I haven’t written much about the recent stock market draw down, more or less because in recent times I tend to be a little bit more passive about it. However, perhaps I can provide some thoughts at this current juncture and what might be running through some of your heads. At its highest, the STI Index reached 3549 and currently it hovers around 2950, bringing the total drawdown to be 16.9%.

I do not know what causes this

Many have asked for an explanation of the exact cause of this fall. I have to admit I have no idea. I am not smart enough to deduce it. If I were to guess, a lot could be due to fund flows being pulled out of the country. Singapore, being a small market, do see external fund flows in and out of the market, and this tends to cause rather large ......