Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

3iii | Joined since 2015-02-07

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Stock

4 days ago | Report Abuse

It is Chinese New Year.

I am trying to be courteous.

calvintaneng of Netx fame continues to exhibit serious flaws in his valuations in many stocks. He has an uncontrollable behaviour in giving high projections to his promotions.

Look at the 10 severe bargain stocks he promoted in 2017 as must buys, what happened to these? How did he not be approximately wrong but was absolutely wrong? Might a monkey randomly picking stocks beat calvintaneng's performance in this 10 bargain stocks promotion in 2017?
Of course, ee hear calvintaneng of Netx fame bragging on Bonia and very silent on the other 9 stocks. The "silent nine". :-)

What about TSH? Once again, calvintaneng, the hero of Netx, talks about its undervaluation. By giving non-conservative assumptions, he projected a high intrinsic value for TSH, thus he jumped up and down, shouting TSH is undervalued. :-)

A value investor ALWAYS does his valuation using conservative assumptions. Having derived his intrinsic value, he will still be VERY HUMBLE, acknowledging that he maybe wrong in his assessment of intrinsic value, maybe wrong in the assessment of the company business or he might befallen on "bad luck" period. Knowing and humbling accepting his intrinsic value is also imprecise, a value investor only buy with a margin of safety, i.e. at a discount to his estimated intrinsic value. At times, a particular stock is priced so low, you do not need much effort to identify this.

I think the boy in the bumble bee story applies to calvintaneng, the hero of Netx, very appropriately.

News & Blogs

1 week ago | Report Abuse

Gladiator
Happy Chinese New Year to you and all.
Just look at the charts of his calls for these 10 stocks since 2017.
The prices have just gone progressively from the day he called these stocks till today.
The prices did not just go down because of the bear market.
The prices were following more the deteriorating fundamentals of these companies.

Share with us here your opinions if you think otherwise.

Stock

1 week ago | Report Abuse

Should the hero of Netx rethink his incessant promotions?

0Maintaining discipline in stock market investing can be challenging, but there are several strategies that can help. One approach is to develop a clear investment plan and stick to it, even during times of market volatility. This plan should include your investment goals, risk tolerance, and a diversification strategy. Another strategy is to avoid emotional decision-making and instead rely on data and research to guide your investment decisions. Additionally, it can be helpful to limit the amount of time you spend following market fluctuations and instead focus on long-term trends. Finally, consider seeking the advice of a financial advisor or professional if you are struggling to maintain discipline in your investing.

General

1 week ago | Report Abuse

In Malaysia, only a very small number of elderly people are in care homes for extended periods.

General

1 week ago | Report Abuse

Fact

As of 2021, it was estimated that around 4% of older people in the UK lived in care homes, with the majority choosing to live in their own homes or with family members.

General

1 week ago | Report Abuse

SSLee

We are termed the sandwich generation. We take care of our parents and quite practically, we do not expect our kids to be around us in our old age. Societ has changed. The extended family is getting rare. Nuclear family cannot mobilise time and resources for the older generation for many.

General

1 week ago | Report Abuse

The greatest gift the elderly parents can give to their loved ones is to take good care of their personal health. When they enjoy good health, their children are blessed. When they are in poor health, this becomes an added burden to their kids. How their children respond depend on many factors, their circumstances, their relationship, their finances and resources, their proximity, and many others.

Nursing homes serve an important function. Those who are too ill to be looked after at home, nursing homes are a blessing. Relieving the family of a big burden in nursing care that can be provided more expertly at an affordable price.

I am still old school. Filial piety dictates in my life. Hopefully, when still able, I wish to remain at home with my wife at home.

Stock

1 week ago | Report Abuse

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2017-08-21-story-h1451408710-TOP_10_OVERSOLD_STOCKS_TO_BUY_NOW_WHILE_STILL_VERY_CHEAP_Calvin_Tan_Res


Don't be like the hero of Netx. calvintaneng knows the prices of many stocks but it is observable that he does not know how to assess their values.

The hero of Netx, calvintaneng does not know that he doesn't know.

calvintaneng quotes widely from various sources giving impression of a learned soul. But a fool continues to make serious investing mistakes.

