Saturday, May 16, 2009

CNBC Faber Report on Temasek

Here's the CNBC coverage of Temasek's BoA stock sale. The part about Temasek comes right at the end:
.
"...but this one guys is right up there as one of the worst investments during this period for a single investment fund..."- David Faber, Faber Report CNBC, 15 May 2009

"Singapore's acquisitive Temasek is up to its old tricks again, buying high selling low...." - Financial Times [Link]














41 comments:

Anonymous said...

So? PAP will still be in power what. Singapore will still be peaceful what. Foreign talent will still come here what. Casino will still be open what.

Anonymous said...

Shouldn't the date be 15 May, rather than 15 March.

Anonymous said...

haha!

This is saying it like it is - worst performance - bet you none of the main stream media in Singapore's gonna pick it up.

Bravo to Ho Ching - keerrrrr chinnnnng.

Rialce said...

Well done actually, cos the stock will get lower soon, at least got abt 1billion back. It takes sheer courage and judgement to sell the shXt.:p

Anonymous said...

"For people in government like me, having to deal with these sums of money which we have accumulated through the sweat of our brow over the last 40 years, you have to pay the market rate. And then you’ve got an incompetent man and you’ve lost money, by the billions. So get a sense of proportion."-- MM Lee Kuan Yew

Anonymous said...

More words of wisdom from the octogenarian:

"You know, the cure for all this talk is really a good dose of incompetent government.
You get that alternative and you'll never put Singapore together again: Humpty Dumpty cannot be put together again... and your asset values will disappear, your apartment will be worth a fraction of what it is, your jobs will be in peril, your security will be at risk and our women will become maids in other people's countries, foreign workers."

Anonymous said...

Looks like we're paying 'obscene' market rate for incompetent woman.

Hmmm, looks like our MM the sense of proportion is quite 'sound' !!

This is just one example... How about our 'Mas Selemat' DPM? another great example.

Anonymous said...

No wonder CPF is trying to con people to put in more money in the recent Mother's Day.

I'd love to see Temasek gets burnt even more in the emerging markets.

Onlooker said...

Bye bye CPF money....
It sad when someone hold a vast among of money without having to check with it's contributors before investing.
But hey they are living the high life while importing more "Cheap" for reign Talents who are "un Credible".

PAPers for More GoodYears (tire).

Anonymous said...

They too complacent liao. Outside of Singapore they are nothing. The world does not behave like Singaporeans who just bend over at their call.

Anonymous said...

the old man's big talk is now coming back to haunt him. Shameless one just keep quiet like nothing happen. lol

Parka said...

I wish Temasek would just go into venture capital and help local startups and entrepreneur. It's definitely more profitable in the long run.

They should stop investing in investments. Looking at balance sheets is just one way of looking at the company. You still have to look at the people running it and the economy.

aiyah said...

Pay scholars to lose all the money? You just need ppl with common sense to invest wisely.

min said...

hey, i thought they say it's a long term investment? And now they dump after <2ys? It's a ill-timed investment, everyone knows that. How embarassing for spore.

Anonymous said...

How much is 6 billion?
what can a 6-7 billions do?
If divided by 1 million people, everyone can get $7,000.
What a big sum.
Really confused. Just for a single txn!

Anonymous said...

LONG TERM INVESTMENTS

When Mrs Lee Hsien Loong and Mrs Lim Hwee Hua broke news of their paper loses at Temasek. They console themselves that their investments are LONG TERM.

They talk with their 1st mouth.

Now they ae talking with their 2nd mouth - their cunt!

Anonymous said...

Rialce (11:56am) said:
"Well done actually, cos the stock will get lower soon, at least got abt 1billion back. It takes sheer courage and judgement to sell the shXt.:p"

Hi, I'm not sure if you meant the above in a sarcastic way, but Temasek sold out at around the lowest point, just before the recent rally. Which is really as poor a timing as it gets.

And they are using part of the "proceeds" from the sale to buy stock in Chinese companies now. If you believe that now is just a global sucker's rally, it means Temasek will be buying near the height of a rally, aka buying high selling low again!

And these still do not address the question of why Temasek made such a risky investment in Merrill Lynch with taxpayers' money in the first place.

Anonymous said...

Everybody gets $7000?

