Trace Temasek & GIC Public Equities Investment

Sometimes when I study the market timing skills of some so-called greatest investment funds, I am very surprised that they could fail so much even by their almightiness.
I will track some suckers that Temasek and GIC have made so far from public information. GIC helps manage Singaporeans’ CPF, and is very mysterious and demonstrable in long-term strategies of equity investment.
I hope my statement holds true for a long time because I contribute 20%+ of my monthly salary to CPF.
My purpose here is trying to learn from their mistakes.

这里讲的都是港股,这是我目前关注的焦点。

1. YASHILI: used to be very famous milk powder brand when I was young, but that’s 15 years ago. I don’t know how the management team produce their valuation, but obviously they didn’t choose to go to any big supermarket to access the publicity of this sinking brand. Now the young Chinese mostly know Mengniu, Yili, and Wahaha. You can just take the Mother, why you choose the fallen son?

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2. Daphne: used to be top brand in selling female shoes in Mainland China. If you visit their big shops in Shenzhen, there have less shoppers than others, and their price range are quite high.

News 1 (2013): 大市出現恐慌性拋售,開始吸引基金入場撈貨。新加坡政府投資(GIC)於6月20日以6.143元均價買60萬股達芙妮(210),持股量首度達到5.02%(8,373萬股)之須披露水平,以昨日收市價6.19元計,市值5.1億元。

News 2 (2013):  据联交所股权资料,达芙妮(00210)在10月31日,遭新加坡主权基金GIC场内减持67.2万股 ,每股平均4.065元,好仓由 5.03% 降至 4.99%。

What are you doing ? If you have such confidence to buy many, why don’t keep buying ?

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I am not sure the average cost of their 4.99% of total shares, but unless they bought them before 2006 or some where during 2008-2009 crisis, I have 90% confidence to say that this is a sucker.

3. China Southern Airlines Co Ltd: 1055. Once the famous saying is never buy airline shares. They look good in avenue but never profit much from the business. Operating margin is too low. Its profit holds tight too much with oil price, which is unpredictable. Some one in GIC just ignored this, and bought awesome amounts of 1055 recently.(wholly shit!!! Did they bet on oil price plunge ??? till Nov 28, this tick had 26% soaring. )

1055

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