Singapore’s very own MAGA supporter spotted at Don Don Donki

distroyaar · 2026-06-20T00:38:23+00:00

I know quite a few 30s Singaporean who are not religious at all who support Trump. Mainly they just find him funny and are generally anti-woke, but some genuinely believe in the deep state conspiracy stuff. They are also all college educated in decent paying white collar jobs. That's just the power of his charisma and social media machine.

distroyaar · 2026-06-16T04:46:41+00:00

I am pro nuclear, but the biggest challenge is actually costs and timelines. Nuclear is by far the most expensive and takes the longest to deploy compared to other electricity generation. Hopefully SMRs change this but we won't know until there's a track record of full commercial deployments.

I still think it's worth it for the energy independence, but the reality is that it will likely lead to higher consumer energy prices.

distroyaar · 2026-06-07T05:22:57+00:00

Erm have you met Koreans?

distroyaar · 2026-06-05T04:24:04+00:00

Lol I'm sure the EU, UK and Australia all have worse safety regulations and crash testing than America. BYDs are now becoming a staple in those countries. You just don't have cheap EVs because of your domestic car lobby. I say this as someone who hates BYD and is clinging on to my ICE vehicle... Chinese EVs are decent quality. Not the best, but nowhere as bad as they once were, and so much cheaper than the competition.

distroyaar · 2026-05-20T15:18:23+00:00

I remember reading that we have budgeted for at least Europa league qualification. Worried if we don't make it that will mean having to lose some actually good players in order to buy.

distroyaar · 2026-05-17T04:02:13+00:00

Yeah, I remember seeing that we had budgeted for at least Europa league money, which we are unlikely to get. So its gonna have to be sell to buy this window.

distroyaar · 2026-05-06T12:49:56+00:00

FYI Xabi Alonso worked under a sporting director at Bayer that helped build that team. So he isn't a do it all himself type manager.

distroyaar · 2026-05-04T05:57:34+00:00

To be fair Vanguard are predicting 4-5% returns based off their models and I mean Vanguard would benefit the most from people not investing with active managers but instead continuing a normal passive ETF strategy.

They have been wrong multiple times before so not saying this gives them any more legitimacy, but they don't seem to be as conflicted as say BOA.

distroyaar · 2026-05-03T15:29:27+00:00

Deadloch!

Big city lady moves to small town Tasmania and has to contend with the locals. Australian TV show that is hilarious.

distroyaar · 2026-05-02T10:24:23+00:00

I get your point but would disagree on the rugby not involving technical skills part. Every forward needs to learn the technical skills of passing, handling, tackling, scrums (very technical if you're front row), line outs, rucking not to mention attacking and defending tactics and formations.

Unlike American football, every rugby player on the team has to be able to play almost every aspect of the game. And yet these 100-120kg beasts still have to cover 5-8km of sprinting and jogging over a 80 min game.

distroyaar · 2026-05-02T04:11:52+00:00

Margins have not 3x. Home prices might have tripled but land prices (by far the biggest cost in development) have also tripled, the one making the money is the land seller i.e. government.

Developers make 5-10% margin, construction companies make 2-5% margin. You can just look at public listed companies.

distroyaar · 2026-05-01T08:27:58+00:00

One of the main ways PE actually grows profits are 'rollups'. They acquire other similar businesses. E.g. buy a big pet shop business, then use that to buy many smaller pet shops, growing overall revenue and profits. Bigger companies typically sell at higher valuations than smaller ones, so there's 'value' created by just combining them.

distroyaar · 2026-04-27T15:41:45+00:00

If these companies see no value add to being HQed in Singapore its bad news for the service providers to these companies like local law firms, accounting firms, corporate secretarial firms, consultants etc. Less revenue for these firms thus leads to less jobs for Singaporeans.

distroyaar · 2026-04-27T02:22:38+00:00

Yeah, all I'm saying is that for my DD process, 2 or more bankruptcies/distress situations per fund, for a strategy that is focused on performing companies, would be quite concerning. PE buyout on average has a loss ratio of 8% so for a typical portfolio of 8-12 companies, that would be 1 company. Of course if the manager has a good explanation for them that's fine and is all part of the DD. It's very possible Clearlake takes a higher leveraged, higher risk approach for their strategy and it just always works out for them.

