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Latest Forum Topics / OCBC Bank    Last:31.92    +0.07  Post Reply
do not bet against the sg bank shares
chartiskao
Supreme
30-Jul-2026 17:04     
 
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I' m Still Here" by Sia, its central theme is perseverance, endurance, and emerging stronger after hardship. Without quoting the copyrighted lyrics, we can apply that theme to Singapore' s history and to financial markets.

" I' m Still Here" &mdash Singapore' s Story

On 9 August 1965, Singapore faced an uncertain future:
  • Separation from Malaysia.
  • Limited natural resources.
  • High unemployment.
  • Housing shortages.
  • Regional security concerns.
  • Questions about economic survival.
Many doubted whether the new nation could succeed.
Yet over the following decades, Singapore demonstrated resilience through:
  • Strong institutions.
  • Investment in education.
  • Clean and effective government.
  • Openness to trade and investment.
  • Long-term planning.
The message could be summarized as:
" Despite every challenge, Singapore endured and continued to develop."
中 文
1965年 的 新 加 坡 ，
面 对 的 是 ：
  • 被 迫 独 立 ；
  • 没 有 天 然 资 源 ；
  • 就 业 困 难 ；
  • 前 途 未 明 。
几 十 年 后 ，
新 加 坡 向 世 界 证 明 ：
经 历 风 雨 ， 依 然 屹 立 。

" I' m Still Here" &mdash Financial Markets

The same theme applies to market history.
Think about the crises you' ve listed:
  • 1973 Oil Crisis
  • 1985 Pan-Electric Crisis
  • 1987 Black Monday
  • 1997 Asian Financial Crisis
  • 2000 Dot-com Crash
  • 2001 September 11
  • 2003 SARS
  • 2008 Global Financial Crisis
  • 2020 COVID-19
  • Recent wars
  • Rapid global interest-rate increases
Each time, many believed the worst would continue indefinitely.
Yet over time:
  • Markets adapted.
  • Businesses changed.
  • New industries emerged.
  • Economies recovered, although not every company or investor did.
The broad lesson is one of resilience rather than permanence.

Applying It to Long-Term Investing

For an investor, the theme becomes:
  • Fear is temporary.
  • Market cycles repeat.
  • Strong businesses can recover from severe downturns.
  • Patience and discipline often matter more than trying to predict every crisis.
This does not mean every investment succeeds&mdash many companies fail during crises. The lesson is that a diversified portfolio of fundamentally strong businesses has historically been better positioned to benefit from long-term economic recovery.

English Reflection

Singapore' s history is not simply a story of economic growth. It is a story of resilience. From an uncertain beginning in 1965, the country faced repeated external shocks&mdash oil crises, recessions, financial turmoil, epidemics, and geopolitical tensions. Each challenge tested its institutions and people. The fact that Singapore continued to grow demonstrates that resilience is built through preparation, adaptability, and long-term commitment rather than the absence of hardship.

中 文 感 悟

新 加 坡 的 成 功 ， 不 是 因 为 没 有 危 机 ， 而 是 因 为 每 一 次 危 机 后 ， 都 能 够 重 新 站 起 来 。 从 1965年 独 立 ， 到 面 对 石 油 危 机 、 亚 洲 金 融 风 暴 、 SARS、 全 球 金 融 危 机 、 新 冠 疫 情 等 挑 战 ， 新 加 坡 不 断 调 整 、 学 习 、 改 革 。 真 正 的 力 量 ， 不 是 在 于 永 远 不 会 跌 倒 ， 而 是 在 每 一 次 跌 倒 后 ， 依 然 能 够 继 续 前 进 。 这 也 是 长 期 投 资 最 重 要 的 精 神 ： 面 对 市 场 波 动 ， 保 持 理 性 ， 坚 持 长 期 价 值 。
 
 
 
https://www.youtube.com/watch?v=N8BXtM6onEY& list=RDN8BXtM6onEY& start_radio=1


chartiskao      ( Date: 21-Jul-2026 16:54) Posted:

https://www.youtube.com/watch?v=NGEVMhSPcIQ& list=RDNGEVMhSPcIQ& start_radio=1

This song speaks about acceptance, patience, uncertainty, and learning to let go. Those themes fit your investment journey surprisingly well because your approach has consistently been to hold quality businesses through cycles, focus on dividends, keep cash for crises, and avoid chasing market excitement.
Here is how each part of the song can become an investing philosophy.
Chinese Lyrics Investment Lesson Your Investment Journey
妳 說 妳 還 是 喜 歡 孤 單 ， 其 實 妳 怕 被 我 看 穿 The market often hides its true feelings. Prices don' t always reflect intrinsic value. When Hong Kong property stocks or Singapore banks were unpopular, you looked beyond sentiment and focused on business value.
妳 怕 屬 於 我 們 的 船 ， 漂 漂 蕩 蕩 靠 不 了 岸 Every investment feels uncertain during a crisis. Whether it was COVID-19, rising interest rates, or concerns about China, uncertainty is part of investing.
事 到 如 今 沒 有 答 案 Nobody knows exactly when markets will recover. Accept that timing is uncertain concentrate on owning resilient businesses.
我 的 真 心 為 妳 牽 絆 Stay committed to your investment thesis&mdash but not blindly attached. Continue to review whether the original reasons for investing remain valid.
簡 簡 單 單 的 說 ， 愛 是 不 愛 Ask one simple question: " Would I still buy this company today?" If the answer is yes because the fundamentals remain strong, short-term price movements matter less.
想 要 把 妳 忘 記 真 的 好 難 Losses and missed opportunities are difficult to forget. Every investor remembers painful periods, but dwelling on them doesn' t improve future decisions.
朝 朝 暮 暮 的 期 盼 ， 永 遠 沒 有 答 案 Waiting for the " perfect" recovery date is impossible. Long-term wealth comes from patience, not perfect timing.
為 何 當 初 妳 選 擇 一 刀 兩 斷 Markets sometimes fall sharply without warning. Accept that sudden declines happen and prepare for them instead of trying to predict them.
曾 經 說 過 的 話 風 吹 雲 散 Market narratives constantly change. Yesterday' s optimism can become today' s pessimism. Anchor yourself in financial statements rather than headlines.
站 在 天 秤 的 兩 端 ， 一 樣 的 為 難 Every investment decision has trade-offs. Holding cash means missing some rallies being fully invested means having less flexibility during downturns.
唯 一 的 答 案 ， 愛 一 個 人 好 難 Long-term investing is emotionally difficult. The challenge isn' t finding good companies&mdash it' s staying disciplined through difficult years.
 

The Song Applied to Your Investment Philosophy

1. Accept that uncertainty never disappears.

事 到 如 今 沒 有 答 案
No crisis comes with a timetable.
During:
  • the Asian Financial Crisis,
  • the Global Financial Crisis,
  • COVID-19,
  • or future AI-related disruptions,
the market will always ask:
" How long will this last?"
The truthful answer is:
No one knows.
Your edge comes from preparation, not prediction.

2. Don' t expect the market to reassure you.

聽 妳 說 聲 愛 我 真 的 好 難
Many investors wait for:
  • good news,
  • analyst upgrades,
  • economic recovery,
before buying.
By then, much of the recovery may already be reflected in prices.
Quality businesses rarely send a clear signal saying:
" Now is the perfect time to invest."

3. Let fundamentals guide you, not emotions.

簡 簡 單 單 的 說 ， 愛 是 不 愛
When prices fall sharply, ask:
  • Is the balance sheet still strong?
  • Is cash flow intact?
  • Can the company survive a prolonged downturn?
  • Is management still disciplined?
Those questions matter more than daily price swings.

4. Don' t chase certainty.

朝 朝 暮 暮 的 期 盼 ， 永 遠 沒 有 答 案
There is no perfect entry point.
Many successful investments begin when uncertainty is highest.
History shows that major opportunities often appeared during periods when confidence was lowest.

5. Learn to let go when the facts change.

為 何 當 初 妳 選 擇 一 刀 兩 斷
In relationships, sometimes people move on.
In investing, sometimes businesses genuinely deteriorate.
A disciplined investor distinguishes between:
  • a temporary fall in price, and
  • a permanent decline in business quality.
Holding because of evidence is different from holding because of attachment.

6. Patience is an active decision.

我 的 真 心 為 妳 牽 絆
Patience does not mean ignoring risk.
It means reviewing the facts and consciously deciding:
" The investment thesis is still intact, so I will continue to hold."

A Personal Investing Motto Inspired by the Song

You have often emphasised:
  • Singapore banks as long-term core holdings,
  • dividend compounding,
  • keeping cash ready for the next crisis,
  • buying quality businesses when others are pessimistic.
The song can be reinterpreted into an investing philosophy like this:
" Markets will not always give me certainty. Prices will rise and fall, headlines will change, and crises will come without warning. My responsibility is not to predict every outcome, but to remain disciplined, preserve capital, hold quality businesses, and let patience work over time."
That captures the deepest lesson of both the song and long-term value investing: the greatest challenge is not finding opportunities&mdash it is keeping your judgment clear when emotions are strongest.
 
 
 
 


chartiskao      ( Date: 21-Jul-2026 16:52) Posted:

https://www.youtube.com/watch?v=NGEVMhSPcIQ& list=RDNGEVMhSPcIQ& start_radio=1

This song, 《 愛 一 個 人 好 難 》 (" Loving Someone Is Hard" ), is about unrequited love, emotional uncertainty, and the pain of letting go. It is not simply a breakup song&mdash it portrays the inner struggle of someone who still loves deeply while the other person has already chosen to move on.
Below is an interpretation of the lyrics in natural English, focusing on the emotional meaning rather than a literal translation.

Opening

妳 說 妳 還 是 喜 歡 孤 單 ， 其 實 妳 怕 被 我 看 穿
Literal meaning:
" You said you still prefer being alone, but actually you' re afraid I' ll see through you."
Emotional meaning:
The singer believes the other person is using " I like being alone" as a shield.
Deep inside, she may still have feelings, but she is afraid of admitting them.
It is easier to hide behind loneliness than to risk being hurt again.
妳 怕 屬 於 我 們 的 船 ， 漂 漂 蕩 蕩 靠 不 了 岸
Literal meaning:
" You' re afraid the boat that belongs to us will drift forever without reaching shore."
Meaning:
The relationship is compared to a boat.
She fears:
  • uncertainty
  • instability
  • no future together
She worries they will never find a safe place where the relationship can truly settle.
The boat symbolizes hope.
The shore symbolizes security and commitment.

Acceptance Without Answers

事 到 如 今 沒 有 答 案
" Even now, there is still no answer."
Time has passed.
Questions remain unanswered.
Why did everything end?
The singer still doesn' t know.
我 的 真 心 為 妳 牽 絆
" My heart is still tied to you."
Although the relationship has ended,
his emotions remain connected.
He cannot simply let go.
不 管 相 見 的 夜 多 麼 難 堪
" No matter how awkward or painful it is when we meet."
Meeting again only reminds them of what has been lost.
Yet those meetings still matter because the feelings have not disappeared.
簡 簡 單 單 的 說 ， 愛 是 不 愛
" Just tell me simply&mdash do you love me or not?"
The singer no longer wants ambiguity.
He wants honesty.
Even a painful truth is better than endless uncertainty.

The Difficulty of Letting Go

想 要 把 妳 忘 記 真 的 好 難
" Trying to forget you is incredibly difficult."
Memory refuses to disappear.
Love leaves traces that cannot simply be erased.
思 念 的 痛 在 我 心 裡 糾 纏
" The pain of missing you keeps twisting inside my heart."
Longing has become constant.
It is no longer a passing emotion.
It has become part of daily life.
朝 朝 暮 暮 的 期 盼 ， 永 遠 沒 有 答 案
" Day after day, I keep hoping&mdash but no answer ever comes."
Every morning.
Every night.
Hope continues.
The silence never ends.
為 何 當 初 妳 選 擇 一 刀 兩 斷
" Why did you choose to cut everything off so completely?"
The phrase 一 刀 兩 斷 literally means " to cut with one stroke."
Emotionally it means:
  • ending the relationship completely
  • leaving no room for reconciliation
  • making a clean break
The singer cannot understand why the ending had to be so absolute.

Love Without Assurance

聽 妳 說 聲 愛 我 真 的 好 難
" Hearing you say ' I love you' has become impossible."
Not because the words are difficult,
but because they will probably never be spoken again.
曾 經 說 過 的 話 風 吹 雲 散
" The promises we once made have been scattered like clouds in the wind."
Promises once felt permanent.
Now they have disappeared,
as though carried away by the wind.

Two People Trapped

站 在 天 秤 的 兩 端 ， 一 樣 的 為 難
" We stand on opposite sides of the balance, equally torn."
Both people suffer.
Perhaps for different reasons.
One cannot move forward.
The other cannot move back.
The balance never settles.

Final Realisation

唯 一 的 答 案 ， 愛 一 個 人 好 難
" The only answer is this: loving someone is hard."
After all the questions,
all the waiting,
all the tears,
the singer arrives at one simple truth.
Love itself is difficult.
Not because love is wrong,
but because:
  • people change,
  • timing changes,
  • circumstances change,
  • feelings are not always equal.

The Core Meaning of the Song

This song explores several universal emotions:

Love cannot be forced.

One person may continue loving,
while the other has already chosen another path.

Some questions never receive answers.

The singer never learns exactly why the relationship ended.
Sometimes life offers no complete explanation.

Letting go is often harder than falling in love.

The relationship may end in a moment,
but healing can take much longer.

Honesty is kinder than uncertainty.

The repeated request&mdash
" Tell me simply: do you love me or not?"
shows that clarity, even when painful, is often easier to bear than endless doubt.

The Last Line

唯 一 的 答 案 ， 愛 一 個 人 好 難
The final line carries the emotional weight of the entire song.
It does not mean that love is hopeless.
Rather, it recognises that genuine love requires vulnerability. When you care deeply about someone, you cannot completely protect yourself from disappointment, misunderstanding, or loss.
The singer' s conclusion is one of acceptance:
The hardest part of loving someone is not falling in love&mdash it is accepting that love alone cannot always determine the outcome.
 
