atans1

SG50/ BKR50: Buffett on kia suism

In Uncategorized on 06/03/2015 at 5:13 am

Interesting that Warren Buffett has accidentally and unintentionally diagnosed what is holding S’poreans back.

“In the great majority of cases the lack of performance exceeding or even matching an unmanaged index in no way reflects lack of either intellectual capacity or integrity,” he wrote in 1965. “I think it is much more the product of: (1) group decisions — my perhaps jaundiced view is that it is close to impossible for outstanding investment management to come from a group of any size with all parties really participating in decisions; (2) a desire to conform to the policies and the portfolios of other large well-regarded organisations; (3) an institutional framework whereby average is ‘safe’ and the personal rewards for independent action are in no way commensurate with the general risk attached to such action; (4) an adherence to certain diversification practices which are irrational; and finally and importantly, (5) inertia.” (Latest annual report)

When the anti-PAP cybernuts rant against the PAP administration (including GIC and Temasek), they should remember one thing: the PAP administration and the cybernuts (and S’poreans in general) are all kia su.

This is what is holding us back.

If anything the cyberbuts are even more KS than most S’poreans. Most post anonymously. They would claim fear of the PAP administration. More likely they are pi seh to show how stupid and nutty they really are. They are not as brave as Roy, New Citizen H3 and Chia Yong Yong.

They may be extremely stupid but they are brave to parade their stupidity in public.

But let’s celebrate those who are brave and intelligent. People like Alex Au, Richard Wan, TRE’s techie Andrew, Affin Sha, Terry Xu, P Ravi, Siow Kum Hong, Baema and Martyn See. Though I do wish that Alex would stop wanting to take on the judiciary, and Martyn stop filing police reports.

 

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  1. Spot on dude. The brave and intelligent ones are those who are not exactly in a bad way. In fact most do well enough, but have the awareness and altruism to speak up on issues they see are not right. Intelligently of course.

    The other lot, the nuts as you call them, as I always say embrace the same material oriented kiasuism that the PAP system has long been associated with. They are products of this system, they embody this system, but for some reason or another they couldn’t get what they want, and this is what drives their ranting. But should they one day get what they want, they will be little different from the system they supposedly hate.

  2. […] – Guanyinmiao’s Musings: Advice On Advice – Thoughts of a Cynical Investor: SG50/ BKR50: Buffett on kia suism – Singapore Notes: Where There’s Smoke, There’s Fire – Likedatosocanmeh: […]

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