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Choivo Capital

Author: Choivo Capital   |   Latest post: Sat, 6 Jul 2019, 5:16 PM

 

(CHOIVO CAPITAL) Why do i write? And why you should too.

Author:   |    Publish date:


One of the comments I get the most often is.

Why do you write? Or more precisely, what makes you qualified to write?

It’s hilarious really, as if one needs a certificate to write publicly. However, let me entertain this question for a second.

 

As per Apabagus,

“Jon baby.There is only one WB,same as one Bill Gates,same as one Jack Ma. You would do well to start as a mouse.One year plus experience talk so much.

This Amos biscuit is ok.Jon baby,dun say i dun put money in ur pocket.There is a book "Market Wizards".Go read it.Then you will know how small you are.One year plus experience dun talk so much.hahaha.”

 

There are a few reasons why I write.

 

  1. To crystalize my thoughts.

There is nothing better than writing it down on a piece of paper, to properly organize your thoughts and your thesis on an investment.

When you write, you have to think, arrange and elaborate, it really helps you think deeper on the topic.

 

  1. To find out if I’m wrong.

There is a rule in Blackrock, when they have a meeting discussing investment or trading ideas. Leave your ego at the door, and everyone in the room must make a comment.

And here’s the kicker. You cannot agree with the person, you must disagree and point out all the weakpoints. That’s how they make sure they reduce mistakes.

One of the best ways to reduce mistakes is to invert. Want to succeed? Find out all the ways to fail and ignore them.

And on the internet, one of the best ways to get the right answer, is to give out your opinion in an arrogant manner. Or better yet, give the wrong answer! Hahaha

Contrary to popular belief, I am not trying to win the argument, nor am I trying to convince you.

It’s not to my financial benefit to have more value investors. I would rather everyone is like OTB, Icon8888, 500%TTT, FamousAmos and Ayoyo etc

If Kcchongnz says tomorrow he will start using TA and predicting quarters, I will go out and celebrate, and send a case of wine to New Zealand. Hahahaha

I would rather I be the only value investor in I3. This will ensure I will always have things to buy.

Whether or not you agree with me, is of zero use to me. I am only interested in finding out if I’m wrong.

I would much much much rather if you disagree with me. I agree with me, I don’t need you to agree with me.

The only way to prove all swans are white, is to find a black swan.

Sometimes, one can turn out to be very wrong and look like an arrogant fool.

I’d rather look like an arrogant fool in my writing, than to be an arrogant fool in my investment.

Personally, I’m really happy so many people disagree with me on JAKS, espeacially people whose opinion I respect. I’m studying further, but the lack of a strong argument backing up the disagreement is kind of irritating.

If ICON8888 made me look like an arrogant fool on Friday morning, I could have bought some half an hour later and make some money.

Instead, I have to spend a few more hours understanding the IPP industry, and the Vietnam economic structure, and governance.

Why do you think ICON only bought 1/3 of his ultimate position in Jaks, and that I only bought a 2% position in Layhong? We have no idea beyond a good feeling and a rough understanding!

 

  1. To meet new people or investors.

You think I’m doing this for free meh, hahahaha.

How do you meet new people? You take the initial risk of rejection and introduce yourself. How do you get a new friend? You take the initial risk of sharing more about yourself, and see if he reciprocate. Etc etc.

Writing my posts, allow me to take the risk en masse. And because of this, I’ve met quite a few people. Some are traders, some investors, some are brilliant, and all of them good people.

They all taught me something, whether investing or other areas in life.

And all of them I would not have met otherwise. My life would be less rich without them.

I do my best to be intellectually honest and super clear about my thinking and investment philosophy, and in terms of my fund, it has paid off with the addition of a few new investors.

All of them have already read most of my posts, saving me the three hours or so I would otherwise need to have new investors properly understand my philosophy.

And we can just talk, shoot the wind, and discuss the current picks, instead of me giving a talk on value investing and my philosophy for 3 hours.

 

Conclusion

I expect to continue writing for the foreseeable future.

And to the people who constantly doubt or disagree with me. Thank you.

Even if you’re slanderous, or lashing out due to a hurt ego, i’m fine with it, and would encourage further comments. Occasionally, one of you say something interesting, and that makes sifting through all the bullshit worth it.

I can be found on facebook at the same name. Hit me up if you want to speak more.

 

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Facebook: Choivo Capital
Website: www.choivocapital.com
Email: choivocapital@gmail.com

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  3 people like this.
 