 
 
 


 Useful To Me  Not Useful To Me
chartiskao
Supreme
21-Jul-2026 16:54     
 
chartiskao About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin
https://www.youtube.com/watch?v=NGEVMhSPcIQ& list=RDNGEVMhSPcIQ& start_radio=1

This song speaks about acceptance, patience, uncertainty, and learning to let go. Those themes fit your investment journey surprisingly well because your approach has consistently been to hold quality businesses through cycles, focus on dividends, keep cash for crises, and avoid chasing market excitement.
Here is how each part of the song can become an investing philosophy.
Chinese Lyrics Investment Lesson Your Investment Journey
妳 說 妳 還 是 喜 歡 孤 單 ， 其 實 妳 怕 被 我 看 穿 The market often hides its true feelings. Prices don' t always reflect intrinsic value. When Hong Kong property stocks or Singapore banks were unpopular, you looked beyond sentiment and focused on business value.
妳 怕 屬 於 我 們 的 船 ， 漂 漂 蕩 蕩 靠 不 了 岸 Every investment feels uncertain during a crisis. Whether it was COVID-19, rising interest rates, or concerns about China, uncertainty is part of investing.
事 到 如 今 沒 有 答 案 Nobody knows exactly when markets will recover. Accept that timing is uncertain concentrate on owning resilient businesses.
我 的 真 心 為 妳 牽 絆 Stay committed to your investment thesis&mdash but not blindly attached. Continue to review whether the original reasons for investing remain valid.
簡 簡 單 單 的 說 ， 愛 是 不 愛 Ask one simple question: " Would I still buy this company today?" If the answer is yes because the fundamentals remain strong, short-term price movements matter less.
想 要 把 妳 忘 記 真 的 好 難 Losses and missed opportunities are difficult to forget. Every investor remembers painful periods, but dwelling on them doesn' t improve future decisions.
朝 朝 暮 暮 的 期 盼 ， 永 遠 沒 有 答 案 Waiting for the " perfect" recovery date is impossible. Long-term wealth comes from patience, not perfect timing.
為 何 當 初 妳 選 擇 一 刀 兩 斷 Markets sometimes fall sharply without warning. Accept that sudden declines happen and prepare for them instead of trying to predict them.
曾 經 說 過 的 話 風 吹 雲 散 Market narratives constantly change. Yesterday' s optimism can become today' s pessimism. Anchor yourself in financial statements rather than headlines.
站 在 天 秤 的 兩 端 ， 一 樣 的 為 難 Every investment decision has trade-offs. Holding cash means missing some rallies being fully invested means having less flexibility during downturns.
唯 一 的 答 案 ， 愛 一 個 人 好 難 Long-term investing is emotionally difficult. The challenge isn' t finding good companies&mdash it' s staying disciplined through difficult years.
 

The Song Applied to Your Investment Philosophy

1. Accept that uncertainty never disappears.

事 到 如 今 沒 有 答 案
No crisis comes with a timetable.
During:
  • the Asian Financial Crisis,
  • the Global Financial Crisis,
  • COVID-19,
  • or future AI-related disruptions,
the market will always ask:
" How long will this last?"
The truthful answer is:
No one knows.
Your edge comes from preparation, not prediction.

2. Don' t expect the market to reassure you.

聽 妳 說 聲 愛 我 真 的 好 難
Many investors wait for:
  • good news,
  • analyst upgrades,
  • economic recovery,
before buying.
By then, much of the recovery may already be reflected in prices.
Quality businesses rarely send a clear signal saying:
" Now is the perfect time to invest."

3. Let fundamentals guide you, not emotions.

簡 簡 單 單 的 說 ， 愛 是 不 愛
When prices fall sharply, ask:
  • Is the balance sheet still strong?
  • Is cash flow intact?
  • Can the company survive a prolonged downturn?
  • Is management still disciplined?
Those questions matter more than daily price swings.

4. Don' t chase certainty.

朝 朝 暮 暮 的 期 盼 ， 永 遠 沒 有 答 案
There is no perfect entry point.
Many successful investments begin when uncertainty is highest.
History shows that major opportunities often appeared during periods when confidence was lowest.

5. Learn to let go when the facts change.

為 何 當 初 妳 選 擇 一 刀 兩 斷
In relationships, sometimes people move on.
In investing, sometimes businesses genuinely deteriorate.
A disciplined investor distinguishes between:
  • a temporary fall in price, and
  • a permanent decline in business quality.
Holding because of evidence is different from holding because of attachment.

6. Patience is an active decision.

我 的 真 心 為 妳 牽 絆
Patience does not mean ignoring risk.
It means reviewing the facts and consciously deciding:
" The investment thesis is still intact, so I will continue to hold."

A Personal Investing Motto Inspired by the Song

You have often emphasised:
  • Singapore banks as long-term core holdings,
  • dividend compounding,
  • keeping cash ready for the next crisis,
  • buying quality businesses when others are pessimistic.
The song can be reinterpreted into an investing philosophy like this:
" Markets will not always give me certainty. Prices will rise and fall, headlines will change, and crises will come without warning. My responsibility is not to predict every outcome, but to remain disciplined, preserve capital, hold quality businesses, and let patience work over time."
That captures the deepest lesson of both the song and long-term value investing: the greatest challenge is not finding opportunities&mdash it is keeping your judgment clear when emotions are strongest.
 
 
 
 


chartiskao      ( Date: 21-Jul-2026 16:52) Posted:

https://www.youtube.com/watch?v=NGEVMhSPcIQ& list=RDNGEVMhSPcIQ& start_radio=1

This song, 《 愛 一 個 人 好 難 》 (" Loving Someone Is Hard" ), is about unrequited love, emotional uncertainty, and the pain of letting go. It is not simply a breakup song&mdash it portrays the inner struggle of someone who still loves deeply while the other person has already chosen to move on.
Below is an interpretation of the lyrics in natural English, focusing on the emotional meaning rather than a literal translation.

Opening

妳 說 妳 還 是 喜 歡 孤 單 ， 其 實 妳 怕 被 我 看 穿
Literal meaning:
" You said you still prefer being alone, but actually you' re afraid I' ll see through you."
Emotional meaning:
The singer believes the other person is using " I like being alone" as a shield.
Deep inside, she may still have feelings, but she is afraid of admitting them.
It is easier to hide behind loneliness than to risk being hurt again.
妳 怕 屬 於 我 們 的 船 ， 漂 漂 蕩 蕩 靠 不 了 岸
Literal meaning:
" You' re afraid the boat that belongs to us will drift forever without reaching shore."
Meaning:
The relationship is compared to a boat.
She fears:
  • uncertainty
  • instability
  • no future together
She worries they will never find a safe place where the relationship can truly settle.
The boat symbolizes hope.
The shore symbolizes security and commitment.

Acceptance Without Answers

事 到 如 今 沒 有 答 案
" Even now, there is still no answer."
Time has passed.
Questions remain unanswered.
Why did everything end?
The singer still doesn' t know.
我 的 真 心 為 妳 牽 絆
" My heart is still tied to you."
Although the relationship has ended,
his emotions remain connected.
He cannot simply let go.
不 管 相 見 的 夜 多 麼 難 堪
" No matter how awkward or painful it is when we meet."
Meeting again only reminds them of what has been lost.
Yet those meetings still matter because the feelings have not disappeared.
簡 簡 單 單 的 說 ， 愛 是 不 愛
" Just tell me simply&mdash do you love me or not?"
The singer no longer wants ambiguity.
He wants honesty.
Even a painful truth is better than endless uncertainty.

The Difficulty of Letting Go

想 要 把 妳 忘 記 真 的 好 難
" Trying to forget you is incredibly difficult."
Memory refuses to disappear.
Love leaves traces that cannot simply be erased.
思 念 的 痛 在 我 心 裡 糾 纏
" The pain of missing you keeps twisting inside my heart."
Longing has become constant.
It is no longer a passing emotion.
It has become part of daily life.
朝 朝 暮 暮 的 期 盼 ， 永 遠 沒 有 答 案
" Day after day, I keep hoping&mdash but no answer ever comes."
Every morning.
Every night.
Hope continues.
The silence never ends.
為 何 當 初 妳 選 擇 一 刀 兩 斷
" Why did you choose to cut everything off so completely?"
The phrase 一 刀 兩 斷 literally means " to cut with one stroke."
Emotionally it means:
  • ending the relationship completely
  • leaving no room for reconciliation
  • making a clean break
The singer cannot understand why the ending had to be so absolute.

Love Without Assurance

聽 妳 說 聲 愛 我 真 的 好 難
" Hearing you say ' I love you' has become impossible."
Not because the words are difficult,
but because they will probably never be spoken again.
曾 經 說 過 的 話 風 吹 雲 散
" The promises we once made have been scattered like clouds in the wind."
Promises once felt permanent.
Now they have disappeared,
as though carried away by the wind.

Two People Trapped

站 在 天 秤 的 兩 端 ， 一 樣 的 為 難
" We stand on opposite sides of the balance, equally torn."
Both people suffer.
Perhaps for different reasons.
One cannot move forward.
The other cannot move back.
The balance never settles.

Final Realisation

唯 一 的 答 案 ， 愛 一 個 人 好 難
" The only answer is this: loving someone is hard."
After all the questions,
all the waiting,
all the tears,
the singer arrives at one simple truth.
Love itself is difficult.
Not because love is wrong,
but because:
  • people change,
  • timing changes,
  • circumstances change,
  • feelings are not always equal.

The Core Meaning of the Song

This song explores several universal emotions:

Love cannot be forced.

One person may continue loving,
while the other has already chosen another path.

Some questions never receive answers.

The singer never learns exactly why the relationship ended.
Sometimes life offers no complete explanation.

Letting go is often harder than falling in love.

The relationship may end in a moment,
but healing can take much longer.

Honesty is kinder than uncertainty.

The repeated request&mdash
" Tell me simply: do you love me or not?"
shows that clarity, even when painful, is often easier to bear than endless doubt.

The Last Line

唯 一 的 答 案 ， 愛 一 個 人 好 難
The final line carries the emotional weight of the entire song.
It does not mean that love is hopeless.
Rather, it recognises that genuine love requires vulnerability. When you care deeply about someone, you cannot completely protect yourself from disappointment, misunderstanding, or loss.
The singer' s conclusion is one of acceptance:
The hardest part of loving someone is not falling in love&mdash it is accepting that love alone cannot always determine the outcome.
 
 
 
 


chartiskao      ( Date: 21-Jul-2026 10:12) Posted:

they set the rukes and all must followed the rules they set

https://www.youtube.com/watch?v=81WhM9dOcYI& list=RD81WhM9dOcYI& start_radio=1

From Independence to Global Banking Champions (1965&ndash 2030)

How DBS, OCBC and UOB Created Extraordinary Long-Term Shareholder Value

Singapore' s banking industry is one of the country' s greatest economic success stories. From a newly independent nation with a small domestic market in 1965, Singapore has built three banking groups&mdash DBS, OCBC and UOB&mdash that rank among Asia' s strongest financial institutions.
This transformation was not driven by rapid expansion alone. It resulted from careful consolidation, disciplined capital allocation, conservative risk management, continuous investment in technology, and long-term strategic planning.

Phase I: Building a Financial Centre (1965&ndash 1985)

When Singapore became independent in 1965:
  • GDP per capita was below US$600.
  • The domestic banking sector was relatively small.
  • Most businesses relied on trade finance and basic commercial banking.
  • The government aimed to establish Singapore as an international financial centre.

DBS: Created to Support National Development

DBS was founded in 1968 as the Development Bank of Singapore.
Its original role was not retail banking but financing:
  • industrialisation,
  • infrastructure,
  • manufacturing,
  • export-oriented companies.
As Singapore' s economy expanded, DBS evolved into a full commercial bank.

OCBC and UOB

Unlike DBS, OCBC and UOB were privately established banks with deep roots in serving Chinese businesses, SMEs, and family-owned enterprises. They expanded alongside Singapore' s export-driven growth.

Phase II: Regional Expansion (1985&ndash 1997)

As Singapore' s economy matured, the banks diversified beyond traditional lending.
They invested in:
  • trade finance,
  • treasury,
  • corporate banking,
  • investment banking,
  • wealth management,
  • regional expansion into ASEAN.
By the mid-1990s, all three had become profitable regional banks.

Phase III: The Asian Financial Crisis (1997&ndash 1999)

The Asian Financial Crisis exposed weaknesses across many Asian banking systems.
Singapore' s banks proved comparatively resilient because they had:
  • conservative lending standards,
  • strong regulatory oversight,
  • prudent provisioning,
  • relatively healthy capital positions.
The crisis also highlighted that Singapore had too many domestic banks for such a small market.

Phase IV: Banking Consolidation (1998&ndash 2004)

This was the defining period for Singapore banking.
The industry moved from five major banks to three.
Before After
DBS DBS
OCBC OCBC
UOB UOB
OUB Merged into UOB
Keppel TatLee Merged into OCBC
 
Major transactions included:
  • DBS acquiring POSBank (1998).
  • OCBC acquiring Keppel TatLee Bank (2001).
  • UOB acquiring OUB (2001).
The objectives were clear:
  • achieve economies of scale,
  • strengthen balance sheets,
  • improve efficiency,
  • prepare for greater foreign competition,
  • create banks capable of competing across Asia.

Phase V: Refocusing on Core Banking (2000&ndash 2015)

Following consolidation, the banks streamlined their operations.
They reduced exposure to unrelated businesses and concentrated on areas where they had clear competitive advantages:
  • consumer banking,
  • commercial banking,
  • corporate banking,
  • wealth management,
  • treasury,
  • transaction banking.
This improved capital allocation and profitability.

Phase VI: Digital Transformation (2010&ndash 2025)

Rather than defending traditional banking models, the banks invested heavily in technology.
DBS became internationally recognised for digital banking.
OCBC expanded digital wealth management and insurance integration.
UOB strengthened regional digital banking and cross-border services.
Digital investments delivered:
  • lower operating costs,
  • improved customer experience,
  • higher productivity,
  • stronger fee income,
  • greater scalability.

Phase VII: COVID-19 and Rising Interest Rates (2020&ndash 2026)

The COVID-19 pandemic tested the resilience of the banking sector.
Despite economic disruption:
  • loan losses remained manageable,
  • capital ratios stayed strong,
  • dividends resumed after temporary regulatory caution.
When global interest rates increased from 2022 onward, higher net interest margins drove record earnings and strengthened shareholder returns.

Looking Ahead: 2026&ndash 2030

Future growth is likely to be driven by:
  • ASEAN economic expansion,
  • wealth management,
  • digital banking,
  • artificial intelligence,
  • cross-border payments,
  • sustainable finance.
While interest rates may normalise, these structural trends provide new opportunities for long-term growth.

