Recently, the chairman of The Government of Singapore Investment Corp told Bloomberg TV that GIC may invest in more banks in Europe and the United States if it gets the chance, adding to its already billion dollars stakes in bank UBS and Citigroup. The stakes in the 2 earlier mentioned banks have already eroded significant percentages off their initial values.
Personally, I am fine with GIC investing in banks for the loooooooong term. Below is an interesting blog entry on this issue. I am with the blog writer.
Lee Kuan Yew Ain't No Warren Buffett
http://utwt.blogspot.com/2008/04/lee-kuan-yew-aint-no-warren-buffett.html
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