Old and Golden Investor Journal
The good, the bad and the ugly...of the social community
Old_and_Golden
Publish date: Sat, 16 Dec 2017, 10:53 AM
Old_and_Golden
0 13
Just retired. Has lots of time and little money to invest. This is my blog where I write about my experience, thought process, lessons learnt, and profit and loss along the way.
As a newbie, I have been reading all available information avidly. This includes the gossips in the community social forum.
First of all, the commentors use anonymous ID, without any personal identity and accountability of what they write. I won't be surprised if a few actually clonned IDs and write things to support each other in an attempt to push up or down a particular stock. Afterall we Malaysians have herd syndrome, we follow the crowd. We are also gullible. So any leads, even those that don't smell good, are taken at face value and followed.
Fortunately, I have been around the block for a while and it doesn't take long for me to identify the good, the bad and ugly.
While I read all, I do filter out using characteristics as
- facts versus gossips / fake news. I do my own research as well.
- language; the ugly tend to use crude and vulgar language. Their lack of good public mannerism become quite obvious.
- the bad; while using polite language, simply spread rumours for selfish reasons.
- the good are those who shares factual information, latest published news, and logical reasoning in support of the points made.
My first week of involvement has been quite productive.
a. I have created a blog to capture my experience - a journal which is also receiving feedback and recommendations from readers. All those suggestions are indeed helpful; and provide a basis for me to do my research into the stocks.
b. I have been reading annual reports, financial highlights, announcements of a few counters - something I have not done before. Now I am already familiar with a few of those companies. I am pleasantly surprised by how well financially rewarded some of the companies directors are.
c. I have acquired a few stocks; and based on current performance, I am making a modest profit on paper.
.....
To my readers, please continue to share tips and tricks. I value and appreciate all your inputs.
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Discussions
Be the first to like this. Showing 12 of 12 comments
Everyone who come to market must pay tuition fees.
Sslee is no exception.
Ccmeow equally qualified and not less learned than Old_and_Golden.
I am not too certain how qualified is Old_and_Golden.
Served as a Professional means that he is just an employee.
A Doctor/ Medical Consultant with NHS?
An Engineer/Consultant with Arup?
Oil man with BP?
Auditor with Big Three?
Management Consultant with MBBA?
Banker with Commercial Bank?
All are not relevant.
i3 here is full of professional, which include CFA's.
More important is know your Directors/ Substantial shareholders.
Do you have questions with regard to their credibility and integrity?
Financial accounts are good only if Directors are honest.
Read carefully in the Auditors' Report, they rely on the information provided by the Directors.
Understand what is creative accounting means.
Understand why and when Kitchen Sink can happen.
Understand how and why the Big Four Auditing Firms (now left with Big Three) compromise their accounting standard.
Go back to read up Enron incident.
Read more to find out how good is Public Invest Analyst's Research Reports and TPs.
Finally, I wish you good luck.
Paying some tuition fees is ok, provided each time you learn a lesson.
Don't let your tuition fees down to the drain...........
2017-12-16 14:55
SSLee,
I value your observations, advise, and wisdom.
Like you, I benefit too from comments read in various forums, including those left in this blog postings.
I guess, what will be really helpful is to read rationales for any recommendations. Of course there is no right or wrong, but opinions with rationales help to challenge our mind to think and make our own conclusion.
Thank you for you comment.
2017-12-16 16:52
Ks55,
Yes I was just an employee, one who has done quite well in the three multinational companies I served. Each has taken me to global platforms, exposing me to different culture and nuances.
Making profit (on paper) is just as important as 'missed' opportunities in my view. Therefore decision making is key. As a case in point, I queued for Hibiscus yesterday, at 0.82. i didn't get any. To me that was a missed opportunities as I believe in the stock. Who knows what will the price be on Monday.
But, patience is a winning attribute. Therefore, I will learn to be more patient as I continue in the market.
Thank you for you comment, advise and wisdom.
2017-12-16 16:58
information needs to be articulated.
