That man is famous for the infamous Renong episode in 1997/1998. Humans never change unless he is near the graveyard. So do habits. Habits die hard. Time will tell

This is part n parcel of an open market. Your gains are somebody else's losses. Nothing so special about that. People take risk to make money.

As to the market plunge in 1997/1998, foreign players don't run away for nothing, They sensed that something was not right about the economies of SEA and that the boom could not be sustained. By that time, Japanese factories operating in SEA could not make any money n they could make money even if they produced the same goods in Japan.The gradual fall of the JPY starting in 1995 produced this setting. When the foreign players realised that something was not right, they rushed for the exit. In hindsight, it was the pegging of the Asian currencies (MYR included) to the USD that made them uncompetitive.

---

Added on November 20, 2010, 11:34 pmquote
12. I hope I am wrong. But sometimes my predictions about money and markets have proven to be right. In any case I only own 200 Malayan Tobacco shares bought before I became Education Minister. I have nothing to gain or to lose, but the country and the stock market investors will lose.
unquote

Well if that is the case, I wonder why BNM did not adjust the MYR-USD peg when the JPY started sliding in 1995. Why wait for the market forces to adjust it for you???

This post has been edited by Oracles99: Nov 21 2010, 02:03 PM

PRC will probably restrain N.Korea. It is not in its interest to see both s.Korea n N.Korea fighting. Stay cool lah

This post has been edited by Oracles99: Nov 23 2010, 07:06 PM