Opening
Ever since I started posting on I3, I met quite a few people in real life. Some traders, some investors, some a mix of both, all of which are good people. And sometimes, I manage to meet someone who is truly amazing and teach me a few things.
For the most part, if they are an investor, often time we match up quite well, and I learn certain things, but nothing major. No surprise there. Not because i'm particularly brilliant or anything, but because we drink from the same sources.
There is few things on investment one can learn beyond Warren Buffet, Peter Lynch, Phillip Fisher, Charlie Munger, Seth Klarman, Benjamin Graham, Walter Schloss etc.
However, i also met a trader on I3, who is truly a cut above, both in terms of his thinking and his results. And I can’t tell you how hard is it, to meet a trader who has a clear mind and is intellectually honest.
To be honest, I think I’ve learnt the most from him (when it comes to meetups), compared to everyone else. Mainly because we think so differently, and have such different experiences, and yet somehow, we can understand each other because we try to be as intellectually honest as much as possible.
Background on the trader
Like me, he is also 26, and like me, we both started from relatively small capital. The difference is that he started trading since 19. And his results is far, I mean far far above mine and anyone else I know.
He started with less than RM20,000 in 2011. And up until 2015, he obtained returns of roughly 30% per annum. In 2015, he started working, and basically put all his earnings in. In 2016, he got returns of 100% and in 2017, he got returns of roughly 500%. In 2018, he is up about 10% plus.
In essence, he turned less than RM70,000 in net capital to almost RM750,000 in 7 years. He did not keep accurate results in terms of fund units. That is CAGR is at least 40% per annum. It’s likely much higher than that as he put in a significant portion of the capital late, and that capital got 200% and 500%.
And to top it all off, he did it with zero margin. There is some luck, but his alpha is still very clear for me.
We started speaking on whatsapp since last year, and it’s only the last week or so that we manged to sit down and talk properly for a few hours.
The conversation
I thought a lot of how to structure this post, and I think the best way is to do it like a conversation. It is not exactly how the conversation went, I edited heavily for clarity and relevance. As well as adding in some of our whatsapp conversation that I think is relevant.
I try to structure it by topic, and well, I hope it is as useful to me as it was to you. Its not the best formatting, as the conversation was quite wide ranging and we jumped from topic to topic very often.
Jon: All right, tell me roughly how you do you trade? Personally, I’m really curious about your thought process when you trade. I remember in March and April this year, when I was at one point down 25%. It didnt feel good.
I remember that completely wiped off all my previous return and more. And I wondered, what was I doing? I did things that were logical to me and people who's thought process I respect.
And despite studying so much, my paper losses made everything seem like a waste of time. Luckily, I had the mind to trust my process, to hold and continue buying and averaging down.
I’m surer now, but that was definitely the point when i wondered if I should try trading again.
I remember asking you then how you traded then, so how do you do it again?
TTT: Well the principle is relatively simple. I trade companies I like, in terms of fundamentals and valuation, using technical analysis.
I focus a lot on finding sudden and explosive earning, that can last preferably a few quarters, and in terms of valuation, prefer PER of less than 15. This however changes depending one earnings.
I also try and read the sentiment and expectations of the market and act accordingly. This one is probably harder to explain and just require experience.
I have a cut loss of 15% and I use zero margin. Sometimes I go past the cut loss, but not by far.
Jon: Alright. The moment you said technical analysis to me, even when we first met, I almost decided not to take you seriously at all. Hahaha
Technical analysis is a waste of time. It’s like trying to predict the weather, its only roughly accurate in very short term, and even then it’s not that accurate either, it only makes sense in retrospect.
Like religion, I could never find anyone who can defend or articulate it in a logical manner.
And it only works in bullish markets, in bear or recession, it’s absolutely useless.
TTT: Well, you are right. TA makes absolutely no sense.
The price of a stock logically have no relation to the past. Past movements of the stock mean nothing. The future price is based on the fundamental earning change.