Key Strategic Pillars of Success

1. Consolidation

Fewer, stronger banks achieved:
  • greater scale,
  • lower costs,
  • stronger market positions,
  • improved competitiveness.

2. Focused Capital Allocation

Resources were concentrated on high-return banking businesses rather than unrelated industries.

3. Conservative Risk Management

Disciplined lending, strong provisioning, and robust capital buffers allowed the banks to navigate multiple crises.

4. Continuous Investment

Long-term investment in technology, people, and regional expansion positioned the banks for sustained growth.

5. Shareholder Discipline

Growing earnings translated into:
  • rising dividends,
  • stronger return on equity,
  • capital appreciation,
  • disciplined capital returns.

Lessons from Six Decades (1965&ndash 2030)

The journey of DBS, OCBC, and UOB demonstrates that enduring shareholder value is built over decades rather than years. These banks have navigated multiple crises&mdash including the 1985 recession, the 1997 Asian Financial Crisis, the 2000 dot-com downturn, SARS in 2003, the 2008 Global Financial Crisis, the COVID-19 pandemic, and periods of sharply rising interest rates&mdash while continuing to strengthen their franchises.
Their success has rested on a consistent strategy:
  • consolidating to achieve scale,
  • allocating capital prudently,
  • maintaining conservative risk management,
  • investing continuously in technology and regional growth,
  • and returning capital to shareholders through sustainable dividends.
The result has been the transformation of three domestic banks into internationally respected financial institutions. For long-term shareholders, this strategy has produced rising earnings, stronger returns on equity, increasing dividends, and substantial wealth creation over more than six decades. It illustrates how disciplined management, patient investment, and strategic adaptability can compound value across generations rather than merely over market cycles.
 
 
 
 


 Useful To Me  Not Useful To Me


chartiskao
Supreme
21-Jul-2026 16:52     
 
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https://www.youtube.com/watch?v=NGEVMhSPcIQ& list=RDNGEVMhSPcIQ& start_radio=1

This song, 《 愛 一 個 人 好 難 》 (" Loving Someone Is Hard" ), is about unrequited love, emotional uncertainty, and the pain of letting go. It is not simply a breakup song&mdash it portrays the inner struggle of someone who still loves deeply while the other person has already chosen to move on.
Below is an interpretation of the lyrics in natural English, focusing on the emotional meaning rather than a literal translation.

Opening

妳 說 妳 還 是 喜 歡 孤 單 ， 其 實 妳 怕 被 我 看 穿
Literal meaning:
" You said you still prefer being alone, but actually you' re afraid I' ll see through you."
Emotional meaning:
The singer believes the other person is using " I like being alone" as a shield.
Deep inside, she may still have feelings, but she is afraid of admitting them.
It is easier to hide behind loneliness than to risk being hurt again.
妳 怕 屬 於 我 們 的 船 ， 漂 漂 蕩 蕩 靠 不 了 岸
Literal meaning:
" You' re afraid the boat that belongs to us will drift forever without reaching shore."
Meaning:
The relationship is compared to a boat.
She fears:
  • uncertainty
  • instability
  • no future together
She worries they will never find a safe place where the relationship can truly settle.
The boat symbolizes hope.
The shore symbolizes security and commitment.

Acceptance Without Answers

事 到 如 今 沒 有 答 案
" Even now, there is still no answer."
Time has passed.
Questions remain unanswered.
Why did everything end?
The singer still doesn' t know.
我 的 真 心 為 妳 牽 絆
" My heart is still tied to you."
Although the relationship has ended,
his emotions remain connected.
He cannot simply let go.
不 管 相 見 的 夜 多 麼 難 堪
" No matter how awkward or painful it is when we meet."
Meeting again only reminds them of what has been lost.
Yet those meetings still matter because the feelings have not disappeared.
簡 簡 單 單 的 說 ， 愛 是 不 愛
" Just tell me simply&mdash do you love me or not?"
The singer no longer wants ambiguity.
He wants honesty.
Even a painful truth is better than endless uncertainty.

The Difficulty of Letting Go

想 要 把 妳 忘 記 真 的 好 難
" Trying to forget you is incredibly difficult."
Memory refuses to disappear.
Love leaves traces that cannot simply be erased.
思 念 的 痛 在 我 心 裡 糾 纏
" The pain of missing you keeps twisting inside my heart."
Longing has become constant.
It is no longer a passing emotion.
It has become part of daily life.
朝 朝 暮 暮 的 期 盼 ， 永 遠 沒 有 答 案
" Day after day, I keep hoping&mdash but no answer ever comes."
Every morning.
Every night.
Hope continues.
The silence never ends.
為 何 當 初 妳 選 擇 一 刀 兩 斷
" Why did you choose to cut everything off so completely?"
The phrase 一 刀 兩 斷 literally means " to cut with one stroke."
Emotionally it means:
  • ending the relationship completely
  • leaving no room for reconciliation
  • making a clean break
The singer cannot understand why the ending had to be so absolute.

Love Without Assurance

聽 妳 說 聲 愛 我 真 的 好 難
" Hearing you say ' I love you' has become impossible."
Not because the words are difficult,
but because they will probably never be spoken again.
曾 經 說 過 的 話 風 吹 雲 散
" The promises we once made have been scattered like clouds in the wind."
Promises once felt permanent.
Now they have disappeared,
as though carried away by the wind.

Two People Trapped

站 在 天 秤 的 兩 端 ， 一 樣 的 為 難
" We stand on opposite sides of the balance, equally torn."
Both people suffer.
Perhaps for different reasons.
One cannot move forward.
The other cannot move back.
The balance never settles.

Final Realisation

唯 一 的 答 案 ， 愛 一 個 人 好 難
" The only answer is this: loving someone is hard."
After all the questions,
all the waiting,
all the tears,
the singer arrives at one simple truth.
Love itself is difficult.
Not because love is wrong,
but because:
  • people change,
  • timing changes,
  • circumstances change,
  • feelings are not always equal.

The Core Meaning of the Song

This song explores several universal emotions:

Love cannot be forced.

One person may continue loving,
while the other has already chosen another path.

Some questions never receive answers.

The singer never learns exactly why the relationship ended.
Sometimes life offers no complete explanation.

Letting go is often harder than falling in love.

The relationship may end in a moment,
but healing can take much longer.

Honesty is kinder than uncertainty.

The repeated request&mdash
" Tell me simply: do you love me or not?"
shows that clarity, even when painful, is often easier to bear than endless doubt.

The Last Line

唯 一 的 答 案 ， 愛 一 個 人 好 難
The final line carries the emotional weight of the entire song.
It does not mean that love is hopeless.
Rather, it recognises that genuine love requires vulnerability. When you care deeply about someone, you cannot completely protect yourself from disappointment, misunderstanding, or loss.
The singer' s conclusion is one of acceptance:
The hardest part of loving someone is not falling in love&mdash it is accepting that love alone cannot always determine the outcome.
 
 
 
 


chartiskao      ( Date: 21-Jul-2026 10:12) Posted:

they set the rukes and all must followed the rules they set

https://www.youtube.com/watch?v=81WhM9dOcYI& list=RD81WhM9dOcYI& start_radio=1

From Independence to Global Banking Champions (1965&ndash 2030)

How DBS, OCBC and UOB Created Extraordinary Long-Term Shareholder Value

Singapore' s banking industry is one of the country' s greatest economic success stories. From a newly independent nation with a small domestic market in 1965, Singapore has built three banking groups&mdash DBS, OCBC and UOB&mdash that rank among Asia' s strongest financial institutions.
This transformation was not driven by rapid expansion alone. It resulted from careful consolidation, disciplined capital allocation, conservative risk management, continuous investment in technology, and long-term strategic planning.

Phase I: Building a Financial Centre (1965&ndash 1985)

When Singapore became independent in 1965:
  • GDP per capita was below US$600.
  • The domestic banking sector was relatively small.
  • Most businesses relied on trade finance and basic commercial banking.
  • The government aimed to establish Singapore as an international financial centre.

DBS: Created to Support National Development

DBS was founded in 1968 as the Development Bank of Singapore.
Its original role was not retail banking but financing:
  • industrialisation,
  • infrastructure,
  • manufacturing,
  • export-oriented companies.
As Singapore' s economy expanded, DBS evolved into a full commercial bank.

OCBC and UOB

Unlike DBS, OCBC and UOB were privately established banks with deep roots in serving Chinese businesses, SMEs, and family-owned enterprises. They expanded alongside Singapore' s export-driven growth.

Phase II: Regional Expansion (1985&ndash 1997)

As Singapore' s economy matured, the banks diversified beyond traditional lending.
They invested in:
  • trade finance,
  • treasury,
  • corporate banking,
  • investment banking,
  • wealth management,
  • regional expansion into ASEAN.
By the mid-1990s, all three had become profitable regional banks.

Phase III: The Asian Financial Crisis (1997&ndash 1999)

The Asian Financial Crisis exposed weaknesses across many Asian banking systems.
Singapore' s banks proved comparatively resilient because they had:
  • conservative lending standards,
  • strong regulatory oversight,
  • prudent provisioning,
  • relatively healthy capital positions.
The crisis also highlighted that Singapore had too many domestic banks for such a small market.

Phase IV: Banking Consolidation (1998&ndash 2004)

This was the defining period for Singapore banking.
The industry moved from five major banks to three.
Before After
DBS DBS
OCBC OCBC
UOB UOB
OUB Merged into UOB
Keppel TatLee Merged into OCBC
 
Major transactions included:
  • DBS acquiring POSBank (1998).
  • OCBC acquiring Keppel TatLee Bank (2001).
  • UOB acquiring OUB (2001).
The objectives were clear:
  • achieve economies of scale,
  • strengthen balance sheets,
  • improve efficiency,
  • prepare for greater foreign competition,
  • create banks capable of competing across Asia.

Phase V: Refocusing on Core Banking (2000&ndash 2015)

Following consolidation, the banks streamlined their operations.
They reduced exposure to unrelated businesses and concentrated on areas where they had clear competitive advantages:
  • consumer banking,
  • commercial banking,
  • corporate banking,
  • wealth management,
  • treasury,
  • transaction banking.
This improved capital allocation and profitability.

Phase VI: Digital Transformation (2010&ndash 2025)

Rather than defending traditional banking models, the banks invested heavily in technology.
DBS became internationally recognised for digital banking.
OCBC expanded digital wealth management and insurance integration.
UOB strengthened regional digital banking and cross-border services.
Digital investments delivered:
  • lower operating costs,
  • improved customer experience,
  • higher productivity,
  • stronger fee income,
  • greater scalability.

Phase VII: COVID-19 and Rising Interest Rates (2020&ndash 2026)

The COVID-19 pandemic tested the resilience of the banking sector.
Despite economic disruption:
  • loan losses remained manageable,
  • capital ratios stayed strong,
  • dividends resumed after temporary regulatory caution.
When global interest rates increased from 2022 onward, higher net interest margins drove record earnings and strengthened shareholder returns.

Looking Ahead: 2026&ndash 2030

Future growth is likely to be driven by:
  • ASEAN economic expansion,
  • wealth management,
  • digital banking,
  • artificial intelligence,
  • cross-border payments,
  • sustainable finance.
While interest rates may normalise, these structural trends provide new opportunities for long-term growth.

Key Strategic Pillars of Success

1. Consolidation

Fewer, stronger banks achieved:
  • greater scale,
  • lower costs,
  • stronger market positions,
  • improved competitiveness.

2. Focused Capital Allocation

Resources were concentrated on high-return banking businesses rather than unrelated industries.

3. Conservative Risk Management

Disciplined lending, strong provisioning, and robust capital buffers allowed the banks to navigate multiple crises.

4. Continuous Investment

Long-term investment in technology, people, and regional expansion positioned the banks for sustained growth.

5. Shareholder Discipline

Growing earnings translated into:
  • rising dividends,
  • stronger return on equity,
  • capital appreciation,
  • disciplined capital returns.

Lessons from Six Decades (1965&ndash 2030)

The journey of DBS, OCBC, and UOB demonstrates that enduring shareholder value is built over decades rather than years. These banks have navigated multiple crises&mdash including the 1985 recession, the 1997 Asian Financial Crisis, the 2000 dot-com downturn, SARS in 2003, the 2008 Global Financial Crisis, the COVID-19 pandemic, and periods of sharply rising interest rates&mdash while continuing to strengthen their franchises.
Their success has rested on a consistent strategy:
  • consolidating to achieve scale,
  • allocating capital prudently,
  • maintaining conservative risk management,
  • investing continuously in technology and regional growth,
  • and returning capital to shareholders through sustainable dividends.
The result has been the transformation of three domestic banks into internationally respected financial institutions. For long-term shareholders, this strategy has produced rising earnings, stronger returns on equity, increasing dividends, and substantial wealth creation over more than six decades. It illustrates how disciplined management, patient investment, and strategic adaptability can compound value across generations rather than merely over market cycles.
 
 
 
 


chartiskao      ( Date: 20-Jul-2026 09:58) Posted:

https://www.youtube.com/watch?v=7fqEv7_8cvU& list=RD7fqEv7_8cvU& start_radio=1

when the three singapore banks share price at all time low in october 2020

The themes of 愛 一 個 人 好 難 can be a powerful metaphor for investing&mdash not because investing is the same as a relationship, but because both require long-term commitment despite uncertainty.

Why is it so difficult?

English

Long-term investing is difficult for reasons that have little to do with mathematics and much to do with human nature.
It is difficult to be patient because the market rewards excitement every day but often rewards patience only after many years.
It is difficult to stay committed because every cycle produces a new story that sounds more convincing than the last.
It is difficult to ignore the noise because financial news never stops.
Every day there are:
  • new predictions,
  • new fears,
  • new " can' t-miss" opportunities,
  • new reasons why " this time is different."
It is difficult to think independently because humans are social.
For thousands of years, following the crowd improved survival.
In investing, however, following the crowd at the wrong time can mean buying after prices have already risen sharply or selling after they have already fallen significantly.
Independent thinking is uncomfortable because it often means looking wrong for a period before the outcome becomes clear.
That is why investors such as Warren Buffett have repeatedly emphasized temperament over IQ.
Markets test your emotions much more often than they test your intelligence.

