Wednesday, January 23, 2008

Argh.... Why Does Lulu Have To Tolerate Idiots Handling Her Retirement Money?

Despite growing concerns that the US economy is moving into a recession, Second Finance Minister Tan Sri Nor Mohamed Yakcop is confident Malaysia would remain resilient as it has multiple export nations. He thinks the US recession will have minimal effect on us. *roll eyeballs*

And this same idiot sees the tumble on KLSE as providing a good opportunity for Malaysian funds to pick up some attractive stocks.
"Our market has dipped somewhat in the last few days, including today, but we have big funds with income all the time like the EPF (Employees Provident Fund) and others,"
"This is a very good opportunity, given our strong fundamentals, for Malaysian funds to begin picking up some of the stocks because many of them are now really underpriced or very attractive in terms of pricing."

Even a lulu like Lulu can tell you that this is only the beginning of the tumble.
Think about it.
KLSE usually rallies before Chinese New Year.
KLSE usually rallies before the General Elections.
Two great reasons for a rally
and yet, the composite index is dropping.

And this idiot is talking about using our EPF money NOW to buy shares. *roll eyeballs*
can't he wait till the market bottoms out?

Lulu also fears that the money is used to buy shares of companies held by UNNO cronies to help them make a profit / cut their losses at our expense.

This is the same idiot whom if you do a search on Mohamed Yakcop bank negara forex loss, you would learn a lot about his successful investments.

Lulu's not rich. Lulu's EPF money is going to be used to fund her expenses when she retires.
Lulu's now very concerned that her hard earned money is going to be used by idiots to make the KLSE look artificially good till the run up of the General Elections.

Argh.....! Is there really nothing Lulu can do about it?
Is Lulu supposed to just sit here and wave her retirement money bye-bye?
Can someone offer Lulu some words of comfort... and maybe some cash too?

5 comments:

Anonymous said...

*roll eyeballs*
What do do expect from an overgrown chimpanzee whose currency speculation scandal in the early 1990s caused Bank Negara to hilang up to RM30 billion?
*bat eyelash*
http://en.wikipedia.org/wiki/Nor_Mohamed_Yakcop

Sharing said...

10pots with 9 lids covers all 10 not at the same time!
MPF has at least 20 corporations as lids to go!
When an oil production country is pressing personal income tax and more license to pay, if it is not broke, at least cash flow is under test!
If payment of EPF on schedule to be by queue, something is wrong!
If remedy by gambling, more will go wrong!
Pray to Allah or God or Both!!

mob1900 said...

The 2nd or 3rd F. Minister is actually telling the 'truth', when he said 'picking underpriced stocks', he probably meant our FDI will be going down since foreign fund managers are going to US to 'pick underpriced stocks' there by pulling funds out from here!

what a contradiction, Yaacob, go back and count your pebbles-lar.

Pearls said...

Well, word of comfort is not to depend too much on your EPF to grow old... Think of EPF as extras...

Save on your own and make your own investments and hopefully, you will do better than EPF...

What else? Marry a rich man and manja him to give you a fat allowance every month lo. With this allowance, you quiet quiet go invest and make yourself rich lo..

Anonymous said...

The "AH Meng" in Singapore just died, maybe he can go as a replacement. We can jolly well pay in bananas.