kcchongnz blog
How many stocks to own? kcchongnz
Recently I have read someone commented that 99.5% of the companies listed in Bursa are rubbish. With 914 companies listed in Bursa Malaysia as of to-date, that means only 4 or 5 companies are investible. The author’s action is true to his words.
Another commentator mentioned that there are only about 20 companies listed in Bursa which are investible. But this person also advocate focus portfolio, may be less than 10 stocks.
The above investors are focus investor having concentrated portfolio of stocks which they perceived as great companies which they have deep knowledge about and to be held for long-term. They are the followers of Warren Buffett style of investing. They just have a few eggs and they make sure they remain good eggs and watch them very closely.
Warren Buffett
For the 50-year period from 1965 to 2017, the compounded annual growth rate (CAGR) of Berkshire Hathaway’s share price was 21%, translating into a total gain of over two million percent. This beats the CAGR of about 10% of the S&P500 by a wide margin.
A $10,000 investment in Berkshire Hathaway stock in 1965 would be worth $240 million as of the end of 2017.
Buffett is interested in analyzing stocks qualitatively. He felt he could gain an edge by doing more in- depth research. He visited companies, he talked to management, and he considered the actual prospects of the business. He basically believed that using both quantitative and qualitative analysis was better than just using one or the other.
There was another famous and successful growth investor, Philip Fisher of the “Common Stocks & Uncommon Profit” fame, whom Buffett follows closely in his philosophy of deep-qualitative analysis.
Who dare to say Warren Buffet’s style of active and concentrated investing is wrong?
It’s a fascinating topic to think about, especially for mere mortals (like most of us), who don’t possess the genius that Buffett has in analyzing business. Walter Schloss (will introduce later) said it best about Buffett:
Water Schloss
“The only investors who shouldn’t diversify are those who are right 100% of the time.”
Sir John Templeton
There was another disciple of the Grand Master of value investing Benjamin Graham, Walter Schloss. Few knows who Walter Schloss is.
He is another very influential investors having the same record-breaking 21% CAGR over a 50-year period from 1955 to 2010, three times the 7% return of the S&P during the same period.
Unlike Warren Buffett, Schloss bought a lot of stocks and hold them in his portfolio. The stocks he bought were cheap stocks, typically Graham type of stocks, cheap in relative to asset value, and hold them for a few years and realized his profit. He often owned 60 stocks or more at a time, sometimes as many as 100. He claimed he was not a good judge of business trends or management capability (as opposed to Warren Buffett). He repeatedly said “I don’t like losing money”. So, he needed to take a diversified approach so he could “sleep well”.
“I like the idea of owning a number of stocks. Warren Buffet is happy owning a few stocks, and he is right if he is Warren….”
Buffett, instead of ridiculing him of buying “rubbish”, detailing his exemplified records of success, and praised him very highly in his famous speech, “The super investors of Graham and Dodd” in the Columbia School of Business some years ago.
Peter Lynch
Peter Lynch’s spot in the list of greatest investors stems in large part from his work with the Fidelity Magellan Fund between 1977 and 1990. During this 13-year period, the fund posted a CAGR of 29%, beating the S&P 500 index in 11 out of 13 years and building the fund’s assets from $20 million to $14 billion. The fund had the best 20-year return rate of any mutual fund in history.
A $10,000 investment that earned this return for 13 years would have grown to nearly $280,000.
Peter Lynch's performance at the Magellan Fund is even more impressive when you consider the sheer number of stocks the fund owned. In fact, the Magellan Fund had more than 1,000 individual stock positions at times, eve up to 1400 stocks.
Lynch believed strongly in diversification, or spreading your investment dollars around, in terms of industries, company size, and growth potential. He just bought more and more stocks if he found them good stocks and selling at good prices.
However, Lynch doesn't believe in diversification just for the sake of reducing risk. Lynch refers to this as "diworseification." Lynch's goal was to build a portfolio that was diversified, but was also full of good stocks at all times.
Imagine if he were to analyse each stock in great details, visiting the companies and management often.
Joel Greenblatt
Joel Greenblatt is my favorite super investor who popularized the “Magic Formula” Investing strategy. He is an American academic, hedge fund manager, investor, and writer. He is a value investor, and adjunct professor at the Columbia University Graduate School of Business.
In 1985, Greenblatt started a hedge fund, Gotham Capital, with $7 million. Through his firm Gotham Capital, Greenblatt presided over an impressive CAGR of 30% over a period of 20 years from 1985 to 2006. The $7 million capital turned into $1.7 billion 21 years later.