Looking Back at Your Journey

From your perspective, having experienced:
  • 1973 Oil Crisis
  • 1985 Pan-Electric Crisis
  • 1987 Black Monday
  • 1997&ndash 1998 Asian Financial Crisis
  • 2000 Dot-com collapse
  • 2003 SARS
  • 2008 Global Financial Crisis
  • 2013&ndash 2014 Singapore penny-stock episode
  • 2020 COVID-19
  • 2022&ndash 2023 rapid interest-rate increases
  • today' s AI era
the greatest lesson is not that every crisis was predictable.
It is that every crisis eventually ended, even though, while living through it, many people felt the situation might never improve.
That perspective is difficult to gain from books alone. It comes from experience.

《 愛 一 個 人 好 難 》 &rarr 《 堅 持 投 資 好 難 》

中 文

很 多 人 問 ：
為 什 麼 耐 心 這 麼 難 ？
因 為 市 場 每 天 都 在 誘 惑 你 。
今 天 有 人 說 AI改 變 世 界 。
明 天 有 人 說 房 地 產 完 了 。
後 天 又 有 人 說 美 元 要 崩 潰 。
每 天 都 有 新 的 故 事 。
每 天 都 有 新 的 聲 音 。
真 正 困 難 的 ，
不 是 分 析 財 報 。
不 是 計 算 估 值 。
而 是 關 掉 所 有 雜 音 ，
相 信 自 己 多 年 建 立 的 投 資 原 則 。
獨 立 思 考 ，
從 來 不 是 一 件 容 易 的 事 。
因 為 人 天 生 害 怕 與 大 多 數 人 不 同 。
牛 市 時 ，
大 家 都 在 買 ，
你 不 買 ，
會 懷 疑 自 己 。
熊 市 時 ，
大 家 都 在 賣 ，
你 不 賣 ，
更 會 懷 疑 自 己 。
所 以 ，
真 正 考 驗 投 資 人 的 ，
不 是 市 場 。
而 是 自 己 的 內 心 。
走 過 一 次 又 一 次 金 融 危 機 ，
你 才 慢 慢 明 白 ：
市 場 每 天 都 會 改 變 ，
原 則 不 能 每 天 改 變 。
價 格 每 天 都 會 波 動 ，
價 值 不 會 每 天 改 變 。
新 聞 每 天 都 有 新 的 標 題 ，
真 正 重 要 的 企 業 ， 仍 然 一 天 一 天 創 造 價 值 。

The Deeper Lesson

If there is one lesson that connects the song' s themes with investing, it is this:
Commitment is easy when everything is going well. It is tested when doubts appear.
For relationships, the test comes through misunderstanding, distance, and difficult seasons.
For investing, the test comes through bear markets, recessions, bubbles, crises, and endless market noise.
In both cases, commitment does not mean refusing to learn or ignoring evidence. It means distinguishing between temporary emotion and lasting value. Long-term investing requires adapting when the facts change, while resisting the temptation to abandon sound principles simply because the crowd has become fearful or euphoric.
That balance&mdash remaining open to new information without being swept away by every new headline&mdash is one of the hardest skills an investor can develop over a lifetime.
 
 
 
 


 Useful To Me  Not Useful To Me
chartiskao
Supreme
21-Jul-2026 10:12     
 
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they set the rukes and all must followed the rules they set

https://www.youtube.com/watch?v=81WhM9dOcYI& list=RD81WhM9dOcYI& start_radio=1

From Independence to Global Banking Champions (1965&ndash 2030)

How DBS, OCBC and UOB Created Extraordinary Long-Term Shareholder Value

Singapore' s banking industry is one of the country' s greatest economic success stories. From a newly independent nation with a small domestic market in 1965, Singapore has built three banking groups&mdash DBS, OCBC and UOB&mdash that rank among Asia' s strongest financial institutions.
This transformation was not driven by rapid expansion alone. It resulted from careful consolidation, disciplined capital allocation, conservative risk management, continuous investment in technology, and long-term strategic planning.

Phase I: Building a Financial Centre (1965&ndash 1985)

When Singapore became independent in 1965:
  • GDP per capita was below US$600.
  • The domestic banking sector was relatively small.
  • Most businesses relied on trade finance and basic commercial banking.
  • The government aimed to establish Singapore as an international financial centre.

DBS: Created to Support National Development

DBS was founded in 1968 as the Development Bank of Singapore.
Its original role was not retail banking but financing:
  • industrialisation,
  • infrastructure,
  • manufacturing,
  • export-oriented companies.
As Singapore' s economy expanded, DBS evolved into a full commercial bank.

OCBC and UOB

Unlike DBS, OCBC and UOB were privately established banks with deep roots in serving Chinese businesses, SMEs, and family-owned enterprises. They expanded alongside Singapore' s export-driven growth.

Phase II: Regional Expansion (1985&ndash 1997)

As Singapore' s economy matured, the banks diversified beyond traditional lending.
They invested in:
  • trade finance,
  • treasury,
  • corporate banking,
  • investment banking,
  • wealth management,
  • regional expansion into ASEAN.
By the mid-1990s, all three had become profitable regional banks.

Phase III: The Asian Financial Crisis (1997&ndash 1999)

The Asian Financial Crisis exposed weaknesses across many Asian banking systems.
Singapore' s banks proved comparatively resilient because they had:
  • conservative lending standards,
  • strong regulatory oversight,
  • prudent provisioning,
  • relatively healthy capital positions.
The crisis also highlighted that Singapore had too many domestic banks for such a small market.

Phase IV: Banking Consolidation (1998&ndash 2004)

This was the defining period for Singapore banking.
The industry moved from five major banks to three.
Before After
DBS DBS
OCBC OCBC
UOB UOB
OUB Merged into UOB
Keppel TatLee Merged into OCBC
 
Major transactions included:
  • DBS acquiring POSBank (1998).
  • OCBC acquiring Keppel TatLee Bank (2001).
  • UOB acquiring OUB (2001).
The objectives were clear:
  • achieve economies of scale,
  • strengthen balance sheets,
  • improve efficiency,
  • prepare for greater foreign competition,
  • create banks capable of competing across Asia.

Phase V: Refocusing on Core Banking (2000&ndash 2015)

Following consolidation, the banks streamlined their operations.
They reduced exposure to unrelated businesses and concentrated on areas where they had clear competitive advantages:
  • consumer banking,
  • commercial banking,
  • corporate banking,
  • wealth management,
  • treasury,
  • transaction banking.
This improved capital allocation and profitability.

Phase VI: Digital Transformation (2010&ndash 2025)

Rather than defending traditional banking models, the banks invested heavily in technology.
DBS became internationally recognised for digital banking.
OCBC expanded digital wealth management and insurance integration.
UOB strengthened regional digital banking and cross-border services.
Digital investments delivered:
  • lower operating costs,
  • improved customer experience,
  • higher productivity,
  • stronger fee income,
  • greater scalability.

Phase VII: COVID-19 and Rising Interest Rates (2020&ndash 2026)

The COVID-19 pandemic tested the resilience of the banking sector.
Despite economic disruption:
  • loan losses remained manageable,
  • capital ratios stayed strong,
  • dividends resumed after temporary regulatory caution.
When global interest rates increased from 2022 onward, higher net interest margins drove record earnings and strengthened shareholder returns.

Looking Ahead: 2026&ndash 2030

Future growth is likely to be driven by:
  • ASEAN economic expansion,
  • wealth management,
  • digital banking,
  • artificial intelligence,
  • cross-border payments,
  • sustainable finance.
While interest rates may normalise, these structural trends provide new opportunities for long-term growth.

Key Strategic Pillars of Success

1. Consolidation

Fewer, stronger banks achieved:
  • greater scale,
  • lower costs,
  • stronger market positions,
  • improved competitiveness.

2. Focused Capital Allocation

Resources were concentrated on high-return banking businesses rather than unrelated industries.

3. Conservative Risk Management

Disciplined lending, strong provisioning, and robust capital buffers allowed the banks to navigate multiple crises.

4. Continuous Investment

Long-term investment in technology, people, and regional expansion positioned the banks for sustained growth.

5. Shareholder Discipline

Growing earnings translated into:
  • rising dividends,
  • stronger return on equity,
  • capital appreciation,
  • disciplined capital returns.

Lessons from Six Decades (1965&ndash 2030)

The journey of DBS, OCBC, and UOB demonstrates that enduring shareholder value is built over decades rather than years. These banks have navigated multiple crises&mdash including the 1985 recession, the 1997 Asian Financial Crisis, the 2000 dot-com downturn, SARS in 2003, the 2008 Global Financial Crisis, the COVID-19 pandemic, and periods of sharply rising interest rates&mdash while continuing to strengthen their franchises.
Their success has rested on a consistent strategy:
  • consolidating to achieve scale,
  • allocating capital prudently,
  • maintaining conservative risk management,
  • investing continuously in technology and regional growth,
  • and returning capital to shareholders through sustainable dividends.
The result has been the transformation of three domestic banks into internationally respected financial institutions. For long-term shareholders, this strategy has produced rising earnings, stronger returns on equity, increasing dividends, and substantial wealth creation over more than six decades. It illustrates how disciplined management, patient investment, and strategic adaptability can compound value across generations rather than merely over market cycles.
 
 
 
 


chartiskao      ( Date: 20-Jul-2026 09:58) Posted:

https://www.youtube.com/watch?v=7fqEv7_8cvU& list=RD7fqEv7_8cvU& start_radio=1

when the three singapore banks share price at all time low in october 2020

The themes of 愛 一 個 人 好 難 can be a powerful metaphor for investing&mdash not because investing is the same as a relationship, but because both require long-term commitment despite uncertainty.

Why is it so difficult?

English

Long-term investing is difficult for reasons that have little to do with mathematics and much to do with human nature.
It is difficult to be patient because the market rewards excitement every day but often rewards patience only after many years.
It is difficult to stay committed because every cycle produces a new story that sounds more convincing than the last.
It is difficult to ignore the noise because financial news never stops.
Every day there are:
  • new predictions,
  • new fears,
  • new " can' t-miss" opportunities,
  • new reasons why " this time is different."
It is difficult to think independently because humans are social.
For thousands of years, following the crowd improved survival.
In investing, however, following the crowd at the wrong time can mean buying after prices have already risen sharply or selling after they have already fallen significantly.
Independent thinking is uncomfortable because it often means looking wrong for a period before the outcome becomes clear.
That is why investors such as Warren Buffett have repeatedly emphasized temperament over IQ.
Markets test your emotions much more often than they test your intelligence.

Looking Back at Your Journey

From your perspective, having experienced:
  • 1973 Oil Crisis
  • 1985 Pan-Electric Crisis
  • 1987 Black Monday
  • 1997&ndash 1998 Asian Financial Crisis
  • 2000 Dot-com collapse
  • 2003 SARS
  • 2008 Global Financial Crisis
  • 2013&ndash 2014 Singapore penny-stock episode
  • 2020 COVID-19
  • 2022&ndash 2023 rapid interest-rate increases
  • today' s AI era
the greatest lesson is not that every crisis was predictable.
It is that every crisis eventually ended, even though, while living through it, many people felt the situation might never improve.
That perspective is difficult to gain from books alone. It comes from experience.

《 愛 一 個 人 好 難 》 &rarr 《 堅 持 投 資 好 難 》

中 文

很 多 人 問 ：
為 什 麼 耐 心 這 麼 難 ？
因 為 市 場 每 天 都 在 誘 惑 你 。
今 天 有 人 說 AI改 變 世 界 。
明 天 有 人 說 房 地 產 完 了 。
後 天 又 有 人 說 美 元 要 崩 潰 。
每 天 都 有 新 的 故 事 。
每 天 都 有 新 的 聲 音 。
真 正 困 難 的 ，
不 是 分 析 財 報 。
不 是 計 算 估 值 。
而 是 關 掉 所 有 雜 音 ，
相 信 自 己 多 年 建 立 的 投 資 原 則 。
獨 立 思 考 ，
從 來 不 是 一 件 容 易 的 事 。
因 為 人 天 生 害 怕 與 大 多 數 人 不 同 。
牛 市 時 ，
大 家 都 在 買 ，
你 不 買 ，
會 懷 疑 自 己 。
熊 市 時 ，
大 家 都 在 賣 ，
你 不 賣 ，
更 會 懷 疑 自 己 。
所 以 ，
真 正 考 驗 投 資 人 的 ，
不 是 市 場 。
而 是 自 己 的 內 心 。
走 過 一 次 又 一 次 金 融 危 機 ，
你 才 慢 慢 明 白 ：
市 場 每 天 都 會 改 變 ，
原 則 不 能 每 天 改 變 。
價 格 每 天 都 會 波 動 ，
價 值 不 會 每 天 改 變 。
新 聞 每 天 都 有 新 的 標 題 ，
真 正 重 要 的 企 業 ， 仍 然 一 天 一 天 創 造 價 值 。

The Deeper Lesson

If there is one lesson that connects the song' s themes with investing, it is this:
Commitment is easy when everything is going well. It is tested when doubts appear.
For relationships, the test comes through misunderstanding, distance, and difficult seasons.
For investing, the test comes through bear markets, recessions, bubbles, crises, and endless market noise.
In both cases, commitment does not mean refusing to learn or ignoring evidence. It means distinguishing between temporary emotion and lasting value. Long-term investing requires adapting when the facts change, while resisting the temptation to abandon sound principles simply because the crowd has become fearful or euphoric.
That balance&mdash remaining open to new information without being swept away by every new headline&mdash is one of the hardest skills an investor can develop over a lifetime.
 
 
 
 


chartiskao      ( Date: 19-Jul-2026 06:23) Posted:

The report correctly highlights:
  • The importance of Singapore' s exchange-rate-based monetary policy.
  • The resilience of DBS, OCBC, and UOB' s deposit franchises.
  • The significance of NIM and deposit mix.
  • The possibility that domestic rates remain higher than previously expected.
Where it can be improved is avoiding statements that imply a direct, mechanical relationship between MAS policy and SORA.

1. MAS Policy Framework

This section is largely accurate.
Singapore does not target interest rates directly.
Instead, MAS manages inflation by managing the SGD Nominal Effective Exchange Rate (S$NEER).
A stronger SGD reduces:
  • imported oil prices
  • imported food inflation
  • imported manufactured goods
which helps contain inflation.
One nuance is worth adding.
MAS does not set SORA.
SORA is a market-derived overnight unsecured interbank rate.
MAS policy influences liquidity conditions and market expectations, but SORA also reflects:
  • US dollar interest rates
  • SGD liquidity
  • banking system funding conditions
  • global capital flows
A tighter S$NEER stance may contribute to firmer domestic rates, but it does not guarantee that SORA remains elevated if global interest rates decline significantly.
A more balanced wording would be:
" A restrictive exchange-rate policy can help keep domestic funding conditions firmer than they otherwise would be, supporting SORA relative to expectations."

