kcchongnz blog
A stock investment tip: Always do your homework kcchongnz
In my last article published in i3investor, “Don’t listen to stock tips” not too long ago in the link below,
I have used those stock tips published in i3investor for the last 6 to 7 years ago as examples of the peril of listening to stock tips. With extraordinarily little exception, their share prices of those stocks tanked, and followers almost lost all their money, even during those good times from year 2009 to 2017. In fact, a loss of 80% or more, or even total loss were common for those stock tips!
How perilous was that!
How to get back up when you have lost 80% on your investment? A simple math will tell you need to make 400% for the balance of your investment, just to break even.
The long-term return of the market is about a CAGR of 10% a year. That means it will take you 17 years earning 10% a year to just breakeven, after you have lost 400% of your money in the stock market.
So, remember this,
It is impossible not to lose money dabbling in the stock market. It does happen especially for the short-term. However, over the long term, it is not difficult to stick to the above rules. That is the message.
My conclusion in my above article is,
“Do some analysis yourselves before investing in tips. It is a must. Check if the stock is of a good company. Then do some valuation if it is worthwhile to invest in.”
So, how to go about not to lose money in the long-term in order to be successful in investing?
I have recently read an article from Mr. Fong as shared by Tan KW, “亲自做功课才能成功/冷眼”. Here is the link below,
https://klse.i3investor.com/blogs/coldeyed_dear_newbie/2020-05-07-story-h1506936220.jsp
The message is as below, first in Mandarin
- 惟有懂得捕鱼之道的人，才能长期捕获大量鱼虾
- 所以，股票投资要成功，一定要亲自做功课，不要依靠别人的“贴士”，亲自做功课而成功的人我见得多了，靠别人“贴士”而长期成功的投资者，我几乎没见过。如果你想在股市成功，除了亲自做功课之外，别无他法。
- “出错”是投资常态. 我们作为股市的散户，唯一可以做的，是倾全力做功课，把错误减至最低程度。
In summary in English, it says,
“Only those who know how to fish, then only they can catch a lot of fish and prawns.”
“If you wish to be successful in stock investing, you must do your own homework, and don’t listen to stock tips. I have seen many successful investors because they do their homework. I haven’t seen anyone who becomes rich listening to stock tips. Doing homework is the only way to be successful in the stock market”
“Making a mistake, and lose money is normal. The only thing you can do is do your own homework to the best of your ability, and hence, minimize mistakes”
But how to go about doing your own homework which has been emphasized by Mr. Fong?
Knowledge and experience are particularly important.
Read, watch, practice, experience, review, continuous learning, come out with your niche and circle of competence in investing. Spend some time, effort as well as some money too to learn and acquire knowledge of something which is particularly important in your personal finance.
Treat investing in a stock as investing in part of a business. Then you must understand the business; how it makes money, is it making good money, is it a risky business etc. All this information is conveyed through the annual report and financial statements. Hence, first learn about some basic accounting, which I think is the most important in stock investing. There are a lot of resources out there, some are free in the internet, some are paid services of many of them are useful too, which I have seen.
Once you have acquired some accounting knowledge, you will be able to read some “Letters to Shareholders” by some super investors and understand and appreciate them more. Top of the list is “Letter to shareholders” of Warren Buffett’s of Berkshire Hathaway, Memos of Howard Marks of Oaktree Capital, Jamie Dimon of JP Morgan Chase etc. They are good source of investment education.
Incidentally, you can still read great articles written by Mr. Fong in Nanyang, and even in i3investor, courtesy of people like Tan KW. But don’t expect stock tips. His article above already mentioned not to follow stock tips from anybody, even from him. Also do not expect to find what stocks he has. He never like to disclose his portfolio to anybody. You may know a few of his stocks from the list of major shareholders of some companies. Just like any super investor in the world, none like to disclose their stock holding. Whatever information of their stock holding are collected from various annual reports which their funds are one of the major shareholders. Some super fund managers, such as Guy Spier, don’t even disclose their shareholdings to the investors invested in the funds until they are sold.
There are some good writers and individual analyst in i3investor too. DK66 is one of them who is an expert in project costing and financial appraisal of IPP, a good investor, with great humility too. Good job DK, Jie Yu! Choivo Capital, although a young man very assertive and hence may have offended many people, is knowledgeable and good analysis and a great writer too. I believe he has done reasonably well too in his investment. Investbullbear has written a lot of good articles too. Ricky Yeo, a widely read young man, is another one whose articles many people can learn from, including myself. Pity we do not see his articles any more nowadays. My good friend Yi stock has written good analysis of some stocks but also don’t see him writing any more. Anyone interested in stock analysis can also refer to Icon8888. Many of his stocks write-up are good too. There is another good contributor, teoct who has written some of the best articles on QL and I remember a man of great humility too. Not forgetting someone named Philip, appears to be very good in qualitative analysis of business.
