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95 comment(s). Last comment by stockraider at Feb 28, 2020 11:09 PM
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kcchongnz
6656 posts

Posted by kcchongnz > Feb 24, 2020 5:45 PM | Report Abuse

As a matter of fact, you don't even seem to understand what you copy and paste from Investopedia.

And also, what you can get from investopedia is just some simplistic explanation, good as a guide only.


qqq33333333
2857 posts

Posted by qqq33333333 > Feb 24, 2020 6:18 PM | Report Abuse

kc chong...........results and decisions are a matter of habits and character...............some more stock market is not physics...............why do u waste your life away trying to be stock market sifus to others?




u no stress one meh?



be like KYY and me lah..................free as a bird, do what is u feel like doing, no responsibility, no headaches , happy go cycling..............


Philip ( buy what you understand)
4063 posts

Posted by Philip ( buy what you understand) > Feb 24, 2020 6:56 PM | Report Abuse

I thought this was what you have been doing all this while, copy pasting from sooner investment book without any real results of note.

I can show my understanding of intrinsic value by hire I buy stoneco, how I buy topglov, how I buy yinson, how I buy QL, how I buy gkent and how I buy PCHEM.

You only know how to write without any results to guide from.

Wasting time.

Let me know when you do finally start investing in the stock market.

>>>>>>>>>

kcchongnz As a matter of fact, you don't even seem to understand what you copy and paste from Investopedia.

And also, what you can get from investopedia is just some simplistic explanation, good as a guide only.
24/02/2020 5:45 PM


Sslee
4672 posts

Posted by Sslee > Feb 24, 2020 7:04 PM | Report Abuse

Dear Philip,
Quote, “Yes it is a number. It has served me well buying QL in 2009, and holding it through 2018,2019 and until currently 2020. I used qualitative models, scuttlebutt, governance, and target market figures to arrive at a figure for QL, which I deem to be currently fairly valued in 2020, and very undervalued in 2018.” Unquote
2018: QL RM 5 (Very under value)
2020: QL RM 8+ (Fairy Value)

For a different of RM 3+ (60% +) two years money? You ready to make war with Ricky Yeo, Choivo, CharlesT, KCChong and etc no end on valuation when you yourself wrote, “Some analysts and investors might place a higher weighting on a corporation's management team while others might view earnings and revenue as the gold standard”
Please consider yourself lucky that QL Founder and major shareholder Dr. Chia Song Kun have done an amazing job.

You should have given the money to qqq3 to manage, qqq3 wrote, “for genuine investors, 12 months money....there were at least a few dozen shares that gave 100% returns or more in last 12 months................ I am Kpower and scib kind of guy...............life is exciting and fast............”

Thank you

P/S: As of my writing to Tun Mahathir’s blog, I wrote to tell him about my feeling on the many ills befalling our beloved Malaysia with hope upon hope that somehow or somewhat I can make a different to heal the sickness and set our beloved Malaysia toward unity, justices and prosperity. I pray for my beloved Malaysia.


kcchongnz
6656 posts

Posted by kcchongnz > Feb 24, 2020 7:17 PM | Report Abuse

Posted by Philip (Can I advise you?) > Feb 24, 2020 6:56 PM | Report Abuse

"I thought this was what you have been doing all this while, copy pasting from sooner investment book without any real results of note."

Where do you find me copy and paste any Investopedia phrases likw you do without even understand it?

"I can show my understanding of intrinsic value by hire I buy stoneco, how I buy topglov, how I buy yinson, how I buy QL, how I buy gkent and how I buy PCHEM."

Those are the stories parts of it, the qualitative part. Yes they are equally important. But what are their intrinsic values that "I can show my understanding of intrinsic value", the quantitative part or the umber part of it?

I have shared scores of intrinsic value estimates for stocks in i3investor. Where and when have you shown any?

Ah, forget it, wasting my time. You don't even know what Intrinsic value means.


Choivo Capital
3632 posts

Posted by Choivo Capital > Feb 24, 2020 7:24 PM | Report Abuse

Phillip ah,

If you think QL can grow earnings per share by around 22% per year for the next 15 years. And lets say you value a company (with similar capital structures) that can grow 10% per year for the next 15 years at say 10 PE.

