maurizio, buying a huge equity stake in a bluechip
company such as ML is not like trading shares in the
stock market, where you can enter and exit anytime you like.
When you talk about forex loses, are you aware that,
1) Most of Singapore reserves are still in US$
denomination,, hence it will not make a difference if they buy
ML at 1.38 or 1.45
2) In 2007, analyst at DBS; which is a GLC, has
already forecasted that US$ will hit as low as 1.38 in
2008, way before Temasek acquire ML. You mean those guys at Temasek
and GIC dont read newspaper?
3) Suppose if Temasek and GIC are so concern
about FOREX loses, I am sure it will not be difficult for
them to get MAS to devalue the S$ just to make their
investment look pretty isnt it?
What seperate a good investor from an average one is
his/her ability to identify opportunities when everyone else are
running for cover.
Not enter and exit any time we wish? Then? Lock in forever? Have
to seek Merrill Lynch's management approval to sell? 
A takeover is different from buying a 10% stake in the company,
for takeovers you need to seek approval from the relevant
authorities.
1) You mean if I have assets in the UK, but I denominate my
assets in US$ instead of GBP. Not possible? Even if I have US$
assets,
I forsee a depreciation in the US$ but not an appreciation
of my investment, I will behave like you and not switch investment
to another country.
Sit there, wait for the US$ to depreciate and watch my
investment go down the drain.
2) If you have investment analyst relying on another investment
analyst's report on the newspaper about the US$, the company will
surely make losses.
Moreover, the likelihood of US$ hitting a low of SG$1.30 to
SG$1.25 by end of the year is not unlikely.
The US dollar might even crash as people lose confidence in
using it as a medium for international trade, people are all
diverting their assets from US$
to Gold and Oil futures and options. That's why you see gold and
oil skyrocketing, if nothing is done to correct the US$ drop, I
won't be surprise if oil hits
a high of US$150 to US$200 per barrel by year end.
3) Having a dirty float and manipulating it is counter
productive. Why? You are directly promoting inflation in Singapore
and speculative attacks from
currency traders like George Soros.
Your explanation is equivalent to, fools rush in
where angels fear to tread.
Whether they have made good overseas investments, you can look
up the historical purchases of overseas companies.
Extremely good examples would be Global Crossing,
Optus, Shin Corp and Suzhou Industrial Project.
The only companies giving good profits are those Singapore
companies who have monopoly power.
I am retiring from explaining issues to you, you can continue
blabbing all you want,
you only have a one track mind, to promote and glorify the P4P
regime, you are
not adhering to logic and common sense. You will continue side
stepping issues
after I have given you an explanation, bring up new topics to
win at all cost.