I didn't lose money in Xingquan because I walk to see if the shops are really there. It simply wasn't there. It's important to cross check the information with facts.
2017-12-16 19:44
Supersaiyan3...
yes exactly, we need to always check the facts, sometimes as basic as whether the company has any tangible asset?
2017-12-16 20:56
Equities Weekly: European equities rise amid endorsement of Basel III Rules | http://www.klsescreener.com/v2/news/view/319953
2017-12-17 09:23
Why do you think Hibiscus is a missed opportunities? Just because it is going up on Monday?
2017-12-17 10:34
Fund managers see short Malaysian market spike
Read more at https://www.thestar.com.my/business/business-news/2017/12/15/fund-managers-see-short-market-spike/#uVHWhlLYCMTuiI8B.99
2017-12-17 11:00
In my opinion ,forum like this should be a place for critical thinking and open discussions.However in many instances,I do find it's a platform that do encourage unilateral thinking.People just cannot open their minds to read that's the angle of other eyes or wonder the reasons why that person asked such question or made such statements.They simply lumped that as attackers.Actually this could be dangerous as syndicates could use this platform to drive prices up/down to take advantage of those blind followers.I term blind followers as people who follow the crowd without questioning.It's not meant to be an offensive word or intentionally degrade others.Again it's solely my opinion only.
2017-12-17 11:17
All social media platform is product of freedom of speech.Anyone can say anything they want yield from their experiences. Its up to the reader to filter the opinions and ideas presented. We must develop the skill and tools to verify and validate. Been in i3 for many years, its a great one indeed....
2017-12-17 11:28
kikikikikiki, almost 99% i3 members cannot take the opposing view
2017-12-17 21:25
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Sslee
Dear Old_and_Golden,
Welcome to i3 community. Please do not judge and stereotype people as the good, the bad and the ugly. Who are we to make such judgment when we are not any saints either and we are here with our own agenda?
Previously I had wrote; “ In I3 community, we have super-investors, professional fund managers, investment educators, preachers, old-timers, syndicate manipulators, day traders, part-timers, naysayers, jokers, haters, sadists, dreamers and newbie. These had make i3 a diverse and plural community with diverse views and opinions, all are welcome.”
By now you should have know many of them by their comments or blogs in i3. I was here more than a year ago seeking help from i3 as I feel cheated by XINGQUAN. I had to say I had gained a lot from all the commentators comments, some are very helpful and some are very hurtful. Anyhow I think all for their comments.
My journey of seeking help had given me an opportunity to meet with many interesting peoples and I will always treasure the advice given to me by a prominent personality “Have patience and be calm as we alone cannot change the many wrongs of this world overnight. So be patient, have faith and do not lose hope, be persistent, have courage and perseverance till the end. The end might turn out to be a disaster but anyhow enjoy the journey and learn something from it.”
I am glad to hear you have been reading annual reports and pleasantly surprised by how well financially rewarded some of the company’s directors are. Be warned you will be shocked some of the Red Chip company’s directors are Scammers and the External Auditor have no moral obligation to raise alarm and further investigate whether their client illogical action (CEO selling his share at RM 7 cents when the bank balance alone is worth about RM 1 dollar and not dividend) illogical explanation (XINGQUAN 3.6 millions pair of tailored made shoes was rejected by an unnamed government agency. Billions in bank balance and no dividend) is a red flag warning signs of fraud.
Previously I had wrote; “I have seen many commentators asking each other to talk with substances and back up argument with FACTS and FIGURES. So what are exactly facts and figures? Can we from the Quarter financial report pick up the facts and figures and form our FA analysis or from the past share trend TA analysis to argue that this is the facts and figures. And how this share will perform next day, month or year? Will this company go bankrupt or will this share give you multiples return?
For me I understand now, the facts and figures can only be found inside the company with the people running the business. Hence it’s our duty and responsibility to attend company AGM and asks the Auditor, CEO, CFO and BOD on the facts and figures and demand for good corporate governance and transparency.”
I hope you will find time to attend company AGM and fight for the minority shareholders right.
Thank you.
2017-12-16 13:21