QL would be worth 50 PE.

Now, extraordinary claims require extraordinary proofs.

Thrill us with your acumen and educate us blind men, by sharing your research on this company, that you feel should be valued higher than Berkshire Hathaway, and even Google, Facebook, Apple etc.


Choivo Capital
3632 posts

Posted by Choivo Capital > Feb 24, 2020 7:27 PM | Report Abuse

Hahahaha.

How i wish i am an retiree, so that i can layan Phillip comments day and night. It sounds so fun.

====
Icon8888 He used to be Philips I Hope You Learn Something From Me Today
23/02/2020 1:32 PM


i3lurker
5321 posts

Posted by i3lurker > Feb 24, 2020 7:30 PM | Report Abuse

the term intrinsic value does not exist

intrinsic value requires a term called returns

returns like 0.001% pa ia also good

returns like 20% per annum is also bad

the term returns does not exist

is it return on money out/capital invested or inflation adjusted?

or is it unrealised returns locked inside the investee company?
when the share price has dropped 90%?

wat the fakk


i3lurker
5321 posts

Posted by i3lurker > Feb 24, 2020 7:51 PM | Report Abuse

Malaysia is doomed
coz
people order food coz its cheap, then throw it away

for every calorie of food thrown away,
it costs 10 calories of energy to put it on your table

you will be scolded (even by multi-billionaire) if you do it in Germany
here in Malaysia, when you do it, it means you have money, like carrying a Birkin bag.
Malaysians expect rich people to throw away food,
it is a sign of being cool and rich.

=> sign of a corrupt society....


P/S: As of my writing to Tun Mahathir’s blog, I wrote to tell him about my feeling on the many ills befalling our beloved Malaysia with hope upon hope that somehow or somewhat I can make a different to heal the sickness and set our beloved Malaysia toward unity, justices and prosperity. I pray for my beloved Malaysia.


enigmatic
862 posts

Posted by enigmatic > Feb 24, 2020 9:46 PM | Report Abuse

An Iron Man vs Captain America situation here.

Both sifus kcchongnz & Philip (Can I advise you?) are my most respected i3investor forumers here. Both sifus' approach are different yet yield superior quality returns over time. I believe they are sincere & have no malicious intentions.


enigmatic
862 posts

Posted by enigmatic > Feb 24, 2020 9:49 PM | Report Abuse

I only know of two kcchongnz's previous portfolios here. 2019 https://klse.i3investor.com/servlets/pfs/116402.jsp and 2013 https://klse.i3investor.com/servlets/pfs/13147.jsp


enigmatic
862 posts

Posted by enigmatic > Feb 24, 2020 9:57 PM | Report Abuse

https://klse.i3investor.com/blogs/kcchongnz/2016-12-25-story112453-2016_Christmas_Reflection_in_i3investor_com_kcchongnz.jsp & https://klse.i3investor.com/blogs/kcchongnz/2017-11-14-story-h1451644217.jsp I think these articles best represents kcchongnz.

kcchongnz certainly doesn't share merely for self-interest. He's educating i3investors. https://klse.i3investor.com/blogs/kcchongnz/2015-10-13-story84352-10_Dangerous_Myths_in_Bursa_kcchongnz.jsp


enigmatic
862 posts

Posted by enigmatic > Feb 24, 2020 10:02 PM | Report Abuse

All roads lead to Rome. There are certainly many methods of investing.

P.S. - I thought kcchongnz & Philip (Can I advise you?) both came from the university of Ilmu Puncha Kemajuan?


Philip ( buy what you understand)
4063 posts

Posted by Philip ( buy what you understand) > Feb 24, 2020 10:09 PM | Report Abuse

It's ok, I would rather be amused by how you say you are a long term investor, but then proceed to buy and sell rcecap at highs and lows, then buy again at highs, oblivious to your original qualitative analysis on the risk profile of rcecap, but again blinded by the quantitative side (the greed part when you saw increased revenues and profits). Or do you have another RM5,000 research article on a stock idea coming up?

But at least, you do try to keep a semi honest portfolio of returns. AS you do know the importance of having a portfolio to match your articles.

https://choivocapital.com/2019/12/29/2019-fund-update/

kcchongz knows this is important, because he keeps repeating lessons from warren buffet instead of some indian guru teaching value investing in delhi.

