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Tuesday, December 02, 2008

Why do people presume that investment banking will never come back? Why do they presume that there will never be more use for a place like Goldman Sachs? Why do people openly question that they can ever make a profit again or that their book value is a total lie?

Do people think there is a secular decline in all financing, and that we are done forever raising money?

Do people think we are done merging?

Do they think we are done issuing municipals?

Do people think we are done with trading corporate debt?

Do people think we are done with lending money against stock? That's it?


Monday, November 03, 2008

For the past few years, I have been living in disgruntle from some wrong decisions which I have made. Mainly the Electrical Engineering Degree which I have taken. To start with, all the promised talks about having value-add that an engineer can give to the society and whatever pitch talks of "The best goes to engineers", turn out to be blatant lies.

While my peers in Finance industry can probably predict a 6 figure salary in 2,3 years time, I see experienced "PROFESSIONAL" engineers struggling to hit 50, 60k. You can't blame society for that. People in finance, bring in the money directly. Engineers do not bring in the money for you. Engineering is all about safety, which equates cost, hints liability. People don't pay you for saving their lives when they aren't dead yet but you don't mind giving you a slice of the pie if you can make them richer directly.

And one more thing which I feel I should do for society and namely, kiddos still in school. Spread the word, engineering sucks as a career. Please, unless you are some academic geek who wouldn't mind having your fortune capped by some research fund, I advise you to ply your trade elsewhere. For anyone who is thinking about switching from engineering, grab your balls that you left down the hall and just DO IT.

Spend long hours reading a useless Physics book that teaches you nothing that can be used in real life. OK WE ALL KNOW THAT A BALL FALLS IF WE LET GO, HOW MANY PAGES DO YOU NEED TO EXPLAIN THAT? Not to mention the useless math, triple integration; you wont find that at the cashiers. Whereas business students don't study, party all day, and after a few years get paid more than engineers.

One of the courses required for an engineering degree is Engineering Economics. After analyzing the cost to obtain a degree in Engineering compared to the actual salary, it is easy to see that it is a very bad investment. Take Engineering Economics first and run the numbers. If I had I would have changed my major.

All I know for myself, is that I always have a hunger to succeed, although I have been pretty lost for the past few years. And I intend to do something about it. How I will go about doing it, I don't intend to disclose at this point in time. I may not be guaranteed success, but it sure beats rotting under the piece of toilet paper that has "Bachelor in Electrical Engineering" on it.


Wednesday, October 22, 2008

"You fucking stupid business guy. I went to IIT Ahmedabad and got my master's degree in Computer Engineering and now this is what I am doing! I am ten thousand times smarter than you. You are eating my head, mule! Just wait until I get into the Business side of Banking, sister-fucker. Then you'll see!"

That's what the online translator gave me when I sent in a recording of what my IT guy was muttering under his breath while reinstalling Windows on my laptop.


Wednesday, September 17, 2008

四 大 情 況 政 府 必 救

【蘋果日報】九月十七號

點 解 上 次 救 , 今 次 唔 救 ? 究 竟 Bear Stearns 同 雷 曼 兄 弟 分 別 邊 ?如 果 你 係 銀 行 話 事 人 , 點 樣 逼 政 府 救 你 。

第 一 , 搞 大 佢 。 唔 係 淨 係 危 害 自 己 間 行 , 一 定 要 危 害 整 個 世 界 金 融 業 。 廢 廢 係 唔 足 夠 , 只 摧 毀 自 己 間 行 話 , 就 會 冇 人 救 你 。 一 定 要 定 個 能 夠 摧 毀 全 球 金 融 業 位 , 一 定 要 廢 到 累 街 坊 。

第 二 , 搞 唔 得 大 , 就 要 爆 先 。 如 果 雷 曼 爆 先 過 Bear Stearns , 可 能 結 果 已 掉 轉 。

第 三 , 一 定 要 挾 持 重 要 對 手 做 人 質 。 Bear Stearns 有 9 萬 億 美 元 衍 生 工 具 交 易 , 淨 係 JP Morgan 一 個 對 手 , 已 佔 四 成 。 所 以 當 時 人 話 JP Morgan 救 Bear Stearns , 其 實 係 救 自 己 。

第 四 , 一 定 要 危 害 到 大 眾 市 民 每 日 經 濟 活 動 。 按 揭 、 私 人 貸 款 、 信 用 卡 財 務 very good 。 借 錢 畀 甲 級 寫 字 樓 發 展 商 , 冇 咁 有 用 。

AIG 學 以 致 用

根 據 以 上 四 個 訓 , 如 果 你 真 係 一 個 金 融 機 構 管 理 層 , 咁 就 要 好 好 學 習 。 因 為 已 經 有 金 融 機 構 學 以 致 用 , 佢 就 係 AIG 。
講 真 , AIG 真 係 好 似 一 個 幼 稚 園 老 師 , 身 上 綁 起 炸 藥 , 走 入 充 滿 小 朋 友 班 房 , 用 電 話 同 世 界 各 國 父 母 講 數 。 大 家 應 該 有 心 理 準 備 , 政 府 唔 救 AIG , 班 小 朋 友 會 一 鑊 熟 。


Tuesday, August 12, 2008

Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.

- Mark Twain



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