which are projected to shrink gross domestic product by more than 4 per cent.
COVID-19 has offered Uncle8888 good insight into his War Chest as Calibrator to manage future cash flow as retiree!
5 years later ..... COVID-19 has "punished" Uncle8888 and showed him the way that small money can be saved by switching from drinking kopi-o kosong at his HDB's kopitiam to Nescafe Kopi-O Singapore Kopi at home. Another saving in May is on $64 senior monthly concession pass. Probably, he just spend a few dollars on bus fares going to buy hawker food from Kovan and Ci Yuan. CB Phase 1 on 2 Jun 2020; he is going back on his $64 monthly pass for June to roam again. LOL!
How to be minimalist? Lessons learnt! Stay at home and stay healthy! Truly tested way to FIRE!
SINGAPORE conglomerate Keppel Corp has unveiled a 10-year roadmap that sharpens its focus on four key segments and on growing the units as an integrated business, with an eye on mergers and acquisitions and divestments of selected assets.
Under Vision 2030, which was a year in the making and was completed last month, the diversified firm has redefined its various businesses into four areas - energy and environment, urban development, connectivity and asset management.
Keppel, one of the world’s largest oil-rig makers, also wants to pivot away from lumpy project-based earnings towards recurring income, in hopes of being rewarded with a market re-rating. It also aims to crank up its efforts to meet a 15-per-cent return on equity (ROE) target.
Keppel chief executive Loh Chin Hua told The Business Times: “This plan is a big step up (from Vision 2020 adopted in 2014). The Keppel of 2014 is very different from the Keppel of 2020. Much water has gone under bridge. My colleagues are bolder now.
“We started out as a conglomerate, with disparate businesses unified by name and a common heritage; we are becoming one that is clearly an integrated business. We are breaking down the silos to work more synergistically.”
To build a “connected value chain” and capture "new profit pools", Keppel’s individual business units will tap the synergies across the group that may not have been available to them earlier, such as floating data centre parks and large-scale urban developments.
Keppel will zero in on renewables, environmental solutions, near-shore floating infrastructure, connectivity solutions including green data centres and smart-district development; in short, it wants to become a “powerhouse of solutions for sustainable urbanisation”.
It will also activate its sizeable landbanks in China and Vietnam to recycle capital and improve returns. Sustainability will continue to remain a centrepiece of the company's strategy, said Mr Loh at an analyst briefing held on Thursday to announce Vision 2030.
Keppel Capital, the group’s asset-management arm, will be an “important twin” to help fund the solutions created by the group, said Mr Loh.
Keppel’s blueprint is being launched amid Temasek Holdings’ pre-conditional partial offer to gain control of the firm. In all likelihood, the S$4 billion deal appears to be on track - the offer’s long stop date is Oct 21. After that, Temasek plans to launch a comprehensive strategic review of Keppel’s businesses; it has said it intends to work with Keppel’s board on the review.
Mr Loh said: “A large part of this process (Vision 2030) had already taken place well before the pre-conditional offer in October. We have to plan for the long term and have a vision that can serve as a rallying point for Keppelites ... particularly at this point of time, when there is a lot of uncertainty.
“It’s not all about profits, but also about how we can be a part of creating greener urban spaces. This vision transcends Covid-19 and any short-term events for the group. We believe it will resonate with all parties,” he said in response to a question on the plan’s timing, coming merely months ahead of Singapore's state investment firm potentially taking control of the company, to be followed suit by the review.
Keppel’s multi-year plan to lead its transformation over the long term with interim targets for 2025 follows a six-year plan laid out in 2014 - the year Mr Loh took over the reins as Keppel’s chief. The multi-year plan is being launched against the backdrop of an oil price slump and the novel coronovirus pandemic.
“Our belief is that Covid-19 will not change some of the trends that have already started. If anything, many trends such as digitalisation and climate change will accelerate,” he said.
Around 30 young Keppel leaders across its business units contributed their ideas that took into account emerging trends and Keppel's capabilities in the making of Vision 2030.
Keppel's shares fell 6 Singapore cents or nearly 1 per cent to finish the day at S$5.97.
CW8888: Uncle8888 has been loving the brand of Keppel for long time; and also made more than enough realized gains to fully cover all expenses of his three children's local university education at NUS, SMU and SUTD. A big thank you to Keppel! All the best in your evolution on this 10 years road-map! Companies who keep on evolving successfully will survive and reward those long service and faithful retail shareholders!
Walau! $7 to $8 coming??? THE stock price of the Singapore Exchange (SGX) plunged on Wednesday after it announced that it would discontinue its MSCI equity index futures and options contracts, save for those under MSCI Singapore, when their licence agreements expire in February next year. SGX fell 11.8 per cent or S$1.17 to S$8.73 as at 3.40pm on Wednesday, after 10.7 million shares changed hands. This marks the lowest share price for the counter in two months. SGX shares traded at S$8.59 on March 24.