I struggle to explain this important fact to him, but he doesn't seem to get it.

however, having xx xx as a investment item with percentage does nothing for your reliability. Or your returns. Which I do believe is semi honest.

However, I also once knew a guy named madoff who had 10-12% returns consistently over a 17 year period
https://bespokeinvest.typepad.com/bespoke/2008/12/if-you-ever-see-a-chart-like-this-run-away-fast.html

so, no one really knows your results as well.

Is it one big lie as well? Well,at least we can monitor your long term results from investments in timecom and petronm, which apparently you said is your biggest weightage (but dont really know really).

Still, honesty is far more important character in an investor.

Except for new zealand guy. I think it is high time I stopped replying to academicians with no stock picks.


>>>>>>>

Posted by Choivo Capital > Feb 24, 2020 7:24 PM | Report Abuse

Phillip ah,

If you think QL can grow earnings per share by around 22% per year for the next 15 years. And lets say you value a company (with similar capital structures) that can grow 10% per year for the next 15 years at say 10 PE.


Philip ( buy what you understand)
4063 posts

Posted by Philip ( buy what you understand) > Feb 24, 2020 10:22 PM | Report Abuse

Appreciate it very much enigmatic. Finally thanks to the eager efforts of the internet, I have more information on the various gurus on i3.


SSLEE - insas, xinquan, hengyuan, dayang. You can see he is learning his way, slowly improving his investing methods, slowly moving from just low PE high NTA stocks (property counters), going towards businesses that grow profits and earnings yearly. I'm thinking he will soon realize the stocks choices he chose not to make versus his insas holdings will be a drag on the most important commodity: time.

Choivo Capital - hengyuan, timecom, petronm, rcecap, abmb, etc etc. He writes many articles, but buys just as much stocks. You can see he is trying to learn by process of elimination, diversifying to minimize his losses (and also his profits). He is so happy to get his first 100% stock return (but regrets that he puts so little into it).

Icon8888 - ecovest warrants, jaks warrants, bumi armada, lctitan. Contrarian gambler, you can see he likes to be called a contrarian. Whether he makes money or not, he doesn't care.

stockraider - gambler. his gambling push on insas warrants and sapura energy and emotional rants show a interesting form of internet addiction.

Calvintaneng - penny stock pusher. Writes articles on 40+ stocks per year, hides those that didn't work out, promotes the hell out of those that does.

qqq333 - london biscuit, vitrox, serba dinamik, kpower. Speculator buying on attitude. He says he makes money, I like the attitude. I wish I knew his volume, date of purchase and date of selling so I can see if attitude works.

3iii - dlady, nestle. long term holder of wonderful companies (you only need 3 in life). His replies and lack of emotional angry responses, shows someone who doesn't need to gamble or buy a huge bucket of stocks. Either a lucky investor or a good one, it doesn't matter as long as you make money.

kcchongz - luckily thanks to enigmatic (appreciate your effort), i finally have some of his stock picks.

https://klse.i3investor.com/servlets/pfs/13147.jsp, with a good portfolio tracker too.

Why the 10 stocks above? Of course that is because I think they present value. I had others too like SP Setia, Johore Tin, Scientex, Padini, Zhulian, Freight, Coastal Contracts, icap etc but I have sold them just recently, trying to reduce my investment in the market.

he even has a glowing commentary on the stocks that he sold and those that he bought.

Wow, no wonder he was shy to share his portfolio returns. from 2013 onwards, he sold scientex to buy jobstreet, johore tin to buy plenitude.

kcchongnz I have to reiterate that the 6-9 months of the good performance posted is too short a record to boast about. It could very well be due to luck. Really the measurement of successful investing does not just based on a short-term of seven months performance. Investing to me is a long term endeavour. So we have to look at the more important long-term return. So how to measure the long term performance of your portfolio?

Table 1 below shows the performance measurement of my portfolio for one to five years. Again this is just for discussion purpose. I hope others do not construe this as a self bragging exercise. Some of the stocks only have prices of 2-3 years as they are either only listed 2-3 years ago, or data is not available from the Yahoo website.
Table 1: Stock prices 1-5 years

kcchongz used to agree with me, I am sad that he no longer does.