The above are just some of the good writers and analysts one can follow in i3investor for free. The list above is not exhausted. There are many more, and sorry if I forgot to mention.
Don’t forget to read some good investment books to inculcate some essential knowledge and philosophy in investing, even before starting to invest. “A random walk down wall street” by Burton Malkiel, “Fool by randomness” by Nassim Taleb, “Winning the losers’ game” by Charles D. Ellis, “The most important thing illuminated” by Howard Marks are some of them. These books tell you the risks in investment, reinforce you to recognize, understand, and manage them, and that making money in the stock market is not that easy and simple as many people tell you.
In my earlier days, I have read “One up Wall Street” by Peter Lynch, “The 5 Rules for successful stock investment” by Pat Dorsey, “Stock for the long run” by Jeremy Siegel, etc. They are easy to read, understand and not bad too. “The little book that beats the market” by Joel Greenblatt is another interesting and easy to read and simple to use book too which I have been using the methodology expounded there. Greenblatt has a harder but very useful book, “You can be a stock market genius”.
Professor Aswath Damodaran, the authority in valuation had come up with some books on relative and absolute valuation techniques. His “Little book on valuation” is a simpler and useful one. “Margin of Safety” by Seth Klarman is useful for more savvy investors. This book was sold at thousands, or even tens of thousands of USD per book, but it is out of stock. Klarman has no intention to reprint more.
Reminiscences of a Stock Operator, written in 1923 by Edwin Lefevre, tells from a first-person perspective the fictionalized tale of the early years of the great trader Jesse Livermore, is also an interesting book to read, especially for traders. Some people think the writer is Jesse himself.
There are some interesting fiction books which are related to investing. “The smartest guy in the room” and “The Conspiracy theory: the true Enron story” were my favorite. From these books, you can get to know how corporate American destroys value and they bring awareness to readers on the peril of investing in public companies, and how and what to watch out for when investing.
There are some useful books by local authors too. The first book I read many years ago was “Stock market investment in Malaysia and Singapore” by Neoh Soon Kian. Regret that I did not follow it and hence unable to make money investing in the stock market then.
There are also a few more books by local authors. Ho Kok Mun’s "How to Make Money from Your Stock Investment Even in a Falling Market" has been in the market for more than 15 years and have sold 350,000 copies. Peter Cheng of Equity Tracker has also written a book on “What I learnt as an analyst”. They are both good sources of stock investment knowledge in Malaysia environment.
For stock investment in Mandarin in the local environment, Mr. Fong has published three books which are very useful for investors. These books have sold for hundreds of thousands of copies so far. He is finalising his latest book and it is on the way to the market soon. Be sure to get a copy of his books each. They are classic investment books published by a local writer, and a successful investor.
Finally, K C Chong has also published a book recently, “Invest like a stock market guru: the complete value investing guide that works!”.
This book provides some especially useful framework, key principles and personal financial and investing guidelines for you to build up long-term wealth following some prove processes. It propagates value investing, quality investing and growth investing. It provides comprehensive guidelines on how to look at the business, analyse and interpret its performance. Most importantly, it provides abundant guideline on how to value the business, from various angles. The examples used for learning in the book are all local companies listed in Bursa.
With the knowledge in the book, and the right mindset, plus the experience you gain, you will find that you will be luckier than others in investing for the long run.
It was a great surprise that the first print of 2000 copies have all been sold out during this lockdown period. New copies have been just printed and they are available for sale now in the major bookshops such as MPH and Popular in the Klang Valley.
Appended below are some of the latest feedback from previous purchasers.
It is a good time to do some useful thing for personal improvement and advancement now during this lock down period. For those who are interested to purchase a copy directly from me, you may email me at,
There are some additional advantages purchasing directly from me. You will receive the book within 2-3 working days after purchase free of postage. You may also ask me any questions related to the book and value investing. Copies of the Q&A will also be shared among my book purchasers.
Stay safe and be positive.
KC Chong
Appendix
Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime. Whether you are a savvy investor or just a beginner, this is a great book that teaches you how to fish for the right investment. For the beginner, this book offers a detailed step-by-step guide to learn value investing principles. For the more experienced investor, this book serves as a useful refresher to enhance their investment skills further.