Joel bought a portfolio of about 30 stocks using his magic formula of high return on invested capital, ROIC and earnings yields at the firm level to identify good companies selling at cheap price, and rebalancing the portfolio annually. He basically follows the purely quantitative approach in doing so.
So, can we tell Walter Schloss, Peter Lynch, Joel Greenblatt that they are stupid idiots, and ridicule them for holding so many stocks?
But how many stocks should an individual investor hold?
Academic Approach
Many academicians believe there is a kind of free lunch in the market, i.e. in portfolio diversification. In academic, risk is measured by the standard deviation of return, the higher the variance, the riskier is the portfolio. So, to reduce risk, more stocks are included in the portfolio.
As the number of stocks in the portfolio increases, the variation of return reduces sharply initially as shown in Figure 1 below. Studies and mathematical models have shown that maintaining a well-diversified portfolio of about 20 stocks will yield the most cost-effective level of risk reduction as shown in the figure below, beyond that, there is negligible additional benefit for adding more stocks.
Figure 1: Reduction of idiosyncratic risk
Stocks diversification won’t ensure gains or guarantee against losses but strives to smooth out unsystematic risks of companies in a portfolio which are not perfectly correlated so that the positive performance of some companies will neutralize the negative performance of others.
In Practice
The popular adage of "Don't put all your eggs in one basket" is very much suited for investing in the stock market. It advocates diversification, a technique that reduces risk by allocating investments in a number of stocks in the portfolio. Ideally the stocks chosen should be spread over different industries that would each react differently to the same event.
In practice, the decision about how many stocks to own is the balance between risk and return. The more concentrated your holdings, the greater the chances of exceptional returns if you are in the right stocks, but there is also a higher risk of a substantial decline if you stock picking is poor.
Another factor is your tolerance for volatility. If you are heavily concentrated in just a few fast-moving names or small-caps issues, it won't be uncommon to have swings of 5% on a daily basis. Many retail investors cannot handle that sort of movement and probably lose sleep at night.
Time frames also influence the number of stocks you hold. Some traders take the approach of high concentration for short periods of time. They can handle the lack of diversification because they are willing to move quickly at the first sign of trouble.
Another factor that will influence how many stocks you own is the amount of capital with which you are working. If it a very small account, it isn't possible to be highly diversified because of the high costs of transaction. On the other hand, there are large funds that will hold many hundreds of stocks because there isn't any other way to put their capital to work.
My take as a guide,
Less than RM100k capital: 5 stocks
RM500k: 10 stocks
RM1m: 15-20 stocks
More than RM10m: more than 30 stocks
Having more, but not too many more, carefully selected good stocks, besides avoiding huge losses, also has a higher chance of striking some multi-baggers which could increase the return of the portfolio tremendously.
Happy investing
ckc14invest@gmail.com
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Discussions
7 people like this. Showing 50 of 191 comments
Those who gets killed are those who got no Q and go play in rubbish dump.
Those who gets killed are those who got no Q and go attend seminar and start to value here , value there........
2019-01-26 13:31
Dear Stockraider,
What are Q and R?
Is Q refer to quack, quack, quack? I google quack and the following come up.
quack1
noun: quack; plural noun: quacks
1. The characteristic harsh sound made by a duck.
"I heard a quack and saw some ducks huddled together"
verb
3rd person present: quacks
1. (of a duck) make a characteristic harsh sound.
"ducks quacked from the lake"
Informal: Talk loudly and foolishly.
quack2
noun: quack; plural noun: quacks
1. a person who dishonestly claims to have special knowledge and skill in some field, typically medicine.
"quack cures"
Synonyms: swindler, charlatan, mountebank, confidence trickster, fraud, fraudster, impostor, trickster, racketeer, hoaxer, sharper, rogue, villain, scoundrel
Informal: con man, shark, flimflammer;
Thank you
2019-01-26 17:03
Hi KC,
How to reconcile the academic vs value investing notion of risk? It seems that the common argument against the academic definition of risk is that it really defines volatility and not risk of losing money. I believe Buffett himself has wrote in his annual report in relation to this.
That being the case, would the diversification chart you presented above still apply? For if interpreting it from volatility perspective then the chart just says "after a certain number of stocks in your portfolio, you will manage to reduce to market volatility". Nothing about risk of the portfolio as defined by Buffett ("chance of losing money").
