Over a decade ago, some 10,000 retail investors in Singapore lost over $500 million after the American investment company filed for bankruptcy in September 2008.
Some time ago, Singaporean investors were perceived to have quite an international outlook. The experienced investors, in particular, knew what they were getting themselves into when dabbling in the foreign markets.
But a few notable events coloured this perception of the savvy Singaporean, says Carol Fong, group CEO of CGS-CIMB Securities, especially the Lehman Brothers minibond saga.
