Dear Papsmearer;
"I see, so just because u met George Yeo a few times, and he appears to be a nice chap, and that means he is not an asshole? Yet more of your idiotic logic. people say Hitler was a very personable person too."
Judge a man by his deeds
Hitler's deeds are clear to all and sundry
So what had Georgie done to deserve the label of asshole?
So far I've been very civil to you, so watch your IDIOTIC tone
"U know who said these words? George Yeo, while visiting Myanmar."
Georgie was repeating a comment published in the press many times already
I forgot who made the original statement many moons ago
you google it if you're interested
"Apparently, this ASSHOLE thinks that military junta rule is ok in Burma. This is his personal comments, and not from any PAP affiliation. Unless, he was told by his boss to say those words."
He is a PAP minister!
Did you seriously expect him to say anything else?
That's Singapore's stance on Burma which many of us here obviously disagree with
There are many people who take the view that Aung San should compromise and share power with the junta. It is a point of view that they are entitled to express
I don't label people ASSHOLES just because they disagree with my views
"Well, if George Yeo is not an asshole, and different from the rest of the PAP assholes, than he should just come out and say what his salary is."
George is the Foreign Minister (last I checked) not the PM nor chief honcho of the PAP. Do you think he has the authority to disclose that information. The instructions have come from the top ie. no one discloses this info
"This guy has been a leech on the public teat for decades......... but because he is on the PAP treadmill to political office. Every single dollar he has made, every single benefit he has received has been taxpayer paid. Simply put, he is an asshole."
So every senior civil servant is an asshole???
DUH?
"Now, is it reasonable to believe that GIC did any better than its contemporaries and lost only $50 billion SGD? That's 9% of a 550 billion pot, a far better performance than every single one of the SWFs! C'mon, it's utter bollocks and they know it."
I had a long discussion about this issue
here is the thread
http://singsupplies.com/showthread.php?t=17938&page=5
Feel free to peruse at your leisure
My estimate at the time was a 20-25% loss for 2008. Since then, LKY revealed that the portfolio was down 25% from it's peak (achieved in 2007). That puts them within my expectations. I find the 100 billion loss doubtful because it implies a total portfolio size which I find to be an excessive estimate.
by the way, I read the SDP referenced paper as well. It doesn't shed any light on the actual GIC portfolio. The authors readily admit to making guesstimates.
"Closer to the truth would be a figure somewhere between 30% and the 41% ejaculated by a flustered Lim Hwee Hua, Senior Minister for Finance, in Parliament when questioned by Sylvia Lim."
Well maybe it is
Based on the way they operated, my guess was 25% down
we don't know because they're not transparent
and I think we're all OFFENDED BY THAT
"Let's do some simple arithmetic, folks. At 30%, GIC has blown $165 billion SGD; at 41% it is in the hole for a staggering $225 billion SGD! Long term investment? They'll have to wait till the cows come home to recover that size of investment loss."
How do you know what the actual portfolio was at the start of 2008?
BTW they have recovered a very large chunk of that loss (if you're following the mkt) It took all of 2 quarters.
