Actually I missed it. My former boss sent me the full report and a friend emailed me the ST article which was printed from Bloomberg.
If Bill Gross is right, our two SWFs are sunk. How are they going to perform?
I just picked up MarketWatch as usual by serendipity some nuggets of wisdom from Warren Buffett. Quoting the Oracle,
“I think you can be quite sure that over the next ten years there are going to be a few years when the general market is plus 20% or 25%, a few when it is minus on the same order, and a majority when it is in between,” Buffett wrote. “I haven’t any notion as to the sequence in which these will occur, nor do I think it is of any great importance for the long-term investor.”
Well I am still afraid for Temasek and GIC but not at all for savvy small investors. It's bottom up time because top down is really hard.
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