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Sunday, 18 August 2013

Dog poses as lion - you gotta be kidding me!

Dog poses as lion in China.

As you read the article above from MarketWatch, do click the link to another related article on The Telegraph about the museum in Jizhou with 40,000 fake exhibits.

You gotta be kidding me right?

During my 4 years in China, I've encountered my fair share of fake beggars, fake monks, and fake Buddhist/Taoist temples. Yes, there are "prosperity temples" too! All you need is to pay a "bribe" to the "gods" and all your fears and troubles will "magically" go away.

I am ashamed to say that during my last year in Shanghai, I would keep walking straight whenever I am approached by strangers for help. My bleeding heart has gone cold and hard. You just don't know who to trust and what to believe anymore...

No, it's not China bashing. I like China. My overall experience in China is a positive one. 

I am just writing to say we in Singapore are not as lucky as our counterparts in China.

At least these fakes in China are easier to spot once you trust your instincts: "Hey! They are not wearing any clothes!"

In Singapore, we have our share of fakes too. But they are harder to spot. 

Like Bernard Madoff's ponzi scheme, the Gold Trading scams in Singapore were only revealed once the tide goes out to sea - revealing who's naked.

If there were no sub-prime melt down, and gold continue its ascent beyond $1,900; and we are clients of these schemes, would we pay heed to the warnings from others? I think not!

How about relationships? 

What if your shepherd sensei turned out to be a paedophile? 

Your mentor's hands were caught going into the cookie jar?

A person whom you thought was your friend turns out to be only interested in monetising the relationship?

Don't be too smug or over confident.

We may have these similar experiences: 

100 people in a room; 99 says the picture is a lion. But it looks like a dog to you. What do you say?

You complain about PAP all the time at your favourite coffee shop. Loudly some more. Then one day during election campaigning, a PAP minister or MP visits the coffee shop and wants to shake your hand, what do you do? Knowing journalists and cameras are present?

Well, there and then when the tide is out we know who we are! REAL or FAKE!



  1. The Zoo should have done this.

    Lion Dog(in very small print)


  2. i say, "Anything is possible".

  3. 1) CW,

    Or "You guess!" on the sign. LOL!

    2) temperament,

    It really is. Museum also can show fakes... Don't know the organiser stupid or they really think their country men are really that stupid?

  4. is it important to know who are real deal and who are fake?

    1. coconut,

      Ignorance can be bliss I guess.

      Or if you don't mind paying $20,000 for a "Rolax" watch.

      First class fake in China is using real Rolex casing but the mechanism inside are all fake... You'll only know when taking it for maintenance or repair.

      How about buying gold bars with tungsten on the inside?

      Well, you got personal experience with MF Global. The separation of clients' funds turned out to be "fake"...

    2. you miss my question.

      anyhow, even if i know that the accounts are not seperated from MF access, i still will put my money there. do i have a choice?

    3. maybe to a investor, he is keen to find out who are the fake management and accountings of a company but not me. thats not my job.

      so for you, you probably more sensitive to fake and the likes but me, i'm looking more on mis-match or discrepencies.

    4. coconut,

      Yes, there's always a choice ;)

      Arbitrage is indeed risk-free if you are as quick as the algos. Then I agree that real or fake not important - provided SGX don't reverse the trades.

      For a intraday trader who trades in seconds and minutes, there is risk of - fake twitters, fake rumours, fat finger trades like last Friday in Shanghai; etc - where you get stopped-out for &%$@#$!!$^(& reasons.


      But I must agree that having no overnight positions is less risky to fake or real considerations. You don't even care the ticker symbol; it's all about price action.

    5. how can arbitrage without risk? please teach me le.

      many pro traders got kill becos of arbitrage gone wrong, so as the investment bank who lost billions. no risk my...

      arbitrage or hedging only provide us with another avenue (hows my english? haha) of risk management provided we use it properly.

    6. and over night position? one thing i know is this, if you don't have a (over night) position, you will not be able to profit, no position, no profit.

      i must have a position(s) all the time, be it long or shorts.

    7. Ha ha! Got you!


      To retail traders, there are lots of execution risks. The profit potential looks "real"; but try executing them it turned out to be "fake"...

      For market makers and algos, its a different story.

      Well, somebody says he can trade price discrepancies and mix-match??? You must be faster than the algos!

      It's my way of saying: "Got shadow or not?"

      Joke only hor!

    8. a trader is not a investor, where he can sit til no tomorrow.

      a trader has to squess as much profit as he can through his positions, for there are many bills to pay including many losses.

    9. that is a very good article! explain to you many form of arbitrage, some also new to me haha.

      it is exactly what he say, seaching for price discripencies. it is also one, just one of my strategy.

    10. coconut,

      It's fun bantering with you. I learn a lot of new things too!

      Academic or theory definition of arbitrage is risk-free. But when it comes to practice...

      I still remember how I messed-up pairs trading big time!


    11. when you start looking the world at a relative way, everything seems to open up to you, you will be able to see the differences where others can't, and profit from it.

      so fake or no fake,

      well, they are all fakes, thats how i see it!

  5. One advice from one top performer, if boss ask anything, just fake it first and then quickly find out how to do it later. LOL!

    1. oh sure!

      "got fall asleep or not?"
      "no sir no sir!"
      "so no enemy insight?"
      "no sir no sir"
      "later 2000 hours go and secure the fense again. got it?"
      "yes sir yes sir!"

    2. CW,

      Fake it till we make it!

      That's why salespersons (and new executives) dress like a success starting out!

      Once made it, wear T-shirt and slippers. LOL!

    3. Wear T-shirt and slippers. That sounds like me. But, not successful in sales. :-(


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