Is the Modern Portfolio Theory Applicable to Managing Consumer Loan Portfolio?

Before I elaborate on the thoughts, I should give readers the typical risk management framework for existing customers used in consumer loans (In a mature market, the contribution of new users is relatively small). Users are segmented into different risk tiers corresponding to predicted default risks. It is similar to some credit rating agencies, like …

Summary On Bold vision: the untold story of Singapore’s reserves and its sovereign wealth fund

Recently, I have a chance to pick up a book on the history of GIC (Government of Singapore Investment Corporation). The book gives important backgrounds of the creation of GIC. In my opinion, it is a short history of Singapore’s reserve management and its currency. In 1965, Singapore separated from Malaysia to become an independent …

How to Understand the Business Cycle Through Economic Indicators?

We read a lot about the economy in the news. They are like data points describing the state of the economy, such as GDP, capacity utilization, purchase managers’ index, cpi, etc. Without a general framework in mind, it is overwhelming. We need to have a framework in mind even if it may not be correct. …

Take Control of Your Time! Detox From Social Media.

Time is the most precious resource. With the advancement in technology, it becomes more difficult to safeguard time. I am an iPhone user. After checking the “Screen Time”, the top 3 most used apps are WeChat, Instagram, and YouTube (Actually, the 3rd is Safari. But it is less likely to waste time in Safari). In …