This video shows quite a few places we have been in Dubai but we have not "done that", i.e., invested, splurged, lived it up like the well paid folks here in Dubai. Even if we had been here early, we also wouldn't have as we did not back in Singapore. I am comforted many Singaporeans are also not so reckless. On the other hand, I think the managers of our SWFs rated their abilities too highly. I am not faulting them on their performance but their inability to appraise risk better. This crisis was no Black Swan, if I may borrow the idea from Nassim Taleb.
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