kcchongnz blog
The Forgotten Tycoons kcchongnz
I read a laugable comment directing at me again by a persistent critic as below,
Posted by stockmanmy > Apr 30, 2017 12:35 AM | Report Abuse 
Kyy is a tycoon, a maverick investor. They dare to sailang.
KC, if you do not dare to sailang, you should be more comfortable with CFA rules aka as diversification rules.
If you cannot see KYY as maverick investor, you cannot see me as maverick investor. But both of us are The Mavericks.
The Mavericks? A "Sailang" Maverick?
Here I would liketo share an article by Fools, a very good article for everyone to ponder, "The Forgotten Tycoons"
The Forgotten Tycoons
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Hi Fellow Investor,
We all have role models. Mentors. Heroes. We find those we want to emulate and learn all we can from them, following in their footsteps.
Sometimes that's a dangerous path.
I was reminded of the potential perils of becoming, in today's language, a fan-boy of the rich and famous by, of all people, my role model.
"Thanks for everything you've helped me with," I told an investment writer I've long admired over a recent lunch. "You've been a great mentor."
After all, he's spent years dispensing valuable advice to me on investing, business, and life.
But he was quick to deflect the praise.
"Careful there," he laughed in response.
"What do you mean?" I asked.
"Edgewater, come on. We've talked about this before. Don't jinx me."
Ah, he was right.
"Edgewater" is code for a story that illuminates how careful you have to be when selecting and admiring role models and mentors in the business world.
It goes like this.
Ninety-two years ago, a group of nine of the world's most successful and powerful businessmen met at the Edgewater Beach Hotel in Chicago. Adjusted for inflation, some were billionaires. What others lacked in wealth they made up for in influence.
They were there to celebrate their power, share stories, and team up to dominate the booming U.S. economy.
If there was a roomful of men capable of ruling the world, there it was.
But within 25 years, those nine men ruled nothing:
- Charles Schwab, the president of Bethlehem Steel, died bankrupt.
- Samuel Insull, a utility tycoon, died penniless after his empire collapsed under phony accounting.
- Howard Hopson, the president of a gas company, had a mental breakdown and lived in an insane asylum after being convicted of securities fraud.
- Richard Whitney, president of the New York Stock Exchange, was in prison for embezzlement.
- Leon Fraser, a banker and lawyer, committed suicide.
- Arthur Cutten, a commodities investor, died of a heart attacked.
- Ivar Kruger, who once dominated the match industry, killed himself after going broke.
- Albert Fall, President Harding's Secretary of the Interior, died shortly after being convicted of bribery.
- Jesse Livermore, an investor, was nearly broke and killed himself, writing to his wife: "I am a failure. I am truly sorry, but this is the only way out for me."
The takeaway is something we take seriously at The Motley Fool:
Choose your role models carefully. Extreme success is often due to luck, not skill or character. Never underestimate the power of one-hit wonders, especially in a field like investing. Personally, I'm interested in people whose success spans a lifetime, across multiple ventures. People like Warren Buffett, Steve Jobs, and Elon Musk. And yes (potentially brown-nosing but honest), Fool co-founders Tom and David Gardner.
Avoid leverage. It doomed many of the nine tycoons. In investing, this means avoiding margin debt when buying stocks. I don't know anyone who has consistently used margin debt and not regretted it in hindsight. I'm actually shocked it's still legal.
Think long term. Gunning for short-term results and the constant desire for more money now took down many of these nine men's fortunes. Markets reward patience more than any other skill.
Reputation, honesty, and accountability matter more than anything. Especially in business. As Warren Buffett once said when a company he ran came under scrutiny: "Lose money and I will forgive you. But lose even a shred of reputation and I will be ruthless."
Have a great weekend,
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Discussions
7 people like this. Showing 50 of 122 comments
They choose customers, not customers choose them. That is what they tell analysts and it is mainly true.
