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Strategies & Market Trends : HONG KONG

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To: tom who wrote (2310)	9/10/1998 8:49:00 AM
From: Defrocked	Read Replies (1) of 2951

Tom, What do you think of the HKMA's proposal to set up a separate holding company or "government trust" in order to manage their burgeoning portfolio of stocks? How about government representatives on the boards of companies held by the portfolio? Smacks of socialism IMHO. scmp.com If Donald and Joseph wanted to run an investment portfolio they should have resigned their day jobs first. But assembling a US$15 billion portfolio using taxpayers' money was just too hard to pass up at HKMA I guess. I, for one, would now like to incentivize their portfolio performance by linking their compensation to the return on the 120HKD billion they now have under management! Furthermore, since the total amount of funds currently under "management" by HKMA represents 5 years of welfare system expenditures maybe they should also return to the taxpayers any shortfalls from their personal funds. Such shortfalls are highly unlikely, I presume, since Donald and Joseph are obviously smarter than the market.<g>

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