Singapore's sovereign wealth fund regrets investment in crypto-villain FTX Singapore's sovereign wealth fund, Temasek, has taken the unusual step of announcing its disappointment with a particular investment, and punishing those responsible for it. Temasek is one of the world's biggest investors, and manages a portfolio valued at around $300 billion. The company has invested in plenty of tech …
heres yet another example of leadership being rewarded even after making a mistake.
Reminds me of the pathetic worship of royalty both today and in the past. Using the British Royal family as an example its pathetic how many honours they are given for doing absolutelu nothing to contrbute to that field, or how they think they are worthy of having not one but dozens of hospitals named after them and of course they arent happy with one palace, they have dozens not to mention country estates and more.
They are never wrong of course everything they do is perfect. THey are never penalised for any wrong doing, just look at Harry's book, he admits they benefited from slavery and yet nobody criticizes him for taking this blood money.
Just like our leadership in singapore, scum of he earth investing in what can only best be described as bullshit and yet they still get millions.
Take a look through the guy's post history. Most of his stuff is like this - grabbing a point that is at best tangentially related to the subject matter and going off on a rant about it. The most interesting one in his recent history was him declaring that if people have to refill their car they waste too much time driving, they should bike or walk instead (which would naturally take longer by virtue of being slower), and that if anyone needs to travel more than 500km then something is wrong with them.
It's a laugh a minute.
Most sensible investors try to understand them before deciding to invest in them. Piling money in without thinking and then saying "turns out this was worthless crap" once you've lost it is about as wise as thinking that there is such a thing as "lucky numbers".
Incidentally, there are 18,181,818 new shares available in my new AI crypto-metaverse company if you're interested, only $20 each.
I like Warren Buffet's definition of 'producing assets'. If a company doesn't make anything or provide a service, how can giving them money be called an investment? It's just a group that's come up with the idea that they can have an intangible thing they advertise as only being available in limited quantities so it has scarcity value. With enough reuse of words that people think they know what the definitions are and a bevy of celebrities that all seem to be excited about it, it's vast sums of that 'fiat' currency for the founders and no chairs left when the music stops for the rest of the 'investors'.
I have just seen it as having no value for me. I'm not buying contraband so I have little need to anonymize my transactions beyond paying cash for things. If in the future it does turn out that I acquire a taste for contraband (defined as things the government doesn't want me to have), cash is still better as there isn't a 'blockchain' keeping a record that can be used against me.
The Register 
Biting the hand that feeds IT
Copyright. All rights reserved © 1998–2024
