1:00 p.m. (b)
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It's too I don't know.
Disappointing for me.
I think some girl, Shehara or someone.
Shehara De Silva is supposed to be ports minister.
I even added Chamindra and a few people to do it..
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I think that a mistake in strategy by Rajapaksa and many national managers.
Or country managers
Is that they bet money. They pump a lot of money and then it doesn't work.
So Hambantota port, Port City, roads.
I don't do that..
I put some small sums into it.
So $100m. But I invest it smart. And also, I only add more when there is a return.
Putting $1.5b is a mistake into Hambantota port.
It only got 50 ships or less.
So no need $1.5b. You might as well have put that $1.5b into the Colombo Port because it's already making money.
So faster cargo handling.
I think with $100m in equipment, you could have easily managed Hambantota Port. You can serve 50 ships and its cargo.
The mistake is to do with reasoning. See, when gambling, many people have different strategies. But they forget it's gambling.
With Poker, you can bet everything on a Royal Flush, with utmost confidence. But that's the only time. It's absolute rare.
Everything else is a game of chance, it's just to do with luck. Hit and miss. Spray and pray. You don't know.
Some bet it all. If they have $100 in casino chips. They bet it all in one hand. In one Roulette Wheel game. Like in Indecent Proposal. And you know what? This is in fact, statistically, the very best bet. Because in probability, you can see, when you multiply probabilities, again and again, it just keeps on getting exponentially worse.
So if you have a win chance at Roulette, at around 50%, then multiply 50% by 50%, what are you left with? Is it 25%?
Yeah.
Do it again.
25% x 50% = 12.5%
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Some people, and most people, they don't bet it all, they don't spend it all.
They bet in small increments. Such as the jackpot machine, the slot machine.
They keep betting $1, and try 100 times.
It always fails.
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With me, investing, putting $100m, in small increments, is wise.
See the thing here, is that the only one person who wins at gambling is the house or owner or operator of the casino, or the very cool government who support your monopoly.
And in this case, you want to be the one, to actually make the casino operation happen or supply the tables, slots, etc.
So this where you see, my strategy, to bet small, you have to buy a small area, buy 1 jackpot machine, buy like 50 after like 5 years, buy this and that.. you bet in small increments.
If you have $100m, you use $10m, every year, and make sure you are earning.
So it's a real, sure thing.
With our harbor, the issue isn't the port itself, it's the strategy.
It's betting it all, which was the mistake.
And that's stupid.
I think
You end up, with a $1.5b loss. As it's got high operating costs. Even Port City, it costs $15b. But the danger is the operating losses, every year.
I should just be a bit positive. It's not a really bad financial problem. ████████████████████████████████████████████████████████████████████████████████████████████