dhs4K01: September 2008
Saturday, September 27, 2008

Medical Insurance Integrated Plan

As we are all quite old, 23, and you never quite know when the benevolent God would test our faith like Job. Bad things can happen to righteous people my friends, that's why we need the insurance. Some of you have asked me about insurance plans and stuff and i found this comparison of the various medical insurance plans quite useful.

Check this out http://www.moh.gov.sg/mohcorp/hcfinancing.aspx?id=342 It has a link to a spreadsheet that compares the various health care insurance plan so that you know how much Medishield is paying for your surgery etc. At a glance, you can tell the premiums of the various plans and decide which one makes more economic sense. My parents got AIA Healthshield Gold B which doesn't seem that good, in my opinion.

Note that Medical Insurance Integrated Plan is different from those insurance plans that supposedly protect you against 30 major illnesses and give you a lump sum of money. Contrary to popular misconception, the Medical Insurance Integrated Plan (which is an expanded version of Medishield, should you decide to have more coverage) is sufficient to cover the bulk of of your medical bill. Buying protection against 30 major illnesses is, in a perverse sense, buying a lottery on your ill health. For instance, if you get cancer, you can get a lump size of $100,000 (assuming that you can claim it and they don't find a loophole.) Of course, you may decide that you need a lump sum of money if you are the sole breadwinner of the family.

There are so many insurance plans out there. I suspect a lot of people including my parents don't know what they are buying or how exactly they are protected.

The more i think about it, I think Singaporeans should be thankful we have a very good health-care system in Singapore. It is a sustainable model, allows for choice at a really low cost. Just go and check out the US if you don't believe me. US is super messed up, i pay more premiums as a healthy college student than a 80 year old man in Singapore!


「 coolgoh posted at 11:13 PM 」
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Wednesday, September 24, 2008

1st September- 2nd Day in Shanghai

I woke up at around 10am and got ready to explore Shanghai. Shanghai has quite a good public transport system so it is very easy to get around the city. My travel buddy for this trip is Calvin and he would be arriving later in the day. As he has interned in Shanghai last year, he told me a list of places that I could explore on my own. Before he arrived in Shanghai, I would walk along Nanjing Xi Road to the Nanjing Dong Road (Shanghai’s version of Orchard Road.)

I left the hostel and walked towards the Jian An Temple Station to take the train to Nanjing Xi Road, Along the way, I saw a Russian buying tea in a teashop and decided to check out the price. The price of tea in this particular shop in Shanghai was about 4-5 times cheaper than Tea Chapter in Singapore. This teashop was relatively far away from the tourist traffic in a rather bad location, so the price should be reasonable. But as I knew that there was always a possibility that I might bump into another tea shop that offered a better deal, I only bought some tea. I didn’t buy a lot (by my standards, anyway) only five bottles of various kinds of flower teas which cost me around 250rmb. It was a decent deal, but the subsequent discovery of just another tea shop that sold cheaper tea confirmed my initial suspicion.

After buying my tea, I proceeded to the Jian An Temple Station. As the Jian An temple was just next to the station, I decided to just check it out. It didn’t look too impressive from the outside, especially in comparison to Tian Tan in Beijing, and had an entrance fee of 10rmb. As I backed away from the temple, I was accosted by a very persistent fortune teller who told me that I had “xiong guang” on my face and offered me a fortune-telling, for a fee, presumably. I was more amused than annoyed, grinning away, and was quite oblivious to whatever premonition that this Cassandra had to warn me. In any case, I told her I believe in Science and was not the least bit interested. Unfortunate for me/her, she didn’t get me and somehow believed that I might be persuaded into learning my wretched fate if she lowered her fees. Five minutes of my life wasted.

To sidetrack a bit, while some of you are aware that I have reservations about the Christian faith, I am equally unimpressed with the CO2 emission of Buddhist-Taoist syncretism. During the Hungry Ghost Festival, people in my housing estate burnt tons of hell notes and dirtied the entire estate. The presence of hell notes presupposes the existence of a market economy in hell for people to use the money. So hell is really not that bad, and there must be a comprehensive legal system and a Central Bank to sustain a viable market economy (Take note Bernanke, you know where you can send your resume if you screw up.) And let’s not talk about burning paper ipods, paper Mercedes etc. I suppose one has to burn paper batteries, paper earphones and paper barrels of oil as well. But then again, I am sure the hell authorities can tap on the eternal source of hell fire.