It was the most traded stock by value on the Singapore bourse by Wednesday afternoon, even though it had lifted its trading halt only during the midday break. MSCI contracts are ~15% of Equity Derivatives DAV; ~12% of Total Derivatives DAV Potential proforma 10% to 15% impact to FY2021 NPAT, assuming full 12 months and before mitigating actions
Read? https://investmentmoats.com/stock-market-commentary/business/why-i-suggest-people-give-value-investing-summit-a-miss/ WTF! After 10 years with mobile Internet and King Google at our finger tips any time and anywhere, snake oil Kings in investing course selling are still screwing up younger Bei Kambing, near retirees or FIRE seekers! Snake Oil Kings are from the same family of Snake Oil characters! After the 5 days, Ken Chee himself appeared to really hard sell. He said he doesn’t normally appear in front of students any more. Well, anyway, appear he did. Man…. What a marketing to begin with! He can talk really well. I also sense he has that arrogant tone of voice and a sinister laughter. He seemed to be so happy at his past investments making him so much money that he told us “Come me, laugh if you want by typing HAHAHA!!! Or type WOWWW….”
Sunday, 9 April 2017 Read? Seriously How To Avoid Being Fooled By These Scams, "Gurus" or Trainers Read? Wow! That 20% Compound Return!!! (3) Saturday, 24 July 2010 Read? Get Rich Courses or Coaching? - II Few of my colleagues and myself paid $50 for his Candlesticks Technical Analysis Workshop and instead of spending the whole night do candlesticks analysis. He did something unexpectedly. We received more than just candlesticks analysis throughout the night. In between every few slides he would put a few more slides to try to sell his more expensive Trading course at $X,XXX and wasted much of my precious time and made me damn pissed off. He claimed to make millions from trading and even wrote a book to teach people how to make millions from trading and yet he was so hard up in trying to make a few thousand buck here and there by pushing his expensive Trading course during a totally unrelated event as we didn't come for a preview on his Trading course. We went to the Workshop to study more on Candlesticks technical analysis and not to waste our time listening to those rubbish Get Rich course. Can you believe it or not? Someone who claim he made millions and yet so hard up in making thousands. I was dumb for words for these so-called Millionaire bums!
Read? Investing Made Simple by Uncle8888 (6) Do we really need to know or bother the difference or characteristic in speculating (i.e. technical or craftsman or professional term used in the market; but at casino or mahjong tables, layman called it gambling)?
When we make money from one another in the market; it is a zero-sum; but we like to make it sounds more technical, smarter or professional by calling it speculating instead of gambling as there is this element of skills or craftsmanship involved in addition to just luck factors. Buying ToTo is gambling! You just need the capital of $1 and join the Queue. Sorry folks! God of Fortune is on long sabbatical. No such luck! In investing; it is speculating over longer period of time on dosages of Panadol; and more important but less mentioned by investment bloggers - Retained Profits! Read? How to become rich in stocks??? (8)
Data shows that not only do stocks not follow changes in GDP, it's actually GDP that follows changes in stock prices
Stock markets will often act in ways that are counter to the consensus view of the majority of investors, as we are experiencing at present.
A DEAFENING chorus has emerged since the stock market bottomed in late March and then staged a fast rebound that caught everyone by surprise, even as the pandemic numbers continued to grow:
How can the US stock markets be only down 15 per cent from all-time highs, when we are facing the worst global recession in a century, worse than even 2008?
The conclusion from this train of thought is that current stock prices are 'crazy' in ignoring the dire economic fundamentals, and that another crash is imminent when either a second wave of infections hits, or the mass bankruptcies in the economy come due. Stock markets will often act in ways counter to the consensus view of the majority of investors, as we are experiencing now.
The strongly held view of a second (and even a third) wave of infections coming is based on a historical sample of one: the 1918 Spanish Flu had a second wave which was much worse than the first one. Any statistician will tell you that such a sample size is of zero predictive ability. Sars had minor second waves in isolated locations that were far less lethal than the first wave.
Comparisons to 1918 also throw up all sorts of problems - World War I had just ended, and the world has made massive advances in medicine since then. Initial data is indeed pointing to possible second waves in Wuhan and South Korea, but governments around the world also have much more information compared to two months ago on the lethality of the virus, and are better able to assess the risks of opening the economy even in the face of higher infection rates. The highly feared situation of countries running out of hospital beds to help all the infected, which was considered a 'base case' by some epidemiologists, never came close to occurring, even in countries like Sweden which did not institute an economic lockdown.