He did get one thing right. His results are the very much due to luck.


qqq33333333
2857 posts

Posted by qqq33333333 > Feb 24, 2020 11:10 PM | Report Abuse

u don't agree with me meh?

right attitude at right time makes a lot of money..............give u the best idea in the world, buy little bit makes a little bit only..............


qqq33333333
2857 posts

Posted by qqq33333333 > Feb 25, 2020 12:51 AM | Report Abuse

me? I have decided long ago, this forum is a platform for entertainment for me....and maybe collect some information.

If people want to think about what I write, good for them...If people ignore what I write...also fine for me..........

I am not here to make anyone rich (or poor).

mostly I think all internet sifus are rubbish....and stock market is not about intelligent or smartness.......at the end of the day it is all about attitude.............


ps...I am happy with my attitude that help me to buy a lot of SCIB and Kpower recently.........but I have also seen my paper profits on SCIB and Kpower shrink by a lot also in recent days...................it is the shame attitude.............can never be perfect one..............


Philip ( buy what you understand)
4063 posts

Posted by Philip ( buy what you understand) > Feb 25, 2020 8:06 AM | Report Abuse

On this I agree 100%.

Those who have the ability to make stocks in the market don't need to make money ( or time) by selling classes. None of the real investors did. Charlie was a lawyer. Warren was a stock salesman at Falk and then a professional analyst at Graham Newman before starting his partnership.

Obviously to get outside investments he has to show his returns and put money where his mouth.

The question remains the same, if you are so good that you can charge money teaching how to stock pick, why don't I just give you my money to invest and you get a proportion of the profits? Very few actually can make outsized returns and use vague concepts like ( helping you save money and reduce losses), instead of helping you choose winners.

As for stock market, I agree you don't have to be a rocket scientist, but the most important criteria is being RATIONAL. Doing rational things means choosing profitable companies and growing companies, investing more as it grows. Being rational during crisis, not selling just for the sake of selling or buying just for the sake of diversification ( diworsification). A lot of these do not require Monte Carlo simulations or writing complex formulas and branching patterns. Being able to rationally ( not looking for confirmation bias) understand the future prospects of a company, why management does things in a certain way, a rational mind if far more important than smartness or intelligence.

>>>>>>>>>

mostly I think all internet sifus are rubbish....and stock market is not about intelligent or smartness.....


Sslee
4672 posts

Posted by Sslee > Feb 25, 2020 9:13 AM | Report Abuse

hahahaha qqq3,
Very soon your shrinked paper profit will become paper loss. Choivo is still the smart one selling his PPHB for 100% gain.


popo92
559 posts

Posted by popo92 > Feb 25, 2020 11:37 AM | Report Abuse

Philip, don’t be too harsh on kc. I still have great respect for him teaching very basic fundamental and spending so much time writing so many useful stuffs for beginners. Yes he may not prove he’s a great investor who make tons of money but he doesn’t need to prove he’s one. It’s his choice. Whether he’s an average or shrewd investor, he don’t deserve be to critised after all.


qqq33333333
2857 posts

Posted by qqq33333333 > Feb 25, 2020 11:41 AM | Report Abuse

Posted by Sslee > Feb 25, 2020 9:13 AM | Report Abuse

hahahaha qqq3,
Very soon your shrinked paper profit will become paper loss
=========


two years money to double from here....too bad I am not a long termer.........


qqq33333333
2857 posts

Posted by qqq33333333 > Feb 25, 2020 11:57 AM | Report Abuse

by popo92 > Feb 25, 2020 11:37 AM | Report Abuse

Philip, don’t be too harsh on kc.

====

what u don't realise is the best way to learn some thing is to learn
the exceptions to the rule.....the best way to learn how a machine works is how it breaks down.................and yes, the most assured way to lose money in stock market is to follow some mechanical rules.........


so what is intrinsic value? U buying over the whole business? u doing a take over?


u read enough research reports , u know 90% of the time............the intrinsic value of the analyst is within +- 10% of the share price................meaning, he has no idea, don't know...........hahahahaha............analysts not enough tools and formulas meh?


