Thursday, May 01, 2008

MM Lee Wisdom of the Ages...

If you want to know why investing in troubled banks is a good idea, why transparency isn't necessarily a good idea and why Warren Buffett isn't farsighted enough, I strongly suggest you watch this Bloomberg interview of MM Lee.
video
I'm going out for the whole day but will be back to explain to you why MM Lee's profound thoughts is not so easy for ordinary Singaporeans to understand and appreciate.

10 comments:

Anonymous said...

shit - it scares the hell out of me. By making this humongous mistake - we are 'locked' in for the next 7-10 years before citi bank and ubs shares goes up to its purchase price. So we will 'account' to the people only 10 year later if we made any profit from this deal.

Yes, it sound much like the mas selamat type of accountability to the citizens.

PS - if an insider of citibank buys the shares and the price goes up and he profits - that is called insider trading.

PS - if the insider buys the shares and it tanks - what do we call that? a laughing stork?

Anonymous said...

His mastery of spoken English cannot hide how irrational that guy is. He said those troubled that PAP invested in had "GOOD MANAGEMENT".

When he asked "Will those banks PAP invested in always be down, is their management that bad", he looked upwards wide-mouthed in a dumb daze ... until the interviewer saved the day for him.

Why did LKY go for that interview? It just goes to confirm what a rot is going on inside PAP. It is being run by senile people like him who are yet in control of hundred of billions of taxpayers' money that no one really know whether there are still in existence.

Like that old guy said there is no need for transparency on such a matter otherwise people might clamour for more govt spending.

Sure, that's only provided PAP is making profits instead of losses. I happen to think otherwise given all the cover-ups.

Anonymous said...

that is my concern -

with LKY at GIC
Ho Ching at Temasek -

who is auditing these operations?

Not the Govt - as mentioned by Tharman - as they are private holdings.

Who can tell the old man - hey, this is not the right investment.

Who? God?

Anonymous said...

The rot sets in when they think they can do whatever they like, roll over anybody who stands in their way, and ignoring anybody whose views differ from theirs. Not to worry, Heaven has eyes. Remember Saddam, Marcos, Suharto, Thaksin and the Gang of Four in China.

Anonymous said...

..i doubt it...WE doubt it
(Phew lucky he changed to "WE")

Yup...the "nobody knows..." scares the hell of me too

Onlooker said...

One Quote" Fools rush in where Angel fear to thread"
Goodbye CPF,Acountability,worthy FT(warren buffet),
Hello Senile.....

Anonymous said...

hi, still waiting for your explanation. Thanks.

InSpir3d said...

Lucky how do u get this video.
can i have it too

Anonymous said...

Look guys, if LKY is so easily fathom then he is not LKY. Get a hold of meaning of what is long term investment. If you are in the financial planning or analysis field, you may be in the same frequency and frame of thought. If you are looking for a quick return, option is the way to go "you either float or you sink" very quickly.

Anonymous said...

so is it 20 or 30 years for the investment horizon? seems like there weren't a defined time frame at the onset even to-date.