I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Friday, 15 October 2010

Client sues SocGen over his 'missing millions' here

Createwealth8888: In forex, losses can be really huge due to its nature of high leverage being used


Read? Investor to pay $1.6M to bank after losing lawsuit.

By GRACE LEONG


(SINGAPORE) For years, two relationship managers assured a client that his investment portfolio was doing well and that he had a balance of around $8 million in his account.

In fact, the net value of the investment account stood at only $252,652 on Aug 12 this year. The rest had been frittered away by the relationship managers at Societe Generale Bank & Trust in Singapore because of alleged unauthorised forex trades, according to a lawsuit filed at the Singapore High Court yesterday.

To cover up the losses, they fed the client with bogus statements, the lawsuit claimed.
Posted by Createwealth8888 at 21:22
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