Quarterly - local CFA Societies

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oard member’s Messagepg 3CFA CHARTER AWARDSGrace Wu gets CFA Charter & Doctorate at the same timepg 4 - 8Financial Steering through turbulenceand uncertainty…Liquidity gates that good CFOs guardPG 9 - 13Anatomy of a bearRussell Napier in SingaporePG 14 - 17Movie Nite – Real SteelPG 18 - 20Calendar of EventsPG 23
Not surprisingly, given how rigorous the CFAstandard is, we are self-starters: many of ourmembers are already doing their part to helpsociety. Let me just highlight a few.One of these is the regular food distribution group,Happy Angels, led by Danny Lee and Bun TuckChee. The group consists of 7 members who havecome together regularly for the past one year todistribute basic necessities and food items to oneroomHDB dwellers with their own monies andresources.Boardmember'SMessageWHAT CAN CFA MEMBERS DO FOR THECOMMUNITY?The Occupy Wall Street demonstration in majorcities around the world is into its 3rd month.Slogans such as "we are the 99 per cent" naturallyraise questions about the remaining 1 per cent.We may have different views on these protestorsbut regardless of your social or political orientation,it is a fact that there are many CFA charter holderswho are among the highest income earners insociety. Many of us work hard, are good at whatwe do professionally and are paid handsomely forour efforts. However, if we can take a step backand be frank with ourselves, we may also want totake stock of the fact that many of us have beenlucky to be in the well-paid financial industry in thefirst place.Looking after its members is among the importantjobs of the Society. To that end, I wish to highlighta few things CFA Singapore has been doing.An example is our efforts at Investor Education,which is among the most important agenda ofCFA Singapore. We are working closely with theuniversities and the authorities in Singapore to liftup the financial literacy standard here. While it isalso important to let our members know that the"community" is adopted as a stakeholder by CFASingapore, at the end of the day, it is up to us asindividuals to ask what can we do for the community.Another group of CFA members led by Lim JitSoon, Desmond How, Chia Tse Ern and Ng CheeChye have come together on their own to set up abursary scheme for twenty needy students in theiralma mater.Another avenue that CFA members can help isto leverage our financial discipline and expertiseto help in advising non-profit organizations.There are already a few of us, such as Tony Tanand Marcus Lam, sitting on boards of charities,educational foundations and governmental bodies.CFA Singapore is stepping up its efforts to connectmembers who are like-minded to share theirexpertise.Frankly, many of us are wealthy in the materialsense, but we should aspire to a loftier ideal. Toquote French playwright Moliere: “A man’s truewealth is the good that he does to his fellow men.”On behalf of the CFA Board, we wish you a restfulholiday season and may the spirit of charity andgiving be with you into the New Year 2012.What can YOU do to make life a little easier for theless fortunate in our society?Tan Chin Hwee, CFA, CPABoard memberCFA SingaporeHappy AngelsPage 3
Page 8 and 9: We must constantlyeducate ourselves
Page 10 and 11: (I) DEBT MATURITYThe lessons back i
Page 12: (III) Protect CapitalThe main lesso
Page 15 and 16: Popularized by Robert Shiller, the
Page 17: Russell Napier is an Edinburgh-base
Page 20 and 21: More eventsProfessional Development
Page 23 and 24: Upcoming CFA Singapore EventsDate T

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