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Showing content with the highest reputation since 06/24/2018 in all areas

  1. 2 points
    Well, there are a few other factors you may want to take into account: 1) EPF board has some industry/union, non-governmental representatives to hopefully provide some additional oversight. TH has none. 2) The EPF Act guarantees the contributor's principal as well as a 2.5% dividend per annum. So the government can always print more ringgit to give you back your nominal investment. (yes I know this is not exactly the most comforting thing). 3) EPF's actual investment returns are higher than the declared dividend. The balance of the returns are kept as reserves against fluctuations in investment value. Of course the recent MYR devaluation has also helped their foreign investments show leveraged returns in addition to the typical equity appreciation + dividend. 4) EPF has the advantage of being able to invest in the entire universe of investment assets whereas TH is restricted to syariah compliant instruments. Regardless of actual performance/characteristics of syariah compliant assets, this does restrict potential opportunities as well as increase cost of compliance. 5) EPF's liability/asset ratio is much healthier at circa 6% compared to TH's (official) 50%. 6) EPF actually restricts non-salary contribution amounts. Not a typical Ponzi scheme characteristic, you'd think they would encourage more contributions rather than less. Clearly they recognise it's a tough job managing that much cash. They also allow withdrawals once your individual total EPF holdings has exceeded RM 1mil At the end of the day you will always have imperfect information as an outsider. But there's not a lot you can do about it...... I do know someone who uses EPF as a government guaranteed fixed deposit replacement.
  2. 1 point
    I wasn't so optimistic. Today, I attended the BFM Enterprise Rocks convention. https://www.eventbrite.com/e/bfm-enterprise-rocks-2019-tickets-54841965796# What surprised me was how smart the people there were. You see, ever since I left university, I am left puzzled at how dumb the general population is. All I saw left and right were dumb people. But today, it felt like being at uni again. The panelists are almost supernormal beings. I didn't know people like that existed, and am surprised they are congregated today right in front of me. The founder of Ben's Grocers (I forgot his name), Ming Thein, the "agency boy" who founded Tarik Jeans, the founder of Kinder Soap, etc. Except perhaps Ming Thein who is like a thing which dropped in from a different realm (completed his Theoretical Physics studies at Oxford at 16), you'd think the others are just regular folks who founded microbusinesses. They are in fact shockingly smart. Even the audience was special since they asked thoughtful, intelligent questions. The founder of Oxwhite was in the audience. The investors in Ming Watches (Ming Thein's watch brand) were there too. "6" was there too. All kinds of CEOs, CFOs, and CMOs. It was a high calibre audience. The moderators are the presenters of BFM Radio: Fredda Liew etc. The conference expanded my views on business, but the greatest takeaway was this: I noticed the panelists kept talking about how dependent they are on their "great team". It surprised me because I am pretty sure their teams are very mediocre by any objective standard. What sort of "great" people work in grocery retailing? Really? What kind of great people take on supporting jobs in a local jeans startup by the name of Tarik Jeans? The people who do admin work in an artisanal soap company that is only begrudgingly a company? Great people do not do those jobs. It occured to me that it is because of their delusion of how great their teams are that they HAVE teams. If you do not hold those who work for you in high regard, they eventually sense this and will leave. And undeniably, it is better to have a mediocre team that you delusionally regard as a great team than to have no team at all. So Jeremy: Have a team. Try not to look too hard at their staggering weaknesses. Convince yourself this is a great team. Then, you will have a team. It is the only way to win.
  3. 1 point
    You'd think by now I'd just be looking at the ledgers, like how some chefs no longer actually cook after giving their names to an international string of restaurants. Jajaja, so what am I doing with shears and cloth? I'm solving real problems for real people! Overweight people have thighs that rub against each other when they walk. This abrasion quickly destroys trousers, as you can see above. Below a certain BMI, such a thing simply never occurs. It only took me eight years to come up with this solution: A sacrificial barrier in the same cloth or a similar cloth slip stitched to the crotch. When this patch of cloth wears out, it is removed and replaced with a new patch. I've never seen anyone do this solution. It's an original JT solution.
  4. 1 point
    After all that has happened, after all the revelations...half of Semenyih voted for one of the most corrupt political parties in modern history. Corruption is not just a political thing. All of humanity is corrupt.
  5. 1 point
    Yes. Uncles are really the only mass demographic that has the spending power for your products.
  6. 1 point
    Moonwatch. 42mm. Almost brand new. Customer's.
  7. 1 point
    Nice to see the darlie man pursuing his passion of dance (and fine tailoring)
  8. 1 point
    A surprisingly nice Longines World Time GMT automatic belonging to a customer. 38.5mm, but astonishingly wearable, like a 36mm. The entire watch feels like a smooth pebble. On the rear, you get a very satisfying view of the large-diameter decorated movement. Unexpectedly nice.
  9. 1 point
    Anwar's jacket is fully canvassed and very, very high grade. Can you tell? Najib's, too, is fully canvassed.
  10. 1 point
    It's amazing just how polished Tom Ford is. His mannerism, his voice, etc.