Having said that, in a rising market TA does work. I mean, I’ve used it very successfully for the last 7 years.
Jon: That must be quite difficult. How do you use something illogical in a logical manner? Hahahaha.
I mean, it works until it does not, and when it does not you get murdered, as we can see very clearly in March to May. The sheer amounts of complaints OTB got is insane. It’s very clear that most was probably at least 30 plus percent down.
How do you make sure you do not get your balls chopped off during the downturn?
TTT: Hahaha. Well, I have a cut loss, which I stick quite closely to, and I only trade during times when sentiment is good.
Jon: Well, how do you determine when sentiment is good?
During the 2008 crisis, they were 3 times on the way down, when one could think that sentiment is improving and consolidation is over and ready for breakout.
Using your cut loss at 15%. Assuming you followed it very very strictly, and cut exactly at 15%, and that you are able to do it, with the price does not blow past your cut loss. You are still looking at a loss of roughly 40%. After the third drop..
How could you possibly find it within yourself to buy again when it was at the very bottom?
TTT: Well, like I said I have a cut loss, and I only trade when sentiment is clearly positive.
Jon: So I’m guessing when sentiment is bad, you hold cash? How many percent did you hold around March to May?
TTT: Well they range, but most of that time, I held 85% cash.
Jon: Well, if you were to study the percentage of cash to index movements. People tend to hold maximum cash when the prices were absolute lows, and minimum cash when prices were absolute highs.
That is clearly the opposite of what people needed to do. And historically and statistically, those who held the least cash, and put the most to use during those times, are those that made the biggest money. How do you make sure you make the big money?
During the big drop in March to May, I remember telling you prices were too cheap, and for example Liihen was 2.2, LionInd was like 0.6 ish in July, and a couple more.
You were asking me if you should buy last week when Liihen was like RM3, or Lionind was like RM1.1. Clearly the timing is completely off.
One of the most expensive things in investing is comfort. Selling stocks in a bull market is very uncomfortable. And so is buying stocks in a market that is nose diving.
However, these are the right things to do. And it's always in retrospect that one really realizes that.
There is always natural inclination to want to wait till the future clears up a little, for current uncertainties to resolve. There's a certain comfort that comes from the consensus of many others.
However, a cheery consensus and a large number of other intelligent people making the same investment choices as you almost mathematically insures that you'll do the wrong thing at the wrong time because prices now reflect at consensus.
Low risk, high uncertainty situations are the friends of a buyer of long term values.
TTT: Well, you are right. Having said that, in hindsight it was the right move, but a crisis might have very well happened, and I may turn out to be right.
Having said that, my strategy means I need to be ok with not making the big money, in exchange for making the easy money, the ones based on momentum or sentiment.
Jon: Ok, that is interesting way to look at it. I've never heard it put that way before.
Do you use cut loss? I mean you know my perspective on it. I think it’s completely stupid and illogical.
Cut loss is like having a real estate agent coming to your house and saying “There is an offer for your house of RM600,000”. And you reply saying “I’m not interested, but if someone ever offers RM500,000, please sell it, and the lower they offer the harder you should try to sell”.
TTT: You are right. But you are investing. I’m not, I’m trading.
Jon: Your gambling and speculating you mean? I know it sounds dirty, but i dont mean it that way. I do
enjoy poker, and I do gambler in those scenarios, or in Dota Games or elections, ahahahaha.
You are gambling or speculating intelligently?
TTT: Yeap, I am gambling, and when gambling, cut loss is key.
Jon: In 2015, in the US, a lot of investors put cut loss, and during the flash crash, they literally saw their cut loss blown past and their stock being sold at incredibly stupid prices. And in literally less than half an hour later, they saw their sold stock rise far above the cut loss price.
This was also what happened in the 1990’s flash crash, when portfolio insurance was the hype.
How do you make sure this does not happen?