Dato Seri John Lu Well said Ven sifu!!
26/08/2018 11:27 AM
Armada An Quantum Leap Stock In 2019/2020 Balance is what we need generally.
26/08/2018 11:27 AM
qqq3 by Koon Bee > Aug 26, 2018 11:17 AM | Report Abuse

This Jon baby no big no small, 读死书, must learn how to respect others especially all big name sifu here i.e OTB, Icon, KC etc before learn how to invest. 做人的道理 also dunno, how are u going to success??
=============

its also a huge market out there.....
26/08/2018 11:28 AM
Armada An Quantum Leap Stock In 2019/2020 No doubt Jon has very good writing skill, keep it up .
26/08/2018 11:31 AM
Armada An Quantum Leap Stock In 2019/2020 Maybe 1 day can write in to take up Top Economic Journal for Malaysia...
And challenge the Taiwan 金钱豹 tv programme .
26/08/2018 11:33 AM
Dato Seri John Lu Jon baby aka angelababy (new name given by CharlesT sifu) If u want success, show result. Dont step on people's head to make yourself look good but in actual you are just a newbie with 1 year exp without much track record. All are based on the theory that u read. Read every single words from investment book or a comoany AR so what?? Will that enhance your real investment skill?

Same pattern like TanEnd condemn other people's pick to promote his own losuy holland pick. Low life.

Investment rules number 1: Stay away from TanEnd
Rules number 2: Dont forget rules number 1
26/08/2018 11:34 AM
kcchongnz Posted by qqq3 > Aug 26, 2018 10:54 AM | Report Abuse
I dont consider myself attacking this Jon, count me out of it.
my favorite target remains OTB and KC...gives me great pleasure.


It gives me great pleasure too to expose a fake, a liar, a PLP etc., a know-nothing fake accountant, just by responding to your "attack".
26/08/2018 11:41 AM
qqq3 kc ...u talk so much for what?

why didn't you write....possible rights issue coming from Sapura, better watch out....that would be called good analysis....

or some thing useful....

no...all you want to write about is how to be a chicken....and common cliches....
26/08/2018 11:59 AM
kcchongnz Posted by CharlesT > Aug 26, 2018 09:05 AM | Report Abuse
Kc chong may be wondering wtf he was doing all this while...spending years n hard efforts in writing so many long posts for what?
New boy in the town with less than 20% return in 2017 dare to ask for rm5k for one single tips (??)...

Charles, I know wtf I have been doing in i3investor, and very happy about it.I have written 331 articles in i3investor. Yes, not much monetary rewards, which is not the most important thing in life, but the pride of doing some social service to the public in educating those who wish to learn something useful in investing in stock market.

Don't you think I am doing something good for the society?
26/08/2018 12:07 PM
CharlesT Yeap.agreed
26/08/2018 12:09 PM
OTB Posted by qqq3 > Aug 26, 2018 10:54 AM | Report Abuse

I dont consider myself attacking this Jon, count me out of it.

my favorite target remains OTB and KC...gives me great pleasure.

Ans :
I will worry that you are very nice, no chance for you to attack you back.
Liar like qqq3, I always treat him like a mad dog, faked accountant, PLP kaki and tin kosong.
So far, he never recommend any stock except talking nonsense like business sense.
No well define rule on business sense in share investment.

My past 5 years excellent records, liar or bullshit king qqq3 cannot match.
In my gentleman competition with him,
qqq3 is the loser.
Hence qqq3 is a forever loser if compared against me.
It is inside I3 record and it cannot be denied.
qqq3 needs to jump 10 times also lost to me.
It is my record.

I do not mind lose to others, I cannot lose to qqq3.
qqq3 is a forever loser if compared against me.
26/08/2018 12:18 PM
kcchongnz Posted by CharlesT > Aug 26, 2018 12:09 PM | Report Abuse
Yeap.agreed

Thank you very much. Not easy to get good words from Charles, you know.
26/08/2018 12:19 PM
Armada An Quantum Leap Stock In 2019/2020 kcchongnz sir,

Should compile them into a book...
26/08/2018 12:19 PM
kcchongnz Posted by VenFx > Aug 26, 2018 12:19 PM | Report Abuse
kcchongnz sir,
Should compile them into a book...

Thanks VenFx,it is in the process. It ill be out before this year. Hope you can support.
26/08/2018 12:21 PM
qqq3 kc....whether fake accountant or real accountant....not that much significance in stock market...funny...engineer like you pays so attention whether I am fake accountant or not....

whether I am fake accountant or not does not matter.