2017-05-01 00:03
value investors armed with their 20 ratios and 10 formulas , do they know what they are doing or not?
2017-05-01 00:06
Why bother ? As long your Dynamic view can bring good monies.
SCGM worthy to buy.
2017-05-01 00:15
What I learned from OTB's selection criteria is , u can always find a small cap before they turn to be a strongest in its field.
While for Dynamically , its more like searching for the Elite Members.
2017-05-01 00:19
Aeocr
Myeg
Dsonic
Gdex
Ghl
Can this counters come to you while practising Dynamic investing ?
2017-05-01 01:03
Venfx sifu why Eg not paying dividend is not a problem but a problem in China stocks?
2017-05-01 01:16
U got to seek Sc why they let the Red Chip coming in lor...
把关不 strict , and less convincing account set ...
So, problem is not on the Div. Only ...got it ?
2017-05-01 01:20
Very unfair only people dig China stocks not paying dividend when many local stocks don't as well.
2017-05-01 01:22
Aeocr
Myeg
Dsonic
Gdex
Ghl
This year, I have made money in AeonCr, MYEG. Gdex and GHL....still have AeonCr.
2017-05-01 02:13
Trading....this is the first time I write about trading. I don't like to write about trading because it is very personal, happens very fast and I don't discuss with anybody....
I prefer to write about dynamic investing because the ideas are more transferable.
Trading is too personalized to be transferable.
In the trading portfolio, the normal profits 10% to 20% per counter...so far this year, my losses are 2 to 3% per counter because I wanted the money to buy some thing else. I try to cut loss and let profits run to 10 to 20% before I sell. As much as possible, I will also like to average up...and average down not so much .
some times, like Southern Steel, it jumps up the day after I sold at cost., because I wanted to buy AAX. In steel , I still have Ann Joo , CSC which are in the money so I sold Southern Steel which is at cost. mainly because it is also my intention to reduce exposures to steel counters because steel raw materials prices are on the way up. The 3 steel counters were purchased the day they extended the duty.
The last few months, It has been very easy making trading profits. It is not going to be like this all the time. As long as no cut loss, as long as got shares, every dog has its day in the last few months...as long as got shares...and every sale transaction is a mistake , pretty much sums up the last few months.
The trick to making money the last few months then becomes....just find the inspiration and guts to buy shares..any share with a theme play...no kidding.
2017-05-01 03:35
go back to your balance ratios and formulas.
soojinhou > May 1, 2017 06:02 AM | Report Abuse
Stockmanny, u talk too much.
2017-05-01 07:20
Are we serious. We are comparing the views of uncle KC ( frankly never heard of him in the business world or investment world ) and uncle KYY, someone that no one will deny that understands business and has an impressive track record in the corporate world and also investment.
From what I know about their respective contribution to our forum / investor society
uncle Kyy shares his views and donates millions to charity ? But we criticize him. I wonder how much charity the rest of us do..
Uncle KC apparently preaches investments strategy and charges society for it.
If u claim u are a better investor, earn more and donate more than kyy, u will get our respect
2017-05-01 10:08
Posted by BornToSpeculate > May 1, 2017 10:08 AM | Report Abuse
Are we serious. We are comparing the views of uncle KC ( frankly never heard of him in the business world or investment world ) and uncle KYY, someone that no one will deny that understands business and has an impressive track record in the corporate world and also investment.
KYY IS AN OUTDATED DINOSAUR BUSINESSMAN...HE RETIRED MORE THAN 20 YEARS AGO...!! IF KYY SO GOOD...WITH GREAT BUSINESS APTITUDE, HOW COME HE LOSE MONEY EVEN IN HIS FORMER OWNED COMPANY LIKE MUDAJAYA ??
