Originally posted by anonymouscoward:
Come on... this is just another U-turn on the policies thought out by out ultra-smart, ultra-high pay ministers.
When they opened up the CPF for investment, they forgot the fact that not many citizens are financially savvy. The idea started off as a good one to increase the CPF savings but too bad, it wasn't well thought off.
A reflection of how out of touch our ministers are.
When the idea was first introduced, my friends and I in the financial market already fret at the thought of many aunties and uncles rushing into the market without a single clue on what they should or should not buy.
It's just like when the stocks are doing well and people are buying for the sake of buying... only to be the biggest losers of all.
The best of the breed my ass... like what MM Lee said, they are well qualified, just that they are not tested... simply put; these people are smart people with zero field experience. Particularly the type you'll avoid following into battles.
Oh yea, I remember those days (1994) when GCT keep encourage people to invest in the stockmarket before the Singtel IPO. While we in the market has this joke of buy shares and share your wealth away. Incidentally SIngtel IPO price at 2.00/2.50 opened between 3.00 with the high of 4.00 with Japanese buying (Nomura) before plunging to the low of 1.35 years later. It took us 12 years later before we actually see it trading at above 3.00 later. This is still the better part of the story. Imagine those poor souls holding the dread CLOB shares til todays ?
I agreed with you, these best of the breed are craps in the markets. Jolly good gosh, I locked part of my extra funds in a bonds funds yielding 2.5% above CPF 4% rates since 1995.