Spend what’s left after saving, not vice versa’

Spend what’s left after saving, not vice versa’

With such a tough upbringing, it is no wonder entrepreneur Teh Li Rong has never been intimidated by hostile workplaces or the risk of going it alone in business. "Family lifestyle was simple and thrifty," the 33-year-old recalled. "Back then, my grandmother and auntie helped out with some of our education expenses. A Always spend within your limit, and make your spending decisions within your capacity and face reality. When an investment looks too good to be true, it probably is. Do not invest until there is appropriate investor protection in place and you have done your due diligence. I have seen how much hard work he put in and eventually succeeded, and gave back to society by providing jobs. That drive to achieve financial independence led her into a career as a derivatives trader after graduating with a bachelor's degree in business management from Singapore Management University in 2007. A I used to be much more aggressive in my investing style during my earlier days as I was young and single then. I had more time to sit in front of the screen, analysing, executing and monitoring my trades. Now that I have a family with two children, I adopt a much more conservative and longer-term trading approach. As a trader is experiencing swings every day, if the heart is not strong, the trader will not last. Maintaining a positive attitude and focus, together with equal doses of perseverance, patience, hard work and guts, have led me to success. I save about 50 per cent of my monthly income and channel it into other investments and savings towards asset classes that have lower yield but are more stable. Ms Teh navigated the intimidating male-dominated environment and became adept at trading via instruments like commodity and index futures and options. A The spirit of JiojioMe is embedded in the name itself as "Jio" literally means "to ask or invite someone out" in Hokkien dialect. The app has partnered with more than 600 merchants and establishments to give users exclusive promotions and perks at their fingertips, and we target to grow to 4,000 partners with 1.5 million users by this year. With JiojioMe, you can post the activity and the app will help you find like-minded people to join you. With more offline interactions, this creates a win-win situation for users as well as the merchants and establishments. JiojioMe was officially launched here and is expanding to Malaysia, Thailand, Indonesia, Japan and South Korea. She also became skilful in developing and executing complex strategies involving systematic and high-frequency trading, arbitraging and directional trading. A My portfolio is 35 per cent in properties, 30 per cent in liquid funds, 5 per cent in equities, 10 per cent in businesses, and 20 per cent in managed funds and insurance. Actively investing into JiojioMe and looking out for other businesses to invest in and also managing funds from my own trading. But Ms Teh had bigger goals in mind and struck out on her own in 2011 to found Star Financials with a six-figure sum. A I do not intend to retire and will continue to earn both active and passive income to sustain my current lifestyle and for my kids' education. I plan to work as long as I can and set up more foundations to help others and contribute to society. I was sitting on a profit of about $45,000 but I did not realise the profit. As well as being a trading firm, it also trains and nurtures people who have no prior experience in the field. On the first trading day of 2016, there was a huge spike in volatility when the Chinese market experienced a sharp sell-off that quickly sent stocks tumbling globally. The Chinese market fell to the point of triggering its new trading curb rule and trading was halted when it reached a certain threshold. A surprise move from the Chinese authorities, which suspended the circuit breaker, continued to cause further panic in the markets. No matter how volatile markets are, a non-negotiable risk management and money management framework has to be in place and a trader has to react to minimise losses. I managed to recoup the losses in the following month. The purchase price was US$2.30 apiece and the counter rose to US$62 over a four-year period. I was 25 years old then and did not have the risk appetite to buy more shares during the crisis. This happened in 2010 when I was trading the Japanese index futures using the funds of the company. Back then, the Greek sovereign debt crisis had begun in late 2009 and the market was very volatile with huge liquidity. I not only profited from the price of the underlying asset surging, but as a scalper and momentum trader trading derivatives, I also profited from both selling and buying. Ms Teh and her 44-year-old husband, a senior director at a local bank, have two children, four-year-old Arissa and two-month-old Allen.

