Koon Yew Yin's Blog
Security Commission should investigate JP Morgan - Koon Yew Yin
Koon Yew Yin
Publish date: Tue, 15 Dec 2020, 09:38 AM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
Why should JP Morgan have downgraded Top Glove and Hartalega when there is a continuous increasing demand for medical gloves due to Covid 19 pandemic.
Currently there are 73.14 million Covid 19 cases and 1.65 million deaths in the world.
Currently there are 16.88 million Covid 19 cases and 307,635 deaths in the USA. All these numbers are still spiking high and higher.
Many scientists predicted that it will take at least 1 or more years to completely stop the spread on the coronavirus despite the start of vaccination in UK and US. To be effective at least 70 % of the people in the world must be vaccinated. It will take a long time to produce so much of vaccines. Moreover, more medical staff will be employed and all of them will have to wear gloves for safety to inject vaccines. As a result, there will be an additional demand for gloves.
Vaccine will increase the demand for gloves.
On 12 December JP Morgan downgraded Top Glove share price to Rm 3.50, nearly 50% of its current market price of Rm 6.90. Top Glove just reported EPS 29.64 for its quarter ending November. Its previous quarter EPS was 5.32 sen, an increase of 5.7 time. Comparing to its corresponding quarter last year, it has gained 20 times.
It gave a fair value of RM8.50 for Hartalega, down 38% from its last traded price of RM13.72.
The table below shows that Top Glove is JP Morgan’s largest holding. Its 4th largest holding is Hartalega. Why should it downgrade Top Glove and Hartalega?
Obviously, JP Morgan wants to depress their share prices so that it can buy them at cheaper prices.
Due to Covid 19 pandemic the demand for medical gloves far exceeds supply and all the glove makers can easily increase their selling prices to make more and more profit. That is why Top Glove can report such an unprecedented profit. Until the pandemic is completely under control, the demand for medical gloves will continue to exceed supply and all the glove makers will continue to increase their selling prices to make more and more profit.
JP Morgan is not an ordinary investor. It started banking and investing businesses in 1871 in New York.
Securities Commission should examine the validity of JP Morgan’s reasons for downgrading Top Glove and Hartalega.
SC should also find out whether JP Morgan or its collaborators sold Top Glove and Hartalega at much higher prices before it downgraded them.
Since JP Morgan said that these 2 glove stocks are no good, whether JP Morgan or its collaborators will sell all their current holdings in Top Glove and Hartalega.
SC should also watch closely whether JP Morgan or its collaborators will buy Top Glove and Hartalega when the share prices are cheaper.
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Discussions
1 person likes this. Showing 50 of 69 comments
JP Morgan operated in Asia Pacific since 1872, and today are present across 17 markets in the region. Clients rely on our global strength, local expertise and leadership across our lines of business.
2020-12-15 13:47
He still not understand. JP Morgan holding topglove and hartalega because that is ETF fund. ETF is passive investment fund traces all fund component based on a pre-set weightage for each constituent. ETF fund manager keep track on each constituent of the fund, upgrade or downgrade when necessary as part of portfolio management. saying JP morgan depressed share price to collect cheap is really ridiculous
2020-12-15 13:48
investigate your old head, ibs have the very right to review any counter they think deem fit, sc should investigate you instead. lol
2020-12-15 13:48
investigate them...its clearly market manipulation n without proper due diligence
2020-12-15 13:53
jp morgan is shorting top glove. why else do they give out n say price is 3.50? because they want u all to panic sell so they can short sell make money n then buy back lower. shorting is normally they borrow people shares to short sell then buy back at lower price. they then profit off the diffence. its an obvious conflict of interest!
2020-12-15 13:56
kyy is small fry. big banks like jp morgan should know better n have ethics. they have laws to follow.so now they can cincai do anything n not follow malaysia laws? gone la
2020-12-15 13:57
sec should investigate them! one of their analyst is a cfa charterholder... cfa has ethics laws to follow. investigate him also! cfa america
2020-12-15 13:59
If can't take the heat please leave the market. Can't be running to the SC everytime you overplayed and get into deep trouble like a little spoilt brat though you're supposed to be a super investor. Real disgrace.
2020-12-15 14:01
In fact, he should be investigated for share manipulation. When it goes in his favour, then no issue. When it goes against him and he loses big time due to over leveraged, then talk 3 talk 4 and the World to blame. Disgraceful .
2020-12-15 14:05
laws must be follow especially by big IB banks...sec must safeguard malaysia capital markets. so easy can be hentam by foreign banks lah...
2020-12-15 14:05
if klse no laws, whos gonna come in here next time? your pasar malam uncle ka
2020-12-15 14:05
dun chg the subject. this is about jp morgan not kyy. u want hentam kyy be my guest. 1 is 1 2 is 2
2020-12-15 14:07
Big investment bank like JP morgan has multiple ETF, fund, or could be issue multiple of call/put warrant, perhaps those are not listed in malaysia. Even IB shortselling a stock (or equity) that is part of the risk management or hedging. IB has protocol or integrity to revise target price when fundamental of certain stock was changed
2020-12-15 14:17
ya ka...but from 7 to 3.50 is wayyy to much o. even our local ib never do that. mana ada due diligence? pluck from sky?
