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.

Myth 205

'Singaporeans like to have the Govt as the nanny.' Ong Keng Yong I will just say this is bull. Singaporeans disliked being nannied. The nannying was shafted down the throats of Singaporeans with all kinds of compulsion, for the good of the Singaporeans. That was the govt's excuse all the time. And then blame it on the people for being nannied.

$300k for a place in SAS

An individual needs to donate $200k to the Singapore American School to book a place for a child. A corporation will need to cough out $300k for the same place. This is above the $10k to $20k school fees. The demand for a place in the SAS is so high that this is the market price for the time being. As a commercial enterprise, this is a happy thing. The amount to donate can keep going up as long as people are willing to pay for it. The question is who ultimately pays for it? Shall such a market driven logic be applied to state services like housing, medical, education and the rest of the essential services provided by the govt, including monopolistic services like public transport? One thing for sure when this kind of mindset is deemed acceptable, a lot of profit. Who pays?

A tale of talent versus good fortune

Which is more powerful, more successful, and more real? With talent one can do anything. With good fortune, one does not need much talent to achieve more. Without good fortune, no amount of talent is going help and make one successful. True or false? Anyone out there willing to say that talent is the one that counts? The recent events have proven one thing. With talent one may be in a position to do big things. One can achieve a lot but also lose a lot. For losing, it is not the fault of the talent, but lack of good fortune. Blame it on providence when luck runs out. Without good fortune, we can see talents looking rather like misfits. Without good fortune, and when time is running out, or the wind has changed direction, talent or no talent, all will be found wanting. In such times, the latter will expose themselves immediately. And the more they hide behind the veil of talent, the more ridiculous they will look. I am sure many of the talents are having self doubts now and would wish that the balloon wasn’t so big. And there will still be some who sincerely believe the balloon is not big enough, and the talent tag is for real. The balloon will not blow up in their faces. Given such a scenario, maybe a better fall back position is to discard the talent brand and hide behind the supernatural, ascend to the next dimension of immortals and demigods. In such a state, what one only needs a little belief and a lot of trust. Would we be hearing anymore of this thing called talent or super talents? Or would one hear a sigh of relief and thanking god for their good fortune. But fortune comes and goes in cycles, like the tide, sometimes high and sometimes low.

I can't tell

I can't tell. What does this mean? It simply means that I have something to hide. But why can't tell me? Because it is not to your advantage. Because I am taking you on a ride. The costing and pricing of HDB prices cannot be a state secret that can't see the light of the day. Please tell us how the cost is derived and how much profit is made from the new policy of marking to market pricing. Can't tell, don't want to tell, cannot be the excuse. Like it or not, the truth will be out one day. The truth cannot be hidden forever in a democracy. It is better to tell now than for it to be told by someone else in a different way later. Please tell.