If Tony Tan so smart in economics and finance...

[Viceroymenthol]

....then how come he did not see 2007/2008/2009 coming?

 

....then how come he invested big time into UBS and Citigroup, only to see their stock prices laosai, and then divest their stake at much lower prices, making Singapore a global laughing stock?

 

Being a lesser mortal, i am not supposed to understand how these top GIC brains worked as i do not have an advanced degree from MIT.

 

But i only want to understand how Tony Tan can make such mistakes. If Tony can convince me and others who are wondering the same thing, he has got our vote to "safeguard" our reserves.

[Beehive3783]

Erm, because he is only a small fry in the global economy sector and there's no way a small fry like him can predict sh1t hitting the fan unless he's one of the big big players in the global economy?

[Joseph22]

Erm, because he is only a small fry in the global economy sector and there's no way a small fry like him can predict sh1t hitting the fan unless he's one of the big big players in the global economy?

 

Or there could be political implication in it?? most forget we are just one red dot.

[Yewheng]

Erm, because he is only a small fry in the global economy sector and there's no way a small fry like him can predict sh1t hitting the fan unless he's one of the big big players in the global economy?

 

[laugh] [laugh]

Very funny.. way before 2008 crisis Peter Schiff already predicted that crisis will happen.. and it happen.. ( This is call good in economics and finance ).. TT ??? He is just merely follow the flow.. the flow go down, investment also goes down.. he does not have the capability to see far like Peter Schiff.

Edited August 21, 2011 by Yewheng

[Kelpie]

....then how come he did not see 2007/2008/2009 coming?

 

....then how come he invested big time into UBS and Citigroup, only to see their stock prices laosai, and then divest their stake at much lower prices, making Singapore a global laughing stock?

 

Being a lesser mortal, i am not supposed to understand how these top GIC brains worked as i do not have an advanced degree from MIT.

 

But i only want to understand how Tony Tan can make such mistakes. If Tony can convince me and others who are wondering the same thing, he has got our vote to "safeguard" our reserves.

 

We do know it is quick to blame on problems and being forgetful on past performance and these highly paid people are even put under greater scrutiny by the public in case of a hiccup.

 

The issue here is "transparency". Even the late OTC also had a hard time seemingly trying to put thing right, at least he tired. With a YES man around, your question will probably remain unanswered.

 

On the candid side, perhaps, our under-performed brains will not be able to understand the truth .

 

Regards,

[1fast1]

....then how come he did not see 2007/2008/2009 coming?

 

....then how come he invested big time into UBS and Citigroup, only to see their stock prices laosai, and then divest their stake at much lower prices, making Singapore a global laughing stock?

 

Being a lesser mortal, i am not supposed to understand how these top GIC brains worked as i do not have an advanced degree from MIT.

 

But i only want to understand how Tony Tan can make such mistakes. If Tony can convince me and others who are wondering the same thing, he has got our vote to "safeguard" our reserves.

 

He probably got scolded, "Uncle, don't tell my wife what to do, okaaayyyyyy?!"

[Tonyng]

This one is simple.

 

Because it is NOT his own money.

[Tedlhw]

....then how come he did not see 2007/2008/2009 coming?

 

....then how come he invested big time into UBS and Citigroup, only to see their stock prices laosai, and then divest their stake at much lower prices, making Singapore a global laughing stock?

 

Being a lesser mortal, i am not supposed to understand how these top GIC brains worked as i do not have an advanced degree from MIT.

 

But i only want to understand how Tony Tan can make such mistakes. If Tony can convince me and others who are wondering the same thing, he has got our vote to "safeguard" our reserves.

 

Actually, if he's as good as he says, we need him at GIC more.

Not as president. He should go back to GIC and make Singapore rich.

[Latio2005A]

Actually, if he's as good as he says, we need him at GIC more.

Not as president. He should go back to GIC and make Singapore rich.

I think he cN contribute more significantly in GIC. AGree with you.