Is that an eagle flying high? :-)
>>>>>
calvintaneng

Price is what you pay

Value is what you get

Taann gave 40 sen dividend while hang-mouse only a miserable 10 sen

No wonder mouse so poor

1 hour ago
>>>>

Stock

1 week ago | Report Abuse

Fools enter where angels fear.

Stock

1 week ago | Report Abuse

>>>>
calvintaneng

The gold mine will be 94700 acres land in Nusantara

So while dividend is 8.5% or more can also expect extra cash pay out if any more piece of land is sold to unlock value

9 hours ago
>>>>>


My colleague bought a 1,500 acre oil palm plantation. Due to poor due diligence, 600 acres were on slopes too steep and poorly soiled for planting. They ran into cash flow problems and were lucky to sell off at a profi during a period when CPO prices were high and plantations in demand.

Today, with their experience, they bought another, replanted and due to good CPO price, are enjoying positive cash flow recently.

TSH has huge unplanted lands. Perhaps?40% are not suitable for planting. The rest will need capex and time to turn profitable.

Just like Karambunai, the opportunity cost of waiting can be severe.

Stock

1 week ago | Report Abuse

It is obvious that I have a very long term portfolio of stocks. I started investing in 1993. In 1997, the Asian Financial Crisis occurred. The value of my portfolio dropped drastically too. Even before 2002, my portfolio already showed gained beyond the capital I invested. Since then, my portfolio continues its growth, abeit with volatilities in its portfolio value. It will require a very big fall in the stock market before my initial capital is threatened. In the long run, I am happy and confident my portfolio is protected on its downside with a potential for an adequate long term return. My investing time horizon is the remainder of my lifetime plus the lifetime of those who will continue this process onwards. :-)

Stock

1 week ago | Report Abuse

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2017-08-21-story-h1451408710-TOP_10_OVERSOLD_STOCKS_TO_BUY_NOW_WHILE_STILL_VERY_CHEAP_Calvin_Tan_Res


Very good question.

>>>>>
Posted by calvintaneng > 1 hour ago | Report Abuse

Good question

Calvin =

cal as in call
Vin as in win

90% of market punters are losing monies

Calvin trying to help some from total loss and get saved
>>>>>>

Stock

1 week ago | Report Abuse

My first post on TSH was highlighting the one off gain in the latest quarter results and how without this one off non recurring income, the company actually reported an operating loss.

The company has used this opportunity to write off losses, charges and impairments.

Yes, the next and subsequent quarterly accounts may look beautiful. However, be aware, its true accounts are not truly so transparent.

Of course, the hero of Netx, calvintaneng cannot be trusted to tell the truth, even given the facts. This should be obvious for those who had observed his mania in the Netx forum from 2019 to 2021.

The i3 forum is littered with so many of the hero of Netx, calvintaneng's promotions. Alas, a deeper look below the superficials, revealed a troubled being indeed. The hero of Netx, calvintaneng is a person who doesn't know that he doesn't know.

General

1 week ago | Report Abuse

Some good advice for the hero of Netx, calvintaneng.

Here are a few pieces of advice for someone who has had difficulty with stock investing in the past:

Educate yourself: Learn as much as you can about the stock market and different types of investments. Understand the risks and potential rewards associated with different stocks and sectors.

Have a plan: Develop a strategy and stick to it. Decide on your risk tolerance, investment goals, and the types of stocks you want to invest in.

Diversify your portfolio: Don't put all your eggs in one basket. Spread your investments across different sectors and companies to reduce the risk of losing all your money if one stock performs poorly.

Keep a long-term perspective: Investing in the stock market is a long-term game. Don't make impulsive decisions based on short-term market fluctuations. Stay patient and stay the course.

Keep your emotions in check: Don't let fear or greed guide your investment decisions. Stick to your plan and don't let emotions cloud your judgement.

Be patient: Stocks can be volatile, so it may take some time before you see a return on your investment. Investing is a long-term process, so be patient and stay the course.

Use stop loss: ?

Have a proper risk management plan.

It's also important to remember that investing in the stock market comes with risk, and there's no guarantee of returns. It's important to only invest money that you can afford to lose.