There are many ways to make money in the stock market, but one strategy that has proven itself over the years is Value Investing. KC Chong's book contains many timeless value investing wisdom that makes it a useful reference book before one dabbles in the stock market.
As an added bonus, KC Chong made the effort to include several real life examples of stocks listed in Bursa Malaysia to help the readers to put the theory into practice. Coming from a former financial planner, this book is suitable for investors who are serious in building long-term wealth.
Ang Kok Heng, CFA
Chief Investment Officer
Phillip Capital Management Sdn Bhd
Hi Mr Chong,
This was really a very comprehensive book from educating us from managing our personal finance all the way to investment. Very detailed explanation and great demonstration with every principles taught.
Alvin Yeo
Yes i enjoyed it. These days it is hard to find a value investing book packed with solid content while written in an easily understood manner.
It is an enjoyable read with a generous amount of information.
Kudos
Peter
By the way, Mr KC, your book is considered the most comprehensive investment book among all the Malaysian's Author. This is the best investment book about KLCI stocks market that i have ever read in my life. It is really useful for me. :)
Thanks.
Best Regards,
Nick
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Discussions
3 people like this. Showing 50 of 75 comments
by stockraider > May 13, 2020 8:29 AM | Report Abuse
Kchong is doing alright mah...!!
========
value here value there..........even when right, will eat crumbs.
compare contrast with Philips attitude........his attitude, he is very reluctant to sell shares, when right he makes multiple baggers........
granny buy Amazon IPO $1 become $ 1.5 million.......all the pros, $1 to $3 happy already.......
2020-05-13 08:39
haha qqq3,
If you hold your SCIB and Kpower long enough say 1000 year it will also be like amazon RM1 become RM 1.5 million.
2020-05-13 09:10
kc chong says ...........do your home work................
what does it mean? I really have no idea.
does it mean after an hour of lecture by kc, u will be better than the pros?
does it mean after an hour of lecture by kc, your home work will get an A?
anyone to help me understand kc?
2020-05-13 15:10
Posted by DK66 > May 13, 2020 8:18 AM | Report Abuse
Dear KC Chong,
I m proud to be named by you but calling me a financial expert in IPP is too highly of me.
Just recently, I realised that it is quite a burden to be relied upon. I3 is full of unreasonable attackers. Some of the good writers named may have quit for this reason.
I wish i3 could be a better place.
DK, there are all sorts of people in a public forum. Don't expect everyone is nice. Some are extremely nasty. Now I only realize people like qqq3 is relatively not so bad. These nasty people even dig through what you have shared many years ago, 6, 7 years ago, just to find something to discredit you and make you look bad. I could not imagine it even happen to such a nice man and a great contributor in i3investor like you.
Well, what I can say is you have the choice. If you still wish to share because you like to, just do it and ignore those people, and don't waste time on it.
People like us would immediate know from what you write that you are a good man. It is not difficult to read those comments and know who those haters are. I also mongchacha why they behave as such.
So, be happy. That should be your choice.
2020-05-13 15:15
Posted by DK66 > May 13, 2020 8:18 AM | Report Abuse
Dear KC Chong,
I wish you all the best with your publication.
Thank you
My book sells extremely well, thanks DK. As mentioned in my article, we are selling our second print now. The purpose of me publishing this book is to propagate this value investing, a very essential investment strategy which will provide the public a higher chance of success investing in the stock market. You don't make much money from publishing a book. Many writers in fact have to subsidize the cost just to have your book published. That was what I initially intended to do, to subsidize a little to get the book published. But right now, I don't have to come out money any more.
I have received hundreds of comments, all are good. there has not yet a single bad comment, none at all for those who have purchased my books and have read it. Why does the writer attract such an abhorrent remarks from one who has not even read the book, continuously?
As you can see, I try to sell this book to more people through my articles. I believe this book is very useful for those who treat investing in a stock as investing in part of a business.
Why is that people are so against me doing something which I think is very useful to the public?
2020-05-13 15:46
Philip ( buy what you understand)
buy what u understand is better than generic stuffs like do your home work.
KcChong laments the lack of articles...........
tell kcchong this is play time........not his buy PE 5 sell PE 10 time....or buy NTA 50% discount time.........
2020-05-13 15:48
Dear KCChong,
People like qqq3 afraid when more people know how to read financial report he cannot sell his stock like sendai anymore?
2020-05-13 15:55
sslee
KYY only know how to calculate PE....... and make hundreds of millions............