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Berlin First Look: Salma Hayek in ‘The Hummingbird Project’ (Exclusive)

Berlin First Look: Salma Hayek in ‘The Hummingbird Project’ (Exclusive)

Salma Hayek and Alexander Skarsgard in 'The Hummingbird Project' Salma Hayek plays the nemesis to Alexander Skarsgard’s bald high-frequency trading scammer in this exclusive first look at the actress in The Hummingbird Project, from director Kim Nguyen (War Witch, Two Lovers and a Bear). HanWay is showing first footage from the thriller in Berlin. Written by Nguyen, The Hummingbird Project sees Eisenberg and Skarsgard play cousins who inhabit the high-stakes world of high-frequency trading and hatch a multimillion-dollar plan that involves plenty of danger if they fail. The film — which was first introduced to buyers in Cannes by HanWay, which reps international sales (CAA is overseeing the U.S.) — is being produced by Pierre Even (War Witch, C.R.A.Z.Y., Brooklyn) of Item 7 in Montreal and co-produced with Belgian outfit Belga Films, with Brian Kavanaugh-Jones (Loving) and Fred Berger (La La Land) of Automatik as executive producers.

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The Chinese overseas shopping spree slowed in 2017, but technology buying remains active

The Chinese overseas shopping spree slowed in 2017, but technology buying remains active

China’s overseas investments declined sharply last year, but technology related buying remained active, as the country pursued a more strategic approach and encouraged companies to purchase advanced technologies in the West. While some previously aggressive buyers have retreated, Tencent Holdings and Alibaba Group Holding continue to lead the shopping spree, and have spent billions on buying overseas companies and their technology, which ranges from artificial intelligence and cryptocurrencies to electric cars and genetic engineering. The investment in technology comes as the Chinese government encourages domestic companies to buy Western technologies when they “go out”, and promises it will facilitate the process. According to data from ITJUZI.com, outbound telecommunication, media and technology investment mostly went to three areas last year: corporate services, such as big data, cloud computing, and AI; fintech, such as blockchain and cryptocurrencies; and health care, like genetic engineering, biotech, and new drug research. A recent survey by PwC found that the search for advanced technologies meant that developed markets in the US and Europe remained the biggest destinations for Chinese buyers. Despite the much publicised impact of increased scrutiny by US regulators and the Trump administration’s ambivalent attitude towards Chinese investment, the number of deals in the US actually increased slightly to a record of 221 in 2017, according to the PwC report. “Chinese companies can’t invest overseas without government support,” said Liu Lixi, an analyst for Northeast Securities. “I think the selected tightening will persist for some time as the government faces pressure to stabilise the economy and the exchange rate. In 2017, Chinese companies’ outbound investments and M&As in the telecommunication, media and technology sectors totalled 395 billion yuan (US$62.28 billion), according to Chinese data compiler ITJUZI.com, based on publicly available information.

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Why Big Tech Firms Are Ignoring Blockchain (For Now)

Why Big Tech Firms Are Ignoring Blockchain (For Now)

If blockchain was truly revolutionary, why wouldn't top tech firms like Facebook, Amazon, Google, and Apple be doing more with it? originally appeared on Quora – the place to gain and share knowledge, empowering people to learn from others and better understand the world. However, Google, Apple, Amazon and Facebook have consistently attracted the best engineering talent and researchers from the top universities in the world. If you look back at the last five years, you can classify most people promulgating the values of blockchain technology into two buckets: Big financial institutions — theirs was an understandable reactionary measure to check whether their business was under threat, and to ensure that they don't look like luddites. Princeton University's Professor Arvind Narayanan, who offers what is perhaps the only reliable MOOC in this space, published a blog post that goes as far as saying that "Private blockchain" is just a confusing name for a shared database. Even the decentralization promised by public blockchains, while utopian in theory, is not without its fair share of problems. At the NASSCOM Product Conclave in Bangalore recently, Future Group CEO Kishore Biyani was asked what the one thing is that keeps him up at night. Compare this to a traditional system like Visa which can easily process over 25000 transactions per second [1]. Secondly, blockchain is still a solution in search of a problem. It doesn't have a single application so far that's either gone past the proof-of-concept phase or where it's been definitively proven that the proposed blockchain-based solution performs better than the incumbent technology. Therefore, given that companies like Facebook, Amazon, Google and Apple are not doing much with blockchain, even in the face of ever-increasing frenzy surrounding this technology, one could not be blamed for doubting blockchain's potential as a game-changing paradigm. They should not be seen as a reflection of my employer's view on the topic. This question originally appeared on Quora – the place to gain and share knowledge, empowering people to learn from others and better understand the world. He responded that it was "the fear of missing a trend." I suspect the leadership at great technology companies are similarly vigilant; the last thing they want is some new kid on the block disrupting their business models. In the last 20 years, it's hard to think of a single revolutionary technology that Amazon, Google, Apple, or Facebook did not experiment with. The esoteric nature of cryptocurrencies and blockchain technology makes it difficult for regular people to separate the wheat from the chaff.

