Thursday, December 3, 2009

Bursa rejects request to cancel error trade for Ge-Shen at 4c each

Long time ago, when I first learned about the law, one very important principle of law that I will never forget: Ignorantia legis neminem excusat . Nope I don't speak Latin, just pretend. That phrase simply means ignorance of the law is no excuse. You can't say I don't know about content of a contract that you have just signed on the dotted line or you don't know Singapore government is going to rotan you when you are vandalizing their public property.

When I first learned to play chess, the first rule my teacher taught me was touch-move, you must make a move on the piece of chess that you touch. No if, no I'm sorry, a decision is made live by its consequences.

When I first learned to gamble, I locked my last $ 100 in my room. What the hell is that for? In case you lose all your money, you still have enough money to take a bus to go home.

What's my point you begin to wonder. What Bursa did to reject a request to cancel an erroneous transaction was a right one.

(TheedgeMalaysia)KUALA LUMPUR: Bursa Malaysia rejected a request on Thursday, Dec 3 to cancel an erroneous transaction involving 200,000 shares of Ge-Shen Corp Bhd as the shares were transacted at four sen each.

The transaction was executed at 9am.

At 11.42am, Ge-Shen share price was down six sen to 27 sen with 301,000 units done.

If we want to execute a trade via online, so be very careful. It's an important lesson for all. Alternatively, just call up the broker to do it for you -- if it is involving a large transaction.

Speaking of living by consequence caused by own doings, Tiger Woods made a big mess out of his life. We are in no position to judge him, but he handled this much better than Bill Clinton. Hope he can do what he does best, get on the green in two -- from five foot tall grass, though I was wondering why got ourselves landed in tall grass in the first place?

Dec. 2 (Bloomberg) -- Tiger Woods, the world’s top-ranked golfer, said he let his family down with “transgressions” and hasn’t been true to his “family values” amid reports of extramarital affairs involving him.

Woods, 33, made the comments in a statement posted on his Web site today, less than a week after a single-car accident outside of his home led to scrutiny of his private life.

“I have let my family down, and I regret those transgressions with all of my heart,” Woods said. “I have not been true to my values and the behavior my family deserves. I am not without faults and I am far short of perfect. I am dealing with my behavior and personal failings behind closed doors with my family. Those feelings should be shared by us alone.”

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