2020-05-13 15:59
yes, he did........I grill him for 2 days, while his chef grills us wagyu/kobe Beef............
2020-05-13 19:23
RAIDER IS ALSO VERY RELUCTANT TO SELL SHARE MAH....!!
Especially undervalue with huge margin of safety like insas mah..!!
Posted by qqq33333333 > May 13, 2020 8:39 AM | Report Abuse
by stockraider > May 13, 2020 8:29 AM | Report Abuse
Kchong is doing alright mah...!!
========
value here value there..........even when right, will eat crumbs.
compare contrast with Philips attitude........his attitude, he is very reluctant to sell shares, when right he makes multiple baggers........
granny buy Amazon IPO $1 become $ 1.5 million.......all the pros, $1 to $3 happy already.......
2020-05-13 22:32
KC,
Thank for your advice. It would be irresponsible for me not to complete my journey in Jaks with i3 readers who might have followed my articles.
I will consider again after Jaks.
Thank you.
-------------
kcchongnz
DK, there are all sorts of people in a public forum. Don't expect everyone is nice. Some are extremely nasty. Now I only realize people like qqq3 is relatively not so bad. These nasty people even dig through what you have shared many years ago, 6, 7 years ago, just to find something to discredit you and make you look bad. I could not imagine it even happen to such a nice man and a great contributor in i3investor like you.
Well, what I can say is you have the choice. If you still wish to share because you like to, just do it and ignore those people, and don't waste time on it.
People like us would immediate know from what you write that you are a good man. It is not difficult to read those comments and know who those haters are. I also mongchacha why they behave as such.
So, be happy. That should be your choice.
2020-05-13 23:29
stockraider > May 13, 2020 10:32 PM | Report Abuse
RAIDER IS ALSO VERY RELUCTANT TO SELL SHARE MAH....!!
=========
your problem is that of an amateur.
2020-05-14 07:32
Philip ( buy what you understand)
My truthful experience of kcchongnz? I used to respect his articles, and you can see from my many replies agreeing with his well written articles. I have even liked his articles.
This was my comments:
Posted by Philip ( buy what you understand) > Feb 3, 2019 10:59 PM | Report Abuse X
I think all of you have got it wrong. The main aim of investing is long term compounded gains. I tell you truly, even if kc is bottom of 2017 stock pick challenge, as long as he never leads you to negative gains yearly then he will have been a success.
Someone who can teach you how to never lose money will win over those who teach you to win big and lose big. Don't believe me?
The secret is compounded gains. Reinvestment into safe growing stocks that leave you happy over a long term.
If you take all the top 10 winners of stock pick challenge and you average out their stock picks ( reinvesting all their previous year gains), what do you get?
A teacher who can guide you to grow your book value steadily is worth 10 koon yew yins who lead you to big wins in latitude one day, and a xingquan the next. Hengyuan one day and sailang Jaks the next day.
Investing in stocks is about watching paint dry. If your idea of investing is 1 year stock challenge sailang all?
Then I noticed a pattern of his: he would consistently attack and smear other investors and commenters when his inconsistencies were brought up.
This is what he said Connie55 commented on him bringing down JAKS.
Posted by Connie555 > Nov 7, 2019 5:03 PM | Report Abuse
so as this kc....the more he use jaks as scenario the more i feel like puking....jaks already come bck frm 0.40 last time keep talk bull shit cashflow this that....nw that it bck to 1.1 he come out advice ppl this that...once i see...ah diu jaks again....yau hai this kcchong....wahlan.....instant turn off my cpu...u knw why? i duwan sit my electric bill on this bull shit
Seriously I did not expect anyone to become vulgar and started to personally attack others. I wish the society here is more civilized than that. Most of us were educated to be as such. Anyway, can't expect everyone to be the same
But then this is his replies to others:
Aiyo, you don't even realize how stupid you are. The more you talk, the more you reveal how retarded you are. Take my advice. Keep quiet, then no one will know you are that ridiculously and incredibly stupid.
---
Posted by kcchongnz > May 10, 2019 6:23 PM | Report Abuse
I really don't know what is the fuss about my portfolio. I am still making 3%. If annualized, it could be 10%. If I could maintain it every year for 20-30 years, I will be one of the top performers investing in Bursa.
Anywhere, isn't my portfolio better than the 2 below who lost 37% and 59% respectively?
https://klse.i3investor.com/servlets/pfs/99613.jsp
https://klse.i3investor.com/servlets/pfs/99183.jsp
By the way, to me, investing is a marathon, not a sprint.