TTT: Well, my cut loss is usually a lot less than most, in addition, most of the times, I don’t actually put the cut loss in my trading software. Having said that, my capital is still small, so I’m fairly certain I can still make it.
Jon: That’s a little sloppy. Hahahaha
TTT: Yeah.
Jon: Let’s talk through your biggest trades, HengYuan and JHM. I think they cover most of your trading style. What was your sizing?
TTT: Well ok. For JHM and Hengyuan, when I started that round my capital was about 150k-200k. For those, I really sailing, I had up to 75% in one stock some times. Yeah it was damn risky, these days I usually put 15-20% max, but back then I was damn aggressive.
So for the JHM, basically I rode it up during that 3 to 4 quarters where earnings exploded. I traded by selling the tops and buying the bottoms, usually ill make like 5% to 10% each round. I got out of the position at some point when it became too high. It was then Hengyuan came up.
For Hengyuan, I saw Icon8888 article, and OTB made his recommendation in the subscription. I bought around RM7-9, close to 75% position, and I traded the tops and bottoms. I dropped the position by about 20% at RM11 to Rm12. Another half at RM14 to RM15, and sold all by RM17.
Jon: OK, I’m not too familiar with the JHM movements or story, but im more familiar with Hengyuan, in any event, its more exciting anyway.
The main thing that I want to ask, is how do you maximize your return? You sold 20% at RM11 or RM12, didn’t you feel any regret when it went up to RM14 to RM15, and When you sold some at RM14 to RM15, didn’t you feel regret or stupid when it went up to RM17? And same thing when it got to RM21?
I mean you see the comments on the forums, where they keep saying should have held longer or I should cut loss, where the right or wrong decision wholly depends on the outcome and not the thought process.
How can one even make logical decisions in that scenario or with that way or thinking?
TTT: Well, for me. I am very clear that I am gambling and speculating. So for me, it’s like a bonus each time I sell at a higher price, and I don’t aim to make every dollar, but the safer ones.
I know it’s not worth that fundamentally, so I try to sell in batches to optimize abit the return, but once I sell, I don’t regret or look back. Though to be fair, I did rebuy at RM7 to RM6 and resold when KYY fired, but I generally waited.
I mean I did get tempted at RM13, but I didn't buy in the end.
Jon: That really interesting to me. One thing I noticed is that, you seem to have a very clear understanding of what you’re doing. You don’t mix between investing and speculating. Most speculators tend to think they are investors, and speculation that went bad, turned into investment in the long term, compounding the mistake.
Having said that, didn’t you lose a bit in MYEG, when you bought at the second limit down, and didn’t manage to sell when it dropped the next day. But you managed to sell during the rebound. Why did you keep for the rebound instead of just selling.
TTT: Well, I was away from my computer, it dropped too fast, and by the time I was back, it was far past the 15%. It wasn’t that big of a position, only about 15% but still kind of sucked. I just decided to wait it out based on a gut feeling.
Jon: Haha, it’s really hard to differentiate the luck and the alpha, I mean in Muda you almost got chopped, you bought early and sold literally the day before the result that gave the limit down.
TTT: Yeah I guess. For that I sold as I felt expectations was too high before the results. The result was correct-ish, but forex whacked. So before, I needed to take into account unknown factors in my calculation of proability
Jon: One of the things I found interesting, is how you didn’t use margin. I mean, most traders use margin, and like the stockraider argument, it only cost 5%, given you CAGR of probably higher than 40%, why didn’t you take it?
TTT: Well, I prefer learning from other people’s mistake. And listening to people speak about crisis in hong kong etc, its clear that margin is the problem. If I had margin when I started, I think I would have lost a lot of money due to calls.
Jon: What is the risk for you? For me it’s the ability for someone else to sell your stock, at precisely the moment I don’t want to, that is a huge risk for me.