News & Blogs

1 week ago | Report Abuse

Some good advice for the hero of Netx, calvintaneng.

Here are a few pieces of advice for someone who has had difficulty with stock investing in the past:

Educate yourself: Learn as much as you can about the stock market and different types of investments. Understand the risks and potential rewards associated with different stocks and sectors.

Have a plan: Develop a strategy and stick to it. Decide on your risk tolerance, investment goals, and the types of stocks you want to invest in.

Diversify your portfolio: Don't put all your eggs in one basket. Spread your investments across different sectors and companies to reduce the risk of losing all your money if one stock performs poorly.

Keep a long-term perspective: Investing in the stock market is a long-term game. Don't make impulsive decisions based on short-term market fluctuations. Stay patient and stay the course.

Keep your emotions in check: Don't let fear or greed guide your investment decisions. Stick to your plan and don't let emotions cloud your judgement.

Be patient: Stocks can be volatile, so it may take some time before you see a return on your investment. Investing is a long-term process, so be patient and stay the course.

Use stop loss: ?

Have a proper risk management plan.

It's also important to remember that investing in the stock market comes with risk, and there's no guarantee of returns. It's important to only invest money that you can afford to lose.

Stock

1 week ago | Report Abuse

Some good advice for the hero of Netx, calvintaneng.

Here are a few pieces of advice for someone who has had difficulty with stock investing in the past:

Educate yourself: Learn as much as you can about the stock market and different types of investments. Understand the risks and potential rewards associated with different stocks and sectors.

Have a plan: Develop a strategy and stick to it. Decide on your risk tolerance, investment goals, and the types of stocks you want to invest in.

Diversify your portfolio: Don't put all your eggs in one basket. Spread your investments across different sectors and companies to reduce the risk of losing all your money if one stock performs poorly.

Keep a long-term perspective: Investing in the stock market is a long-term game. Don't make impulsive decisions based on short-term market fluctuations. Stay patient and stay the course.

Keep your emotions in check: Don't let fear or greed guide your investment decisions. Stick to your plan and don't let emotions cloud your judgement.

Be patient: Stocks can be volatile, so it may take some time before you see a return on your investment. Investing is a long-term process, so be patient and stay the course.

Use stop loss: ?

Have a proper risk management plan.

It's also important to remember that investing in the stock market comes with risk, and there's no guarantee of returns. It's important to only invest money that you can afford to lose.

News & Blogs

2 weeks ago | Report Abuse

Over the last 5 years (from 2017 to today), the changes in the share prices of these 3 stocks loved by the hero of Netx, calvintaneng, are as follows:

Dutaland - 54.1%
BPuri - 86.67%
BJCorp +1.52%


Dear calvintaneng,

Please learn from your mistakes. A fool is one who fails to learn from his mistakes and continues to do the same things hoping for different outcomes. An obvious lesson is a GRUESOME COMPANY CAN REMAIN GRUESOME FOR A VERY LONG TIME. Another is many lost money because they "fell in love" with the gruesome company at a time when it showed a temporary period of good fortune. More painful still is the opportunity costs of not investing in a great company that has delivered gains in the same period.

Regards
3iii

Stock

2 weeks ago | Report Abuse

Over the last 5 years (from 2017 to today), the changes in the share prices of these 3 stocks loved by the hero of Netx, calvintaneng, are as follows:

Dutaland - 54.1%
BPuri - 86.67%
BJCorp +1.52%


Dear calvintaneng,

Please learn from your mistakes. A fool is one who fails to learn from his mistakes and continues to do the same things hoping for different outcomes. An obvious lesson is a GRUESOME COMPANY CAN REMAIN GRUESOME FOR A VERY LONG TIME. Another is many lost money because they "fell in love" with the gruesome company at a time when it showed a temporary period of good fortune. More painful still is the opportunity costs of not investing in a great company that has delivered gains in the same period.

Regards
3iii

Stock

2 weeks ago | Report Abuse

>>>>>>
Posted by calvintaneng > 2017-08-22 18:22 | Report Abuse

A gruesome company over time may gradually turn good, and becomes a turnover stock.

Gruesome company like Dutaland, Bj Corp & Bpuri Will Turn Into

SUPER STOCK

SEE CALVIN HIT JACKPOT IN DUTALAND TODAY!!

