Seriously fucked.
Dun have enough time to finish.
Actually, quite a lot undone.
Gonna lose a lot if retake next year.
Too much pleasure, too little pain.
2012年12月29日
2012.12.24
Xmas Eve
Spent it casually coz exam is coming...
From me...
For me...
A nice home-made dinner~
2012年12月21日
2012年12月19日
...
MOS Burger在北角开了新店~
就在健威坊~
so great~
价格比麦当劳贵不少~
套餐更是不划算~
不过最近期内限定的蘑菇和牛汉堡不错~
里面还有些南瓜~
不吃南瓜的我都觉得ok~
就在健威坊~
so great~
价格比麦当劳贵不少~
套餐更是不划算~
不过最近期内限定的蘑菇和牛汉堡不错~
里面还有些南瓜~
不吃南瓜的我都觉得ok~
港译"收购风云"...
Richard Gere... yeah~
每逢这个时候,又是各大窝轮商送礼买人心啦~
当然,这些日历啊利是封啊,
target很明显了,就是师奶们~
去过窝轮讲座之类的就知道,
现场派的宣传环保袋,宣传笔什么的,
师奶们拿得最开心了...
这些万恶的窝轮商赚了这么多钱,
小恩小惠施舍一点也无所谓~
我也当然不会跟他们客气啦~
网上点一下,就可以申请寄过来~
上面那个是CS的,还算漂亮~
不过今年好像只有2家窝轮商有派日历~
PS:
打电话去恒生卡中心,不给waive...
官网发email再去问,第二天就收到电话,
说可以waive了...
这种事情真的要坚持啊~
很多都可以waive的...
好吧,恒生你差一点失去一个忠实客户了!
哈哈....
2012年12月17日
2012年12月12日
2012年12月6日
2012年12月4日
Chrissy Costanza
Very pretty on MV.
And beautiful voice~
Just thought why she looks so familiar,some mentioned Nina Dobrev from Vampire's Diary.
Oh yes.
And beautiful voice~
Just thought why she looks so familiar,some mentioned Nina Dobrev from Vampire's Diary.
Oh yes.
2012年12月1日
2012年11月27日
...
I know it is pretty old, but still worth re-visiting.
Overheard on the Goldman Sachs Elevator @GSElevator
#1: She’s only about 3 weeks of anorexia away from looking hot.
#2: Maybe 4.
#1: Groupon… Food stamps for the middle class.
#1: A guy came up to me at the gym and asked me what event I was training so hard for. Life, motherf#cker.
#1: Walking around the protesters outside makes me feel like how a black guy must feel in the gym shower.
#1: You’re going to Hell in just about any religion.
#2: First class, baby…
#1: Bareback is the new 3rd base.
#1: Money might not buy happiness, but I’ll take my f#cking chances.
#1: Almost time for children to learn a valuable life lesson. Santa loves rich kids more.
#1: Black Friday is the Special Olympics of capitalism.
#1: Getting laid off from Goldman is like being traded by the Yankees. You’ll probably still make millions, but it’s just not the same.
Overheard on the Goldman Sachs Elevator @GSElevator
#2: Maybe 4.
#1: Groupon… Food stamps for the middle class.
#1: A guy came up to me at the gym and asked me what event I was training so hard for. Life, motherf#cker.
#1: Walking around the protesters outside makes me feel like how a black guy must feel in the gym shower.
#1: You’re going to Hell in just about any religion.
#2: First class, baby…
#1: Bareback is the new 3rd base.
#1: Money might not buy happiness, but I’ll take my f#cking chances.
#1: Almost time for children to learn a valuable life lesson. Santa loves rich kids more.
#1: Black Friday is the Special Olympics of capitalism.
#1: Getting laid off from Goldman is like being traded by the Yankees. You’ll probably still make millions, but it’s just not the same.
2012年11月26日
2012年11月15日
Fund Investment - Fee
Expense ratio:
ETF - 1%
Fund - 1-5%
Hedge Fund - 2%+20%
We can view the expense of ETF as pure adminstration fee (custodian, rental, back-office etc.). No payment for investment intelligence.
The 2% fee for hedge fund is of the same nature as above. Except, of course, the high-end hedge funds inevitably have higher admin fees (rental in class A buildings, promotion dinners at clubs, business trips)., which is also justifiable.
Whether the 20% performance is suitable for investors depends on your portfolio, your need, and your investment philosophy. No comment here.
Now, comes the main topic today.
