Jim Rogers, a former partner of George Soros in the famed
Quantum Fund.
The fund manager, who has traveled extensively in emerging markets
and lives part of the year in Asia, says sovereign wealth funds in
Abu Dhabi and Singapore that recently made large investments in
Citigroup and UBS AG (UBS, news, msgs) are likely to lose a lot of money on their
ploys. "They're making a big mistake; these banks have many
more problems still ahead. They should wait until these
companies are really on the ropes a few years from now . . . and
trading at $5 a share."
But aren't they supposed to be the smart money? Maybe not.
"I know these people, and they have never
given me the impression that they're smarter than anyone
else," Rogers says. "They have gigantic amounts of money,
but they've made a bad judgment in these cases."
Source
http://articles.moneycentral.msn.com/Investing/SuperModels/StockMarketWinterIsMovingIn.aspx?page=1
Wheelock properties
purchased a 10 per cent stake in SC Global in June last
year at $6 per share, today it has fallen to $0.54. The
CEO apologised to his shareholders for making a
mistake. Thats some
accountability.
When Temasek purchased Barclays or
ABC learning, with one party state and PAP
controlled State Times , its a called "a long term
investment".No one can time the market, so theres no mistake.
Besides talented people do not make mistakes, its only because it
is impossible to time the market. Jim Rogers is an idiot to think
he can time the market
PAP would tell you these are long
term investments. Barclays PLC was a good purchase, Merril
lynch was a good purchase, ABC Learning was a good
purchase.