WAHAHAHA!!!! WAHAHAHA!!!


WAHAHA!!!!

A RM750 MILLION CASH SHOWERS FALLING ON DUTALAND

SEVEN HUNDRED AND FIFITY MILLIONS RINGGIT FOR DUTALAND's PLANTATION LANDS IN SABAH!!

THIS TIME ALL SUPER SUPER KAYA LEOW!!!!


WUHUHUHU!!!

YEEEEEEEEEEEEEEEEEEEEEEEEEHAAAAAAAAAAAAAAAAAA!!!!!


HAHAHA!!!
22/08/2017 18:13
>>>>>>

Look at the share prices of these 3 counters recommended by the hero of Netx, calvintaneng in August 2017. Dutaland, BJCorp and BPuri have seen steady declines in their share prices from 2017 to now.

Those who pray to the hero of Netx, calvintaneng for guidance in stock, should be aware and be careful with their hard earned money.


https://klse.i3investor.com/web/forum/forum-thread/600130378

News & Blogs

2 weeks ago | Report Abuse

>>>>>>
Posted by calvintaneng > 2017-08-22 18:22 | Report Abuse

A gruesome company over time may gradually turn good, and becomes a turnover stock.

Gruesome company like Dutaland, Bj Corp & Bpuri Will Turn Into

SUPER STOCK

SEE CALVIN HIT JACKPOT IN DUTALAND TODAY!!

WAHAHAHA!!!! WAHAHAHA!!!


WAHAHA!!!!

A RM750 MILLION CASH SHOWERS FALLING ON DUTALAND

SEVEN HUNDRED AND FIFITY MILLIONS RINGGIT FOR DUTALAND's PLANTATION LANDS IN SABAH!!

THIS TIME ALL SUPER SUPER KAYA LEOW!!!!


WUHUHUHU!!!

YEEEEEEEEEEEEEEEEEEEEEEEEEHAAAAAAAAAAAAAAAAAA!!!!!


HAHAHA!!!
22/08/2017 18:13
>>>>>>

Look at the share price of these 3 counters recommended by the hero of Netx, calvintaneng in August 2017. Dutaland, BJCorp and BPuri have seen steady declines in their share prices from 2017 to now.

Those who pray to the hero of Netx, calvintaneng for guidance in stock, should be aware and be careful with their hard earned money.

News & Blogs

2 weeks ago | Report Abuse

Ill-informed investors: Those who invest without doing proper research or understanding the risks and fundamentals of a company or the market can make poor investment decisions and ultimately underperform.

Stock

2 weeks ago | Report Abuse

Ill-informed investors: Those who invest without doing proper research or understanding the risks and fundamentals of a company or the market can make poor investment decisions and ultimately underperform.

Stock

2 weeks ago | Report Abuse

It's important to note that investing in the stock market is not a surefire way to make money, and investors should always be prepared for the possibility of losses. It's important to have a well-defined investment strategy and to conduct thorough research before making any investment decisions.

News & Blogs

2 weeks ago | Report Abuse

It's important to note that investing in the stock market is not a surefire way to make money, and investors should always be prepared for the possibility of losses. It's important to have a well-defined investment strategy and to conduct thorough research before making any investment decisions.

General

2 weeks ago | Report Abuse



Compounding is a powerful tool in investing, as it allows returns on an investment to generate their own returns in the future. The longer the time horizon for an investment, the more powerful the effects of compounding can be.

To capture the power of compounding, you can do the following:

Start early: The earlier you begin investing, the more time your money has to compound.

Invest regularly: Regularly investing, such as through a dollar-cost averaging strategy, can help you capture the power of compounding over time.

Invest for the long-term: The longer you stay invested, the more time your money has to compound.

Invest in assets that have the potential to grow: Investing in assets that have the potential to grow, such as stocks, can help increase the size of your investment over time, thereby increasing the power of compounding.

Avoid unnecessary fees and taxes: Any fees or taxes that you pay on your investments can reduce the power of compounding. So, it's important to keep them as low as possible.

It's important to remember that compounding is a slow and steady process and the power of compounding is more pronounced over a long time horizon. It's important to have a long-term perspective when investing and not to get swayed by short-term market movements.