  11. 1 point
    Well, due to lack of data it's a bit hard to pin down, especially for the 97-98 crisis. The website only provides the annual reports from 2001 onwards, and other financial market data is tough to come by. For all I know they could have shorted the Malaysian market in 97. Essentially what could have happened was profit taking on the bond portfolio in 2008. BNM cut interest rates from 3.5% to 2% as economic stimulus. This could have pushed up the prices of the bond portfolio by a good 10% on 10 year bonds and all EPF would have needed to do is sell some to realise the capital gain. (Dividends are based on realised gain). As you pointed out, the majority of EPF funds was and still is in bonds/fixed income, so smart profit taking on a small portion of the large bond port would be enough to offset the (likely unrealised/unimpaired) loss on the equity port. The biggest hole in this argument is of course how the realised and unrealised gains/losses are taken into account when determining the profit and hence dividend. Accounting standards have changed hugely in the last 20 years, especially since the GFC, so methods could have changed over time. Also, choosing when to impair assets (recognizing a permanent loss of value) is largely a management decision. So in theory, what they could have done during crises is 1) not impair the equity port 2) sold down the bond holdings, thus inflating the 'profits'. But this type of manipulation of profit numbers is still within the rules of the game.....
  12. 1 point
    I once went to a friend's house, a Malay dude with a Japanese wife, in their early 50s. As I was searching the kitchen cupboards for sugar, I came across this ~1.5L jar which was 90% empty, thinking it was sugar. It was actually MSG. This got me thinking...the Japanese, despite their obsession with umami, also have the highest life expectancies. No claims here; just an observation.
  13. 1 point
    Somebody who works with American & Efird contacted me about a suit. I really hopes he comes because they make great threads and I need to figure out how to buy it from them. It is ridiculously difficult to source great threads. All you get locally is spun polyester.
  14. 1 point
    A better view of the machine-sewn swelled edges. Swelled edges are more than just that line of machine sewing or pick stitching that makes the edges appear chunkier. They're also about what you do with the seam allowances. With regular jackets, the two seam allowances (one from the facing, the other from the forepart) are feathered, i.e. they have different widths to give the gradual transition. With swelled edges you want an abrupt transition, so both seam allowances are identical in width.
  15. 1 point
    This morning, the above and his spouse each left a one-star rating on my Google page. He so succinctly and comprehensively described my ideal customer profile. Perhaps I should have been less coy about it. In the future, I may just do a phone screening. Customer: I want appointment. You free later today? JT: Did you send your CV earlier? We require that before we can grant you an appointment. Customer: CV? I'm not asking for a job. Anyway, I'm an assistant MD. JT: You mean like a PA? We don't really take those in. Customer: You don't understand. The MD is my father. JT: Are you second or third generation? Customer: Third. My grandfather started the company. JT: Good. We don't take in second generations. Too parsimonious. What's the revenue like? Customer: Huh, what? Like 36 million last year. JT: Ah. We only do above 200 mil. When you reach that, give us a call. Thanks, bye.
  16. 1 point
    https://garage.vice.com/en_us/article/7xdv9x/michael-anton-styleforum How a Menswear Troll Became a Trump Administration Insider National Security Council spokesman Michael Anton's 40,000+ posts on menswear message board Styleforum tell us a lot about the people who work for the president.
  17. 1 point
    True, although a navy blazer could arguably work for the latter situation and look just as good. Plus it can be worn indoors (can as in it looks right - there's of course nothing stopping you from keeping your peacoat worn indoors although that's a rather HK look). When I was in uni, my "hops from home" garment was played by a barbour. Seems to be the thing in the UK, with a gilet added when extra cold. I think the main issue I have with a peacoat versus a blazer is the former should be taken off indoors, exposing a sweater or shirt, which doesn't look quite as put together as a blazer over a sweater or shirt
  18. 1 point
  19. 1 point
    Daim's watch should be the ref. 16200. For many people in the 90's a superlative everyday watch.
  20. 1 point
    Having that paperwork is so cool. Its in rather good condition considering its age. My father first entered the workforce in 1979. He said he made a whopping M$300 a month. A post in 2014 which analyses the retail price growth of a Submariner over time. https://www.ablogtowatch.com/rolex-prices-past-60-years-revealing-analysis/ Would be nice to be able to somehow measure relative affordability of a Rolex model over time. Would probably need inflation data, retail prices, and average wage data over time.
  21. 1 point
    But a solid yellow gold day-date is part of the plan. This two tone is a warm-up to it.
  22. 1 point
    The Bergeon 7825. The proper tool to mount and unmount watch bracelets. Surprisingly expensive, but it is made to the level of, say, surgical equipment.
  23. 1 point
    Jajaja. A very handsome gateway watch indeed. I think the 34mm suits you well, you could even do a 32mm I reckon. This is probably closer to the watch which summited Everest on the wrists of Tenzing/Hillary compared to the “explorer” tagged models. Perhaps if you ever fancy a sports model, you can look into Rolex bubblebacks. Or a Tudor mini sub , both are within this size range. But I think for someone at the pinnacle of their craft such as yourself - a Gold Rolex, or a Rolex Pre-Daytona chrono with a Valjoux 72 movement. Speaks of a man who only needs to answer to himself.
  24. 1 point
    Ref. 6480. 34mm. Hand winding. With an Oyster case i.e. screw in back and screw down crown. Dates from the 1950's. Crumbly lume that no longer functions as lume, case polished 5X, and had five prior owners four of whom are dead. "6" are you happy for me?
  25. 1 point