“Bailing out on Barclay’s with massive losses, Temasek forgets to tell Singapore’s citizens about it.
Temasek Holdings, still headed until October by Ho Ching, wife of Prime Minister Lee Hsien Loong, has bailed out at a loss estimated at around US$850 million. The Temasek debacle followed hard on the heels of massive losses on a Bank of America stake mostly acquired near the top of the market and sold close to the bottom. Temasek’s loss is estimated at US$4.6 billion, or roughly US$1,000 for every Singaporean citizen. After the sale, presumably in March, the share price promptly rose by 66 percent.”
I don’t claim to invest better than Temasek does, but I just -love- taking pokes at our beloved government: At least be nice enough to TELL us when you’re mismanaging our money, oh Powerful All-Knowing Ones.