From what I know about their respective contribution to our forum / investor society. THIS KYY...IS A CONMAN...IF JUST SEEK SO PUBLICITY WITH LOADS N LOADS CONDITION..HIS DONATION TO TAR UNIVERSITY DID NOT HAPPEN BCOS HE PURPOSELY IMPOSE ALOT OF CONDITIONS UNTIL IT FAILED LOH.
uncle Kyy shares his views and donates millions to charity ? But we criticize him. I wonder how much charity the rest of us do..
Uncle KC apparently preaches investments strategy and charges society for it.YES..UNCLE KYY DONATE MONIES TO SOCIETY....BUT HE DO ILL GOTTEN GAIN BY CONNING STOCK INVESTORS WITH HIS MANIPULATION...WHAT IS DIFFERENT OF HIM WITH DRUG PUSHERS, AND ILLEGAL 4D OPERATORS WHO ALSO DONATE MILLIONS TO SOCIETY ALSO LOH...!!
KC IS A PROFESSIONAL MAKE AN HONEST LIVING...NOT WRONG MAH..!!
If u claim u are a better investor, earn more and donate more than kyy, u will get our respect. AS RAIDER SAY U CON ALOT LIKE KYY...THEN HE DONATE SOME TO SOCIETY OK MAH....!!
KC TEACHES U THE ART OF MAKING MONIES THE RIGHT WAY FOR A FEES...!!
IF U GO TO UNIVERSITY U NEED TO PAY ALOT OF FEES TOO MAH AND ALOT OF PARENTS ARE STRUGLLING WITH THAT MAH...!!
KC ONLY CHARGES AFFORDABLE SMALL FEES....COMPARE WITH KYY CON UR MONIES WITH NO FEES...U TELL ME WHO IS BETTER LEH ??
2017-05-01 10:33
HIS DONATION TO TAR UNIVERSITY DID NOT HAPPEN BCOS HE PURPOSELY IMPOSE ALOT OF CONDITIONS UNTIL IT FAILED LOH.
Ans : Please be fair in making this statement, the aforesaid statement is not true. MCA refused to accept the terms and conditions imposed by Mr Koon.
The same money (RM 70 million now but not 30 million) is donated to Penang government to build hotel for University students on same terms and conditions.
The objective of this donation is still the same, no change on terms and conditions. Penang government accepted it.
Mr Koon is sincere and wanted to donate this money for charity. I am very fortunate to get involve a bit in this donation. Mr Koon told me before he made this announcement.
Please be fair and not bad mouth his good intention on this donation. I do not wish to side Mr Koon on this matter. I talk with facts and figures and I just tell the true story.
Thank you.
Ooi
2017-05-01 11:16
Posted by Ooi Teik Bee > May 1, 2017 10:58 AM | Report Abuse
HIS DONATION TO TAR UNIVERSITY DID NOT HAPPEN BCOS HE PURPOSELY IMPOSE ALOT OF CONDITIONS UNTIL IT FAILED LOH.
Ans : Please be fair in making this statement, the aforesaid statement is not true. MCA refused to accept the terms and conditions imposed by Mr Koon. RAIDER VERY FAIR ONE....MCA REFUSE TO ACCEPT THE TERM & CONDITION IMPOSE BY MR KOON LOH...!!
The same money (RM 70 million now but not 30 million) is donated to Penang government to build hotel for University students on same terms and conditions.AS RAIDER READ THE INFO...ON PENANG...KOON DONATE & BUILD HOSTEL..PENANG GOVT PROVIDE LAND....BUT THE FEES & RENTAL CHARGE ON STUDENT RENTAL...COLLECTED BY KOON TRUST...NOT PENANG GOVT...SO EASY BUSINESS PREPOSITION...U GIVE THE LAND...I BUILD THE HOSTEL...I COLLECT THE FEES...LIKE THAT GENUINE DONATION MEH ?? IT IS A BUSINESS DEAL, WHERE KOON GOT NO LAND COST MAH..!