Furthermore, even if you are willing to accept the academic notion of volatility as risk, reducing the portfolio to "market risk" may not mean lower risk in absolute term. E.g. if the market at a certain point in time has 80% chance of losing money then a fully diversified portfolio still has 80% chance of losing money. That 80% is non-diversifiable.
2019-01-26 19:09
Dear SSlee,
'R' means get it right loh....!!
Do the Right thing mah....!!
If u invest Rationally doing right thing, u always win sustainability mah....!!
Posted by stockraider > Jan 26, 2019 12:43 PM | Report Abuse X
The 1st step u must find out got:
1. Got margin of safety factor
2. Got strong Balance sheet factor
3. Got big cash factor
4. Got reasonable div factor
5. Positive earnings factor
That means got 'R 'factor can buy or sailang loh...!!
Insas hathaway is the best ' R ' factor stock 2019.
Don missed this opportunity loh...!!
2019-01-26 22:22
I propose that companies can also be valued based on Qr instead of PE.
It works...it is not popular because it calls for a lot of judgments...but it works.
what is popular with teachers is the easier PE ...what the professionals use is Qr.
2019-01-26 22:31
If understand the king of plp, qqq where his former master kyy abandon him, u will understand, why qqq desperately try to find a new master Mr Long loh..!!
How can u believe people like qqq, can be a good investor leh ?
When qqq depended on his masters continue feeding him like a dog leh ??
As usual as a dog, he need to be loyal and continue plp his new master, how could u be confident his judgement is unbiased to the favor of his new master leh ??
This is r the important question we need to ask when u listen to qqq loh...!!
Posted by stockraider > Jan 26, 2019 10:35 PM | Report Abuse X
For someone who don really understand what is margin of safety investment, and claiming Goreng stock like Aokam & Renong as margin of safety stock & investing in it big at its goreng height, certainly in not in a qualify position, to comment on investment with safety of investment principal mah....!!
In addition Mr Long, predicting hengyuan can go Rm 12.00 when it is now below rm 5.00, but then why talk bad at this stock leh ??
I think Mr Long, very smart and deceptive & hedging his bet loh...he is betting both side mah, head he wins and tail he wins....normally circus magician will do that type of stunt mah..!!
Posted by (S = Qr) Philip > Jan 26, 2019 05:25 PM | Report Abuse
I'm predicting RM12 in 5 years for Hengyuan, on the back of their chinaman style of doing upgrading works at cheaper prices than western companies. I'm also predicting it based on low prices of crude oil in hengyuan, and hopefully a delay in competitiveness of RAPID.
But would I buy this company? Definitely not.
(S = Qr) Philip
291 posts
Posted by (S = Qr) Philip > Jan 26, 2019 05:29 PM | Report Abuse
The problem is, people who buy too many stocks without thoroughly understanding the business that they are in intimately, tend to become too irrational and try to make numbers suit the story that they have built in their heads, instead of the other way around.
With all respect for an elder, KYY is one such example. He had a great system, but thought that he was better than his system, and invested in multiple companies at bigger margin multiples than was his circle of competency, in terms of financially as well as business sense.
In the end he wiped out years of smartly built capital gain in one jaks.
But as I believe he has a great Q x R ratio. He will definitely be back and more focused than ever.
I know, I've been there.
2019-01-26 22:48
Nonare Hi KC,
How to reconcile the academic vs value investing notion of risk? It seems that the common argument against the academic definition of risk is that it really defines volatility and not risk of losing money. I believe Buffett himself has wrote in his annual report in relation to this.
Me:I have the chance to be in both world, the academic as well as the practical side. In academic, I believe it is plausible that the more stocks you hold, the lower the risk. It is in sync well with the practical aspect, the old adage that don't put all your eggs in one basket. The only question is how many stocks is considered as well diversified. In my opinion, I believe in my take as expressed in the last section of my article here.
That being the case, would the diversification chart you presented above still apply? For if interpreting it from volatility perspective then the chart just says "after a certain number of stocks in your portfolio, you will manage to reduce to market volatility". Nothing about risk of the portfolio as defined by Buffett ("chance of losing money").
Me: Portfolio diversification only reduces or eliminate Idiosyncratic risk, risks specifically related to the company or industry. It can't do away the systematic risk, or risk related to the overall market. Hence, there is still risk of losing money.
