No problem.

Yes, it's ok for you to like ICAP.
It's your choice.

Back to Teng Boo.
Yes, of course, he's an experienced stock picker but do you realize that he's just a fund manager and as a fund manager he should be judged on his performance.
Yes, this is a performance based industry and as a fund manager his duty is to make money for the shareholders.
How does one judge his performance?
Simple.
Look at what he has done the past few years.
And undeniably, anyone who knows anything about investing, can clearly see what Teng Boo has done.
He adopted to a 'stay cash' strategy.

Wait... now that's an ok strategy.
Nothing wrong with it.
It's fine.

The problem is, the data showed Teng Boo adopted this strategy since 2010.
Cash reserves clearly build up in the fun...
which indicated Teng Boo was a nett seller for the fund.

And of course, some can clearly understand what he is doing.
He started the fund at the right time.
Picked a couple of great stocks.
Market rose....
The stocks gained very leng chai for the fund.
Bravo.
Hey, I applaud him for this success. 
But since gaining this success or lead, he chose to sit on it...
Like football.
Score one or two goals early, and then defend, defend and defend....

Now......................

THE BIG PROBLEM IS........

the market continued to rise and rise.... while Teng Boo, the fund manager, chose to sell and accumulate cash.

CLEARLY Teng Boo has been wrong about the market since 2010.

Clear as broad daylight.....

Saddest thing is, his ego is getting the better of him, and he has been shouting every year the market is over valued blah blah blah each year since 2010.
And each year, market has proven him wrong.

Sorry but this is how he should be gauged.
His form is badly wrong since 2010.

Like football, you can have a terror geng player in the team...
but sometimes, this terror skillful player can have ZERO form..................

If you are the team manager, should you keep him on the pitch, just because of reputation sake, or should you leave him out of the team cos his current form sucks?

Just some opinion for you.