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04-10-2012, 09:02 AM
The professor's post, starting from the headline itself, comes across as rather sensationalist.
He may be no idiot but I don't believe Temasek is staffed with idiots either. No one puts self-incriminating figures in a publicly available document where any Tom, Dick or Harry can make simple computations and draw incredulous conclusions such as these.
If his post gets viral enough, I'm willing to bet Temasek's response will paint a clearer picture which would easily refute his claims.
Also, Balding is an Economics prof. Looking at his CV, it doesn't seem like he's a Financial Economics guy either. I would question how familiar he is with Accounting standards. Let's be wary of the Halo effect. Just because the guy has a Phd doesn't mean he's an expert in other fields.
Btw, I'm no fan of HC and Temasek either. I don't think their performance is out of this world given the advantages they have in the form of having been supported by the privatisation wave of GLCs.
He may be no idiot but I don't believe Temasek is staffed with idiots either. No one puts self-incriminating figures in a publicly available document where any Tom, Dick or Harry can make simple computations and draw incredulous conclusions such as these.
If his post gets viral enough, I'm willing to bet Temasek's response will paint a clearer picture which would easily refute his claims.
Also, Balding is an Economics prof. Looking at his CV, it doesn't seem like he's a Financial Economics guy either. I would question how familiar he is with Accounting standards. Let's be wary of the Halo effect. Just because the guy has a Phd doesn't mean he's an expert in other fields.
Btw, I'm no fan of HC and Temasek either. I don't think their performance is out of this world given the advantages they have in the form of having been supported by the privatisation wave of GLCs.