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Stocks stretch winning streak to 6 days despite turbulence

Stocks stretch winning streak to 6 days despite turbulence

In a typical market downturn, investors might avoid stocks that have had huge run-ups out of fear they had gotten too expensive. Instead, investors are still betting on more strength in the economy and are buying companies that tend to do better in times of faster growth. After an unusually long period of calm, stocks plunged at the start of February as investors worried about inflation and rising interest rates. The S&P 500 fell as much as 10 percent from its latest record high reached January 26. But investors weren’t scared off for long. “Rates started to stabilize and you got some better economic data, and earnings in general have been pretty good,” said Sameer Samana, global equity and technical strategist for the Wells Fargo Investment Institute. Companies were still able to borrow at relatively low rates, which showed lenders weren’t concerned the economy was weakening. “A lot of people probably looked at stocks vs. credit and probably thought ‘if credit’s not feeling it, things must not be all that bad,’” he said. The Russell 2000 index of smaller company stocks climbed 6.35 points, or 0.4 percent, to 1,543.55. Homebuilders rose after the Commerce Department reported that construction of new homes jumped 9.7 percent in January. That was the highest level since October 2016, and permits, a sign of future construction, also climbed. Among health care companies, drugmaker AbbVie jumped $3.70, or 3.2 percent, to $118.60 and Johnson & Johnson rose $1.92, or 1.5 percent, to $133.15. The Dow was up 232 points at about 12:30 p.m., shortly before Special Counsel Robert Mueller announced the indictment of 13 Russians and three Russian organizations in a plot to interfere in the 2016 U.S. Stocks gave up their gains after that and spent the afternoon meandering between small gains and losses. The indictment says the Russians used social media propaganda, at times helping Trump and harming the prospects of Democrat Hillary Clinton. Facebook fell $2.60, or 1.4 percent, to $117.36 and Twitter fell 55 cents, or 1.6 percent, to $33.06 Samana, of Wells Fargo, said the recovery from the recent 10 percent plunge may not be a smooth one either. “We see another year of solid returns” for stocks, he said. “It’ll just come with these bouts where people worry about rates and inflation and the end of the cycle.” Among health care companies, Johnson & Johnson gained $2.14, or 1.6 percent, to $133.37 and AbbVie jumped $3.11, or 2.7 percent, to $118.01. Now that stocks have stopped plunging, investors are focusing on the strong results companies posted in the fourth quarter. “Analysts continue to underestimate the pace of global growth,” Credit Suisse analyst Jonathan Golub wrote in a report. “As a result, more companies are beating/hitting expectations than in any quarter in 20 years.” Since the market hit its recent low point on Feb. 8, the S&P 500 technology index is up 8.5 percent and its financial company index is up 6.7 percent. Amazon, one of the best performing S&P 500 companies this year, rose 8 percent for the week. 16, 2018. (Richard Drew, File/Associated Press) NEW YORK — Stocks closed out their strongest week in five years Friday and have now recovered more than half of the losses they suffered in a plunge at the beginning of the month. The yield on the 10-year Treasury note fell to 2.87 percent from 2.91 percent. U.S. crude oil picked up 34 cents to $61.68 a barrel in New York. Brent crude, used to price international oils, added 51 cents to $64.84 a barrel in London. The CAC 40 of France climbed 1.1 percent after a strong gain a day ago. Markets in China and South Korea were closed for lunar new year celebrations. ___ AP Markets Writer Marley Jay can be reached at http://twitter.com/MarleyJayAP . His work can be found at https://apnews.com/search/marley%20jayt . Copyright 2018 The Associated Press. The gain Friday was the sixth in a row for the Standard & Poor’s 500 index. A combination of cheaper prices for stocks as well as solid company profits put investors back in a buying mood. Investors haven’t hesitated to buy the same types of stocks that did well before the market’s recent slump, including technology companies and banks.

