Archive for May 2006
Sell in May..
An old stock market saying goes: sell in May and go away. Well, it seems to hold true for the battered markets in Asia over the past 2 weeks. Those who traded with a little too much leverage paid with their savings, sums which could buy a car in Singapore.
No matter how one looked at May, it was certainly a month to remember. For me, it was a great opportunity to learn, and network with other like-minded folks as we witnessed the carnage around us, and see how emotions affected rational judgement.
A new manager and new colleagues will join me in June as the bank completed its first phase of restructuring in order to improve our market niche. Singapore has recently also awarded its Marina Bay casino license to Las Vegas Sands.
On retrospect it has been a difficult month to concentrate on work at hand, with the restructuring going on, and the continuous fall in the markets occupying most of my attention.
School holidays has just begun and with the World Cup just around the corner, it doesn't look about to get any easier. Hopefully things will improve.