Sslee
4672 posts

Posted by Sslee > Feb 25, 2020 12:17 PM | Report Abuse

hahaha,
qqq3 just tell me have you ever sell any stocks for 100% gain?


Kean Leong Wong
23 posts

Posted by Kean Leong Wong > Feb 25, 2020 12:26 PM | Report Abuse

i think discipline is important. I think a suitable position in asset alloacation: i.e/ equity vs bond/finxed income is the key success in portfolio managment. To pick the right stock is not difficult. There are plently of good stocks out there; if not in malaysia, there are million of listed companies in the world. Does anyone think on question that when market crashed, do you still have the cash position to buy more..warrant buffect is doing that now?


qqq33333333
2857 posts

Posted by qqq33333333 > Feb 25, 2020 1:00 PM | Report Abuse

Sslee > Feb 25, 2020 12:17 PM | Report Abuse

hahaha,
qqq3 just tell me have you ever sell any stocks for 100% gain?

==============


there was once I make 500% in a week .................$50,000 profit many many years ago.............


Sslee
4672 posts

Posted by Sslee > Feb 25, 2020 1:37 PM | Report Abuse

haha
qqq3, Bursa day limit up is 30%. So if 5 trading days limit up equal
1.3 X 1.3 X 1.3 X 1.3 X 1.3= 3.71 or 3.71 times.
Still remember what is the stock name?
Need to check are you telling the true.


Philip ( buy what you understand)
4063 posts

Posted by Philip ( buy what you understand) > Feb 25, 2020 1:40 PM | Report Abuse

I totally agree. And I would not have said anything, except that for someone who is supposed to teach fundamental lessons, he finds the gall to comment heavily on i3 forum on dayang, eversendai, ql, kyy and myself for great stories.

But, if his investment methods were really good I would totally follow his analysis.

But I guess it is hard to find a good teacher out there.


>>>>>>>>>

Posted by popo92 > Feb 25, 2020 11:37 AM | Report Abuse

Philip, don’t be too harsh on kc. I still have great respect for him teaching very basic fundamental and spending so much time writing so many useful stuffs for beginners. Yes he may not prove he’s a great investor who make tons of money but he doesn’t need to prove he’s one. It’s his choice. Whether he’s an average or shrewd investor, he don’t deserve be to critised after all.


qqq33333333
2857 posts

Posted by qqq33333333 > Feb 25, 2020 1:46 PM | Report Abuse

ss....many many years ago the rules allow 2 limit ups in a day..............


Sslee
4672 posts

Posted by Sslee > Feb 25, 2020 1:51 PM | Report Abuse

Dear Philip,
Don't be so petty, I with not result to speak of also comment heavily on KYY, Icon8888, Choivo and in Tun M's blog. After-all this is open public forum, everyone are welcome and the more the comments, the more the merrier.


Sslee
4672 posts

Posted by Sslee > Feb 25, 2020 1:57 PM | Report Abuse

haha qqq3,
If many many years ago, you are able to make 50K profit in one week then you must have also losing back a lot until you only with 200k to invest.


qqq33333333
2857 posts

Posted by qqq33333333 > Feb 25, 2020 2:31 PM | Report Abuse

me? my story very long and complex..........


every thing also done before......except I am not a long termer..........I am a trader.............


stock market...........all about attitude.


qqq33333333
2857 posts

Posted by qqq33333333 > Feb 25, 2020 2:35 PM | Report Abuse

people in this forum like to look down on traders..........nothing to look down on...............its all about attitude...............


i3lurker
5321 posts

Posted by i3lurker > Feb 25, 2020 2:41 PM | Report Abuse

people dun look down on traders

you look down on yourself


Sslee
4672 posts

Posted by Sslee > Feb 25, 2020 2:43 PM | Report Abuse

haha qqq3,
No one look down on traders, not me. I actually interest to know what is your strategy in trading?
Once I try to trade with Pchem every 50cents drop I buy a batch and once I have overall profit of 15%+ I sold its for profit. I actually profited a few times.


popo92
559 posts

Posted by popo92 > Feb 25, 2020 3:35 PM | Report Abuse

I guess he’s still good at quantitative analysis teaching. But beyond that, I am not sure. Your philosophy on qualitative investing is what I really like about. I have read many comments on you elaborate your thoughts on many companies. Quite through and through to be honest. Kudos to all altruistic sifus sharing.