TTT: Yeap exactly that. Also, it can be really tempting to sailing in stocks when it’s really cheap on margin, but in recession, it can drop from RM7 to RM2. You think its cheap, you sailing, and it drops to RM1 and wipe out your capital. Just too dangerous.
Jon: One thing im curious about is this. One of my motto's in life is, "If you dont attempt to manipulate others, you cannot be manipulated"
Put in the context of relationships. Guys who complain about being used by a girl for free drinks, lunch dinner etc. Are often guys who are trying to manipulate a girl into a relationship with him via those things instead of just being honest and straightforward. And because of this, she is able to manipulate him into giving her those things via the mere possibility of sex. Because she never had to say "yes" or "no", but just maybe.
While girls who complain about guys who just sleep with her, while keeping her on a string in terms of the possibility of a relationship. Well, they were trying to manipulate the guy into a relationship by sleeping with him. And him knowing this, is able to manipulate her into sex, with just the possibility of relation. Because he never had to say "yes" or "no".
Likewise, in trading. The only way you can lose money trading sentiment etc, is by trying to make money trading sentiment. The only way you can lose money in a bubble is by trying to make money via a bubble.
How do you make sure you are not the one being played by others while trying to play the other person?
TTT: Well, i try to be less greedy. And to be honest, its always worked for me.
Jon: Why not be the least greedy and not do it at all? Hahahaha
TTT: Hahahahaha
Jon: Do you have any plans to do investing? I mean we spoke a lot on this on whatsapp, one of the pick you were talking about for medium term investment is Layhong. Prices have dropped a bit lately, and you actually knew it would drop, at one point, it was actually more than 10% positive for you. Why didn’t you trade.
TTT: Well this one is a medium term investment, so im not to trading it.
And that is it. We spoke a lot more on a couple more topics, but that would be too wide, random and long a piece. Having said that, he has one of the sharpest and clearest mind in I3 for me. A real rarity.
How does one trade for income, invest for the future, and be able to buy more when a recession comes?
While I was in Johor, I also met another investor. He is able primarily a trader, but has a significant investment tendencies and ability.
He too has a fairly decent return and a fair decently sized portfolio (triple mine probably). I asked him, why do you feel such an urge to trade when you know investing for absolute return is the best way and your capital is more than enough.
He said, “Well, I have three children, most of my salary goes to feeding them family and keeping a roof over their heads and a car, so any additional income and growth in capital needs to come from my investment/ trading portfolio.”
According to him, he has a main cash portfolio, and a margin account backed by FD. One of his main concern is that how does he make money from trading without risking too much capital, and how does he still be able to have the cash to invest during a crisis, when he can save so little?
We discussed for a while, taking into account the methods of my top trader friend and this is the solution we came up with.
Portfolio management for a trader/investor.
Conclusion
I hope this was as useful to you, as my conversation and discussions with these people were. Good luck.
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Facebook: Choivo Capital
Website: www.choivocapital.com
Email: choivocapital@gmail.com
Created by Choivo Capital | Dec 09, 2020
Created by Choivo Capital | Dec 05, 2020
Created by Choivo Capital | Nov 09, 2020
Created by Choivo Capital | Nov 09, 2020
Created by Choivo Capital | Nov 03, 2020
I've read every single letter from buffet from 1955 to 2018. And every step of the way, from USD 19 per share to USD300,000. Even when his capital is small, he never took undue risk.
What is being conservative?
For me, it means to only invest if you're sure of what you're buying. If you actually understand the economics and the valuation. If you know for a fact that you are buying RM1 for RM0.5 or less.
I take risk and am adventurous only when i know i am paid well for it.
You know funnily, i actually invested RM15,000 for a 5% stake in a small singaporean company when it was starting out. That was most of my capital then. In terms of valuation, it was useless then.
But i knew the boss, i knew the market, and i knew the economics of the business, and i figured, this guy can make it work.
For the last two years, it has paid me RM15,000 each year in dividend.