Anyway, back to Shanghai, after I shrugged off the money-making Cassandra, I tried to buy a train ticket to Nanjing Xi Road. To my embarrassment, the train attendant told me that Jian An Temple was linked to Nanjing Xi Road and I couldn’t buy a ticket. Thanks to the train attendant, I got out of the train station using the right exit and made my way to Ren Ming guang Chang along Nanjing Xi Road.

As I mentioned earlier, Nanjing Xi Road was just like Orchard Road, but the shops there had better service. Actually, Shanghai did not feel very different from Singapore, Capitaland even built a “Raffles City” shopping complex in the heart of Ren Ming Guang Chang. It is worth noting that even though both Singapore and Shanghai have women, Shanghai women seem better dressed and dare I say, look prettier too. Oops.

It is quite cheap to eat in China and I got myself my Lao Ya Fen Si Mien which was pretty good. In order to force myself to shop, I had deliberately limited the number of shirts in my luggage. Thus, I was “forced” to buy some shirts from Qi Pi Lang, a Shanghai brand. I eventually bought the shirts not because of their appearances, but rather the Chinese slogan that translated to “Believe in oneself, Believe in the Pack” or something. I love buying Timberland stuff because it claims to only “Get me from Point A to Point B” and care about nothing else. I am brand conscious in this sense. I have to admit it is rather lame.

Again, I am going too much into the details. After lunch, I went to buy tickets at the Shanghai Railway Station. My Chinese is quite bad as the ticketing officer gave me one ticket when I asked for two. After buying the train tickets, I had some awful xiaolongbao in a random restaurant and left for Da Shi Jie. Da Shi Jie is neither big nor remotely interesting and I walked back to Ren Ming Guang Chang from there.

It is worth talking about the beggars in Shanghai. They are all strategically located at places with high traffic flow and either are really dying or have great acting skills. As I walked past the Posche Show House, there was this beggar without legs, pulling himself along the road. Seeing me in the distance, he pulled himself forward before dropping his face and chest on the ground with a resounding thud, arms sprawled in a v-shaped manner for dramatic effect. Unfortunately for him, I love to think of myself as a cruel, heartless capitalist and I didn’t give him any money. In any case, I think most of these beggars belong to a well-organized syndicate, sort of like a modern day Gai Bang. I will not be too surprised to know that some might have their limbs deliberately chopped off and are thrown on the streets to earn money. Apart from this beggar, it is common to see “beggar tag teams”, comprising of a woman with a baby, or a blind old man with sunglasses, playing a musical instrument and held in hand by an old lady. I saw those Mozarts at two different locations and realized they use the same, exact musical instrument. It is rather amusing to think that the syndicate probably buy those musical instruments in bulk and rent them to the Mozarts. Anyway, I did eventually give some money to an old lady beggar who was leopard crawling along the road in Tianjin. Yes, leopard crawling. She didn’t have legs, or to be more precise, everything below the knees was chopped off. I reasoned that even if she was acting, it was a rather painful way to act. Oh, as an aside, the bowls of beggars in Tianjin have a lot more money than their counterparts in Shanghai.

After lunch and some shopping, I went back to the hostel to wait for Calvin to arrive. He eventually came and brought me to “— jie” to eat da bao, and told me that while it tasted terrible, it was a local delicacy and a must-try. So we spent 170rmb in this Marche like place and ordered the da bao alongside with other dishes. It turned out that all the other food tasted absolutely horrible and I concluded that he was wrong in assuming that the dao bao tasted bad since everything in that place was like crap. It was so bad that we decided to take a picture of it and preserve the disgust for all posterity. We went to the Bund after that and it is a lot prettier than Clarke Quay. All this while, I have been checking the price of tea in the teashops that I passed. So far, the tea that I bought I the morning was still the cheapest until we bumped into a really ulu shop that sold tea at a really low price. I would return to that place to buy 1.5kg of tea at the end of my trip. I realized that my shopping mantra is to buy in bulk or none at all.

