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Wednesday, 14 September 2011

Marianne Faithfull - As Tears Go By (1965) - Is Banking still a "safe" career?





For those who don't know this young singer, what is your first impression when you see her in this video? She is around 18 in this video. Such a sweet, innocent, and angelic face!

The song is a bit prophetic. Who would have known years later, she would marry, have a child, divorce, and sleep her way through 3 band members of the Rolling Stones... Until she became the girlfriend of Mike Jagger?

Drugs and alcohol abuse, plus sexual liberation, made more headlines than her singing. At the lowest point, she was reduced to sleeping in the streets... before making a comeback in the 80s.

When I was growing up in the 70s and 80s, a banking job or career was considered as "safe" as working in the civil service - with the added bonus of better benefits and pay! When parents introduced their children as working in the banking industry - "My son/daughter works in a bank you know!? - you can see and feel the pride in their voice and eyes!

Fast forward to today... I hear so many big international banks slashing their head-counts to maintain profitability and competitiveness. What? You say Singapore banks not affected? Our banks very solid - well managed?

I guess you were not around when OUB and UOB merged... I still feel a tinge of sadness that our only Teochew bank is now part of history. Silly thought, I was never a shareholder of OUB or had an account there. But still...

Any way, some analysts are musing that a DBS and OCBC merger will bring synergies and benefits to shareholders. I guess as a shareholder, it's not a bad idea if the share price goes up! But if you are now working in DBS or UOB... You don't need 2 Accountants, 2 HR managers, 2 IT managers...

Hey! How did I move from a song to the banking industry? My mind wanders...

Things are not always what it seems on the surface. I need to be vigilant so that I don't experience "as tears go by"...


P.S. My using of the banking industry is just a metaphor.

11 comments:

  1. Hi SMOL,

    Teochew bank taken over by Hokkien bank. Now, we have two Hokkien banks and one, er, ahem, DBS.

    ReplyDelete
  2. I bet you aren't around when the first bank in Singapore, owned by a cantonese towkay, got eaten up by wee cho yaw's father.

    ReplyDelete
  3. Hello home-based trading warrior!

    I really admire your swashbuckling exploits in the markets :)

    Nice of you to vist my blog. Yes, before my time... I did read about the acquisitions of UOB during the yester-years though.

    So thing have come round to square one. During the 70s (I primary school and wear shorts then), to survive in Singapore, I heard I need to speak English and Hokkien.

    Today 2 Hokkien and 1 "eat potatoes" bank.

    OK, got to brush up my Hokkien!

    ReplyDelete
  4. wow, a rear guest, ya nice to drop by (though not my blog haha)

    and yes, i like the way you trade. very versitile and very flexible, the twist and turn. not sure about your money management thought.

    SMOL, the rolling stone version is better in my opinion.

    ReplyDelete
  5. Hello Coconut,

    Treat this blog as your blog! You have added lots of "colour" here!

    We are like those chinese cross-talk partners. Together we got more comic effect! Opps! I meant sparks of creativity!

    Glad you like my new attempt to add some words to why a song inspires me the way it does. The emotion it evokes, etc.

    ReplyDelete
  6. hey smol, you no need to bother whether i like (or someone else) your writing or not (ofcos i do).

    do what comes natural without fear, thats what creativity is about.

    by the way, trading is also about creativity, not so much about making money. not many understood it.

    ReplyDelete
  7. Hi SMOL and coconut,

    Er, you guys talking about me or Singapore forex trader har?

    Hahaha.. ;p

    ReplyDelete
  8. sorry AK, i'm referring to Singapore forex trader. i kind of like his clearity and absolute no censor comment.

    but i do follow your blog too. lots of reits har? good place to park your money.

    ReplyDelete
  9. Apologies AK!

    Coconut and I sama sama. I was talking to Singapore forex trader; but I mix in your Hokkien bank comment...

    I also lurk at trading blogs. I forgot about salutations in my haste to reply to a "fellow" trader (swing trading is trading mah!).

    ReplyDelete
  10. Hi SMOL,
    Marianne Faithful- What a beautiful name with a beautiful face and figure. Plus a beautiful song.
    By the way, how is/was her ending?
    Sad?

    Hi coconut,
    "by the way, trading is also about creativity, not so much about making money. not many understood it".

    i like your thinking. i fully agreed. it never easy to be a creative person anyway.
    To me never look at thing in only one angle and you may discover your creativity.Never take no for an answer. Never give up till the river runs dry.
    Another words, to succeed we have to be optimistic. We have to be always ready to be open-minded before making a decision.

    ReplyDelete
  11. 1) Hi Temperament,

    Her ending OK - depending on your perspective. At least she is never apologetic or lived a life with regret. When interviwed by the media in the 80s, she said if men sleeps around, its boys will be boys. But if women does the same (like her), she is a whore...


    2) Thank you Mattarazi for your encouragement! It's good to have another trader visitiing :)

    ReplyDelete

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