Posted by Philip ( 屁股翘翘!! ) > Feb 25, 2020 1:40 PM | Report Abuse

I totally agree. And I would not have said anything, except that for someone who is supposed to teach fundamental lessons, he finds the gall to comment heavily on i3 forum on dayang, eversendai, ql, kyy and myself for great stories.

But, if his investment methods were really good I would totally follow his analysis.

But I guess it is hard to find a good teacher out there.


popo92
559 posts

Posted by popo92 > Feb 25, 2020 3:43 PM | Report Abuse

qqq33333333 sifu, sorry I couldn’t understand the connection of comments between ours. But I 100% agreed with your comment haha
———————————————————————

by popo92 > Feb 25, 2020 11:37 AM | Report Abuse

Philip, don’t be too harsh on kc.

====

what u don't realise is the best way to learn some thing is to learn
the exceptions to the rule.....the best way to learn how a machine works is how it breaks down.................and yes, the most assured way to lose money in stock market is to follow some mechanical rules.........


so what is intrinsic value? U buying over the whole business? u doing a take over?


u read enough research reports , u know 90% of the time............the intrinsic value of the analyst is within +- 10% of the share price................meaning, he has no idea, don't know...........hahahahaha............analysts not enough tools and formulas meh?


qqq33333333
2857 posts

Posted by qqq33333333 > Feb 25, 2020 4:28 PM | Report Abuse

sslee...scib up 13 sen..........u either trust the real money , up 13 sen..........or trust some formulas called intrinsic value which has no real money attached.

fengshui can cheat u for 10 years, intrisic peddlars also can cheat u for 10 years ...................


Sslee
4672 posts

Posted by Sslee > Feb 25, 2020 4:59 PM | Report Abuse

haha qqq3,
In the short run, the market is like a voting machine tallying up which firm are popular(K factor)and unpopular. But in the long run, the market is like a weighing machine-assessing the substance of a company.
So no worry the next day SCIB will drop 13 sen.


untong
44 posts

Posted by untong > Feb 25, 2020 5:27 PM | Report Abuse

hahaha this is classic fighting between numbers and narratives person
kc 70% number, 30% narrative
icon 50% number, 50% narrative
choivo 35% number, 65% narrative
philip 10% number, 90% narrative

i dont know why so many people have qualms on QL's PE.. (maybe philip face problem ;P)
in fact the last time he bought QL was 6.80, which has rise 20% to today's price 8.40.
6.8 was deemed undervalued, 8.40 is considered fair value, so he bought with about 20% mos in mind. Although i personally hope he can share his latest version of Intrinsic value on QL (last time shared was about 15-25), but when come to think about it, he don't have to, and it make little value add to the discussions, because when the narratives about a company change, its intrinsic value change. See this;
http://people.stern.nyu.edu/adamodar/pdfiles/country/narrative&numbers.pdf


untong
44 posts

Posted by untong > Feb 25, 2020 5:34 PM | Report Abuse

For example; Uber;
some view it as car service company, then there is Intrinsic value A
some view it as car ownership company,/ logistic company/ payment apps etc; then there will be Intrinsic value B/C/D/etc

So to me what is valuable opinion about a company is; what is the company look like in his mind, towards the future, not just a set of numbers, PE, growth yoy, ROE, etc
Then only we try to relate to the intrinsic value following these 3 rationality tests;
Possible? Plausible? Probable?

Lets look back at QL;
Possible? Why not, they are in Vietnam, Indonesia, Malaysia, first two market are very populous, with low egg consumption, etc

Plausible? in simple words, is the company doing right things to get there
here comes the iron triangle of value narratives, between growth, risk and reinvestment
1) is the company reinvesting enough given their growth? seems yes
2) is the company taking risks reflective of how much and where they are growing?
i don't know
3) is the risk company taken consistent with their reinvestment strategy? i don't know

Probable?
here is the last part to get to Intrinsic value, the DCF is a better tools here,because_PE_tells_little_about_what_price_is_good_entry_price_as_the_PE_always_change_and_there_is_no_close_comparison_from_the_competitors


Sslee
4672 posts

Posted by Sslee > Feb 25, 2020 6:33 PM | Report Abuse

Haha
I like what qqq3 wrote, "so what is intrinsic value? U buying over the whole business? u doing a take over?”