The objective of this donation is still the same, no change on terms and conditions. Penang government accepted it.THIS KOON IS TAKING ADVANTAGE LOH...UNLIKE ROBERT KUOK DONATE WITH SINCERE HEART...KOON NO LOH....!!
Mr Koon is sincere and wanted to donate this money for charity. I am very fortunate to get involve a bit in this donation. Mr Koon told me before he made this announcement.AS RAIDER MENTION IT IS JUST A BUSINESS DEAL...TAKING ADVANTAGE OF LAND...PROVIDED BY PENANG GOVT LOH!!
Please be fair and not bad mouth his good intention on this donation. I do not wish to side Mr Koon on this matter. RAIDER IS FAIR...NO BAD MOUTH...KYY ALWAYS GOT ULTERIOR MOTIVE...U NEED TO JUST UNCOVER LOH.!!
ALWAYS DON LOOK AT SURFACE LOH...!!
2017-05-01 11:25
You are wrong, Mr Koon has to pay RM 20 million for the land. Hence the donation is increased to RM 70 million.
Let time tells whether his intention is good or not. Penang government is very transparent on this transaction.
Thank you.
Ooi
2017-05-01 11:33
ou are wrong, Mr Koon has to pay RM 20 million for the land. Hence the donation is increased to RM 70 million.OK EVEN KOON PAY FOR LAND...THE STUDENT HOSTEL FEES IS COLLECTED BY KOON'S TRUST MAH...!!
IT IS STILL A BUSINESS PREPOSITION AND EXTEND KOON LEGACY MAH...!!
Let time tells whether his intention is good or not. Penang government is very transparent on this transaction. NO NEED TO WAIT LAH...THE INFO GIVEN....IS KOON JUST VENTURE INTO HOSTEL BUSINESS MAH...!!
IT IS NOTHING CHARITABLE ABOUT THAT LOH....!!
Thank you.
Ooi
2017-05-01 11:38
Sometimes it hurts to see sifus fighting with each other. As newbie needing guiding hands in this shark bursa world, I'm a little confused. I just broke even in my first trading month thanks to one sifu at i3.
Candlestick, breakouts, support, entry, resistance, position size, risk management, money management, fundamentals, technicals, trading rules....
Don't fight la, if i win money i belanja all sifus eat ice cream ok?
p/s: McD icecream RM1 version.
2017-05-01 11:44
myongcc5 instead of criticizing me, put forward your argument instead of saying something a 5 year could have replied
2017-05-01 12:23
it is ok to fight,fight means they still have the 'fire'..this is wat is needed to win in bursa....hahaha.
not bad lar stockman,20% per ctr...next time try get one with 100% or even 200 %...like gdex-cd.....wakaka
2017-05-01 12:51
you got it exactly right.
the market do not reward smooth talking. The market rewards those who have an opinion, take risk and later proven right. And if want the market to make a difference, have to sailang like KYY.
every tycoon, everyone who ever succeeded have faced 10 naysayers, the doubters, the pessisimists.
the right attitude is called skeptical optimism.....and being steady., not nervous. high self esteemed, no need to be shy about it.
what can be taught becomes popular memes....it is what cannot be taught, what is inside and deep love for reading and learning that makes the difference.
BornToSpeculate > May 1, 2017 10:08 AM | Report Abuse
Are we serious
2017-05-01 12:59
201) kcchongnz +12.9% 112883.59 http://klse.i3investor.com/servlets/pfs/71070.jsp
23% FIBON 0.695 0.555 37000|21% MAGNI 4.930+0.06 4.190 4800|20% FAVCO 2.690 2.380 8400|20% FLBHD 1.620 1.600 13700|16% LATITUD 5.250 4.900 3500 (112832.00:51.59|239.41)
http://klse.i3investor.com/blogs/ibot/121840.jsp
A hero to remember?
2017-05-01 14:05
But within 25 years, those nine men ruled nothing.
→Charles Schwab, the president of Bethlehem Steel, died bankrupt.
