Comments on: Pinnacle Notes Price Quotes and Updates

By: Yvonne Choo

Yvonne Choo — Wed, 23 Dec 2009 08:09:36 +0000

I almost bought into the Pinnacle Notes 6/7 series. When I enquired about the so-called “underlying” CDO, the bank officer could not explain. She said so far no one ever enquired and I was the first investor to enquire though many investors had bought the earlier series. She told me to read the thick brochure as every thing was written in it. So I said ‘fine’ and requested that she highlight to me where was the information that i requested. Because she could not do so even though she was selling the product, we decided not to invest even though the dividend payment was good. So it was a blessing in disguise.

This is my tactic. Whenever I attended any investment consultancy meetings with the so called Sales Consultants, I ask this One important question……What ever good things I can accept…..Just tell me what is the worst that can happen to my investment?……If the Bank Officer is stunned by your question and cannot answer your question, just give an excuse and get ready to leave… Ha Ha. Through my experience, these poor Sales Consultants do not have any knowledge of the products they are selling.

By: sureesh

sureesh — Wed, 23 Dec 2009 00:45:10 +0000

Which series did you buy

By: Iris Sim

Iris Sim — Tue, 22 Dec 2009 09:43:36 +0000

If you are involved in the notes, you probably would not say the
consumer should bear the blame.

By: Intheknow

Intheknow — Tue, 22 Dec 2009 09:24:48 +0000

sorry typo..

i meant the consumer should ALSO bear the blame when an investment fails.

By: Intheknow

Intheknow — Tue, 22 Dec 2009 09:23:31 +0000

iris… i think your comments are quite one-sided.

The consumer should only bear the blame when an investment fails.

If a consumer blindly signs an agreement without clarifying what it is all about, whose fault is it?

If you sign a house purchase agreement which states the purchase price is 2million dollars when verbally someone tells you it is 1.5million dollars, whose fault is it when you end up having to pay 2million dollars by law?

I agree that all these CDOs are complicated. Thus, consumers should have avoided them if unsure. Not sign blindly then kick up a fuss when CDOs blow up.

If CDOs hadn’t blown up, everyone keep quiet and smile to the bank right?

NOT FAIR!

By: Iris Sim

Iris Sim — Tue, 22 Dec 2009 05:29:04 +0000

The only thing I can say about all these notes were a scam to borrow
money without the responsibility of repayment. The banks who sold the
notes did not even know what they are all about. They just present you a
stack of papers to sign and tell you they are all standard terms and
conditions. I can only conclude that Morgan Stanley is the main culprit
behind these scams. As a customer who bought these notes, I am sure
99.9% of the investors are not aware of the so-called ‘underlying’ CDO.
When you ask for the list after the fiasco, most will be surprised it is the
first time they are seeing it. Therefore, how can the banks claimed they
have explained fully to the customers.
Public feedback on this will be appreciated.

By: lioninvestor

lioninvestor — Wed, 21 Oct 2009 23:18:05 +0000

Pinnacle notes briefing for class action suit.

http://www.lioninvestor.com/proposed-pinnacle-class-action/

By: sureesh

sureesh — Mon, 06 Jul 2009 07:14:47 +0000

I cheked mine too, also nothing. It is supposed to be today. I think morgan stanley pays cdp today and cdp credit to our account tomorrow. That happened for the last payout in Jan

By: sad

sad — Mon, 06 Jul 2009 02:37:31 +0000

does anyone know if pinnacle series 7 made payout today? cos I checked bank account and it is not in yet.

By: sureesh

sureesh — Thu, 04 Jun 2009 04:06:19 +0000

It seems that notes series 6 has been downgraded to C from BBB.
How would this impact the notes, series 10 became void when it was downgraded to CCC. so haow far is C from CCC.

This Pinnacle thing is fare more risky then presented. We are just waiting t see if it goes bust. Have to keep the notes until 2013 before that anything could happend further downgrades, further credit events