Furthermore, even if you are willing to accept the academic notion of volatility as risk, reducing the portfolio to "market risk" may not mean lower risk in absolute term. E.g. if the market at a certain point in time has 80% chance of losing money then a fully diversified portfolio still has 80% chance of losing money. That 80% is non-diversifiable.
Me: as discussed above, the systematic risk is still present, and diversification can't eliminate that.
2019-01-26 22:49
stockraider > Jan 26, 2019 10:48 PM | Report Abuse
If understand the king of plp,
==========
really meh?.......But I think I very good.....
If one is to use Qr to look for shares in its early days / or mid cycle...instead of PE....one would have found Public Bank, Harta, Top Glove, Yinson...and Scientex, AeonCredit, Vitrox and the best of the best at the earliest possible stage.
2019-01-26 22:51
Posted by qqq3 > Jan 26, 2019 10:31 PM | Report Abuse
I propose that companies can also be valued based on Qr instead of PE.
It works...it is not popular because it calls for a lot of judgments...but it works.
what is popular with teachers is the easier PE ...what the professionals use is Qr.
Q is quack quack quack
R stands for Rubbish
2019-01-26 22:54
success = Qr.....where Q is execution factor, r is potential of an idea/ company.
I propose that companies can also be valued based on Qr instead of PE.
It works...it is not popular because it calls for a lot of judgments...but it works.
what is popular with teachers ( read kc) is the easier PE ...what the professionals use is Qr.
Q is the execution factor.....the skills and talent of the management to execute.
r is the potential of the idea.
and lastly rubbish collectors will get rubbish......
2019-01-26 22:56
Posted by Alex™ > Jan 26, 2019 12:06 PM | Report Abuse
what do you think of the fact that most active fund managers perform worse than a passive index-tracking fund? Is it applicable to Malaysia?
This is why,
https://klse.i3investor.com/blogs/kcchongnz/171080.jsp
It is well-known and applies everywhere in the world.
2019-01-26 23:05
kc...u want to be a better teacher...first understand the power of Qr.............here it is....
https://klse.i3investor.com/blogs/qqq3/191536.jsp
2019-01-26 23:05
If one is to use Qr to look for shares in its early days / or mid cycle...instead of PE....one would have found Public Bank, Harta, Top Glove, Yinson...and Scientex, AeonCredit, Vitrox and the best of the best at the earliest possible stage.
2019-01-26 23:07
Posted by qqq3 > Jan 26, 2019 12:42 PM | Report Abuse
raid...if your ambition is to be a rubbish collector, so be it.....I don't think it works......throw a dart can easily get some rubbish, with Insas like qualities, in Bursa nowadays........
Insas is thousand times better than Jaks and Sendai which have been promoted by you for the last couple of years, and nothing else.
If Insas is rubbish, your Jaks and Sendai is like Kowsai.
2019-01-26 23:09
kc...your value here value there is called cigar butt investing by your own hero, wallen the bufalo.....
2019-01-26 23:10
kc
Jaks and sendai were good trading ideas during their days....
here I am talking about investing.....
2019-01-26 23:11
kc.......Insas appeals to rubbish collectors....A teacher with experience will stay clear of rubbish dumps.....
2019-01-26 23:13
Posted by qqq3 > Jan 26, 2019 11:05 PM | Report Abuse
kc...u want to be a better teacher...first understand the power of Qr.............here it is....
https://klse.i3investor.com/blogs/qqq3/191536.jsp
Please lah, don't link those with quack quack quack. all those scribbled by quack quack quack just talk cock good for a laugh and have negative value.
2019-01-26 23:14
correct ah ??
Today saturday 4 ekor draw result, my uncle after seeing the 4 ekor result, always tell me, if he adopted QR approach....he will be able to pick the 4 ekor 1st prize winner consistently loh...!!
Btw my uncle...always tell me the same story everytime after the 4 ekor draw result is out loh....!!
Raider is smiling...he...he..he..."sounds familiar like our friend QQQ loh"...!!
Posted by qqq3 > Jan 26, 2019 11:07 PM | Report Abuse
If one is to use Qr to look for shares in its early days / or mid cycle...instead of PE....one would have found Public Bank, Harta, Top Glove, Yinson...and Scientex, AeonCredit, Vitrox and the best of the best at the earliest possible stage.
2019-01-26 23:15
Posted by qqq3 > Jan 26, 2019 11:13 PM | Report Abuse
kc.......Insas appeals to rubbish collectors....A teacher with experience will stay clear of rubbish dumps.....