I think if i were to sell that stake, should be a significant sum. By far my best investment tbh ahaha.
I am willing to take almost any risk, as long as i'm understand what im getting into, am paid well for it, and i can stomach the size.
Warren buffet, his company now, insures the kind of risk no one else dare to insure. Multibilion dollar hurricanes, earth quakes, terrorism, micheal jordan legs.
Is he conservative or adventurous?
You need to revisit and study again your definitions and thinking.
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Icon8888 > Aug 25, 2018 01:39 PM | Report Abuse
The biggest weakness of Baby Jon is his conservativeness. Always pick stocks like retirees. (Read too many warren Buffett books).
if you are 26 yo be more adventurous lah. It is time to take risk and grow. Acting like warren buffett makes you feel good but doesn't put money in your pocket
2018-08-25 20:27
And one Jon Choivo.
When Warren was only managing a USD15mil co, he was pretty much the same as managing a USD500bil company. Except, he had much more options before then.
I am like a mouse now, i can look into very small caps that people cannot buy.
You don't change your thinking and philosophy just because you are small. But by being small, you have alot more options. that is it.
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Posted by Apabagus > Aug 25, 2018 08:25 PM | Report Abuse
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.
2018-08-25 20:31
If i tmr sailang into in Sapura Warrant.
And suddenly saudi arabia say will give loan to SAPURA ENERGY, no need right issue. And i didnt know it, but i just got damn lucky.
Warrant up 1000%.
Am i genius now or win lottery?
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Posted by Alex™ > Aug 25, 2018 08:30 PM | Report Abuse
Baby jon still don't get it. Talk talk talk~
Produce result then we talk
2018-08-25 20:32
Baby Jon is like the average jon I met in real life. Read / watch few Jack Ma shits and start to preach. Lol.
2018-08-25 20:33
Baby after reading a few books think he can fight a war.Even veteran like 3iii also no one give a damn.Oops,it's time to change diapers for baby jon!
2018-08-25 20:37
If only ma... Probablistic decision... Your call... If pokai don't blame ppl.
No need sailang to prove yourself. This kind of method is like time bomb. Anyone wipe out your account
2018-08-25 20:38
Is a war going on? Really?
Sorry, not a trader, i don't play the zero sum game.
Lets assume alex, famousamos and apabagus is actually in the green and very much so now.
For every one of your guys, i am willing to bet that there is at least 5 poor sods in the red.
And this is over a 15 year database.
If you know anyone in a brokerage with the data, i am willing to take on the bet. With any of you. Name an amount, i'm not rich though, so its mostly for fun hahaha.
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Posted by Apabagus > Aug 25, 2018 08:37 PM | Report Abuse
Baby after reading a few books think he can fight a war.Even veteran like 3iii also no one give a damn.Oops,it's time to change diapers for baby jon!
2018-08-25 20:56
I am not against Buffettology. Who am I to question a great investor like that with solid proven track record ?
I AM AGAINST APPLYING BUFFETTOLOGY IN MALAYSIA.
Apart from Top Gloves, PBB and few others, how many Malaysian companies can consistently deliver growth like Coca Cola , Gillette, etc ?
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Warren buffet, his company now, insures the kind of risk no one else dare to insure. Multibilion dollar hurricanes, earth quakes, terrorism, micheal jordan legs.
Is he conservative or adventurous?
You need to revisit and study again your definitions and thinking.
2018-08-25 21:03
For every Jack Ma there's millions of MLM scammers. For every Warren Buffet there's millions of snakeoil salesman / stock market seafoods
2018-08-25 21:08
Ya...agreed with icon8888.
Klse stock most just for medium term....hold long term may lost back or back to square.
2018-08-25 21:09
Jon baby.Let's answer this question first.If W Buffett was a Msian instead of a USA citizen and he can only invest in bursa, what cos would enable him to get the results he achieved now as a usd multibillionaire?