2020-12-15 14:18
Dear all,
You can check Bursa below link for Net Short Position report
https://www.bursamalaysia.com/market_information/market_statistic/securities
2020-12-15 14:26
Seriously, need to investigate uncle 1st, stock market will be up and down, u thought market always go according to logic thinking?
We all know glove co. are making tons of money therefore their share price should increase dramatically?
If this is the way, everyone in the world can be trillionaire by dumping all their assets to buy only glove counter, use your brain abit uncle,pls. thanks
2020-12-15 14:29
JP Morgan has given their reasons in the report even if some others do not agree. At the rate things are going on, SC should investigate all analyst's recommendations ???
If you do not agree, just keep supporting the stocks n vote with your money. Isn't this better ??
2020-12-15 14:30
Posted by Alfonso > Dec 15, 2020 2:29 PM | Report Abuse
Seriously, need to investigate uncle 1st, stock market will be up and down, u thought market always go according to logic thinking?
We all know glove co. are making tons of money therefore their share price should increase dramatically?
If this is the way, everyone in the world can be trillionaire by dumping all their assets to buy only glove counter, use your brain abit uncle,pls. thanks
I agree. Stock markets does not go along with logic. If it does, everyone is already a zillionaire.
2020-12-15 14:31
I know Uncle KYY has a few enemies. But this article is very appropriate and SC should investigate and take strict action
2020-12-15 14:42
yes i agree. sec pls investigate jp morgan...massive no integrity jp morgan
2020-12-15 14:53
YES, SC SHOULD INVESTIGATE. APPARENTLY JUNI HAS A BIG ISSUE WITH KYY. MAYBE LOST BCOS OF HIM; CANT FIGURE OUT THE MARKET. I THINK KYY WAS TRADING B4 YOUR MUMMY WAS BORN. JUST SIT BACK/SQUAT AND RELAX.......
2020-12-15 14:54
Alot of scams needed to be investigated by SC before JPMorgan being investigated!
2020-12-15 16:05
Super investor oh Super Investor.... SC should investigate all IBs that downgrade Glove Counters... just like doctor need to examine brain of all investors that didn't buy glove????
2020-12-15 17:56
failurespecialist
"He still not understand. JP Morgan holding topglove and hartalega because that is ETF fund. ETF is passive investment fund traces all fund component based on a pre-set weightage for each constituent. ETF fund manager keep track on each constituent of the fund, upgrade or downgrade when necessary as part of portfolio management."
This is, of course, not true. That is not an ETF fund, and it is not tracking anything. It is an actively managed fund for which you pay 1.5% management fee.
Another thing that deserves to be mentioned is that the only reason why they hold only 9.8% of their portfolio in Top Glove stock (again, this is the number 1 stock in their portfolio) is because according to their prospectus they cannot hold more than 10% of it in the same stock. From the prospectus:
"Investments in, or exposure to, any single entity (other than Government and other public securities) cannot exceed 10% of the Fund’s total net asset value."
2020-12-15 17:57
SC should instead investigate local IBs which give high unachievable TP with conflict interest by issuing CWs.
2020-12-15 18:03
Should also investigate Top Glove management who gives lots of misleading statement to investors, for eg:
a) resolve FDA matters by Nov 20,
b) Factory will be back to operation after 14 DAYS (only) after quaratine of its workers in the press statement given,
c) potential replace MBB as TOP 1 in KLSE by early Oct 20
DLL...
2020-12-15 18:12
IB and structure warrant issuers SHOULD NOT BE ALLOWED FOR PSS (PERMITTED SHORT SELLING!!!!!!!!!!!!!!!!!!!!!)
WtF
2020-12-15 18:24
I TAKE IT AS OPPORTUNITY FOR ME TO BUY CHEAP AND I THANK JP MORGAN FOR DOWNGRADING IT.
2020-12-15 19:19
Many very grateful to JP Morgan for giving chance for everyone to huat
AA's slogan is 'Now Everyone Can Fly'
JPM's = 'Now Everyone Can Buy Glove'
2020-12-15 19:22
JPMorgan to pay $920 million for manipulating precious metals, treasury market (September 30, 2020).
https://www.reuters.com/article/jp-morgan-spoofing-penalty/jpmorgan-to-pay-920-million-for-manipulating-precious-metals-treasury-market-idINKBN26K325
2020-12-15 20:24
Old man, you cheated so many people by manipulate people's mind for so many years, JP Morgan cannot write rubbish sell call? Pure sore loser hahaha. I heard people call you god of stock wor, if really that good need to beg people support you? hahaha
2020-12-15 20:27
pBlue, in glove case, kyy,Tai plus Lim would be able to extinguish jp morgan
2020-12-15 20:32
freeze789, not all stuck in AT, at least not him. He sneak away happily with our moneies
2020-12-16 11:31
Yes, totally agree with KYY. SC should not allow such investment corporation to mislead the public to their selfish benefit of buying back at cheaper price. NO ONE should invest with such low integrity company!
2020-12-17 05:01
And for those people who supports Morgan Stanley, you live in a world with no integrity and you would lie for cheap gains which would not take you far in life!
2020-12-17 05:02
Really sor hai. At first Upgrade AT then sell AT and downgrade AT immediately. Now kena checkmate by a bigger shark and ask sc to investigate. What SC should do is investigate if KYY got license or not. At least JP Morgan got.
2020-12-18 00:35
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2020-12-15 13:46