So if you go to the bank and tell the bank I want 100% loan to buy over QL, do you think the bank will lend you the money?

Or the bank will lend you 100% if you say you want to buy over INSAS?


qqq33333333
2857 posts

Posted by qqq33333333 > Feb 25, 2020 8:16 PM | Report Abuse

osted by Sslee > Feb 25, 2020 4:59 PM | Report Abuse

haha qqq3,
In the short run, the market is like a voting machine tallying up which firm are popular(K factor)and unpopular. Bu
==========


un-testable hypothesis unless u put a holding period to it...........is that why it is such a popular statement?

no holding period...any statement also can be right..........


Philip ( buy what you understand)
4063 posts

Posted by Philip ( buy what you understand) > Feb 25, 2020 11:06 PM | Report Abuse

Sadly, I just cannot tahan when someone professes to know what is intrinsic value, and yet holds this basket of stocks.

And he says I don't know a thing about intrinsic value...

I know that intrinsic value is the price a rational investor is willing to pay for an investment, given its level of risk.

Why does the market value ql at pe60?, Amazon 87? Salesforce 198? Tesla ?

You can say that the market is wrong. That it is overvalued bla bla bla. That is another question for another day.

The qualitative question here is why does the market value these companies at high pe ratios?

The answers are simple.

1. They hold a dominant position in the industry that is hard to break. Many have tried. But these companies keep on taking market share, brand recognition, growth.

2. They have been growing cash flow, revenues, earnings for years and years. Reinvesting back into the business because the total addressable market is huge. They h

3. While others are losing money, losing customers, shrinking profits these companies keep on growing and growing and growing.

4. These companies by its nature is in a very safe and monopolistic industry. It's history of share price growth begets a history of share price safety. Companies with swings in volatility of price action and
profits rarely have a consistent growth in PE.

PRICE IS WHAT YOU PAY. VALUE IS WHAT YOU GET.

Imagine selling Amazon, Tesla just because the share price has gone up and picking say Walmart or Faraday future just because the pe is low. Why? Unlike in accounting land, in the real world, a company with low pe can go even lower ( or lose money), while companies with high pe can normalize ( due to margin expansion) or go even higher ( due to market performance).

Never look at share price as a measure of success. Look at the business itself to drive growth.


>>>>>>>>>>

kcchongz - luckily thanks to enigmatic (appreciate your effort), i finally have some of his stock picks.

https://klse.i3investor.com/servlets/pfs/13147.jsp, with a good portfolio tracker too.

Why the 10 stocks above? Of course that is because I think they present value. I had others too like SP Setia, Johore Tin, Scientex, Padini, Zhulian, Freight, Coastal Contracts, icap etc but I have sold them just recently, trying to reduce my investment in the market.

he even has a glowing commentary on the stocks that he sold and those that he bought.

Wow, no wonder he was shy to share his portfolio returns. from 2013 onwards, he sold scientex to buy jobstreet, johore tin to buy plenitude.


stockraider
20983 posts

Posted by stockraider > Feb 28, 2020 11:03 PM |

Post removed. Why?


stockraider
20983 posts

Posted by stockraider > Feb 28, 2020 11:09 PM | Report Abuse

Answer short term stock is voting machine, longterm it is a weighing machine....if u over pay...it run the risk of crashing in the long run loh...!!

Posted by Philip ( Icarus) > Feb 25, 2020 11:06 PM | Report Abuse

Sadly, I just cannot tahan when someone professes to know what is intrinsic value, and yet holds this basket of stocks.

And he says I don't know a thing about intrinsic value...

I know that intrinsic value is the price a rational investor is willing to pay for an investment, given its level of risk.

Why does the market value ql at pe60?, Amazon 87? Salesforce 198? Tesla ?

You can say that the market is wrong. That it is overvalued bla bla bla. That is another question for another day.

The qualitative question here is why does the market value these companies at high pe ratios?

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