2. NIM Analysis

This is your strongest section.

Floating-rate repricing

Correct.
Singapore loans are heavily linked to:
  • 1M SORA
  • 3M SORA
  • compounded SORA
Higher SORA means:
Higher loan yield
&darr
Higher interest income

Deposit beta

Excellent point.
Deposit beta refers to:
How much deposit costs rise compared with market interest rates.
Singapore' s banking industry enjoys:
  • enormous CASA balances
  • sticky payroll accounts
  • transaction banking
  • wealth management deposits
Therefore:
Loan yields may rise faster than deposit costs.
This is exactly why DBS achieved record NIMs during 2023&ndash 2025.

Investment portfolio

Mostly correct.
Banks continuously reinvest excess liquidity into:
  • Singapore Government Securities
  • MAS Bills
  • other high-quality liquid assets
However,
their securities portfolios are only one contributor.
Loan books remain the dominant earnings driver.
You could state:
Investment portfolio reinvestment provides incremental support to NIM, but loan repricing remains the principal earnings engine.

3. DBS vs OCBC vs UOB

This comparison is quite good.

DBS

Strongest beneficiary.
Reasons:
  • largest CASA base
  • highest digital banking penetration
  • strongest fee income
  • largest institutional franchise
Highest sensitivity to rates.
I agree.

OCBC

Also accurate.
OCBC has two major stabilizers:
  • Great Eastern
  • Bank of Singapore
Higher rates often increase demand for:
  • fixed-income investments
  • structured deposits
  • treasury products
Its earnings mix is more diversified.

UOB

Reasonable assessment.
UOB' s ASEAN commercial banking exposure means:
Advantages:
  • higher loan yields
Disadvantages:
  • greater SME sensitivity
If energy prices remain high long enough to slow regional growth,
credit costs could rise.

4. Dividends

This section needs slightly more caution.
You wrote:
Extraordinary dividends are structurally supported.
I would soften that.
Dividends depend on:
  • profitability
  • capital ratios
  • regulatory guidance
  • credit provisions
  • share buybacks
Higher rates help.
But if an oil shock eventually causes:
  • recession
  • corporate defaults
  • higher loan-loss provisions
then profits may decline despite elevated NIMs.
A better statement:
Sustained higher interest rates improve the probability that ordinary dividends remain robust, although special dividends will continue to depend on earnings, capital levels and credit conditions.

5. Missing Risks

Institutional investors would likely expect these downside scenarios to be acknowledged.

Credit costs

Higher rates eventually increase:
  • SME stress
  • mortgage stress
  • commercial real estate risk
Higher NIM
does not equal
higher profits
if loan-loss provisions rise materially.

Loan growth

Companies borrow less when:
  • financing costs rise
  • investment slows
Banks earn more per dollar lent,
but they may lend fewer dollars.

Wealth management

Market volatility has mixed effects.
Positive:
Clients buy:
  • bonds
  • fixed-income funds
  • structured products
Negative:
Equity trading
IPO activity
Investment banking
may weaken.

6. Long-Term Structural View

This is where your report is strongest.
Even if rates eventually decline,
Singapore banks today are fundamentally different from a decade ago.
Compared with 2015:
  • much stronger CET1 ratios
  • higher CASA balances
  • more digital operations
  • lower cost-to-income ratios
  • disciplined capital management
  • significant share buybacks
  • more diversified regional businesses
This means their earnings base is structurally stronger than during the prolonged low-rate era.

Final Verdict

This is a thoughtful macro-to-equity analysis that correctly emphasizes the resilience of Singapore' s banking sector under a scenario of persistent imported inflation. The strongest elements are the discussion of deposit franchises, loan repricing, and the differentiated strengths of DBS, OCBC, and UOB.
To make it read more like a professional research note, I would make four refinements:
  1. Clarify that MAS influences, but does not directly determine, SORA.
  2. Acknowledge that higher NIMs can be offset by weaker loan growth and higher credit costs if an energy shock slows the economy.
  3. Distinguish between the sustainability of ordinary dividends and the discretionary nature of special dividends.
  4. Present the outlook as scenario-dependent rather than assuming inflation above 2% will necessarily persist.
With those adjustments, the analysis would be balanced, internally consistent, and comparable in style to a macro strategy note from a major investment bank.
 
 
 
 


 Useful To Me  Not Useful To Me
chartiskao
Supreme
20-Jul-2026 09:58     
 
chartiskao About Contact  Quote this Post!  
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 Alert Admin
https://www.youtube.com/watch?v=7fqEv7_8cvU& list=RD7fqEv7_8cvU& start_radio=1

when the three singapore banks share price at all time low in october 2020

The themes of 愛 一 個 人 好 難 can be a powerful metaphor for investing&mdash not because investing is the same as a relationship, but because both require long-term commitment despite uncertainty.

Why is it so difficult?

English

Long-term investing is difficult for reasons that have little to do with mathematics and much to do with human nature.
It is difficult to be patient because the market rewards excitement every day but often rewards patience only after many years.
It is difficult to stay committed because every cycle produces a new story that sounds more convincing than the last.
It is difficult to ignore the noise because financial news never stops.
Every day there are:
  • new predictions,
  • new fears,
  • new " can' t-miss" opportunities,
  • new reasons why " this time is different."
It is difficult to think independently because humans are social.
For thousands of years, following the crowd improved survival.
In investing, however, following the crowd at the wrong time can mean buying after prices have already risen sharply or selling after they have already fallen significantly.
Independent thinking is uncomfortable because it often means looking wrong for a period before the outcome becomes clear.
That is why investors such as Warren Buffett have repeatedly emphasized temperament over IQ.
Markets test your emotions much more often than they test your intelligence.

Looking Back at Your Journey

From your perspective, having experienced:
  • 1973 Oil Crisis
  • 1985 Pan-Electric Crisis
  • 1987 Black Monday
  • 1997&ndash 1998 Asian Financial Crisis
  • 2000 Dot-com collapse
  • 2003 SARS
  • 2008 Global Financial Crisis
  • 2013&ndash 2014 Singapore penny-stock episode
  • 2020 COVID-19
  • 2022&ndash 2023 rapid interest-rate increases
  • today' s AI era
the greatest lesson is not that every crisis was predictable.
It is that every crisis eventually ended, even though, while living through it, many people felt the situation might never improve.
That perspective is difficult to gain from books alone. It comes from experience.

《 愛 一 個 人 好 難 》 &rarr 《 堅 持 投 資 好 難 》

中 文

很 多 人 問 ：
為 什 麼 耐 心 這 麼 難 ？
因 為 市 場 每 天 都 在 誘 惑 你 。
今 天 有 人 說 AI改 變 世 界 。
明 天 有 人 說 房 地 產 完 了 。
後 天 又 有 人 說 美 元 要 崩 潰 。
每 天 都 有 新 的 故 事 。
每 天 都 有 新 的 聲 音 。
真 正 困 難 的 ，
不 是 分 析 財 報 。
不 是 計 算 估 值 。
而 是 關 掉 所 有 雜 音 ，
相 信 自 己 多 年 建 立 的 投 資 原 則 。
獨 立 思 考 ，
從 來 不 是 一 件 容 易 的 事 。
因 為 人 天 生 害 怕 與 大 多 數 人 不 同 。
牛 市 時 ，
大 家 都 在 買 ，
你 不 買 ，
會 懷 疑 自 己 。
熊 市 時 ，
大 家 都 在 賣 ，
你 不 賣 ，
更 會 懷 疑 自 己 。
所 以 ，
真 正 考 驗 投 資 人 的 ，
不 是 市 場 。
而 是 自 己 的 內 心 。
走 過 一 次 又 一 次 金 融 危 機 ，
你 才 慢 慢 明 白 ：
市 場 每 天 都 會 改 變 ，
原 則 不 能 每 天 改 變 。
價 格 每 天 都 會 波 動 ，
價 值 不 會 每 天 改 變 。
新 聞 每 天 都 有 新 的 標 題 ，
真 正 重 要 的 企 業 ， 仍 然 一 天 一 天 創 造 價 值 。

The Deeper Lesson

If there is one lesson that connects the song' s themes with investing, it is this:
Commitment is easy when everything is going well. It is tested when doubts appear.
For relationships, the test comes through misunderstanding, distance, and difficult seasons.
For investing, the test comes through bear markets, recessions, bubbles, crises, and endless market noise.
In both cases, commitment does not mean refusing to learn or ignoring evidence. It means distinguishing between temporary emotion and lasting value. Long-term investing requires adapting when the facts change, while resisting the temptation to abandon sound principles simply because the crowd has become fearful or euphoric.
That balance&mdash remaining open to new information without being swept away by every new headline&mdash is one of the hardest skills an investor can develop over a lifetime.
 
 
 
 


chartiskao      ( Date: 19-Jul-2026 06:23) Posted:

The report correctly highlights:
  • The importance of Singapore' s exchange-rate-based monetary policy.
  • The resilience of DBS, OCBC, and UOB' s deposit franchises.
  • The significance of NIM and deposit mix.
  • The possibility that domestic rates remain higher than previously expected.
Where it can be improved is avoiding statements that imply a direct, mechanical relationship between MAS policy and SORA.

1. MAS Policy Framework

This section is largely accurate.
Singapore does not target interest rates directly.
Instead, MAS manages inflation by managing the SGD Nominal Effective Exchange Rate (S$NEER).
A stronger SGD reduces:
  • imported oil prices
  • imported food inflation
  • imported manufactured goods
which helps contain inflation.
One nuance is worth adding.
MAS does not set SORA.
SORA is a market-derived overnight unsecured interbank rate.
MAS policy influences liquidity conditions and market expectations, but SORA also reflects:
  • US dollar interest rates
  • SGD liquidity
  • banking system funding conditions
  • global capital flows
A tighter S$NEER stance may contribute to firmer domestic rates, but it does not guarantee that SORA remains elevated if global interest rates decline significantly.
A more balanced wording would be:
" A restrictive exchange-rate policy can help keep domestic funding conditions firmer than they otherwise would be, supporting SORA relative to expectations."

2. NIM Analysis

This is your strongest section.

Floating-rate repricing

Correct.
Singapore loans are heavily linked to:
  • 1M SORA
  • 3M SORA
  • compounded SORA
Higher SORA means:
Higher loan yield
&darr
Higher interest income

Deposit beta

Excellent point.
Deposit beta refers to:
How much deposit costs rise compared with market interest rates.
Singapore' s banking industry enjoys:
  • enormous CASA balances
  • sticky payroll accounts
  • transaction banking
  • wealth management deposits
Therefore:
Loan yields may rise faster than deposit costs.
This is exactly why DBS achieved record NIMs during 2023&ndash 2025.

Investment portfolio

Mostly correct.
Banks continuously reinvest excess liquidity into:
  • Singapore Government Securities
  • MAS Bills
  • other high-quality liquid assets
However,
their securities portfolios are only one contributor.
Loan books remain the dominant earnings driver.
You could state:
Investment portfolio reinvestment provides incremental support to NIM, but loan repricing remains the principal earnings engine.

3. DBS vs OCBC vs UOB

This comparison is quite good.

DBS

Strongest beneficiary.
Reasons:
  • largest CASA base
  • highest digital banking penetration
  • strongest fee income
  • largest institutional franchise
Highest sensitivity to rates.
I agree.

OCBC

Also accurate.
OCBC has two major stabilizers:
  • Great Eastern
  • Bank of Singapore
Higher rates often increase demand for:
  • fixed-income investments
  • structured deposits
  • treasury products
Its earnings mix is more diversified.

UOB

Reasonable assessment.
UOB' s ASEAN commercial banking exposure means:
Advantages:
  • higher loan yields
Disadvantages:
  • greater SME sensitivity
If energy prices remain high long enough to slow regional growth,
credit costs could rise.

4. Dividends

This section needs slightly more caution.
You wrote:
Extraordinary dividends are structurally supported.
I would soften that.
Dividends depend on:
  • profitability
  • capital ratios
  • regulatory guidance
  • credit provisions
  • share buybacks
Higher rates help.
But if an oil shock eventually causes:
  • recession
  • corporate defaults
  • higher loan-loss provisions
then profits may decline despite elevated NIMs.
A better statement:
Sustained higher interest rates improve the probability that ordinary dividends remain robust, although special dividends will continue to depend on earnings, capital levels and credit conditions.

5. Missing Risks

Institutional investors would likely expect these downside scenarios to be acknowledged.

Credit costs

Higher rates eventually increase:
  • SME stress
  • mortgage stress
  • commercial real estate risk
Higher NIM
does not equal
higher profits
if loan-loss provisions rise materially.

Loan growth

Companies borrow less when:
  • financing costs rise
  • investment slows
Banks earn more per dollar lent,
but they may lend fewer dollars.

Wealth management

Market volatility has mixed effects.
Positive:
Clients buy:
  • bonds
  • fixed-income funds
  • structured products
Negative:
Equity trading
IPO activity
Investment banking
may weaken.

6. Long-Term Structural View

This is where your report is strongest.
Even if rates eventually decline,
Singapore banks today are fundamentally different from a decade ago.
Compared with 2015:
  • much stronger CET1 ratios
  • higher CASA balances
  • more digital operations
  • lower cost-to-income ratios
  • disciplined capital management
  • significant share buybacks
  • more diversified regional businesses
This means their earnings base is structurally stronger than during the prolonged low-rate era.

Final Verdict

This is a thoughtful macro-to-equity analysis that correctly emphasizes the resilience of Singapore' s banking sector under a scenario of persistent imported inflation. The strongest elements are the discussion of deposit franchises, loan repricing, and the differentiated strengths of DBS, OCBC, and UOB.
To make it read more like a professional research note, I would make four refinements:
  1. Clarify that MAS influences, but does not directly determine, SORA.
  2. Acknowledge that higher NIMs can be offset by weaker loan growth and higher credit costs if an energy shock slows the economy.
  3. Distinguish between the sustainability of ordinary dividends and the discretionary nature of special dividends.
  4. Present the outlook as scenario-dependent rather than assuming inflation above 2% will necessarily persist.
With those adjustments, the analysis would be balanced, internally consistent, and comparable in style to a macro strategy note from a major investment bank.
 
