View Full Version : How Infamous Short-Seller Carson Block Can Take On The Singaporean Government And Win
http://www.businessinsider.com/how-carson-block-can-take-on-singapore-2012-12
Business Insider asked Carson Block if Muddy Waters was worried about the government's active involvement in Temasek's holdings.
"We are not concerned by the prospect of a continuing bailout of Olam," Block responded. "Such support would either add to a debt load that we believe is already fatal, or substantially dilute the shares. At the heart of Olam is a sick core business and substantial amounts of already squandered capital investment. We do not see Olam ever becoming a bailout success story."
Perhaps not, but that doesn't mean that the Lees won't start a war of attrition. Balding conjectured that Block may be able to win, however, if other hedge fund managers take up the short, find other Temasek companies to short, or start attacking the Singapore dollar.
"If you just look at these companies, if you look into their finances they're fine," said Balding, "but because a lot of this is on the public books it will be interesting to see if people go after the Singapore dollar... if there's a run its probably going to be on the currency."
Olam's bond offering is set to take place in early January. Until then, we'll be watching the Lees, the stock, and Temasek Holdings with much anticipation.
http://www.businessinsider.com/how-carson-block-can-take-on-singapore-2012-12
ikan bilis
23-12-12, 09:43
can ask that Muddy Waters to short down singapore property a bit ??... :rolleyes:
Carson block simply has no idea the way we do business here in asia. He thinks everything here done in black and white. There are wide range of grey areas in this part of world. He cannot understand how the individual company here make money, let alone how the gov make money. If things doesn't add up, doesn't means it is not true.
On 6 February 2009, Temasek Holdings announced his appointment as a board member and CEO-Designate, to commence on 1 March 2009, succeeding Ho Ching from 1 October 2009.[6] He was identified as a possible candidate for the top office in Temasek in 2007, when the Temasek board began reviewing internal and external CEO candidates since early 2005. Goodyear would have been the first foreigner to run the Singaporean sovereign fund company.[7]
On 21 July 2009, the Temasek board and Goodyear announced that they had mutually agreed that he would not be taking over as CEO, citing differences in opinions on strategy. Instead, Ho Ching continued in the position, while Goodyear stepped down on 15 August 2009.[8]
http://i.cnn.net/cnn/2003/BUSINESS/asia/02/23/aust.bhp.biz/story.chipgoodyearaap.jpg
http://en.wikipedia.org/wiki/Chip_Goodyear
aiyo...but you mean can support company with heavy debt meh?
aiyo...but you mean can support company with heavy debt meh?
In this day of age debt is not necessary sinful. If you can control certain resources with debt, it is not a bad things. You have to take certain risk to become a leader, not a follower.
got to ask Ho Ching or next time when I meet her husband when he visit France Detachment.
aiyo...but you mean can support company with heavy debt meh?
He came from a country with the biggest debt on mother earth. Should ask him to short USD.
In this day of age debt is not necessary sinful. If you can control certain resources with debt, it is not a bad things. You have to take certain risk to become a leader, not a follower.
nice post, mr indo. :D
:cheers5:
Simple, just drive down the borrow cost from 4% to 2.5% - which is coming its way on April 1, 2013.
The untended consequences:
1. The Currency will not be as powerful as before - like any money printing gov;
2. People will start to use their Special Account money to specular (when it is 4%, it is hard to beat. When it is 2.5%, many forumers will start to demonstrate they have the skills to beat);
3. Petition to allow Special Account Money to buy STI ETF!
Thanks,
Richard
Simple, just drive down the borrow cost from 4% to 2.5% - which is coming its way on April 1, 2013.
The untended consequences:
1. The Currency will not be as powerful as before - like any money printing gov;
2. People will start to use their Special Account money to specular (when it is 4%, it is hard to beat. When it is 2.5%, many forumers will start to demonstrate they have the skills to beat);
3. Petition to allow Special Account Money to buy STI ETF!
Thanks,
Richard
That would be the same time when the gov will introduce massive migration. Gov will not carry u anymore. Go and earn it yourself.
That would be the same time when the gov will introduce massive migration. Gov will not carry u anymore. Go and earn it yourself.singaporean migrate, you mean?
singaporean migrate, you mean?
think he means immigration. coming in...
phantom_opera
24-12-12, 09:34
http://calvy.files.wordpress.com/2011/02/dogbert-sachs-testimony-1.jpg
think he means immigration. coming in...
Sg from now on will only accept rich migrant. There is a shift in paradigm or way of thinking from process base economy to result base economy. Why we need to create wealth when we can just managing wealth instead. Instant wealth economy doesn't need factories, factory workers, or succumbed to demand cycle. Instant wealth means attracting money that is generated elsewhere around the world.
Sg from now on will only accept rich migrant. There is a shift in paradigm or way of thinking from process base economy to result base economy. Why we need to create wealth when we can just managing wealth instead. Instant wealth economy doesn't need factories, factory workers, or succumbed to demand cycle. Instant wealth means attracting money that is generated elsewhere around the world.
+1 :cheers5:
Sg from now on will only accept rich migrant. There is a shift in paradigm or way of thinking from process base economy to result base economy. Why we need to create wealth when we can just managing wealth instead. Instant wealth economy doesn't need factories, factory workers, or succumbed to demand cycle. Instant wealth means attracting money that is generated elsewhere around the world.
Factories move to iskandar, factory workers and middle mgmt commute daily to JB, leveraging their cheaper medical facilities and foods... Like shenzhen..
Tolls income increases for both government, less traffic in Singapore, etc. Moving these group of people to northern and western Singapore. Leaving more playground for the rich in city core.
Seems like a step closer towards Monaco of the east... Omg
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