Ladies and gentlemen,
Below are really the general behavior of top managers of investment companies around the world.
Statement 1: We bought XYZ (blue chip) shares because we are very confident of the company.
When XYZ shares falls, C.I.O shall say
Statement 2: It is long term investment.
When XYZ shares crash, C.I.O shall say
Statement 3: I did not expect it.
No one or very few has publicly admitted big investment mistakes and then step down.
Did they enter in with their eyes wide open? =)
Of course must know how to Tai Chi lah.......If not how to climb the way up & become CIO in the 1st place?
One word. LOL