2020-05-14 08:21
Posted by duitKWSPkita > May 14, 2020 7:49 AM | Report Abuse
Sifu kcchong.
Wishing you a wonderful 2020
Hi duit,
Long time no see. Wonderful to hear from you again. Your messages to me are always refreshing, although sometimes I missed them.
Hope you are well.
2020-05-14 08:34
Philip ( buy what you understand)
On his inconsistencies, I started noticing a huge deviation.
He would write comments like this:
One way to evaluate BH is look at the price to book value and decide on how much premium you are willing to pay for the service of the Oracle of Omaha; 1.1, 1.2, 1.5, or 2.0?
I don't buy BH as I am an active investor myself, and often dwell in the mid to small cap space to find better value. BH may suit many but doesn't suit my risk appetite.
Everyone is different.
Then in the same breath write things like this:
I would say a valuation of a company selling eggs, surimi, palm oil, things in a convenient stores selling at a PE even at of 50 (not to say 60) is way too rich. As a matter of fact, most super investors in the world would say that. Affirmative. It would be a very bad deal for me to buy it.
S tell me, can its profit double the next year, and what about the next? And why do you think at PE 60 for the kinds of business in QL, that it is still a good buy? A good buy even at PE 100? and how you justify it with some numbers? Or your great stories is good enough?
Why say things like everyone is different, but bash me directly?
I also noticed him writing articles to directly counter everytime KYY writes and article to talk bad indirectly.
When KYY writes about dayang, he writes when to sell.
When KYY writes about margin, he writes about the dark side.
You notice this pattern stretching back multiple years. I started asking myself why?
Let's scuttlebutt.
2020-05-14 08:36
Posted by DK66 > May 13, 2020 11:29 PM | Report Abuse
KC,
Thank for your advice. It would be irresponsible for me not to complete my journey in Jaks with i3 readers who might have followed my articles.
I will consider again after Jaks.
Thank you.
DK66, tell me, I have written a number of articles on Jaks over a 3 years period. Let me list down all of them, and all on the peril of margin finance, when the share price was pushed up by numerous articles to the peak of 1.80+.
https://klse.i3investor.com/blogs/kcchongnz/2017-05-22-story123266-Is_Jaks_a_big_fat_frog_jumping_all_around_kcchongnz.jsp
https://klse.i3investor.com/blogs/kcchongnz/2018-08-08-story168850-Jaks_and_Some_Twisted_arguments_on_Share_Margin_Finance_MF_kcchongnz.jsp
https://klse.i3investor.com/blogs/kcchongnz/2018-10-01-story176384-Jaks_Is_Santa_Claus_coming_to_town_kcchongnz.jsp
https://klse.i3investor.com/blogs/kcchongnz/2019-11-05-story233883-Jaks_the_Best_Lesson_on_Margin_Finance_The_Dark_Side_kcchongnz.jsp
https://klse.i3investor.com/blogs/kcchongnz/2019-10-31-story233107-Unimaginable_Magic_from_Margin_Finance_on_Jaks_Resources_kcchongnz.jsp
You have most of your investment in Jaks since more than 3 years ago.
Is there any of the above articles which hurts you? Any article above offended you?
I would like to ask this question to OTB too.
2020-05-14 08:49
haha good morning everyone,
Someone is not in the good mood this morning because he sold his winner and buy into his loser. So he is very upset now.
2020-05-14 08:51
hello sslee
just ignore Philip and life will be more pleasant.
take your time to mature in you investment life and decide what to do with your INSAS.
Dun let Philip pressure you.
Of course if you ask me its sell.
also of course next day after you sell, Insas becomes RM15.00 per share.
thats normal life. Dun blame me if that happens
2020-05-14 08:58
Yes, I wrote many articles on Eversendai when someone heavily promoting margin finance when it was trading up to RM1.40. It is now less than 40 sen now. So have I done a disservice to the public to tell them the perils of margin finance?
So, heavily promoting margin finance very good to the public?
Come on man!
2020-05-14 08:59
Philip ( buy what you understand)
Over the years I have bought a lot of classes and subscriptions from many frauds and fake sifus. Suffice to say, and have spent a lot of money on classes. I have built a series of red flags to define this frauds. You can use it to evaluate before you buy classes, it has been very effective for me.
Kcchongnz fulfills every criteria.
1. Self promotion. Either by talking bad about other investors ( in this case KYY and myself), writing articles by referencing super investor methodology ( without the same results), etc.
