Portfolio Update August 2009

Portfolio Cumulative Return since 2007 : -0.06%
Equity Cumulative Return since 2007 : +3.47%
Dividend/Coupon/Interest received for 2009 : SGD$64,061

P/S :
1) Bought into SHK Corporate Arbitrage Fund with John paulson as underlying Fund manager.
2) Tendered SPC shares for a total gain of 90%.
3) Renewed Aud deposit for 3 months at 3.05%.
4) Sell out of Cathay Pacific Bond yielding 3.8% and intend to use the money to buy into equities yielding more than 5%. Current portfolio is yielding sub-2% level as a portion of the portfolio is in non-dividend paying funds.
5) Speculative play on Citigroup at average cost of $4.40.

Why Paulson is buying Citi?

This was taken off Paulson's 2008 Annual Report for his shareholders. Specifically, he has launched a Recovery Fund late 2008 and has cited Citi as an example of a recovery play he might be keen on. I believe he was also an active buyer of Bank of America.

Extracted from the key introduction of the Recovery Fund :-

What would your last meal be?

I read with amusement on the above question posted by the Foodie Connection reporter, to a 50+yr old restaurant owner in the Sunday Times.

To which the owner responded "I don't think about those things", obviously kinda perturbed by such a morbid question.

Wouldn't it have been better rephrasing it in a more 'fantasy' way like "If there was only 1 food left on earth, what food would you like to have everyday?". This will put the interviewee at ease and reveal his/her desire since it's kinda a "fantasy" question. But to ask "What would your last meal be?".. Now that is really dumb. I can understand when an evocative question like "What would be the last thing you want to do in your life" is asked, people will want to tell you what is the thing that matter most to him/her. However, a Meal? Com'on?! If the last thing you want to do is think about what you want to eat.. I guess it speaks volume of you. So how do you expect the interviewee to answer?