Investors with a negative outlook are underestimating the capability of the world's medical research resources, which have been largely redirected towards finding a cure and vaccine for Covid-19.
What about the disparity between stock prices and the economy? Many major economic data points have literally gone off the charts in the negative direction. We have the largest ever monthly unemployment figures and the quickest fall in quarterly GDP. How can stock markets only be off their all-time highs by the equivalent of a mild correction?
We are continually reminded that stock prices follow GDP, but this relationship is wrong. If you could trade the stock market on perfect foresight about next quarter's GDP, you would lose out to the buy-and-hold investor. Quarterly GDP has a near zero correlation to stock market performance. Data actually shows that not only do stocks not follow changes in GDP, it's actually GDP that follows changes in stock prices. The ability of markets to look forward by six to 12 months is often misunderstood. Does the stock market have some kind of crystal ball that foretells the future? No. It merely aggregates all current knowledge far better than we humans can. It can sometimes overshoot, like at the end of bubbles and during panics, but these large excesses are quickly corrected. Instead of using GDP as an input to forecast future stock markets, current stock trends should be used as one of the inputs to forecast future GDP.
In times of very conflicting signals between the economy, investor consensus, and stock price action, it is useful to remember the following advice:
"The level of stress an investor feels is directly proportional to the amount of time spent agonising about how the stock market should be performing, versus how it actually is performing." When stock markets perform as we expect, there is no stress. When markets do the exact opposite of what we think they should be doing, and continue to do so for what feels like an eternity, we experience enormous stress. We do not know if we should be buying more, hold on to what we have, or sell now after the recent rebound, expecting a second crash. These questions are magnified for anyone who sold on the way down at levels below where markets are now and is missing out on the rebound.
During such times it is critical to objectively assess how much personal bias is influencing how we think the markets should be acting, as we are bombarded daily with news about the virus, and investment commentaries which are mostly negative or 'cautious'. Instead, since the stock market itself has predictive power and is also the determinant of our investment portfolio's profit and loss, we need to continuously and objectively assess the daily movements in relation to the news.
For example, one of the companies that is in the running for a Covid-19 vaccine is Moderna Inc, listed in the US. On Monday, US equities gained 3.1 per cent on news from Moderna that the tests of its vaccine "couldn't have been better". The next day, a respected medical journal website suggested that the Moderna announcement meant little. US equities promptly fell 1.3 per cent. This kind of market action, when more weight is placed on positive news than negative news, is not bearish and stands in stark contrast to current investor sentiment, which continues to be overwhelmingly bearish.
This daily monitoring and assessing of market action is a full-time job and a big contributor to one's stress levels, which is why most investors would always be better served by not selling in a downturn and remaining invested, or better yet adding more during downturns, at pre-determined prices that match their risk profile. (CW8888: Unless investors have larger war chest planning to fight more battles ahead of them since nobody will know when the War will end. But, those with no or too little war chest may try to rebuild war chest by recovering whatever they can salvage from the market) For ones determined to trade the markets, focus more objectively on what the market is doing now, rather than your idea of what it should be doing. If you do this well, you'll see hints of any actual deterioration in stock market action and can act accordingly.
The writer is co-founder of AL Wealth Partners, an independent Singapore-based company providing investment and fund-management services to endowments and family offices, and wealth-advisory services.
[HONG KONG] Hong Kong stocks tanked more than five per cent Friday after China's proposal for a new security law for the city sparked concerns about fresh protests in the financial hub and stoked further tensions with the United States.
The Hang Seng Index dived 5.56 per cent, or 1,349.99 points, to 22,930.14.
The benchmark Shanghai Composite Index fell 1.89 per cent, or 54.16 points, to 2,813.77, while the Shenzhen Composite Index on China's second exchange lost 2.02 per cent, or 36.22 points, to 1,752.42.
A SURVEY of just over 1,000 Singaporeans found that nearly half (46 per cent) expect their family to care for them in retirement. Nearly half (48 per cent) believe they would not be able to save enough to sustain their lifestyle in retirement. And, over half (57 per cent) say retirement planning is a source of stress. The survey by St James Place Wealth Management Asia (SJP Asia) highlights the challenges and inadequacy of retirement planning, even among younger people. The survey interviewed over 2,000 respondents in Singapore and Hong Kong in February and March. Only those between the ages of 25-54, who held personal investments in stocks, property, shares or funds were interviewed.