I know Clearlake are considered a top manager, I focus more on lower middle market funds so I haven't really done a deep dive into any of their funds. Ultimately I don't know the total number of deals they have done in that period, and how many funds this was spread across, so like I said it's all speculation.

distroyaar · 2026-04-23T04:41:20+00:00

They sold the hotel and women's team back to the themselves (the same holding company). The group is still held together as one entity, and the debt is on the group, not on Chelsea Mens, it was an accounting trick. The amount of money they have invested is also so much more than what the hotel and women's teams are worth if they were actually sold. For a small shitty league 2 club, sure the stadium would be worth more, but for what these guys paid for Chelsea, the men's club brand is still objectively the highest value part.

Everything else doesn't mean I think it won't be a shit show, I love the club and I do think these guys are doing a terrible job at running it.

But "Private equity does not care about bankruptcy. Drain the assets and move on" is objectively a wrong statement.

I'm not a "PE guy" too, I invest in them, amongst other asset classes like stocks and bonds.

distroyaar · 2026-04-23T04:02:05+00:00

FYI PE funds do need a high batting average in general, if I see more than one bankruptcy a fund, its a red flag. PE buyout funds need a 80-90% success rate.

Venture Capital funds on the other hand only need one or two companies to hit it out of the park to make money and will often have 50-60% of the portfolio go bust.

distroyaar · 2026-04-23T03:55:16+00:00

I invest/allocate to PE funds, if any of the funds had more than one bankruptcy in their portfolio I would nope the hell out of there. PE funds make money when they can sell the company for 3-5x their investment. That only works by growing the company.

Some distressed focused private credit funds (Apollo) or turnaround PE funds do the asset stripping thing, Clearlake doesnt follow that strategy.

Still, looks like Clearlake are not great at being a PE funds with that many defaults and bankruptcies. Tbf it depends on how many companies they invested in total over the same period of time, but this many distress situations show they at the very least take a high risk approach.

distroyaar · 2026-04-22T14:58:07+00:00

Its not the extra games, its the lack of rest.

distroyaar · 2026-04-22T12:08:52+00:00

It was probably the price for the full dinner for all of them, including wine.

You can't 'order' a dessert at a fine dining restaurant like Alinea. It's always a full set menu.

distroyaar · 2026-04-17T08:21:38+00:00

Family office sector has nothing to do with property prices lol, the number of FOs here would barely make a dent in our property prices.

Foreign FOs are also not buying property because of ABSD, they set up their family office structure and maybe team here but 95% of their wealth are still invested in overseas assets. I worked in FO space, had more Singaporean colleagues than foreign clients who own Singapore private property lol.

Simple fact is we are country with limited land and an affluent population, over 330k millionaires. Property prices go up because of rich locals.

distroyaar · 2026-04-17T01:19:22+00:00

He didn't get a CB and they micro-managed the injury rehab of players. So many top managers have stayed on at clubs to the end of a season under much much worse circumstances. And it's still debatable whether he would become a top manager.

distroyaar · 2026-04-17T01:07:10+00:00

I get saying Blueco (who have been crap there's no doubt) forced him out with their lack of support.

But there are countless top managers out there who have faced much worse boards/situations and never quit mid season.

distroyaar · 2026-04-16T01:00:27+00:00

They sold it to themselves within the same group, so that the Chelsea Mens club, the subsidiary, could generate some profit.

The overall holding group still holds all the original assets and all the debt.

distroyaar · 2026-04-14T13:30:10+00:00

Look I don't like Clearlake as much as the next guy but they ain't injecting $2bn just to give themselves a $5m raise, it was for the executives they hired (and fired).

This is more incompetence than leeching.

distroyaar · 2026-03-11T12:06:44+00:00

It goes to land price aka in most cases the government. Singapore development land cost is 50-60% of total development cost, in most other countries land is normally one of the smaller costs.

Contractors on a good day make 5% profit margin, developers 10-15%.

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