Traditional funds commonly invest 90% in broad index stocks and the rest on a discretional basis. That means, the active portion of investment, which generates alpha, is only 10%. But it charges much higher fees than ETF. This is call "dead weight".
Clearly, traditional funds are not a good choice for ordinary investors in terms of fee charged, regardless of the headache in the process of selecting funds.
ETF - 1%
Fund - 1-5%
Hedge Fund - 2%+20%
We can view the expense of ETF as pure adminstration fee (custodian, rental, back-office etc.). No payment for investment intelligence.
The 2% fee for hedge fund is of the same nature as above. Except, of course, the high-end hedge funds inevitably have higher admin fees (rental in class A buildings, promotion dinners at clubs, business trips)., which is also justifiable.
Whether the 20% performance is suitable for investors depends on your portfolio, your need, and your investment philosophy. No comment here.
Now, comes the main topic today.
Traditional funds commonly invest 90% in broad index stocks and the rest on a discretional basis. That means, the active portion of investment, which generates alpha, is only 10%. But it charges much higher fees than ETF. This is call "dead weight".
Clearly, traditional funds are not a good choice for ordinary investors in terms of fee charged, regardless of the headache in the process of selecting funds.
2012年10月29日
...
民生银行到了丰收的季节咯~
虽然之前说过绝对长期持有..
神马每个月买一手的...
well u know...
我们小散户...
什么长期持有都是搞笑的...
哈哈...
统计了一下...
从5月开始到现在...陆续买进卖出...
holding period return (以最大shareholding值作分母): 8.39%
IRR (粗略): 10.09% (年化有21%! 如果一直这么好运的话)
所以才知道google finance的8.39% overall return原来是HPR...
这种算法假设portfolio可用值不变,且假设就是最大shareholding值...
对于我而言还是准确的 (只是将cash saving变成equity,根本没有追加投入)
但对于每月供一手股票的人来说,HPR会低估实际的表现~
最近开始,工资应该能剩下足够的钱,
让我每月一手民生...
let's hope it can work!
虽然之前说过绝对长期持有..
神马每个月买一手的...
well u know...
我们小散户...
什么长期持有都是搞笑的...
哈哈...
统计了一下...
从5月开始到现在...陆续买进卖出...
holding period return (以最大shareholding值作分母): 8.39%
IRR (粗略): 10.09% (年化有21%! 如果一直这么好运的话)
所以才知道google finance的8.39% overall return原来是HPR...
这种算法假设portfolio可用值不变,且假设就是最大shareholding值...
对于我而言还是准确的 (只是将cash saving变成equity,根本没有追加投入)
但对于每月供一手股票的人来说,HPR会低估实际的表现~
最近开始,工资应该能剩下足够的钱,
让我每月一手民生...
let's hope it can work!
2012年10月28日
...
http://www.nytimes.com/2012/10/26/business/global/family-of-wen-jiabao-holds-a-hidden-fortune-in-china.html?pagewanted=all
竟然有重量级的媒体敢报道出来...
hello 宝宝
good luck 宝宝
竟然有重量级的媒体敢报道出来...
hello 宝宝
good luck 宝宝
2012年10月24日
2012年10月20日
2012年10月18日
...
