Hi Fellow Automated Millionaires,

I am quite surprised when our Minister Mentor (MM) Lee Kuan Yew actually do take some of his precious time to explain why is the Singapore Government investing in Russia on The Straits Times 7th June 2008. And after reading the article, it fully explains why now my BRIC funds are earning money in this financial crisis :) MM Lee mentioned...

Trade cycles are not synchronised in China, India, the Middle East and Russia, he (MM Lee) noted, adding: "if you have a downturn there in Asia... you get the upsides here. These are factors that every businessman must take into account."

As what MM Lee said, he is seeking for diversification from Emerging markets and that is exactly why my Mentor strongly believes in BRIC funds. And I believe him! MM Lee also added the following...

"I'm in favour of spreading our bets because you might have a recession in East Asia, but there might be no recession in Russia or the Middle East because they are oil states and they can survive the recession," he said

Until recently, everyone has been pointing finger at OPEC members for pushing up the oil prices causing the inflation in almost every country shoots up like hot cakes! Well, OPEC members in turn said that it was the weakening of US dollars that pushed the prices up! As end consumers of oil, regardless of what, we end up being the victims. The only way to save ourselves from the raising oil prices is to hedge against it by investing in Resources Fund (or hold stocks of oil companies).

"If I did not believe we are helping to diversify and to reduce our volatility, I would not have spent the time," said MM Lee. "This is an extra wing for us, extra dimension for us."

If the Singapore Government needs an extra wing, don't you think that we too need an extra wing in our investment to make us a Millionaire? :) I don't know about you but my Mentors and I are sticking with the BRIC direction now :) How about you?

Yours Sincerely,
Max Tay - The Automated Millionaire

P.S.: Download the whole article The Straits Times 7th June 2008 - MM Lee: Why are we investing in Russia?