I am a trader....have been writing about trading and writing about the bull-shitting going on in so called value investing as written by you.....load of bull - shitting...

margin of safety? my foot
Buffalo style investing in Malaysia?...another bull-shitting

One of my strength, ...critical thinking...and recognizing hang pig head sell dog meat....this strength very useful in stock market....

and of course, business sense....nice to read articles with lots of business sense.....but this requires uncommon talent and a lot of thinking....
26/08/2018 12:24 PM
kcchongnz You openly said you like to carry out personal attack on two persons here, kcchong and otb.

1) What kuali you have to do that? You just can't response to me any of my question to you on some simple investment terms. That clearly expose you are a fake.
2) What records you have to qualify you to do so? You don't even have RM100k to invest after working so many years as "accountant"
3) Why you want to do that to me? Just because I am propagating fundamental investing? Why?

You are a trader? I know of course. Why so great about that? Are you able to or have you articulate how your trading strategy is; besides saying oh I bought this at 50 sen two weeks ago, and luckily I sold if off this morning at RM1.00.

Nobody learn anything from that kind of statement. Tell us why you bought, and how you decide to sell.

Critical thinking your strength? You really use your brain when you carry on personal attack?

You have BS? Have you clearly article wtf your BS is? Yeah of course, bull shitting a lot. Talk nonsense.



Posted by qqq3 > Aug 26, 2018 12:22 PM | Report Abuse

kc....whether fake accountant or real accountant....not that much significance in stock market...funny...engineer like you pays so attention whether I am fake accountant or not....

whether I am fake accountant or not does not matter.


I am a trader....have been writing about trading and writing about the bull-shitting going on in so called value investing as written by you.....load of bull - shitting...

market of safety? my foot
Buffalo style investing in Malaysia?...another bull-shitting

One of my strength, ...critical thinking...and recognizing hang pig head sell dog meat....this strength very useful in stock market....

and of course, business sense....nice to read articles with lots of business sense.....but this requires uncommon talent and a lot of thinking....
26/08/2018 12:35 PM
qqq3 bottom line...

trade war, belt tightening, ringgit still one of the strongest emerging currency in the world but for how long? disappointing results, accident in Wall Street..

people still a-go-go....compounding, they say....well, lets see la.
26/08/2018 12:35 PM
qqq3 and this OTB, specializing in high risk high rewards shares....lets see how long more.....
26/08/2018 12:37 PM
CharlesT Kc is one of the very rare ones to share here with noble intention...i meant real noble intention...

Though i always fell asleep halfway reading his posts...my bad i guess
26/08/2018 12:38 PM
Alex™ Don't attack kc sifu la... If he stop posting, I have one less quality article to read.
26/08/2018 12:43 PM
qqq3 kc....whether fake accountant or real accountant....not that much significance in stock market...funny...engineer like you pays so attention whether I am fake accountant or not....

a lot of your approach to stock market is summarized by an author who wrote about Physics envy by engineers participating in stock market. .....looking for a physics formula to solve stock market problems........
26/08/2018 12:44 PM
qqq3 those quants in Wall Street have brought the average holding period of shares to 20 seconds from 8 months in the year 2000.
26/08/2018 12:54 PM
OTB Posted by qqq3 > Aug 26, 2018 12:37 PM | Report Abuse

and this OTB, specializing in high risk high rewards shares....lets see how long more.....

Ans :
You will never win me in this life for sure.
I will retire soon.
26/08/2018 12:57 PM
qqq3 people say why hantam OTB and KC...

I say, if not me, then who else?
26/08/2018 12:59 PM
kcchongnz Posted by qqq3 > Aug 26, 2018 12:44 PM | Report Abuse
kc....whether fake accountant or real accountant....not that much significance in stock market...funny...engineer like you pays so attention whether I am fake accountant or not....
a lot of your approach to stock market is summarized by an author who wrote about Physics envy by engineers participating in stock market. .....looking for a physics formula to solve stock market problems........


You read, or rather flip through some pages of some books and talk as if you know so much about it, but in fact, very superficial understanding.

Take for example, those people are using quantitative investing in your physic envy, often with complicated algorithm, such as that Black-Scholles formula by the Nobel prize winners in Economics.

Fundamental investors emphasizes on understanding of the business, how it makes money, is it making good money, is the business sustainable etc. They of course have a feel of what the value of the business is and to compare to its price if it is worth investing. The maths involve is just simple maths, and they are essential.

For example, you talk about "fooled by randomness", presumably a book by Nasim Taleb, but you talked about nonsense with nothing related to the book, or you just simply don't know you yourself is fooled by randomness, by saying i bought this share at this price and sold it and made so much money, and some other trades you have made.