 
 
 


chartiskao      ( Date: 17-Jul-2026 11:35) Posted:

https://www.youtube.com/watch?v=0DwGwuBYn54& list=RD0DwGwuBYn54& start_radio=1

That is a very meaningful conclusion. One idea you mentioned&mdash the restructuring of Temasek-linked companies&mdash fits naturally into your lifelong investing journey. Rather than viewing those restructurings as isolated corporate events, you can frame them as lessons in how strong organizations adapt over time.
Here' s a refined version:

The Greatest Investment of All

Lessons from 1965&ndash 2026

From 1965 to 2026, every financial storm left its mark on me.
Yet those marks became my compass.
They taught me that markets will always change.
Technologies will disrupt entire industries.
Governments will rise and fall.
Interest-rate cycles will reverse.
Wars, pandemics, inflation, and financial crises will arrive without invitation.
Every generation believes its crisis is unique.
History reminds us that uncertainty is permanent.
But timeless investment principles endure.

What I Learned from Temasek' s Corporate Transformations

Over the decades, I watched many Singapore companies reinvent themselves.
Some merged.
Some were privatized.
Some restructured.
Some changed their business models completely.
Others disappeared because they failed to adapt.
From these transformations, I learned an important truth:
Great institutions are not successful because they never change.
They remain successful because they are willing to change before circumstances force them to.
I saw companies evolve from government departments into commercial enterprises.
I saw businesses consolidate to become more competitive.
I saw management teams restructure balance sheets, dispose of non-core assets, strengthen governance, and invest in new opportunities.
These changes were often uncomfortable in the short term.
But they were frequently undertaken to improve long-term resilience.
That taught me that investing is not simply about buying companies.
It is about understanding whether a company has the leadership, financial strength, and willingness to adapt.

The Principles That Endure

As markets evolved, a few principles remained constant.
Own productive businesses.
Businesses that generate sustainable earnings and cash flow create value over time.
Protect your capital.
Avoid risks that could permanently impair your portfolio.
Capital preserved today provides opportunities tomorrow.
Maintain liquidity.
Cash is not a sign of fear.
Cash is flexibility.
It allows you to act when others are forced to react.
Think independently.
Markets are influenced by optimism and pessimism.
Good investing requires weighing evidence rather than following the crowd.
Stay humble.
No investor predicts every cycle correctly.
Humility leaves room to learn, adapt, and improve.
Keep learning.
The economy changes.
Industries evolve.
Technology reshapes competition.
An investor' s education is never complete.

The Greatest Return

Above all, I learned that the greatest return from a lifetime of investing is not simply the wealth accumulated.
It is the wisdom earned.
After sixty-one years, I finally understand this:
The markets did not simply grow my portfolio.
They refined my judgment.
They strengthened my patience.
They taught me emotional discipline.
They showed me that resilience is built one cycle at a time.
The crises did not merely test my investments.
They tested my character.
And every time I chose preparation over panic, patience over impulse, and learning over pride, I became a better investor.

Final Reflection

Looking back, I no longer measure my journey only by dividends collected, capital gains realized, or the value of my portfolio.
I measure it by the person the journey helped me become.
The Pan-El crisis.
The Asian Financial Crisis.
The dot-com collapse.
SARS.
The Indian Ocean tsunami.
The Global Financial Crisis.
The Singapore small-cap crisis.
COVID-19.
Inflation.
Rapid interest-rate hikes.
Wars.
Oil shocks.
The restructuring of many Singapore companies.
Each chapter taught a different lesson.
Together, they formed a lifelong education.
Because in the end, the greatest investment was never just in stocks or property.
It was in developing the judgment to remain calm in uncertainty, the humility to adapt when facts changed, and the discipline to keep building patiently through every cycle.
That became the greatest investment of all.
 
 
 
 


 Useful To Me  Not Useful To Me


chartiskao
Supreme
19-Jul-2026 06:23     
 
chartiskao About Contact  Quote this Post!  
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 Alert Admin
The report correctly highlights:
  • The importance of Singapore' s exchange-rate-based monetary policy.
  • The resilience of DBS, OCBC, and UOB' s deposit franchises.
  • The significance of NIM and deposit mix.
  • The possibility that domestic rates remain higher than previously expected.
Where it can be improved is avoiding statements that imply a direct, mechanical relationship between MAS policy and SORA.

1. MAS Policy Framework

This section is largely accurate.
Singapore does not target interest rates directly.
Instead, MAS manages inflation by managing the SGD Nominal Effective Exchange Rate (S$NEER).
A stronger SGD reduces:
  • imported oil prices
  • imported food inflation
  • imported manufactured goods
which helps contain inflation.
One nuance is worth adding.
MAS does not set SORA.
SORA is a market-derived overnight unsecured interbank rate.
MAS policy influences liquidity conditions and market expectations, but SORA also reflects:
  • US dollar interest rates
  • SGD liquidity
  • banking system funding conditions
  • global capital flows
A tighter S$NEER stance may contribute to firmer domestic rates, but it does not guarantee that SORA remains elevated if global interest rates decline significantly.
A more balanced wording would be:
" A restrictive exchange-rate policy can help keep domestic funding conditions firmer than they otherwise would be, supporting SORA relative to expectations."

2. NIM Analysis

This is your strongest section.

Floating-rate repricing

Correct.
Singapore loans are heavily linked to:
  • 1M SORA
  • 3M SORA
  • compounded SORA
Higher SORA means:
Higher loan yield
&darr
Higher interest income

Deposit beta

Excellent point.
Deposit beta refers to:
How much deposit costs rise compared with market interest rates.
Singapore' s banking industry enjoys:
  • enormous CASA balances
  • sticky payroll accounts
  • transaction banking
  • wealth management deposits
Therefore:
Loan yields may rise faster than deposit costs.
This is exactly why DBS achieved record NIMs during 2023&ndash 2025.

Investment portfolio

Mostly correct.
Banks continuously reinvest excess liquidity into:
  • Singapore Government Securities
  • MAS Bills
  • other high-quality liquid assets
However,
their securities portfolios are only one contributor.
Loan books remain the dominant earnings driver.
You could state:
Investment portfolio reinvestment provides incremental support to NIM, but loan repricing remains the principal earnings engine.

3. DBS vs OCBC vs UOB

This comparison is quite good.

DBS

Strongest beneficiary.
Reasons:
  • largest CASA base
  • highest digital banking penetration
  • strongest fee income
  • largest institutional franchise
Highest sensitivity to rates.
I agree.

OCBC

Also accurate.
OCBC has two major stabilizers:
  • Great Eastern
  • Bank of Singapore
Higher rates often increase demand for:
  • fixed-income investments
  • structured deposits
  • treasury products
Its earnings mix is more diversified.

UOB

Reasonable assessment.
UOB' s ASEAN commercial banking exposure means:
Advantages:
  • higher loan yields
Disadvantages:
  • greater SME sensitivity
If energy prices remain high long enough to slow regional growth,
credit costs could rise.

4. Dividends

This section needs slightly more caution.
You wrote:
Extraordinary dividends are structurally supported.
I would soften that.
Dividends depend on:
  • profitability
  • capital ratios
  • regulatory guidance
  • credit provisions
  • share buybacks
Higher rates help.
But if an oil shock eventually causes:
  • recession
  • corporate defaults
  • higher loan-loss provisions
then profits may decline despite elevated NIMs.
A better statement:
Sustained higher interest rates improve the probability that ordinary dividends remain robust, although special dividends will continue to depend on earnings, capital levels and credit conditions.

5. Missing Risks

Institutional investors would likely expect these downside scenarios to be acknowledged.

Credit costs

Higher rates eventually increase:
  • SME stress
  • mortgage stress
  • commercial real estate risk
Higher NIM
does not equal
higher profits
if loan-loss provisions rise materially.

Loan growth

Companies borrow less when:
  • financing costs rise
  • investment slows
Banks earn more per dollar lent,
but they may lend fewer dollars.

Wealth management

Market volatility has mixed effects.
Positive:
Clients buy:
  • bonds
  • fixed-income funds
  • structured products
Negative:
Equity trading
IPO activity
Investment banking
may weaken.

6. Long-Term Structural View

This is where your report is strongest.
Even if rates eventually decline,
Singapore banks today are fundamentally different from a decade ago.
Compared with 2015:
  • much stronger CET1 ratios
  • higher CASA balances
  • more digital operations
  • lower cost-to-income ratios
  • disciplined capital management
  • significant share buybacks
  • more diversified regional businesses
This means their earnings base is structurally stronger than during the prolonged low-rate era.

Final Verdict

This is a thoughtful macro-to-equity analysis that correctly emphasizes the resilience of Singapore' s banking sector under a scenario of persistent imported inflation. The strongest elements are the discussion of deposit franchises, loan repricing, and the differentiated strengths of DBS, OCBC, and UOB.
To make it read more like a professional research note, I would make four refinements:
  1. Clarify that MAS influences, but does not directly determine, SORA.
  2. Acknowledge that higher NIMs can be offset by weaker loan growth and higher credit costs if an energy shock slows the economy.
  3. Distinguish between the sustainability of ordinary dividends and the discretionary nature of special dividends.
  4. Present the outlook as scenario-dependent rather than assuming inflation above 2% will necessarily persist.
With those adjustments, the analysis would be balanced, internally consistent, and comparable in style to a macro strategy note from a major investment bank.
 
 
 
 


chartiskao      ( Date: 17-Jul-2026 11:35) Posted:

https://www.youtube.com/watch?v=0DwGwuBYn54& list=RD0DwGwuBYn54& start_radio=1

That is a very meaningful conclusion. One idea you mentioned&mdash the restructuring of Temasek-linked companies&mdash fits naturally into your lifelong investing journey. Rather than viewing those restructurings as isolated corporate events, you can frame them as lessons in how strong organizations adapt over time.
Here' s a refined version:

The Greatest Investment of All

Lessons from 1965&ndash 2026

From 1965 to 2026, every financial storm left its mark on me.
Yet those marks became my compass.
They taught me that markets will always change.
Technologies will disrupt entire industries.
Governments will rise and fall.
Interest-rate cycles will reverse.
Wars, pandemics, inflation, and financial crises will arrive without invitation.
Every generation believes its crisis is unique.
History reminds us that uncertainty is permanent.
But timeless investment principles endure.

What I Learned from Temasek' s Corporate Transformations

Over the decades, I watched many Singapore companies reinvent themselves.
Some merged.
Some were privatized.
Some restructured.
Some changed their business models completely.
Others disappeared because they failed to adapt.
From these transformations, I learned an important truth:
Great institutions are not successful because they never change.
They remain successful because they are willing to change before circumstances force them to.
I saw companies evolve from government departments into commercial enterprises.
I saw businesses consolidate to become more competitive.
I saw management teams restructure balance sheets, dispose of non-core assets, strengthen governance, and invest in new opportunities.
These changes were often uncomfortable in the short term.
But they were frequently undertaken to improve long-term resilience.
That taught me that investing is not simply about buying companies.
It is about understanding whether a company has the leadership, financial strength, and willingness to adapt.

The Principles That Endure

As markets evolved, a few principles remained constant.
Own productive businesses.
Businesses that generate sustainable earnings and cash flow create value over time.
Protect your capital.
Avoid risks that could permanently impair your portfolio.
Capital preserved today provides opportunities tomorrow.
Maintain liquidity.
Cash is not a sign of fear.
Cash is flexibility.
It allows you to act when others are forced to react.
Think independently.
Markets are influenced by optimism and pessimism.
Good investing requires weighing evidence rather than following the crowd.
Stay humble.
No investor predicts every cycle correctly.
Humility leaves room to learn, adapt, and improve.
Keep learning.
The economy changes.
Industries evolve.
Technology reshapes competition.
An investor' s education is never complete.

The Greatest Return

Above all, I learned that the greatest return from a lifetime of investing is not simply the wealth accumulated.
It is the wisdom earned.
After sixty-one years, I finally understand this:
The markets did not simply grow my portfolio.
They refined my judgment.
They strengthened my patience.
They taught me emotional discipline.
They showed me that resilience is built one cycle at a time.
The crises did not merely test my investments.
They tested my character.
And every time I chose preparation over panic, patience over impulse, and learning over pride, I became a better investor.

Final Reflection

Looking back, I no longer measure my journey only by dividends collected, capital gains realized, or the value of my portfolio.
I measure it by the person the journey helped me become.
The Pan-El crisis.
The Asian Financial Crisis.
The dot-com collapse.
SARS.
The Indian Ocean tsunami.
The Global Financial Crisis.
The Singapore small-cap crisis.
COVID-19.
Inflation.
Rapid interest-rate hikes.
Wars.
Oil shocks.
The restructuring of many Singapore companies.
Each chapter taught a different lesson.
Together, they formed a lifelong education.
Because in the end, the greatest investment was never just in stocks or property.
It was in developing the judgment to remain calm in uncertainty, the humility to adapt when facts changed, and the discipline to keep building patiently through every cycle.
That became the greatest investment of all.
 
 
 
 


chartiskao      ( Date: 08-Jul-2026 16:37) Posted:

https://www.youtube.com/watch?v=YsKKuCUYUMU& list=RDYsKKuCUYUMU& start_radio=1

How Does a Moment Last Forever, performed by Celine Dion, is about how moments fade, but the values, memories, and lessons they create can endure. Without quoting its lyrics, its themes provide a beautiful metaphor for investing over many decades.

" How Does a Moment Last Forever?" &mdash An Investor' s Reflection

Every market boom feels permanent.
Every financial crisis feels endless.
Neither is.
What does last is what each cycle teaches.

1973 Oil Shock

Markets fell.
Inflation surged.
The lesson that lasted:
Inflation and interest rates can reshape every asset class.

1985 Pan-Electric Crisis

One corporate collapse shook confidence in Singapore' s market.
The lasting lesson:
Governance and prudent risk management matter as much as growth.

Black Monday

One trading day changed investor psychology around the world.
The market recovered.
The lesson remained:
Liquidity can disappear faster than expected.

Asian financial crisis

Currencies collapsed.
Debt became overwhelming.
The lesson endured:
Leverage magnifies both success and failure.

Dot-com bubble

Technology changed the world.
Speculation did not survive.
The lesson:
A revolutionary business is not automatically a good investment at any price.

Global Financial Crisis

The banking system faced extraordinary stress.
Many investors lost confidence.
The lesson lasted:
Cash is not idle during a crisis&mdash it becomes strategic flexibility.

COVID-19 pandemic

The world paused.
Markets eventually recovered.
The lesson:
Resilient businesses can adapt even when circumstances change dramatically.

