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dejavu2003

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註冊時間: 2003-5-28

101^# 大中小發表於 2007-7-14 17:54 只看該作者

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原帖由 peninsula 於 2007-7-14 05:44 PM 發表

Only $250K. I thought $3,500K.

By the way, what is the O/D rate?

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.

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

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peninsula

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102^# 大中小發表於 2007-7-14 18:00 只看該作者

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原帖由 dejavu2003 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.

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.

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dejavu2003

元老用戶組

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帖子: 2114
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103^# 大中小發表於 2007-7-14 18:19 只看該作者

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原帖由 peninsula 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 ...

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.

相關搜索目錄: Credit card

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peninsula

元老用戶組

Rank: 6 Rank: 6

帖子: 27276
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註冊時間: 2003-4-1

104^# 大中小發表於 2007-7-14 18:23 只看該作者

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原帖由 dejavu2003 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 ...

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).

相關搜索目錄: Credit card

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dejavu2003

元老用戶組

Rank: 6 Rank: 6

帖子: 2114
積分: 11383
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註冊時間: 2003-5-28

105^# 大中小發表於 2007-7-14 18:26 只看該作者

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原帖由 peninsula 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 ...

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

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

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peninsula

元老用戶組

Rank: 6 Rank: 6

帖子: 27276
積分: 118217
金錢: 43114
性別: 男
註冊時間: 2003-4-1

106^# 大中小發表於 2007-7-14 19:50 只看該作者

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原帖由 dejavu2003 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.

As long as those debts can be liquidated with profit, there are no risks for sure.

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dejavu2003

元老用戶組

Rank: 6 Rank: 6

帖子: 2114
積分: 11383
金錢: 1892
註冊時間: 2003-5-28

107^# 大中小發表於 2007-7-14 23:03 只看該作者

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原帖由 peninsula 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.

Wonder how one can liquidate a DEBT with profit.

I can only hope to liquidate an asset with profit.

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go2wetdream

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108^# 大中小發表於 2007-7-15 12:26 只看該作者

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2020 一路向下，好驚

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ngaiso

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109^# 大中小發表於 2007-7-15 14:19 只看該作者

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add oil to anta yeah

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peninsula

元老用戶組

Rank: 6 Rank: 6

帖子: 27276
積分: 118217
金錢: 43114
性別: 男
註冊時間: 2003-4-1

110^# 大中小發表於 2007-7-16 09:12 只看該作者

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原帖由 dejavu2003 於 2007-7-14 23:03 發表
Wonder how one can liquidate a DEBT with profit. I can only hope to liquidate an asset with profit.

What I meant was to sell your assets, pay off debts and take the profit (if any) for other investment purposes.

相關搜索目錄: Investment

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peninsula

元老用戶組

Rank: 6 Rank: 6

帖子: 27276
積分: 118217
金錢: 43114
性別: 男
註冊時間: 2003-4-1

111^# 大中小發表於 2007-7-16 09:13 只看該作者

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原帖由 go2wetdream 於 2007-7-15 12:26 發表
2020 一路向下，好驚

No worries. I will buy on weakness.

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Sharp902

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112^# 大中小發表於 2007-7-16 10:13 只看該作者

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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.

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dejavu2003

元老用戶組

Rank: 6 Rank: 6

帖子: 2114
積分: 11383
金錢: 1892
註冊時間: 2003-5-28

113^# 大中小發表於 2007-7-16 11:48 只看該作者

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原帖由 Sharp902 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.

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

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peninsula

元老用戶組

Rank: 6 Rank: 6

帖子: 27276
積分: 118217
金錢: 43114
性別: 男
註冊時間: 2003-4-1

114^# 大中小發表於 2007-7-16 12:32 只看該作者

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原帖由 dejavu2003 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.

BUY or SELL?

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dejavu2003

元老用戶組

Rank: 6 Rank: 6

帖子: 2114
積分: 11383
金錢: 1892
註冊時間: 2003-5-28

115^# 大中小發表於 2007-7-16 12:51 只看該作者

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原帖由 peninsula 於 2007-7-16 12:32 PM 發表

BUY or SELL?

Sell, of course.

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Sharp902

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116^# 大中小發表於 2007-7-16 16:15 只看該作者

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原帖由 dejavu2003 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.

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

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dejavu2003

元老用戶組

Rank: 6 Rank: 6

帖子: 2114
積分: 11383
金錢: 1892
註冊時間: 2003-5-28

117^# 大中小發表於 2007-7-16 22:28 只看該作者

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原帖由 Sharp902 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.

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.

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

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