Stock

2 weeks ago | Report Abuse

In this company, study its balance sheet. All liabilities are accepted as face values. All assets need to be discounted.

Can it service the interests of its huge debts? Also, we are in the era of rising interest rate.

In liquidation, shareholders are the lowest in the pecking order. In my opeinion, the shareholders' equity in this company is already negative.

Stock

2 weeks ago | Report Abuse

simple :

risk: liquidation. shareholders lose everything. share price 0 sen

reward: a greater fool appears. SD is priced xxx.


Stock

2 weeks ago | Report Abuse

Yes, the accounts were qualified by the auditors. Due to strong cables, the issues dragged on. The fine by the court was not commensurate with the gravity of the issues. The top person in SC resigned, applaudable, though he had to make a personal sacrifice.

Just like Transmile, the thing to do is to sell the stock as soon as this issue first appeared.

SS LeeYou are right.

Stock

2 weeks ago | Report Abuse

By breakdown, Sia listed under assets an unverified property, plant and equipment of RM1.99 billion, unverified inventories of RM1.59 billion, as well as unverified trade and other receivables of RM1.59 billion.

Stock

2 weeks ago | Report Abuse

Auditor finds Serba Dinamik has unverified assets, liabilities, revenue and expenses totalling over RM12 bil

savemalaysia
Publish date: Sat, 14 Jan 2023, 08:35 AM
KUALA LUMPUR (Jan 13): Serba Dinamik Holdings Bhd has unverified assets, liabilities, revenue and expenses amounting to RM12.43 billion, according to accountant Jason Sia Sze Wan from Nexia SSY PLT, the group's external auditor.

“We were unable to obtain sufficient appropriate audit evidence about whether any adjustments might have been necessary in the group’s and the company’s financial statements,” Sia stated in the independent auditors’ report to the members of Serba Dinamik dated Jan 5, 2023 that is included in the group’s 2022 annual report.

“In addition, we were unable to conclude that the carrying amounts of the above items are fairly stated in the financial statements,” he said referring to Serba Dinamik’s statements of financial position as at June 30, 2022 (FY2022).

By breakdown, Sia listed under assets an unverified property, plant and equipment of RM1.99 billion, unverified inventories of RM1.59 billion, as well as unverified trade and other receivables of RM1.59 billion.

Under liabilities, there is an unverified trade and other payables amounting to RM639.56 million, as well as unverified loans and borrowings totalling RM3.65 billion.

He also indicated RM1.35 billion of unverified revenue and RM1.62 billion of unverified cost of contracts with customers.

“We do not express an opinion on the accompanying financial statements of the group and of the company,” Sia said.

Serba Dinamik finally submitted its 2022 annual report to Bursa Malaysia Securities Bhd on Thursday after much delay since Oct 31, 2022.

When Serba Dinamik failed to meet the Oct 31, 2022 deadline, the financially-distressed oil and gas services provider said it faced challenges for the completion of the audit by the external auditors due to lack of personnel arising from the resignation of many staff across the organisation, including its chief financial officer and the financial controller in September 2022.

Serba Dinamik said the company's finance team had to also adapt to new work processes in facilitating the interim liquidator and his team in carrying out their duties in managing the company's financial and operational affairs.

In addition, the company said there was a delay in finalising the responsibility of the audit fees and other incidental obligations.

Moving forward, the management team said it will focus on the company’s financial health and is looking into formulating a plan to regularise its financial condition in approximately one month.

After a three-week suspension, the trading of Serba Dinamik’s shares resumed on Friday, as the stock doubled from its all-time low of one sen to two sen. The counter was the most active on Bursa with 371.05 million shares traded.

However, it should be noted that the trading of Serba Dinamik’s shares will be suspended again next Wednesday (Jan 18) until further notice, as the court had granted a winding-up order against the company.

Read more:

Serba Dinamik finally submits its 2022 annual report after much delay



https://www.theedgemarkets.com/node/651734

Stock

2 weeks ago | Report Abuse

>>>
Bradar

I am not looking at their accounting numbers. SD might hv a backup story. A good one. If not no one will dare to sign off their AR reports. A limited risk stock now. Buy for a positive hope... hehehe.
>>>>


Interesting comment.

