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Temasek Sold All Bank Of America Shares As Of Marc
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freeme
Elite |
15-May-2009 19:55
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They are just like those finance advisors, always say, invest must be long term, in long run sure go up one.. so they are like that. If make right move, they will take credit, make wrong move, will say its long term investment. Now sell at lost means change of strategy... nv ending stories and dun expect them to admit their mistake.. or... scarli they predicted after a long rally, bac will correct soon, then can buy back cheaper? | ||
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fruitty
Senior |
15-May-2009 19:37
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Our national leaders said Temasek is an investor who goes long-term. Unlike traders, we don't take profit whenever there is but is in for the long haul. So contradicting. Don't know where they are leading us to.
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DnApeh
Master |
15-May-2009 19:29
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I think they still have not worked out what is the difference between investor and trader. Investors will be happier when prices drop as they can buy more. Traders cut loss. |
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fruitty
Senior |
15-May-2009 19:26
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Even if they have some insider news this time, their decisions to buy ML high and sell BAC low did not show me that they are able to manage the national wealth. Don't see why we are paying them more than peanuts but still get monkeys.
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niuyear
Supreme |
15-May-2009 17:54
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For info. Citibank is still selling those investment products by Merrill Lynch!!. I am very puzzled and wonder MAS knows about that? Temasek is a victim by investing billions in this company and Temasek should have taken note of that in order to prevent the 'Lehman Brothers' saga'.why didnt they put a stop to all the selling of such risky investment products run by high risk companies that may face acquisition or bankcruptcy? All the 'capital' invested by people, will not be able to recover back if these companies file for bankcruptcy. |
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Farmer
Master |
15-May-2009 17:41
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The "new strategy" Temasick may have pick up recently from Warren Buffet is call CUT LOST. Even WB sold his ConocoP shares when he realise that he could have bought it too high(when CO is at US$140), nevertheless, he admit his mistake to shareholders although he said its also to gain some tax incentives ie.tax write back. WHAT ABOUT OUR SWF? Why they sell even at such huge lost? Actually it's timing. I read that they buy more CCB shares just when BAC unloaded it. They may have overheard the sell out news beforehand and decided this way to avoid putting in more cash for risky asset. |
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E-war
Veteran |
15-May-2009 17:36
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I'm trying to refrain from using foul language. But wtf are they doing? Like playing with monopoly money. Hell, taxpayers' blood! Wat are the chances of BAC gg under at this juncture? Would Barack allow it? | ||
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cheongwee
Elite |
15-May-2009 17:22
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they make a mistake buying, now are they making a mistake by selling... why are they selling? that is more important...why?..no body sell to lose? Hi guy, maybe they know something which we dont... If BAC tomolo go under, then they dont appear stupid, they may look smart. I am interest to know WHY THEY ARE SELLIN???? |
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rabbitfoot
Veteran |
15-May-2009 17:12
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Aiyah...chow ome so fast sell at 7 when it is now 11. ehhh...somemore say Long term investor ..... | ||
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cheongwee
Elite |
15-May-2009 17:05
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and we believe they have the best guy heading then...they should have bought gold.. if they did, they will be the only SWF making $$$...it was reported all SWF lose money, nw they are more careful.. |
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nickyng
Supreme |
15-May-2009 17:04
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aya US$58b only....urge citizens to work harder and they can "earn" back from them wan mah :D
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cheongwee
Elite |
15-May-2009 17:01
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i forgoten..eith it was GIC or temasek lost 58b...that is $16100.. for each citizen..if population is 3.6 m.. they should have let us have the $..or put it in the stimulus...so 20+58...equal 78b..how nice . |
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shplayer
Elite |
15-May-2009 16:57
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2 points to your statement..... 1. Your are assuming Sporeans as Citizens and PR.......Govt always give population figures....which are citizens and PRs....last est was 4.2m. So, if you count only citizens....which I estimate at about 3.0 m, then each loss is about USD1,500. 2. The figure you quoted of S1000 should be US$....... This sucks even more eh? So much for Loong term investments.....pun not intended.
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nickyng
Supreme |
15-May-2009 16:55
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darn!! that means S$1000 GST credit lesser for me! :P
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Hulumas
Supreme |
15-May-2009 15:07
Yells: "INVEST but not TRADE please!" |
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That is the share market typical phenomenon, once, some one has sold in a huge amount, the price will responding upward instanteneously.
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cornsoup
Member |
15-May-2009 14:57
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So each Singaporean, on average, has lost ~$1000 of their hard-earned $$$? This sucks! | ||
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Farmer
Master |
15-May-2009 14:48
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Temasek Holdings realised a US$4.6 billion ($6.7 billion) loss on its investment in Merrill Lynch & Co. after selling its holding in Merrill's owner Bank of America Corp., The Wall Street Journal reported, citing people familiar with the matter, reported Bloomberg.
Temasek, Singapore’s state-owned investment company, sold its Bank of America stake at an average US$7 a share in tranches to multiple buyers, the report said.
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lm_clifford
Member |
15-May-2009 14:35
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Based on Reuters calculation which assumed an average price of US$8.67, temasek may have suffered a loss for abt US4.26Billion | ||
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nickyng
Supreme |
15-May-2009 14:20
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hmm...BAC(aka bank of america) share last traded at US$11.27 leh!! rumour speculating that Temasek unload at ard $6-$7 in March!! wow..that is $4-$5 less in their pocket leh !!! wow..... :D http://money.cnn.com/quote/quote.html?symb=BAC |
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niuyear
Supreme |
15-May-2009 12:45
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Merrill lynch is selling some of its investment service to UBS if bank of america withdraw the acquisition. I tot i saw some news like that? Lets wait and see which of these institutions could survive this storm..... |
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