Final reminder to you baby.One yr experience dun talk so much.
2018-08-25 21:18
Icon sifu talk really geng. Yes, none of the companies in Malaysia have the competitive advantage compared to that of the U.S.
Nestle maybe? But bukan buatan malaysia
2018-08-25 21:23
lots of theories, lots of experiences
but who can escape from being "fooled by randomness"
2018-08-25 21:46
by probability > Aug 25, 2018 06:23 PM | Report Abuse
as such, the objective in i3 should be more about unmasking the risk of a high risk (perceived) high return stocks
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yes I agree.....a lot can be gained by knowing and thinking of risks and the risk - reward relationship.....but if everyone only thinks about the risks....who is going to commit?
can KYY commit so much if he worries so much about risks?
me? I think there is no free lunch....Higher returns are earned from taking on higher risks, ....and keep your fingers crossed.
2018-08-25 21:56
3iii is the one WB loyal disciple here who is able to make money consistently in KLSE.
2018-08-25 22:10
your personality fits the environment for that period, u make a lot of money.....some other periods, how?
2018-08-25 22:14
Sadly, we can’t simply change our personalities as we wish in a short time. That’s how ‘I ‘ formed. Why being so greedy? We can make a good fortune when our personalities fit into environment if we mindful where we are and applying sailang style. The rest of unfit period....enjoying life lor.
2018-08-25 22:25
by Up_down > Aug 25, 2018 10:23 PM | Report Abuse
Sadly, we can’t simply change our personalities as we wish in a short time. That’s how ‘I ‘ formed. Why being so greedy? We can make a good fortune when our personalities fit into environment if we really know our ourselves and applying sailang style. The rest of unfit period....enjoying life lor.
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correct
2018-08-25 22:26
That’s an ideal situation but we hardly can achieve that level of wisdom. Lol
2018-08-25 22:31
Why TG, PBB not in your portfolio? Why instead choose LionInd, WCE, Ekovest-W, etc?
Posted by Icon8888 > Aug 25, 2018 09:03 PM | Report Abuse
I am not against Buffettology. Who am I to question a great investor like that with solid proven track record ?
I AM AGAINST APPLYING BUFFETTOLOGY IN MALAYSIA.
Apart from Top Gloves, PBB and few others, how many Malaysian companies can consistently deliver growth like Coca Cola , Gillette, etc ?
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Warren buffet, his company now, insures the kind of risk no one else dare to insure. Multibilion dollar hurricanes, earth quakes, terrorism, micheal jordan legs.
Is he conservative or adventurous?
You need to revisit and study again your definitions and thinking.
2018-08-25 22:33
Posted by Up_down > Aug 25, 2018 10:31 PM | Report Abuse
That’s an ideal situation but we hardly can achieve that level of wisdom. Lol
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can never because its hindsight.
2018-08-25 22:34
Be gentle on jon baby.He is just taking baby steps and gonna fall a lot.Be gentle please.Wakaka.
2018-08-25 22:43
very interesting..just as i had thought all this while..
thanks up_down
thats why we can easily know whom we can fall in love and whom we cant
within a few conversations.
Posted by Up_down > Aug 25, 2018 11:00 PM | Report Abuse
Listen to your intuition
https://youtu.be/UzRvKXiKbuw
2018-08-25 23:11
Probability. Hope to achieve that level in investing. Listen to your intuition....無招勝有招. Lolz
2018-08-25 23:23
In response to this message
http://klse.i3investor.com/blogs/koonyewyinblog/171084.jsp
I wrote the following to KYY...and he thanked me for it.....
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.....
2018-08-25 23:28
guts.....but I tend to lose money if I trade fast and depends on guts........and tend to make winning trades if I trade slower and use my experience......
another way of putting it....if I buy early in the mornings, I tend to lose money......if I buy in the afternoons, I got good chances of making money.....