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Privacy and Security on Blockchains | @CloudExpo #FinTech #AI #Blockchain

sys-con.com Introducing IBM Blockchain Technologies By Elizabeth White “IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain,” stated Ren� Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at…

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Digital Fintech Specialist Wirecard Expands Collaboration With ReiseBank

Digital Fintech Specialist Wirecard Expands Collaboration With ReiseBank

“With the new services offered by bankomo, we are giving our customers what they want: the ability to easily make withdrawals from or to pay money into their account across the country. According to Wirecard, the companies are providing users with a completely digital banking ecosystem in the form of the bankomo app. The accounts may be opened and managed within just a few minutes through video authentication using the intuitive app (iOS and Android) or online at the bankom website. Wirecard also noted that each account is linked to a prepaid Mastercard, which enables money to be transferred to other bankomo customers (peer-to-peer) within seconds and also supports traditional banking services, such as SEPA transfers and direct debits as well as standing orders. “By expanding cash payments and withdrawals, Wirecard is leveraging its position as ReiseBank’s technology partner to make digital banking even more appealing. To pay in or withdraw cash, users can simply create a barcode in their bankomo app, which is then scanned at the supermarket checkout to enable the payment or withdrawal.”

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Add Another Bank to Fintech Roostify’s Roster of Investors

Add Another Bank to Fintech Roostify’s Roster of Investors

Pexels.Com EXCLUSIVE — If there’s any question that digital mortgage firms are gaining attention from larger fintech players and investors, then look no further than venture capital firm Santander InnoVentures‘ investment in Roostify, a startup that digitalizes the mortgage application process. Madrid, Spain-based Santander InnoVentures, the fintech VC arm of major Spanish bank Santander Group, announced that it led a $24 million Series B round for the fintech, which closed yesterday. To learn more about digital lenders, join us on March 5-6, 2018 at the Parc 55 in San Francisco for Bank Innovation 2018. “The Santander InnoVentures model has excelled at taking great technologies and expand them across the Santander footprint,” Manuel Silva, head of investments at Santander InnoVentures told Bank Innovation. “Additionally, Roostify is engaged in an ambitious product development plan that will greatly enhance its current offering. But one thing is clear, banks seem to be taking an interest in Roostify, as is evident in the numerous bank investors in this latest funding round. Last year around the same time, JPMorgan Chase (the second-largest originator of U.S. mortgages) announced a partnership with Roostify for its own digital, self-serve mortgage platform. Mortgage-focused fintechs are garnering interest from banks and larger fintech players with digital mortgage lenders like Better Mortgage showing impressive growth (more on this here).

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Not Tech but collaborations to Be the Next Big Thing for Fintech Industry

Not Tech but collaborations to Be the Next Big Thing for Fintech Industry

Why Collaborations are Crucial for Fintechs?'Make the pie bigger' is a philosophical line that aptly suits any discussion about collaborations, and when it comes to fintechs in India, a subcontinent that doesn't fit a homogeneous cohort, collaboration is the only way to participate and thrive in India's exponentially growing fintech and digital economy movement.Government is collaborating with start-ups (BHIM and Uber), start-ups are collaborating with banks (mSwpie), banks are collaborating with accelerators (Axis bank Thought Factory), accelerators are collaborating with BFSI industry players in general (Fintegrate Zone 2018). Such partnerships between banks and fintech start-ups can drive momentum of the national financial inclusion agenda.Collaboration with the Ecosystem for Building a Better TomorrowBanks like Axis and Barclays India have committed to innovations in Fintech by partnering with not just a few, but with entire start-up and tech ecosystem. Axis' 'Thought Factory' and Barclays' 'Rise' program are long-term initiatives to have continuous, seamless, and ongoing dialogue with Fintech start-ups, accelerators and industry experts to internalise the way they innovate.From Design sprints to Hackathons, the Goliaths are leaving no stone unturned to stay in the game with Davids.Collaboration for Service QualityThe way customers interact with financial institutions is also changing. Such a collaboration will allow MetLife customers to immerse themselves in a virtual branch where they can engage with agents digitally to have questions answered and submit claims; similarly, Bajaj Insurance partnered with Amazon Alexa and customers can get all their insurance policy related questions answered with just voice.All the verticals of finance and banking need collaboration. The circle of collaboration in Fintech has always been a full 360 degrees; but the speed at which digital is seeping into people's lives, collaboration is a cornerstone for Fintech players to innovate and avoid a 'Kodak' moment. Here are some scenarios where collaboration is driving growth and innovation in Fintech.Collaboration for Better Digital InclusionBanks need to look further than the conventional indicators to underwrite credit risk, something they have relied upon for decades. Banks can sure collaborate to have better financial inclusion.Collaboration for Concentric ExpansionsPeer to peer lending (P2P) is one of the hottest area of fintech, and conventional business conglomerates are yet to warm up to the idea as much as start-ups have. With RBI regulating the NBFC space including laying bare the directions and norms for P2P lending, the market is poised to grow up to $5bn by 2023. Other NBFC and BFSI players collaborating with existing start-ups may grow the space and bring in more excitement to the space.Collaborating with Start-ups for InnovationICICI Bank is partnering with Stellar, a blockchain start-up, to build blockchain-enabled payments network.