You can fool some of the people some of the time but you can't fool all the people all the time. The more you talk, the more you expose your stupidity.
26/08/2018 1:02 PM
kcchongnz Posted by qqq3 > Aug 26, 2018 12:59 PM | Report Abuse
people say why hantam OTB and KC...
I say, if not me, then who else?


1) What kuali you have to do that? You just can't response to me any of my question to you on some simple investment terms. That clearly expose you are a fake.

2) What records you have to qualify you to do so? You don't even have RM100k to invest after working so many years as "accountant"

3) Why you want to do that to me? Just because I am propagating fundamental investing? Why?
26/08/2018 1:07 PM
qqq3 i3 in particular is just dominated by this....


man to fit the environment or environment to fit the man.....

if you are KYY....with KYY record, confidence, bullets, attitude towards risk, money and wealth, worth hundreds of millions, what is a few million here and there?

its nothing.....if you are widow with fixed allowance, money has a different meaning.....your attitude towards risk, money and weath is very different from KYY one.

KYY has no hesitation in changing the environment to fit the man....KYY has the confidence and the bullets to change reality. ....The only problem is....how many of us are KYY?

That is why we hunt in the middle, eating left over grass.....KYY hunts in the edges, eats fresh grass ....feast or famine......even if famine , KYY still has his abalone ......what people say, several generations no worry.....

Chicken , play with nuts , scared scared..... cannot expect to have super investor returns......facts of life....

What has changed in steel industry from March to now? Nothing....except KYY is in, in March KYY was not in.....recall in March, KYY says with every town full of unsold houses, steel shares cannot buy one.....
26/08/2018 1:09 PM
Op3rs aiya jon jon, charge people 5k with your type of strategy ar? can make return anot?

i actually do like your writings on companies, to take alternative views.

but didnt know that you would go so low by hentamming icon and otb.

btw isit because your record is so lapsap, thats why u need to hentam them to gain view counts so that ur customers think you are actually good?
26/08/2018 1:11 PM
Armada An Quantum Leap Stock In 2019/2020 Kcchongnz sir,

Dont worry lar ... i3 readers can measure who is good and who is the excellent great one...

Just ignore the jokers .
26/08/2018 1:15 PM
Dato Seri John Lu Jon baby article like those top 10 active stock. Every article so many comment. Good marketing strategic but wrong implementation.
26/08/2018 1:15 PM
Alex™ Volume lai liao, sailang~ huat ar~~~
26/08/2018 1:16 PM
Dato Seri John Lu Many times big volume and top 10 active could be people dumping like sapres on last Friday. Haha
26/08/2018 1:18 PM
Dato Seri John Lu Those sifu sifu like OTB / Icon / KC not worry la...sometimes those joker come out hoot you all sure have people like us come out to defend u al because I respect u all ma. I3 readers are mature and not stupid la.
26/08/2018 1:21 PM
qqq3 no hantam kc and otb....


all become parrots and lemmings la....

otb say why criticise me?

I no criticise u, u no criticise me....heaven...

too bad this is a forum...


if not me, who?
26/08/2018 2:23 PM
Choivo Capital I've learnt so much reading all of kcc blog post.

The book coming out is one of the best news i've heard all year.

Do an author interview in kinokuniya!

=====
VenFx kcchongnz sir,

Should compile them into a book...
26/08/2018 12:19

Posted by VenFx > Aug 26, 2018 12:19 PM | Report Abuse
kcchongnz sir,
Should compile them into a book...

Thanks VenFx,it is in the process. It ill be out before this year. Hope you can support.
26/08/2018 12:21
26/08/2018 2:30 PM
calvintaneng Posted by Jon Choivo > Aug 26, 2018 02:30 PM | Report Abuse

I've learnt so much reading all of kcc blog post.

The book coming out is one of the best news i've heard all year.

Do an author interview in kinokuniya!

=====
VenFx kcchongnz sir,

Should compile them into a book...
26/08/2018 12:19

Posted by VenFx > Aug 26, 2018 12:19 PM | Report Abuse
kcchongnz sir,
Should compile them into a book...

Thanks VenFx,it is in the process. It ill be out before this year. Hope you can support.
26/08/2018 12:21

VERY GOOD!

ALL SERIOUS INVESTORS MUST GO BUY KC'S BOOK

THUMBS UP!!!
26/08/2018 2:31 PM
Choivo Capital You too free ah?

No big no small. Wah piang eh. You people my best friend is it? You people my family ah.

Here, you are judged only by the quality of your ideas. You are a stranger online. I don't know you at all, for all i know, you can be a 12 year old loser typing on keyboard.

I respect them. But if i sense bullshit, or i think it does not make sense. I will call it out instantly. If you're right, what do you have to worry about? Its good, you get to see other perspective.

