No not our local MSM admitting that Temasek and GIC goofed badly. Remember the media orgasms when the chumps (sorry champs) bot into Merrill Lynch, UBS and Citi?
Several of the investors that spotted early the opportunities the subprime market offered, then started buying US banks early last year when Temasek was selling BOA and Barclays, now are looking fallible.
If I were carrying an ad for GIC and Temasek (I’m not, but wish I were) it would be, “The line between success and failure is very thin.”
Seriously, a top banking analyst believes that US banks are cheap. So these investors may be right three times in a row.