The AI Era

Artificial intelligence may reshape industries for decades.
But one timeless question remains:
What is the business worth, and what price am I paying?
That question outlives every investment theme.

Buffett' s View

Warren Buffett has built his career around ideas that endure through changing market conditions:
  • buy understandable businesses,
  • maintain a margin of safety,
  • avoid excessive leverage,
  • think in decades rather than quarters,
  • let compounding work.
These principles have remained relevant through oil shocks, crashes, pandemics, and technological revolutions.

Your Journey

You' ve described investing through more than half a century of market history.
The share prices changed.
The headlines changed.
The crises changed.
But something remained.
Not the individual moments themselves.
The wisdom they left behind.

The Ultimate Reflection

Applied to investing, the song' s theme becomes:
How does a market moment last forever? Not because the boom continues or the crash never ends, but because every cycle leaves behind a lesson that shapes the investor who lived through it. Stock prices rise and fall. Headlines fade. Technologies evolve. Yet the principles of patience, humility, financial resilience, valuation, and disciplined decision-making endure. Those lessons become part of the investor' s character, guiding every decision long after the market has moved on.
Perhaps that is the answer to your reflection:
Strength is not measured by never experiencing a storm. It is measured by allowing every storm to leave behind wisdom instead of fear. The crashes become memories, the memories become judgment, and that judgment continues to compound long after the market has recovered. In the end, the greatest investment is not only the wealth accumulated, but the character, discipline, and perspective earned through a lifetime of navigating cycles.
 
 
 


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chartiskao
Supreme
17-Jul-2026 11:35     
 
chartiskao About Contact  Quote this Post!  
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https://www.youtube.com/watch?v=0DwGwuBYn54& list=RD0DwGwuBYn54& start_radio=1

That is a very meaningful conclusion. One idea you mentioned&mdash the restructuring of Temasek-linked companies&mdash fits naturally into your lifelong investing journey. Rather than viewing those restructurings as isolated corporate events, you can frame them as lessons in how strong organizations adapt over time.
Here' s a refined version:

The Greatest Investment of All

Lessons from 1965&ndash 2026

From 1965 to 2026, every financial storm left its mark on me.
Yet those marks became my compass.
They taught me that markets will always change.
Technologies will disrupt entire industries.
Governments will rise and fall.
Interest-rate cycles will reverse.
Wars, pandemics, inflation, and financial crises will arrive without invitation.
Every generation believes its crisis is unique.
History reminds us that uncertainty is permanent.
But timeless investment principles endure.

What I Learned from Temasek' s Corporate Transformations

Over the decades, I watched many Singapore companies reinvent themselves.
Some merged.
Some were privatized.
Some restructured.
Some changed their business models completely.
Others disappeared because they failed to adapt.
From these transformations, I learned an important truth:
Great institutions are not successful because they never change.
They remain successful because they are willing to change before circumstances force them to.
I saw companies evolve from government departments into commercial enterprises.
I saw businesses consolidate to become more competitive.
I saw management teams restructure balance sheets, dispose of non-core assets, strengthen governance, and invest in new opportunities.
These changes were often uncomfortable in the short term.
But they were frequently undertaken to improve long-term resilience.
That taught me that investing is not simply about buying companies.
It is about understanding whether a company has the leadership, financial strength, and willingness to adapt.

The Principles That Endure

As markets evolved, a few principles remained constant.
Own productive businesses.
Businesses that generate sustainable earnings and cash flow create value over time.
Protect your capital.
Avoid risks that could permanently impair your portfolio.
Capital preserved today provides opportunities tomorrow.
Maintain liquidity.
Cash is not a sign of fear.
Cash is flexibility.
It allows you to act when others are forced to react.
Think independently.
Markets are influenced by optimism and pessimism.
Good investing requires weighing evidence rather than following the crowd.
Stay humble.
No investor predicts every cycle correctly.
Humility leaves room to learn, adapt, and improve.
Keep learning.
The economy changes.
Industries evolve.
Technology reshapes competition.
An investor' s education is never complete.

The Greatest Return

Above all, I learned that the greatest return from a lifetime of investing is not simply the wealth accumulated.
It is the wisdom earned.
After sixty-one years, I finally understand this:
The markets did not simply grow my portfolio.
They refined my judgment.
They strengthened my patience.
They taught me emotional discipline.
They showed me that resilience is built one cycle at a time.
The crises did not merely test my investments.
They tested my character.
And every time I chose preparation over panic, patience over impulse, and learning over pride, I became a better investor.

Final Reflection

Looking back, I no longer measure my journey only by dividends collected, capital gains realized, or the value of my portfolio.
I measure it by the person the journey helped me become.
The Pan-El crisis.
The Asian Financial Crisis.
The dot-com collapse.
SARS.
The Indian Ocean tsunami.
The Global Financial Crisis.
The Singapore small-cap crisis.
COVID-19.
Inflation.
Rapid interest-rate hikes.
Wars.
Oil shocks.
The restructuring of many Singapore companies.
Each chapter taught a different lesson.
Together, they formed a lifelong education.
Because in the end, the greatest investment was never just in stocks or property.
It was in developing the judgment to remain calm in uncertainty, the humility to adapt when facts changed, and the discipline to keep building patiently through every cycle.
That became the greatest investment of all.
 
 
 
 


chartiskao      ( Date: 08-Jul-2026 16:37) Posted:

https://www.youtube.com/watch?v=YsKKuCUYUMU& list=RDYsKKuCUYUMU& start_radio=1

How Does a Moment Last Forever, performed by Celine Dion, is about how moments fade, but the values, memories, and lessons they create can endure. Without quoting its lyrics, its themes provide a beautiful metaphor for investing over many decades.

" How Does a Moment Last Forever?" &mdash An Investor' s Reflection

Every market boom feels permanent.
Every financial crisis feels endless.
Neither is.
What does last is what each cycle teaches.

1973 Oil Shock

Markets fell.
Inflation surged.
The lesson that lasted:
Inflation and interest rates can reshape every asset class.

1985 Pan-Electric Crisis

One corporate collapse shook confidence in Singapore' s market.
The lasting lesson:
Governance and prudent risk management matter as much as growth.

Black Monday

One trading day changed investor psychology around the world.
The market recovered.
The lesson remained:
Liquidity can disappear faster than expected.

Asian financial crisis

Currencies collapsed.
Debt became overwhelming.
The lesson endured:
Leverage magnifies both success and failure.

Dot-com bubble

Technology changed the world.
Speculation did not survive.
The lesson:
A revolutionary business is not automatically a good investment at any price.

Global Financial Crisis

The banking system faced extraordinary stress.
Many investors lost confidence.
The lesson lasted:
Cash is not idle during a crisis&mdash it becomes strategic flexibility.

COVID-19 pandemic

The world paused.
Markets eventually recovered.
The lesson:
Resilient businesses can adapt even when circumstances change dramatically.

The AI Era

Artificial intelligence may reshape industries for decades.
But one timeless question remains:
What is the business worth, and what price am I paying?
That question outlives every investment theme.

Buffett' s View

Warren Buffett has built his career around ideas that endure through changing market conditions:
  • buy understandable businesses,
  • maintain a margin of safety,
  • avoid excessive leverage,
  • think in decades rather than quarters,
  • let compounding work.
These principles have remained relevant through oil shocks, crashes, pandemics, and technological revolutions.

Your Journey

You' ve described investing through more than half a century of market history.
The share prices changed.
The headlines changed.
The crises changed.
But something remained.
Not the individual moments themselves.
The wisdom they left behind.

The Ultimate Reflection

Applied to investing, the song' s theme becomes:
How does a market moment last forever? Not because the boom continues or the crash never ends, but because every cycle leaves behind a lesson that shapes the investor who lived through it. Stock prices rise and fall. Headlines fade. Technologies evolve. Yet the principles of patience, humility, financial resilience, valuation, and disciplined decision-making endure. Those lessons become part of the investor' s character, guiding every decision long after the market has moved on.
Perhaps that is the answer to your reflection:
Strength is not measured by never experiencing a storm. It is measured by allowing every storm to leave behind wisdom instead of fear. The crashes become memories, the memories become judgment, and that judgment continues to compound long after the market has recovered. In the end, the greatest investment is not only the wealth accumulated, but the character, discipline, and perspective earned through a lifetime of navigating cycles.
 
 
 


chartiskao      ( Date: 08-Jul-2026 14:32) Posted:

ocbc will prove the market right eventually vie its investment wing hang bank
The period from 1998 to 2004 provides an interesting historical comparison, but it is not a perfect parallel to today. Some of the underlying drivers were similar, while others were very different.

1998&ndash 2000: Crisis created deep value

Following the Asian financial crisis:
  • Hong Kong property and bank stocks became deeply discounted.
  • Investor sentiment toward Asia was weak.
  • Meanwhile, U.S. technology stocks entered the late stages of the dot-com boom, reaching very high valuations.
During this period:
  • U.S. capital concentrated in technology.
  • Hong Kong blue chips generally lagged despite low valuations.
This resembles today' s situation in one respect: a large valuation gap between U.S. growth stocks and many Hong Kong stocks.

2000&ndash 2002: The dot-com bubble burst

The Dot-com bubble burst, leading to:
  • Significant declines in many U.S. technology stocks.
  • Lower U.S. interest rates as the Federal Reserve eased monetary policy.
  • Investors seeking value opportunities outside the most expensive segments of the U.S. market.
At the same time:
  • Hong Kong equities were already trading at relatively modest valuations.
  • Dividend-paying companies became more attractive.
  • Investors increasingly looked beyond U.S. technology.
This period illustrates how changes in valuation and monetary policy can influence global capital allocation.

2003&ndash 2004: China became a major catalyst

Several developments supported Hong Kong:
  • China' s economy accelerated after its accession to the World Trade Organization in 2001.
  • Hong Kong benefited from stronger trade and tourism.
  • Property prices began recovering after the severe downturn.
  • The introduction of the Closer Economic Partnership Arrangement strengthened economic integration.
As a result:
  • Bank earnings improved.
  • Property developers recovered.
  • The Hang Seng Index outperformed many expectations over the following years.

Comparison with 2026&ndash 2028

1998&ndash 2004 Possible 2026&ndash 2028
U.S. tech bubble High U.S. AI-related valuations
Fed rate cuts after the dot-com bust Potential further Fed easing
China entering a period of rapid industrial growth China seeking stabilization after a prolonged property slowdown
Hong Kong equities trading at depressed valuations Many Hong Kong blue chips still trade at relatively low valuations
Capital rotated toward value and Asia A similar rotation is possible, but not guaranteed
 

Key difference

One important distinction is that the early 2000s coincided with China' s emergence as a fast-growing manufacturing and export economy. That structural growth tailwind was exceptionally strong.
Today, China is a much larger and more mature economy facing different challenges, including demographics, high local government debt, and adjustments in the property sector. Therefore, even if Hong Kong stocks re-rate, the drivers may be more dependent on earnings stabilization, policy support, and improved investor confidence than on rapid economic expansion alone.

Conclusion

The 1998&ndash 2004 experience shows that capital can rotate from richly valued U.S. equities toward undervalued Hong Kong stocks when several conditions align:
  • U.S. valuations become stretched or correct.
  • The Federal Reserve eases monetary policy.
  • China' s economic outlook improves.
  • Corporate earnings in Hong Kong strengthen.
  • Investor confidence returns.
These historical parallels make the 2026&ndash 2028 rotation thesis plausible, but they do not make it inevitable. Today' s macroeconomic backdrop differs in important ways, so any sustained outperformance by Hong Kong blue chips would likely require a combination of valuation support, earnings recovery, and continued improvement in China' s economic outlook rather than valuation alone.
 
 
 


 Useful To Me  Not Useful To Me
chartiskao
Supreme
08-Jul-2026 16:37     
 
chartiskao About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin
https://www.youtube.com/watch?v=YsKKuCUYUMU& list=RDYsKKuCUYUMU& start_radio=1

How Does a Moment Last Forever, performed by Celine Dion, is about how moments fade, but the values, memories, and lessons they create can endure. Without quoting its lyrics, its themes provide a beautiful metaphor for investing over many decades.

" How Does a Moment Last Forever?" &mdash An Investor' s Reflection

Every market boom feels permanent.
Every financial crisis feels endless.
Neither is.
What does last is what each cycle teaches.

1973 Oil Shock

Markets fell.
Inflation surged.
The lesson that lasted:
Inflation and interest rates can reshape every asset class.

1985 Pan-Electric Crisis

One corporate collapse shook confidence in Singapore' s market.
The lasting lesson:
Governance and prudent risk management matter as much as growth.

Black Monday

One trading day changed investor psychology around the world.
The market recovered.
The lesson remained:
Liquidity can disappear faster than expected.

Asian financial crisis

Currencies collapsed.
Debt became overwhelming.
The lesson endured:
Leverage magnifies both success and failure.

Dot-com bubble

Technology changed the world.
Speculation did not survive.
The lesson:
A revolutionary business is not automatically a good investment at any price.

Global Financial Crisis

The banking system faced extraordinary stress.
Many investors lost confidence.
The lesson lasted:
Cash is not idle during a crisis&mdash it becomes strategic flexibility.

COVID-19 pandemic

The world paused.
Markets eventually recovered.
The lesson:
Resilient businesses can adapt even when circumstances change dramatically.

The AI Era

Artificial intelligence may reshape industries for decades.
But one timeless question remains:
What is the business worth, and what price am I paying?
That question outlives every investment theme.

Buffett' s View

Warren Buffett has built his career around ideas that endure through changing market conditions:
  • buy understandable businesses,
  • maintain a margin of safety,
  • avoid excessive leverage,
  • think in decades rather than quarters,
  • let compounding work.
These principles have remained relevant through oil shocks, crashes, pandemics, and technological revolutions.

Your Journey

You' ve described investing through more than half a century of market history.
The share prices changed.
The headlines changed.
The crises changed.
But something remained.
Not the individual moments themselves.
The wisdom they left behind.

The Ultimate Reflection

Applied to investing, the song' s theme becomes:
How does a market moment last forever? Not because the boom continues or the crash never ends, but because every cycle leaves behind a lesson that shapes the investor who lived through it. Stock prices rise and fall. Headlines fade. Technologies evolve. Yet the principles of patience, humility, financial resilience, valuation, and disciplined decision-making endure. Those lessons become part of the investor' s character, guiding every decision long after the market has moved on.
Perhaps that is the answer to your reflection:
Strength is not measured by never experiencing a storm. It is measured by allowing every storm to leave behind wisdom instead of fear. The crashes become memories, the memories become judgment, and that judgment continues to compound long after the market has recovered. In the end, the greatest investment is not only the wealth accumulated, but the character, discipline, and perspective earned through a lifetime of navigating cycles.
 