2. No history of results. Almost every subscription classes I went to ( receipt for 2, who are now my investing partners), they will keep talking about stock picks analysis, but have no record of long term multiple year portfolios.
3. Very defensive when questioned on results. They spout things like comparing sausages etc but do not consider the importance of such. If you think about it qualitatively, who cares about the GREAT STORIES written, but the financial reports and returns? But almost all frauds are unable to keep a portfolio: because they have none. They take it as a personal affront instead.
4. Never looking back and studying his poor investments or selling activities. Selling is just as important as buying. Since frauds are just about selling stock picks and successes, they never understand the importance of learning from bad choices. You never see them studying or writing articles about their investment mistakes or their losses or selling prices.
5. Income sources. If you notice that they sell a lot of other supplementary products like subscription classes, stock pick services, book selling, e-book etc, they very rarely manage funds or are good enough at stock picking to live entirely off of it.
6. DIWORSIFICATION. Generally, most top investors have a tight investing policy of diversification. The number of stocks invested should coincide with the capital at hand, due to liquidity. Peter lynch is a brilliant individual, but he had to buy many stocks due to the mutual fund capital flowing in. His results despite the ever growing mutual fund capital is nothing short of amazing. Most frauds promote a lot of stocks picks because it is the only way to drum up interest and sales. It becomes very boring to keep buying the same stocks year after year, which many frauds have no idea about. There are limited good companies to invest in out there, despite the thousands available.
2020-05-14 09:01
"I would say a valuation of a company selling eggs, surimi, palm oil, things in a convenient stores selling at a PE even at of 50 (not to say 60) is way too rich. As a matter of fact, most super investors in the world would say that. Affirmative. It would be a very bad deal for me to buy it.
S tell me, can its profit double the next year, and what about the next? And why do you think at PE 60 for the kinds of business in QL, that it is still a good buy? A good buy even at PE 100? and how you justify it with some numbers? Or your great stories is good enough?
Why say things like everyone is different, but bash me directly?"
So, the problem is above? Someone sharing that a stock is overvalued with some good reasoning and you considered it as a bashing of yourself? And you will start to even attack him personally?
OMG. What kind of character are you?
2020-05-14 09:02
Philip ( buy what you understand)
So yes, I believe I am very good at analysis and understanding business ( and people) to find the inconsistencies.
I also understand the importance of maintaining a portfolio, not to show sausages, but to track my own results, failures, successes in a very fair way for readers out there.
KYY puts his heart on the table, every success every failure. We can and should respect that.
Trolls like sslee and i3lurker are those with promoting articles or taking bad about everything, but looking at their promote stock performance, based on financial results one knows to take them seriously or not.
As for kcchongz, I believe I have had done enough explanation. He is someone I used to think was a reliable sifu on i3 with good writings.
Then when I saw his article dont buy stock picks services ( but he himself had done it for multiple years) I felt sick to my stomach.
This is the last comment I will leave on any of his articles.
I believe the results of QL and Topglove during this crisis ( both pe50+ stocks) and the subsequent margin fuelled purchases into Pchem during the crisis has shown the validity of my words over his articles.
Actions speak louder than words.
I have sold almost half of the stock split shares of topglove this year, and I still have as much in value as last year before splits.
Well written articles, stock pick subscription services and book sales pale in comparison to investment results.
For once why doesn't those investment book attach his the meat of the annual reports in his book? His past 10 year results, the balance sheet, the returns?
http://csinvesting.org/wp-content/uploads/2014/10/The-Superinvestors-of-Graham-and-Doddsville-by-Warren-Buffett.pdf
This is one of the few blog articles that Warren wrote: what did he concentrate on?
RESULTS.
2020-05-14 09:18
Dear i3lurker,
https://klse.i3investor.com/blogs/Sslee_blog/2020-05-14-story-h1507030329-Farewell_my_Malaysian_Dream.jsp
2020-05-14 09:20
Philip ( buy what you understand)
Attacking you personally would be to call you names and laughing at your investments.
I HUMBLY BEG YOUR FORGIVENESS FOR EXPOSING YOUR INCONSISTENCIES AS AN INVESTOR, STOCK SUBSCRIPTION SELLER AND FICTIONAL BOOK WRITER.
I did have to learn a lesson myself, by exposing Ricky yeoh, Jon choivo and kcchongnz credibility by highlighting the lack of a results based approach to writing, they have written substantially less. This is both good and bad for the i3 community.
