Mr Charles Kernot, a London-based mining analyst told Bloomberg: 'It may be that he went in with the understanding he would be able to develop a direct equity investment portfolio across the mining and oil and gas space. 'With all the market volatility and uncertainty among commodity producers, it may be the Singaporeans were not so sure of that strategy.'
I'm not sure if Mr. Kernot is referring to the leadership when he writes "the Singaporeans" ... because Singaporeans in general has no say ... absolutely zero, zilch, nadda ... in how Temasek is run or its strategy. We cannot even say "We're not really sure we like the direction Temasek is taking." because doing so gets us a "Mind your own business" response. In any case, if Mr. Kernot is indeed referring to the leadership, I'm offended too ... it's "our" money. How the Singapore leadership feels about things does not necessarily square up with how Singaporeans feel about things, so he should have made that distinction clear.
Meanwhile ... a thought just occurred to me ... even if Temasek does make ooodles and tons of money from its investments, how do Singaporeans know if the profits even go back into making our lives better? Where do the profits go? Back into making more money? Into our reserves? And if the money never makes it back into society, then what's the point of screaming about the losses in the first place? It is not as if we're gonna see any benefits from the profits!