→Samuel Insull, a utility tycoon, died penniless after his empire collapsed under phony accounting.
→Howard Hopson, the president of a gas company, had a mental breakdown and lived in an insane asylum after being convicted of securities fraud.
→Richard Whitney, president of the New York Stock Exchange, was in prison for embezzlement.
→Leon Fraser, a banker and lawyer, committed suicide.
→Arthur Cutten, a commodities investor, died of a heart attacked.
→Ivar Kruger, who once dominated the match industry, killed himself after going broke.
→Albert Fall, President Harding's Secretary of the Interior, died shortly after being convicted of bribery.
→Jesse Livermore, an investor, was nearly broke and killed himself, writing to his wife: "I am a failure. I am truly sorry, but this is the only way out for me
The takeaway is something we take seriously at The Motley Fool:
Choose your role models carefully. Extreme success is often due to luck, not skill or character. Never underestimate the power of one-hit wonders, especially in a field like investing. Personally, I'm interested in people whose success spans a lifetime, across multiple ventures. People like Warren Buffett, Steve Jobs, and Elon Musk. And yes (potentially brown-nosing but honest), Fool co-founders Tom and David Gardner.
Avoid leverage. It doomed many of the nine tycoons. In investing, this means avoiding margin debt when buying stocks. I don't know anyone who has consistently used margin debt and not regretted it in hindsight. I'm actually shocked it's still legal.
Think long term. Gunning for short-term results and the constant desire for more money now took down many of these nine men's fortunes. Markets reward patience more than any other skill.
Reputation, honesty, and accountability matter more than anything. Especially in business. As Warren Buffett once said when a company he ran came under scrutiny: "Lose money and I will forgive you. But lose even a shred of reputation and I will be ruthless."
............................
pussycats → The abov article is priceless. TQ KCchong
2017-05-01 15:49
Apollo Ang →but msia tycoons all didn't suffer anything.....
............................
Pussycats ⇒ msia tycoons are very lucky la. Don't you think so? Food for thought. when high tide everyone is covered, but when low tide, some one will be exposed naked by Wa len bull fed.
2017-05-01 16:01
I didn't see msian tycoons bangrupt,die penniless,had a mental breakdown,in prison,commit suicide,die of heart attack,kill himself? all now healthy and everynite very sound sleep
2017-05-01 16:06
seems you needed bad news to make you happy?
The fate is not in the stars....it is within everyone.
Go for it...reach for it.
pussycats > May 1, 2017 03:49 PM | Report Abuse
But within 25 years, those nine men ruled nothing.
2017-05-01 16:07
Pussycats ⇒ msia tycoons are very lucky la. Don't you think so? Food for thought. when high tide everyone is covered, but when low tide, some one will be exposed naked by Wa len bull fed.
01/05/2017 16:01
stockmanmy→ seems you needed bad news to make you happy?
The fate is not in the stars....it is within everyone.
Go for it...reach for it.
......................................
Pussycats comments →Did I say I am happy? No, I just want to focus on what the abov article said about the past American tycoons. We need to learn from history la, my friend.
We also need to learn from Warren Buffett famous quote→ Food for thought. When high tide everyone is covered, but when low tide, some one will be exposed naked by Wa len bull fed.
Don't turn & twist my thought lah Stockmanmy. Stockmanmy does u have negative thought about people??? Come on lah learn from every sifu, including sifu from The Motley Fool...
2017-05-01 17:16
Apollo Ang, msia tycoons are very lucky la. They never have bad misfortune.
2017-05-01 17:25
pussycats > May 1, 2017 03:49 PM | Report Abuse
But within 25 years, those nine men ruled nothing.
01/05/2017 16:07
. -.......
pussycats says → the abov article said about those 9 men from America. I am not happy about it But we should learn from history la. Stockmany do u understand what I say ? Sorry bcos my England not good la.
