Thursday, May 28, 2009

One Of The Worst Investments In This Period!

Was reading the following blog posting on Temasek and it's wall of fame or is it shame investment in Bank Of America. This is Becoming Hilarious - and Shameful!!

Love the two charts posted.

Some issues worth noting.

  • What else could you possibly deduce from the fact that Bank of America’s shares have surged 74% since our dear Ho Ching & company decided to divest of their BoA shares?

The blogger, : inspir3d, highlights a New York Times article which has some rather strong comments.

  • Regarding Temasek’s decision to sell BofA shares near the low - perhaps sovereign wealth fund managers are really just government bureaucrats masquerading as fund managers? If anyone is going to take a loss on an investment - I’m glad it’s them.
    — Posted by Jay Young
  • Temasek is run by Ho Ching, Lee Kuan Yew’s daughter in law. The GIC, which is the other Singapore Govt SWF is run by Lee Kuan Yew. His son is Prime Minister. No transparency, no accounts. Its a little traditional Chinese family business. Out of their league. They need professionals, and a new business model; not family members.
    — Posted by raoul hernandez

And of course CNBC's Faber Report caught wind of the happening and brands it "One of the worst investments in this period!"

( See also Temasek Admits To Their Terrible Investing Mistake In Bank Of America By Cutting Losses! )