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Post by puregold on Oct 28, 2013 9:06:39 GMT 7
The word "remisier" does not sound alien to people in Singapore and Malaysia. But many foreigners do not know what "remisier" means. MS Word spell check treats it as a wrong word. Dictionary.com does not have such word. A check with Wikipedia shows that: "A remisier (also known as a Commissioned Dealer's Representative) is an agent of a stockbroking company and receives a commission for each transaction handled (as compared with a paid dealer's representative, who is a direct employee of a stockbroking company and whose remuneration structure is based on a fixed monthly salary). Although the origin of the word is French (“remisier” means “an intermediary”), and although remisiers are still a feature of the Paris Bourse, the term is now most commonly used in the context of the Kuala Lumpur Stock Exchange (or Bursa Malaysia) and the Singapore Stock Exchange....
Historically, remisiers first appeared in the region during the colonial period in Malaya...."A French term appearing in British colonies Singapore and Malaysia but not in Hong Kong, interesting. |
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Post by oldman on Oct 28, 2013 9:28:55 GMT 7
When Blumont, Asiasons and LionGold crashed, I heard that many remisiers had sleepless nights. This is because remisiers are responsible for the debts of their clients. If their clients fail to pay up, the broking house will go after the remisier. In the crash of 2008, many remisiers became debt collectors and had to knock on the doors of their clients in the early hours of the morning when they know that their clients will be in the house!
So the job of a remisier is not easy. They have to bear the risk of default by their clients and it really is difficult for them to know the true financial status of each of their clients. After all, their clients only want to open an account and one cannot ask too many probing questions especially on one's financial standing. Put another way, broking houses don't mind sharing the commissions with remisiers as they are protecting the broking houses from the client's bad debt.
Of course broking houses too have their own trading team which trades on the broking house's account. These brokers are paid workers as compared to remisiers who are more like their own bosses. Remisiers can choose their clients but have to bear the risks of their clients.
Brokers on the other hand, are paid a monthly salary to trade on behalf of the broking house. I heard that many broking houses lost millions of dollars each trading on their own accounts, on those 3 stocks that collapsed recently.
Next time you speak with your remisier, do be nice to him as frankly, he has a tough job. He takes tens of dollars of commission per trade but has to bear the full financial risks of his clients defaulting on their payments.
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Post by me200 on Nov 1, 2013 9:16:38 GMT 7
sad that the people still fall to greater fool cycle ... the greed take control.
Some investors facing legal action over losses Published on Nov 01, 2013 www.straitstimes.com/premium/top-the-news/story/some-investors-facing-legal-action-over-losses-20131101... one investor "Joseph" forked out $120K of his retirement saving on Blumont @$2.40 and hope it goes up >$3. Now his stake is worth only $5.8K.
... Sources say that many pledged their other stocks or secured bank overdrafts on their property for more credit. For those who have used homes as collateral, this means they have to find some way of raising funds to repay the overdraft, or risk losing the property.
... Industry players say that broking firms may also choose to go after the client's remisier, who act as guarantors for investors.
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Post by oldman on Nov 1, 2013 9:21:12 GMT 7
Yes, sadly, in our stock market, some gain, some lose. For me, this is the time to queue lower for the stocks that I am collecting as chances are, there will be some fallout from investors who may have to liquidate their positions due to margin calls. Such is life.
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Post by candy188 on Nov 1, 2013 11:33:55 GMT 7
sad that the people still fall to greater fool cycle ... the greed take control.
Some investors facing legal action over losses Published on Nov 01, 2013 www.straitstimes.com/premium/top-the-news/story/some-investors-facing-legal-action-over-losses-20131101... one investor "Joseph" forked out $120K of his retirement saving on Blumont @$2.40 and hope it goes up >$3. Now his stake is worth only $5.8K.
... Sources say that many pledged their other stocks or secured bank overdrafts on their property for more credit. For those who have used homes as collateral, this means they have to find some way of raising funds to repay the overdraft, or risk losing the property.
... Industry players say that broking firms may also choose to go after the client's remisier, who act as guarantors for investors. Majority of the investors didn't consider risk management (downside of losing their capital) but focus merely on capital gain (upside potential).  
Dr YC Chan mentioned in his book, Market Revelation, 市场给你的101个投资啓示： Shares Investment is afterall a Highly Risky Game.
“股市投资毕竟是风险很大的游戏， 我相信《上得山多终遇虎》的哲学。
With a smooth investment journey from the onset, one will become OVERLY-Confident,
===> as a result, will pour Increasingly amount of funds into the bull market.
 =====> Ultimately, when the fund is being wiped out during the finale of bull market, one may Not have the opportunity Fund to restart the "Business", especially when one is near retirement age.
如果你一开始投资就很顺利，无往不利，你过度的自信心会使你投入的资金越来越多，结果，在临退休，最后的一个周期翻了船， 你可没有本钱东山再起了。” |
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Post by puregold on Nov 1, 2013 16:54:42 GMT 7
Once upon a time, remisier was a dream job.  |
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