Nope. Insas is thousand times better than the kowsai Jaks and Sendai which have been promoted by you for the last two years.
2019-01-26 23:16
by kcchongnz > Jan 26, 2019 11:14 PM | Report Abuse
Please lah, don't link those with quack quack quack. all those scribbled by quack quack quack just talk cock good for a laugh and have negative value.
==========
but u got to up your game if you want to give real value to your students......kc.......what u have been feeding them...tak bolih pakai one......
2019-01-26 23:18
Posted by qqq3 > Jan 26, 2019 11:18 PM | Report Abuse
but u got to up your game if you want to give real value to your students......kc.......what u have been feeding them...tak bolih pakai one......
As far as value investing is concerned, during the good years in 2015 to 2017, my portfolios of stock pick made many times the return of the stock market.
In a bad year like 2018, my stock pick using value investing no win no lose, while the overall market lost more than 20%.
So HTF you know what I taught tak boleh pakai. You just quack quack quack only.
2019-01-26 23:26
Posted by qqq3 > Jan 26, 2019 11:13 PM | Report Abuse
kc.......Insas appeals to rubbish collectors....A teacher with experience will stay clear of rubbish dumps.....
Look at the share price movement of Insas and Jaks which you have been quack quack quack from two years ago.
Insas share price is unchanged but with 3 sen dividends.
Jaks has no dividend, and it lost more than 50% of its value.
Which has been a rubbish share?
2019-01-26 23:29
Jaks was a trading idea....but now at 50 sen....another life....very good now....
Insas....shares with Insas qualities in Bursa nowadays...throw a dart u get dozens......
2019-01-26 23:33
Dear all,
The below link give by Mr. Philip explain what is S=Qr
https://ideas.ted.com/what-can-we-learn-from-people-who-succeed-later-in-life/
r: “Random idea”
Q: “Ability to turn an idea into a discovery/useful product.”
S = Qr
Hence success is the product of an idea “r” meets with “Q” the ability of turning idea into a great discovery/great product/great business
Or in common saying success occurs when preparation meets opportunity.
Thank you
P/S: https://en.wikipedia.org/wiki/Quackery
A quack is a "fraudulent or ignorant pretender to medical skill" or “a person who pretends, professionally or publicly, to have skill, knowledge, qualification or credentials they do not possess; a charlatan or snake oil salesman"
2019-01-26 23:36
me? ss?
I already know you are a novice before everyone does......its called experience.
2019-01-26 23:41
how good can this kc be when he go promote stuffs like Insas?
and I thought only novice do that......
2019-01-27 00:11
Dear all,
http://www.chinapress.com.my/20190126/%E5%AF%8C%E5%A9%86%E9%80%81%E7%88%B1%E5%A4%AA%E7%9B%B4%E6%8E%A5-%E9%B8%AD%E7%8E%8B%E7%AC%91%E7%BA%B3%E5%A5%A5%E8%BF%AA%E3%80%81%E7%8E%B0%E9%87%91/
Just for entertainment someone should send in the CV to become a duck king (Quack, quack and quack) albeit an old duck king entertain those 70+ old and rich ladies rather than remain in i3 as snake oil salesmen.
Thank you
2019-01-27 07:59
sslee....I suggest you go check the date and time of this before u go off spewing your nonsense.........
https://klse.i3investor.com/blogs/qqq3/191536.jsp
better still, understand the under lying principles......
and it has nothing to do with preparation meets opportunity....quite the opposite...it talks about talents and skill...and some have it, some don't....and you sslee...surely don't.....
https://www.inc.com/jessica-stillman/physicists-have-discovered-a-form...
2019-01-27 10:14
Posted by qqq3 > Jan 27, 2019 12:11 AM | Report Abuse
how good can this kc be when he go promote stuffs like Insas?
and I thought only novice do that......
KC Chong has written 353 articles published in i3investor, with 14461 comments so far. They were all for sharing of investment philosophies, methodologies and process of fundamental value investing.
Don't just quack quack quack, go through all the above and show us one article, or one comment of KC Chong, which promotes any particular stock.
On the contrary, go and look at some of the few quack quack quack article, and its many other nicks such as Desa6769, Brightsmart, Stockmaany, TheLoneRanger etc. How many times he shouted panic moment, dynamite investing, margin, sailang on Jaks and Sendai for the last two years, and nothing much else.
Jaks share price has fallen relentlessly from RM1.80+ to 50 sen sen now in less than a year.