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The Stock Market Crash Reveals the Rot at the Core of Our Economic System

The Stock Market Crash Reveals the Rot at the Core of Our Economic System

Feb. 5 saw the steepest stock market decline in six and half years, and the largest one-day point decline in the history of the Dow Jones Industrial Average. Low volatility in the stock market has hurt the revenue of trading desks such as those at Goldman Sachs by reducing opportunities to exploit spreads in prices. The largest banks have discretionary control over hundreds of billions of dollars in assets that, through selective buying and selling, can create added volatility in the market. During the 2008 financial crisis, Goldman’s former Chairman Hank Paulson served as Treasury Secretary while another former Chairman, Stephen Friedman, served as head of the New York Fed—Goldman’s primary regulator. Nearly every bank with exposure to the collapse in the RMBS market was either bailed out by the government or put into an orderly receivership. The lone exception was the investment bank that was likely the most exposed to the subprime market, Lehman Brothers. While this downturn may not spell an immediate crisis for capitalism, it does further reveal the rot at the core of the system. Lehman’s Chapter 11 bankruptcy filing meant that there would be no aid from the government, and investors holding Lehman RMBS could expect to get just pennies on the dollar. Every other major bank was deemed by Paulson, Friedman, Bolten and Kashkari to be Too Big To Fail because of the mortgage crisis, except for Lehman, whose collapse would trigger massive profits for Goldman. Then there’s LIBOR, or the London Interbank Offered Rate, which was tied to the value of $800 trillion in securities worldwide. In 2012, nearly all of the world’s major banks were found to have manipulated LIBOR by artificially distorting the data they submitted to set the rate. Attorney for the Southern District of New York, which commonly leads securities prosecutions with the Securities and Exchange Commission. The largest financial firms can profit from sudden fluctuations in the market—while ordinary investors such as those with pension funds and 401(k)s are left holding the bag. This regulatory rollback, overseen by individuals with strong ties to the financial industry, allows bad actors in the market to ensure that they can operate unscathed. Every bet has a winner and a loser, and in the casino of Wall Street, the house always wins. And on the other side are the millions of ordinary investors with little understanding of the intricacies of how the market actually works, and with little control over how their wealth is actually invested. Besides the big banks, another prominent beneficiary of the rise in volatility is billionaire Vincent Viola’s Virtu Financial, a high-frequency trading firm that handles 20 percent of all equity trades in the U.S. stock market every day—that saw its profits plummet alongside the reduction of volatility in the markets. Viola, the founder and “Chairman Emeritus” of Virtu, has significant ties to Donald Trump, who briefly nominated Viola as Secretary of the Army in 2017. While it’s impossible to prove that the level of manipulation that occurred with LIBOR and the 2008 financial crisis is happening now, there is motive and opportunity: Wall Street’s largest trading desks were negatively hit by low volatility, and the same banks and hedge funds have control over hundreds of billions of dollars that can influence price swings in the markets. This volatility in the market has allowed for more Wall Street ticks to suck at the hog of the roughly $27 trillion in retirement assets held by Americans. And for their bets on price swings in a volatile market to pay off, Wall Street has to have someone on the other side of that bet: the dumb money of pension, 401(k)s, and mutual funds. Another good idea would be to eliminate the tax exemption for municipal bonds, and compelling pension funds to invest in municipal bonds instead of Wall Street. This would end a huge tax shelter for the rich, while returning public pension funds to the investment strategies that worked well for them through the end of the 1960s. A revived Glass-Steagall Act to separate commercial and investment banking would also help to stamp out market manipulation by reining in the power of banks like Goldman and JP Morgan.

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