A fool and his money soon go their separate ways.

Stock

2 weeks ago | Report Abuse

Total Accounts Receivable 2,123
Inventories 1,620
Net Property, Plant & Equipment 2,399


Total Liabilities 4,690
Common Equity (Total) 1,818



When valuing a business for liquidation, most assets are marked down and the liabilities treated at face value.

Total Accounts Receivable 1600 (25% discount of 2,123, less about 500m)
Inventories 810 (50% discount of 1,620, less about 800m)
Net Property, Plant & Equipment 1,200 (50% discount of 2,399, less about 1,200m)


Total Liabilities 4,690
Common Equity (Total) NEGATIVE [1,818 less (500m + 800m + 1,200m) = - 700m]

Stock

2 weeks ago | Report Abuse

Fiscal year is July-June. All values MYR Millions. 30-Sep-2022
Cash & Short Term Investments 36
ST Debt & Current Portion LT Debt 2,562
Long-Term Debt 1,205

Total Accounts Receivable 2,123
Inventories 1,620
Accounts Payable 718

Total Current Assets 3,897
Total Current Liabilities 3,424
Current Ratio 1.14
Quick Ratio 0.66
Cash Ratio 0.01

Total Liabilities 4,690
Common Equity (Total) 1,818

Net Property, Plant & Equipment 2,399
Total Assets 6,511
Total Shareholders' Equity / Total Assets 27.92%

==============



Asset valuation approach in liquidation

Liquidation

Liquidation value is the net realizable amount that could be generated by selling a company’s assets and discharging all its liabilities.

When valuing a business for liquidation, most assets are marked down and the liabilities treated at face value.

Cash and securities are taken at face value.
Receivables require a small discount (perhaps 15 percent to 25 percent off).
Inventory a larger discount (perhaps 50 percent to 75 percent off).
Fixed assets at least as much as inventory.
Any goodwill should probably be ignored.
Most intangible assets and prepaid expenses should be ignored.
The residual is the shareholders’ take.

This valuation method is useful for companies being dissolved.

It doesn’t consider value arising from deploying the resources in combination. It is thus of limited use for valuing businesses as going concerns.

Stock

2 weeks ago | Report Abuse

Debt hierarchy

Senior securities (debts) are first in priority, and unless they are fully or almost fully repaid, junior classes (equities) are unlikely to receive significant value.

Investing in the stocks or junior securities can provide spectacular returns but can also prove disastrous. These securities often serve as out-of-the-money option - effectively, bets - on an improvement in operating results or an increase in value.


[ Latexx: this company had a lot of debt and was restructured. Among the shareholders, a brother bought out the other brothers' shares. The debts were restructured into equities and for these, the lenders got a lot of very cheap warrants. Due to the favourable turnaround in its business post-2008, when the production capacity of the glove sector as a whole was insufficient and business was very good, its business made a turnaround and it generated significant profits. Its shares and particularly, its warrants gave huge returns to those who were holding these. I was lucky too, owning this before the huge rise. Got to know this stock at that time, through scuttlebutt. ]

Stock

2 weeks ago | Report Abuse

Fiscal year is July-June. All values MYR Millions. 30-Sep-2022
Cash & Short Term Investments 36
ST Debt & Current Portion LT Debt 2,562
Long-Term Debt 1,205

Total Accounts Receivable 2,123
Inventories 1,620
Accounts Payable 718

Total Current Assets 3,897
Total Current Liabilities 3,424
Current Ratio 1.14
Quick Ratio 0.66
Cash Ratio 0.01

Total Liabilities 4,690
Common Equity (Total) 1,818

Net Property, Plant & Equipment 2,399
Total Assets 6,511
Total Shareholders' Equity / Total Assets 27.92%

Stock

2 weeks ago | Report Abuse

SERBADK Financial Information
Market Capital (RM)
: 74.54m
Number of Share
: 3.727b
EPS (cent)
: -31.04 *
P/E Ratio
: -
ROE (%)
: -63.35
TTM Profit Margin (%)
: -150.9
CAGR - Revenue (%)
: -
CAGR - PAT (%)
: -