[Funner]

....then how come he did not see 2007/2008/2009 coming?

 

....then how come he invested big time into UBS and Citigroup, only to see their stock prices laosai, and then divest their stake at much lower prices, making Singapore a global laughing stock?

 

Being a lesser mortal, i am not supposed to understand how these top GIC brains worked as i do not have an advanced degree from MIT.

 

But i only want to understand how Tony Tan can make such mistakes. If Tony can convince me and others who are wondering the same thing, he has got our vote to "safeguard" our reserves.

 

 

hey you think tony stupid of what

 

he is smart at loosing money what

you get your facts right ok

 

 

if not next time kena hantam i dont know

dont pray pray ok

[Damienic]

Actually, if he's as good as he says, we need him at GIC more.

Not as president. He should go back to GIC and make Singapore rich.

 

Its obvious that his decision to leave the GIC post is more to it than meets the eye..

[Galantspeedz]

Erm.... Cuz he is not god?

 

 

[Yuan]

[laugh] [laugh]

Very funny.. way before 2008 crisis Peter Schiff already predicted that crisis will happen.. and it happen.. ( This is call good in economics and finance ).. TT ??? He is just merely follow the flow.. the flow go down, investment also goes down.. he does not have the capability to see far like Peter Schiff.

 

You can read more with what Gerald Celente had written.

 

This guy too is no joke and no sweet potato.

[Yuan]

Erm, because he is only a small fry in the global economy sector and there's no way a small fry like him can predict sh1t hitting the fan unless he's one of the big big players in the global economy?

 

Yes. You could be right.

Edited August 21, 2011 by Yuan

[Jim]

Remember Alan Greenspan said the stock market was "irrationally exuberant"? You know which year he said that? 1998.

 

If you take his advice seriously and started selling in 1998, you will look like a complete idiot by 2000. In fact, I remember many articles mocking Warren Buffett in 2000. Meanwhile, "perma-bulls" like Abby Cohen who keeps saying "Buy buy buy!" was looking like a genius. Then the bubble burst, and as Warren Buffett would put it, when the water recedes, we will know who is swimming naked.

 

Someone else also said this: "The market can stay irrational longer than you can stay solvent."

 

Remember China Aviation Oil? The last time oil price went above $100, they bet oil price will come down. Eventually it did, but not before hitting the highs of $140 and bankrupted CAO. Given enough time the bet would be hugely profitable, but they didnt have the money to hold the position and was forced to liquidate well before oil price crash to below $70.

 

There are a lot of problems with the world economy that are "obvious", but you still cant make money betting it. One example is the Singapore housing market. It is obviously in a bubble, but dont even try to bet when it will burst. It may burst now, and not in another ten years. But if somebody keeps yelling Singapore housing market is going to crash, sooner or later, he will be right, as long as he is not stupid enough to give a specific timeframe.

 

So this is why you take what people like Peter Schiff says with a pinch of salt. He predicted plenty of problems in the US, but he didnt predict that Europe and Japan will be in trouble too. His fund is called Euro-Pacific Capital because he primarily invests in Europe and Asia.

 

Is US in a lot of trouble? Sure. But is it MORE trouble than Europe or Japan or even China? I dont know.

 

Also, you have to look at context. Just before the financial crisis, there was a big hooha over Dubai Ports buying the US ports from... was it Maersk? I think either PSA or NOL was intending to buy it, but Dubai had deeper pockets. The resulting media circus was played to the tune of US Ports being sold to terrorists. Had it been Singapore, it would probably get the same backlash.

 

In other words, it is politically difficult to buy into strategic US assets. Then came the financial crisis, and the window opened. Finally Singapore can come in and buy into prime US banks without political backlash, so the guys in GIC and Temasek just cannot wait any more.

 

If the US government bailed out Lehman, the crisis may have ended before Citi hit $1.

