Temasek bought and sold too early?
But Temasek, the investment arm of Singapore, could be feeling a bit of seller’s remorse. The fund recently reported selling its entire stake in BofA — at an enormous loss, by all accounts — some time before March 31. Since then, BofA’s stock is up about 74 percent.
Of course, of course anyone could intone “Hindsight is 20/20”. So Singaporeans better pray hard that Temasek’s investment in Bank of China Construction Corp goes well. Unlike in Merrill, where Temasek bought too early, it may be that Temasek bought too late in China. We’ll see how this plays out.
Update: It’s looks more and more like Temasek sold BoA shares too early. Their success at raising capital looks likely to drive up the share price.