The following clip was posted last April 2008. It features Lee Kuan Yew who talks about Singapore sovereign wealth fund.
Should they have been more conservative?
LKY: "The franchise of the banks, the expertise that they have, under proper leadership, they will be able to recover and rise again ... Will there be another Swiss bank like UBS for wealth management? I doubt it, we doubt it, that is why we invested in it." Citigroup, he added, had an enormous spread worldwide as a retail bank".
LOL!
Another Swiss bank like UBS?
Will there be a UBS? And what about Citigroup?
Everyone wanted to be a 'Warren Buffett'.
*whistle*
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