Tuesday, March 28, 2006
Be an equity portfolio manager?
Tonight the FOMC, Federal Open Markets Committee of the US Federal Reserve Bank will meet in Washington under the new chairman, Bernanke, to decide on whether to raise the discount rate by 25 basis points to 4.75%. The outcome of a ΒΌ% increase is largely expected and market participants will be scrutinizing every English word to read for nuances and hints of future policy stance and impact on financial markets. Ha ha now u noe why English is important.
Currencies, bonds, commodities and stocks are all waiting to react to the post meeting announcement which will be early Wed morning our time.
Talking bout currencies our Singapore dollar has been strengthening recently. So for example, for those going to Australia it's now 1.15, New Zealand 0.98 and US 1.62. It's getting cheaper to go to these countries!
Had lunch with a colleague from India who is leaving to set-up an Asian equity fund and this is how he attracts talent. Base pay S$200,000 p.a., guaranteed bonus 6 mths, so total $300,000 plus, this is the real attraction, share of profit if return exceeds 8%. Firm gets 20% share over 8% return. Fund size US$300 to $500 million. All ye math wizards can figure out the potential payouts. So, wanna be an Asian equity manager? Oh mustn't forget the food part. He tells me this shop next to Lau Pa Sat serves authentic nasi brani; where the rice and herbs are cook together with the chicken or lamb; not separated to get the flavours. Verdict? Not bad but cannot finish, Ha ha.
Currencies, bonds, commodities and stocks are all waiting to react to the post meeting announcement which will be early Wed morning our time.
Talking bout currencies our Singapore dollar has been strengthening recently. So for example, for those going to Australia it's now 1.15, New Zealand 0.98 and US 1.62. It's getting cheaper to go to these countries!
Had lunch with a colleague from India who is leaving to set-up an Asian equity fund and this is how he attracts talent. Base pay S$200,000 p.a., guaranteed bonus 6 mths, so total $300,000 plus, this is the real attraction, share of profit if return exceeds 8%. Firm gets 20% share over 8% return. Fund size US$300 to $500 million. All ye math wizards can figure out the potential payouts. So, wanna be an Asian equity manager? Oh mustn't forget the food part. He tells me this shop next to Lau Pa Sat serves authentic nasi brani; where the rice and herbs are cook together with the chicken or lamb; not separated to get the flavours. Verdict? Not bad but cannot finish, Ha ha.
// posted by sleepless wherever @ 5:03 PM 
