Sharp Lucky Tan has spotted this news on Bloomberg.
May 15 (Bloomberg) — Temasek Holdings Pte sold its 3.8 percent stake in Bank of America Corp. at a loss that may total $4.6 billion, as the Singapore state-owned fund shifts bets from Wall Street to emerging markets.
Hey Minister Mentor God Lee, where’s the long term you were talking about again? Looks like we made a big loss, we didn’t borrow the money to invest, BUT WE STILL LOST MONEY. Why didn’t we hold those investments for 10, 15, 20 years? Not enough money to invest in China? We can always move back the CPF withdrawal age! After all, our old people can work till they die but that doesn’t matter right?
“When we invest, we are investing for 10, 15, 20 years. You may look as if you are making a big loss today, but you have not borrowed money to invest. You will ride the storm, the company recovers, your shares go up.” – MM Lee Feb 2009
The older I get, the more I get confused. 3 months = 5,10,15,20 years?
3 Comments
May 16, 2009 at 10:20 am
This is only what has come to the surface.
Wonder if there are more waiting to be revealed?
May 16, 2009 at 2:27 am
Well, Ho Ho is on the hot seat anymore.
Is it so coincidental?
It reminded me of the last days of Micropolis.
May 15, 2009 at 10:54 pm
he should just step down fully before singaporeans lose any remaining respect for him.
oh, by the way as the emperor, he decreeds what is long term, what is short term.
if he says 1 wk is long term, u also lan lan.