Read that Temasek Holdings' investments slumped by more than S$40 billion in the crisis. On the other hand, my overall investment portfolio actually gained about 10% from start of Crisis in 2007 todate.
I'm smarter than Temasek Holdings? Cannot be right? But at least my investments did better.
Dennis Ng, http://www.MasterYourFinance.com
July 29 (Bloomberg) -- Temasek Holdings Pte, reeling from the aborted appointment of Charles “Chip” Goodyear, said the value of its assets slumped by more than S$40 billion ($27.7 billion) and that Singapore’s sovereign fund may allow public investment for the first time.
The company will seek “sophisticated co-investors” and won’t sell the “family jewels” for short-term gains, Chief Executive Officer Ho Ching, the wife of Singapore’s Prime Minister Lee Hsien Loong, said in a speech today in Singapore. Goodyear’s departure was “unfortunate” and Temasek will continue to review its succession plans, she added.
The appointment of Temasek’s first foreign CEO collapsed a week ago because of differences over strategy, raising concerns over transparency and management control after losses on Merrill Lynch & Co. and other financial investments dragged down its performance last year.