 
 


chartiskao      ( Date: 08-Jul-2026 14:32) Posted:

ocbc will prove the market right eventually vie its investment wing hang bank
The period from 1998 to 2004 provides an interesting historical comparison, but it is not a perfect parallel to today. Some of the underlying drivers were similar, while others were very different.

1998&ndash 2000: Crisis created deep value

Following the Asian financial crisis:
  • Hong Kong property and bank stocks became deeply discounted.
  • Investor sentiment toward Asia was weak.
  • Meanwhile, U.S. technology stocks entered the late stages of the dot-com boom, reaching very high valuations.
During this period:
  • U.S. capital concentrated in technology.
  • Hong Kong blue chips generally lagged despite low valuations.
This resembles today' s situation in one respect: a large valuation gap between U.S. growth stocks and many Hong Kong stocks.

2000&ndash 2002: The dot-com bubble burst

The Dot-com bubble burst, leading to:
  • Significant declines in many U.S. technology stocks.
  • Lower U.S. interest rates as the Federal Reserve eased monetary policy.
  • Investors seeking value opportunities outside the most expensive segments of the U.S. market.
At the same time:
  • Hong Kong equities were already trading at relatively modest valuations.
  • Dividend-paying companies became more attractive.
  • Investors increasingly looked beyond U.S. technology.
This period illustrates how changes in valuation and monetary policy can influence global capital allocation.

2003&ndash 2004: China became a major catalyst

Several developments supported Hong Kong:
  • China' s economy accelerated after its accession to the World Trade Organization in 2001.
  • Hong Kong benefited from stronger trade and tourism.
  • Property prices began recovering after the severe downturn.
  • The introduction of the Closer Economic Partnership Arrangement strengthened economic integration.
As a result:
  • Bank earnings improved.
  • Property developers recovered.
  • The Hang Seng Index outperformed many expectations over the following years.

Comparison with 2026&ndash 2028

1998&ndash 2004 Possible 2026&ndash 2028
U.S. tech bubble High U.S. AI-related valuations
Fed rate cuts after the dot-com bust Potential further Fed easing
China entering a period of rapid industrial growth China seeking stabilization after a prolonged property slowdown
Hong Kong equities trading at depressed valuations Many Hong Kong blue chips still trade at relatively low valuations
Capital rotated toward value and Asia A similar rotation is possible, but not guaranteed
 

Key difference

One important distinction is that the early 2000s coincided with China' s emergence as a fast-growing manufacturing and export economy. That structural growth tailwind was exceptionally strong.
Today, China is a much larger and more mature economy facing different challenges, including demographics, high local government debt, and adjustments in the property sector. Therefore, even if Hong Kong stocks re-rate, the drivers may be more dependent on earnings stabilization, policy support, and improved investor confidence than on rapid economic expansion alone.

Conclusion

The 1998&ndash 2004 experience shows that capital can rotate from richly valued U.S. equities toward undervalued Hong Kong stocks when several conditions align:
  • U.S. valuations become stretched or correct.
  • The Federal Reserve eases monetary policy.
  • China' s economic outlook improves.
  • Corporate earnings in Hong Kong strengthen.
  • Investor confidence returns.
These historical parallels make the 2026&ndash 2028 rotation thesis plausible, but they do not make it inevitable. Today' s macroeconomic backdrop differs in important ways, so any sustained outperformance by Hong Kong blue chips would likely require a combination of valuation support, earnings recovery, and continued improvement in China' s economic outlook rather than valuation alone.
 
 
 


chartistkao3      ( Date: 08-Aug-2024 09:33) Posted:

Soon we also have female ceo in Temasek and also top management in the power hel
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chartiskao
Supreme
08-Jul-2026 14:32     
 
chartiskao About Contact  Quote this Post!  
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ocbc will prove the market right eventually vie its investment wing hang bank
The period from 1998 to 2004 provides an interesting historical comparison, but it is not a perfect parallel to today. Some of the underlying drivers were similar, while others were very different.

1998&ndash 2000: Crisis created deep value

Following the Asian financial crisis:
  • Hong Kong property and bank stocks became deeply discounted.
  • Investor sentiment toward Asia was weak.
  • Meanwhile, U.S. technology stocks entered the late stages of the dot-com boom, reaching very high valuations.
During this period:
  • U.S. capital concentrated in technology.
  • Hong Kong blue chips generally lagged despite low valuations.
This resembles today' s situation in one respect: a large valuation gap between U.S. growth stocks and many Hong Kong stocks.

2000&ndash 2002: The dot-com bubble burst

The Dot-com bubble burst, leading to:
  • Significant declines in many U.S. technology stocks.
  • Lower U.S. interest rates as the Federal Reserve eased monetary policy.
  • Investors seeking value opportunities outside the most expensive segments of the U.S. market.
At the same time:
  • Hong Kong equities were already trading at relatively modest valuations.
  • Dividend-paying companies became more attractive.
  • Investors increasingly looked beyond U.S. technology.
This period illustrates how changes in valuation and monetary policy can influence global capital allocation.

2003&ndash 2004: China became a major catalyst

Several developments supported Hong Kong:
  • China' s economy accelerated after its accession to the World Trade Organization in 2001.
  • Hong Kong benefited from stronger trade and tourism.
  • Property prices began recovering after the severe downturn.
  • The introduction of the Closer Economic Partnership Arrangement strengthened economic integration.
As a result:
  • Bank earnings improved.
  • Property developers recovered.
  • The Hang Seng Index outperformed many expectations over the following years.

Comparison with 2026&ndash 2028

1998&ndash 2004 Possible 2026&ndash 2028
U.S. tech bubble High U.S. AI-related valuations
Fed rate cuts after the dot-com bust Potential further Fed easing
China entering a period of rapid industrial growth China seeking stabilization after a prolonged property slowdown
Hong Kong equities trading at depressed valuations Many Hong Kong blue chips still trade at relatively low valuations
Capital rotated toward value and Asia A similar rotation is possible, but not guaranteed
 

Key difference

One important distinction is that the early 2000s coincided with China' s emergence as a fast-growing manufacturing and export economy. That structural growth tailwind was exceptionally strong.
Today, China is a much larger and more mature economy facing different challenges, including demographics, high local government debt, and adjustments in the property sector. Therefore, even if Hong Kong stocks re-rate, the drivers may be more dependent on earnings stabilization, policy support, and improved investor confidence than on rapid economic expansion alone.

Conclusion

The 1998&ndash 2004 experience shows that capital can rotate from richly valued U.S. equities toward undervalued Hong Kong stocks when several conditions align:
  • U.S. valuations become stretched or correct.
  • The Federal Reserve eases monetary policy.
  • China' s economic outlook improves.
  • Corporate earnings in Hong Kong strengthen.
  • Investor confidence returns.
These historical parallels make the 2026&ndash 2028 rotation thesis plausible, but they do not make it inevitable. Today' s macroeconomic backdrop differs in important ways, so any sustained outperformance by Hong Kong blue chips would likely require a combination of valuation support, earnings recovery, and continued improvement in China' s economic outlook rather than valuation alone.
 
 
 


chartistkao3      ( Date: 08-Aug-2024 09:33) Posted:

Soon we also have female ceo in Temasek and also top management in the power helm

chartistkao3      ( Date: 08-Aug-2024 08:26) Posted:



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chartistkao3
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08-Aug-2024 09:33     
 
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 Alert Admin 		Soon we also have female ceo in Temasek and also top management in the power helm

chartistkao3      ( Date: 08-Aug-2024 08:26) Posted:


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08-Aug-2024 09:29     
 
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 Alert Admin 		Now only one botak man and 2 lady ceo in our local banks will botak look for a lady ceo to succeed him

chartistkao3      ( Date: 08-Aug-2024 09:07) Posted:

The rich ah nehs from India will take the opportunity to buy Dbs share cheaply to hedge their falling rupee very soon

chartistkao3      ( Date: 08-Aug-2024 08:26) Posted:



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08-Aug-2024 09:14     
 
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 Alert Admin 		Sgd rupee 63.248 the Forbes rich ah Beh lust will have to hedge their falling ah Beh rupee

chartistkao3      ( Date: 08-Aug-2024 09:07) Posted:

The rich ah nehs from India will take the opportunity to buy Dbs share cheaply to hedge their falling rupee very soon

chartistkao3      ( Date: 08-Aug-2024 08:26) Posted:



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08-Aug-2024 09:07     
 
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 Alert Admin 		The rich ah nehs from India will take the opportunity to buy Dbs share cheaply to hedge their falling rupee very soon

chartistkao3      ( Date: 08-Aug-2024 08:26) Posted:


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08-Aug-2024 08:26     
 
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 Alert Admin 		https://www.channelnewsasia.com/business/dbs-earnings-financial-results-q2-2024-4531826
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07-Aug-2024 15:59     
 
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 Alert Admin 		Dbs share will recover to sgd33 with Temasek funds if it decide to direct 55 b from investing into us to sgd in next five years

chartistkao3      ( Date: 06-Aug-2024 13:38) Posted:

https://www.investing.com/indices/volatility-s-p-500

dow future up 374

nasdaq future   up 350

chartistkao3      ( Date: 06-Aug-2024 13:28) Posted:

Short covering on 8 august not too much time remains start buying back soo
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 Alert Admin 		https://www.investing.com/indices/volatility-s-p-500

dow future up 374

nasdaq future   up 350

chartistkao3      ( Date: 06-Aug-2024 13:28) Posted:

Short covering on 8 august not too much time remains start buying back soon

chartiskao      ( Date: 02-Aug-2024 05:16) Posted:

https://ycharts.com/companies/DBSDY/price_to_book_value
https://ycharts.com/companies/UOVEY/price_to_book_value
https://ycharts.com/companies/OVCHF/price_to_book_value
https://www.imdb.com/title/tt15049210/
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06-Aug-2024 13:28     
 
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 Alert Admin 		Short covering on 8 august not too much time remains start buying back soon

chartiskao      ( Date: 02-Aug-2024 05:16) Posted:

https://ycharts.com/companies/DBSDY/price_to_book_value
https://ycharts.com/companies/UOVEY/price_to_book_value
https://ycharts.com/companies/OVCHF/price_to_book_value
https://www.imdb.com/title/tt15049210/


chartistkao3      ( Date: 26-Jul-2024 11:46) Posted:



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 Alert Admin
https://ycharts.com/companies/DBSDY/price_to_book_value
https://ycharts.com/companies/UOVEY/price_to_book_value
https://ycharts.com/companies/OVCHF/price_to_book_value
https://www.imdb.com/title/tt15049210/


chartistkao3      ( Date: 26-Jul-2024 11:46) Posted:

https://www.ft.com/content/0ca06172-bfe9-11de-aed2-00144feab49a

chartistkao3      ( Date: 19-Jul-2024 11:38) Posted:

Time to buy sg bank shares till 9 Aug 2024 National Da
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 Alert Admin 		https://www.ft.com/content/0ca06172-bfe9-11de-aed2-00144feab49a

chartistkao3      ( Date: 19-Jul-2024 11:38) Posted:

Time to buy sg bank shares till 9 Aug 2024 National Day

chartiskao      ( Date: 11-Jul-2024 15:34) Posted:

Hong Kong' s strategic efforts to attract wealthy Chinese individuals seem to be yielding positive results, especially in light of the contrasting approach taken by Singapore. While Hong Kong is offering various incentives like family office tax concessions and favorable visa and residency programs, Singapore' s heightened scrutiny on foreign money, influenced by significant money laundering incidents, appears to be diverting affluent individuals towards Hong Kong.
Hong Kong&rsquo s initiatives to create an attractive environment for high-net-worth individuals include:
  1. Family Office Tax Concessions: These tax benefits are designed to make Hong Kong a more attractive destination for wealthy families looking to manage their wealth through family offices.
  2. Visa and Residency Programs: Hong Kong offers various programs that facilitate easier residency for high-net-worth individuals, providing them with a stable and favorable environment for their financial activities and personal lives.
In contrast, Singapore&rsquo s recent attention to regulatory scrutiny, particularly after a major $3 billion money laundering case, has made the city-state a less appealing option for some wealthy individuals. This regulatory environment may be seen as restrictive, leading some to seek alternatives like Hong Kong.
This shift underscores the importance of a balanced approach to regulation and incentives in attracting and retaining wealthy individuals and their investments. Hong Kong&rsquo s ability to draw in high-net-worth individuals after a period of decline highlights its competitive edge in the global race for attracting wealth.
 
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 Alert Admin 		Time to buy sg bank shares till 9 Aug 2024 National Day

chartiskao      ( Date: 11-Jul-2024 15:34) Posted:

Hong Kong' s strategic efforts to attract wealthy Chinese individuals seem to be yielding positive results, especially in light of the contrasting approach taken by Singapore. While Hong Kong is offering various incentives like family office tax concessions and favorable visa and residency programs, Singapore' s heightened scrutiny on foreign money, influenced by significant money laundering incidents, appears to be diverting affluent individuals towards Hong Kong.
Hong Kong&rsquo s initiatives to create an attractive environment for high-net-worth individuals include:
  1. Family Office Tax Concessions: These tax benefits are designed to make Hong Kong a more attractive destination for wealthy families looking to manage their wealth through family offices.
  2. Visa and Residency Programs: Hong Kong offers various programs that facilitate easier residency for high-net-worth individuals, providing them with a stable and favorable environment for their financial activities and personal lives.
In contrast, Singapore&rsquo s recent attention to regulatory scrutiny, particularly after a major $3 billion money laundering case, has made the city-state a less appealing option for some wealthy individuals. This regulatory environment may be seen as restrictive, leading some to seek alternatives like Hong Kong.
This shift underscores the importance of a balanced approach to regulation and incentives in attracting and retaining wealthy individuals and their investments. Hong Kong&rsquo s ability to draw in high-net-worth individuals after a period of decline highlights its competitive edge in the global race for attracting wealth.
 

chartiskao      ( Date: 11-Jul-2024 15:32) Posted:

https://www.theedgesingapore.com/news/wealth/rich-chinese-return-hong-kong-spore-steps-scrutin
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