The respondents had annual income of between S$70,000 and over S$250,000. More than one in eight (13 per cent) expect to work past retirement age due to a lack of savings and two-thirds (66 per cent) were concerned about being a financial burden to those closest to them. The firm said the survey underscores the need for financial planning as people age, and particularly for millennials, whose generation may well be the first to earn less than their parents. More than half (56 per cent) of those who believed they would not have saved enough for retirement were between the ages of 25 and 40. SJP Singapore chief executive Gary Harvey said: "Our findings show that there are many prevailing expectations for Singaporeans in retiring, and that their retirement finances may generally only flow in one direction. Amid declining birth rates and an ageing population, there may be more difficult choices for families ahead." More than two in five (42 per cent) were unaware of how much income they would need in retirement. The median expectation was between around S$3,500 and S$5,000 a month, and over half believe they would need more than S$5,000. Many are prepared to make sacrifices to accommodate their retirement plans, including spending less on lifestyle services and travel, downsizing their home and reducing spending on family members. Around a third (32 per cent) say they plan to retire outside Singapore; Malaysia, Australia and Thailand were the most popular destinations. While the majority (84 per cent) have life insurance, only 38 per cent have made a will. The majority (72 per cent) of those who do not have life insurance are under 40. Mr Harvey said: "One of the greatest assets that the younger generation has on its side when either investing or saving for the future is time." However, as Covid-19 has demonstrated, potential crises are never far away. "It is important that people prepare for the unexpected and adopt good habits in starting financial planning early. By doing this, they can help to mitigate the impact of short-term financial headwinds and reap the full benefits over time."
Ready to poke at uniquely Singapore Koala/Panda retail investors in SGX? Somehow, this strategy is less mentioned by CPF 1M65 movement or CPF investment strategy advised by FAs. Becoming CPF Millionaire on barbell investment cash flow strategy with CPFIS after 55 Don't close your CPFIS after 55!
Wall Street logged its best day in over a month on Monday as news from a Moderna trial stoked optimism about a potential coronavirus vaccine. The Dow Jones Industrial Average closed 911.95 points higher, or 3.9%, at 24,597.37. The S&P 500 gained 3.2% to close at 2,953.91 while the Nasdaq Composite advanced 2.4% to 9,234.83. The Dow and S&P 500 both had their biggest one-day gains since April 6 while the Nasdaq posted its best rally since April 29. The S&P 500 also closed at its highest level since March 6. Small Boy STI follow Uncle DOW?
Read? When Warren Buffett Sours on Goldman Sachs, Time to Worry The crisis has spooked America’s forever optimist so much so that he’s fled the airline industry entirely, and now even certain automobile and banking stocks, according to a regulatory filing Friday detailing Berkshire Hathaway Inc.’s investing moves for the first quarter. This included dumping 84% of Berkshire’s stake in Goldman Sachs Group Inc. and reducing its JPMorgan Chase & Co. position by 3%. Buffett, 89, said proudly just two weeks ago that he thinks “nothing can stop America,” but it’s getting harder to believe him. Uncle8888 is looking forward to add more Panadols from Singapore local banks as Panda/Koala retail investor in SGX. When banks are sick then STI is dead! When STI is dead; then we have TemaSick to put them into sick bay to recover from COVID-19. Why scare? GE is near! MIW are not that dumb not knowing what to do!
Time in the market vs market timing? Mutually exclusive? Who is better off?
Uncle8888 has both data points for self debating and self proving! Freehold passive income vs fortune telling off TA charting? LOL! DBS XD $0.66 today and let see the difference! (1) Time in the Market 17 years of holding DBS since SARS and after Point X of collecting years of Panadols through market cycles; it becomes freehold position collecting passive income for many years to come unless DBS is the next Lehman Brother.
(2) After some Time in the Market and then timing the Market DBS was last sold on Mar 2017 and DBS shot up to the highest at $30.98. Bang head big time! Read? DBS : Sold @ $19.38
Three years later in Mar 2020, COVID-19 gave another chance for Timing the Market and prove it with data points
"The general who wins a battle makes many calculations in his temple before the battle is fought. The general who loses a battle makes but few calculations beforehand. Thus do many calculations lead to victory, and few calculations to defeat; how much more no calculation at all! It is by attention to this point that I can foresee who is likely to win or lose." - Sun Tze
We don't know what Market is doing NEXT - Up or Down; but we can know ourselves and then plan what we will be doing next. That is within our control - 3Ms!
Last updated : 14 Sep 2019
I am 63 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children.
Currently, two sons and one daughter are working.
I have been doing 20 years of long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that so-called Panda or Koala in the investment world.
I am currently executing my Three Taps solution model to maintain sustainable retirement income for life till 2041 @ 85 yrs old.
Disclaimer: Stock trading involves significant risks. Create Wealth trader is not a licensed Investment Adviser and will not be responsible for any losses which you incurred. You are advised to always do your own homework before making any trading decision.