If you're wrong, and you're open enough to admit it to yourself, you better send tilapia to my house loh, saved you money leh!

And most important, why i call it out, because i want to know if im wrong loh!

You want unearned respect, go look for your son ask him worship you lah. Come here for what.

====
Koon Bee This Jon baby no big no small, 读死书, must learn how to respect others especially all big name sifu here i.e OTB, Icon, KC etc before learn how to invest. 做人的道理 also dunno, how are u going to success??
26/08/2018 11:17
26/08/2018 2:35 PM
3iii KC

When your book is ready, I will buy 10 of this to give to my love ones.


3iii
26/08/2018 3:02 PM
qqq3 tell u what....

no one has succeeded in stock market by taking a Professor kc approach to stock market.....

I have no problems with Professors and CFAs and taking a portfolio approach to stock market.....


but kc approach mistaking knowledge for wisdom, no business sense.....how to succeed? just not possible.

at best an average out come....
26/08/2018 3:25 PM
Haseltine Jong You didn't provoke anyone in JAKS, but recently, I've seen your nasty comments appearing in this forum. Long way to go for you if you keep up with that. You can be "intelligent investor", but no one will buy your childish attitude.

P.S. - Read your own comments here and see how others perceive you.
26/08/2018 3:29 PM
joetay7 if take a professorship, phd or cfa or cta can make usd millionaire from market, then how come i never heard of anyone with a cfa being a usd millionaire????
26/08/2018 3:31 PM
kcchongnz Posted by 3iii > Aug 26, 2018 03:02 PM | Report Abuse
KC
When your book is ready, I will buy 10 of this to give to my love ones.
3iii


Thank you very much. Your pre-orders have been taken. It gives me motivation to complete it asap.
26/08/2018 3:41 PM
3iii Noted.
26/08/2018 3:53 PM
qqq3 tell you what.....

no more extremely low PE sector...after the 2008 crisis , have 10 years to recover ....steel the last of mohicans? various sectors have been pushed up and down already, some gets raped so badly, even years later cannot recover.

After the next results, two things can happen......the steel shares gets whacked up to average PEs...or more likely, it becomes obvious earnings are declining and outlook not good.....justifying both the trading prices and the low PEs.....


kc the professor got the business sense to comment or see it coming?
26/08/2018 3:56 PM
qqq3 kc the professor and otb the adventurer turns out to be rear view drivers.......


but what we need are business sense and front view drivers.
26/08/2018 3:58 PM
4444 Every town full of unsold houses? Jon Choivo pls sell your Plenitude asap.

Posted by qqq3 > Aug 26, 2018 01:09 PM | Report Abuse
i3 in particular is just dominated by this....

man to fit the environment or environment to fit the man.....

if you are KYY....with KYY record, confidence, bullets, attitude towards risk, money and wealth, worth hundreds of millions, what is a few million here and there?

its nothing.....if you are widow with fixed allowance, money has a different meaning.....your attitude towards risk, money and weath is very different from KYY one.

KYY has no hesitation in changing the environment to fit the man....KYY has the confidence and the bullets to change reality. ....The only problem is....how many of us are KYY?

That is why we hunt in the middle, eating left over grass.....KYY hunts in the edges, eats fresh grass ....feast or famine......even if famine , KYY still has his abalone ......what people say, several generations no worry.....

Chicken , play with nuts , scared scared..... cannot expect to have super investor returns......facts of life....

What has changed in steel industry from March to now? Nothing....except KYY is in, in March KYY was not in.....recall in March, KYY says with every town full of unsold houses, steel shares cannot buy one.....
26/08/2018 6:39 PM
Tom Fyi koon bee is just a gambler a.k.a kyy's bootlicker, lol

Posted by Jon Choivo > Aug 26, 2018 02:35 PM | Report Abuse

You too free ah?

No big no small. Wah piang eh. You people my best friend is it? You people my family ah.
27/08/2018 10:54 AM
Choivo Capital At this price, malaysia can not sell a single property next year, and im still ok with holding it.

====
4444 Every town full of unsold houses? Jon Choivo pls sell your Plenitude asap.
28/08/2018 3:20 PM
qqq3 the scariest is China



recent Bloomberg report on Chinese real estate noted that from June 2015 through the end of last year, the 100 City Price Index, published by SouFun Holdings Ltd., rose 31% to almost $202 per square foot. That’s 38% higher than the median price per square foot in the U.S., where per-capita income is more than 700% greater than in China.
28/08/2018 3:57 PM
Outliar @Jon Choivo

You should increase your exposure to Plenitude then.
28/08/2018 4:17 PM


 

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