It would be like my criticizing Mary buffett for her speaking tour, her 3 bestsellers on investing by asking a simple question: if we removed the buffett daughter in law tag, what would are your portfolio returns over the last 10 years?
That would be wrong and hurtful.
I humbly apologize kcchongnz.
I stop now before I do more damage to the community.
I was about to write an article on your stock picks over the last 6-7 years as many have emailed to me their experiences with your subscription and portfolio returns. I have built an entire portfolio results analysis.
But in the end, I no longer think it is right or worth it. The MCO is about fixing problems, not expanding them. DK66 and teoct did teach me a few good lessons.
Have a good weekend.
>>>>>>>>>>>>
So, the problem is above? Someone sharing that a stock is overvalued with some good reasoning and you considered it as a bashing of yourself? And you will start to even attack him personally?
OMG. What kind of character are you?
2020-05-14 09:31
Dear Philip,
Do not take me and i3lurker seriously, we just have some fun making comments to past the time.
You are a great man and mean well but you always have this compulsive personality with excessive concern with orderliness, perfectionism, result oriented, mental and interpersonal control and a need for control over one's environment, which interferes with flexibility, openness to experience and different of opinions.
You are only second to Simon Cowell who is paid millions as talents judge for his sharp tongue, judgmental abusive style, making direct cutting comment that hurt and sometimes insulting contestants.
Remember i3 is an open forum and stand for independent, intelligent and informed thus everyone with or without proven results are welcome to post their diverse comments/blogs so that readers can make their own intelligent and informed/misinformed decision.
You will be most welcome if you can controlled your compulsion that everyone posted their blogs here must show their result. Be less judgmental and embrace diversity and encourage more people to write in whatever topic in their mind so that they can better articulate their thoughts become a better writers and a better man thus a better world.
Thank you
2020-05-14 10:45
Philip ( buy what you understand)
Sslee, I have zero issue with individuals posting their articles. Look at teoct, even though he writes articles decrying QL, I gave him a like and even started a position in the China milk industry.
What I have zero patience for is those who keep writing articles and repeating my investments are bad just because they are pe50.
So if you are able to write great stories, if you don't post your results to match the blogs articles I have no issue whatsoever.
But insulting others and commenting on their stock picks at the same time to push their own agenda, I find that repulsive. For those that seek to gain credit by discrediting others, I found it important to scuttlebutt and understand the confidence from where their investment theories lie.
Like yourself, I would not bother to comment at all, but for the fact that you seem to like defending INSAS not by commenting on INSAS share price, it's growth in earnings and returns in the long run, but by commenting on QL, gkent and Pchem results instead.
I don't mind these discussions, but in the end it has to be based on the reality of financial results, and I believe my pe50+ stocks in QL and topglove by now ( held over a very long time) should have expanded by now the concept of understanding businesses instead of just using pe, net assets and debt as a means of validating the long term performance of a company.
Flexibility yes, openness yes, but in finance and investing it is a very dangerous weapon if used without understanding.
If someone told you they can fly, and they can teach you or to fly, and all you have to do is buy a book and jump out the window and you can fly as well.
My recommendation is to ask him to show you that he can actually fly first before jumping out that window.
If you do not agree that having a portfolio is paramount in investing in someone's advice, I can give you 4 fund managers that have approached me to manage my money recently and their articles and prospectus. You can choose any one of them. After that I will give you their portfolio results and you can see which articles you loved best and if their 5 year results matched their words.
Thank you.
2020-05-14 12:33
pretence.......cari makan got to pretend more than non cari makan.....
not polite to break someone rice bowl or only right to speak your mind.........................
I know who I am and what I am............and I am water.......
2020-05-14 12:51
I am no one's teacher to fly in stock market and have no intention to be. And I am water.
2020-05-14 12:54
today, it really shows........
Gloves for pros ....... Top Glove, Harta , Supermax.......Division 1
and then there are gloves for the rest...........Division 2
same thing here....
Before Philips, all the famous people here are division 2 players and many flying Bufalo flags.......
Should be believe what they say or what they do?
2020-05-14 13:05
kc like to fly Buffalo flags while promoting retail shares.........any way, this is i3, a retail place.........
cannot sell ice to eskimos, so must sell retail shares while flying the Bufalo flags.............
2020-05-14 13:09
although both aim to make money, there are the retail and the institutions.........they come from different directions and different audience.
and then , there is a third category. The authors of popular books, circuit speakers, the course lecturers. These are the....Do as I say but don't do as I do people...that is why there are the , you must do your homework and The final decision is yours people.
