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[quote]原帖由 [i]peninsula[/i] 於 2007-7-14 05:44 PM 發表

Only $250K. I thought $3,500K.:givemefive::P:lol:hamsup:

By the way, what is the O/D rate?:wondering::o [/quote]

It was $350K, not $250K, but I wanted less but they won't let me. It's for standby credit and IPO only.

I was pissed and walked away and they shredded the paper I signed.  They quoted me P-2% = 6% on the phone.  I signed the document.  It said first 6 months P-2%, after that P+1%.  I told them that with my today's background, this is like borrwing from a loan shark.   Banks lining up to lend me money at 6%.

Left, pissed, had a breakfast, and went back.  OK.  I use it seriously for 6 months and try to earn serious money with IPO, then only use it as standby. I don't want the girl who sold me this to get into trouble. Well, it's a kind of 發財立品 although seriously I am nowhere near 發財.  And I get free overdraft until Aug 31.  But then this girl at the branch is really nice and she sold me the ELN and I am one that's dead against it but shit, who cares, I am using their money.

[[i] 本帖最後由 dejavu2003 於 2007-7-14 17:55 編輯 [/i]]

[quote]原帖由 [i]dejavu2003[/i] 於 2007-7-14 17:54 發表
It was $350K, not $250K, but I wanted less but they won't let me. It's for standby credit and IPO only. [/quote]
Sorry - $250K was a typo. Yes, people always offer O/D or standby facilities but I have never shown much interest. For IPO, you mean to utilize the #350K to borrow say $3,150K (10% capital)?

With your current net worth, the banks should be lining-up to offer you funding.:lol:givemefive::D:P:hamsup:

[quote]原帖由 [i]peninsula[/i] 於 2007-7-14 06:00 PM 發表

Sorry - $250K was a typo. Yes, people always offer O/D or standby facilities but I have never shown much interest. For IPO, you mean to utilize the #350K to borrow say $3,150K (10% capital)?

W ... [/quote]


Yes. that's the idea.  To borrow another $3.150K.  

Wrong.  One bank even rejected my credit card application even though they approached me.  I had a mortgage with them, I had spent $350K in the last 12 months on their co-brand credit card and paid every time before it was due.  Yet they don't like my credit.  I was pissed.

I asked for a copy of my TranUnion credit report and it was like a book.

Probably my monthly loan repayments of over $100K didn't help.  But @ 3.9% & 4.8% interest, how can one resist.   I am not worried but the bank does.  They have no idea.

[quote]原帖由 [i]dejavu2003[/i] 於 2007-7-14 18:19 發表
Yes. that's the idea.  To borrow another $3.150K.  
Wrong.  One bank even rejected my credit card application even though they approached me.  I had a mortgage with them, I had spent $350K ... [/quote]
So you have a big mortgage? I have paid-off mine late last year, basically debt-free. Also sold some Australian properties to take advantage of the very strong AUD. To further diversify, I have invested in several open-end funds and they turned out to be really good (most, not ALL).:lol:o:beer::givemefive:

[quote]原帖由 [i]peninsula[/i] 於 2007-7-14 06:23 PM 發表

So you have a big mortgage? I have paid-off mine late last year, basically debt-free. Also sold some Australian properties to take advantage of the very strong AUD. To further diversify, I have i ... [/quote]


I do have a (not big) mortage.   I am seriously in debt..... and I am not worried.  They are short term loans anyway.

[[i] 本帖最後由 dejavu2003 於 2007-7-14 22:12 編輯 [/i]]

[quote]原帖由 [i]dejavu2003[/i] 於 2007-7-14 18:26 發表
I do have a (no big) mortage.   I am seriously in debt..... and I am not worried. [/quote]
As long as those debts can be liquidated with profit, there are no risks for sure. :lol;P:P:D

[quote]原帖由 [i]peninsula[/i] 於 2007-7-14 07:50 PM 發表

As long as those debts can be liquidated with profit, there are no risks for sure. :lol;P:P:D [/quote]

Wonder how one can liquidate a DEBT with profit. :wondering::wondering: I can only hope to liquidate an asset with profit.

2020 一路向下，好驚

add oil to anta yeah

[quote]原帖由 [i]dejavu2003[/i] 於 2007-7-14 23:03 發表
Wonder how one can liquidate a DEBT with profit. :wondering::wondering: I can only hope to liquidate an asset with profit. [/quote]
What I meant was to sell your assets, pay off debts and take the profit (if any) for other investment purposes.:P:hamsup:;P:o:oh:

[quote]原帖由 [i]go2wetdream[/i] 於 2007-7-15 12:26 發表
2020 一路向下，好驚 [/quote]
No worries. I will buy on weakness.:soldier::quiet::lookaround:

Guys, just back to Hong Kong and see this thread.  Try Hang seng bank online service.  They allow auction order until 09:49:59.  This is how, as said by dejavu2003, make money almost from nothing.

[quote]原帖由 [i]Sharp902[/i] 於 2007-7-16 10:13 AM 發表
Guys, just back to Hong Kong and see this thread.  Try Hang seng bank online service.  They allow auction order until 09:49:59.  This is how, as said by dejavu2003, make money almost from nothing. [/quote]


Today, I went out to a breakfast meeting and missed another rare opportunity.  One of my usual targets - #685.

[quote]原帖由 [i]dejavu2003[/i] 於 2007-7-16 11:48 發表
Today, I went out to a breakfast meeting and missed another rare opportunity.  One of my usual targets - #685. [/quote]
BUY or SELL?:wondering::o

[quote]原帖由 [i]peninsula[/i] 於 2007-7-16 12:32 PM 發表

BUY or SELL?:wondering::o [/quote]

Sell, of course.

[quote]原帖由 [i]dejavu2003[/i] 於 2007-7-16 11:48 發表



Today, I went out to a breakfast meeting and missed another rare opportunity.  One of my usual targets - #685. [/quote]


Can you share with us how you usually search for targets for auction trade?  Wanna learn from you.

[quote]原帖由 [i]Sharp902[/i] 於 2007-7-16 04:15 PM 發表



Can you share with us how you usually search for targets for auction trade?  Wanna learn from you. [/quote]

Sorry if I had made this sound like rocket science.  There's no myth nor technique in there.  And I don't particularly search for targets as my daily routine.  I just go thru my portfolio members quotes during the pre-opening session and once in a while, I found some anomalies and I acted on it.  Everyday there will be some opportunities somewhere, but within such a short period of time, one cannot go thru so many stocks, nor does one have enough knowledge of every stock to make a judgment if the quoted price is off from the fair price or not.  

#685 just happened to be one of my old portfolio members and I saw the announcement of the annual results over the weekend and it sucks.  If I were to see someone bidding 100K shares @ $2.10 which is Friday's close and near the near term high, I would have put in an at-auction offer and be able to buy back @ $2.00 at 10:05 am.  Of course, you need a broker who trust you so that you can sell short.  This might be a bad example of preying on a wrong pricing.  Someone might just genuinely want to buy @ $2.10.  I have seen cases where I am sure people put a bid of say +10 while they intended to put an offer of +10 and were not aware of it until too late.

The only pre-requisite of such target is that it must be a 2nd or 3rd liner with which an inefficient market exists.

[[i] 本帖最後由 dejavu2003 於 2007-7-16 22:33 編輯 [/i]]