How is LIC in managing investment?

LIC is the biggest insurance giant in India. Most people know that LIC has a very long term view on investments. But even long term investors like Buffett doesn't like to loose a lot of money in the short term (it is a different matter that Buffett lost 89% of USD 288 Million investing in Irish Banks this year). Lets take a look at the investments made by LIC in one recently listed company, Gateway Distriparks. Following is the investment pattern of LIC in GDL:

Quarter	Shares bought	Average Price	Total Investment (INR Crore)
March 2007	945601	170	16.07
June 2007	831423	180	14.96
Sept 2007	767772	140	10.75
Dec 2007	3314496	145	48.06
Total	5859292	153.35	89.85

At the end of December 2008, the total INR 89.85 Crore invested in GDL was worth just INR 26.37 Crore on 6th March at a price of INR 45 per share. I will try to find more such investments.