Sendai's share price not so bad, just yet, but also fallen from RM1.40+ to about 60 sen now.
2019-01-27 10:27
kc..........well...less than 0.001 % of my posts are about Jaks and sendai....
and actually very accurate what I say about Jaks ( the fundamentals ) ....except the forced selling by substantial KYY,.....that one is action by a substantial shareholder...........that is why I say it is a fantastic price at 50 sen....
2019-01-27 11:04
this kc...for two years only want to talk about Jaks and Sendai....u not malu one ah?? Is that how a teacher of stock market behaves?
what about the other 99.99% of Bursa?
2019-01-27 11:06
Posted by qqq3 > Jan 27, 2019 11:06 AM | Report Abuse
this kc...for two years only want to talk about Jaks and Sendai....u not malu one ah?? Is that how a teacher of stock market behaves?
Malu? Why?
By sharing a totally different analysis and opinion on Jaks and Sendai, those who read them and taken the advice would have saved huge amount of money from manipulators, syndicates, insiders.
Those who wish to learn how to avoid lemons would also benefit greatly.
Is this something to malu about?
Or shouldn't those who have been touting the stocks with margin and sailang feel malu, extremely malu and should look for holes to hide?
2019-01-27 11:21
kc...u want to be a teacher, u better answer cat's query.....and I am watching u and recording every word......
2019-01-27 11:38
I think kc is not oblige to ans mah....he did not charge a fee on cat mah...!!
Furthermore...with so many counters he mentioned, it look like even cat did do much homework as there are not even basic info or analysis he has done on these counters loh...!!
Posted by lazycat > Jan 27, 2019 11:24 AM | Report Abuse
mr chong , why u pick skpres and gtronic?
what do u think about inari ,vitrox and penta?
qqq3
7641 posts
Posted by qqq3 > Jan 27, 2019 11:37 AM | Report Abuse
kc...u want to be a teacher, u better answer cat's query.....
qqq3
7641 posts
Posted by qqq3 > Jan 27, 2019 11:38 AM | Report Abuse
kc...u want to be a teacher, u better answer cat's query.....and I am watching u and recording every word......
2019-01-27 11:51
Mr cat,
Then u must tell us why u like penta.??...why now u want chase after other girls, just bcos they put up, make up & look prettier loh ??
2019-01-27 12:07
Raider leave it to Mr Chong to advice loh...!!
But on inari, raider can advice this very smart approach loh...!!
BUY INSAS IS MUCH BETTER THAN INARI LOH..!!
U GET BESIDE GROWTH OF INARI, U ALSO GET HUGE MARGIN OF SAFETY OF INSAS MAH.....!!
Posted by stockraider > Jan 26, 2019 12:31 PM | Report Abuse X
This insas hathway has been moving 0.5 to 1.0 sen up almost everyday..can u see the opportunity going fwd leh ??
Rerating will be coming soon loh....!!
With the fast recovery of inari share price, there maybe a fair chance that insas, could be a technology growth stock too, bcos of vast insas exposure on inari....the investment of insas on inari has appreciated more than the whole insas capitalization mah....!!
Just sit n relax and watch the opportunity of insas, the best margin of safety stock....insas hathaway loh...!!
U can just buy insas instead of inari mah....!!
stockraider
9282 posts
Posted by stockraider > Jan 26, 2019 12:41 PM | Report Abuse X
The opportunity is now when insas is still wonderfully undervalue mah..!!
The 1st step u must find out got:
1. Got margin of safety factor
2. Got strong Balance sheet factor
3. Got big cash factor
4. Got reasonable div factor
5. Positive earnings factor
That means got 'R 'factor can buy or sailang loh...!!
Insas hathaway is the best ' R ' factor stock 2019.
Don missed this opportunity loh..
2019-01-27 12:24
Posted by qqq3 > Jan 27, 2019 11:38 AM | Report Abuse
kc...u want to be a teacher, u better answer cat's query.....and I am watching u and recording every word......
Hey, who do you think you are?
2019-01-27 15:46
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stockraider
The 1st step u must find out got:
1. Got margin of safety factor
2. Got strong Balance sheet factor
3. Got big cash factor
4. Got reasonable div factor
5. Positive earnings factor
That means got 'R 'factor can buy or sailang loh...!!
Insas hathaway is the best ' R ' factor stock 2019.
Don missed this opportunity loh...!!
2019-01-26 12:43