Dividend (cent)
: 0.000
Dividend Yield (%)
: 0.00
Dividend Policy (%)
: Member Only
NTA (RM)
: 0.490
P/B Ratio
: 0.04

Stock

2 weeks ago | Report Abuse

The common stock of bankrupt companies frequently trades considerably above its reorganization value, which is often close to ZERO. While there may be an occasional home run, as a rule investors should AVOID the common stock of bankrupt entities at VIRTUALLY ANY PRICE; the risks are great and the returns very uncertain. Unsophisticated investors have lost a great deal of money buying the overpriced common stock of bankrupt companies, even after the unfavourable terms of the reorganization plan have been widely disseminated.

It is worth remembering that restructurings and bankruptcy reorganizations are negotiated processes.

Stock

2 weeks ago | Report Abuse

The hero of Ñetx, calvintaneng or should he be elevated to the god of Netx. :-)

300 followers subscribing to his push contents. Hilarious that the hero of Netx is so elated over this.

It is obvious, the hero of Netx, calvintaneng isvery short term focus. Nothing has come out of his recommendations, on an aggregate basics. This is to be expected.

More worrying, of the 10 stocks he deemed bargains and which the hero of Netx, calvintaneng proudly shared with his followers, here were the outcomes five years later. Two were winners. Eight were losers; seven of these eight stocks lost more than 40% from the hero of Netx, calvintaneng's market prices at time of his recommendations.

What conclusions can we derive from these?

1.
2.
3.
4.
5.
6.
7.
.
.
.

News & Blogs

2 weeks ago | Report Abuse

Shell was a company I owned for many years. It was a "blue chip" with regular dividends. Lucky to sell it off around RM 12.00 during a period of exuberance in its share price.



News & Blogs

2 weeks ago | Report Abuse

I follow a very simple rule: QMV

Quality Look at the quality of the business
Management Look at the management: most important criteria is integrity

and then, only then,

Valuation: Look at its valuation.

As an investor, you do not have to swing at every offer.
Also, if you have bought, you can always walk away.

It must be "tiring" for Philip watching his investments grow, it must be equally "tiring" for SSLee watching his investments intensely all the time; with one issue cropping up after another. I would rather be Philip than SSLee. :-)



.

News & Blogs

2 weeks ago | Report Abuse

When it comes to bad businesses, I must know that it is a bad investment however attractive the valuation may seem. I love how Charlie Munger explains that – “a piece of turd in a bowl of raisins is still a piece of turd”…and…“there is no greater fool than yourself, and you are the easiest person to fool.”

General

2 weeks ago | Report Abuse

Checklist for Buying Good Companies at Reasonable Prices

Here is a summary of the questions an investor should ask for investing in good companies at fair prices.


Questions 1 - 19: Focus on the areas of the business.

Business Nature
1. Do I understand the business?
2. What is the economic moat that protects the company so it can sell the same or a similar product five or ten years from today?
3. Is this a fast-changing industry?
4. Does the company have a diversified customer base?
5. Is this an asset-light business?
6. Is it a cyclical business?
7. Does the company still have room to grow?

Business Performance
8. Has the company been consistently profitable over the past ten years, through good times and bad?
9. Does the company have a stable double-digit operating margin?
10. Does the company have a higher margin than competitors?
11. Does the company have a return on investment capital of 15% or higher over the past decade?
12. Has the company been consistently growing its revenue and earnings at double digits?

Business Financial Strength
13. Does the company have a strong balance sheet?

Business Management
14. Do company executives own decent shares of stock of the company?
15. How are the executives paid compared with other similarly sized companies?
16. Are insiders buying?

Business Valuation
17. Is the stock valuation reasonable as measured by intrinsic value, or P/E ratio?
18. How is the current valuation relative to historical range?
19. How did the company's stock price fare during the previous recessions?


Question 20: Confidence in Your Business Analysis or Research

20. How much confidence do I have in my research?




The final question centers on how you feel about your research. Though it is not directly related to the company, your own analysis is a vital consideration. It determines your action once the stock suddenly drops 50% after you buy.

That same 50% drop can trigger opposing actions depending on your level of confidence.

