Sunday, January 27, 2008

Party Of The (New) Year 2008

Friday we had our company's crazy New Year Party, that was formally known as the Late Christmas Party. It was wild, to say the least. As usual, alcohol was free flowing and everyone was dressed fancy. Me the boring one was wearing almost the same stuff I wore last year with a few additions (like really tight leather pants, police baton and kinky furry handcuffs).

As you can see, I was quite drunk along with everyone else. By the end of the night my tight leather pants was torn all over and I had to throw it away. More pix when they're published on the company's website next time!

Thursday we went to try a new golf course (new because we hadn't played there before) in Skudai, Johor. Its called Pulai Springs and it was the worst maintained course I've seen, actually. I had no excuse for my lousy game and I ended up with a score of 133, Youlong 132 and Eugene 111. All of us didn't do to well. Maybe its the stress from the KPGA participants playing there.

The Soc Gen fraud case that cost the French private bank EUR4.9 yards is extremely disturbing. Largely, because it squared off most of its positions on Monday and Tuesday while the whole market was selling off (causing Dow futures to hit its limit down figure of -650!) thereby prompting the Fed to cut rates 75 bp. The question now is whether SG's liquidating of trades during that period was a factor in prompting the emergency cut (not seen since 911) because if so, then chances are that the Fed wun be so eager to cut rates this week anymore. And considering that the market has priced in a 50bp cut already, brace yourselves for more volatility ahead.

Monday is gonna look quite ugly.

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