From the company announcement, you can see that my wife and I have bought more than 150 million Jaks with margin loan. Due to the depressed property market and the bad publicity of the legal battle with Star, many shareholders are dumping their shares. When the price plunged, we have to sell to meet margin call which is a vicious cycle. Forced selling will depress the price lower which will create more forced selling until more buyers come forward to support the price.
Happy Invest
Jaks is on Cheap Sale - Koon Yew Yin (Comment welcome)
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Author: Koon Yew Yin | Latest post: Sat, 4 Aug 2018, 11:08 AM
An official blog in i3investor to publish sharing by Mr. Koon Yew Yin. |
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I was too bullish and bought too many Jaks. It is like I drank too much XO brandy until I vomit. It is not that XO or Jaks is not good, but I had too much of the good thing.
I am ashamed to admit my mistake. This is my worst mistake in share investing in my life. I must remember this mistake and learn from my mistake.
As you know, there is always some risk in buying any share. I was so bullish because I thought I could make money as I did in Latitude, Lii Hen and VS Industry, all of which had gone up a few hundred percent within 2.5 years.
My main reason for buying Jaks is its 1,200 MW power plant, generating electricity for the Vietnamese Government. I was so sure that the consortium of 3 Chinese national banks would have examined the power purchase agreement thoroughly before they would finance Rm 7.76 billion for the project. It is like the banks are guaranteeing profit for Jaks.
All smart investors should be able to see that the price has been plunging in the last 3 months and take advantage of this cheap sale to buy.
Cheap sale is quite rare and you are lucky. Luck is when preparation meets opportunity.
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Discussions
Be the first to like this. Showing 11 of 11 comments
Quick question Mr Koon, will you buy more at current price? Or u will just hold until it goes above your costs? (I assume your average costs is >=1.20?), thank you :)
2018-08-04 18:30
all are here to make profit, the only different is the strategy use.
some promote the company to boots the price then sell to you
some curse the company and attack KYY so that can buy low from you.
at the end, all are just same and believe in this company....haha
2018-08-05 12:09
don't get me wrong, i am not KYY fan or supporter, i am just an investor, i like this counter because i found that it is oversold and company is heading to recovery mode. once they get rip of the property development division, that is the turnaround point which i think very soon, i purposely went to the falling star site, it seem likes going to complete within 2 -5 months.
2018-08-05 12:09
From the selling trend, an astute investor would have detected something is awfully wrong in this counter. Never touch this counter. Sorry to say KYY got trapped big time this time.
2018-08-05 15:04
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shortinvestor77
KYY kena force selling. Where got money to push up the price? If he got enough cash to pay, he wouldn't be forced selling. How long will it be continued? No body know. We only know KYY wants ikan bilis to help him push up the price so that banks can stop force selling OR he can sell to them!
2018-08-04 17:24