 

If you take a look at how Citi invests in Singapore, then the lost money may not be all that bad. It's just a shame Citi hires mostly foreigners.

 

So, is it fair to say that TT is a failure in finance because he failed to predict the financial crisis? I dont think so.

 

But that said, I dont see how he is of any help being the President. The President is not supposed to meddle with the day to day decisions of either GIC or Temasek.

 

If I am LHL, I will be very worried to share the Istana with TT. After all, it was so hard trying to get rid of GCT, the last thing he wants is another big figure from yesteryears breathing down his neck.

[Yewheng]

Remember Alan Greenspan said the stock market was "irrationally exuberant"? You know which year he said that? 1998.

 

If you take his advice seriously and started selling in 1998, you will look like a complete idiot by 2000. In fact, I remember many articles mocking Warren Buffett in 2000. Meanwhile, "perma-bulls" like Abby Cohen who keeps saying "Buy buy buy!" was looking like a genius. Then the bubble burst, and as Warren Buffett would put it, when the water recedes, we will know who is swimming naked.

 

Someone else also said this: "The market can stay irrational longer than you can stay solvent."

 

Remember China Aviation Oil? The last time oil price went above $100, they bet oil price will come down. Eventually it did, but not before hitting the highs of $140 and bankrupted CAO. Given enough time the bet would be hugely profitable, but they didnt have the money to hold the position and was forced to liquidate well before oil price crash to below $70.

 

There are a lot of problems with the world economy that are "obvious", but you still cant make money betting it. One example is the Singapore housing market. It is obviously in a bubble, but dont even try to bet when it will burst. It may burst now, and not in another ten years. But if somebody keeps yelling Singapore housing market is going to crash, sooner or later, he will be right, as long as he is not stupid enough to give a specific timeframe.

 

So this is why you take what people like Peter Schiff says with a pinch of salt. He predicted plenty of problems in the US, but he didnt predict that Europe and Japan will be in trouble too. His fund is called Euro-Pacific Capital because he primarily invests in Europe and Asia.

 

Is US in a lot of trouble? Sure. But is it MORE trouble than Europe or Japan or even China? I dont know.

 

Also, you have to look at context. Just before the financial crisis, there was a big hooha over Dubai Ports buying the US ports from... was it Maersk? I think either PSA or NOL was intending to buy it, but Dubai had deeper pockets. The resulting media circus was played to the tune of US Ports being sold to terrorists. Had it been Singapore, it would probably get the same backlash.

 

In other words, it is politically difficult to buy into strategic US assets. Then came the financial crisis, and the window opened. Finally Singapore can come in and buy into prime US banks without political backlash, so the guys in GIC and Temasek just cannot wait any more.

 

If the US government bailed out Lehman, the crisis may have ended before Citi hit $1.

 

If you take a look at how Citi invests in Singapore, then the lost money may not be all that bad. It's just a shame Citi hires mostly foreigners.

 

So, is it fair to say that TT is a failure in finance because he failed to predict the financial crisis? I dont think so.

 

But that said, I dont see how he is of any help being the President. The President is not supposed to meddle with the day to day decisions of either GIC or Temasek.

 

If I am LHL, I will be very worried to share the Istana with TT. After all, it was so hard trying to get rid of GCT, the last thing he wants is another big figure from yesteryears breathing down his neck.

 

Thanks.. [thumbsup]

But I don't understand why you say LHL trying hard to get rid GCT...

 

[Joseph22]

Thanks.. [thumbsup]

But I don't understand why you say LHL trying hard to get rid GCT...

 

TPL..

 

 

GY is from GCT erra.. so he get ride of him first.

[Yewheng]

TPL..

 

 

GY is from GCT erra.. so he get ride of him first.

 

oh I see.. thanks.. but I feel that is just all rumors.. as if PM want that to happen.. [laugh]

Sometimes things are just beyond control.. and the new era of internet.. which actually help expose a lot facts but also a lot of untruth..

anyway back to topic..