Temasek Holdings - still "long term" strategy despite huge losses?

Our investment thesis had changed from Merrill's specific businesses to the more diversified BoA linkage to the broader US economy.

Temasek spokesman Myrna Thomas, explainin why Temasek sold its stake in Bank of America (BoA), resulting in estimated losses of between US$2.3 billion (S$3.3 billion) and US$4.6 billion.