2018-08-25 23:40
As usual,a Plp will forever be a Plp.Uncle praise a bit makes him feel he can fly.
2018-08-25 23:40
by klee > Aug 25, 2018 11:40 PM | Report Abuse
As usual,a Plp will forever be a Plp.Uncle praise a bit makes him feel he can fly.
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no, cannot fly.....but still a good piece....
2018-08-25 23:45
Is Neoh Soon Kean and Yeon Seng Choon a bankrupt? If not, yes it works.
Look, its just logic. Value investing is like inoculation. You either get it or you don't.
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Apabagus Jon baby.Let's answer this question first.If W Buffett was a Msian instead of a USA citizen and he can only invest in bursa, what cos would enable him to get the results he achieved now as a usd multibillionaire?
Final reminder to you baby.One yr experience dun talk so much.
25/08/2018 21:18
2018-08-26 01:44
value investing, growth investing, trading or speculations...the last two having bad ( uncalled for) image....diversified or focused portfolios.....
nowadays, everyone wants to be a hedge fund, 100% return if possible...go and sailang la....value partners cheah cheng hye calls it the killer instinct.
2018-08-26 01:56
https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/171153.jsp
Bro, you are right, value investing dont work at all man.
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Apabagus Jon baby.Let's answer this question first.If W Buffett was a Msian instead of a USA citizen and he can only invest in bursa, what cos would enable him to get the results he achieved now as a usd multibillionaire?
Final reminder to you baby.One yr experience dun talk so much.
25/08/2018 21:18
2018-08-26 02:29
Dun like that, baby jon capital 100x larger than me oh.
Good morning ah Jon, Monday hoot what stock? 25k at your disposal
2018-08-26 09:00
PEOPLE NEED TO UNDERSTAND WHY SIFU LIKE ICON, CHARLES T, PROBABILITY, QQQ, CALVIN TAN, KC AND OTB ATTACK JON CHIVO ON THE ISSUE OF RM 5K FEES HE CHARGE FOR TIPS....!!
IF LIKE MOST KUNGFU MOVIES....THESE YOUNG CIKKU JON...GO & ATTACK ALL THE SIFUS KUNGFU ACADEMY IN ORDER TO GAIN FAME & PUBLICITY LOH...!
IT IS !IKE JON GETTING CHEAP PUBLICITY MILEAGE, BY BEATING EACH & EVERYONE OF THEM, THE YOUNG CIKKU GAIN RECOGNITIION LOH...!!
JUST LIKE KUNGFU MASTER WONG FEI HONG BEING DEFEATED LOH...!!
IN ORDER TO STALLED ADVANCES N PROGRESS OF THIS YOUNG CIKKU CHALLENGE, THE SIFU DECIDED TO ATTACK...INSTEAD OF BEING DEFENSIVE....WHEN THESE YOUNG CIKKU COME UP WITH 500% RETURN KUNGFU AND CHARGING RM 5K FEES FOR TIPS & KUNGFU ADVICE LOH....!!
RAIDER SAYS BE SPORTING LAH....JUST ALLOW JON CHIVO CARI MAKAN SIKIT MAH...HE IS STILL YOUNG MAH....!!
2018-08-26 10:04
ACTUALLY JON COME IN MANY FORM & AND MANY MANY ID NAMES MAH....!!
IT IS UNLIKELY U DON ATTACK HIM LOH.....!!
Posted by qqq3 > Aug 26, 2018 10:46 AM | Report Abuse
I don't consider myself attacking this Jon....I stay out of it.
2018-08-26 10:51
Posted by qqq3 > Aug 26, 2018 10:48 AM | Report Abuse
my favorite target for writing here remains OTB and KC....gives me great pleasure.
It gives me utmost pleasure just to respond to your "attack" on me too with my name stated, to expose a know-nothing, talk-nonsense, fake accountant, an incredible PLP, etc. The more you carry out personal attacks, the more you show your stupidity, ignorance, and PLPness.