After the Bund, we went to the top of Jin Mao Da Sha, to this bar called Cloud Nine. The view was pretty good and we spent around 170rmb. I ordered a Blue Shanghai cocktail and it tasted ok. This entry is getting too long. After drinking, we went supper in “—jie” and had some Japanese Ramen. After Ramen, we went back to the hostel and slept.


「 coolgoh posted at 11:09 PM 」
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Think again, if you want to trust your money with Mutual Fund Experts

I was doing guard duty last Saturday and I was bored enough to dig up an old issue of The Edge, a weekly financial newsletter in Singapore, dated August 4, 2008. I am sure some of you have heard of Fidelity, the world's largest mutual fund company that manages US$1.6 trillion. It is amusing to see how good they are at market timing and stock picking:

[Fidelity Magellan Fund manager Harry Lange]increased his holdings in insurer American International Group Inc by 20 million shares or US650 million at its average price in June and investment bank Goldman Sachs by two million shares, or US$351 million...

Magellan added [another] US$139 million worth of investment bank Lehman Brothers Holdings Inc in New York...

Ouch.


「 coolgoh posted at 3:50 PM 」
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Thursday, September 18, 2008

31st August -Shanghai

I touched down at Shanghai Pudong Airport at around 10.30pm and started my fourteen day trip in China and North Korea. After rotting for nearly a year in the army, I considered this trip to be a key highlight of my boring life this year. I have heard and read a lot about the economic transformation in China over the years, but I have never been to mainland China, except for the short student exchange program in Shenzhen that was organized by the prefectorial board in secondary three, and I wanted to have a first-hand feel of the place. Shanghai, is of course, the key economic center of a resurgent China and a good barometer of the economic vitality of the nation. It would be interesting to know how different it is from Singapore and have a sense as to whether it will become a key economic/financial hub alongside Hong Kong, Tokyo and Singapore.

The Shanghai Pudong Airport has the quality and standard that you would expect from an airport in an economically-developed city. It is linked to the city by the Maglev, which is the fastest train on earth with a speed up to 430km/h (apparently the Germans and Japanese are not building it because of safety considerations, but the Chinese don’t really care. After all, what’s the big deal when a trainload of people die in a country with one billion people?) It didn’t take me a long time to retrieve my luggage and take the bus to the hostel near Jian An temple. I took the bus to Jian An temple as it was the easiest and most cost-efficient option according to the information provided by the hostel.

The ride to Jian An temple was rather uneventful, but I couldn’t help noticing the woman sitting next to me was connected to the internet using her laptop. Perhaps this stemmed from my innate prejudice that the mainland Chinese were less technologically sophisticated as Singaporeans, it took me a while to process the information of a technologically sophisticated Shanghainese chatting using Skype, with the glistening skyscrapers zooming past me.

It was a pretty long walk from the Jian An temple station to the hostel. After about ten minutes of walking, I stopped at a local cafeteria for supper and picked the rather safe choice of Yang Zhou Chao Fan. It cost me 10rmb and didn’t really taste that great, for it comprised of rice, slices of hot dog and carrot. Then again, a hungry man should not complain.

Gosh, I just realized I am going too much into the details. Anyway, I reached the hostel at around midnight through a rather dark and rather dodgy passageway. After registering myself at the counter, I went to the four-bed shared room that my friend booked for me. The place looked small and cramped and it didn’t help that a rather sketchy old man greeted me and replied that he was from the moon when asked about his hometown. This, coupled with the fact that I had sore throat that day and wasn’t feel too well, were enough to make me fork out an additional 160 rmb to get a private room for myself. With the benefit of hindsight, I had a good night’s rest and it was worth the money as I woke up the next day feeling refreshed.


「 coolgoh posted at 5:41 PM 」
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Travel Log and the Market Turmoil

I came back from a fourteen day trip to China and North Korea and touched down in Singapore last Sunday. To my amazement, Lehman Brothers has filed for bankruptcy. Fannie May and Freddic Mac have been nationalized and AIG has been bailed out by the US Treasury.

I don't think there is much point in harping on how crazy and nutty the financial market is right now. I will just point out that since we are going to start work soon, the bear market is a god-sent to us. I am busy trying to accumulate cash. When the dust settles and markets eventually recover in the long run, people who buy into the market at the point of maximum pessimism will get filthy rich.

Be greedy when others are fearful and be fearful when others are greedy.


「 coolgoh posted at 5:41 PM 」
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