APEC 2024 Peru. Biden shafted to a corner in the back row. Xi in front row next to Peru's President
9/29/2010
In good men we trust
The GIC said its investment strategy has paid off, 'and it has significantly recouped most of the losses incurred during the global financial crisis.' Its annual report said that the 20 year nominal average rate of return pa of investment was 7.1% for the preceding 12 months ending March. This is better by 1.4% over the previous year. Real rate of return rose from 2.6% to 3.8%.
How much do these numbers mean? How big is the portfolio, how much profit or was there any profit, assuming a positive rate of return means there is profit?
Never mind, the money is in good hands and there is an official annual report. Good enough. And the report said everything is doing just fine.
We trust the good men handling the good money, and plenty of money in any measures.
The GIC prtfolio is huge.
ReplyDeleteThey say they did alright. Well, without independently audited public figures, one has to be retain a little skepticism about this claim.
Also, so what if they "made money". Big deal. Markets and global finance is so uncertain now even smart people can lose money.
It is all to easy to atribute their "profit" to "intelligent decisions". There is no end to the lengths humans will go to deceive themselves and others. It could be sheer fluke/ luck that the GIC "made money", and they did so by the skin of their teeth.
What happens if/ when they do LOSE money?
What does that mean? And who is going to pay?
If they lose money, it is attributed to the global financial situation and beyond their control.
ReplyDeleteIf they make money, it is due to their good judgement and expertise.
How can one argue with that?