See how a great PLP acts below,
Posted by qqq3 > Aug 25, 2018 11:28 PM | Report Abuse
In response to this message
http://klse.i3investor.com/blogs/koonyewyinblog/171084.jsp
I wrote the following to KYY...and he thanked me for it.....
2018-08-26 11:57
Good sharing, very lively and real.
To sum it all, in order to make money in stock market, you may need
1. knowledge & analytical skills (FA & may be TA)
2. business sense (understand company's product, market & industries)
3. guts (action to buy & sell)
4. targets to profit & cut loss point (know where is the destination)
5. timing to act (when to buy & sell)
6. LUCK.
FUNNY TO SAY, MANY FOLLOW HEARSAY & DEPEND HEAVILY ON LUCK.
They common like the following:
1. knowledge - no time to read & analyze
2. business sense - what is that?
3. guts - rush to buy high & fear to suffer more
4. targets - 100% return in 1 week time
5. timing to act - when every buy, buy AND when everyone sell, sell
6. LUCK - YES
2018-08-26 21:06
How many companies do you think is that amazing in the US stock market? Less than 50 out of 25,000.
And how many selling at attractive valuations? Very very little, maybe 2 or 3.
And how big is US market? Well, Berkshire Hathaway is worth more than the entire KLSE market.
Our name is not warren buffet. Even Koon Yew Yin is a germ when it comes to worldwide capital markets.
If he try to get a meeting with warren buffet, by saying how much money he has, he won't even get past the secretary. A secretary who join WB company in 1970 probably richer than him!
And compared to koon yew yin, we are insects.
You only need one or two company. If you get in aeoncr, myeg etc early, by now you will be talking like 3iii, ahahahaha.
Of course, everyone thinks the grass is greener on the other side, but by virtue of being malaysians, we have information edge about malaysia compared to foreigners.
And if we are not able to find even one or two in malaysia, what makes you think we have a better chance of finding it in the US stock market, where its so efficient, and sharks got from gigantic to tiny.
And we are complete aliens there.
You want to buy the names you know? Everyone there also know. Nvidia 60PE. Google, almost 40PE, Amazon, 250PE.
General mills and kelloggs can actually show you less profit and revenue for 2 years for you to see. 15PE, but you also don't dare buy because you wont know the consumer market there that well. Here, nestle, you know every year sure up, but there, you wont even know which consumer brand to buy.
Having said that, US now also alot of opportunities in the energy sector, quite a few energy companies at 3-6 PE. Synchrony financial is only 9PE.
I considered going to US markets in 2016, and if i did, i think i will feel like genius, because a rising tide lifts all boats. But that does not change the fact that i would probably just lucky.
Malaysian markets is actually more efficient than US market due to certain factors. But it is more inaccurate.
And there's only 9XX companies. Newbie just need to read for a few months, and they'll know the market quite closely. Of course almost none will do that.
US market, need at least 3 years to finish reading.
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Icon8888 I am not against Buffettology. Who am I to question a great investor like that with solid proven track record ?
I AM AGAINST APPLYING BUFFETTOLOGY IN MALAYSIA.
Apart from Top Gloves, PBB and few others, how many Malaysian companies can consistently deliver growth like Coca Cola , Gillette, etc ?
25/08/2018 21:03
2018-08-28 17:01
Every time, people say cannot find 10 baggers in malaysia, don't have companies with moat.
And yet every few years, another 10 bagger appear.
Its not no chance, we are just not smart enough yet.
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Icon8888 I am not against Buffettology. Who am I to question a great investor like that with solid proven track record ?
I AM AGAINST APPLYING BUFFETTOLOGY IN MALAYSIA.
Apart from Top Gloves, PBB and few others, how many Malaysian companies can consistently deliver growth like Coca Cola , Gillette, etc ?
25/08/2018 21:03
2018-08-28 17:02
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.
2018-08-25 20:25