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2/11/2009

31% and not 40%

My earlier post quoted Tharman's figure of 40% loss which was 2% better than the market's fall of 42%. Yesterday Lim Hwee Hua quoted 31% which was much better than the earlier number. The exact number is a loss of $58b. We have outperformed the market. Fund managers have been using this as a yardstick to measure their performance. Now that they have outperformed the market, would they be asking for a bigger bonus? In the same report in Today, it quoted the Kuwaiti sovereign fund losing US$31b out of a US$300b fund. Now that is just about 10% loss. Remarkable performance. We should recruit some of their fund managers and we could do much better next round. Just wondering if the Kuwaiti fund managers were local or foreign talents.

10 comments:

rookielim said...

I thought we hire the best of the best talents and paying them top dollars? It is like sending our kids to a top international school after spending 200k each to get them in. Our kids ended up only getting slightly better than average results. The principal of the international school resigns and the school can still shamelessly tell us that our kids are actually better off compared with most of the other kids in the neighborhood schools. On hindsight, we should have sent our kids to the neighborhood schools and save all the obscene sums of monies paid to the school...

redbean said...

hi rookielim, welcome to the blog.

i think we didn't pay enough and did not get the best. the best were in lehman, merrill lynch, citibank, goldman sach and all the big names in new york.

we should be grateful having only the third or fourth rate talents. can't imagine how much we will lose if we engage the best. maybe we shall now look forward for more good years.

Anonymous said...

Anything bad always look better when you compare with something worse.

Lost Citizen

Anonymous said...

On 10 Feb 2009,Minister Lim used a cut off date of 30 Nov 2008,the trouble is that the market did not go up since then,but moved further south.

The mistake was to punt much too much into stock market.The rest are not so relevant

redbean said...

where got mistake? i never read such a word in the old media.

Anonymous said...

Redbean
why do you need to apologise for wrong figure ?
If Tharman sue you, just tell him the figure "is not updated yet".
Tharman can't sue you because you are using his proven and immunity method.

redbean said...

i believe in giving credit to the professionals for printing the numbers. they must have verified them to be correct.

don't try to guess the details. just take them at good faith. have trust.

Anonymous said...

Can't post anything here,

cos I am not sure of my facts.

Got to wait for them before I
get them wrong. Sorry before I say the wrong........


I am very sorry!

patriot

redbean said...

yeah, must respect the professionals.

Anonymous said...

Nope!

Not, if the professional is a con.....or a professional that gave wrong infors and bullshits.

No, also if they act not to be themselves......

patriot