If you are assured in your research, the 50% drop in price is a great opportunity to buy more of the stock at half the price.
If you don't have confidence, you will likely be scared into selling at a 50% loss.

It will happen after you buy the stock and, paradoxically, it happens only after you buy. So, get prepared!


The checkup questions are based on the company's financial data. None of them should replace your work of understanding the business and learning about its products, its customers, its suppliers, its competitors, and the people who work in the company. The warning signs serve as reminders of where you are. They are not meant to substitute for understanding. If we paid attention only to the numbers and signs and ignore the business itself, understanding of the company business is incomplete.

If we gain a solid understanding of the business, these numbers and signs will help us to appreciate where we are and where we are probably going. If business understanding is qualitative and the numbers are quantitative, both are needed to gain the confidence we need for our research.

The checklist is a useful tool for investors to maintain discipline in their stock picking.

General

2 weeks ago | Report Abuse

Investor's Checklist: Asset Management

Look for diversity in asset management companies. Firms that manage a number of asset classes - such as stocks, bonds, and hedge funds - are more stable during market gyrations. One-hit wonders are much more volatile and are subject to wild swings.

Keep an eye on asset growth. Make sure an asset manager is successful in consistently bringing in inflows greater than outflows.

Look for money managers with attractive niche markets, such as tax-managed funds or international investing.

Sticky assets add stability. Look for firms with a high percentage of stable assets, such as institutional money managers or fund firms who specialize in retirement savings.

Bigger is often better. Firms with more assets, longer track records, and multiple asset classes have much more to offer finicky customers.

Look for management teams committed to building shareholder value. These teams often have significant personal wealth invested in the businesses they run.

General

2 weeks ago | Report Abuse

Investor's Checklist: Insurance

Be wary of any insurance firm that grows faster than the industry average (unless the growth can be explained by acquisitions).

One of the best ways to protect against investment risk in the life insurance world is to consider companies with diversified revenue bases. Some products, such as variable annuities, have exhibited a good degree of cyclicality.

Look for life insurers with high credit ratings (AA) and a consistent ability to realise ROEs above their cost of capital.

Seek out property/casualty insurers who consistently achieve ROEs above 15 percent. This is a good indication of underwriting discipline and cost control.

Avoid insurers who take repeated reserving charges. This often indicates pricing below cost or deteriorating cost inflation.

General

2 weeks ago | Report Abuse

Investor's Checklist: Banks

The business model of banks can be summed up as the management of three types of risk: credit, liquidity, and interest rate.

Investors should focus on conservatively run institutions. They should seek out firms that hold large equity bases relative to competitors and provision conservatively for future loan losses

Different components of banks' income statements can show volatile swings depending on a number of factors such as the interest rate and credit environment. However, well-run banks should generally show steady net income growth through varying environments. Investors are well served to seek out firms with a good track record.

Well-run banks focus heavily on matching the duration of assets with the duration of liabilities. For instance, banks should fund long-term loans with liabilities such as long-term debt or deposits, not short-term funding. Avoid lenders that don't.

Banks have numerous competitive advantages. They can borrow money at rates lower than even the federal government. There are large economies of scale in this business derived from having an established distribution network. the capital-intensive nature of banking deters new competitors. Customer-switching costs are high, and there are limited barriers to exit money-losing endeavors.

Investors should seek out banks with a strong equity base, consistently solid ROEs and ROAs, and an ability to grow revenues at a steady pace.


Comparing similar banks on a price-to-book measure can be a good way to make sure you're not overpaying for a bank stock.

Stock

2 weeks ago | Report Abuse

With over 70% of PPB earnings coming from Wilmar, you’re basically taking a view on Wilmar rather than PPB

General

2 weeks ago | Report Abuse

Public Bank remains strong and resilient. Its business is an oligopoly, and well managed. There is growth and the profit margins are maintained high, costs are efficiently controlled. Lending are conservative and have been sound, impairment and provision for losses low. The transition from Teh Hong Piow to his lieutenant has been occurring over many years already and the transition has been seemless.

LPI is a well managed insurance company. It enjoys some pass over business from PBB. Insurance sector is now openly competitive. It is in a more competitive sector than PBB. Knowing this is important.