Dirty Bullshit Bank Launches Tech Loser Fund

RAFFLES PLACE, SINGAPORE -- Undaunted by the current poor market sentiment for technology stocks, Dirty Bullshit Bank, DBsB, has launched a new technology fund, called the Tech Loser Fund.

DBsB hopes to raise about S$30b from the open-ended fund though declined to give a time period for the fund to achieve its target.

Sub-managers for the new fund, Barring Merchant Bank, a London-based asset management and advisory merchant bank, said that with the worldwide economy would experience a slowdown, there will be a lot of cheap bargain technology stocks out here. 

Mr. Gangganglai, Chief Portfolio Manager at Barring, added that with many of the technology and internet stocks being battered in 1999 and 2000, 2001 will be a good time to pick them up. 

"There are stocks in the NASDAQ like the e-Machine, and the about to bankrupt e-Toys that are great bargain! With a mere US$100, you can buy 10,000 shares of these companies. If they do not go bankrupt and the U.S. economy picks up, this $100 investment can easily turns into millions of dollars." said Mr. Gangganglai.

"Of course, if the firm does go bankrupt, there is nothing much we can do. That is why we named it the Tech Loser Fund." added Mr. Gangganglai.

"There are stocks in the NASDAQ like the e-Machine and the about to bankrupt e-Toys that are great bargain! With a mere US$100, you can buy 10,000 shares of these companies. If they do not go bankrupt and the U.S. economy picks up, this $100 investment can easily turns into millions of dollars." said Mr. Gangganglai.