Something about audit, tax & listing rules:
1.香港公司条例要求所有香港公司(除了dormant)都要出示核数帐目
2.交税(香港or外国公司)一般要附上核数师报告,当然有一些例外~
More illustration:
3. 上市公司一般需要提供HKFRS或IFRS的帐目(有时可以US GAAP)
1.香港公司条例要求所有香港公司(除了dormant)都要出示核数帐目
Every Hong Kong company is required to keep proper books of accounts which give a “true and fair view” of the company’s financial position. Section 122 of the Companies Ordinance provides that, unless the company concerned is a dormant company, audited accounts must be presented to the members of the company at the Annual General Meeting ("AGM") within a prescribed time limit.Source:http://www.rccpa.com.hk/service2.htm
2.交税(香港or外国公司)一般要附上核数师报告,当然有一些例外~
For corporations, audited financial statements should be submitted with the returns in all cases except:-
(a) for small corporations as defined in the "Notes and Instructions" to return;
(b) for dormant companies within the terms of the Companies Ordinance;
(c) for companies incorporated in a jurisdiction whose laws do not require accounts to be audited; and
(d) for Hong Kong branch of a foreign company provided that the following information is supplied together with the return:-
(i) the place of incorporation of the foreign company,
(ii) whether the laws of that country require a statutory audit of the world-wide accounts of the company,
(iii) whether that audit has been conducted, and
(iv) a brief summary of the financial and accounting records maintained by the Hong Kong branch.Source:http://www.ird.gov.hk/eng/tax/bus_cpt.htm
More illustration:
問 6 離 岸 公 司 在 提 交 利 得 稅 報 稅 表 時 ， 是 否 須 要 提 交 經 審 計 的 帳 目 ？
答 6 如 離 岸 公 司 的 註 冊 地 區 沒 有 法 例 規 定 須 審 計 帳 目 ， 而 該 公 司 的 帳 目 亦 未 經 審 計 ， 稅 務 局 會 接 受 該 公 司 提 交 未 經 審 計 的 帳 目 作 為 報 稅 表 的 佐 證 。 不 過 ， 如 果 帳 目 確 實 經 過 審 計 ， 即 使 有 關 地 區 的 法 例 沒 有 審 計 規 定 ， 該 公 司 也 應 該 把 經 審 計 的 帳 目 連 同 報 稅 表 一 併 遞 交 。 如 離 岸 公 司 的 總 部 設 於 香 港 以 外 的 地 方 ， 但 在 香 港 設 有 分 行 ， 稅 務 局 一 般 都 會 接 納 未 經 審 計 的 分 行 帳 目 ， 而 無 須 附 加 經 審 計 的 環 球 帳 目 。 不 過 ， 評 稅 主 任 可 視 乎 情 況 需 要 而 要 求 提 供 經 審 計 的 環 球 帳 目 。Source:http://www.ird.gov.hk/chi/pdf/c_faqciohk.pdf
3. 上市公司一般需要提供HKFRS或IFRS的帐目(有时可以US GAAP)
Accountants' report Must be prepared in accordance with either Hong Kong Financial Reporting Standards or International Financial Reporting Standards Generally accepted accounting principles in the United States of America (US GAAP) or other accounting standards may be acceptable by the Exchange under certain circumstances In general, accountants' report covers at least three complete financial years, immediately preceding the issue of the prospectus The latest financial period reported on by the reporting accountants must not have ended more than six months before the date of the listing documentSource:http://www.pwchk.com/home/eng/ipo_cmsg_mainboard.html And recent updates:
根據香港聯合交易所有限公司（「聯交所」）於二零一零年十二月刊發的《有關接受在香 港上市的內地註冊成立公司採用內地的會計及審計準則以及聘用內地會計師事務所的諮 詢總結》，獲中華人民共和國財政部（「財政部」）及中國證券監督管理委員會（「中國 證監會」）批准的內地核數機構在就截至二零一零年十二月十五日或之後止的財政年度向 內地註冊成立的發行人提供服務時，可採用內地的會計準則。
2012年10月14日
2012年10月8日
2012年10月4日
長隆
國慶4天假和某小豬去廣州長隆玩玩~~
住維也納酒店,性價比不錯~ 當然沒有長隆酒店那麼豪華`~
第二天,玩香江動物園,晚上看大馬戲~
(交通方面,高鐵免談,直通車也爆了,和諧號竟然也要等! 幸虧來回都不是等很久~)
非洲劇場
食蟻獸
幼虎... 在幼兒園 XD
更小的幼虎... 在喝奶粉...
小浣熊 (不是方便麵 XXD)
坐遊覽火車逛 Safari on train
大象劇場, 它們好聽話啊...
大笨象會跳舞...~~
大馬戲,由於太精彩了,來不及照相...
照了劇場,很豪華~
第三天,去廣州市區,住7天...
逛小蠻腰,上下九~
小蠻腰造型不錯~ 我喜歡~
108樓E區鳥瞰
夕陽珠江~
摩天輪裡看夕陽~
摩天輪繞一周據說是20min...
正!
晚上在小蠻腰2樓觀景台看IFC~
上下九, "長坂", 笑了...
雙皮奶不錯!~
食街&購物街
第四天,check out,吃飯,準備走...
結果看到附近有很多奇裝異服玩cosplay的人..
於是打聽一番,原來附近創意園有啥show還是什麼...
果斷拖著行李箱去看,...
還是有些美女的!!!
當然更多的是一大群宅男和他們的單反!!
想不多廣州很多人玩cosplay啊...
總的來說,還是很不錯的...
住宿+門票: 1000左右 per person
吃飯買東西：1000 total
以上不包火車票~
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