- How about use this to pay the insurance for serving the fucking cheap SAF??!!

- How about use this to help the children of low income family members in universities?

FUCK THE PAP!

Anonymous said...

FUCK THE PAP!

one more time, FUCK THE PAP!

fuck them, FUCK !

Anonymous said...

http://business.asiaone.com/Business/News/My%2BMoney/Story/A1Story20090517-141930.html

Long-term investments again!!!

Anonymous said...

So what's the solution to all these problems?

May be the solution is always there but the people who are suppose to use it refuse to take it up.

I am talking about need for the opposition parties getting together to form an alliance, just like in any other working democracies.

It has been proven throughout history by these democracries - from US, to Japan, to Thailand, to Malaysia, to Taiwan, to India etc - that only through a united front or "facade" if you wish, would voters have confidence in voting from the opposition.

As to why our opposition parties refuse to do so, I will leave it to others to comment.

Anonymous said...

You think the old man and that HC who lost billions of our reserves care ?? They still get their million dollar salary, 8 month bonus and life long pension !!
And can't stand that they even have the cheek to give her a May Day award when she lost so much of our country's money !!! Suckers !!!

Anonymous said...

politician should probably never get involved in investment because their egos are big,and they have a strong belief to a cause regardless of the situations --this 2 qualities contradict with that of what takes to be a good investor -- small ego, able to admit wrong and u-turn at once, i.e. flexible.

Anonymous said...

Good politicians are not good investors?

Refreshing.

DanielXX said...

I will be grieved, totally grieved, if politics and our politicians are allowed to seep into decisions made by our local SWFs. There should be check and balance to make sure this, while inevitable, should be minimised.

Anonymous said...

Come on people, we all know she was hired for the simple fact that she has the courage to cut losses. Does not matter if she was the one who incurred the losses in the first place. Remember Micropolis, how she has proven her talent again. She deserves a medal.

Anonymous said...

To anon 10.40AM

Surely you mean backing and not courage?

Anonymous said...

To 10:40am,

I don't think she need to use any courage when she is never penalised for the poor performances at the organisations she has led. For all her past and present failures, she still get super salary, big bonus, million dollar pension and even May Day award ! She is still well rewarded no matter badly she performs, and isn't the reason obvious - she is related to the top men.

Anonymous said...

To 4:46pm,

One thought came into my mind when you say penalised Ho Ching. Maybe sending her to Cordon Bleu for some french cooking as she might fare better off cooking for the Lee family than squandering half their empire fortune away.

Anonymous said...

In conclusion: "Buy High Sell Low!"

Hahahaha, WTF Ho Jinx!

Anonymous said...

Don't complain. If u can't beat it, follow it. Temasek is selling BOA n buying CCB.When sgpeans haf spare cash, they spend it on holidays or buy car. How to get rich like tt? Haiz.

Anonymous said...

Anon 8:13 PM
politician should probably never get involved in investment because their egos are big,and they have a strong belief to a cause regardless of the situations --this 2 qualities contradict with that of what takes to be a good investor -- small ego, able to admit wrong and u-turn at once, i.e. flexible.


Agreed! HE shud not go round predicting the markets and oil prices becos it often ends up in the most embarrassing situations.

Macho politicians like to think they are futurists like Alvin Toffler becos of their altered egos, in reality they are just as clueless and blurred as you and i about the future state of things..

Anonymous said...

Anon 9:46pm:
"Don't complain. If u can't beat it, follow it. Temasek is selling BOA n buying CCB.When sgpeans haf spare cash, they spend it on holidays or buy car. How to get rich like tt? Haiz."

When singaporeans go on holidays or buy cars, at least they are spending their OWN cash, and they are stimulating our economy to boot.

Not so sure the same can be said of Temasek.

Anonymous said...

If a similar situation happened in Japan or China, the Heads of the Nation and the Investment Organization would have takened the neccessary actions to show repentance.

UNbelieveable but it happened, the State(SIN) awarded the CEO which is the Wife of the Prime Minister, Daughter-in-Law of the First SIN Prime Minister a National Day Gold Award. Of course, the Award was not for the Investment Losses incurred by Temasek.

The Huge Loss of State Money by Temasek headed by Ho Ching will remains as a big stain in the History of SIN.

patriot

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