Updates

"Ability is nothing without opportunity" - Napoleon Bonaparte

Skills, Knowledge, abilities and experiences are only useful if you are at the right place!

Finance Minister Tharman Shanmugaratnam defended the overall track record of Temasek Holdings, which grew S$56 billion from March 2003 to November last year even after taking recent sharp declines into account.

Temasek had made "large investment gains" of S$114 billion over the preceding five years. I am really curious how they have done it. With good government connections and huge resources available to them, they have the privilege to cherry pick the best local companies to invest in at a discounted price.

It would be interesting to know how much Temasek actually gained from their overseas investments till now, because the huge losses we know are mostly from overseas. That will be a good way of evaluating Temasek's performance where the playing field is slightly level.

I have spoken to Robert about my decision to close account 1 since he has not traded for quite some time. It has been stressful for him and he felt sorry about it. There is no hard feeling, just sound business decision, Robert is still among the most respected trader I know. He is just not ready now, I still look forward to working with him in the future.

I will be transferring the balance into account 2 by end of next week. My strategy for account 2 is basically taking up hedging position in the Topix/Nikkei contract which I am very comfortable with. I hope to build up some foreign capital before going into some outright position trading.

Profit to date is S$7,731.00 and have long 3 Topix/Nikkei spread position.