2020-05-14 14:30
bufalo flags are flags people wave for respectability.
beyond that......it is do your homework and final decision is yours.
$ billion industry.
2020-05-14 14:36
Haha
Qqq3 also forget easily that one upon a time he promoted JAKS and SENDAI day and night with Sailang and Margin Finance that prompt KCChong to warn i3readers the pitfalls investing in JAKS and SENDAI with Sailang, Margin Finance and blindly follow superinvestor KYY.
2020-05-14 14:59
why can't I promote Jaks and Sendai?
I am a trader.........for a trader, any thing also can do, good , bad, ugly all I also can do....its just timing for me.....
Its just a game, a share like any of the other 2000 shares......
2020-05-14 15:01
Haha qqq3,
Last time you are KYY sidekick and only promote KYY stocks.
Now you are much better to promote Karim X factor and glove stocks.
2020-05-14 15:20
gloves? I see the brilliance in KYY just when the whole world was attacking him because he said he lost money..........
https://klse.i3investor.com/blogs/qqq33333333/2020-04-23-story-h1506080957-The_brilliance_of_KYY.jsp
I knew then , people should see the brilliance in kyy and in years to come will see the brilliance in qqq for writing that piece........
2020-05-14 15:26
but as of yesterday, KYY is alone in gloves..........I left already.........
2020-05-14 15:28
Dear Philip,
Thank you for offering me the 4 fund managers that have approached you to manage your money recently to mange my money.
I afraid the 4 fund managers will laugh at my little sausage “kacang putih” fund size. My investment is just for fun as long as I can get return more the FD rate and I actually waiting patiently for discount day sales to collect some of your recommended stocks.
Thank you
2020-05-14 15:39
Philip ( buy what you understand)
Don't worry, don't need you to teach me to buy and sell stocks.
You hold star too long I already laughing lo. Sslee already sold with 50% profit but small volume. I sold at 30% profit but much larger volume.
My topglove sales the more I sell the more the value keep going up, but don't worry, my profit in one year already 60+% for a pe50 stock.
But traders like you, kcchongnz, choivo and Ricky yeoh will never buy a pe50 stock right?
I already hold Topglove for 10 years lo, in all that time the share price going up steadily based on performance. Now the price is going up is based on speculation, I think I will keep to my own methods and sell off slowly.
Your sapura energy until now how come not yet reach rm3 one? Your NETX how come until now still not yet 8 cents one?
You still got money buy glove stocks?
>>>>>
Posted by stockraider > May 14, 2020 2:41 PM | Report Abuse
Then there is a fourth category a sohai who complaining on everything including a good guy who write a book....in the course of this sohai keep complaining...he over look opportunity & lost focus on the art of making monies loh....!!
2020-05-14 17:08
Jokers & idiots are now flooded in every forums of i3 & these jokers will never recognize the good & positive sides of the other person, they are normally acting like a Stock God, if not Stock King.
More importantly, their opinions are always the highest among all, either you agreed with them, or else your opinion will be classified as rubbish by them.
Pity kcchong & OTB.
2020-05-14 17:17
By the way, it is nothing wrong to always do your homeworks, is there anything to argue?
It is the issue of CLASS, LOW CLASS OF ALL IDIOTS & JOKERS.
2020-05-14 17:19
Do not overlook or discount sapnrg mah...!!
It may rebound few 100% anytime with recovering oil price loh...!!
Posted by Philip ( buy what you understand) > May 14, 2020 5:08 PM | Report Abuse
Don't worry, don't need you to teach me to buy and sell stocks.
You hold star too long I already laughing lo. Sslee already sold with 50% profit but small volume. I sold at 30% profit but much larger volume.
My topglove sales the more I sell the more the value keep going up, but don't worry, my profit in one year already 60+% for a pe50 stock.
But traders like you, kcchongnz, choivo and Ricky yeoh will never buy a pe50 stock right?
I already hold Topglove for 10 years lo, in all that time the share price going up steadily based on performance. Now the price is going up is based on speculation, I think I will keep to my own methods and sell off slowly.
Your sapura energy until now how come not yet reach rm3 one? Your NETX how come until now still not yet 8 cents one?
You still got money buy glove stocks?
>>>>>
Posted by stockraider > May 14, 2020 2:41 PM | Report Abuse
Then there is a fourth category a sohai who complaining on everything including a good guy who write a book....in the course of this sohai keep complaining...he over look opportunity & lost focus on the art of making monies loh....!!
2020-05-15 08:31
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