2017-05-01 17:33
.....Susah, nak cakap sikit, orang pusing cakap saya. MY England not good takapa, yg Penting ialah menang byk duit dlm Bursa lah... ;-D
2017-05-01 17:43
All sifu in stockmarket hv different styles, just like in Kung Fu world all sifu got different styles. Some are Tai Chi, Win Chun , Karate, Judo, Taekwondo, Silat, Thai kick boxing, Mongolian wrestling and etc. Nobody should belittle anyone.
2017-05-01 18:02
chi sin.....
I tell you what....that there are certain universal truths, whatever people may say.
pussycats > May 1, 2017 06:02 PM | Report Abuse
should belittle anyone.
2017-05-01 18:07
stockmanmy chi sin.....
I tell you what....that there are certain universal truths, whatever people may say.
pussycats > May 1, 2017 06:02 PM | Report Abuse
should belittle anyone.
01/05/2017 18:07
..................
Pussycats → All sifu in stockmarket hv different styles, just like in Kung Fu world all sifu got different styles. Some are Tai Chi, Win Chun , Karate, Judo, Taekwondo, Silat, Thai kick boxing, Mongolian wrestling and etc. Nobody should belittle anyone.
Pussycats said →Nobody should belittle anyone.
stockmany twisted my words by saying that I said should belittle anyone. WHY U ALWAYS TWIST MY WORDS STOCKMANY???.
I cakap pun bosan dgn org macam keropok twisty always twisting what other is saying. kikikikiki kata AyamTaktua
2017-05-01 18:30
kc
so scared of market...should learn and teach diversification rules aka CFA rules.
I didn't learn the real meaning of "only free lunch in town is diversification " until I read through my son's CFA text books and notes.
alternatively, the right attitude is....if KYY can succeed , so can I.....so I spend my time learning how to sailang.
sailang is not easy to learn. How do you unlearn a whole life time of habits?
2017-05-01 18:35
cut and paste wrong
Nobody should belittle anyone.
but,
I tell you what....that there are certain universal truths, whatever people may say.
2017-05-01 18:42
kakaka, laf die me. I see superman, superboy, super girl. They are heroes, but...fake... now see super investor, kakaka
2017-05-01 20:37
Posted by stockmanmy > May 1, 2017 06:35 PM | Report Abuse
kc
so scared of market...should learn and teach diversification rules aka CFA rules.
I didn't learn the real meaning of "only free lunch in town is diversification " until I read through my son's CFA text books and notes.
alternatively, the right attitude is....if KYY can succeed , so can I.....so I spend my time learning how to sailang.
sailang is not easy to learn. How do you unlearn a whole life time of habits?
My article here is about the below,
"People focus on role models; it is more effective to find antimodels -- people you don't want to resemble when you grow up." -- Nassim Taleb
If you can do that, you will be successful and living happily thereafter.
2017-05-01 21:15
"Warren Buffett, Steve Jobs, and Elon Musk. And yes (potentially brown-nosing but honest)" I believe this quote must be rephrased........warren buffet loaned to big corporate investment firms like goldman sachs for pushing gold back in days and it crashed later on....he should also be accountable for allowing his fund being used for such thing and i believe he knew the facts of it before borrowing huge amounts and etc....most things behind the backdoor are unforseen, i dont think we need the filthy rich to be our mentor. In todays world hardly anyone who are successful follows the code of ethics that are honest and are respected in the ethical way.
2017-05-02 01:50
Wall lone but fat need to write a book to teach people how to invest in klci
he see many people dunno invest
2017-05-02 15:30
If follow the blog title who is forgotten tycoons? Not VT or Danny Tan among them?
2017-05-05 03:46
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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They choose customers ?
Hiw manmy come across this, anyway SCGM has certain moat in the industry.
Recent Titan to be listed in Bursa shall benefit the polymer user giving currently STABLE price to cost.
2017-04-30 23:45