Banking on your character
So you want to borrow from the bank. You have thought hard about it and figured that debt capital is the only missing link for you to be the next
So you want to borrow from the bank. You have thought hard about it and figured that debt capital is the only missing link for you to be the next
We have received some requests to discuss credit cards. We are not surprised as these plastics have become ubiquitous to a growing segment of our people. There have been around 7 million cards issued, with roughly 1.5 or so cards per person. We could not resist the pun and put up the title above. We could force an analogy in the sense that just like any kind of debt, a credit card could be a hammer to build or it could be a sickle to cut and deconstruct.
Today, we take a turn and leave investing in the meantime. Let’s go to debts or borrowing. At any rate, it looks like the heightened volatility in the financial markets since the last week of May is tapering off this July.
In June, the markets did the jerk. They danced up and down and roiled throughout the month. From its peak on May 15 to end June, stocks are about 13% lower, after falling more than 20% at its lows. The long bonds, on the other hand, are down around 12% in value after losing around 20% at its lows. And the peso hit a low of P44.17 against the dollar.
Some readers found our piece last week ‘bitin’or rather vague. We understand the reaction. But our intention was not to tell people to invest or not. It was to show that investing is not as simple as listening to so-called experts say where the markets will go.
Last week, we promised to discuss how to make our savings work for us. Keeping money in a vault, in bedroom drawers, secret walls, or burying it under the ground won’t do it. Aside from not earning, you might forget where you put it or somebody might find and get it. It could pose a security problem. Money starts working when it is invested. And it has to be invested very carefully especially since the financial markets have been rather restless recently.
Suppose there are real geese that lay golden eggs and each egg can be sold for P10 each. On their first laying year, the geese uniformly lay 10 eggs, generating
‘A banker is someone who offers you an umbrella when the weather is fine and snaps it back at the first sign of rains. They offer all sorts of loans to the moneyed and those who don’t really need it but snub those who need their assistance badly.
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